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tv   The Claman Countdown  FOX Business  November 15, 2021 3:00pm-4:00pm EST

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i don't even blame jay powell. they keep dangling lael brainard as a possible successor if he's not dovish enough, so i get it. but i don't think they're going away as fast as people think. the market likes inflation if they can convince themselves the fed is going to willfully ignore it or doesn't see it. charles: we've got to leave it there. jim, nicole, appreciate it. liz claman, you've got a big signing this hour, don't you? if. liz: how about that? get out that bic pen -- [laughter] breaking news perhaps, after months of wrangling in negotiations over the trillion dollar bipartisan infrastructure bill, we have a little bit of sell on the news here as the white house gets set to celebrate the bill's signing into law. president joe biden will deliver remarks on the south lawn in this hour before putting his john hancock on the bill. we're going to go live to the white house when that happens. blink charging is one company primed to capitalize. the stock has been roaring
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higher. blink's ceo is here on the jolt he sees the bill giving to the everything v infrastructure and ecosystem as them biden sents a goal of half a million built out across the nation by 2030. we've also got breaking news on tesla. as the holiday shopping season wraps up, we've got the ceo of tanger factory outlet centers to give us his read of the retail landscape. and charlie gasparino, everybody, is back and breaking it. breaking right now, after countless congressional fits and starts, battles and compromises, president biden is about to sign his signature $1 is.2 trillion bipartisan infrastructure bill into law. the legislation will disperse billions to state and local governments aimed at fixing the nation's crumbling bridges, roads, importants will build out high-speed internet access to rural america and make investments in electrification and green energy.
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there's a whole slate of speakers ahead of the president's big moment. edward lawrence live at the white house following all the action. >> reporter: hi, liz. yeah, we're going to hear from the president any minute now, he'll speak for about 20 minutes here at the white house. thirteen republican house members vote for this and nine republican senators that voted for this bill. there were about three months between the votes from the house and the senate side of this. of all of those republicans who voted, there's only a handful who are actually here in attendance, many of those actually involved in the discussions. you see them on the screen here, negotiating all of this. so most of the senators, again, the white house is saying that this bill will help in the short and long term. listen. >> we are excited about the immediate job-creating potential of this bill, but we're more interested in shovel-worthy projects some of which are going to take some time, and that's by design. this isn't about getting through 2032, this is about true the 2020s and beyond that america
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is positioned to compete and win in the world economy. >> reporter: and republicans are saying of the 1.2 trillion only a small amount would go actual infrastructure. $39 billion for public transit, 66 billion to modernize rail service, 17 billion for ports and 25 billion for airports. and this is the list of some of the other things in this compromise. 65 billion for broadband internet, 73 billion for the power infrastructure and that includes, as you mentioned, half a million ev charging stations. you're going to talk with the blink ceo. 50 billion for resilience to broadly protect against drought, heat and floods in addition to major investments in weatherization of american homes and 21 billion for pollution removal. we will hear the president say that all of this spending that this bill is moving america forward. he will also say that this is all going to lift up america and also be able to compete against china. back to you. liz: edward, interrupt us and, again, we are just going to let
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everybody know that we're watching every single minute of this, and when the president comes, you will hear him. now, in the grand scheme of $1.2 trillion in this bill, 7.5 billion might seem inconsequential, but for the electric vehicle industry, it's seen as a game-changer. 5 billion of that 75 billion earmarked -- 7.5 billion earmarked for charging station networks across the country which many see as critical to accelerating the adoption of clerk rick vehicles. global charging station and hardware company blink charging already up 312% year-over-year, right now jumping 10.25% at the moment. investors potentially see it as well positioned tolan at least some of that money. joining us live from miami beach, blink charging ceo michael farkas. great to have you on, what i'm sure for the entire industry, has been an historic day. break down for us how meaningful today is for the private sector ev companies like blink.
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>> thank you for having me. it is tremendously impactful. there is no way we would be ab able to achieve the goals of the administration without the $7.5 billion. and it's going to be the extremely impactful for blink. not only do we sell our equipment to others, and that'll really help us in that arena, but we for the most part prefer to own and operate our charging infrastructure. this will heavily subsidize our ability to get more infrastructure out into the marketplace which will alleviate range anxiety and allow those who are thinking about getting an ev to more likely purchase an ev. liz: i'm glad you brought up range anxiety. part of the the issue with the ev adoption and whyst the within slow to -- why it's been slow to come, although lately it seems everybody's jumping on the bandwagon, but it's got very much this chicken and egg cloud over it where people say what if i'm on a long drive and i can't find a chargingation? this certainly -- station.
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this certainly will address some of that. is there even a number you can put on that and how quickly you'll see it. >> i wish i had a crystal ball and would be able to tell you how much of the $7.5 billion, you know, we can get. unfortunately, i just can't do that. you know, we are a public company, so there are some restrictions, but we are going to attempt to get as much of it as possible so we can deploy more charging infrastructure throughout the united states. and again, it'll also be very helpful because a lot of customers want to own and operate the charging stations, and it will allow them to buy charging stations and even more of them at their locations because of these subsidies. liz: your charging stations are universal, so if i've got a volvo that's all electric the, that will still work as well as a tesla, correct? >> that is correct. no matter what it is, a gm, a ford, a mercedes, a lucent, a
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rivian, they all work with our charging stations. tesla has their own adapters, but a couple of them they get with our charging stations. you can't use a tesla charger for any other place today. liz: obviously, the government believes that it needs to incentivize and help out. they did for the railroad industry, the pharmaceutical industry, the big oil industry years ago. but at what point do you feel that the ev world can stand on its own? again, i'm asking you to bring out that crystal ball you may not have, but you've got a lot of taxpayer ors who say, wait, you're getting a ton of money here, you've gotten tax breaks and incentives from the federal level to the state level, at what point can you take off the training wheels, so to speak? >> ultimately, if the business needed to exist without government subsidies, them. but -- they would. but in the competitive landscape as compared to, say, china or
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other countries. this is going to help us move the ev market along. we were originally the initiators of the ev market. europe took a leap over us as well as china. this is a very smart investment on behalf of the biden administration. this is a strategic industry that we need to protect, and we need to make sure that we participate in. this will definitely help evs proliferate throughout the entire country, and it's all about fueling as you correctly stated. we want to make sure that there's charging infrastructure for everybody no matter where you live are, no matter where you are in society. we want to make sure the charging infrastructure is there for you whether you live in mull de-family residential that you have no parking facilities and you park in the streets to those thatly in apartment buildings, single-family homes. one of the things that separates blink from our competitors, we are a totally fully-integrated ev charging company. we have a deployment methodology based on how you deploy capital at your locations whether you're
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an individual owner or a mull i-family residential owner or whatever commercial properties may own properties. we have a solution for deploying infrastructure in those location, and we even sell it if the property other than wants to own that equipment, and we can manage it for them. but for the most part, blink's main reason to exist was to own and operate these charging stations, to really make our money off the refueling of these vehicles. liz: michael, before we let you go, hiring. are you hiring in -- hiring? if so, what kinds of jobs and salaries? >> we are hiring across the board. our industry is growing. people don't really understand how big this industry is growing. globally, you know, we're at maybe a few hundred, couple million global charging stations in the public markets. if you look at the numbers that we're seeing, by 2030 you need 120 million charging stations globally of all kinds to support
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ev proliferation. it's, we're hiring in india, we're hiring in europe, we're hearing in the u.s. i mean, you can go to our web site and look at different positions. we're growing at a tremendous pace and, obviously, it's all about our people. liz: a big day for you and the entire ecosystem of electrification. michael far cat, founder and ceo of blink. we'll have you back, thank you so much. >> thank you. thank you for having me. liz: want to let you know, with the markets down, the dow is now down 23, the s&p down 1, the nasdaq lower by 16. the program at the white house is about to begin. a union president from north carolina will kick off the program as we wait for the president's remarks. we'll watch all the infrastructure stocks that could stand to benefit, and we will take you to the south lawn as soon as the president appears. and we do have breaking news on tesla, it's just cut its losses by two-thirds.
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up next, you knew this was coming, the fed won't be so friendly next year to the interest rate doves. the advice morgan stanley's top strategist says will get you deals. our floor show traders ready to react. closing bell 49 and a half minutes away, we're coming right back. ♪ ♪
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liz: fox business alert, a top wall street firm says next year the fed training wheels -- i'm bringing back training wheels -- will come off the economy and warns investors you better look outside the u.s. for portfolio gains. in his 2022 global strategy outlook, morgan stanley not only said the s&p will not see gains, it will close out next year at 4400. that's about 6% or so below where it stands right now. morgan's reasoning is with inflation boiling up, the federal reserve will be less inclined to keep rates near zero, therefore, investors should head to europe and japan. morgan says those areas as represented by the msci european index can next year deliver 8 and 12% price returns
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respectively. year to date, we have seen the ftse and cac on the move, topics as well. all are up with japan's nikkei 225 lagging behind its european peers. let's bring in kenny polcari, scott redder the. kenny, is it finally time after a 9, 10-year bull run in the if u.s. to look elsewhere like morgan is saying? >> listen, i've never been out of europe in all this time because you have to be there. now, to morgan's point, i do agree that i think next year, at least the first half of the year, is going to be tough in the united states, right? i think exactly right. the fed, look, the market's down on speculation that they're going to have to raise rates or taper faster than expected. so, yes, while i agree with that, i'm all -- i'm not ready to abandon the u.s. i understand it might be a tough year, but adding to europe and maybe overweight a little bit might be the way to go, but i wouldn't walk away from the u.s.
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liz: yeah. scott redler, wall street is littered with people who 5, 7, 8 years ago said, okay, we've seen enough, you've got to walk away from the u.s. but it does seep seem rather toppy. one of the biggest game-changers would be that the federal reserve is expected to hike twice next year, though oddly, morgan's economists say, no, no, that'll be 2023. rates are on the move, what do you think? >> there's definitely a good argument for underperformance next year. we're with up, what, almost 20% this year and historically the bull market is up 7% a year over time. so maybe we did steal from some of next year's gains or maybe the last decade has. so i kind of agree. but the question is, you know, do long-term investors try and time this market because if they stop investing, i know a lot of people that tried to do that, and they never got back involved. so it'd be better for long-term investors to continue to stay the course and put monthly flows
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in to get a good average cost over the next year or two if it happens, if it goes that far. so when we resume the upward trend, i know guys at the time of the financial crisis, a month before the break, and they bought it back. do you know how much higher we are? it all depends on your time frame and how active you are. liz: don't think that you can time market. [inaudible conversations] >> you can if you're active, yes, to scott's point. and scott says that every day. but as a long-term investor, someone that's trying to build the plan, i think scott's exactly right, and i've said it before. you know, you've got to stick with the plan. sometimes as uncomfortable as it can the feel, in the end that is the right thing to do. liz i am looking at the tape right now. the nasdaq is down i want to say, let's see, year to date it's the up 23%, year to date the russell's up 21%, s&p up 24%, dow up 17%. so we've had incredible runs this year and certainly from the
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bottom, march 23rd of last year, right? scott? >> yeah. listen, if you need to create alpha compliance, this gentleman from morgan is probably wrong. he missed the last 8%. so if he's trying to be cute and save some money, you know, he also a week or two ago said, oh, now maybe we can wrap it for thanksgiving, and then he's saying after thanksgiving it's over when historically december is a positive seasonality. i wouldn't try and and time it as an investor. my wife's 401(k) was built from the financial crisis for two years she kept growing every single month. [laughter] every single month. but if you need your money maybe next year, maybe you dial it back a little bit. liz: well, that's dollar cost averaging and, i don't know, i mean, if you believe that you can't time the markets over the long term the, you shouldn't dial it back. gold, i want to get this in.
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five month highs on inflation fears. but remember, we've also seen a pretty decent move for, as we said, the treasury yields, cryptocurrencies, etc. kenny, what do you think? anything there? >> no. listen, i like gold, i like it as a part of your portfolio. i think you should have it, not necessarily overweight it, but i do think gold is going to do well in what suspect is going to be a very inflationary environment through 2022. liz: so nice to see you and, you know, age before beauty. >> that's it. you don't look so good as i do at 60. [laughter] liz: kenny polcari, scott redler, great to have you both on monday. president biden said to be close to making his pick for the federal reserve chair. will he give powell another chance, or will he appoint lael brainard to the post? much more dovish. and how will the markets react? charlie breaks it next. closing bell, 40 minutes
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away. the dow is still down about 16 points. i want to check here, high of the session was a gain of 135, so we are losing air. ♪ ♪ flexshares etfs are built with advanced modeling. to fill portfolio gaps and target specific goals. strengthening client confidence in you. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire
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deposit, plan and pay with easy tools from chase. simplicity feels good. chase. make more of what's yours. ♪ liz: president biden said to be close to name thing the next head of the federal reserve with the announcement coming possibly as soon as this week. it is a close call between incumbent jay powell and fed governor lael brainard who began at the federal reserve back in 2014. what are the wall street oddsmakers seeing? welcome back, charlie gasparino. what have your sources been telling you? >> you know, it's interesting, i've been querying them throughout the day. it started out at 50-50, but the word they're getting from the white house and, again, take this a little bit with a grain of salt, this thing change by the minute. if you were going to pick something right now, you've got
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to give the slight edge to lael bray gnarled. there's -- lael brainard. you had the whole insider trading scandal, and you keep hearing about inflation, and as you know, the fed's main job is to deal with inflation. bottom line is i don't know if there's much daylight from a policy standpoint between braynard and powell. i think they both are doves. i can't imagine that brainard's going to be a lot more hawkish on inflation than the powell, so i don't know if you can really blame him for inflation because the alternative would be even weaker. but that's what we're hearing. and, you know, listen, if you told me two months ago that powell would be 50-503, i would say you're crazy. if you told me six weeks ago, i think i reported on your show and cavuto's show both that he was in trouble because progress is don't like the taper when you cut back on bond purchases when you're trying to sell a lot of bonds. and right now the federal
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government is out there, it's going to be printing money, needs to print money like crazy to deal with this infrastructure package and maybe the build back america thing. the last thing you need -- you need the fed in the market at least buying the secondary supply because there's not enough buyers out there. but this has shifted. i think now you've got to give a slight edge to brain job ard -- brainard. i would say, i would not make a bold call on this myself. [laughter] i'd say it's 50-50. but even 50-50 is pretty remarkable given where we are, and i think that's the culmination of a lot of bad stuff going down around jerome powell including the insider trading stuff. there's clearly a progressive push to get him out -- liz: well, let's remember, bob trump hated him too concern donald trump hated him too. >> he's not exactly a dove. and, you know -- or a hawk. and just remember one thing, the
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biden has essentially caved on every nomination to the progressive wing. now, maybe this is the one where he says enough's enough. but you look at the sec, the ftc, you look at janet yellen in treasury and then you also kind of look at the justice department's antitrust division. look at the people that he's put in the those posts including a commissioner to the ftc, gigi sohn, and, you know, she's very radically left on regulatory issues. you know, he's caved to the left. so maybe this is where he draws a line in the sand, but i'm telling you, liz, you know, people are giving lael brainard the edge. do you want to talk about amc? i know you love this stock. >> oh, i absolutely do. it is jumping 7% right now. and i heard from a lot of people in the twitterverse who were excited to see you come back. in fact, one of them told me that i should show you no mercy. that, of course, from kobra kai.
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>> yeah, of course. how many followers does kobra kai have? liz: she's got -- hold on, is it 4 million? what does it matter? she had a good -- >> i think it's 4. [laughter] well, listen, i don't care if this thing goes to 100, this is not a short squeeze. this is light volume trading going up, this is the apes buying more. and all's i'm pointing out is this: if you're going to say, mr. and mrs. apes, get involved with the stock because it's going to 11 because -- 100 becaa short squeeze, i'm going to call you out on it and say you are trying to manipulate the stock going forward because there is no short squeeze. the stock is easily borrowed -- liz: it's a free country. how is an attempt thed manipulated short squeeze? >> no, no, if you tout
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something. you understand what a tout does, right? liz: of course. yeah, yeah, yeah. >> if you tout online or wherever bologna and the short squeeze meme is a bologna if, okay? it's not like i love adam aaron, he's doing a great job. i believe he's going to show pop corn and the stock's going to go through the roof. that's one of his diversification plans -- [inaudible conversations] >> but to buy amc popcorn, liz, and stream your favorite movie. liz: it's good butter. >> my point is if you going to go out and tout nonsense, that that goes -- which is demonstrably nonsense, particularly when it comes to stocks, you start getting really close to securities manipulation because those relies. there's no short squeeze here. it's easy borrowable. we're not going to hit that. now maybe the stock hits 100 because adam aron is a great
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ceo. liz: it's a possibility. listen are, it's already jumped 1 915% year to date. >> right. liz: again, a lot to play out here. there is a runway as we expect the economy to open up more and more although right now we have a little bit of a flare-up in covid cases as we with understand it. charlie, so lovely to have you back except you're not here in studio. >> i'll be back tomorrow. liz: i will scratch you. >> i will grace you with my presence tomorrow. [laughter] i might even shave, by the way. liz: just shower, that's all i beg. thank you. >> i might shower. i might. [laughter] liz: all right. thanks, charlie. the supply chain trying to play grinch with holiday retail, but could the elf on the shelf work its magic to keep store shelves filled? we're going to get the lowdown on the pre-holiday retail rush from the ceo of outlet mall operator tanger who's seen his stock ring up 105% in gains so far this year. this is a fox business
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exclusive. he's going to tell you what he's seeing on the ground. closing bell, 29 minutes away. dow is losing 22 points now but still not at the lows of the session which would be a loss of 29. not far from that. we're coming right back, stay with us. ♪ ♪ like jack. he wanted a streamlined version he could access anywhere, no download necessary. and kim. she wanted to execute a pre-set trade strategy in seconds. so we gave 'em thinkorswim web. because platforms this innovative, aren't just made for traders - they're made by them. thinkorswim trading. from td ameritrade. (vo) the more we do with our phones, the more network quality and reliability matter. and only verizon has been the most awarded for network quality 27 times in a row.
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dad, we got this. we got this. we got this. we got this. life is for living. we got this. let's partner for all of it. edward jones ♪ liz: 90% of the s&p has now reported quarterly earnings, some huge names in retail have not yet. but they will this week. look at this, consumer giants walmart, home depot on deck to report numbers tomorrow or morning before the bell followed by target, lowe's, kohl's and macy's later this week. investors are eager to see consumer trends as we head into the all-important holiday shopping season. we're also going to get the october retail sales number tomorrow. economists estimate a 1.3% rise month over month. remember, the the november
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consumer sentiment number we got on friday was horrible, it hit a 10-year low. that said, the national retail federation predicts retailers will clock the highest holiday sales on record, but will consumers throw caution to the wind or be more cautious shoppers? let's find out from somebody who's actually in the trenches, tanger factory outlet center ceo and president joining us live in a fox business exclusive. good to have you, stephen. you guys are a destination for shoppers who want hot name brands but at discounted prices, so we want to get inside consumers' heads through your eyes. tell us what you've been seeing as we barrel toward black friday. >> first of all, liz, thanks so much for having me back. liz: sure. >> we started our holiday shopping season on november 1st. the decorations went up, and the people started coming out. in fact, people are listening to shop early and get the products that you want, because we're seeing traffic starting to build as well.
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liz: all right. so what are they buying? when i say what, are they buying a lot? what is the average ticket? i know you guys get all the data, you know, tell me what you are teeing as far as the actual -- seeing as far as the actual numbers are concerned. >> we're seeing bigger baskets being built, that's for sure. customers coming earlier, and we see them shopping later, and that's a big part of our push for this holiday. we've added a lot of amenities to the shopping center so that we are creating measure just the retail draw -- more than just the retail draw. our open air shopping centers are places where people want to gather, and we're seeing them get together, and we're seeing them gather. we're also seeing them shop, and we're seeing them spend. footwear, apparel and hard goods, hard goods in the form of furniture. we've got a number of furniture retail stores in our outlet centers, and they're cash and carry. so for folks that are suffering the lag of long lead times with some of the products that
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they're ordering, cash and carry, buy in store, pick up from that store same day and bring it home. liz: okay, i'm glad you segwayed to that because the supply chain insanity has really halted a lot of people from being able to get what they want and from the actual stores being able to deliver. so, i mean, at some point are you starting to see the cash and carry shelves start to thin out? are you worried about that? >> well, i spent the weekend in the stores, and i haven't seen any early signs that the shelves are thin. i've spoken to a lot of our retail partners, and what they're saying is they want to get the product as close to the consumer as they can, and that means bricks and mortar stores because they understand that's one less supply chain issue they'll have to deal with. liz: the consumer price index surged, this is unbelievable, 6.2%, to the highest level in 31 years. inflation is definitely here. it's been here since the start
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of the year. what are you seeing, any shopper reaction to that? >> well, inflation definitely, it favors the value shopper. you know, don't forget we are the famous name brand, and we're on sale every day, all day in our shopping centerings. we're not seeing the early price breaks that we've seen in years past, but our retailers are value priced every day, and our shoppers shop value on their famous bronze every day. liz: there's been a lot of talk about sort of front-running holiday shopping, get it now while you can because it won't be there. you already addressed the empty shelves issue, but are you starting to hear any anecdotal evidence from your retailers? because you've got, as we've got on your screen, bath and body works, tapestry, nike, these are names, ralph lauren, names everybody or wants to shop at. of course, these are the outlet mall prices, but are you
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starting to hear from them that that's what they are actually hearing from the customers walking into the outlet stores? >> no, we're not hearing that yet. in fact, i spent lot of time in the last, i'd say, week or two speaking to each of those retailers that you have up there. and in every instance, the stores are stocked, and the customers are buying although, like i said earlier, they're not at the historic low prices that they've been seeing. in fact, in a lot of our shopping centers, the retailers will break price relatively early, take an additional savings off of the already low price marked in the stores. but we're seeing a lot of the higher margin sell to us in a lot of these retail stores now. but the velocity's still there, the traffic is there, and the shopping is happening in our open air outlet centers. liz: your stock is up 105% year to date and, i believe, about 130% year-over-year.
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granted, we're coming off a very low low from last year, but ill argue that is certainly indicative of a very smart and frugal shopper. we saw that at the financial housing market implosion, the recession. people got smarter. but do you see that holding on? >> yeah. there's no reason that it shouldn't. again, we're selling the famous brand names, the ones you had on the screen -- nike, ralph lauren, tap industry brands -- at everyday value pricing. everybody likes these great products, logo products, and everybody likes the value associated with shopping in the outlet center. liz: i know i do. stephen, great to see you. thank you very much for giving us that feel of what's happening in the outlet malls over at tanger. thanks. >> well, thanks for having us back. liz: anytime. we are still waiting for president biden's remarks ahead of signing a trillion dollar infrastructure bill. right now senate majority leader
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chuck schumer is speaking. we are going to take you to the white house as soon as the president begins to outline what he hopes this infrastructure bill, bipartisan, will bring to the nation. and it's not a friendly ghost coming to casper's rescue, but a white knight. details on the struggling mattress company's surprising move straight ahead in today's pop stocks and, yes, we will bring you that tesla news. closing bell ringing in 17 minutes. we've got to tell you, last week bitcoin came within $10 of $69,000 as investors hunted for protection against inflation. yes, bitcoin has retreated, but remember, the 52-week low was just under $16,000. we're at $63,792 right now. ethereum down just a bit to 4557 or and litecoin up $9. we're coming right back. ♪ ♪ bogeys on your six, limu. they need customized car insurance
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liz: fox business alert, informsers n casper sleep heading for what could be a good night sleep tonight, shares of the bed in the box company skyrocketing 87% right now. that is not a typo, after announcing it's agreed to be taken over by durational capital management for $6.90 a share, that would be a 94% premium to casper's closing price friday. if this deal goes through, it will shut the public doors on the mattress maker's kiss mall performance -- dismal since going public at $12 a share february of last year. oatly down about 21.6%. the producer blamed
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covid-related productions for lower than expected revenues. oatly, like casper, yet another company trading well below its ipo price of $17 a share. oatly at $9.24. dollar tree stock extending its branches on a "wall street journal" report that activist investor mantle ridge is demanding a better pricing strategy to boost the stock price. deutsche bank upgrading the stock from a hold to a buy on that news the stock at the so much the s&p 500 and the nasdaq. and tesla shares, here we go, folks. what a day, what a session it's been. tesla shares well off their lows of the session. the stock gapped down to $978 a share today touching bear market territory, but has erased at least half of it on a filing that made news this afternoon. so it was at 978, it's at $1,007 right now. the filing showed that famed
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tesla horse seller michael burre has thrown in the tesla short towel for now. he closed bets against the ev maker, a previous finding showed he had bearish bets on more than a million tesla shares. and separately, there's an elon twitter fight to talk about again. the billionaire ceo shot off a series of tweets yesterday aimed at vermont senator bernie sanders after sanders tweeted sunday that the wealthy should, quote, pay their fair share, musk beyonded by tweeting: i keep forgetting you're still alive. want me to sell more stock, bernie? just say the word. sanders is not the only one who thinks the world's richest should pay up. in response to the musk survey weeks ago, elon's own twitter followers voted 58-42% in favor of him selling stock to pay more in taxes, and sell he did.
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musk sed 7 billion worth by friday causing the stock to briefly depp early in the session today. bear market territory, of course, is a 20% decline from recent highs. america has got a tech addiction, and today's countdown closer says it will still dominate our lives. she's got the stock that will deliver profits, she says, to your pandemic portfolio. of closing bell ringing in 9 minutes. the dow now down 61 points. that would be very close if not at a session lowful we're watching -- low. we're watching the action. don't go away. ♪ ♪ as an independent financial advisor, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent
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and if you order today, doctor youssef will also include the action guide: 'practical questions and answers for this present crisis'. call or go online today for your free copy. everyone remembers the moment they heard, “you have cancer.” how their world stopped... and when they found a way to face it. for some, this is where their keytruda story begins. keytruda — a breakthrough immunotherapy that may treat certain cancers. one of those cancers is advanced melanoma, which is a kind of skin cancer where keytruda may be used when your melanoma has spread or cannot be removed by surgery. keytruda helps your immune system fight cancer but can also cause your immune system to attack healthy parts of your body. this can happen during or after treatment and may be severe and lead to death. see your doctor right away if you have cough, shortness of breath, chest pain, diarrhea, severe stomach pain or tenderness, severe nausea or vomiting, headache, light sensitivity, eye problems, irregular heartbeat, extreme tiredness, constipation,
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infrastructure bill. we should mention that the dow would be down much more if not for boeing, the aerospace giant leading the dow 30 right now after reporting a number of plane orders at the 2021 dubai airshow. we have got boeing jumping 5 1/3% right now to $232 and change. separately a u.s. judge on monday approved boeing's agreement to acknowledge liability for compensatory damages and all the lawsuits filed by the families of the 157 killed in the 2019, ethiopia airlines 737 max crash. airbus booked it is first order for a newly launched wide body freighter, pushed into a market dominated by rival boeing at a time when air cargo is booming because we have a supply chain problem. besides a slew of retail earnings, have a couple tech names reporting n -- nvidia,
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cisco. qqqs, hit a record high of on november this. right now it is trading right below that level. also our "countdown" close's pick. harmed pepper, pepper international absolutely loves tech. give us your thesis right here specifically as the qqq is very close to its record highs. >> hi, liz. i think that qqq is close to its record high today but we still have much more to go in the coming years. consumers have switched over virtual lifestyle companies and companies switched over employees coming in a few days a week. hetech life is here to stay. they will come out fighting again the next quarter. i think we'll see a very, merry christmas for all the tech enabled online businesses and i think qqq has more to run. liz: okay.
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we know the qqq has a lot of tech in there. in the s&p five hundred more than 90% of the tech names in that broader index have beaten on earnings estimates for the third quarter. what's your estimate how the fourth quarter will end up looking? >> i think the fourth quarter is going to meet and beat again. why? because i think these companies are continuing to get even broader adoption, not only in the united states but globally. i do think you will continue to see happy results from the tech sector. there is nothing there that will suggest consumers are switching back to their ol' way of life. the virus is slogging around the world. nothing is changing. nothing is fully open yet. tech enabled lifestyle will continue and expand. why i think the fourth quarter will be a happy time for the tech sector. liz: we have the infrastructure bill about to be signed by the president. there are sort of crossovers and dovetails between tech and infrastructure names. do you look at any of them as we see the president is about to
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speak and is being introduced. forgive us if we interrupt. you look at any of these and see them as true opportunities? >> yeah, i do think there will be again, for example the amazon cloud will be used to store a lot of data for the new infrastructure plays. a simple example. people can look at pay, which is an etf that absolutely covers the infrastructure sector. and yes, there will be a lot of tech required to do infrastructure right in this new era that we're in. i think there will be a lot of jobs coming down the line from the infrastructure bill which will be very positive for the economy. liz: yeah. you can't really look at amazon just an e-commerce company anymore, with its cloud business, it is definitely a tech name. you know we also note that all of these technology companies whether it is blink we just had the ceo on or tesla, the ev names and ecosystem names are going to get a chunk of that money. how are you viewing those? >> i love them. for example, evgo has been up an
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amazing amount. new tesla of the world rivian coming out. i think consumers will embrace the electric vehicle future. charging stations and electric cars will be a great play over the next 10 years. it is definitely a long-term play. as you know liz i manage money for billionaire families. we think long term what will happen this week, what will make money over the next 10 years. electric cars, tech, all of these areas are going to continue to build steadily as we go forward. liz: all you have to look 10 years ago when tesla ipo'd, so many short sellers tried to kill it. another one threw in the towel, michael burry. he closed his shorts. tesla is off the session lows with a big volume push. we tried to jump on the story certainly, it could be a real opportunity there, right, carol? >> absolutely. tesla is a food long- good long-term play, rivian, epo.
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a lot of ways to play it. liz: carol, lovely to have you. we're still waiting for the president to take that podium for now. the markets are closing lower as the president gets ready to sign his trillion dollar infrastructure bill, signed and voted on by a bipartisan group of republicans and democrats. that will do it for "the claman countdown." kudlow is next. closing bell rings] ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. happy monday, folks. so over the weekend on various news shows we saw various biden communicators defend inflation and the economy and the 4 trillion-dollar social welfare entitlement spending, fossil fuel destroying bill that they argue will reduce skyrocketing inflation. it's a tough job a

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