tv The Claman Countdown FOX Business November 29, 2021 3:00pm-4:00pm EST
seconds to tell us the biggest risk. >> yeah hope it's not the 70s but interest rates gotta go higher inflation is at 6%, 10 year is at 1.6% that's the problem if rates go higher you have to be very careful with those growth assets with high multiples and bond funds get crushed. charles: sounds good guys let me , luke, ryan, thank you both very very much now liz claman, over to you. liz: charles i want you to look at the vix. i know you keep an eye on this but take a look at the fear index, it has gone hog wild. okay, friday it jumped 54% as mid-term anxiety gripped the markets but look at it right now dropping 22% to black friday 's bears getting chased off by the bulls as the new covid variant omicron may not be as worrisome as some feared. markets cutting into friday's losses and oils partial rebound leading the energy sector higher the emergence of that omicron variant, a hot topic at russia calling annual investment
conference put on by russian banking giant, president vladimir putin fresh from taking a dose of russia's experimental covid vaccine nasal spray, will speak at this conference. we've got the man known as putin 's banker, we'll talk to him about his country it's fight against covid, the russian economy, and if the new offenses in ukraine is coming soon you've gotta hear what he says. and amc theaters breaking the internet over the weekend when it offered a limited edition spiderman nft along with tickets to the upcoming spiderman movie "no way home" amc chairman and ceo adam aron is here live to explain what happened and why spiderman token s are the hottest item right now in the crypto sphere. first we begin with this breaking news, moderna shares are shooting higher right now after the biotech giant said it will "rapidly advance" a booster vaccine candidate for that new highly contagious omicron variant we've got shares
jumping 11.25% after a company spokesman said it could have a new omicron-specific vaccine available in large quantities by early 2022. now, moderna shares are up about 250% year-to-date but we also need to flip it over and check on novavax just halted in the last 25 minutes due to volatility. it's now trading again down 4.5% it's a 200 right now folks but folks it had gone as well as 188 you see the big drop and then a slight recovery here. now, even as the vaccine developers said friday that it had started working on its version to target the new variant the options market had telegraphed extreme volatility as investors came into today's session betting on a big move, and they got it. so right now, the stock is down about $9.61 or a loss of about 4.5%. let's get to this fox business alert, the bulls charging into the final hour of trade after president biden says no new lockdowns. addressing americans this
afternoon, the president calmed the markets by saying the new omicron covid variant is not a reason to shutdown the economy. the news sent stocks to session highs but so far the gains at least for the moment of the dow which is seen up 305 point jump those gains have not yet erased friday's fright fest where the dow dropped 905 points its worst day since october 2020. the s&p also moving higher, we've got that index up 70 points but still would need quite a bit more to blank out friday's 107 point loss, the nasdaq though coming the closest here, it is up 309 points compared to its 353 point loss on friday. let's look at the 10 year treasury yield. this one plummeted to 1.42% in this mass flight to the safety of government debt on friday, but has now recovered and trading at 1.528%. so, very much a sort of, do i dare say risk-on trade at the moment? after plunging 13% in the friday panic, oil seeing a partial re
bound of about 1.5% after its worst day in 19 months. we've got whiplash for the stay-at-home stocks can we look at connected fitness king peloton had in joyed a 5.7% spin higher on friday, now it's down about 5% you've got zoom video communications which jumped 6.5% as investors rushed back into the lockdown trade friday sliding this hour by about 1.5% as clearly some often thousand amygdala waynes for the sector and mega cap stocks the tech names in the throws of cyber monday are popping at the moment look at alphabet, amazon, we've got meta platforms moving higher , apple is up about 2.5% netflix just flat on the session , so let's get to the floor show we've got greg portel , head of consumer and retail practice and trader kenny polcari. kenny, this new variant appears to have a very short i guess shelf life when it comes to its power over the markets. to what do you attribute that as the bulls show some real
muscle today? >> listen, i think there was a huge over reaction on friday, first of all, as you said it was a shortened trading day. people were not, the action being driven by algorithms, right? then over the weekend we got all the news and it calms down it wasn't nearly the disaster or crisis that the reports made it sound like on friday so therefore, the humans come back and they sit down and they start to use their head and cooler heads prevail and people realize that is out of control. that look, we're probably going to have to live with covid for a long time, we'll get a different mutation, i wouldn't be surprised every six months there's a new mutation but it's all going to respond. it's all going to respond to vaccines so i think what you see today is this kind of dip your toes back in the water, let's just make sure we all feel comfortable here and then i think the market takes off again i think friday was ridiculous. liz: okay so you should have been buying friday if you weren't even aware. a lot of people weren't even
working as you say. >> exactly the point right so a lot of people they were away from their desks on vacation, it was a holiday weekend so really caught everyone by surprise, that you only adding to, i think , the move we got. a lot of people were just away, not participating. liz: greg, people were participating but not nearly as much as expected in black friday shopping. talk about cyber monday, can it start to show a little bit more strength than we saw on black friday and how big a disappointment was friday's number? >> well we're starting to see a true lengthening of the retail cycle because of all of the supply chain pressures and the staffing pressures retailers have been under, they really had a very intentional move to extend the holiday shopping season putting pressure on the numbers related to the big days such as cyber monday and black friday. the consumer overall is still healthy. the question is, do they spike on particular days and that's really not the overall story for the holiday season, which is really six or seven weeks now.
liz: in-store shopping dropped 28%. that, to me, is really interesting because clearly, last year, nobody was in the store shopping, so does this portend something negative for the retailers in the next week or so? >> well it's more a story about the volatility of the shopper and how they shop. no longer can we really look at a single channel, a store online all of the commerce is now multi -channel and the retailers that are able to engage with consumers across those channels seamlessly are going to be just fine this holiday season. overall spending will be positive. the question is, who are the winners and losers and a lot comes back to who views the consumer as a consumer as opposed to a channel. liz: kenny you buying anything right now in these last couple minutes of trade? >> listen i'm still in the value camp because i'm playing much more conservative from the value side going into
2022 i think that that's where you have to be, so i'm looking at consumer staples. i love energy still and i love financials, those are the three places i'm putting new money to work. liz: well energy is still cheaper than it was let's say thursday, right? >> so far it is. liz: only scratch back about a percent or so, kelly polcari, greg, great to hear from you we have this fox business alert a major shakeup at the top of twitter sending the stock on a really wild ride. ceo and co-founder jack dorsey stepping down immediately. the news spread like wildfire as the open shares popped on the rumor going as high as $ 52.24 trading was halted and as soon as the company confirmed the stock resumed trade and subsequently lost all gains. we stand now at $46.08 down about 2%. dorsey is going to remain a member of the board until his term expires in 2022. he gave no reason for his resignation except to say he
believes the company is ready to move on, and twitter cto will take over the helm and he's been with the company for more than a decade so he understands the back drop of all that happens there but the change could be due to the fact that the stock has been a serious laggard, year-to-date twitter lost about 23% while the nasdaq has gained 22% over the same time period. elon musk just got an early christmas gift. paper gains of $12 billion from today's four 1/3 percent bump in tesla shares, they could begin model y production at its berlin factory within the next few days and if you're waiting on your tesla delivery musk tweeting this afternoon that "the company 's end of quarter delivery blitz will be very intense" just slightly less than in the past. overall, ev makers are benefit ing from a rotation back to riskier assets at this hour, so you look at kanu, lucid,
rivian all moving higher, biggest jump of nearly 7%. it is still, however risk offer u.s. casino operators after los ing ground friday when the new corona virus variant omicron hit the headlines and a separate headline putting shares of las vegas sands, mgm resorts under a bit of pressure 11 people were arrested over alleged links to cross-boarder gambling and money laundering in china's gambling macau. investors worrying about the mid-term potential loss of business as the longer term regulatory implications. your friendly neighborhood spiderman usually known for webs but in this case, he broke the web. movie theaters seeing massive online ticket traffic for the december 17th release, thanks in very large part to amc theaters breakout offer. limited edition nfts, for its
special tier movie ticket members. amc chairman and ceo adam aron joining us live next on what his company's unique move says about the box office demand for no way home, and the sizzling interest his retail shareholders have in all things amc. closing bell ringing in 49 minutes the "clayman countdown" is coming right back with armed after the break the dow still gaining about 303 points. my retirement plan with voya keeps me moving forward... even after paying for this. love you, sweetheart they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do. aw, grandpas are the best! well planned. well invested. well protected.
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liz: all right breaking news amc 's movie ticket website is backup and running after a massive surge in demand for the first-ever spider-man non-funigible token crashed it, adam aron started it with the announcement the world 's largest movie theatre chain is partnering with sony to offer free nft who buy advanced tickets for spiderman no way homes debut and this idea coming from you, meaning his retail investors. the offer started at midnight but the minute amc offered and here is one of them on the screen. 100 unique nft's to the first
86,000 online pre-sale ticket buyers the announcement triggered an influx of online traffic to amc's website causing a crash as customers tried to get their hands-on the unique digital art work. amc shares are in the red for a second straight session after the new omicron rocked the theatre industry on friday but here to talk about it is amc entertainment chairman and ceo adam aron. adam? are the spiderman nft's sold out let's get that news out of the way. >> well, i've gotta tell you, liz, about 98% of what you said is totally true, i'll correct the one thing that wasn't. we announced yesterday at noon, an idea that we've been working on for months and months that came to us from our retail shoulders and they're in love with cryptocurrency and they educated me what a really interesting idea be to create an nft around a big movie or
movies. we talked to sony, we found that a blockchain expert in wax, a leader whose really energy efficient and we decided we were going to come up with 100 different nft's more than 100, for the new spiderman "no way home" movie. we announced it yesterday at noon, and it's like we broke the internet. i tweeted it yesterday, my tweet s, in the last 24 hours, have been read 3.5 million times the traffic we had to our website and mobile app last night were the highest that amc has ever seen in our entire history. we saw move tickets and overnight shifts than we've ever sold, you know, overnight shift before and i mean, we're talking massive surges above normal, but what i'm really proud of is to tell you that our website never crashed. liz: okay, but it was very slow. >> it was slow, but it didn't
crash. it did functional the way through, wait times were long about an hour and a half, but people got through, the whole way through, and like we've sold , look it's sony's movie for them to tell you the numbers not me but i'll just tell you we sold boatloads and boatloads and boatloads of tickets, i am sure this is the biggest movie of the year, and it's highly anticipated and if you're an amc guest, you might be one of those lucky ones who got one of the 86,000 of our spiderman "no way home" nft's that we launched for ticket buyers last night. liz: okay so you didn't crash but can we split the 2% difference on where i was wrong, because i was seeing from a lot of people on twitter, that they were getting error messages once they spent the $45 on the tickets that they had bought will they eventually get an nft if they were in line, fairly enough, and manage when one was
available? >> yeah, we should be able to make that happen i'm not worried about that, but as i said, literally, it's a huge group of tickets that we sold. the 86,000 nft's were just for members of our vip programs, amc stubs premier and amc investor connect. we sold far more than that last night because the demand is not just coming from people in our vp i groups, but the demand for this movie is going to be huge. liz: you're saying you've never sold this many tickets upon a release overnight on the website , ever. so this is a record breaker so far? >> yes, it was. avengers end game was a daytime release so at some point during the day, i think avengers end game would pass spiderman "no way home" but it's really close,
and the point is, it's a really big movie, it's going to be a really big movie and we sold a tremendous amount of tickets. the interest in the amc nft is off the charts. the interest in the movie is off the charts, and you know, this is part of a trend that's been going on since last february. if you look at the visitation to amc movie theaters was much larger in the second quarter than it was in the first quarter , much larger in the third quarter than it was in the second quarter, the fourth quarter is not over yet, but october was huge, and we did say on our last earnings call that we expected the fourth quarter to be bigger than the third quarter. if you look at the flood of movies that are going to be in our theaters in december, just the thanksgiving movies ghost busters afterlife, will still be around, three huge new movies released in a couple weeks, spiderman no way home of course, and there are some really interesting sequals and
remakes like the third kings man movie, -- liz: but adam, this idea -- >> just if i could squeeze two more in we also saw original movies like american under dog which is the kurt warner story famous nfl quarterback who came from nowhere to be super bowl mvp and maybe my favorite of them all, because it's written and directed by aaron so rkin, but more importantly it stars our very own nicole kidman, of the amc television commercials and there are going to be a lot of great movies coming into our theaters. liz: adam, they're going to cut me off but i want to quickly ask you've had so many great ideas this is almost like the happy meal digital version of the toys with in conjunction with movies but any other ideas, any plans on say a digital dividend or anything like that? any other ideas? >> well, we can't issue a
dividend until well into 2022 so all dividend decisions are for another day, not for now but we have a lot of ideas, crypto is one, nft is another, you know we announced a big expansion of our business to go into the $6 billion popcorn independent and we're working on an array of other ideas which if we can make them happen to grow our sale-to-value you'll be hear ing more about them in 2022. liz: please join us again adam aron in a fox business exclusive , charlie breaks it, next. your record label is taking off. but so is your sound engineer. 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
liz: as you just heard, we just spoke to amc ceo adam aron about his new idea with sony to use non-fungible tokens to boost ticket sales for the new spiderman moving coming out mid- december. he has other ideas to broaden the business especially a crowned cryptocurrency, but they did break records on overnight ticket sales and website traffic here to react to all of this charlie gasparino. charlie: well, overnight ticket
sales on the web. liz: did i say anything different? charlie: i'm just saying, it was not a great weekend for ticket sales. liz: for all of the theaters. charlie: it was horrible, and we could just say this investors are pretty unimpressed by what's going on you know that because after this big announcement, stock is down 3%, this is the second straight day, usually gets some buying volume from, even from the apes, the online community dedicated to this stock gets something and we're not getting that. now it's off its lows, yes but still it's two straight days i'll say this , short interest continues to decline on this stock. it's going to streaming is here to stay, it's not going away. omicron, i know people didn't go to the movies maybe because of omicron but you went to a hockey game that was packed. liz: uh-huh. madison square garden. charlie: i'm telling you, yeah, at the garden, so there's something else here. this is a company that faces tremendous headwinds including the fact they have high levels of debt, have to pay rent on
back rent i believe on some of their theaters, and again, people aren't going to the movie s like they did in 2019 for a lot of reasons and it's not just covid. put all that together, and listen i give the guy kudos he's pulling every trick out of his hat. i mean you know, nft's, taking dogecoin, you name it, selling popcorn at malls, but in the end , the numbers don't lie and this is a dangerous bet. if you're in it for the long long-haul, my view, he kind of side-stepped it. his digital dividend, right? liz: all dividend discussions will kick into 2022. charlie: so not now and it sounds like he doesn't want to do it but barring that, this thing ain't smart squeezing anytime soon, and if you bought it, if you bought it at 70 you'll be stuck at these levels for a while. liz: it's still up about 653%.
charlie: it is but how many people got in that and traded in and out? you know? liz: always a risk in the stock market. charlie, thank you. charlie: more than a risk, a money-losing company. liz: charlie gasparino, all right, we are coming right back, new warnings that russia is planning a coo in ukraine and there are signs russia has been preparing another invasion across the ukrainian border, all of the new coronavirus variant hits the world stage. the man known as putin's banker, andre costa is here next in a fox business exclusive we'll talk to him about the breaking headlines you can not miss what he has to say about a possible russian invasion of ukraine. closing bell ringing in 30 minutes, the dow still up 300, nasdaq up 318 we're coming right back. i'm searching for info on options trading, and look, it feels like i'm just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center.
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liz: researchers around the world are rushing to develop nation all spray forms of the covid vaccine particularly given that the lining of the nose has been identified as a key entry point for the virus. russia says it has succeeded in developing one, and even though it still needs to go through trials, president vladimir putin announced wednesday, he just took a dose of it. the battle against the corona virus not the only issue putting the pressure on the russian economy. there are also rumors of a possible invasion of ukraine and a russian-backed coo of its neighboring country who better to talk about it the man known as putin's banker, andre costen. andre, thank you so much for joining us, and i know you've got this conference where you're going to be discussing many many different things, including esg and of course green investing and there are other issues with the economy, with this new variant.
i want to start with the omicron new variant scaring a lot of people. considering, andre, that the russian healthcare sector will be i'm sure a major topic at your conference. >> russia was one of the first countries to invent the vaccine successfully introduced in russia and also in other countries, and of course, we are not very happy that what we see in the world is competition between the states and i think we should actually find the solution for these, because now we've got the new variant of covid and nobody knows much about this. we don't know whether the existing vaccines are working or will be working or not, it's a big issue, and how bad these new ones are so i
think that it's a lot to do about this , and this new, of course it's good, because we still have quite a substantial resistance on part of the people , where vaccination can maybe help because in russia , only, well half of the population is being vaccinated, and luckily, we now look like we passed the new peak of diseases, and it went down from 40,000 today to 33,000 , but it's still quite a big number, but the russian health system is coping with this. as far as the medicine sector, i think it's a very promising. we have a lot of now interest on part of the investors and i expect that within the next year or so, we might see a number of acquisition deals in this area and it's very very fast-growing but many investors look very bullish on this market and i think that it's right. it's right, because there's many
many people, ready to pay, for a good medical service, and we have a big area of non- government medical sector, which is growing very very fast. liz: what do you say about russian researchers in this research area of covid and developing vaccines? you know the world health organization has approved eight different vaccines from different countries, but not yet the sputnik 5. what do you think is behind that >> we have a phase iii well- known center developing different ones and they are all used in russia but of course sputnik is most common and popular. i don't know why there's policies behind this , and because of sputnik was one of the first vaccines to be introduced to the market, and its proved efficiency if you just, we vaccinated half of the russian population, you know
and it really works. liz: but you have certainly talked about cooperation global ly and you feel very strongly about that when it comes to covid vaccine development. on to the most pressing issues that you and your conference will be focusing upon and we've gotta talk certainly about the fact that in your invitation it stresses esg investing and green investing, considering that russia's biggest export is petroleum products, how do you square with that when it comes to pivoting to more green opportunities in the energy sector and away from your biggest export? >> i think we should really come to the general conclusion, with other nations, what is green, what is not green. for example, we consider that the gas we supply to europe is five and a half times better from the point of view of carbon
footprint, than for example, american lng supply to europe and we consider gas together with the nuclear energy, is quite safe and could be considered as green, so we think that the carbon itself has a future, particularly gas, and it's not necessarily, it's much better than coal, for example. what we see now in europe that europe decided to rely too much on renewable energy and they miss calculated, they had to switch back to coal now days, because it will prove to be not enough for europe for example, so i think we should really be very cautious in actually trying to make it too quickly, transition to the non-carbon energy, and as i said, we
believe that russia today, 85% of our russian energy has come from solar wind, natural gas, nuclear and hydropower which we feel is critical as a green power. liz: andrey, i have to talk about the stock market in russia , the moex, which of course is the moscow exchange, up until mid-october had an incredible three months same with the rts, which is de nominated in u.s. dollars, that russian stock index but suddenly, things have gone completely south. looking last week down 11% the rts was down 16.6% and the fact is that international investors have gotten very anxious and nervous about the political back drop that's going on in russia. there are reports of 90-100,000 russian soldiers on the border of ukraine and international investors, it's just a fact, they want to stay away at the moment. what is going on there?
is russia planning on invading ukraine? i know you aren't in the military but you've gotta tell me it doesn't look good and international wants nothing to do with it at the moment. >> [laughter] you know, it's the same kind of truth that the american is planning invasion into mexico or maybe canada. i think there's a similar kind of news, yeah, i agree with you that politics together with covid, i mean, we got half of the growth of our stock market this year, starting from the end of october because of the two news is the fake news of course that russia is trying to invade ukraine, which i think for us is completely nonsense. liz: okay, but wait, wait, let me tackle that part first. satellite pictures show a mass movement of russian troops on to the border. why is that fake news? >> because i'm not working for
the general staff, but you know, we have, look, we have american battleships in the russian black sea and 25 maybe kilometers away from the russian border and that means that america will be attacking russia soon. thousands of miles away from america in the black sea, american ships and russia is moving, some people say they are moving to closer to russia than ukraine because they are neighboring countries but russia , is rushing moving troops within the territory of russia i don't think we pose a threat to anybody. we're not roaming in the caribbean seas, and i don't believe that people can believe in russia, that sounds like complete rubbish, nonsense that russia will attack ukraine and i can have a bet with you, that
when we speak to you next time, maybe, in a couple of months you'll see that all these news were fake news and i'm absolutely sure about this. there's no intention of russia to continue troops on territory of ukraine, but whether russia puts all the troops on the russian territory, i think i was right. that's my opinion. we're not sailing miles away from our coast, so that's the first news. the second news of course is the new covid so with the news brought the market down, and brought down by 70% so it just shows how much the stock market today depends on politics and depends on the covid rather than informants of the company. because the economic situation in russia is very good this year , you know, we have a growth of around 4.5% and all the major companies because we are actually, we are russian
sector have the best year today, all the profits are up, the profits of russian commodities all around the world are up, the russian companies are very good and very good profits and they're paying a lot of interest on dividends and in russia we're paying on average 9 % of the dividends, so the prices should go up and they were going up. liz: andrey, good luck with the conference. thank you very much, liz. liz: i'm good on the bet i'm shaking, reaching out and i'm shaking your hand on this bet about whether there will be an invasion in ukraine. we shall see. >> no, best bet, yes. liz: thank you very much. >> bye-bye. liz: hundred thousand troops on the border okay we shall see. i took the side opposite of him. president biden meeting today with some of the nations top retail ceo's as the white house works to straighten out the
supply chains before the holidays. the clock of course is ticking down we're going to take you straight to the white house for a live report on what was accomplished and what was decided. 14 minutes before the closing bell rings, the dow still up 269 , we do have the s&p up 67, nice moves for the nasdaq as well. we are coming right back. i promise - as an independent advisor - to put the financial well-being of you and your family first. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com
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liz: all right we have this breaking news, president biden is in the middle of a cyber monday meeting at this hour with the ceo's of major u.s. retailers, from walmart to best buy and more, and they are addressing which measures his administration is taking to break supply chain log jams and keep prices down amid rising inflation, ahead of that meeting walmart ceo doug mc
millan said the retail giant has seen a 26% increase in shipping containers going through clogged u.s. ports over just the past four weeks. now with the omicron variant now casting a pretty dark shadow over the holiday season how might this unexpected change in pandemic recovery impact consumers? to edward lawrence whose live at the white house, waiting as the drips of the headlines come out of the meeting. reporter: in fact, the president canceled his comments about this meeting because he wanted to spend more time with the ceo 's and they're still continuing. most of those ceo's are here in- person, we have a list of the number of companies here look at this list, ceo of best buy, samsung, mattel, etsy, kroger and in the meeting the president of food lion says that their supply chain has been robust. >> we started with an immense amount of planning to be ready for the business and for customers to be able to buy
what they need at our stores and we worked very early with our vendor partners to get clear on our forecast for the business. reporter: she said they worked hard with their vendors to plan ahead and get clear forecasts. now, it has taken time to get the bipartisan infrastructure money out and working. that'll likely be next year sometime. the president, though, still trying to say he can grow the economy. >> early estimates are that black friday sales were up nearly a third since last year, and in-store sales were up by nearly even more than that. reporter: and he's talking about how sales were up, now in my exclusive interview on friday , he said he was hearing over the summer from retailers that they believe the supply chain issue should be worked out by the end of this year. well now listen to what he says. >> today when i ask them, they say well, looks more like the middle of 2022 maybe even into the third or fourth quarter, they just aren't sure,
so this is something i'll continue to look at closely, and monitor carefully because the longer this goes on, the longer we're likely to have elevated inflation, and the sooner we may need to act. reporter: now he's talking about their rate hikes, he sees possibly two rate hikes next year. now in retail, bosnick tells me he believes the fourth quarter gdp the economy will grow faster than it did in the third quarter partly because of the spending we're seeing right now. liz? liz: yup, you know, we just talked to andre kostin and their russian central banker has already started raising rates because they have an inflation issue too, edward so clearly, if raphael bosnick is concerned and some of the other central bank chiefs are worried, clearly, what's your best guess on when we see that first rate increase? reporter: first they have to get done with the tapering and he would like to see the taper move faster and it's important because bosnick is a voting member so his vote will help set
this policy. he wants to see the tapering done by maybe march of next year which is exactly what st. louis fed president had said once they get that out of the way it opens the door for a possible rate hike, you know, if they see inflation keep going the direction it is, you could see the first rate hike maybe late summer. liz: good interviews there, thank you very much, edward lawrence, we are coming right back, it is a pretty decent rally here today, not enough to erase the losses from friday, but scratching back at the moment the dow up 255. ♪♪ this... is the planning effect. this is how it feels to know you have a wealth plan that covers everything that's important to you. this is what it's like to have a dedicated fidelity advisor looking at your full financial picture. making sure you have the right balance of risk and reward. and helping you plan for future generations.
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aren't the usual names a lot of people look at when they think about extra terestrial names. >> no, they're all spacs and i don't know about the valuations being down to earth but the prices are for the retail trader. first one is dmy technology group 4. it's one of the king of spacs and this one going into this friday, december 3, there will be a shareholder vote on whether to merge with planet labs. planet labs, as you might know, is the brain behind google maps, google earth, so this thing, this deal will raise about $600 million. it is a $250 million pipe led by google, by time venture and by blackrock, so its got a lot of good money behind it. they already have revenues looking for revenues of about 113 million and they expect to be profitable on an adjusted basis by 2025 that's my favorite
stock. another one is red wire. red wire rdw, down a little bit, its been kind of weak, they had a little bit of an accounting problem. now they found it hem selves, they reported they had a problem and had to delay earnings, that's why the stock has been a little weak, they can have revenue over 150 million for this year and 230 million next year, this is a stock that's a space infrastructure company first of all, they work with blue origin, nasa, they work with all of the space companies, it's an up and comer they don't really have competition. i think this is a name on this dip because of the accounting issue it's a buy and i've been buying it. liz: before you get to your third, you know, you're looking at red wire and your second pick , your first pick, rather, to me, it looks like it had seen such an incredible run-up and i like the mark bennioff pont because he's a pretty darn good investor is he not? >> oh, yeah and the coke brothers. there's real money behind this , real guys who know how to manage money, guys and gals who know
how to manage money. red wire is a buy on any kind of dip down below $10 and as i said , in fact the first name dmy q, i added to that name today moments before we got on the air. liz: really quick, because i want to ask you about the markets overall and the price action. >> all right it's a quantum computing company, they use trapped ion quantum technology to design solutions for complex problems to transport businesses all right? it's too smart for me. what they have is $587 million in cash and about $4 million in debt so they have a current ratio of about 54.0 which if you know how to do accounting 2.0 is awesome so they don't have a lot of money or business yet, they do have, but they have an excellent balance sheet. liz: real quick we're running out of time but intraday we have not erased friday's losses what do you think about what happens tomorrow? >> i don't really think we can
erase those losses just yet. yes, we heard the right things from the president but we don't know really anything solid about this new variant. maybe a week to two weeks. >> closing bell ringing] >> the governor of new york seems to disagree. liz: biden says no lockdowns for now. markets close higher to start the week that will do it for the "clayman countdown." kudlow is next. larry: hello, everyone. welcome to kudlow, i'm larry kudlow and happy monday. of course everyone is still talking about the omicron variant and in just a few moment s, we will be joined by admiral brett jirrard, former hh s assistant secretary for health during the trump adminitration. a lot of unknowns and brett will help us go through them. two pieces of good news here though at the beginning of the story at least in the early stages of omicron, first a