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MARSHALL: Correct.
REGAN: I mean he wanted to actually get her to reverse her stand on that and that's remaining in there. And I think trade is going to be a big issue when we talk about some of those folks .
MARSHALL: Yes.
REGAN: . that are in the middle. Brad, interesting that she was in New Hampshire, I mean, this was the spot where she was really challenge. She did not do well in New Hampshire and Bernie Sanders had quite a contingency and support. How big a moment, how important is this moment for her and for Bernie to be on stage and having that kumbaya, so to speak, and trying to bring in some of Bernie Sanders voters because she needs them?
BLAKEMAN: Right. Well, this have been -- should have been held in Vermont and Hillary was still concerned with New Hampshire, that's being held in New Hampshire. But one thing is for sure, and Leslie's right, when you push the party too far to the left, especially at this time in the campaign when you're heading off to a general election, you're putting yourself at a real bind because you have to appeal to those independents, which, you know, are not going to take you favorably .
REGAN: All right. But in all fairness .
BLAKEMAN: . to giving away a lot of things.
REGAN: In all fairness, one of the criticisms against Trump, Brad, has been that he's going to be challenge when it comes to those middle of the road voters as well.
BLAKEMAN: He is. Absolutely. But that's the point is Hillary did not have to go to the left. She was forced to go to the left by a hostage negotiation with a guy who wouldn't leave the race, big difference between Trump and Hillary. Hillary made this decision of her own free will.
REGAN: Leslie are you a little, you know, deep down angry at all at Sanders? I mean did he, in some ways, make this much harder for her than it needs to be?
MARSHALL: Yes, and I know Senator Sanders. I had him on my radio show before he announced. I beg him to announce on my radio show, but I said promise me, you won't run as an independent. Don't pull a Ralph Nader, and he said I promise you and he kept his word.
But the problem is I think that he did even better than he expected. I think his ego was fed, you know, a tiny bit there and I don't feel that what he's done and dragging his feet getting out has been good for the party. It's been good for his agenda, for his platform and what his supporters want. The problem is, a lot of what the Democrats have, you know, put forth that is to the left of where they were are not key issues among voters coming up in November.
REGAN: Right.
MARSHALL: It's not even among Democrats. Right.
REGAN: What is it that ultimately you think he wants?
MARSHALL: I think he wanted this. I think he wanted to get his way. You know, so to speak .
REGAN: You know, you don't he wants to be on the ticket? You don't think he wants a cabinet spot?
MARSHALL: No, no, I don't. I really don't.
REGAN: It just to have a bigger profile.
MARSHALL: No. It's the revolution. It's the revolution. I mean, this is, you know .
REGAN: You know, some authenticity .
MARSHALL: We're living this '60s hippie (ph) thing, right? Not really. It's a passion .
(CROSSTALK)
MARSHALL: Yes.
REGAN: Yeah.
MARSHALL: It's a fashion.
REGAN: All right. Well, good to see you. Good to see you here in New York.
MARSHALL: Thank you. Good to see you.
REGAN: Thank you so much, Leslie and Brad. All right. We are just a week away everyone, counts on down from the Republican convention and the GOP is hashing out its official party platform. The biggest changes, they're all about trade. So had Donald Trump's "America first message" moves the party away from its free trade position? I mean think about it, right? Isn't this kind of bucking the tragic traditional conservatism? My intel on it, next.
(COMMERCIAL BREAK)
REGAN: All right, we're just keep going up, up, up. Check out this rally, up triple digits right now on the Dow, better than 115 points.
Meanwhile, take a look at Alcoa, which is reporting this afternoon, it's trading higher ahead of the aluminum makers results that's going to release for its second-quarter earnings after the bell today. It's kind of a symbolic start, right, to earning season when you see Alcoa, and a little bit of good news for it there as investors are looking forward to something.
Meanwhile, shares of Nintendo are surging over its new app, Pokemon Go. However, the game which leads players in a real world scavenger hunt and the view of Pokemon characters in virtual reality using their phones cameras, it has caused some players to be led into the ambushing by robbers, very tough.
Next, we're going to be right back with my intel on why Donald Trump needs to keep hitting the economy over and over and over again. I'll see you here.
(COMMERCIAL BREAK)
REGAN: All right, it's the economy, it's the economy, it's the economy. Again, as I have said before, Donald Trump, he would be very wise to keep hitting the economy over and over again, because even when you consider the recent jobs report, which I've got to say, was a good one. The trajectory of our economy is just lousy. I mean, I think about it, and you think about all the small towns across America. Towns like to where my husband grew up in just outside of Buffalo, New York. And there are good jobs there. I mean, it was good place to live, to grow up in the '70s and the '80s where, you know, you could get a job out of high school at a manufacturing plant. You could go to work in one of these factories and take care of your family on that salary. And you know, the whole town all the jobs were supported by those manufacturing jobs. But those jobs, they've been leaving, they've been moving overseas.
And the whole idea behind globalization is to grow the pie for everyone, right? I mean, that was a standard conservative spot, but now, Donald Trump single-handedly seems to be turning that on its head and you can understand why when you look at these towns all across America and you see how devastated they are.
So take a look at the new Republican platform, the most substantial changes in here are the ones on trade saying that, well, international trade is beneficial to the American economy. There are "massive deficits". It goes on to say, "We need better negotiated trade agreements that put America first." In fact, this draft of the platform reads saying that "Republicans understand that you can succeed in a negotiation only if you are willing to walk away from it." Kind of sounds like Trump there. "A Republican president will insist on parity in trade and will stand willing to implement countervailing duties if other countries don't cooperate."
And I'll tell you that matters. I mean, look, trade can be good. We know that. It can be very good. It can lift all sides. But it needs to be fair.
Trump faces a lot of challenges. You know, but when it comes to the economy, this is an area in which he has demonstrated expertise. So by hitting trade hard, he has an opportunity to bring in a lot of those disenfranchised Democrats.
You need Democrats. You heard Leslie just talking about them. Union Democrats who are looking at the world right now and saying it's not fair. And they're understandably wondering whether Hillary Clinton understands and supports their cause.
That's today's intel, the economy.
All right, let's check these markets, up 112 points on the Dow. What's behind this rally, especially when we kept hearing over and over again, the sky's going to fall after Britain decided to leave the E.U.? We're weighing the odds of that. And whether this market is going to keep on going higher what you need to invest in next.
(COMMERCIAL BREAK)
REGAN: Breaking today, Facebook has been sued for $1 billion over allegations that it allows Palestinian terrorist group, Hamas, to use the service to plot attacks that killed four Americans and wounding one in Israel. The suit said the group used Facebook to share operational and tactical information with members and followers posting notices of upcoming demonstrations, road closures, Israeli military actions and instructions to operatives to carry out the attacks.
The suit was filed in New York by families killed by Palestinians and Israel and, you know, it brings to light once again that these social media companies they're going to be forced to start taking some responsibility because if these terrorist are communicating on their platforms, somebody's got to be held accountable.
Anyway, U.S. markets right now are up across the board as the S&P 500 hit a new record high in today's trading session. The Dow is nearing its own lifetime high following last week's blockbuster June jobs report. Wow, that was something.
And joining me right now, Empyrion Wealth Management founder and president, Kimberly Foss, along with Wunderlich Securities chief, market strategist, Art Hogan. Good to see you guys.
I mean, I was surprised, I got to say a little surprised by that jobs report, but, hey, I'll take it. Does it mean, however, Kimberly, that we're out of the woods when it comes to this economy that, you know, let's face it, still even with that kind of one of growth doesn't seem to be showing a whole lot of strength?
KIMBERLY FOSS, EMPYRION WEALTH MANAGEMENT FOUNDER & PRESIDENT: No, Trish, I don't think it's the -- we're out of the woods by any means. I think you're going to still see volatility with Brexit kind of, you know, subsiding here a little bit. I think the investors are really, you know, keeping their focus on the fundamentals of the economy which they should. And also, you know, corporate earnings, which is just kicking off today.
So, I think in the long run, this is going to take its toll on the market. And so, we shouldn't get too excited about this. But, hey, I love those numbers for the jobs. And now it's a good boost for the economy.
REGAN: You know, I wonder, Art, if a lot of people are looking on this are saying, hey, you know, this is great, because we're seeing some growth, but not enough growth to actually challenge what the Fed is doing. So, is this kind of, you know, a win-win situation for the market? And that Janet Yellen and company they're going to be compelled to keep the (inaudible) to keep rates as low as they possibly can given the global turmoil while simultaneously, at least we can start maybe adding a little bit in the way of jobs.
ART HOGAN, WUNDERLICH, SECURITIES CHIEF AND MARKET STRATEGIST: Yeah, I think that's exactly right, Trish. I think -- I think what we have right now is I think (inaudible) between the debt markets are telling us one story, right? We see yields that are low, as you just mentioned, and the S&P making a new high. So, typically it's not going to happen at the same time. Why is that happening? Central bank policy, right? So, we expect our Fed to be on hold for a little bit longer than we though. They will -- we certainly expect to see some intervention from the Bank of England and the ECB. It's obviously victory in Japan. It's obviously proves out that he's going to continue to be stimulating both the fiscal and monetary policy. So, that's it. You have both ends of the spectrum.
I would much rather see blockbuster economic data and the Fed have to raise. I'd like to see the Fed raise this year, right? We want the Fed to have to raise for the right reasons just like we want to see the unemployment rate to go up for the right reason because we have more people coming into the jobs market.
So, to me I'd like to see three months in a row a blockbuster numbers and have the Fed left in September.
REGAN: Yeah.
HOGAN: But for the time being with where we are at, we'll take this. It's good and, you know, the S&P still yielding more than the 10 year. So you might ask me about pattern and get 2 percent to get the 10 year, you want them half percent .
REGAN: Yeah, so in other words, encourages people to keep taking on all of this risk. I wonder, though, I mean, Kimberly, your thoughts on this. Has the Fed inadvertently really helped create or magnify this so-called income inequality issue where people with assets, people that can put money to work in the stock market are doing better, but those that really are living on a fixed income just don't have an opportunity.
FOSS: Yeah, I mean, we do -- I agree with Art, we do need to increase the rate. And I hopefully that Feds will do that later this year, you know, remains to be seen, but there is inequality may have bragging retirees, Trish, in my (inaudible) transition. We create that income off their portfolio and it's getting really difficult that has been for almost a decade now to create that yield.
And, you know, I warned investors and I warned my own clients. We make sure that, you know, we don't substitute stocks for the new bonds, right? So that you're over allocated in the stocks, because 318 stocks in the S&P 500 right now yields more than the 10 year treasury.
REGAN: OK.
FOSS: So, the concerned there is over allocating into stocks to get the yield. So just be careful because you need to make sure that the allocation of your portfolio has commensurate with your ability to take risk and stays in this market .
REGAN: Right. All right, you know, so, OK.
FOSS: . is created.
REGAN: So, you know, thinking about some of those retirees out there. Art, what do you recommend? Is it a dividend play portfolio? I mean, if you can't make any money in the Treasury, and you can't, where do you go?
HOGAN: And Kimberly's right. And that's why you have to be careful. I think if you have retirees that have been successful in utilities and telecoms and staples, those yields have come down massively, right? So, you know, you got multiples that are high and yields that are low and the usual dividend are on. So you have to go out and look at things like writs (ph). And I know P's and BDC's and things that have safe, or just look at your technology companies that are actually paying pretty good dividend certainly better than you hear me get fixed income market.
REGAN: Like?
HOGAN: Just be careful. Just know what you own. Now, if you earn a utility fund understand that's been going up for, you know, three years in a row. It's turning up multiples that are historically high and yields that are historically low.
REGAN: All right.
HOGAN: And find dividends, but find them in face stocks.
REGAN: All right, good stuff. Thanks so much guys. Again, up 109. Kimberly and Art, good to see you.
We're going to be right back with more after this.
(COMMERCIAL BREAK)
REGAN: It's good to be back from vacation. I missed you all. It was a wonderful week off with my family. We had a nice trip up to Maine and a few other places along the way, so fun stuff.
We got a big, big week coming up here on the show. Donald Trump is set to announce his running mate any day now. He's campaigning with Mike Pence in Indiana. Tomorrow and a lot of people are wondering whether Mike Pence is going to be the guy. General Flynn also has been floated as a potential pick.
What do you think? Who should be on Donald Trump's ticket for V.P.? Go to my Facebook page, let me know. Should it be Mike Pence? Should it be Newt Gingrich? Should it be General Flynn? Lots of names out there.
Meanwhile, of course, we are just a week away from the start of the Republican Convention, believe it or not, and I am going to be there live with you from Cleveland every day right here at 2 p.m. Eastern on "The Intelligence Report," and I'm going to be leading our primetime coverage every night at 9 p.m. with all the all-stars from the network. You don't want to miss it. We have a very big week planned.
So, again, go to the Facebook page, the show page @TrishIntel or you can go to real Trish Regan, that's my personal page, and tell us what you thought of today's show.
In the meantime, we got a market that still soaring higher here, up 107 points. So that was a heck of a jobs report, of course, on Friday, 287,000 jobs added to this economy. But as I have said, you know, you need to have month after month of that, not to mention that really, you know, for population growth, just to keep up the population growth you should be adding in the vicinity of 3 or 400,000. So hopefully, hopefully, 287 is a sign of more good things to come.
We got the market close coming up and Liz Claman's all over it. Heading over to her now. Liz.
END
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