Skip to main content

tv   The Claman Countdown  FOX Business  October 6, 2021 3:00pm-4:00pm EDT

3:00 pm
year end. charles: i forgot to bring my pom-poms. next time pom-poms and a tambourine. you are the man i agree with everything that you are saying, we have strong fundamentals, i will talk to you again real soon meanwhile amazing reversal cheryl casone and for liz claman, the market needs to have questions answered. >> there is several questions that need to be answered including the debt ceiling on the senate floor which we are going to have and that is the breaking news. this could be why the markets are looking a little bit better, they certainly were this morning when we were down 300 plus points on the dow you looking at a live picture at the senate floor in any moment it is scheduled to hold a procedural vote to suspend the debt ceiling it is expected to fail as a republican still remain firm in
3:01 pm
blocking any attempt by democrats to raise it, but the markets are coming up off the floor at the senate minority leader, mitch mcconnell opened the door a crack if you will for a possible compromise. markets turn positive after being in the red most of the day, the dow is still lower by only five points, s&p is higher by three and nasdaq higher by 30 and change, the senate moving after what we saw earlier president joe biden sitting down with the ceos of the nation's biggest banks to warn of the dire consequences of a potential default if the debt ceiling is not raised, were gonna take you to the white house for the up to minute details it's been a very fast-moving chain of events over the last hour. speaking of chain, a fox supply chain, the crisis holding goods and cargo hostage at america port we will talk to the ceo how
3:02 pm
his company is trying to help marine shippers find smooth sailing and there's go daddy taking on square head on how the small business website host is moving into the brick-and-mortar store of its customers with a new point of service hardware. you heard me right. back to the breaking news, this is really just touching go and it is quick changing this is a live picture at capitol hill on the senate floor here's what happened at mcconnell reportedly is offering a short-term raise of the nations that limit this comes as the senate is expected to hold a vote at any minute to break the filibuster on the debt ceiling the vote brought to the floor by the democrats, by chuck schumer, the u.s. government is set to run out of money to pay its bills and faces default in 12 days, october 18 is the
3:03 pm
crucial dates. the senate is going to vote on a bill that was passed by the house to suspend the debt ceiling until december of 2022, that is next year that is a question all of this coming as president biden has a default with the top ceos from j.p. morgan chase, bank of america, citigroup, the nasdaq among other high-profile leaders that were there making the case for lawmakers to take action to address the debt ceiling and avoid an economic catastrophe let's go live to the white house, edward lawrence is following all of the action you need a scorecard to keep up on what is happening. >> even a flowchart everything is moving so quickly within this hour senate minority leader mitch mcconnell will take to the floor and talk about that proposal he has given to democrats. the proposal to suspend or raise the debt ceiling to a certain
3:04 pm
number fox has been told that certain number has been given to democrats we don't know what that number is or they can suspend the debt ceiling but just until november, through november into december which sinks it up to the government running out of money here's the white house president biden had a meeting with corporate ceos and big bank ceos, you can see them they're all talking, the meeting was meant to put pressure on republicans for the businesses in the president blaming republicans. >> we have the votes, democrats are willing to step up and stop this economic catastrophe if senate republicans would get out of the way. but i senate republican friends are planning to block the vote. >> there may be a deal he was backed up by the citibank ceo who says we cannot have a catastrophe of our making. >> everyday is delayed right now
3:05 pm
it comes with an increase in price as we began to see in the markets already starting last friday. america cannot default on the debt because the u.s. treasury market is the bedrock of our financial system domestically and globally. >> republicans say that democrats knew this was coming for at least three or four weeks and instead chose to focus on $3.5 trillion in the social infrastructure package. >> this is an economic crisis of their own making they have the ability to pass the debt ceiling on their own, the sooner that they get to it, the better at the end of the day it will be done and democrats we use the reconciliation bill. >> if they use the reconciliation bill they have to put a number exactly how much they would like to raise the debt ceiling they cannot suspend that without republican help it seems there's an offer on the table from the republican minority leader in the senate to say we can suspend but just through november or we can have a certain number to raise the
3:06 pm
debt ceiling, again fox does not know what that number is we may hear within your our. cheryl: were just being told as you were speaking, it looks like they're going to spend delay, the procedural vote we were expecting during this hour. the senate democratic aides are telling fox business they are postponing the debt limit vote, we are going to assume that that is because of this offer to mitch mcconnell. >> absolutely this could be a signal that they're willing to listen to what he says, is very interesting president joe biden has not had a conversation with mitch mcconnell, mcconnell's office say they have not had a conversation with janet yellen about the debt ceiling the letter went out from mitch mcconnell to the president talking about how democrats need to take care of this. it's a very interesting maneuver but if that vote is put off as
3:07 pm
you said then they are wanting to see how this plays out in terms of being able to come to a deal between republicans and democrats we do not know what that number is, this is the key for the midterms, democrats do not want to put a dollar figure two it because that would be held against them in the midterms. >> the next shoe is where you are standing the white house, please come back, let us know if the white house comes out with any statement or if you get any more information. i'm anxiously waiting to hear what's going on. then he very much there is no i in team at fox business. >> that is right. cheryl: thank you, we did this together, energy prices may be down due to a surprise bill of inventory, two weeks in a row of surprise bills and supply but don't let the dip fool you even though commodities are backing at multiyear highs oil finished
3:08 pm
yesterday at the highest level we have seen in five years we were at $79 and we backed offs . >> this is been coming for a while in the market so a lot of commodities have risen to seven year highs corn, wheat, soybeans in a multiyear high this has been the result of restarting coming off the shutdown in 2020
3:09 pm
we haven't had to deal with this so it's a new experience and if i had one more person tell me that winter is coming i would feel like i'm in an episode of a "game of thrones", yet winter is coming in the care for higher prices is higher prices, the market has reset and we'll see where we are this minute everybody expects the worst but at the end of the day the market has repriced and will see where we are, just as you were talking about natural gas we are already lower on the day, some people might call that key reversal we will see maybe the last person that cannot stand not only natural gas bought it now we can have a correction lower. it's good to take a unfold and all expect more volatility in these markets and this started because of what happened in 2020. cheryl: talk about volatility that's the name of the game for
3:10 pm
participants and on the other side there is energy story that you also have the job story adp it did, better-than-expected, a piece of that was travel and leisure that is good news, the bad news on the other side this leads to friday's job report for september this could mean the fed could taper sooner rather than later. >> we have a lot of crosscurrents, clearly, today's reaction, just a whisper of a compromise over the debt ceiling to remind all of us, this is political theater at its best we've seen the show before i been doing this for 55, 60 years, we have been down this road so many times. this too will get resolved and by today's action of the market it will get resolved in a positive way. cheryl: you are talking about the debt ceiling. >> i am into touch on the energy
3:11 pm
situation, the current administration basically set us up for the world and what were dealing with and that combined with the fact that a lot of the effort to go to alternative energy has shut down a lot of production and quite frankly we have a shortage whether the price of natural gas is up because winter is coming that remains to be seen how bad the winter will be but the reality, were in a world that requires a lot of fossil fuels and if you cutback reduction like the u.s. has done clearly it'll have a negative impact on the price of energy and the jobs report we will have to see what it is on friday but the good news were a week away from third-quarter earnings with the big banks and all indications earnings should be coming in pretty good and
3:12 pm
that should be good for the market. cheryl: that would be nice with the back-and-forth and volatility over the last see three sessions in particular. it's only wednesday, thank you very much we appreciate a lot to absorb premarket politics, energy and all kinds of numbers we have this coming up square helping small businesses sell their products anywhere, anytime can new competition dethrone the kingpin, coming up next what go daddy is doing to compete with the payment all-star go daddy ceo next on "the claman countdown". take a look at the minutes
3:13 pm
worth is watching your employees grow with it. ♪ there are beautiful ideas that remain in the dark.
3:14 pm
♪ ♪
3:15 pm
♪ ♪ ♪ ♪ ♪ ♪ baaam. internet that doesn't miss a beat. that's cute, but my internet streams to my ride. adorable, but does yours block malware? nope. -it crushes it. pshh, mine's so fast, no one can catch me. big whoop! mine gives me a 4k streaming box. -for free! that's because you all have the same internet.
3:16 pm
xfinity xfi. so powerful, it keeps one-upping itself. can your internet do that? cheryl: from web hosting to consumer payment land go daddy is taking on square, striped, shopify and paypal introducing point-of-sale devices such as this. this is the hardware, go daddy
3:17 pm
smart terminal and card reader the web hosting company serves 21 million small business customers, a majority are microsized companies meaning they have 0 - 5 employees, here's the ceo of go daddy, great to have you here i think this is fascinating that go daddy is getting into point-of-sale, yet big competition in the space, are you ready? >> thank you for having me back on the show we are ready and beyond excited our customers have been asking us to extend our services many of our customers do online stores with us, they connected go daddy into the largest platform like amazon to social media like facebook, instagram and half of those customers have physical stores in those customers want one simple screen and they want to
3:18 pm
be able to pick up the phone and call someone when they have a problem in go daddy has 6000 guys around the world, we've been doing this for 20 years and bringing simple technology seamless technology for customers bracketed up with humans and providing it at amazing prices are prices for point-of-sale transaction are lowest in the industry 2.3% flat, in-store transactions and 2.3% less 30 cents, that is more money in the pocket for small business and i think you know every dollar matters for these folks. cheryl: the transaction fees are a tiny bit less, for point-of-sale there is a charge of 2.3%, that is a transaction basically and online is 2.2 percent plus 30 cents, your basically going to have the lowest transaction fee in the industry, for restaurants or shops, small shops. >> yoga studio, these customers
3:19 pm
you called a tiny bit it makes a huge difference to our customers we know from talking to our customers the every dollar matters for every $100 in transaction fees this is going to put 20 more dollars in the pockets of our customers they can spend that money to invest in their business to work with their customers we think that is a huge deal for customers. cheryl: was a decision based on anything to happen with your company during the pandemic or something that you planned all along, i asked because the way that we shop and how we spend our money has definitely changed to online touchless type of transaction which would be. >> i joined the company about two years ago and very quickly we started investor day and we talked about go daddy stepping much deeper and their focus was
3:20 pm
how do we help our customers grow and within that commerce was the largest adjacent opportunity for go daddy this is something customers were asking us for so we set the path to agreeing to customer something completely seamless integrated experience where it could save a lot of time and we can put in place, for base prices. the pandemic only accelerated for us we had to move faster because the pandemic had shifted customer behavior and folks are buying online small business online and we think were right there at the right time. cheryl: real quick i want to ask you your and 100 plus countries a lot of those customers i believe 45% of your web hosting customers are overseas is that where you see the growth or do you think the new venture the point-of-sale that the growth will be here in the u.s., i asked because it is a crowded
3:21 pm
field. >> for the next year we expect majority energy to be in the u.s. and then to other big markets like uk, canada and someone. as you said were over 100 countries, with great positions with our domains and hosting business in many markets like india and the demand is a little bit different but we see commerce as a way for us to provide new services into those countries where we already have customers in the needs in those markets and the customers will increase and will be there ahead of time were super excited about that too. cheryl: i'm so glad you came on to claman countdown to talk about it. i'm so sorry liz was not here. congratulations. >> thank you very much for having me. cheryl: wedbush is at it again naming the top picks of the et sector, tesla taking the crown of the favor of all ed makers but elon musk, watch out he's also picking gm as his favorite
3:22 pm
auto going electric, even before investor day coming up next her plan to take the lead in the et brace. do not miss tonight's episode on fox business prime american gold airing at 8:00 p.m. eastern time followed by the pursuit with john rich at 9:00 p.m. eastern time he is also known as jed, don't miss american dream home by me every tuesday only on the all-new fbn prime. let's take a look at the big board, the dawa 15, nasdaq, s&p higher as well. ♪ yeah, dad! i don't want to deal with this. oh, you brought your luggage to the airport. that's adorable. with shipgo shipping your luggage before you fly
3:23 pm
you'll never have to wait around here again. like ever. that can't be comfortable though. the smart, fast, easy way to travel. you have the best pizza in town and the worst wait times. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. (vo)sit 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,
3:24 pm
your dreams, and the way you care for those you love. so you can live your life. that's life well planned. metastatic breast cancer is relentless, but i'm relentless every day. and having more days is possible with verzenio, proven to help you live significantly longer when taken with fulvestrant. verzenio + fulvestrant is for women with hr+, her2- metastatic breast cancer that has progressed after hormone therapy. diarrhea is common, may be severe, or cause dehydration or infection. at the first sign, call your doctor, start an anti-diarrheal, and drink fluids. before taking verzenio, tell your doctor about any fever, chills, or other signs of infection. verzenio may cause low white blood cell counts, which may cause serious infection that can lead to death. life-threatening lung inflammation can occur. tell your doctor about any new or worsening trouble breathing, cough, or chest pain. serious liver problems can happen. symptoms include fatigue, appetite loss, stomach pain, and bleeding or bruising. blood clots that can lead to death have occurred. tell your doctor if you have pain or swelling in your arms or legs, shortness of breath,
3:25 pm
chest pain and rapid breathing or heart rate, or if you are nursing, pregnant or plan to be. every day matters. and i want more of them. ask your doctor about everyday verzenio. - hello, michael youssef here. you know, we are seeing global pandemic. we're seeing racial strife, nations at war, hatred everywhere. the world seems to be totally out of control, but god still in control of this universe. and he has a plan for human history. nothing happens without his knowledge. jesus said, "when you come to him, he will give you peace, joy, and eternal life." will you come to him..? - [narrator] do you feel alone, isolated, forsaken? are you looking for a peace that can withstand any hardship life can bring? you can find hope and peace today. visit to find answers.
3:26 pm
again, that's cheryl: i wanted to show you a click look at a firm, the stock is jumping right now almost 24% news breaking they will partner
3:27 pm
with target this is a big move for the firm and is obviously a very positive for that stock. we also have this a fox business alert, palantir being all it can be it leads us off, tech firm jumping after an 823 million-dollar army contract for its gothic platform, designed to help support intelligence and decision-making for the defense sector palantir is up almost 2%, nintendo in the game but skills slipping in them losing, the etf guru selling all of its shares of the switch maker in february sat at 1.5% of the innovation fund portfolio disclosures also showing it sold 952,000 shares of the platform, this is not hurting nintendo nintendo is higher by more than
3:28 pm
2% but skills down almost 1.5%, arc at the bottom, the etf is higher by more than half 8%. uber popular british football club manchester united scoring the own goal shares taking after offering price i did have million shares a steep discount after yesterday's close on track for the worst single day decrease since march 2020, manchester united, i have not gotten into soccer lately dunham was 14.5%. goldman sachs clipping american airlines and jet blue wings today goldman putting american airlines and moving to the sidelines on jetblue a neutral rating on jetblue these are fears over rising cost and inflation in the sector overall getting the blame in the fuel crisis by the way. the parish also grounding delta, united and southwest all of these are lower in the final
3:29 pm
hour of trade. breaking news general motors unveiling the newest addition to the ed lineup today with the all electric chevy silverado set to make the goble debut at ces in 2022, gm stepping into the world of the thomas cars with the altar cruise technology which will eventually allow hands-free driving on every u.s. paved road in the near future gm is down but all these announcements it is still a pretty big deal for gm, this is gm's highly anticipated investor day. grady trimble joins us with that event in michigan with all the latest updates. >> gm's ceo mary boris says it will be able to double its revenue by 2030 thanks in large part to the investment in electric vehicles like the silverado you mentioned in the all electric, 30 different models of electric vehicles
3:30 pm
coming by 2025, gm plans to go fully electric by 2035. there also focusing on their electric delivery vehicle company right drop a couple of examples here is the ev 600 that went into production a week or two ago. also the autonomous driving company gm owns which is called cruise. the goal is all electric by 2035 i had a chance to chat with gm ceo and i asked her whether consumers are sold on electric just yet, here's what she had to say. >> we have done tremendous research with the customer and they tell us if the vehicle is beautiful, if it meets the functionality they don't want tobias of dan if they need it crossover or a truck and there's the right range over 300 miles and a robust charging infrastructure they are in on
3:31 pm
electric vehicles. that's why we will make sure we have a complete portfolio, affordable cds that people will want to buy. >> that of course is looking to the future. right now one of the challenges general motors and all the automakers are facing is the chip shortage, that hurt third-quarter sales of new vehicles for general motors down about 33% year-over-year, i had a chance to catch up with gm president mark royce, he says that is stabilizing, it's starting to improve in the fourth quarter and they expect inventory at dealerships to improve anymore in 2022. >> number won this is probably, this and the pandemic will change the way people by and our dealers are very agile and very aware of that. we are selling things that they can see into the pipeline when the car is built at the plant and they can sell what that vehicle is even before it hits their lot.
3:32 pm
>> even though we are in detroit they are impacted by this infrastructure talks, all the way in washington, d.c. i asked mary barat about that and she said she supports the package that includes $7.5 billion for more charging stations all across the country, she would also like to see ned tax credit for people who purchase electric vehicles going forward. cheryl: grady trimble, we appreciate that light report in those interviews. america's ports facing the biggest crisis with a record number of ships stuck off the shores, coming up the company in the thick of the action breaking to the bottlenecks the flex port ceo is here next, take a look at our market what a turnaround up by 41 on the dow the news out of d.c. getting the list of stocks s&p update, nasdaq of 35.
3:33 pm
we'll be right back.
3:34 pm
3:35 pm
that building you're trying to buy, you should ten-x it. ten-x is the world's largest online commercial real estate exchange. and it's fast. if i could, i'd ten-x everything. like our lunch. (laughs) amazing! see it. want it. ten-x it. i just became eligible for medicare, and i'm already confused. a, b, c, d - who can keep it straight? and how do i know which plan is right for me? i just called humana; i talked one-on-one with an agent who really listened. she made it easier to understand. you should call too! so i did. the agent got to know me and suggested a plan to fit my life. turns out an all-in-one humana medicare advantage plan includes coverage for hospital stays, doctor visits and prescription drugs. really? most plans include dental, vision and hearing too. my agent told me i could save money on prescription drugs. and
3:36 pm
most plans offer an allowance for certain over the counter items: vitamins, pain relievers - which could save me even more. oh! it's not just health care, humana offers free online classes at the humana virtual neighborhood center. oh! i learned some great tips for better sleep. and these humana plans offer telehealth coverage. so i can connect with a doctor from my couch. turns out i can get all this coverage, including prescription drugs, and humana has a large network of doctors and hospitals. my doctor was already in their network. oh! and i stay covered in emergencies, even when i travel to see my grandkids. oh. and the best part is a humana medicare advantage plan can give me all that coverage for as low as a $0 monthly plan premium. can you believe it? really? i'm so glad i called humana, they found the right plan for me. humana really makes medicare worth talking about. now it's your turn. call
3:37 pm
the number on your screen and talk to a licensed humana sales agent about how you could benefit from a humana medicare advantage plan. we'll take the time to get to know you and give you all your options. and you'll get a free medicare decision guide just for calling. there's no obligation, call today. humana, a more human way to healthcare. shingles? camera man: yeah, 1 out of 3 people get shingles in their lifetime. well that leaves 2 out of 3 people who don't. i don't know anybody who's had it. your uncle had shingles. you mean that nasty red rash? and donna next door had it for weeks. yeah, but there's nothing you can do about it. camera man: actually, shingles can be prevented. shingles can be whaaaat? camera man: prevented. you can get vaccinated. baby, call the doctor. camera man: hey! you can also get it from your pharmacist! 50 years or older? get vaccinated for shingles now.
3:38 pm
cheryl: the port of los angeles executive director jean announcing how ports should tackle supply chain bottlenecks, he is saying that ports need to take advantage of the capacity they have in front of them before bumping up to 24/7 schedule which would add additional cost for shipping hubs, right now 113 ships are waiting to dock in the united states and canada with over half idling outside of the ports of long beach and los angeles. companies across the u.s. are feeling the ripple effects of million shipping containers stranded as see helping to
3:39 pm
navigate this is flex port founder and ceo ryan petterson who joined us on fox business interview, correct me if i'm wrong you help companies get more things into these containers with your technology, the bigger problem you can't get the containers offloaded at the port, what do you see right now. >> it really is a mess as you described over 50 ships waiting offshore at the port of long beach, the way to think about this we had so much volume of containers coming into the country as consumers shift in spending for buying goods instead of going to restaurants and bars and traveling the surge of capacity and volumes we haven't been able to handle it the ports are overloaded there's traffic gm's of trucks trying to get into the port and the backlog where the ships are offshore has led to a spike in containers to almost five times normal levels of pre-pandemic pricing. it is a real mess and i think christmas is at risk for all the
3:40 pm
american companies trying to get merchandise with it sitting offshore and they need to get it stocked on the shelves. cheryl: i had a port official on fox business and he said one of the biggest problems he is seen as truck drivers. they cannot get truck drivers to actually get the cargo ship and to move everything out of the port. he made an emphasis to blame the truck drivers does not ring correct with you to be honest. >> i think it's hard to assign blame to anyone place is a systemic problem were looking at a market failure for example when there's so much volume coming in the trucks are trying to come to the port and you get a traffic jam we've all been in those if you add more trucks it doesn't solve the problem and what you're finding, where truck drivers used to be able to take two containers per day, drop one off and get another one, there
3:41 pm
now only able to do one because they spent so much time in traffic and truck drivers are getting less money and some are opting out there may be better ways to make a living than sitting in traffic. cheryl: he said they're going to fedex, ups and other places where there is more money, i guess that's the pandemic story. i want to ask you about these numbers, before a container the typical price from what i was reading was $3200, now it is $20000. >> is that true customer. >> yes if you don't have a long-term contract, many of the long-term contracts are not being honored is really hard to get space on the ship if it's full they might be oversold and might not be able to ship on the old rates they're paying whatever price they can to get loaded. cheryl: what about airplanes and cargo aircraft. >> remember at 50% of the world
3:42 pm
freight flies and passenger planes and many of those are not flying to asia there's not a lot of flights going to and from china right now that's not really going to be a solution either. cheryl: that is fascinating how do you help these companies save money, i'm sure there knocking on your door right now. >> we are over selling there is a number that always helps technology companies, we give you to help you understand when the shipment will arrive and use machine learning to predict transit times in a better understanding of where your inventory is in when you can count on it being in stock. we look inside the containers we are seeing on averages only 70% full so we help companies better plan and make sure the filling them to the brim if you can get more containers on the ship, get more stuff in the container that definitely save you money to make sure you get the inventory in the stock. and we have a mobile app that we use for our truckers, this is helping our truckers go to the
3:43 pm
port and be much more efficient because they can pick up any container assigned to them instead of just the one were able to do much more efficient loading at the port for truck drivers we have almost 40% of the trucks that deport trucking in the united states using our technology. cheryl: this all comes back to technology. thank you very much, we appreciate it. a hollywood ending for afc and crypto. the big move why the theater chain is feeling a new leg and the trip to run, the dow is still higher up 18 points we'll be right back. ♪
3:44 pm
you're driving innovation.
3:45 pm
you're racing to the cloud. you need to do it securely. that's why palo alto networks developed prisma cloud - an integrated platform that secures your cloud environment end to end. used by the world's largest organizations, prisma cloud provides the cyber security you need from code to cloud. so you can get cloud security right, the first time around. we've got next. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage. it's moving day. and while her friends are doing the heavy lifting, jess is busy moving her xfinity internet and tv services.
3:46 pm
it only takes about a minute. wait, a minute? but what have you been doing for the last two hours? ...delegating? oh, good one. move your xfinity services without breaking a sweat. xfinity makes moving easy. go online to transfer your services in about a minute. get started today. first psoriasis, then psoriatic arthritis. it was really holding me back.
3:47 pm
standing up... ...even walking was tough. my joints hurt. i was afraid things were going to get worse. i was always hiding, and that's just not me. not being there for my family, that hurt. woooo! i had to do something. i started cosentyx®. i'm feeling good. watch me. cosentyx helps people with psoriatic arthritis move, look, and feel better. it targets more than just joint pain and treats the multiple symptoms like joint swelling and tenderness, back pain, helps clear skin and helps stop further joint damage. don't use if you're allergic to cosentyx. before starting, get checked for tuberculosis. an increased risk of infections—some serious —and the lowered ability to fight them may occur. tell your doctor about an infection or symptoms or if you've had a vaccine or plan to. tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx.
3:48 pm
cheryl: talk about big-screen ambition into weeks amc ceo adam adamaron making the crypto dreas come true accepting dojo quite, a theory on, litecoin and bitcoin cash with bit pay, this coming after adam aron surveyed customers and asked them if it should be accepted with online payments and 68% responding saying yeah, take a look at amc stock is down 1% but take a look at crypto extending the rally bitcoin just hit 55000 on your screen as you can see a theory on higher by 2.5%, a digital token spiked overnight on the news but dogecoin down 2% or so. besides raising the debt limit and getting a spending package pushed through, president biden
3:49 pm
teams to be having a tough time getting his pics approved by congress charlie gasparino is here with start with the federal housing finance. >> it is a combination with logjam with a 50/50 senate and also dividing him administration that delayed fhfa federal housing finance agency is a huge position for the economy, this is the person this is has a policy whether expansive meaning you can use the fannie and freddie. >> to expand housing to people in lower income categories as biden wants to do or do you prioritize that's why it's a huge story for shareholders, there is a lot of trading of the stock, if we show a longer-term chart gse frannie and freddie are trading below a dollar and they have for a while that's very interesting why is that my view that is pricing and the
3:50 pm
market has found something that we did not know and it'll be coming out now at the head of the agency is unlikely to be a guy named mike who is running a nonprofit and a consumer advocate he's considered somebody who wanted to prioritize fannie and freddie and taken out of government control that would be good for the shareholders. progressive move-in and said no he's not getting the job and it looks like sandra thompson who is the acting fat who some the progressives like like maxine waters will remain through the midterms, that is not her that's the woman that could be the occ. cheryl: another appointment. >> that the office control of currency. the occ job is interesting in itself because that one is
3:51 pm
likely to get a ton of backlash from republicans if you have all the logjam including occ g went to the university of moscow for an undergrad in economics if you think about what that means. >> it's funny but it's not you have her inattentive judges schumer and you need four times to get them there because it's a 50/50 senate and stopping their forces, the theory is given the progressive backlash to calhoun and the theories that you keep thompson in that job, that is not good for shareholders and that's what you see the shares of fannie and freddie trading below a dollar. cheryl: there knocking to prioritize fannie and freddie. >> we should point out this the trap of initiation was making moves to that, steven mnuchin decided not to do that, there is a court battle which allowed biden to pick the head of the f hfa, is a presidential appointee
3:52 pm
so he takes out who wanted to prioritize, the theory was that mr. calhoun with the limited privatization making it utilities but getting them out of government control, with him out of the way or looking like he's not going to get the job in sandra thompson, that is why the shares are trading off. what's going to happen is status quo and i could tell you one thing amc shareholders are nuts they go crazy on twitter, the crypto people go nuts they go crazy, fannie and freddie traders are crazy to its known as fannie gate. cheryl: thank you very much, a huge story and thank you for bringing that to the show. facebook mark zuckerberg responding to what frances haugen slams what the social network ceo had to say and what
3:53 pm
that means for the stock taking a look at the big board the dow is up 69 points. we'll be right back. ♪ i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors . .
3:54 pm
centrum multigummies aren't just great tasting... they're power-packed vitamins... that help unleash your energy. loaded with b vitamins... ...and other key essential nutrients...'s a tasty way to conquer your day. try centrum multi gummies. now with a new look.
3:55 pm
at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. you founded your kayak company because you love the ocean- not spreadsheets. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit
3:56 pm
♪. cheryl: closing bell going to ring in exactly four minutes from now. markets near session highs. the dow session high at this point, 99 points. we're right on top of that, 92 and change. s&p up 16. nasdaq up 60 and change. obviously markets have made a major, major turnaround this wednesday. facebook ceo mark zuckerberg hitting back yesterday at the facebook whistle-blower's testimony on capitol hill. here is what he said. many of the claims don't make any sense. at the heart of these accusations is this idea that we prioritize profit over safety and well-being. that is just not true. well our "countdown" closer thinks exactly that. that facebook is just trying to
3:57 pm
keep investors happy. jordan kimmel. equity strategist and portfolio manager. of course, mark zuckerberg wants to keep, jordan, his business a business and a profitable one. >> no question, cheryl. it is great to with you again and certainly he wants that. it's a highly profitable company. the thing i note really saying a lot of these esg funds own the facebook, i question the validity of owning it in a esg fund. cheryl: that makes sense, certainly i can understand your concern. obviously the overall tech story has been volatile as well. we've been watching the tech sector rise and fall like an ocean wave. at this point tech has recovered today. what do you make of the sector overall? >> cheryl, let me say, sometimes we talk about value and growth.
3:58 pm
we talk about opening and closing. i think you have to look a lot deeper there. with magnet i use as you know lots of factors and lots of data. i think you need to look a little bit deeper. you need to look at not only the overowned feigning -- "faang" stocks. there are a lot of tech stocks i really like. i think a few of them are so overowned at this point. cheryl: you like microsoft. that is one of your picks. you also like broadcom, digital turbine, that's a name. >> exactly, exactly. so it would be foolish to say tech is not important. tech is critical and what you highlighted are two of actually least expensive, highest profit margins money in the entire industry. so tech is great. tech is important but you know, cheryl, for a lot of years now too many or i should say too many people own too few
3:59 pm
companies and you don't make a lot of money investing in the favorite stock of the day. cheryl: i saw ebay up there. you're giving love to ebay. charles schwab, there is an interesting pick for you. a lot of people walked away from schwab when they went down to zero trading fees. this is definitely a mix of names. >> you know what it is? they have one thing in common, or several things in common. it is called a magnet score, combination of growth at a discount, revenue growth, margin growth, cheryl they're going up in price. they have institutional support. an excuse for a company is not doing well is not what i like to do. i love great companies and strong balance sheets. cheryl: i love it. jordan kimmel a great way to end the show today especially on a high note. >> great to be with you, cheryl. cheryl: jordan kimmel a lot happened in the last hour. we're hitting session highs as
4:00 pm
we're going into the closing bell. 109, 108 higher. a lot of this was news out of d.c. obviously energy prices have come back off. we'll see what the jobs report does on friday, folks. [closing bell rings] cheryl: that is it for me today. the dow up 115. "the claman countdown" is over. "kudlow" is next. ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so president biden out in michigan yesterday basically argued that opposing his reckless spending, big government socialist plan will lead to america decline. of course he has frequently argued in the past that he has tremendous support for his program. even arguing that republicans outside of congress are big supporters of his plan. remember all of that? he used to say that all the time


1 Favorite

info Stream Only

Uploaded by TV Archive on