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tv   The Claman Countdown  FOX Business  April 29, 2021 3:00pm-4:00pm EDT

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get into. charles: and full disclosure we actually had our subscribers take profits on google and yesterday pulled back it's up again today. i'm with you though those non- sexy niches have been pretty darn good you guys are too, rob, paul, thank you both very much. liz claman, over to you. liz: nice, nice markets here, thank you the cp effect we like it very much. we're going to triple digit gain for the dow up 227 folks we got big tech driving markets higher after block blockbuster earnings reports from apple and facebook but that was yesterday. today the s&p and the nasdac have hit intraday all-time highs , and we close there. right now the s&p is still heading for a record close, nasdac just slightly light but we've got green on the screen. it is all about amazon with less than an hour before what's expected to show a river of profits, bigger than its aquatic namesake, and with the $200 billion man jeff bezos,
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will he give the thumbs up to a split of the stock? our experts are gathering around the amazon earnings table. they are in front of their cameras you can't miss what they have to say. now as we wait on amazon, e-commerce giant overstock absolutely knocking out the earnings lights as the stock hurdles higher on blockbuster sales, investors want to know when this blockchain business will be a reality as crypto fever hits the nation. we've got overstock ceo jonathan johnson, he is here in a fox business exclusive. >> and the nfl draft is tonight, clemson qb trevor morris, soon to be minted pro-football newest millionaire but one company is hoping to cash in on the thirst of pro-football's fans and the ceo of resort and entertainment it is publicly traded and he's here in a fox business exclusive but as we look at the markets here and we are 59 minutes away, we do have
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the s&p 500 blasting its way to fresh intraday highs. it be its 25th record close of the year if we get there, well within sight though. we do have the s&p up 30 full points at the moment the exclusive club of stocks, really only needs 4.4 points to notch s way to all-time closing high, earnings positive it of course is the main driver here, in the final hour, but bitcoin is facing a new test, courtesy of china. yeah the government, bitcoin is tumbling right now about $1,739 to 52941 after reuters reported late this afternoon, that china 's capital city of beijing is probing data centers that are connected to cryptocurrency min ing, but they're trying apparently to look for is to get a better handle on how these crypto monitors which apparently use a huge amount of electricity to do what they're trying to do, how they impact the energy consumption in the country. this inquiry follows an order last month to shutdown all
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crypto mining activities in the inner-mongolia due to energy efficiency concerns. coinbase is feeling the heat right now because we always like to look at sort of the related stocks right now so we're looking at coinbase. it is down 1%, blockchain a lot of these names are all moving lower. the big e-commerce firing off its quarterly earnings an hour from now, amazon expected to report a 90% gain in profits for its first quarter. this report has huge implications for everything, from retail to the cloud to streaming and more, but it's rumors swirling about an impending stock split, rumors , i said, that have investors on the edge of their seats. here to gain it all ahead of the big numbers, chatham road partners director partners collin redler, and also charlie gasparino. collin let me start with you we'll get to the stock split in a second but i see three crucial revenue pieces here, e-commerce, subscription numbers, web
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services. which ones could amazon obliterate what do you think? >> you know, so liz, this is likely going to be the second quarter that amazon is going to print revenue north of $100 billion. we're looking for 108 billion above the high end of their guidance range, about 43% year-over-year growth. aws has always been a little bit of concern that the growth is slowing down, would like to see that tick backup to 30% but the real surprise we always like to highlight is the advertising business. that could be a real growth driver, it was the biggest area of growth in the q 4 and we look for it again for that to be a driver of results. liz: well, you're a bit higher on the revenue than the street. you're right about that. that is interesting, general consensus be about 104.5 billion scott? you are our stock split guru. this has really attracted the attention in the past i want to say four days, charlie gasparino of course broke the story charlie we'll get to you in a second but scott will amazon announce a split and what would it look like?
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>> well, i think a lot of traders on the shoe would love to see a split, because recently in the past nine months, the stock has been acting very lethargic, in the huge range, the spreads are wide, the volume is diminishing, and i think a stock split be what the stock needs in order to get it going to break it above this range. i don't think just a strong report is going to do it. you saw what happened with tesla in july. everyone was like oh, a stock split will do nothing. well that 5 for 1 stock split is the reason it hit 900 which was 4,500 post-split. we're not going to see that type of movement here with amazon. i think a lot of investors, the new investors are shying away from amazon because the cost to get in is too much. it's not about the slices. it's the psychology of the stock one share is like $3,500, 1,000 shares is 3.5 so the 20 somethings and 30 somethings, they don't have that kind of money to get involved, so they just are avoiding it and all of
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the institutions already own it and then you also have, you know , jeff and mckenzie that own 15% of the float that are net sellers. after every quarter, jeff sells 1 billion or so dollars worth, after the divorce you have mckenzie selling a portion for her charitable trust which is great, thank god for her donating to charities but the 15 % of the float is being net sold, so i think if they do a 6 for 1 or a 7 for 1 or 10 for 1, volume will explode, jeff and mckenzie could sell their shares into strength, and you're going to see a hell of a move and maybe it could even get into the dow jones. liz: right, well, 6-for-1 and 7- for-1 that's the point charlie when you get your stock price more affordable for the mom and pop investors suddenly maybe the doors of the dow jones industrials be open to amazon. what are you hearing today, ahead of this? charlie: well listen, i'm only as good as the people i talk to, and we speak to scott ridler, and, you know, he's been talking about this for a long time, saying it's either, it's going
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to happen now or it's going to happen, in 2001 but it's going to happen and that's essentially what we reported this week. i can't tell you what they are going to do. i have no idea. the dynamic is interesting politically inside amazon. you have jeff bezos stepping down in a couple months. you have a new ceo who really, you know, doesn't care. i don't think he cares if it's a $3,000 stock, i think there's some sort of a thing with bezos where he wants to go out with a $3,500 stock. the new guy just wants to show growth and more people buying the stock, and the market capex anding, so i kind of think if i was to bet that this is not the quarter they are going to do the split. they are going to wait until jazzy takes over as ceo, and then do it. it's every logic, it's logical. again, i have no sources inside amazon. when i tweeted this stuff out and wrote about it, i was
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quoting smart people like scott saying they think this is going to happen and the speculation is obviously been picking up as the quarter is coming down because it makes very much conceptual sense to do it. i just think there's a political thing here. this is me. maybe you guys know better you know bezos better than i do. i kind of think it'll happen when the other guy is in charge, and i think it won't happen this quarter but probably some time in 2021 just political ly. you guys can hash that out as far as i'm concerned. liz: well what about that, collin. where do you stand on this? you have covered amazon, i don't know how many years, because you and i together have continued to talk about this when we were both at different jobs so to me, i do think that scott and charlie have a point. now it to be a 7-for-1 split if it were but what about the timing for this company, and to that end, jeff bezos loves his blue origin startup, and of course we're going to be talking about that later and showing you
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guys a new video that he's just posted about his rock it ship startup, but boy that would give him more coin to put that forward, collin. >> yeah and it's an important point when a founder steps down from that ceo position, right? yes, he'll be on the board, he'll still have a presence, but there's a founder-led energy that, you know, has been driving a lot of these large initial tech companies that have made them what they are today, and so just like we've seen with a maturation happen with apple, when tim took over for steve, and you lose a certain quantity. now the thing to remember about amazon is the last year, they are going to have massive comparables that they are going to need to lap. this is a company that historically was growing in the 20% range, that accelerated up to the 38% in 2020, had 38% topline growth. we're going to see 40% likely this quarter, so those numbers
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are going to be hard, and make a hurdle for this company. i do think a stock split would help. charlie: you know -- liz: scott, let me just ask scott what the trade is. options traders are piling into this stock right now, scott, as you know. some of these options empire friday, $3,500 strike price. what is your trade here, ahead of these earnings? >> well here is the thing. we've seen this past week a lot of strength sold on blockbuster reports kind of like in apple. you saw a decent strong report in microsoft it was sold, strong report in tesla sold. so this report has to be very strong and i don't know if that's going to be enough to make a great trade here. the chart is setup for a big move. it needs actually a very strong report, and i think it needs the split in order to take out the 52-week high. the 52-week high is 3,552, so traders that i train, if they are going to play it after-hours they want to get above a pivot so that's 3,552 kind of like
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facebook took out 315 and went to 330. what i'm doing is i bought call spreads so this way if there happens to be a split and you see a $200 move which could happen with that, then you're involved with the call spread because your risk is premium paid. i'm not going to be in the stock because if they don't do a split and they are in line, i think you can come in 200 points and stay in the range and then, perhaps, maybe they will learn their lesson and jassy will come in next quarter an split the spot so this way the street doesn't split the stock for it. charlie: it's a great point but one other thing i want to make clear here, jeff bezos doesn't care. he should care about shareholder s, -- >> he should. charlie: he has shown a sort of what is the right word for it >> dissonance. charlie: of shareholders and that's why i don't think today will be the day he cuts it. i could be wrong i hope i am wrong because it's a good story but i think when jassy becomes
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the ceo, he will have to care for shareholders, and when jeff bezos realizes that he has to fund his space projects with stock that doesn't move, and scott makes that really salient point. they've had knock-out quarters and the stock hasn't moved in nine months? that's an issue if you want to fund some side hustle like this space thing. liz: we're looking at, stock is at 34 of 66 and it is under under well amed against the s&p and amazon right now, we're waiting on those numbers, gentlemen, thank you, collin, scott, charlie gasparino, okay. we've got 48 minutes before the closing well brings, and by the way it's not exactly an apples-to-apples comparison but while amazon is up 6% year-to-date, look at online retailer overstock. overstock has jumped 57% year-to-date, 486% year-over-year.
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would it be the blockchain effect? well it's jumping 5 1/3% right now, overstock ceo jonathan johnson is going to join us in the next half hour, right here, in a fox business exclusive, so do not miss that. >> the nfl draft kicks off tonight in cleveland, but in what could be the most exciting move ever, on or off the grid iron, one company is looking to create the disneyland of pro football. hall of famers ceo michael crawford is here, can he work the magic again that he picked up during his 25 years at the mouse house? he's opening up his playbook, next, closing bell 47 minutes away. dow is up 249, s&p jumping nearly 31 points, the "claman countdown" is coming right back.
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and get unlimited with 5g included for $30 on the nations fastest, most reliable network. liz: cleveland rocks, or it will about five hours from now when the nfl draft kicks off as the host of the nfl draft. right? they've got locations all around the town, rock and roll hall of fame, first energy stadium, nice
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of course, it's freezing, right? what a difference a year makes, right? nfl commissioner roger goodell, has come a long way from his basement where last year, due to the lockdowns he conducted the draft from his man cave, i remember sitting there watching this and thinking oh, my god, this is so different, so weird. well, things have changed. they aren't totally back to earth but the moment right now is to talk about what is happening at this second. tony common, the jacksonville jaguars are on the clock with the number one pick. everybody seems to think and there's tony right now, everybody seems to think they know who the jags will be taking , right? clemson quarterback trevor lawrence is all but guaranteed to be heading to the sunshine state most lick likely with a bulging wallet because the signing bonus is expected to be a cool $22.6 million, as lawrence begins what jaguar fans hope is a hall of fame-
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worthy career but anything could happen. standing by live in the thick of the action, in cleveland, is the former disney executive, now spearheading the most epic re imagining of canton, ohio, hometown of the pro football hall of fame. here, in a fox business exclusive let's bring in hall of fame resort and entertainment president and chief executive officer michael crawford. michael great to have you. the three day nfl draft is right there. you're in the middle of it, what's the buzz like around the arena and the area? >> i couldn't be more excited i got my nfl draft hat on. i just met with the commissioner about an hour ago. it's exciting. the weather is a little bit dicey, but you know what? these fans in cleveland they don't care. they're out in force, so it's a really interesting time and it's draft day so it's fantastic for the nfl and the sport of football. liz: well hold on. you just said that you met with commissioner goodell. what did you guys talk about this is breaking news. >> well we talked a little bit about how the day is going to go , you know, the things that he has to do, but we also talked
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about how we can work more collaboratively together, and i will tell you, roger is a fantastic guy. he has led the nfl with class, dignity and he has led it to new heights so a big part of what we do is honoring and inspiring those that participate with football, and you know, we talked a little bit about how we can closely collaborate in the different business verticals that my company are in, you know , media and gaming and so on , and he was excited to see some of the great progress that we've made in construction around the hall of fame. he was there last night and we were filming a new series about some oftenshrinees going into this year's class and that was exciting to see as well. liz: let's talk about your project, the hall of fame village, and right now, you're in phase ii, as i understand it. it was supposed to be done this year, but i'm assuming due to lockdowns and the pandemic you have to push it to next year , but where do we stand on the water park and the hotel and
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everything that is really what you hope to be the disneyland of pro football. >> well, we took advantage of things, and we opened a hotel, we've had the hotel open for about six months now, it's doing fantastic. synergy in our business model, where we're bringing, you know, youth camps and business travelers and others and putting them in our own assets. we have other assets that will be finished by enshrimement early august and by the kickoff of the until preseason the cowboys and steelers is going to be a great game and we'll be full of fans and we've started to break ground on other things. all of the retall and waterpark, so we're looking at about another year and a half beyond 2021 and we'll have phase ii done and we're already planning phase iii. liz: you've got to tell me what the driver will be. your stock is up today, obviously there's so much chatter about the nfl and everything that's happening in ohio, but what will be that main driver that you see that could
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pump up your stock at some point to a bit higher than where it is right now, $4.23? >> well, we've been fortunate. look, we have access to brands and brand partnerships and intellectual property, and as i know, working with disney and other companies, anytime you have access to content, you can create experiences virtually and in reality that others can't, and so we announced our fantasy football league this year. we think that's going to be a smash hit. the staking has already staked out several times for different teams. it's a franchise-based model where you can support a team in a geography, unlike any other fantasy experience. sports betting, not legal in ohio yet but we're certainly having conversations with several partners on that front, and hopeful that it does get legalized in the near future our goal, we sort of sit at the crossroad of sports and entertainment so physical assets where we can entertain guests with sport and non-sport events we've booked a ton of different concerts, women's football championships, kickoff to the
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nfl season, lots of youth football and youth sports. we really do have a unique opportunity for synergy to drive-thru what we physically create into our media division and into our gaming division and i think people are seeing that and we signed a lot of media deals as well that we're excited to bring to life this year and next. liz: well really quick, but i'm fascinated that you guys are jumping on the nft, the non-fun gible token freeze and you'll have nft's of certain top top former football players where do you see this going? >> listen, i think everybody likes to collect, and this is just another way in which we can create experiences that fans are really wanting to have, and you know, people have talked about is this a bubble or is this going to continue. nft's have been around a long time and again when you have content that is in high demand, we're in production of our first three nft's right now. we've already back-filled the pipeline, so we're looking to launch the first ones for
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sale in early may. we haven't announced the official date but you'll start to see some press come out over the next couple of weeks, and we're excited about the product creative. we've had access to some really great unique creative talent and i think people are going to be blown away with the product that we're going to put out. liz: well, look forward to doing the water park in canton, but you know, i'm wearing my bronze orange today, mike, so go browns i miss you guys too. mike crawford, good luck to you guys at the hall of fame village thank you so much for joining us >> thanks for having me. liz: i have a question for you guys. what do you do when workers are bailing on their jobs in a yolo economy and you're trying to hire? you go to the bots. we're about to show you the high-tech solutions some restaurants are serve up amid employee shortages, with the closing bell ringing in 36 minutes and word that beijing will begin probing companies
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that mine cryptocurrency hitting bitcoin at this hour, and light coin, we see both of those prices down, ethererum hit a record high overnight. it's up about .4 of a percent stay tuned we're coming right back with overstock ceo and backer of blockchain base exchange, he'll give us his new take on this. (vo) while you may not be closing on a business deal while taking your mother and daughter on a once-in-a-lifetime adventure — your life is just as unique. your raymond james financial advisor gets to know you, your dreams, and the way you care for those you love. so you can live your life. that's life well planned.
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liz: fox business alert, facebook social networking its way to the top of our pop stocks and the nasdac's highest flier right now on the day crushing earnings estimates with revenue jumping 48% in q 1 on a boom in ad spending so the stock, nice move here for facebook up 7 %, but ceo mark zuckerberg warning that apple's privacy update, which as you may have heard, makes it harder for third party apps to track and then target consumers with ads, could
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weigh on the second, third and fourth quarter results but the social media pioneer says doubling down on e-commerce should help thwart the damage that could come courtesy of the iphone empire on the flip side ebay investors are in sell mode at this hour, the online auction super star losing its pandemic shine down 9.8% right now, guided below expectations for q 2, and expected slow down in online shopping, yeah we knew that was coming courtesy of increased vaccinations but step competition with amazon and shop ify are playing spoiler to ebay's outlook and investors are slamming the brakes on ford, the auto maker tallying the damage of the global chip shortage plaguing the car industry and that damage is not over, ford says its second quarter production could take a 50% hit due to the crisis that could last well into the year, so ford's lagging down about 8.5 % and i told you that jeff bezos has put out a video, here
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it is. his blue origin rocket startup is launching quite the teaser that has space fans going into orbited, literally. in a video posted on youtube, bezos is seen driving around, right? into the desert and the landing site of his rocket startup, the company announcing it's selling tickets now for rides on its new shepherd rocket soon, promising more details, like price, on may 5. mark your calendars. the coming competition already s tinging, rival billionaire space cowboy richard branson's virgin galactic pulling back by 4.5% to $22.42. because if you're selling tickets, that's it, landing right there, if you're selling tickets that means space tourism , okay? so that is exactly the target point for , as you know, virgin galactic. the new york police department d igodog is in the dog
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house, permanently. the nypd quietly terminated its contract last week with boston dynamics, the maker of that thing, is that freaky or what? the robotic canine officer. the nypd hoped the dog be a futuristic crime stopper if it was unleashed on your neighborhood street, right? but it received harsh backlash from critics who said it was an example of over-aggressive policing. the new york times reports the dog will soon be returned to boston dynamics, by the way, hyundai bought boston dynamics for $1 billion back in december, but hyundai is about flat at the moment but look at that thing. a robotic police dog. let's get to ashley webster live in hollywood, florida at a restaurant whose owner is hoping she has better luck with her robotic helpers. ashley, including a robot peanut ashley: this is peanut, liz. i'm not sure whether you saw the prototype at ces one of the years you were there, but
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peanut welcomes you as you come into the restaurant, and then, a human programmer, will tell peanut where to take me, the customer, so let's give it a go. are you ready? okay. thank you. let's go. okay, very good. very calming music, liz i don't know if you can hear that but off we go, and you can ask, you know, obviously if you want a table or a booth, i asked for a booth, so let's see where we go. >> ♪ ♪ ♪ ashley: now you can see the menu and all of the food is displayed on the front and the question you're asking is well why couldn't someone else do this , because like ever else restaurants can't find anyone to hire. are we here? thank you. i will have a good day, peanut, thank you very much. now, peanut, liz, is one of three robots being used here at mr. q's crab house restaurants and off he goes back to the front of the restaurant, and
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then, we have another robot called beavis. you can nearly guess what the other robot is called beavis and you know who. now, beavis will actually bring the food from the -- liz: no way. ashley: beavis will bring you the food from the kitchen and then here you go and we'll turnaround. hello. very nice, striking blue eyes. thank you very much. okay. now, normally, a human server, liz, would take the food from beavis and put it on to the table here, so just reemphasiz ing, why is this happening? because it's so hard to find anyone to hire to actually work in restaurants, so $30,000, three robots and here is something that's also very interesting, i think, is, i know , thank you, i wish that i could, beavis, bye-bye. liz: get the hell out [laughter] get away from me. ashley: yes, thank you, and exit
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right. liz: [laughter] ashley: you know, the owner of this restaurant has another restaurant and they've contacted the robot company because they still can't hire workers, human workers but guess what the robot company is out of robots so what does that tell you? so the question is what has reaction been? some people like it, some people say, i'm a bit nervous, oh, and then someone right here, a customer, hi, is getting a doggi e bag. you got it, it's very good. where is mr. q, can we see mr. q here, he's so nice, he's the one that put all of this together, he's too shy to talk on camera. again, this is just a sign of the times, this is a sign of the times getting back to the reaction, people are very fascinated and think it's very cool. one person drove two hours just to be taken to a table by a robot. others not so much and they get
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upset saying you can't replace humans and that's really not the point. they are just trying to help those that do show up for work and want to work, help them with their chores, because right now, people here are doing double time because no one, as we talked about, you got a stimulus check, you got employee tended employment benefits, and the incentive is not there right now. by the way, before you say goodbye, no, hello, beavis here, will actually sing happy birthday, so you know people that have birthdays, and can do it, just showing off now, you can do it in three languages, so that should be very, now beavis goes back towards the kitchen. what do you think it's kind of cool, right? liz: bye beavis. at ces, i had seen lg, the korean tech giant come out with one of these things and it was fascinating but it's the way of the future. we shall see. ashley webster, thank you very much, and we didn't get to
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♪♪ liz: today is the busiest day of quarterly earnings reporting for the season, between sunrise and sunset, more than 50 of the s&p 500 companies will have released results. actually, one company reported overnight. nokia let's take a look shares are jumping 10-plus percent in this final hour of trade, after the telecom group surprised investors with better than expected results driven mostly by strong sales of its 5g equipment. now, you may remember ceo had promised when he took over that nokia would do whatever it takes to lead in the 5g space. everybody wants to take over and , you know, push huawei out of the way in china but all the telecoms and smartphone makers feel the same way about 5g. t-mobile, verizon, at&t, apple
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they are all riding the wave higher right now everybody is moving up t-mobile better than 1 1/3% verizon nice gains up 1.5 % but as we still wait to hear from other huge names as we said at the top of the show, amazon, twitter, gilead sciences, western digital this afternoon, which names have impressed our traders the most so far when it comes to picking up some of these shares and putting them in their portfolio, and phil flynn with us this hour, okay, sarg, which name was a shining star this earnings season so much so that you said i need to buy that >> well, we're going to talk about names that are happening right now. this morning you saw mcdonald's hamburgers, excellent comps, domestically excellent comps internationally. northrop was nice, cat caterpillar was nice but they warned about rising cost so i stayed away interest that one and the opportunity is amazon, you just spoke about it on the show with charlie and scott. amazon is big because jeff bezos
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is on the way out. if it looks like he's on the way out without a 7-1 stock split, i'm getting all the equity for about a week, but i'm also getting april 30, tomorrow, bull calls spread 3,470, and about $ 13, that's this one is my big player right now. i'm also buying ford, because ford is getting hammered and i'm buying service now because service now is getting hammered. service now is probably the king , of work flow management. bill mcdermott is probably one of the best ceo's out there. the performance was excellent, the guidance was good but not great. may 10 is their investor day. i think bill mcdermott is setting us up for a big day that day buying the stock and also bull call spread in that name. i can keep talking but let's let phil get in here. liz: well, yeah, i'm shocked you could keep talking. listen, you and phil together, it's like what a cocktail party that be. phil what do you like here, what have you seen that looks really
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strong? >> you know, i like sarg's mcdonald's which was kind of funny but they do better if they offer a 5g burger with a bag of chips. liz: [laughter] semiconductors. >> shortage of chips, right? and you know, when the chips are down apple is still up so you got to love apple, you know, but no problem. i mean, obviously the chip shortage is one of the concerns that we have with a lot of these stocks right now and that's lowering some of the guidance but let's face it. if we didn't have these problems these stocks would probably be a lot higher. i guess the biggest surprise i've seen so far was facebook. you know, i was amazed at how well they did considering they didn't really add, you know, new people to facebook. they are finding ways to squeeze revenue out of it so i thought that was a nice surprise but when i think you look at what's happening with the 5g space, apple is going to be incredible right? we're pulling back a little bit, because of the concerns about the chips, but they are creating their own software now, and so i think apple is just going to be
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incredible when these new phones come out is really a good buy if you get any weakness. >> phil and liz, do you guys see the gross marge ins on apple this morning? the gross margins on the service sector. liz: i'm shocked i just don't get why the stock isn't -- >> do you know what because finally, the earnings are catching up to the valuation. all right? this is actually kind of healthy right now. liz: okay, healthy. all right tell that to shareholders. [laughter] all right, sarg, phil, great to see you. president biden's first 100 days , now in the rear view mirror. kudlow has some thoughts, we're coming right back. that building you're trying to buy, - you should ten-x it. - ten-x it? ten-x is the world's largest online
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shares they are stalling as demand for its key cancer drug keytruda continues to suffer, sales falling as well in merck's vaccine unit, and the drugmaker failing to provide an update as to when it plans to start producing j & j's covid vaccine in a deal engineered by the biden administration. merck shares down 4 and 1/3 percent, johnson & johnson stock is moving higher but covid vaccine rivals pfizer and moderna are both in the red. speaking of president biden, president biden celebrating his 100th day in office with a visit to former president jimmy carter this is fresh video just coming in of president biden. his first lady, of course, jill, and rosalyn carter, later he's headed to duluth, georgia where he will push for american families and infrastructure claims he pitched to the nation last night. let's get to blake burman live from the white house, blake?
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reporter: hi there, liz, president biden as you could see there, is now out on the road as he is starting to pitch his economic vision, of course he was in georgia to visit with the former president jimmy carter but after that, a drive-in rally in that state and then tomorrow, he will be in pennsylvania and monday, out in virginia. the president in the white house now finally unveiling new details about who might be impacted from the american families plan. that of course is the proposal to raise taxes on the wealthy to pay for things like free preschool and community college, cap child care costs for low and middle income families and creating national paid leave program. the white house, for weeks, liz, had been all over the place about who would not have their taxes raised, under this plan. today though, they did give us specific numbers and white house official telling me for individuals that the is those who make under 452, 700, and for families it is those who bring home under $509, 300. those figures are for adjusted income. here in washington, up on
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capitol hill, top leaders started to shape their messaging as well. >> president biden proposed common sense investments and policies that will provide a pathway to success for working people, and for america as a whole. >> empowering all kinds of families with flexibility this one with just subsidize specific paths that democrats deem best. reporter: of course, liz, one of the questions going forward is if the american families plan is somehow able to make it through legislatively up on capitol hill , and over to the president 's desk, when might those taxes start, when might the tax code be altered. the white house telling me today they envision the new tax code taking place in 2022 but a live look in plains, georgia. president biden meeting with the former president jimmy carter. you can set politics aside on this one, liz. it's always cool no matter who
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it is to see former presidents gathered together and share a moment. it is the most certainly one of the most exclusive clubs in all the world. liz? liz: indeed. living presidents, great to see you, thank you very much for that update. perfect timing and there you see , plain, georgia. all right, overstocking its user base, overstock ceo jonathan johnson, no doubt, basking in the glow of his e-commerce titan s blowout first quarter but he's about to join us, live. how he plans to keep the online pandemic pop from going bust, plus we'll ask him what the t-0 backer has to say about the latest crypto rattling headlines, that are coming out of china. >> and i'm spending the weekend with warren, not exactly but i'm watching all the action from the virtual berkshire hathaway annual shareholder meeting and i will be live blogging it all via twitter. do me a favor, follow me@liz
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claman, the action gets started saturday 1:30 p.m. eastern time. i hope you will join me online, he always breaks news. closing bell ringing in seven minutes, we are coming right back. we're looking at records for the s&p, stay tuned. ♪ ♪ it's the biggest thing that ever happened to small. visit your local mercedes-benz dealer for exceptional lease and financing offers. . . like jack.
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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 the world's first fully autonomous vehicle is almost at the finish line what a ride! i invested in invesco qqq a fund that invests in the innovators of the nasdaq-100 like you become an agent of innovation with invesco qqq ♪. liz: three minutes to go before the closing bell. let's take that quick look at amazon set to report earnings in a few moments. up by a quarter of a percent. overstock holding on to solid gains after beating on first quarter profits and revenue. the stock moving higher by 4.% but as the vaccine rollout continues and the world starts to open up, can overstock rest own the first quarter laurels and how is the blockchain business going?
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let's bring in fox business exclusive, overstock ceo, jonathan johnson. what is the plan after these great numbers? >> well the plan is to keep building on them. we see a secular shift in home furnishing purchases going from brick-and-mortar to online. we will take advantage of that. we see macroeconomic conditions which favor us. higher housing starts in march, record levels since june of 2006. great reshuffling of the american workforce as people move around the country, get accustomed to working remotely. all this bodes well for, it is not a question of whether, whether people keep purchasing home furnishings. the question of where. we think it is online and we think overstock. liz: you have done incredibly well. i do have to ask you about t-zero your crypto trading platform. coinbase went public two weeks
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ago. coinbase is now and bitcoin because beijing may be getting involved in some of the crypto mining efforts. where do you stand on t-zero? >> we are bullish on t-zero. i think it will be a unique digital wallet that brings together crypto, nfts, stocks, digital securities. that is really the holy grail. one wallet that does it all. liz: when is it coming out? when can we expect it to take on coinbase? >> it does have a wallet for crypto. it's a lot smaller than coinbase at this point but where it really excels in the digital securities. the security tokens. it is the only registered trading platform that got fcc approval to do that. it's a big deal. liz: well, overstock is a big deal. your stock has done unbelievably well with massive gains over the past year, far outpacing amazon,
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your brethren when it comes to e-commerce or your competitor. please come back. jonathan johnson, ceo of overstoke. [closing bell rings] that will do it for "the claman countdown." that is a record for the s&p 500. once again "kudlow" is next. ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. great to be with you. by now folks you may have heard or seen few moments from president biden's address to congress, if you didn't here is what was outlined. the democratic party made government its god. the congress, their place of worship and the white house their rectory. okay, the key point of biden's speech was when he said this. >> our constitution opens with the word as trite as it sounds, we the people. time to remember that we the people are the government. you and

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