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tv   The Claman Countdown  FOX Business  November 1, 2021 3:00pm-4:00pm EDT

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ies, point of sale technologies, systems, software, they allow businesses to operate more efficiently and that's more important than ever, especially from the small business side of things, so the company has a lot of potential. charles: luke, joanne, wish we had more time. we've got great names and we're here to try to make money and liz claman, when i started this show, we were a little, you know, wishy washy on the s&p it's joining the rest of the indices we could have a strong last hour of trading. liz: what is up with the russel, charles. wait, look at this. there's nothing wishy washy about the russel. you guys, up 2.25%. charles: by the way? liz: yeah? charles: being led by amc which is up more than 4% on good fundamental news, the russel has been sideways for six months or longer people are looking for opportunity maybe that's where you see the momentum traders go next. liz: i can't. if you look at the percentage gains of the other major indexes you know what let's show you, okay? far out pacing the s&p, dow and
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nasdaq at least for today, but we got a hot start for the traditionally hot months of the year on wall street that be november, so the dow and the nasdaq are hitting all-time record highs, earlier, all three hit intraday all-time highs, we are seeing that a little bit of a pullback with the s&p down just 1 point but any gain for any of the three means a new record on this first trading day of november. not so for american airlines, the major air carrier finding itself in a southwest-style mess with thousands of cancellations over the weekend. we've got the ceo of travel site trivago, they just notched a surprise profit and a doubling of revenue, but how long with trivago go if major airlines can't wrap their arms around the turbulence they're experiencing we'll ask the ceo. charles was mentioning amc. theaters toying with the idea of accepting a new cryptocurrency? why sheba inu maybe the latest meme coin for the meme stock and
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one company thinks it can kill crypto exchange coinbase by putting bitcoin on every block in a fox business exclusive we've got the ceo and co-founder of liberty x, on how he plans to pull it off plus jeffrey epstein forces the resignation of yet another major financial world ceo, charlie gasparino on what united kingdom regulators d & d not find while investigating barclays ceo and his relationship with the disgraced financeer. first breaking news of october stellar performance flew in the face of stock market historians what's november going to do despite the prediction that october be a volatile and ugly month because it usually is , strong earnings propelled all three major u.s. indices to close at all time highs on friday. look at that the s&p notched its 59th record close of the year, the dow 39th of the year and 38th record close for the nasdaq , all just in 2021 on the first day of november
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those same historians would tell you that november and december are historically among the best for stocks, but at this time, coming this wednesday the federal reserve is expected to reveal the much-awaited taper timetable when central banks will announce how they will unwind the $120 billion per- month emergency bond purchase. i should say central bank, singular, because it's ours, the federal reserve. with the dow and nasdaq making new records at this hour, are we witnessing the final market melt -up only to be frozen in place by the fed? to our floor show traders kenny polcari and kenny we've been appropriately warned that the fed and its tapering is coming. we don't need the market stimulus that we did during the height of the pandemic. what do you predict that will do to the november markets? >> so i think the markets kind of toppy here and it's going to end about here at the year so i think in november we'll find some churn that back and forth that's all going to depend on what he says on wednesday, how
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he says it, what the inference is, you know, everyone is reading between the lines, what did he really say, what did he really mean, it's going to be a lot of information in that. i think that's going to end up capping the markets and the markets will end the year up here, i'm not looking for any real collapse but i am looking for some churn in november as we move into the december, but so much is going to be dependent on what he says on wednesday, and the tone in which he says it. liz: okay, so he is jay powell, the head of the federal reserve. john, i don't know how much longer he can go with doing this word salad of well, you know, we'll sort of taper but maybe in what we see is sort of this and that . the fact is that people should be prepared for him to announce the actual timeline when it will start, but even as we are all prepared for that, and its been well- telegraphed, do you foresee the markets getting freaking out doing something as we start to once again see what could be a melt-up? >> so liz as you know i'm a charted market technician so i
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love some charts. i think in three-hour tests and written 23 books on the subject and i can tell you since 2009 the market has done nothing but go up, but now, in the last year, its done something completely new. it started to go up harder and faster than we've ever seen, so now that we're breaking out to all new highs it feels like it's going further and faster than it should, but markets can remain irrational longer than we can remain solvent. liz: kenny, november the best month do you predict it will continue to have that reputation >> no i think it's going to struggle because i think wednesday the market will have to come to the realization that the fed is behind the inflation scare and i think that's going to become evident and that's going to tap the market. liz: what do you do ahead of that? what are you trading? >> me? liz: no. yes, you! yes. >> oh, me, all right so listen to this.
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so i'm a long term investor not so much a day trader but i am buying downside protection in both the snh and dixie that will provide downside to my portfolio. in the meantime, on any pullback i'm looking for value, because you know, i'm in that value camp as we go into next year so i'm looking at names in the financial sector, looking certainly at some names in energy, i'm looking in consumer staple names, while they're boring they will provide some downside protection, from what i think, is going to be a volatile first half of 2022. liz: john what are you buying, what are you selling? >> you know, i'm interested in the s&p. it's not, it's like what you said, it's not is it going to pullback it's when. so when it does, if we've enter ed this new phase of the bull market that's more parabolic, that 3,800 level right now anywhere between there and 4,000 on the s&p it will become more and more important. this is technical analysis kindergarten. what used to be resistant for 10 years, that's now going to be our new support and something
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completely new. we've never seen a market at least not for the last 10 years, we've never seen anything like it. liz: here we are at 4605, kenny, john, thank you, gentlemen again we're at a record for the dow and watched the s&p just punched into positive territory. we've got this breaking news president joe biden arriving at a reception right now for the cop 26 which is hosted by the united kingdom's prime minister boris johnson, at any moment. now, earlier the president spoke at the opening of the climate summit, apologizing for the united states having pulled out of the paris climate accord during the trump presidency. biden saying it's time for other countries to step up to the climate change plate, but for anybody who thought that president biden be bad for coal , the biggest carbon emitter, right, coal stocks are super hot over the last year. look at consol energy at 656% year, you've got peabody energy
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up 847%, maco industries up 63%, renewable energy names have done well too but not as well as coal up about 142%, brookfield renewable up 12%, nex tera up 16%, okay so we have gains but coal is far out pacing just about anything else. what is president biden's plan to get the nation and investors to shift to more climate- friendly energy? edward lawrence with the president in scotland. edward? reporter: yeah, you know, liz very interesting though, one thing i want to point out what the president did today was he tried to change the debate on inflation by using climate change, and in his address to the climate conference here in scotland, he said that basically , the high gas prices are exactly the reason that we need to put in major investment into alternative sources of energy. the message is shifting now, from the white house, as gas prices and energy prices rise in the u.s.. >> high energy prices only,
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only reinforce the urgent need to diversify sources, double down on clean energy development , and adapt promising new clean energy technology so we cannot only all the work you know remain overly reliant on one source of power to power our economies and our communities. reporter: still the president admits that fossil fuels will not be removed overnight. he says that the u.s. is commit ting though to being netzero by 2050 so right now triple a says the price of a regular gallon of gas is $3.40. that is up about 60% from last year. the president has also committed the u.s. as well as other g-20 leaders to ending investment in coal plants and that could be why you're seeing stock go up, the supply and demand there won't be anymore investment although they did not give a date as to when that would happen. republicans are saying this is all just a waste of time because
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as you mentioned the leader of the largest polluter in the world is not here. >> in china, the world's biggest emitter of carbon is exempt from all this stuff not participating, they're laughing at the united states and the rest of the world. reporter: president biden is disappointed china's not here as well as the leader of russia. back to you, liz. liz: be nice if they came along for the ride. it's their planet too, edward lawrence thank you very much. bitcoin on every block. liberty x, partnering with major chains from cbs to 7-eleven and rite aid to let you buy and sell bitcoin. its ceo and founder here in a fox business exclusive to tell us how his strategy to maybe kill coinbase and save you massive on crypto fees. those mining fees that you're starting to see when you try and buy certain crypto, on coinbase. closing bell ringing in 49 minutes, the dow and the nasdaq right now on pace for all-time record closes, you've gotta see
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liz: the world's largest crypto exchange is back online at this hour, after a worrisome two hours where all withdrawals were disabled. binance tweeting out this morning it had suspended all customer's ability to withdraw their crypto. the exchange later said that a database system issue forced binance to temporarily halt activity and that at no time were user's funds at risk now let's look at bitcoin shares, it's not even a share, it's a coin, bitcoin is moving lower right now by about $1,449 per coin, we're at 60, 950, ethererum and litecoin are in the red, we've got xrp moving just slightly higher by 1.25%. this whole issue with binance though makes me wonder, will this kind of problem encourage crypto traders to search out and find a different way of dealing in digital? liberty x is the nation's first and largest bitcoin atm operator but its new goal to get bitcoin
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on every block with or without kiosks. the company's app enables people to buy bitcoin at thousands of c vs and rite aid locations and they are in a beta testing version with 7-eleven. chris yem is liberty x co- founder and ceo. chris this is kind of well beyond can crypto kiosks kill coinbase, accessing bitcoin at your local cvs seems to pump up the volume in the competitive atmosphere, does it not? >> yeah, what we've found is that people are inundated with different investment opportunities, products all the time and to really compete, you have to bring convenience and trust to the consumer, and what we found is ironically, big banks have figured this out there's a reason a bank of america, chase, what have you, pretty much every block. it's because people associate that with trustworthy businesses , and we wanted to do the same with this new technology in bitcoin. liz: you already have 22000 atm 's in 45 different states this is different. it's an app where if you
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download it, you have in indiana on your phone, walk into a cvs or rite aid and buy bitcoin at some point hopefully you'll be able to, i would imagine sell it as well but tell me why i would want to do that versus sitting in my home at a computer going on coinbase and purchasing this stuff. what is the advantage in the edge? >> sure. so there's really two main differences i would say. the first is instant delivery. so when you buy from us, you get the bitcoin immediately delivered before you leave the store. this is different from online exchange where it might show up in your account, but if you actually try to withdraw it, it'll take seven to 10 days and that has to do with the time it takes to do an aca transfer whereas an in-person debit card transaction or cash is instant, we're able to offer that settlement immediately to the customer. on the second, i touched on it a little bit earlier has to do with trust. it seems like every day there's a new hack, there's a newcomb promise in terms of online
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database or or line service and we found a lot of consumers at the end of the day still want to do business in-person, and it seems a little ironic that you would go to a physical in-person location to buy a digital good, but we've had tremendous success in exactly that because people get to see either an atm in front of them at the same-store they have been going to or they are able to pay money to a cashier and have a little more confidence their money just didn't vanish somewhere. liz: well, the timing is quite stunning to have you on today, when binance had the situation earlier today where they suspended all customers ability to withdraw, you know, it was relatively short window of time, arguably it could happen to anybody, but this is what i'm hearing you say, gives you the advantage, but what about why would you leave on the table , the advantage of the fees? you guys charge just what, $4.95 per transaction, and yet, when
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people go on to coinbase and they want to buy a certain amount of bitcoin, they're hit really hard, as i understand it, with mining fees that are sometimes more than $100. >> yeah, i think this is where a portfolio approach makes a lot of sense. i think some people just like the convenience of buying from their home. what we found is that bitcoin, the audience, is so broad that the use cases and the desires of a lot of the consumers vary so our goal is just to make it more trustworthy, more convenient, so that we're able to get more and more people into the space. the matter of the fact is most people don't own bitcoin today, we would like to change that and we think with our footprint, we're going to be able to meaningfully achieve that. liz: but chris, how do you get around the mining fee? are you guys absorbing that or you gotta explain this to us. >> yeah, sure. so a lot of the exchanges every time you buy bitcoin and withdraw it, based on the one transaction, we've actually
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built technology that streams them together so we're able to offer very low fees and you can see when you create a transaction or app, essentially it's combining transactions together, so that everybody gets the bitcoin they purchased but we're just leveraging the technology in a way that makes it a little bit more efficient. liz: you launched the app last june, tell me about the adoption rate what kind of jump have you seen as far as percentages are concerned? >> one thing that's incredibly exciting is people think that bitcoin is only used in major metropolitan cities whereas we have really good incites that the small rural town of 5,000 or 10,000 consumers has consistent consumer demand and it's really across-the-board and that's why i think there's really big missed opportunity in not having a very broad solution where we focus on software, we don't put down kiosks like other guys out there, and we're able to leverage and scale very quickly so that the person living in a rural area is not left behind. liz: are you worried at all that the app will cannibalize your
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original hard atm business? >> yeah, so at the end of the day our atm service is with debit cards so it's a different user base than one that might have cash carrying around especially if you're buying more , we've seen a lot of people actually prefer the debit card at atm so they don't spend 30 minutes inserting cash which a lot of consumers don't like. our goal is to make it very quick, efficient and painless. liz: chris, we want to hear more especially about the smaller towns and rural areas. i don't think they get enough attention and they're as i guess on tap and sophisticated as your basic crypto people here in the big cities, so we'll be watching that, thank you very much. >> thank you. liz: chris yim of libertyx. going whole hog, harley-davidson stock revving up the engines after a major trade deal puts it back in the driver's seat. that and much more coming up in just a moment in our pop stocks,
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liz: we need to look at a zillow chart right now, the stock is tanking, down about 6 1/3%, today, a keybanc analyst, edward ruma, highlighted that most of the homes zillow had purchased with this goal of fixing them up and flipping them , are now worthless than what zillow paid for them, and now bloomberg is reporting that the real estate services company is looking to sell about 7,000 of these homes to the tune of about $2.8 billion, the news comes just a few weeks after zillow reportedly stopped buying homes, because they could not
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find the labor, or the construction workers to spruce them up for resale but either way, according to this analyst at keybanc, zillow leaned into buying homes at precisely the wrong time. they probably bought too high, he's indicating, and now, have to unload them at a much-lower price so you've got zillow tank ing right now, pretty significant amount. all right anything that can move is on the move in pop stock harley-davidson revving up after the european union said it was dropping retaliatory tariffs imposed on u.s. products. the voter cycle maker had been hit hard by eyou tariffs during a trade dispute that centered largely on steel and aluminum tariffs imposed by the u.s.. morgan stanley picking a winner in the ev race, analyst adam jo nas calling ferrari his favorite stock, saying the company is getting nearly no credit at all for its next generation of cars and believes investors have not priced infer after it's ev strategy. we'll hog was up about 8%,
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ferrari is up only 1%. morgan's price target on race, the ticker symbol is 265, we're at 239 right now. lucid has been a really big story the past couple of trading sessions, as in it was going up. right now, it's falling just under 1%, after jumping in early trading the ev maker rolled out its higher end model sedan at a presentation in california over the weekend, they started giving out the ones that were already paid for , first time ever, for the company the wall street journal calling air dream a worthy opponent to tesla. lucid shares are up 265% year-to-date. speaking of tesla, tesla's power ing to another record high, while other ev's are also moving higher, xpeng reported record growth while neo reported a drop , tesla is up 6.7%, xpeng up 2.25% and neo up 2.25%. the oprah effect can only go so
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far in helping companies, right? today it is helping jessica alba 's the honest company pop after it landed on winfrey's list of favorite things for 2021 with its baby clothing organic cotton pajamas for the family so it's getting a pop of about 2.8% but still at $ 9.41 a share, honest is nowhere close to overtaking its ipo price of $16 a share dead money for the moment, american airlines still hitting turbulence at this hour after canceling more than 2,000 flight s since friday, but despite the rough patch at airports travel booking site trivago flying high this quarter, a surprise profit for trivago, what's going on and how long did they hold on to that growth if the airlines can't deliver? we've got the trivago ceo, next. closing bell 31 minutes away, s&p back now positive, you're looking at a tie effect a of record gains if we were to close
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right here, we're coming right back, stay with us.
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liz: for those of you who were stuck because american airlines didn't come threw for you over the weekend look away. but for those of you who didn't you've got a live picture of the american airlines terminal at the philadelphia international airport, take a look there as we pan over, you can see that there are some pretty significant lines, some real tense atmosphere here, because of course, delayed flights are holding up travelers how many delayed flights? well american airlines only adding on to this weekend's disaster, today it's 250, more canceled flights, this after 2,000 were canceled friday through sunday, but as airline travel attempts to find its footing once again, following the post-pandemic travel rebound , travel booking companies are seeing gang buster growth. trivago posting a 129%
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year-over-year jump in revenue in this mornings third quarter earnings, and that was good enough for a profit, right? they did not expect that to happen, analysts expected breakeven, trivago posted a surprise profit. let's bring in trivago ceo joining us first on fox business , axel, what drove your numbers to a surprise here? >> first of all, obviously, the return of traveling overall, particularly in europe and in the u.s. , but also, in latin america, and then secondly, to be honest, the rigid cost reductions that we had to implement last year when our revenue basically dropped to zero. liz: maybe we can show a one year for trivago because i think that that is pretty significant, and better illustrates what's going on because the stock is down just a bit today, but talk to me, axle, and what you make of both what's going on with
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american airlines and what's going on with southwest airlines just two weeks ago, where thousands of flights were canceled, both airlines blaming the weather, but there is some real question, as to work shortages, worker shortages, people not enough bodies to run these flights, and run the desks and run the gates. >> first of all, we've seen in the pandemic but also in situations like last weekend that any short-term change of travel plans is very very disruptive to the traveler, being it travel restrictions or cancellation of flights, so that is a big problem obviously. secondly, i mean, to be honest, i can not comment very well on the shortage in the u.s. airline market but we see it across all our markets in the hotel industry there is a labor shortage coming out of the pandemic and i would hope that we, i mean, government and businesses can jointly tackle that over the months to come. liz: this could really mean a major problem for you guys
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holding on to what you've just done which is post a profit. if you can't deliver the airlines can't deliver, then you may have some problems with people on your booking sites. i do know that your booking sites also deal with people who are driving or taking trains, et cetera, but what would you say to the airline ceo around the nation and the world at this point? >> i mean, the key thing for us as travel businesses and leaders in the travel businesses is that we offer predictable travel, so if there is a shortage, then it is much better to reduce capacity in time rather than doing it on a very short notice, and that to us is actually the key thing. we are well-diversified across many many markets and also across all possible destinations , we've got a local travel product that gives you local inspiration just driving distance destinations, but you need to be able to plan your trip, and that is the key thing. liz: well, there's a lot of competition in this area.
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there's booking, there's trip .com, there's expedia, airbnb, why go to trivago? i know that actually, you're very international in many ways, shapes and forms you've got a deal with huawei, for example, where you can go on one of their travel apps, i was on it today, looking. this probably opens you up to millions and millions of travelers. >> so the key of that proposition that we offer is that we compare across all the different websites that you mentioned, and across all the hotels and apartments that are out there, so it's a very very easy way to really get transparencies of what is on offer and where to book it and that's really the value that we're adding. liz: well, we're really looking at vaccination rates, i'm sure you are too. how key are increasing vaccination rates to travelers and the numbers scaling up? >> it's absolutely crucial. to be honest, it is the single- most important metric because we are now, particularly
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now, we're seeing that cases are increasing everywhere in the northern hemisphere unexpectedly and the countries that do have and the regions that do have a high vaccination rate face much much lower mortality rate right now, and that is what is coming down governments and leaving travel open, whereas regions where the vaccination levels are very low and mortality rates are ris ing, lockdown and travel restrictions are reimposed. liz: axle, it's a tough tough time but you guys made it through what has to be one of the most difficult years for especially the travel industry, and it looks like you guys are coming out of it. we'll see you next time. >> thank you. liz: a hand reaching from the grave. disgraced jeffrey epstein linked to one of wall street's biggest banking names leading to an exit charlie breaks it, next. closing bell ringing in 20
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minutes we're coming right back, with that, plus amc cinemark, what a weekend, what a month these theatre chains are coming off of, what's next. ♪ ♪ there are beautiful ideas that remain in the dark. but with our new multi-cloud experience, you have the flexibility you need to unveil them to the world. ♪
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liz: carnage, die and kill were among the very words that jolted actual life back into the box office this weekend. shares of cinemark, blasting higher by nearly 11% best gain in a year after the theatre chain reported its highest grossing month of the entire pandemic era, no time to die, and halloween kills lured millions of movie-goers to
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theaters for this last weekend of october and amc also jumping it reported an equally rosie picture as shares of the nations largest theatre chain moving higher by four 1/3%, and jump the cinema chain considering broadening its crypto vision, ceo adam aron, the hero of the meme stock crowd because he's opened communication channels with the retail investors so they can wie in on business decisions, tweeted out, a new poll friday. our i.t. group is writing code so soon we can accept bitcoin and litecoin and dogecoin, should we strive to take shiba e nu as well, so still the token named after the japanese breed of dog is up 7.5% right now and it has jumped 93 million% over the past year, as for amc shares spiked 1,624% this year, alone.
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turning now to this. the reputational damage inflicted by the ghost of jeffrey epstein continues. jeff daily, ceo of british banking giant barclays is out and stepped down under pressure by regulators invest gating his regulatory with sex offender while barclays says the investigation did not find evidence he was aware of epstein 's crimes, the investigation did find stale y was less than transparent about his relationship with epstein who was found dead in his prison cell in 2019 as he awaited trial on sex trafficking charges, to charlie gasparino on how yet another mighty financial ceo has fallen and what's next for barclays. charlie: right, barclays appoints an interim ceo and does a search essentially what they are going to do. my sources say it comes down to simply this , with staley and we've not been able to confirm this with barclays or with
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staley but people who know him said it's not that he was engaging in the activities discussing stuff that jeff was abused of. he downplayed the way they described it to me, his professional and maybe social relationship. he might have went out drinking or more went out to dinner and that's where he did that to the board and that's where it got murky with him and over the weekend when the uk regulators which have been investigating them came with their investigation and had e-mails and things in there, they thought there was only one course of action here, and even after sticking up for him initially they were defending him at first, because there was a gap between what he said his relationship was, again, not sexual, not in a sexual way but he may have socialized with him occasionally. there was a gap between that and what the e-mails revealed. now we should point out that staley says he's going to fight
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this , he says he's done nothing wrong. the bank still says there's no evidence of him being involved in the crime, but it is sort of remarkable that wall street ceo is years after epstein has died still get tainted for doing business with him. you know what's interesting when i did a little deeper dive into this , i said how does staley know epstein? apparently they've known each other for a while. epstein used to refer customers to staley when he was head of the jpmorgan private bank and staley was one of jamie dimon's right hand guys before he went to barclays. he ran, i believe the private bank, private wets management, and jeffrey epstein referred a lot of clients to him apparently , that's how he developed a working relationship it kind of, it suggests, just i'm trying to be fair here to everybody involved. leon black said he had a professional relationship with epstein because he knew a lot of
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people and good wealth manager. liz: apollo. charlie: who stepped down because of ties with jeffrey epstein. liz: he paid him more than 100 million for legal fees. charlie: right, not legal fees, investment advice fees. he's not a lawyer, but it was to handle his estate and various affairs, because epstein was, when it came down to it, wasn't a hedge fund manager. he was a high end wealth manager with a handful of clients and if you were a billionaire you could call him up immediately, oh, go buy me this painting, go do this and that's what these people used him for , jeff staley apparently, he did that as well but he had a little different relationship in the sense that it was a business relationship while he worked at jpmorgan. what's interesting to me is that the number of high level people here who believe jeffrey epstein was good at his job, okay? it wasn't just staley.
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it was leon black, it was bill gates, obviously, thought he was doing something right, they engaged each other about him raising money for i think the gates foundation, it was alan dershowitz. so remember, just because you know jeffrey epstein doesn't mean you're on the island. liz: can i just say one thing? staley has said he told investigators that he kind of drifted away from jeffrey epstein and he kind of even -- charlie: 2015 i believe. liz: charlie 2008 jeffrey epstein plead guilty to child prostitution in florida. charlie: having sex with a 17- year-old is, as jeffrey put it to me, because i was one of the last reporters he spoke to, epstein actually engaged with me a little bit before he got arrested because i was doing a series of stories on him and i
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asked him what he did and it was the most bizarre conversation. he said, and i'm not saying i endorse this , this is what he told me. he said it's not all that much different than what robert kraft did, only i had them coming to me, he went to the place and i said well how about -- liz: come on, children? charlie: i brought that up and i said i'm assuming didn't know and he said yeah, kind of, and it was the most bizarre conversation. he also said don't call me a pedophile and a hedge fund manager. the only thing worse than being called a pedophile is a hedge fund manager. those were his exact words. i will just say this. a lot of people knew jeffrey epstein. bear stearns, ace greenberg brought him in, he was well-known on wall street, just because you know him, doesn't mean you engage with activities. liz: absolutely but when you know that i guy has plead guilty to child prostitution --
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charlie: i agree but i talked to one person that knew him and said why were people still engaging? they believed it was a one off thing. liz: oh, please. charlie: i'm just telling you what they said at the time involving a 17-year-old and they thought that was, he made a mistake. i'm telling you what they told me. not saying i agree. liz: it's sticking to people years after he's dead charlie thank you very much we are coming right back don't go away. 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 findyourindependentadvisor.com you're a one-man stitchwork master. but your staffing plan needs to go up a size.
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part of humana's large network. if you want the facts, call right now for the free decision guide from humana. there is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. humana, a more human way to healthcare. ♪. liz: all right, then. look at tesla, intraday we just hit $1200 per share for the first time ever. you've got it right now at 12:01 $12,201. six months, year-to-date. this is unbelievable. we have tesla higher by eight full percentage points. the dow, the s&p, nasdaq all three are about to close at record highs, ahead of
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tomorrow's november federal reserve meeting. we'll get the announcement on wednesday, about the timetable for tapering. but it is the russell 2000. we began at the top of the hour with this, outpacing all the major indices today. if you look at the comparison of the percentage jumps here, russell up 2.6%. the dow is slightly higher by a fraction. same with the s&p, nasdaq up half a percent. is there an etf trade there how to play it? what is amazing we get technical with our "countdown" closer scott redler. early this morning before the russell was moving this high you said you have to go with this etf going long the russell. what did you see, how do you know? >> i try to find where the action is and people have been scratching their head with the russell the last two months because they're all watching the same channel i'm looking at, which is 10 months long. every week or so you want to find where is the money going, where can you make alpha? i think the s&p, the qs might
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have up and downside going into the end of the year but i think the russell could outperform. so last week i started to put on a call spread. what is a call spread. options on etf, wm. the call spread was cost a dollar to make four. that was one thing. then today i also went long the iwm, besides the options finally the trade triggered, meaning looking like it will resolve this range. it is above 230. if it gets above 234, 235. liz: where is it now? >> 245. i think it is outperform. it will be a enterate place i think for traders to focus on. liz: go back to the russell. i believe we're two measly points away at an all time record at this very moment. it needs to up 62 points. if you said this morning, russell needs to be up 62 points. that is a huge jump but we're seeing it right now.
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what else are you seeing with this market ahead of the federal reserve and what they may announce on wednesday? >> well, right now the market is comfortable with the tapering. i think most people do think they will not start until december, okay? if on wednesday they announce they will start november 15th, i think that would be viewed as a little hawkish. so what will probably happen we'll get a knee-jerk move down in the actual market. rates or yields go up a bit. maybe the banks that had a good earnings season you could see follow-through to the upside in the banks. morgan and goldman have really nice chart patterns right now. all of sudden the fed is hawkish, you might get a nice move in the banks. one other group i am working on i bought a call spread on, small cap bios. there is a ash conference for hematology. cancer suks. friggin' hates cancer.
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everyone gets guided when new young companies get accepted the in the conference to. i put a call spread on the xpi as well. [closing bell rings] people get excited about some cancer companies that will be another place to focus. liz: scott, there is the bell. record all around. s&p, dow, nasdaq. ♪ larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. president biden is having a hard time selling his agenda to american voters at home so he is going abroad. not having much better luck there. net zero greenhouse gas emissions by 2050 at the u.n. climate summit this week ain't going any place but we have fox business edward lawrence with the latest. edward is in edinburgh, the big show is in glass

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