he says some stocks look very cheap and he's bringing like his shopping list, and liz ann sonders will be here as well >>> let's start with today's dashboard. mike santoli >> mild moves at the index level, very much a diverging market that effect is continued sideways movement. as a matter of fact where we are right now in the mid 3900s brings us back to where it stood. >> holding a bit, but not by too much here we energy and financials, the peak of the tech bubble in 2000, surged into the global financial crisis right ahead of that. right up here is tech and health care, the growth names really peaking there. you see them waxing and waning it basically shows you we've started to see this resurgence in energy and financials over the last year or so. it's mostly a proxy for the growth versus value trade-off that we get here one cautionary note, when we got to right about there, this is roughly a 20% weighting in energy and finance, you would have said that's what you have to buy right now that's the way it kept going, so you can't bet on it. maybe, the point is the tide has started to t

joining me now charles schwab, chief investment strategist, liz ann sonders. we got the adp report this morning t was not exactly, not exactly a harbinger of the bls number. i do think the trends usually match up. that is what everyone is looking at the friday jobs report. what do you think of all the data we're consuming right now? >> you're right, adp is not a proxy for the bls establishment survey that gives us the payroll survey numbers. adp tried to make adjustment to be more in line but it can be a wild card in terms of the miss relative to the establishment survey. i think what is really important on friday is not discuss the headlines of payrolls and the unemployment rate but what the household survey says. bls does an establishment survey. that gives us payrolls. they do the household survey to generate the unemployment rate. just to put this into perspective, the last seven months the establishment survey suggests almost 2 1/2 million new jobs have been created in the economy. the household survey says it is 150,000. charles: right. >> that is extrao

liz ann sonders, phil c camparelli. >>> day two of iger part two disney shares are giving up a bit ofhe gains they saw yesterday on that stunning news that bob iger was coming back to run the company as ceo, a company, of course, he was the ceo of for some 15 years, from 2005 to 2020 sat on the board of this company, by the way, for roughly 2 is years starting in january 2000 as well he's already busy. already at work. perhaps not a surprise to those who followed his career closely. if you read his book, for example, you know that when he came in following michael eisner back in 2005, one of the first things he did was dismantle so-called central planning he likes the idea of having profit and loss statement closer to the creative units. yesterday in a memo, we learned that he's asked a number of top executives to work together on the design of a new structure that puts more decision-making back in the hands of our creative team and rationalizes costs. so, a reorganization already taking place at something called disney media entertainment that was run by a very close ally, colleague

tom: liz ann saunders -- sonders joins us, what about the stock market and the rally?ebody looking at spx, up 18%. you are too young to remember 75 or 82, how do you figure out a bull market? liz ann: i actually think the retest and to move beyond mid-june lows in october looks at a better sentiment. you have an underpinning and as of wednesday last week you have seen behavioral measures of sentiment like the ratio get to the same amount of washout, pessimism, whatever you want to call it as the other measures. and you had a positive divergence develop where the breath was improved relative to what we saw in june. i would say you can check some boxes. however from a more macro asked -- perspective, what is ahead of us is more forward earnings, more stability both in yields and the dollar. i think we need to see stability in housing and pmi. i don't think you can check those boxes yet even if you have got some better sentiment and technical underpinnings. tom: these are unusual times to say the least. want to talk to you on your research note. you link the upset and bit