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tv   The Claman Countdown  FOX Business  October 14, 2021 3:00pm-4:00pm EDT

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robotics as well. there's real opportunity there, amazon as well. something like irobot, something liker -- like that could be interesting. charles: folks, drop off but don't get out of this bad boy because, as you can see in the screen, there's money always to be made the you're just patient and pick the right stocks. a nice rally as we head into the final hour of trading, liz claman's got you covered. liz: possible it. look at the dow, charles, a gain of 546 at one point, we're at 533. investors are betting on the banks in a big way, major financials powering the markets higher with eyebrow-raising profits and non-bank united health group, no slouch when it comes to helping the dow break its four-day losing streak in style. we're up 529 for the dow, but the nasdaq is the rock star of the session. look at this gain of about 1.7. that's a jump of 251 points, s&p
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up nearly 1.7%. our floor show traders are here with what they see as the latest quarterly reports undertow, right? what do they see between the lines for the markets going forward? after last weekend's disastrous flight cancellations at southwest airlines, are travelers headed for a new weekend of headaches? and it's the major carriers who didn't have the same problems, did they look at the 2,000-plus canceled flights from a distance, or are they taking proactive steps to make sure they don't face the same nightmare? ed bastion is here to react to rising oil prices and in light of the supply chain crisis, we'll ask him about delta's suddenly sizzling cargo flight business. how's the restaurant business doing after the pandemic or at least at the tail end, we hope? if you're jersey mike's, that would be fabulous. the chain has a dizzying plan to roll out more than just
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fresh-cut deli subs. the founder and is ceo is here to tell us how he plans to open hundreds of new stores, it's a fox business exclusive. and have you seen coinbase in the last hour? showing some serious clicks two weeks after charlie gasparino reported they were going to sail over the sec's head and go directly to congress to suggest how and who should regulate cryptocurrency. coin shares are spiking on reports that they've done exactly that. shares up more than 5% right now. charlie's working the phones on how annoyed the sec might be and how it might respond. but first, let us begin with breaking news. take a look at moderna shares, moving higher by about 22.25 -- 2.25 points after a fan of fda concern panel of fda advisers is meeting right now, very close on whether to recommend moderna's booster shot. the announcement could come within the hour. the fda typically, by the way, follows the add vice of the
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experts on this panel who recently, approved the third shot of pfizer/biontech for older folks. in the meantime, pfizer and biontech are both moving higher partly because the panel is using israel's data that showed the pfizer booster was very effective as part of the decision on moderna. and then in the last hour, president biden says that the expected u.s. regulators to decide whether to authorize the pfizer vaccine for kids in the next few weeks. all right. as we await the fda panel's decision on the future of the moderna booster, covid safety protocols are one of the many things travelers have to consider ahead of what is expected to be a wildly busy holiday season. southwest's flood of flight cancellations just this last weekend spiking jet fuel prices, ongoing worker shortages and travel restriction changes have the airlines playing defense on a day-to-day basis. let's look at delta shares. they are moving higher right now
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or at least last check, they're in the green by half a percent. they had dipped yesterday despite swinging back to profitability in the third quarter because the carrier warned that rising fuel costs could push them back to a loss in the current quarter. but investors and travelers are way her concerned perhaps about the immediate future, as in this weekend. could southwest's issues spread, and what are the majors doing to dodge that possibility? let's find out from delta airlines' ceo ed bastion, joining us live. thank you so much for being here, ed. we're 48 hours from the weekend, so we're talking about the next couple of days. delta did not experience anything close to what southwest did, but surely from an operations perspective, it had to have caught your attention. what's your assessment from where you sit outside of southwest, obviously, but as to what happened there? >> first of all, great to be with you, liz. thanks for having me. we fly the same air space, based here in atlanta, so we have a
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large presence in florida. i think a lot of it has to do with making sure that we're very disciplined as to how we're approaching the recovery. the recovery's been very choppy over the last year, and you want to make sure you don't put more supply into the marketplace and make commitments and sell it to your customers than you can go fill. and delta's done a great job all year long with making certain that we're managing supply and demand in equilibrium. so in florida on friday, like the entire weekend, we had 20 cancellations and no cancellations after friday night. so we're running a great airline. our people are doing a great job. can't comment on southwest, i don't know exactly what's going on there, but i can tell you customers can absolutely book with confidence on delta. liz: close to 2,000 over the weekend concern obviously, you guys did not have that similar thing. but as you look at it from the standpoint of a ceo running a major airline, i'm guessing you
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scrutinized it, and did you take any proactive measures or make any slight changes or add on to what you've already done to make sure that you guys don't get sucked into what at least some of the employees have complained about which was a brittle operation strategy. >> again, we've, we're all operating in the same air space in our country throughout the summer. it's been a difficult operating environment, no question about it, as everyone's come back. it seemed like they came back overnight to travel, which we love, this summer. but it's being very disciplined. making certain we're not trying to outgrow our ability to have pilots and crews in the right place. one thing at delta that we measure is what we call our brand as and when we have completely -- brand days meaning we don't have a single cancellation amongst the 4,000 flights that we fly a day. this year to date we've had 116 of those days, perfect days across our system, which is
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right on par with where we were in 2019 pre-pandemic. i can't give enough thanks to the delta team, providing a great product for our customers, and it's one of the reasons we were profitable this quarter. liz: well, the delta team has to be growing ahead of what is expected to be a very busy hold day season. -- holiday season. i know you said on your conference call that delta's hired 8,000 workers this year, but you haven't had to increase the level of entry pay. how is that possible? i find that incredible because fedex says that its wages are double what they were last year. and we know that american airlines, who's expected to hire thousands and some of the other airlines are boost up all kinds of employees. won't there be competition, and won't you then have to raise wages? >> we pay a great wage. we haven't had to increase the wage, and delta is a great hiring company, it's a great brand. people want to work for us. recently we announced that we're going to be hiring 3,000 flight attendants. we had 35,000 applications
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within a week, and we had to shut down the application portal because there was just so much demand for those opportunities. people want to come here to work. i'm proud of that. they see delta as a great company, a great place to work with great benefit ifs including travel, and we're going to continue to keep that brand strong. liz: we're showing your live hiring web site. ramp agents and h.r., all kinds of possibilities, not just pilots. are you confident, let me just ask this, that you will have enough pilots during the thanksgiving weekend and ask then beyond that to christmas and new year's? >> absolutely confident. we've been planning for the upcoming holiday period all year long are. this is not something that we move month to month. so we knew what level we wanted to put in the marketplace, we made sure we've got our pilots in the right categories, the right training in position, we've got people on the phones, we've got over 4,000 people we've added in to our airport
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staff, and we're absolutely ready. we can't wait to welcome people back to the skies. liz: i'd be remiss if i didn't congratulate you to swinging back to profitability in the third quarter. amazing. you did warn about higher jet fuel costs. that's no surprise to anybody who's been watching spiking crude oil and, of course, the integrated oil areas too. but, you know, what are you doing to mitigate that? and i'm thinking because you guys made, i believe, two weeks ago an announcement on basically about a billion, i believe, in investing in biofuels or sustainable fuels? i want to bring you back to 2008, so this was a while ago. i had an opportunity to talk to sir richard branson because he had just completed a flight using coconut oil among other sustainable oils on a flight over europe, and he said this, and then i'd love to have you react to what he said. >> what we wanted to do was
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prove that a clean fuel could be used. this is not going to be the ultimate fuel because there's just not going to be enough coconuts in the world to power all the planes in the world. but what we're doing is developing something, and i think that there will be, you know, we can develop enough to power all planes in the future on clean fuel. liz: so tell me about your sustainable future, because it's just business, i would imagine, as we saw jet fuel prices spiking considerably just since august. >> well, we are investing, as you mentioned -- and, by the way, working very closely with richard, he's a good friend. we're joint owners of virgin atlantic together -- biofuels made from all various sources and resources. we've got a commitment to have 10% of our total tulle supply by the end of this -- fuel supply by the end of this decade in
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sustainable aviation fuels. we announced, you're right, some very large commitments, 250 million-gallon offtake provision with one provider to make sure we're on the path to get there. there's a long way to go. we need the government's involvement and commitment because right now sustainable aviation fuels are coming in at a cost somewhere between three to four times higher than what we're paying for today's jet fuel which, as you mentioned, is already high to begin with. so we need the incentive, the commercial incentive for the energy companies to be able to produce the fuel and for the airlines to be able to afford the fuel. liz: the hottest discussion right now in d.c. is the supply chain crunch. you guys have actually had a really interesting growth trajectory for your cargo business. can you talk a little bit about that, and have you started to see more movement there, more demand, and will you eventually have pricing power to raise your prices? >> well, our cargo business is,
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again, another reason why we were able to swing back to profitability in the current quarter. if our revenues are up close to 50% over where they were in the 2019 levels because air freight has become a more affordable source for shipping product. and, of course, pricing has also gone up. revenues are up considerably. we're not flying. only about half of our international supply right now because markets are still closed. but we're making flights to australia and other places around the world based solely on cargo. it's a real opportunity. the team pivoted well when we saw this problem pop up over a year ago. i want to see the bottlenecks relieve because it's best for everyone that we get the logistics flowing more smoothly. but in the meantime, we're doing our share and trying to bring more and more product to the u.s. market. liz: well, your leadership, it
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has been really flexible, and i think that has made the difference when with it comes to exactly that, you've been able to pivot. but that leads me, when you talk about what makes things better for the world, you are the last u.s. carrier holding out on the vaccine mandate for your employees. tell me why. >> well, the reason the mandate was put in by the president, i believe, was because they wanted to make sure companies had a plan to get their employees vaccinated. a month before the president came out with the mandate we'd already announced our plan to get all of our people vaccinated. and the good news, liz, the plan is working. at delta today we are 90% vaccinated, fully vaccinated across our entire company, and more and more vaccinations are coming in by the day. i expect by the time we get to november, next month, we're going to be at the 95% threshold. and when you consider it's going to be religious and some medical accommodations made that we're
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going to need to consider, by the time we're done, we'll be pretty close to fully vaccinated as a company without going through all the divisiveness of a mandate. we're proving that you can work collaboratively with your people, trusting your people to make the right decisions, respecting their decisions and not, you know, forcing them over the loss of their jobs. liz. -- liz: ed, thank you very much, we'd love to have you back next quarter. >> of course. great to be with you, liz. liz: anytime. ed bastion, ceo of dell that airlines. big banks, we talked about this, reporting blockbuster earnings. there's one major difference between yesterday and today and how investors are reacting. yesterday they sold off, today they love 'em. up next, our floor show traders on what they're reading between the latest earnings lines about the entire u.s. economy. closing bell ringing 45 minutes away. "the claman countdown" is coming
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right back. the dow gaining 510 points. ♪ ♪ (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.) just think, he'll be driving for real soon. every new chevy equinox comes standard with chevy safety assist, including automatic emergency braking. find new peace of mind. find new roads. chevrolet.
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♪ liz: okay. just a second ago moderna gains doubled. they're still up about 3.8%. the panel of expert advise tokers to the u.s. food and drug administration has just voted to recommend booster shots of moderna's covid-19 vaccine for americans 65 and older but also those at high risk of severe illness. all 19 of the advisory panel members voted yes on this, so you can see moderna shares spiking to the far right of the screen there on that intraday at the bottom, up $12.36 to $333.50. i'm watching pfizer too, up under just a percent, biontech up under half a percent. they've already been approved for the booster shots. investors' risk appetites hungry as big banks cook up a storm of strong earnings. citigroup, bank of america and morgan stanley all on your screen, all beat expectations with morgan quite the standout in its investment banking division thanks to a record $1.27 billion in revenue.
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but you can see wells could be at the bottom, it's lower by 2%. wells also handily beat on both the top and bottom line, but shares are falling in part because it has more exposure to lending and, of course, interest rates are still paltry but also because of that 59% jump in q3 profits lifted by the release of long lost reserves, you know, the pile of cash it had put aside in anticipation of mass loan defaults which did not come to pass. but even as the big financials do well, the fin-tech names are doing just as well if not better. paypal is jumping $2 or 1.a 5% -- 1.5%. affirm is eyeing a record high right now, sofi seeking a bernanke starter and square, which just a-- with the financial landscape really littered with choices, do you go with the newbies or the old stalwarts? let's go to sarge guilfoyle and
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phil flynn. sarge, what do you say? >> all right. i like 'em all, and i don't like some of them. i mean, i'm long bank of america. they had a quality beat, asset management, investment banking, equity trading, all good. i'm long wells fargo, but i didn't expect anything too great if from them. they're really dependent on the yield curve. they still have an asset cap imposed on them by the fed. that's the reason why you don't want to sell wells fargo, stay long the name. i love sofi. i think sofi is really the future of traditional banking, but they also offer a suite of trading including cryptos, and they're getting in on the student loan space. as far as short-term trading, i'm long goldman sachs going into tomorrow, expecting great things from their trading team, and i'm actually short affirm, you just mentioned them -- liz: why are you short affirm? >> i believe they went a little too high. technically, they completed a cup formation this morning. it goes back seven or eight
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months to almost their beginning, and i would expect that maybe at this time they've formed a little bit of a handle, but that means it'll come in less than it went up, but a little bit before -- liz: yeah, interesting. they have to close above $150.17. their high today has been $153 and change, they're at 148 right now. let me broaden this discussion here, phil, to the energy picture because if financials have done really well and people might want to do some profit taking, so have the energy names. we just heard from ed bastion of delta that, i mean, it's just business to try to look for alternatives because their jet fuel prices have skyrocketed in a crazy way. >> you are absolutely right. and, you know, he mentioned things like algae. that's been a long-term investment that's going to probably come to fruition especially with the way diesel prices are going right now -- liz: and, you know, let me just jump in, the u.s. navy has tested algae on their ships.
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i know this. so -- >> yeah. i have invested in a start-up, gbs energy, that it was out of the university of illinois, and they had like a refinery where they could take just about any kind of waste material and turn it into fuel. you know, turn it into algae. and algae, believe it or not, has a lot of uses. it's not only for fuel, but in china you can sell algae like crazy because they put it on their face, you know? [laughter] it's a great skin revitallizer. so there's a lot of issues -- listen, make no mistake about it, you know, right now what's happening in the energy space is a crisis, and these companies are looking for alternatives. and they're looking for help. i mean, even the biden administration finally admitted, you know, hey, with these prices going further, maybe we should talk to the energy guys, see what they think. see if they can do something about it. what took you so long, you know?
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[laughter] i mean, come on. we have the best energy industry in the entire universe, and you go to opec asking for more money. now you've got a crisis, and you've had this adversarial relationship. listen, if you want to get green, that's great, but work with our guys, not against them, and you'll get to your goals a lot quicker. liz: guys, thank you so much. we've got an incredibly busy, massive rally. phil, sarge, see you next time. we've got much more ahead. wait until you see what microsoft's doing and why. ♪ ♪ 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 who are passionately dedicated to helping people achieve their financial goals. visit
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i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now. high thryv! thryv? yep. i'm the all-in-one management software built for small business. high thryv! ow. get a free demo at liz: fox business alert, microsoft popping, bringing its market cap to now more than $2.25 trillion even as china's censorship of the internet has found its latest victim in microsoft-owned link ared inn. nearly -- linkedin. microsoft is shutting down the job search site in china. instead, what it's going to do is launch a new site that does
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not have social media features. microsoft says it pulled the plug because of greater compliance requirements in china, so the new one is going to be called injobs. linkedin was the last major u.s. social network that was still operating in the country. because china doesn't want you to be social or network. okay. so microsoft popping about 2. separately, china tech stocks are some of the biggest haggards on the nasdaq. -- laggards. baidu moving lower, but sitting at the top are health care firms walgreens alliance and united health group. walgreens posted fourth quarter revenue and adjusted profits above analyst estimates, seeing growth as much as 13% if. unitedhealth has just been a killer, also raised its full-year outlook for 2021 and said it expects a smaller impact from covid-19 costs next year
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but walgreens boost really spiking, up 7.5%. beyond meat getting some lift after mcdonald's said it would be testing the mcplant burger in eight locations next month. the fast food giant has already started selling the sandwich internationally and represents an opportunity for the faux meat maker to access mcdonald's global footprint. mickey d's up 14%, adding another three-quarters of a percent on the session, and beyond meat up 2.25, but it's still down about 14% year to date. from burgers to subs, san witch shop jersey mike's has an unbelievably ambitious plan to expand from wherever it is right now, way beyond the jersey shore, to the location near you. founder and ceo peter can crow is here live with the details on how jersey mike's is going to add not 100, not 200, not 3 --
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you have to guess. hundreds of new stores. it's a fox business exclusive. folks, we're at the bottom of the hour, 29 minutes left to trade. the dow's still up 504 points. the nasdaq charging higher by 241. we are coming right back. ♪ ♪ ♪ >> my name is judge jeanine pirro, and i've been with fox news since 2006. 25 years ago i was invited to one of the first parties that fox news had, and i was a sitting d.a. at the time and, you know, here was this fledgling news channel. and, you know, it was competing with the big guys, and yet there was something about it that was different. television is very verbal media! >> and we always knew that it would succeed, but it has succeeded beyond our imagination. you can't force people to watch a news channel. they do it because they feel
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♪ ♪ ♪ ♪ ♪ liz: qsr, this is the industry magazine for quick service restaurants, has just ranked the fastest i growing quick service chains in america. here are the top two, starbucks and domino's pizza. .com though's slightly lower, star bucks moving up 1%, but just behind them rising to third place is jersey mike's subs. the east coast sub chain -- they're all over now -- was begun on the jersey shore in point pleasant, new jersey, and it was bought, the single restaurant, by a 17-year-old kid who's now the ceo.
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yeah, that 17-year-old kid got a loan from his football coach, and now they have 2,000 units and counting and plans to open 500 more locations in just the next go years. let's bring in jersey mike's ceo peter cancro, in a fox business exclusive. congratulations, peter. this is such a great story. >> well, thank you. so you readers, the headlines, and it must be true, you know? [laughter] we just really keep pushing internally and really growing from within, and that's how the growth, everybody concerned about quick growth? well, no. last year 210 openings, this year 250. we feel next year 300. and so the next 24 months about 600 stores are going to be opening. we see hitting 3,000 stores within the next three years. liz: let me back up just a bit. the massive number that you opened last year just as many
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restaurants were closing. i remember it must have been the night of the new york lockdown, i ran to jersey mike's -- [laughter] in fort lee, new jersey, because i can't cook, and i got my kids the jersey mike's subs. but there was a line, and it was late too. in fact, they stayed beyond their hours. so what was different about what you guys were able to do compared to so many other restaurants? >> well, since the beginning we were mostly takeout. so when the pandemic hit, everybody had to close, we were one of the essential businesses that were allowed to stay open. and all the people would pick it up at the door, such cied pick-up -- curbside and pick up orders off of the app. so we were able to stay open, and because we were one of the few open, our sales, individual unit sales the past two years from january 2020 to date were up over 40% in the sales. we're individual owners, which is just incredible.
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we can't believe it, but that's what happened. mike: your offerings are quite wide, and a lot of people look at jersey mike's and what we have noticed is -- and i'm not here to diss anybody, but subway, subway has been embattled for quite some time over a whole bunch of other issues. we've got some of your products on the set here, and as we look at the sandwiches, i'm struck by what i see now as a bunch of different supply chains whether it's the meat or the wheat or the bread or the packaging. tell me how your situation is with the supply chain, because with so many stores around the nation i'd like to know how your franchises are dealing with this. >> so early on we kind of anticipated being hit, and we really were all hands on deck. so simply put, we had one supplier of beef, one supplier of pork, now we have several suppliers with our spec on a national level.
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and because our volume has gone up so much, really the individual supplier did not lose any business with us. we've added suppliers, and they're gaining usage as well. so just being ready, but thousand all of a sudden stores -- now all of a sudden stores we see the ships in the or thes, no drivers, no fuel to run the trucks, i give credit to all the owners. they're going down to our distribution company, sysco, going to the local houses and picking up the product. but we are maintaining. we're, again, just communicating nonstop. but so far we haven't been running out of any product. liz: that is certainly good news. but you have to be fleet of foot. my favorite sub is tune that that with jalapeno peppers on wheat. is your tuna real? >> yes. liz: that was the whole tuna-subway drama that made me very nervous. >> we won't get into that, but it's made fresh in every store.
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it is not in a pre-done container. ours is made fresh by our owners, white albacore tuna, mayo, black pepper, celery, that's it. so, yes. liz: real tuna. >> yes, yes. liz: no faux tuna. peter, it is great to see you. we'll be watching, we'll be cheering you guys on. come back and let us know how your staffing is going because, obviously, there are worker shortages everywhere. peter cancro. peter's been one of the great guests, more than the 120 guests on my everyone talks to liz podcast. i want you the hear his story of being a 17-year-old kid who bought the first jersey mike's. he was still in high school and he was a ceo. how did he do it and then how did he grow it and hold on to it. it's on anywhere you get your podcasts, spotify, apple, i want you to listen, let me know what you think. we're coming right back. ♪ ♪
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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. ♪ liz: well, charlie munger and warren buffett hay call it rat poison, but one star investors is making a deeper dive, karat woods ark investment will invest in the etf called ark 21 shares bitcoin futures strategy, because that's so catchy. [laughter] not directly investing in bitcoin or other digital assets as u.s. regulators have not allowed that to happen yet, but here's where cryptos stand. bitcoin jumping about $348, we're now at 57,761. ethereum and litecoin also having pretty solid days. not a bad move for litecoin, up
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2. but look at coinbase, jumping more than 5% right now intraday, we're just off the highs of the session after the digital currency exchange figuredded, you know what? we're going to design our own regulator. yes, they laid out a blueprint for a special crypto regulator, getting a little pushy with the official regulators, the securities and exchange commission, who oppose the idea. will the sec push back? charlie gasparino's been way out in front of this story, new details. >> yeah, i don't -- congress. this will be up to congress theoretically, right? congress could pass the law that would create a new regulatory agency. and we should point out there is some support inside the sec for this. hester peirce is probably for this. she's come out with similar stuff where she said, listen, we need to stop regulating the crypto business through enforcement actions by the sec, we also need a safe harbor, a timeout to make sure that -- so we can, you know, catch our breath, have congress weigh in and pirg if out what's going
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on -- figure out what's going on here because the sort of willy-nilly enforcement going after ripple, essentially crushing the -- liz: well, coinbase was annoyed because they couldn't get an answer on their lending, the interest. >> well, they did get an answer. if you do this, we're going to sue you. ripple got sued over the use of xrp to build out its platform. ripple points out, well, you didn't do that to e here to yum with, right? -- ethereum, right? bitcoin has been given the go ahead. and what's interesting about all of this is that you can see how it plays out, how regulation is sort of weird, sort of picking winners and losers. it plays out way to the favor of bitcoin and ethereum as opposed to others, and here's why. if you notice, cathy woods is not starting a xrp, you know -- [laughter] etf or whatever she's thinking of doing, right? she's doing a bitcoin etf.
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why is that? everybody knows, and we reported this fest on your show, i believe, at fox business on your show or cavuto's, that he personally lobbied jay clayton back in 2018 -- liz: so how must he feel about coinbase's move? >> well, keep bitcoin as a currency and not a security under sec rules. my guess is he hates it. one of the things about gary gensler if you go back and look at his regulatory history, he's a guy that likes to control stuff. the reason why, i think, the main reason why he wants to change market structure, force everything on to the exchanges, he believes it's more transparency. he doesn't buy the fact that it might raise costs because if you have competing exchanges and dark pools, guess what? lower prices. so he likes the fact that everything is centralizedded he's a progressive, you know, that's his business. he follows elizabeth warren school of economics. so he will go against this. the problem i think he's going to have is if the republicans take the house and the senate,
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there's going to be legitimate hearings on this, i am telling you. i know this because coinbase's lobbyists are out there, ripple's lobbyists are out there, they're all out there saying this guy is picking winners and losers, he's destroying an i have, and congress -- you know, republican congress, there's few things, there's things they really don't like, okay? he's, like, on that list because they think he wants to change the nature of the securities business -- liz: that's pretty gutsy, though, of coinbase to design their own regulator and submit that to congress. >> you know, this is a gutsy industry, right? ripple came on our show and said we think what they're doing is what gary wants to do, and it's bad for business. and we think they'ricking winners and losers -- they're picking winners and losers. and i think that's going to be the mantra going forward. is it appropriate for the sec toic if winners and losers? does congress need to get involved, and they're going to work through republicans on the commission. the two republicans on the
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commission, they're going to try to work that. and, you know, whether they're successful or not, i can't tell you. the sec does have a lot of power particularly in matters considered securities. less if it's considered a currency. but it gary gensler has to go up to congress and republicans control the house and the senate, he has to go and explain this stuff every week. liz: well, do you think that coinbase could be in dangerous territory by doing this? i mean, each individual commission does not want to cede or give up any of what they already control. >> yeah. i don't know. i mean, here's what i would say, i think coinbase smells the change in the political environment. they smell that the republicans are probably going to pick up the house, very good chance they'll pick up the senate. if that happens, that's a huge check on gary gensler, by the way, huge check on him. and everything he wants to do, market structure, cryptos, you name it, it's not good for him.
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liz: charlie gasparino. coinbase up 5.4%. big move there. there was a pandemic up by boom as lockdown animal lovers adopted and bought new four-legged friends at a torrid pace. today's countdown closer has a stock he says is going to help you cash this on the canine craze. closing bell, we're 9 minutes away, make that 8 minutes away. dow is still gaining, 512 points. dig -- big day of rallies. ♪ ♪ 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. vanguard. (sfx: video game vehicle noises, horns beeping,) (engines revving, cars hitting one another.) (sfx: continued vehicle calamity.)
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liz: breaking news. the market the are just below session highs, a second ago they touched session highs. we have been much higher for the dow if it weren't foreboeing. take a look at boeing right now. it is falling to session lows. if we put that up, it is down about 2% at the moment. you can see as we bum up against the closing bell, boeing is
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having trouble with some parts for its dreamliners. we've been watching this all day. boeing down 4.58 to $217 and change. now the fda advisory panel just in this hour approved moderna's covid booster shot for those 65 and older. it is j&j's turn to go tomorrow before the panel to discuss its booster shot. the pandemic forced major upheaval in the pharmaceutical industry and elsewhere. big changes particularly in the pet industry. according to the aspca, close to one in five households acquired a dog or cat during the pandemic. ah. today's "countdown" closer has the play to profit on. senior wealth advisor at strategic wealth advisors. we covered this the past couple months, it became such a thing. there is always a trade, is there not?
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what is the trade here. >> there is always a trade t comes with pets. so lettuce is the farm taught -- pharmaceutical company for animals. think dogs and cats. we love our animals. if they get sick we will spend the money so they get better. they have the livestock division think cattle. we want to protect the protein based food chain w we want demand to make sure the food chain is healthy. so zoetis provides volatility control. with potential for growth. liz: sew the tis, should you wait for a pullback or are you fine with it at this price. >> i'm fine with it. it is such a huge company.
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if it does go, if the market does pull it down, we're looking five or 10%. this is a steady, growth, volatility control for your portfolio. liz: your other pick is hot name today. microsoft making news in china. ending the official linkedin site. it is coming up with something less extensive to do with social media. at this price it looks very good, very healthy. how much more room to go is there above this? >> with microsoft we think there is five to 15% upside. because let's face it, they focus on everything that is important about technology. cloud, software, digital ads, gaming. they're a monster company and they're becoming a staple in the tech sector. we'll always need microsoft services. again, just like zoetis they will help provide volatility control with steady growth.
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liz: do you think today's rally as we broaden this out, do you believe that this is great bank earnings or is there something more afoot? we've heard a lot of people say don't count out the u.s. economy. it is growing. it will not shiver too dramatically. the stock market won't get too jittery once we start to see tapering by the federal reserve. anything you're concerned about here? do you feel we should be all in on equities? >> i'm starting out saying i'm cautiously optimistic. there are plenty of things to worry about. the government basically punted on the debt ceiling, infrastructure, taxes. so all eyes are on earnings season. i think it will be bumpy as we normalize off the covid lows. i think what we're really going to see, we'll see strong revenue growth but everything below the revenue line will be a little ugly. the scapegoat will be inflation,
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supply chain and labor shortages. liz: tony, thank you. he likes zoetis and microsoft. folks the dow is on track to close at five week highs. [closing bell rings] the s&p having the best day since march 26th. the dow snapped a four-day losing streak. we're at it tomorrow. that will do it for the claman "countdown." "kudlow" is next. ♪. larry: mellow, everyone, hello to everyone, welcome to "kudlow." i'm larry kudlow. i my riff comes later in the show. i want to step in front of a bombshell story from mollying way's book and additional reports how mark zuckerberg of facebook influenced may have changed the whole election fighting against donald trump. anyway we'll begin with hillary vaughn on capitol hill. we will go


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