Skip to main content

tv   Making Money With Charles Payne  FOX Business  April 14, 2021 2:00pm-3:01pm EDT

2:00 pm
shut down. completely unfair to them. the cdc has to change their posture. neil: congressman, thank you very, very much. carlos gimenez the florida congressman on those developments. one last peek at coinbase up better than 125 bucks right now as it soars. we'll see who sells after this. here's charles payne. charles? charles: hey, neil, thank you very much, my friend. good afternoon, everyone, i'm charles payne, breaking right now. by the way this is "making money." the s&p 500 adding to its record as the earnings season is kicking off. mixed reaction from big banks making big bets. this is the challenge moving the share price this earnings season. we'll tell you what to look for the biggest story in the investing world coinbase going public adding more legitimacy into crypto as bitcoin continues to soar into the stratosphere. we have all the angles covered for you this hour including the
2:01 pm
analyst who says coinbase is going to $600 a share. a brewing scandal involving the border. biden officials, hundreds of millions of dollars has tennessee senator marsha blackburn is this how the administration is going to fix the border mess? and going to war with the gop. all that and more on "making money." ♪. charles: so stocks were edging higher for most of the session. you know, sort of that old adage begat new highs. but internals have been really, really weak. in fact a lot of things are not matching up this week and maybe for a week now. think about this. a big jump in inflation, bond yields go down. taxes are going higher. geopolitical risk are intensifying. fear index swoons. stock volume dries up. all show long i ask our market
2:02 pm
expert what gives? what is the message? is it complacency and confusion? what is it? first the news of the day the crypto world taking wall street by storm. coinbase has begun to trade via direct listing and so far it is living up to the hype. while there are sky-high expectations for the company and its share price, no analyst is more up than our next guest. lisa moffitt written a 73 page course on coinbase. be bloody and resolute that backs up her 600-dollar price. lisa, i went through the report. basing on 2023 price to sales ratio, 18 times. that seems ambitious. walk us through how coinbase gets there. >> there are two big drivers of growth at coinbase. the first one is expected expansion in the retail investment in crypto assets.
2:03 pm
so we are expecting cryptocurrencies to become a pretty mainstream alternative asset class analogous to gold or other commodities or real estate and a scale to that level takes crypto from 2 trillion in market cap where it is now, 10 or 11 trillion five years from now, comparable to the other asset classes. that is one big driver of growth. the second one coinbase is not just a retail crypto brokerage company. they are a broader infrastructure provider for the whole crypto ecosystem. those revenue streams, while they're small today, they're expecting will scale over time as they, as the whole ecosystem expands. you see more applications, more merchants taking crypto orb. charles: right. >> the ecosystem just blossoms. charles: let's talk about that, leases is a because moments ago jay powell from the federal reserve it is a misnomer to call
2:04 pm
it cryptocurrency since for the most part people don't use to it buy things. is it better for valuation it remains an asset class than a currency? do you want to see the transition to where people are using any cryptocurrency to buy, for instance a basketball or something like that? >> yeah. we don't, i don't see the, in the at least in the mature markets like in the u.s. the payments use case for a separate cryptocurrency having a lot of viability although certainly like the u.s. coin a stable coin or central bank digital currency is certainly i think coming. for that we'll be essentially replacing dollars with the form of digital gold. no, but more, cryptocurrencies are lots of different things. they serve a lot of different use cases. >> sure. but a bitcoin though, bitcoin is important that it remains an asset class i think?
2:05 pm
>> yeah. charles: let me ask you about this as well. you mentioned the retail model. i looked at your report, that is the bulk of what you're doing. would that be easier barrier to entry? what about competition? >> there is a lot of debate whether there is, are we going to see fee compression eventually in the retail brokerage business? i guess the answer is eventually sure. soon we don't think so. people i think underappreciate how difficult it is to securely store crypto assets. you know the very unique form of assets because they are literally like a form of digital, digital bearer asset essentially. also how difficult it is to make markets in crypto assets because coinbase is running custom nodes on 15 different block chains to facilitate liquidity in exchange markets in 108 different crypto assets. that is not something other
2:06 pm
brokerages will wake up and replicate overnight. charles: i have a less than a minute to go. i have to ask about the crazy, historic volatility, but a lot of people are whispering, bitcoin winter, bitcoin winter. what do you say to the naysayers? >> that is why the title as you said, be blooddy, be bold and resolute. no question if you're buying coinbase you have to be expecting or anticipating that we will continue to see these crypto summers and crypto winters, these lengthy periods of you know, downturns and up swings in the market. charles: right. >> so we are fully baking that in. we fully expect 2022 revenues to be lower than 2021 anticipating we'll go through one of these downturns. you have to have the fortitude and long-term time horizon we think to look right through that. if you do in our view this is a must own asset in the space. charles: lisa, thank you so much for coming on.
2:07 pm
congratulations following the advice of macbeth. believe me we'll follow you a long time. we'll talk again real soon. >> thank you. charles: folks i want to bring in two more out of the box thinkers and investment pros. michelle snyder and defiance etfcio sylvia jaw blonsky. your opinions on coinbase and what it means for crypto world? >> i love what lisa had to say about it. i'm fully on board. they had 1.8 revenues year-to-date which is more than the entire year prior. a good way to get access to crypto even though not exactly crypto. people buy it on the stock exchange they feel safer about that, perhaps the biggest thing i think they have the first mover advantage. people are comfortable with the technology. they're used to trading crypto there, i think eventually will do brokerage like things and do lending and make loads of money doing things like that. charles: right. >> i really think this whole
2:08 pm
decentralized finance theme is starting with coinbase. i think the price keeps going up here too. charles: michelle, i will ask but the market but first, just a quick thought on this debut, just the emergence, the crazy emergence of the crypto world. it is taking over. >> i think today is a real inflection point for its legitimacy over the next few weeks. we'll see if it has staying power or if it's a bubble a lot of naysayers think. i agree with lisa and sylvia's thoughts in terms of the future. from a trading mentality we have to watch. the volatility has to come to stabilization. charles: let me ask you about these markets. we've been sort of drifting higher, but market breadth, internals have been so-so at best. we see the s&p turned lower. earlier today the nasdaq turned lower. what's going on? >> well the last couple weeks we talked a lot about the megacaps and the nasdaq. that sort of took over. even though it is exciting when
2:09 pm
it happens it doesn't really reflect the health of the economy overall. so we started out today seeing some rotation into the russells, back into the transportation, back into retail which are the inside sectors and definitely better in terms of gdp we have to see it continue in order to the see the breadth improve. interestingly enough, nasdaq went to 340 our target area, that was we have a keep our eye on the russell. it has to hold up above the 50 day moving average at 222. nice even number. charles: russell being of course, really the best gauge for the domestic economy. it has been like gangbusters. outperforming all other indices. i agree with you there. sylvia, let me go to your wheelhouse, seems like the problem with the in general is too much supply. ipos, direct listings, spacs, even your neck of the woods almost 100 launching,
2:10 pm
historic numbers. is there too much supply out there and could that cause more problems? >> no, i don't think there is too much supply necessarily. we started the year hot. we had over 87 billion of spacs out there. they have a trillion of acquisition capital in terms of etfs. 100 came out. if you look at the filings there are hundreds of them pending. takes 60 to 75 daysish to get an etf go live. you will see more come out. charles: okay. >> gives access to new emerging technologies. it is cooling off. but i anticipate it to heat back up. charles: michelle, when you come on you give us some names. what are some of your favorites right now as we're in this sort of weird period for this market? >> well i definitely like banks and with some of the earnings coming out strong, particularly in wells fargo that's one to keep an eye on but besides that thinking out of the box as you said, charles, in the beginning i really still am looking at
2:11 pm
gold here. commodities have been just surging and including oil catching up today. so with lumber about, steel, copper and sugar and food commodities all going up, gold is still languishing. inflation on everybody's lips. gld. 161 has to hold. 164. charles: that is bold, that is a bold one. i'm with you on energy. that is a bold one. less than a minute sylvia. the administration talking big about supercomputers. that is your wheelhouse. one of your etfs is the quantum net fund. how will this help the area. >> trillions of dollars will go into infrastructure. billions go specifically into this space. artificial intelligence, it is machine learning to do things like better improve the way we manage utilities, defend cybersecurity. quantum computing allows data to be processed faster and more efficiently than ever. that helps us compete with places likes china.
2:12 pm
charles: right. >> 5g connecting the world and urban america and equalizing technology communication. so massive year for technology. charles: your funds have been absolutely on fire. i think they're going to say that way. michelle, sylvia. love you, michelle, going for gold when everybody else runs away. we'll see how well that does. corporations, speak about running way a, they're moving away from georgia after this voting law. now their sites are on michigan but senator marsha blackburn has the message for 35 plus executives in michigan ready to pounce on the republican. be came. we're also going to stay on the coinbase debut in next hour. what is next in the digital disruption world as our antiquated financial system looks like it is under serious pressure. we'll be right back.
2:13 pm
2:14 pm
municipal bonds don't usually get the media coverage the stock market does. in fact, most people don't find them all that exciting. but, if you're looking for the potential for consistent income that's federally tax-free, now is an excellent time to consider municipal bonds from hennion & walsh. if you have at least 10,000 dollars to invest, call and talk with one of our bond specialists at 1-800-763-2763. we'll send you our exclusive bond guide, free. with details about how bonds can be an important part of your portfolio. hennion & walsh has specialized in fixed income and growth solutions for 30 years, and offers high-quality municipal bonds from across the country. they provide the potential for regular income...are federally tax-free... and have historically low risk. call today to request your free bond guide. 1-800-763-2763. that's 1-800-763-2763
2:15 pm
[ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. ♪ ♪ the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders.
2:16 pm
kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call... for fifteen hundred dollars off your kohler walk-in bath. visit kohlerwalkinbath.com for more info. act now! ♪. charles: the next showdown between the corporate worlds and their big ceos in the republican party, playing out in michigan, folks, where that state republican party planning new voting laws. i want to bring in senator marsha blackburn of tennessee. florida, georgia, texas made moves on their voting laws.
2:17 pm
michigan has a democratic governor, whitmer. apparently she will veto the bill but the republicans can override it. 35 business leaders are warning them to stand down. why is big business challenging the republican party, really aiding in sort of the description of these laws as being racist and nefarious? >> charles what they're doing is kind of a group think if you will. they're getting on this bandwagon. they haven't read the legislation. they completely misrepresented what was going on in georgia. if my grandmother were around she would look at them, saying you need to be sticking to your knitting because that is what she would say when somebody was talking about something they knew nothing about and these ceo's need to realize, they are there to build value for, for their shareholders.
2:18 pm
they are there to fill a need in the marketplace, to produce a good or a service and that's where their focus needs to be but to start making up things that are just not true about legislation, stick to their knitting. >> well you know the media also though playing a major role, and i will give you a for instance right. their headlines, keep suggesting that these republican laws they are mean-spirited at the very least while for instance, this current democratic-backed, for the people act of 2021 is being heralded as a voting rights bill. i know the chamber of commerce is pleading with the senate to reject it. how are you going to vote? >> i am not for that because what it would do centralize control of the elections and it would do away with voter i.d. requirements and like some of my friend this weekend said, next time they go to the atlanta braves field they will refuse to show their i.d.
2:19 pm
next time they board a delta airlines flight, they will refuse to show their i.d. because supposedly that is something that those corporations have deemed to be a racist type action and i think these corporations need to think this through. the for the people act would end up taking away the ability of states and local counties to run and manage their elections. this is a constitutional responsibility given to the states and they fulfilled this by overseeing their elections. and of course we want every legal ballot to count. we want everyone to exercise their right to vote. that is important. we have had more voter participation in recent years than ever before and it's a good
2:20 pm
thing that people are registering to vote but to have those that are illegally entering the country put into those voter rolls, to have individuals that are going to college in a different state from which they have their permanent address, that is wrong. charles: sure. >> to populate from so many different databases the voter rolls just leads to vote are fraud. charles: i think, this notion of the federal government really usurping the powers of state governments is it going to be something you will have to push back against for a long time. senator, i do want to ask you about this letter you sent to dhs secretary mayorkas pointing out that the administration funneled $87 million to a non-profit to fix the border crisis. that same group reportedly receiving another, we're talking massive 530 million-dollar contract after hiring a biden official. you even tweeted, quote, creating a crisis and profiting from it, that is the biden way.
2:21 pm
this is just brewing. it is huge news. tell us about it. >> well, we had picked this up early on they were beginning to place the money in order to house illegal aliens coming into the country. indeed, a friend had someone in san diego, they got moved out of their hotel and had to go find somewhere else to stay because of the federal government was taking over that hotel for the purpose of putting illegal aliens into those facilities. people are incensed about this. we knew that they were coming up on $300 million. then we find out this organization is getting the 500 million. it is tied to joe biden's staff member. this is something that needs, i have really close look. charles: senator, we are going to watch it very closely. we appreciate you bringing it to
2:22 pm
our attention and all the other comments. >> sure. charles: always a pleasure to have you on. thank you so much. senator blackburn. >> good to be with you, thanks. charles: jerome powell, meanwhile, folks, other fed members are keeping this charmed offense going but how long can and will investors keep buying what they're saying? two "making money" favorites, gary kaltbaum, phil blancato debate that next. the coin bank will cause every bank ceo to rethink everything before it is too late. seeing blood when you brush or floss can be a sign of early gum damage. new parodontax active gum repair kills plaque bacteria at the gum line to help keep the gum seal tight. new parodontax active gum repair toothpaste.
2:23 pm
(vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that.
2:24 pm
do you have a life insurance policy you no longer need? now you can sell your policy, even a term policy, for an immediate cash payment. we thought we had planned carefully for our retirement. but we quickly realized that we needed a way to supplement our income. if you have one hundred thousand dollars or more of life insurance you may qualify to sell your policy. don't cancel or let your policy lapse without finding out what it's worth. visit conventrydirect.com to find out if you policy qualifies. or call the number on your screen. coventry direct, redefining insurance.
2:25 pm
2:26 pm
charles: last week jay powell finally had his moment where wall street sort of began to give him the benefit of the doubt but with the economy soaring back, inflation data heating up, powell and company will have to keep so-called charm offensive on and do it on a daily basis. on that note powell spoke half hour ago the economic club in
2:27 pm
washington. later richard claire dan speaks later. how much longer will it work? want to bring in kaltbaum capital management fox news contributor gary kaltbaum along with ladenburg thalmann manager phil blancato. how can powell admit or brag that the economy is at an inflection point and promise rates won't go up until 2024? >> to their credit they were brilliant in the fed speak. they bought them some inflation and don't have to do anything about it. if we get runaway inflation they are in box. they will have no choice but to slow down the bond-buying program and raise rates. i think they raise rates, when that happens, market will get volatile. they bought some time but not indefinitely. charles: gary k. >> let me tell you a couple of things that happened in the last couple days and not by accident.
2:28 pm
jay powell sent out a couple of his minions to use the word taper. one of them said if we lit 75% vaccinations what they're trying to do already is test out the markets because they know if they lose markets all heck breaks loose. there is never -- i coined the line many moons ago, there is never a problem as long as markets go up. 30 trillion in debt, no problem. trillion dollar yearly deficits? not a problem. taxes going up? not a problem. nothing is ever a problem as long as markets go up. they need to keep them up. you see them coming out with differing thought process here but let me say what i really do believe. i don't think he has any tools, i don't think he has any control. massive debt, defts, money printing is not a tool or control ultimately it will be the downfall of markets unfortunately, too many people believe he is a genius and that is the shame of it. >> gary, i'm a fan but it got to
2:29 pm
jump in how can you say there are no tools, can raise fed funds rate to close inflation? he stop the borrowing window, stop bond-buying program. that is the -- >> you think there is inflation gets out of control one man can control inflation? i don't think so. >> federal reserve will jump in and raise rates like we did a bunch years ago and done every single time it worked. what they have to be smart about not let runaway inflation get 6, 7%. going from zero to a higher bound. that is a very different narrative. let's not get over our skis. give the guy a chance. we wouldn't be here without what they did. >> a chance? they have taken us up to 30 trillion in debt. taken rates down to zero. they printed tens of trillions of dollars, trillions, not billions and got the europeans to do the same thing. -- these people. >> financing -- charles: phil, let me jump in here for one second.
2:30 pm
phil, how do they unwine all of this though? i mean let's say give them all the credit in the world, how do they unwind all of the accommodation that they have committed to that they have done without the market imploding? >> now implode is a big word. they do not unwind without getting voluming tilt for sure. if you get 8% ronald reagan era gdp growth in the second quarter and total of seven or 8%, and get 27 trillion-dollar total gdp growth now you're no longer in negative debt-to-gdp ratio. on that type of environment you can unwind because of the heat of your economy. so in fairness that is exactly where we're at. the playbook is working. i'm not saying you won't -- you will but you can do this as long as you get the kind of growth we're expecting. the problem gary would be right, if we don't get the kind of growth we're expecting. charles: gary k., are you buying that? >> negative, my friend.
2:31 pm
we have never worked our way out of massive debt and deficits. he distorted every price and every yield. junk bond yields are at the lowest ever while junk bonds have the highest debt ever. economics 101 says to accommodate for all of that rates should be much higher but he just rigged and manipulated as i stated, and let me give this number out again, $250 billion a month is being printed to buy up the assets to keep rates low in order to fund all of this nonsense that is going on and next up is biden-nomics which is basically we, government, no longer we the people with massive spending and higher taxes on the electorate. so not thrilled. let me be clear, i hope i'm wrong about all this, i really do but i have studied history and the history of skyrocketing debt and deficits and printing money is not good.
2:32 pm
look up the weimar republic back in the early 1900s, you will get a feel. charles: we've got less than a minute to go, phil, i will give you the last word. >> i love phil, by the way. >> the reality is gary is right here, that in the end we do need to stop adding to the pile. now we're financing it for a fraction of what it normally costs. interest rates are still incredibly low. so for that reason we spent enough to get it to this point i will agree with gary, time to pull the line on the spending, do just enough to keep it going. hold the line here. you have to grow the revenue side to sustain this side. we're still the biggest country in the world. for that i think we can work our way out of this. charles: that is when everyone agrees will see the taper tantrum. why the trial balloons. i love the conversation. we'll pick it up at some point. meanwhile coinbase one part of dismantling of our financial system as banks and nations are scrambling to survive in this
2:33 pm
brave new digital world. the question, are they too late? the biden administration wants more evs on the road we'll need more batteries and not from china. how one american business a blue-collar american business is making that happen. we'll be right ♪♪ back. t you didn't see coming. and it won't matter what hit you. what matters is you're down. and there's nothing down there with you but the choice that will define you. do you stay down? or. do you find, somewhere deep inside of you, the resilience to get up. ♪♪ [announcer] and this fight is a long way from over, leonard is coming back.
2:34 pm
♪♪ ♪♪ ♪♪ incomparable design makes it beautiful. state of the art technology, makes it brilliant. the visionary lexus nx. lease the 2021 nx 300 for $349 a month for 36 months. experience amazing at your lexus dealer. everyone remembers the moment they heard... “you have cancer.” how their world stopped and when they found a way to face it. for some, this is where their keytruda story begins. keytruda - a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced nonsquamous, non-small cell lung cancer where keytruda is approved to be used with certain chemotherapies as your first treatment if you do not have an abnormal “egfr” or “alk” gene.
2:35 pm
keytruda helps your immune system fight cancer but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain or tenderness, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation, dizziness or fainting, changes in appetite, thirst, or urine, confusion or memory problems, muscle pain or weakness, fever, rash, itching, or flushing. these are not all the possible side effects. tell your doctor about all your medical conditions, including immune system problems, or if you've had an organ transplant, had or plan to have a stem cell transplant, or have had radiation to your chest area or a nervous system condition. today, keytruda is fda-approved to treat 16 types of advanced cancer. and is being studied in hundreds of clinical trials exploring ways to treat even more types of cancer. it's tru. keytruda from merck. see the different types of cancer keytruda is approved to treat at keytruda.com, and ask your doctor if keytruda
2:36 pm
can be part of your story. man: "fender bender," take 1. tonight's matchup: me versus an ugly fender bender. if i can eke out a win, it's going to be a miracle, baby! uh, mr. vitale? it wouldn't be a miracle because geico gives you a team of experts to help manage your claim. it's going to be a nail-biter. no, the geico team is there for you 24/7. geico is awesome, baby! (shouting) too much? i think we got it. yeah. thanks. thank you. geico. great service without all the drama. keeping your oysters business growing thanks. has you swamped.ank you. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at indeed.com/promo
2:37 pm
♪. charles: today's trading of shares of coinbase seeing something of a coming out party that introduces the company to the world while establish more credibility on wall street for the crypto world. my next guest was a champion of the company as he foretold a financial revolution that will change everything. >> it will be a way for people to play the cryptocurrency world, and if those valuations are right, we'll find out after the 14th, it will send a powerful message which way we think we should be going and hopefully regulators and
2:38 pm
politicians will heed that message and allow it to happen. charles: joining me now, bianco research, jim bianco, so far the first day of trading living up to your observations. what are about the disruption to our financial system? >> a fancy word called centralized finance. we have a new protocol for the internet, web 3.0, all decentralized, nobody controls anything. nobody can censor anybody. that includes everything about the internet. when you get to that point, we're not that far away you are basically running the internet off the blockchain, then you can allow for decentralized finance. you can largely have a financial system that there is no permission or bank or middleman that will stand there and give you permission to get a loan, or to make an investment, or not. and that we are moving in that direction. so decentralized finance will not only open up the
2:39 pm
possibilities, but it will dramatically lower the costs if done directly and it is speculative, to practically zero. it will open up the world to a lot more possibilities that an we have right now. so it is something that is speculative and it is something that it is very exciting f they pull it off it, could be one of the biggest things we've seen in finance maybe ever. charles: who is they and give us a time line? >> oh they are the people that are working the crypto universe. they put together programs and protocols on separate block chains that are allowing you to traffic in those protocols on the blockchain and allowing you then to take out loans, borrow money, you know, stake, stake our coins to get ahere rate of interest. charles: right. >> by derivatives, buy insurance , buy lotteries. that they're already there and exists right now. it needs to be battle tested and
2:40 pm
needs to be expanded and that is happening almost every day. charles: you're known for your macro expertise. i want to get comments on stalling return to normalcy. what is the importance of full return to the office? because it feels like when i read your stuff, that is sort of the lynch pun to complete normal sy from businesses and society as large. >> that is the biggest issue. when we go back to normal is, we don't need to think like what it was in january 2020 going to the office? that is gone. that period of our life is over. there will be a new meaning a new purpose, a new way of thinking about the office. i don't know what it is. i don't think anybody knows what it is but it is not going to be we'll all huddle on trains to do back to the office from 9:00 to 5:00, five days a week just like we did before. we've shown over the last year especially in the service sector, we can sit at home connected and work just fine. look at the bank earnings today.
2:41 pm
all that was accomplished with all their employees sitting at home. we'll have to rethink what the office is. if it is less in those big office towers in midtown manhattan it, saves those companies a lot of money. they don't need nearly as much space as they have right now. charles: jim bianco, always appreciate our conversations. always learn something frow. i always feel better for some reason. >> thank you. charles: speaking of revolutions, folks, the electric vehicle future is right around the corn but it hinges on the production of lithium. american automakers rely heavily on other countries, particularly china to provide this metal but now there is one north carolina company is really trying to change that. grady trimble is on location with more. grady. reporter: hey, charles, piedmont lithium is the name and they just inked a five-year deal with tesla to provide lithium to that automaker. you can see here, they're not actually mining yet.
2:42 pm
they're not pulling lithium out of the earth, not in large quantities. this is a drilling rig. what they're doing, sending this into the ground and taking out the core samples. it is slippery here. these core samples have some lithium. they are trying to identify the densist areas where to build the mine. here is the problem. if you look at numbers, vast majority of world's legitimate numb is processed produced in other countries and in australia and south america and shipped to china and processed turned into batteries sent to the united states where it is in our laptops, our phones, our cars. the goal of this company according to the ceo, to have a domestic supply chain not only more secure, creates american jobs but also keep prices down compared to what we're doing right now, bringing it all from china. listen. >> i would like to say the president spent the last century
2:43 pm
striving for energy self-sufficiency, when we got there the goalpost shifted from oil and gas to electric. we're way behind. there is opportunity to catch up. no reason we can't. we need to do it. we need to start with the raw materials. reporter: this is one of every companies in the united states and in north america hoping to do it. and i asked about the demand, will there be enough demand to give this, sell this to all the automakers? they expect yes, you have got tesla. you've got general motors going by 2035 all electric. just in the next four years industry analysts are expecting demand for lithium to more than double. it will grow even more looking into the future so this is just the beginning, charles. but they expect to be mining here as early as next summer, potentially summer of 2023. charles? charles: wow. another way america could go for energy independence. fantastic stuff. thanks a lot, grady. appreciate it. you know we had senator blackburn on earlier in the show
2:44 pm
sending a really strong message to businesses who are going after the republican party over these voting laws but beyond this debate and fingerpointing where are the solutions? coming up republican congressman burgess owens will give us the answers. meanwhile the s&p 500 hit a new record today. it is sort of waffling right now. what you need to know as we head into earnings. how to pick winners when so much is expected. we'll be right back. when traders tell us how to make thinkorswim even better, we listen. like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders—they're made by them.
2:45 pm
thinkorswim trading. from td ameritrade. i had saved up some money and then found the home of my dreams. but, my home of my dreams needed some work. sofi was the first lender that even offered a personal loan, and i didn't even know that was an option. the personal loan let us renovate our single family house into a multi-unit home. ♪ and i get to live in this beautiful house, with this beautiful kitchen,
2:46 pm
and it's all thanks to sofi. ♪
2:47 pm
(woman) i don't want to look like this anymore. (man) and it's all thanks what is happening to my body? (woman) why can't i lose weight? (announcer) you may be suffering from insulin resistance. measure your waist. females measuring more than 35 inches and males measuring more than 40 inches may have insulin resistance. to learn how to reverse insulin resistance and lose weight effectively, go online to golo.com. once again, that's golo.com.
2:48 pm
♪. charles: well companies are ramping up their pushback against these voting bills and laws and in fact they call them discriminatory. and now there is a letter published today, hundreds of business leaders, celebrities, joining the major corporations. talking like amazon, bank of america, google, many more, 250 of them. they say they want to make voting more transparent. i want to bring in republican congressman burgess owens of utah. congressman, you grew up in the south. what do you make of this sort of casual use of terms like jim crow and how major league baseball reacted and now this letter? >> charles, first of all, my first interview from the rotunda. thankful i'm doing it with you, my friend. thanks so much.
2:49 pm
i grew up down in the deep south. i think it is demeaning, racist to think that black people because our skin color can't do what every other race does. my message to my friend out there across the board, when a democrat tells you they are coming to help run. these folks, what they're going after, keep this in mind, they're going after the middle class. they're going after the small business owners who create this remarkable middle class, gets us into generational wealth. taking $100 million from atlanta, all the businesses making it happen, or the last year-and-a-half to have these riots, always happening in urban communities and they unleashed these anarchists and marxists to destroy small business owners. so understand what we're all about. by the way, these corporate ceo's, they're not our friend. they understand exactly what they're trying to do. they see themselves as globalists. don't see themselves as american. they're doing everything they can to undermine our values, way of life an election laws. we're going to, we're going to
2:50 pm
understand and kick back on this one big time. charles: you know, i told people a while back, and, all you have to do is long where these companies get the majority of their revenue, the majority of their growth and you can see why they have taken a calculated gamble of now going to war with conservative. s. if i'm nike i can replace those customers easily. most conservatives will not boycott the products. you played professional football. started businesses. you have a organization that helps incarcerated youth. rather than scoring political points, ripping this country apart, what can politicians get at the issues we all have in common, fixing them? >> i think the first thing we can do is recognize we don't have to reinvent what it looks like to have success in our country. as a politician, someone representing my state, my district, my goal is to educate them to the fact we do have an
2:51 pm
enemy. there are these globalists who really care more about china, their profit, than we the people. we can do something about it. i'm done with coke. i'm done with the nfl. by the way i'm cosponsoring a bill to take away the antitrust protection from the baseball league, back in 1922. they don't deserve it anymore. anyone who decides they want to destroy our country by tearing us up, taking those things you should not have anything to do with, putting down half of the population. they don't need the protections. do their thing but make sure we the people understand what we're up against. would i suggest this, be a principled people. whenever i can, not buy the product for people who do not like our country, those that demean my race, i will find another product or drink water if it comes down to cokes. all right? charles: i'm glad you're in the rotunda. glad you're in washington, d.c. bring some of those solutions,
2:52 pm
some of those business oriented solutions steeped in the constitution that i know you have always been about. congratulations on our victory once again. we'll talk soon. congressman owens, thank you very much. >> charles, free market is the answer. thank you so much, buddy. >> got it. speaking of the free markets, earnings season kicking off today. you know what? here's the problem many stocks are priced for perfection. how do you find ones you want to be in? what will be the next major catalyst? this market feels like it is grappling for something to propel it higher. we'll discuss it next es falling. but i've seen centuries of this. with one companion that hedges the risks you choose and those that choose you. the physical seam of a digital world, traded with a touch. my strongest and closest asset. the gold standard, so to speak ;) people call my future uncertain.
2:53 pm
but there's one thing i am sure of...
2:54 pm
use a single hr software? nope. we use 11. eleven. why do an expense report from your phone when you can do it from a machine that jams? i just emailed my wife's social security number to the entire company instead of hr, so... please come back. how hard is your business software working for you? with paycom, employees enter and manage their own hr data in one easy-to-use software. visit paycom.com for a free demo. hon? first off, we love each other... living with insulin requiring type 1 or 2 diabetes? how does no daily insulin injections sound? omnipod delivers insulin through a tubeless, waterproof pod. and the best part.. no more daily injections! plus, omnipod is covered by most medicare part d plans. get started with a benefits check today. go to omnipod.com for risk information, and instructions for use. consult your healthcare provider before starting
2:55 pm
on omnipod. simplify diabetes. simplify life. omnipod.
2:56 pm
charles: it's been an exciting session for coinbase, what's really sucked all of the oxygen out of the room, but banks did post strong earn earnings. energy also gushing ahead on demand data. so where does the broad market go from here? rob luna, before we get into the market, coinbase opens at 381, now it's starting to pull back at 335. are you going to buy this dip, or have you already bought some? >> no, i haven't bought any, but it is a company i want to own. i'm hoping it gets into the 200s, 270, 280. i think z this volt tilt is going to be around another week, so i think dollar cost averaging, buying some of these
2:57 pm
pullbacks. hopefully, a lot of people didn't get in at that 420, because you've got a lot of catch-up to do if you did. charles: that's a tough one. this is going to be a big story for a long time. i feel like technology stocks are struggling in part because investors may be, particularly the fast money investors, positioned to buy coinbase. it wouldn't be the first time we've seen this happen. are you concerned tech the, it's fallen apart since september, but it hasn't been able to maintain momentum. >> i think is so, charles. i think there's a lot of momentum in the technology names, i think you really hit the nail on the head. i think this is a trade that people pulled some money, put it in bitcoin, coinbase, i think that's where the momentum money is. long term, like i've talked about before, you've got to own technology. that's where the growth's going to be going forward. but i think this is a trade that's going in the market, people trying to catch some
2:58 pm
upside on coinbase right here. charles: and the fact that the nasdaq 100 climbed off the canvas twice and came back in the blink of an eye, we need to remember that. all right. we've kicked off earnings season, and, you know, it's interesting because going into this earnings season we saw the biggest surge and consensus, and i think a lot of that had to do with the reopening story. the bottom line, rob, is that the bar is so high, it seem like companies are going to really have to post amazing numbers and guidance. and it makes it tricky. or what are your thoughts? how do you guide someone through an earnings season that's going to be amazing, but maybe that's not going to be enough? >> that's ooh exactly it -- that's exactly it, charles. almost perfection's expected because we have the stimulus, the reopening going on. i think look no further today, we had goldman report and jpmorgan report. both had great numbers. goldman, i think, is the tale to look at because they blew are away numbers, gave great
2:59 pm
guidance. but if you look at investment banking and wealth management, in particular wealth management, those numbers were best ever on record. that was a little under the radar. so a note is look at some of the companies that may have some surprises not being calculated in. if you don't get that, looked at these two stocks today. you're not going to get the performance you're expecting. charles: and, of course, to your point, you've got to drill couln there. doesn't mean you can do it every time. got less than a minute, reopening names have bounced back, but i'm going to trade my stay at home names. are any of those names you think people should own? >> yeah. i think there's a lot of them, because i don't think it's stay at home. i think this is the new economy. i think companies like crowdstrike who are allowing people to work remotely is a company you want to own, and i think zoom. that company is 20-30% off the highs. everybody's moving that direction. it's improving the quality of life. i think those types of names are here to stay, longer term more than just through the pandemic.
3:00 pm
charles: we just had a zoom baby shower for my niece -- [laughter] so i think you're right. i think it's here to a stay. rob, we covered a lot, always appreciate it. handing it over to my colleague, liz claman. you know, coinbase is slipping a little bit here, liz. liz: just a bit outside. you know, we know how coinbase opened on the nasdaq, right? charles, you and i know it's how it closes. how will it finish its first session. right now the digital exchange giant still up 32%. this as you can see it stands at $329 even. now, while it isn't exactly juicing the nasdaq, it sure has electrified the investment world. some on wall street call it the coming-out party for all cryptocurrency while others say it's really only a matter of time before new rivals knock it off the pedestal. our cryptocurrency panel will lead our show. markets are mixed, as i said,

46 Views

info Stream Only

Uploaded by TV Archive on