Skip to main content

tv   The Claman Countdown  FOX Business  October 16, 2020 3:00pm-4:00pm EDT

3:00 pm
that closely, i gotta admit my worst area of investing is biotech, i do not understand them i wish i did it because graham slams have been made. we are starting to be pickup momentum not unusual as we head into liz claman, you can cap off a pretty intriguing week. liz: how about this, this is why we love doing what we do. never a dull moment. and we got friday fun right here. the rally continuing to gel as we head into the final hour of trade the 2020 candidates back out on the campaign trail right now after last night's head-to-head town hall meeting. the president in florida pitching his message to seniors and joe biden to speak in michigan about healthcare. with 18 days left until election day, a firestorm swirling around accusations facebook and twitter interfere by preventing the
3:01 pm
spread of but potentially damaging article involving joe biden son, did social media giants just hand the government razor wire to wrap them in regulation, we will look at the stocks, both political and financial, our panel of experts from the field of politics in emerging technology is here to debate this issues to the latest election year. the company you have never heard of that is working on whipping up an antibody cocktail to try to keep you safe from covid, the ceo immuno professor is here in this box business exclusive. how close is she on this, hopes and setback in the bigger race to covid vaccine and therapies, the nasdaq is still looking to make it four weeks in a row of gains, it's up 61 points in the s&p up 23 and the dow charging ahead by 273, the market you're a fox business alert, we now
3:02 pm
have the early ratings from last night's dueling townhall, democratic nominee joe biden gets the edge, the abc appearance pulled in 12.3 million viewers from 9 - 10:00 p.m. eastern on abc wall 10.4 million watched president trump on nbc during that exact time period. it is social media on the names at this hour, news breaking this afternoon that the republican national committee has filed a complaint with the federal election committee accusing twitter of sensory and new york's post on joe biden son, bombshell new york post report on tuesday and focused on his alleged influence peddling while working for eight ukrainian firm during his father's vice presidency. how will all of this affect the election and in facebook and twitter just open the door to the government, the government that has been banging on a door to get a federal crackdown on social media stock, we are joined by emerging technology
3:03 pm
doctor matthew, who is also written, brian gardner, policy strategist and democratic strategist richard goodstein. matthew to you first, then we'll get to the stocks, twitter prevented users from re-tweeting the article, that is just the fact, they've since reversed that, now does it give the government the sharpest weapon until now to attack them with. >> once again it was completely legal and within the scope relevant, now how does the governor respond to this remains to be seen, is certainly true to say the left and the right have their own complaints about social media these days but i don't see giving the current environment the left and right to come together to agree on a cohesive legislative package, the fact is although many people have been talking about section
3:04 pm
230 of the communications act, even with significant reform it looks clear to me that the first amendment does allow private companies to moderate content which is what happened here, of course people can criticize the decision and wish that facebook and twitter did not do this but it seems to be a decision that is safely within the law. liz: yes, twitter is a public company but it does certainly not pass the smell test when what they allow about certain candidates and what they don't allow to be shared with other candidates, if you could focus on why they did not, they claim they did not because there was actual e-mails and their but they did not prevent the new york times article from being spread that focused on leaked documents of president trump's tax documents, correct where is the difference.
3:05 pm
>> there is a difference, the policy prohibits the linking of material that reviews e-mails and phone numbers and addresses, those kind of things, if you go to the new york post article, you will see that personal information was revealed, if you go to the new york times article on trump's tax returns which were obtained, none of that personal information is revealed, maybe twitter should revise the policy and maybe it should be different, i do think there is a difference there, this is not the first time this time of thing is happening, earlier twitter prevented private information about police officers being leaked in a similar incident. liz: nobody complained about that when they prevented the sharing of that information. to brian, twitter is barely down, facebook is hardly up, it does not appear to be hurting these companies right now but what you foresee for the future because we now have senate republicans saying they're subpoenaing jack dorsey of twitter, they want to hear from
3:06 pm
them. >> i think it is interesting, in some ways twitter actually gave a contribution incline to republicans in the president's campaign, it had been a tough couple of weeks for republicans and the way that it was handled in twitter, was it legal, what the policy should be, whatever, the way that they handled it enrages conservatives, at a time when the president is trying to get his footing back and get back into the race, this helps him because it highlights one of his grievances against the establishment that is a double standard and there are a lot of voters out there who may not unlike the president's behavior on a whole host of issues but when this comes up, they feel sympathy for the president. , bacterial question, what happens going forward, very little income i think there's going to be a lot of talk, it's great political talking points for both sides when you get into the regulation of social media,
3:07 pm
what's the endgame, how does this play out in the end, i don't think there's a lot of policy changes in the future. liz: richard goodstein, what is worse, social media interference or government interference? >> i don't think donald trump has much standing to complain about twitter which he has used recently to say bin laden was not killed, to say the dnc, yes indeed is made up of cannibals and pedophiles in donald trump is the savior, he has used twitter and facebook and the russians use facebook in 2016 and if twitter and facebook now have a little bit of concept and say we are done being used by our foreign adversaries, it is kinda hard to complain on moral grounds and certainly not legal grounds as we just heard, this is not government action and
3:08 pm
republicans used to say keep your hands off of private enterprise. so i think in this case, donald trump hands are not exactly clean. that is all. to say that somehow twitter is abusing him is ridiculous. liz: matthew, to that point, these are private companies, their publicly traded, their private companies but facebook can act like it's not a news outlet as much as it wants but there are huge number of americans who now get their news from facebook, don't we start to see a blurring of the lines and on twitter and facebook to not look like they are so partisan at a certain point, you have to look at that, do you not? >> i think the conversation has highlighted to the two ends of the political spectrum operating in different universe, it will come to news that facebook has been harmful to conservatives,
3:09 pm
the data ought to do well on facebook, i don't think there's any blurring of the lines but i do think the leadership of facebook and twitter are considering the facts that are in the crosshairs in the very upset about this and not content moderation. the fact is as long as their private companies are allowed to associate with whatever content that they want, this does not come up in the election the whole year with covid reveals the content moderation, and my happy to have private failure than government failure, urgently twitter and other available avenues out there. liz: brianne, for our investor audience, what are you advising when you clean the headlines out of washington, d.c. about the future for social media and their ability to grow. >> i think there's two prongs that investors should look at, the one is the regulation of content like we have discussed at the last few minutes.
3:10 pm
again, i think prospects or major changes on that are low, i think any changes that will be made -- >> yes section 230 rules will probably be at the margins and not be substantial at the headlines today suggest. the other side is, antitrust, this goes beyond just the social media companies, this is taking oriented more broadly. should the vice president biden win and democrat sweep the senate, especially with the senate run by the democrats and what you're seeing coming out of the house, with house democrats, i do think you will see more of a focus on revisiting of the antitrust rules as it applies to big tech, i'm speaking more broadly than social media. i think we are in the early stages of that discussion and i don't think there's a consensus on how the rule should be
3:11 pm
changing because it would involve a total rethink of antitrust rules as they have governed the united states for the last 40 years, but the conversations are starting to perk up. my advice, not yet, pay attention but to the headlines into development in washington but in terms of policy changes it will move stocks and change the fundamentals of the business model, it is early innings. liz: richard, twitter is the tool for both sides of the aisle to get messages instantaneously out, does any of this change going forward. >> no, what might change is not just the antitrust examination but again in a free market competitors do have a way of somehow manifesting themselves, as far as the campaign is concerned, absolutely not, what happened here donald trump was
3:12 pm
advised by his national security advisor last year that the russians were using rudy giuliani to promote this information to the united states. that's exactly what happened, why do you think they had to go to the new york post, the classiest rag they could find to put this out and again, twitter said. liz: hey. >> the classiest paper we will not be a party if you don't mind and now they have the excuse of personal information, you cannot really blame facebook and twitter for not wanting to be an ally of the russians. liz: let me just tell you the fbi is looking into it and has been for many months, we don't know yet about russians lack thereof and all that detail, matthew brian, richard, thank you very much for joining us for
3:13 pm
the discussion, it is business and politics intercepting in real time, we have a fox business alert on the favorite stock on the robinhood investor crowd, bankrupt car rental agency hurts, they secured debtor-in-possession financing totaling $1.65 billion, the stock is jumping 160% right now, dip financing enables firms in chapter 11 to continue operations which is exactly what hertz plans to do. ps hertz was a $20 stock, today it is $2.69. chew on this, online pet products truly jeffries raised it to a buy, the popularity of pet adoption by millennial's is driving to ease growth model, to a jumpy board half percent, hello fresh jumping after the meal kit raise full-year
3:14 pm
guidance to massive demand in the third quarter, how massive, hello fresh says expected earnings from the third quarter could hit a median of $130 million, just a year ago hello fresh pulled in $15 million. so that stock is jumping 7.5% the news is casting a green glow on blue apron morgan stanley price target cut, blue apron is up 1%. not a lazy day for recreational vehicle maker investors jumping aboard after the rv maker scrapped plans for share offering, the stock is up 21%, they see the offering price did not reflect the underlying value of the company, the stock has shut up 280% this year propelled by the craze for outdoor activities during the pandemic lockdowns. from rvs to camping out at home, lows and home depot are added the green, they are reflected in
3:15 pm
today's retail sales figures, we have hd up 1.6% i'm sorry lows is up 1.6% in hd up half 8%, can the shopping carry-on with first-time jobless claims picking back up and stimulus in the air, the show is gearing up, our traders at the ready, the closing bell ringing and 45 minutes. we are coming right back. ♪ re-entering data that employees could enter themselves? that's why i get up in the morning! i have a secret method for remembering all my hr passwords.
3:16 pm
my boss doesn't remember approving my time off. let's just... find that email. the old way of doing business slows everyone down. with paycom, employees enter and manage their own hr data in one easy-to-use software. visit for a free demo.
3:17 pm
3:18 pm
3:19 pm
liz: the markets are climbing all of credit cards and shoppi shopping. look at the rally, if you are driving, if you love the exim serious listeners on channel 113 retail sales posted major gains set september, the dow is up 24 points, the nasdaq, month over month, spiked 1.9%, the estimate, x auto was 1.5% but
3:20 pm
the top line number was an expectation of just seven tenths of 8%, a very nice move, very nice move, this was the fifth straight month of retail sales growth on top of that we did get you the university of michigan and neutral consumer sentiment report seen a boost under a point but we are looking at a slightly at the top of the show gelling data that starts to look good, however, we did not get to this yesterday but first-time jobless claims kind of stagnating moving higher. while the retail picture looks very, very strong and they point to you, the consumer preparing for more time and spending money on sporting goods and improvement items on furniture, what does it mean for holiday sales and could we see stagnation or continued rise to the floor show traders. welcome scott and welcome phil, this is certainly good news, is
3:21 pm
it not? >> it is, funny thing it doesn't fit the narrative, we've heard a lot of negativity in the marketplace, concerns obviously about not getting the stimulus, worried about covid but i'll tell you if you look at both the retail sales in the consumer confidence, that is telling a different story, it might be that something we can look to the presidential polls as well because generally people vote their pocketbook and were seen strong retail sales and consumer confidence, that may give them a change going, let's face it, the jobless claims are concerned, there is no doubt it would help to get the extra stimulus package and get us through the hump but the fourth quarter should be absolutely incredible, we should see a really strong comeback in the economy, that is what the stock market is saying
3:22 pm
i'm very optimistic going into the holiday season. i can't wait to get it started. liz: we did the initial jobless claims, they came in at 898,000, hotter than expected, more people first-time joining the jobless roles in filing for claims, by the way it is about 2000 away from the highest level since august. again peaked at 7 million back in march but scott, are you looking to invest or at least advise, what are you seeing as far as concerns for the investors trying to balance what they see with the labor market slowing down and what they see with people still continuing to spend money and are there opportunities? >> hi liz, when you take a look, look at the xrt which is a spider on the retail etf, that has been going gangbusters, setting new highs, that is based on the retail, not all the retail stores are participating
3:23 pm
but there are enough big ones that are doing it, pushing that up and that is a sign that the consumer is out there spending, another place where that is helping, look at the truckers, it's driving the dow jones transportation average to new highs, again the goods have to be shifted to the stores, people are buying, stores or reordering, it's a very strong time for the consumer and while the representative, people are hurting and there's a lot of people who have cash and willing to spend it but they're not buying clothing to go to parties or anything there fixing up their homes, buying luxury goods, that is what they're doing. liz: can i say i bought a full length gown which is the stupidest thing on planet earth to do but when my going to gala,
3:24 pm
it is cheap it was on sale, i'll be prancing around my house in this ridiculous gown, it was really, really cheap. i was like marchesa, i am in. have a great friday and have a good weekend. we appreciate you being here. have you guys watched boeing, it is pushing to the max so to speak, top aviation regulator saying the 737 max jack is safe to return to the sky and could grab a directive listing grounding orders as early as next month, still down 48%, boeing airlines is a big winner on the dow, up 2.6%. back on the ground, one covid vaccine partnership moving closer to a regulatory comes up, akiko the cocktail therapy has gotten dinged by the world health organization, the covid cocktail hunter who has worked with the biggest names in pharma
3:25 pm
is here to hash out the hard truth about how close or how far we are to success. the closing bell ringing in 36 minutes the dow is up 195. "the claman countdown" returns in a moment. do not go away. ♪ (vo) i'm a verizon engineer and today, we're turning on 5g across the country. with the coverage of 5g nationwide.
3:26 pm
and, in more and more cities, the unprecedented performance of ultra wideband. the fastest 5g in the world. it will change your phone and how businesses do everything. i'm proud, because we didn't build it the easy way, we built it right. this is the 5g america's been waiting for. only from verizon. now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty.
3:27 pm
go from old to new. from worn to wow. the beautiful bath you've always wanted, done right, installed by one expert technician, all in one day. we've been creating moments like these for 35 years, and we're here to help you get started. book your free virtual or in-home design consultation today. but when i started seeing things, i didn't know what was happening... so i kept it in. he started believing things that weren't true.
3:28 pm
i knew something was wrong... but i didn't say a word. during the course of their disease around 50% of people with parkinson's may experience hallucinations or delusions. but now, doctors are prescribing nuplazid. the only fda approved medicine... proven to significantly reduce hallucinations and delusions related to parkinson's. don't take nuplazid if you are allergic to its ingredients. nuplazid can increase the risk of death in elderly people with dementia-related psychosis and is not for treating symptoms unrelated to parkinson's disease. nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. tell your doctor about any changes in medicines you're taking. the most common side effects are swelling of the arms and legs and confusion. we spoke up and it made all the difference. ask your parkinson's specialist about nuplazid.
3:29 pm
liz: is uber ready to fly away from the flying taxi business, remember i revealed this thing at the consumer electronics show in january, this thing was nuts, uber and hun day teamed up on the high-tech flying taxis and we got this up close and personal look at them in las vegas. it was the biggest attraction, they are reporting the ride hailing giant may put the uber ridesharing unit on the strategic chopping block, and might be a feel of the unit, the perspective move comes as uber plowed towards profitability.
3:30 pm
he would very much like to see that, he made the promise and working toward it, over technology down 1.3%. from high-tech taxis to elon musk's electric vehicle empire, first a price cut on the model s and now ashley webster what we have, tesla news on something else. >> we do, all sorts of goodies, tesla refreshing its model, the so-called affordable ev symbian coming with improved performance, new wheels, power trump, you think they would have one of those, for the long-range variance atop capacity 353 miles per hour charge, tesla boosting the model s long-range model which can go for an estimated 37371 miles, why wait until mony to merge, first citizens bank find commercial and a 2.2 billion dollars all-star field creating the country's 19th largest bank both companies as
3:31 pm
you can see surgery and for the day, morgan stanley boosting its price target on netflix to $630 ahead of the streaming giants quarterly report that comes next week the digital home of adam sandler's movie getting the bullish nod on its pricing power. netflix one of the pandemics big thing watching winners for sure, could a treatment or vaccine bring people back to the real world is a question many people are asking, liz will talk to the experts that's being kept from the pharma and biotech's biggest names next. knowing we're prepared for tomorrow. wow, do you think you overdid it maybe? overdid what? well planned, well invested, well protected. voya. be confident to and through retirement. the rx crafted by lexus.
3:32 pm
lease the 2020 rx350 for $409 a month for 36 months. experience amazing at your lexus dealer.
3:33 pm
3:34 pm
3:35 pm
lease the 2020 rx350 for $409 aadapting. innovating. lsetting the course. but new ways of working demand a new type of network. one that's more than just fast. you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business.
3:36 pm
liz: we need to look at pfizer stock right now, at this hour is getting a bump your on news that it may file for emergency use approval for the covid-19 vaccine as early as next month, it is up 4%, the vaccine which is developing with german partner biontech which is moving higher is awaiting safety data which will apparently come out in november as well, gilead is taken a hit after the world health organization said it's not that much of a hit, down one and a quarter percent, the key antiviral drug remdesivir does not prevent covid deaths, and other words it has little or no impact on a patient surviving covid-19 it's the same drug president trump was given during his coronavirus battle in this all pharma hands on deck to find vaccines, enter immuno precise,
3:37 pm
this is a company that specializes in developing antibody treatments is working on creating its own antibody cocktail for covid, the therapy which if everything works well fights all mutation of the virus, ceo jennifer, helming the effort, jennifer joins us live, where do you and the company stand with us when and how does one begin to develop a therapy that neutralizes all strains of this still barely understood virus. >> great question, i will start with where we needed to start to do this, this was our goal from the beginning in january when we understood sars covid to had been an issue and will likely become a pandemic, one thing that we focused on understanding it was an rna virus and likely something to be with us for a while and rna viruses have the tendency to a change in mutate over time since one of the ways they escape the immune system of
3:38 pm
humans and echo evolutionary battle and what we set out to do first and foremost to develop a cocktail therapy the most comprehensive program to tackle this knowing that we would need literally thousands and thousands of inner bodies to get to the point to generate effective cocktails to fight this virus. one of the reasons for doing that for the cocktail therapies is because it is widely known when you're working with an rna virus and you can expect the mutations to occur, the cocktail therapies really have a much better chance of protecting or treating, either one protecting or treating against multiple strains or variance of the virus as it does continue to mutate and change over time.
3:39 pm
liz: in some cases there are hundreds of mutations, can you give us an example where this therapy that you have in the past has actually worked to be more of a shotgun differen versa single bullet against the virus. >> absolutely, a great example, this is perfect timing with a bullet when we were really struggling with ebola a number of years back, the first antibody that went into use was a single monotherapy antibody in the second when they came around was to antibodies and eventually a try antibody cocktail was produced that was aiming specifically at the same exact purpose, reducing the ability of the virus to escape these therapies as they are put forward, two days ago the fda approved three antibody cocktail against ebola. liz: that is great news and we
3:40 pm
know we wrapped her arms in some cases around people as still occasionally we have outbreaks. i want to get to the gilead story in the world health organization regarding remdesivir. who is wrong, i know you don't know the inside details but gilead says the w.h.o. is incorrect, president trump has spoken of the various effects that he felt after he got remdesivir and regeneron, what is the assessment when the w.h.o. says there is a study that doesn't really save people from covid deaths. >> that's a very good question, with respect to the evidence of what we've seen come out based on the remdesivir study which is aiming to block the virus from replicating is the biggest impact and statistically impact
3:41 pm
that reduce the hospitalization of the patient in this day of hospitalization for the patient that had received the experimental drug, remdesivir is something that has been around for a while and well understood but it has had conflicting data out of clinical trials, really the biggest in point that was touted and showed clinical significance was a reduction of about five days for those who received remdesivir versus the control placebo group, there was a minor reduction in mortality rate, i did not actually see statistics offered for that, the general conclusion brought forward that it was not statistically reduction in mortality. liz: not only are you a scientific expert, you were of course in the netflix documentary about pandemics but you were a businesswoman because this is a company that is headquartered in canada, it is a small-cap but i was looking at your financials, it appears to be a couple of million in cash on the books, don't you need
3:42 pm
more money and how are you going to plow ahead without the liquid capital or a bigger pile of it? >> that's a great question, you are right, we bring in $15 million canadian and revenue and most of that is based on us producing these antibodies for the world's largest pharmaceutical company, we do exactly what were doing here for them and the company has been doing that for 35 years but it's really began to pick up momentum in the last two years and we have some around 9 million in cash and what we really focus on, we're an very active communication with the u.s. government and canadian government pertaining to the advancement that we begin to get closer and closer to clinical trials and another thing that is really been interesting for us over the last couple of months is numerous collaborations coming together as we look at
3:43 pm
different formulations and different types of format antibody and collaborations around the formulation manufacturing and potential commercialization, there are definitely companies that are interestingly coming on board as sponsors and partners. liz: we like to say at fox business, it's not the size of the dog in the fight is the size of the fight in the dog. good luck to you and your team. we appreciate it. >> immuno precise is the company, d.c. lashing out at social media, why aren't industry insiders running scared, charlie breaks it until next in the tech founder that is whether somebody storms that you cannot believe, if you've ever felt like giving up, you gotta listen to this one, my latest episode of everyone talks to lose podcast, rob survives
3:44 pm explosion from $8 to 7 cents then he went to the financial crisis, now he's facing a pandemic and still going strong, how he fought against multiple odds, it is really inspirational, i needed to listen to it, we'll be right back. before money, people traded goods. tools, cattle, grain, even shells represented value. then currency came along. they made it out of copper, gold, silver, wampum. soon people decided to put all that value
3:45 pm
into a piece of paper, then proceeded to wave goodbye to value, printing unlimited amounts of money as they passed the buck to the future. that's why it's time for digital currency and your investment in the grayscale funds. go digital. go grayscale. 100% online car buying. carvana's had a lot of firsts. car vending machines. and now, putting you in control of your financing. at carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. and these aren't made-up numbers. it's what you'll really pay, right down to the penny. whether you're shopping or just looking. it only takes a few seconds, and it won't affect your credit score. finally! a totally different way to finance your ride. only from carvana. the new way to buy a car.
3:46 pm
keeping your oysters busihas you swamped. you need to hire. i need indeed indeed you do. the moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base claim your seventy-five-dollar credit when you post your first job at
3:47 pm
3:48 pm
liz: top executives from facebook, google and twitter are now all set to testify in front of the senate commerce committee on october 28, twitter at the moment down slightly, facebook's flat - slightly higher, as they threatened to rewrite the rules with the tech platform in the wake of the new york post censorship controversy.
3:49 pm
could the backlash be more bluster than bite. charlie gasparino, what the sources are saying inside a big tech. >> inside big tech in inside washington we talk to lawyers represent a big tech to get feeling why or how far-reaching this crackdown could be particularly on section 230 of the sec code, that gives companies a safe harbor on content, if content is posted there, you cannot really assume the conduit of that google or facebook or twitter, you can assume may be the originator but the section 230 gives the big tech firms and out where they are not held accountable or liable, we should point out the fcc commissioner jean talked about revoking 230, so is donald trump, i am wondering. liz: sorry, doesn't that take an
3:50 pm
act of congress. >> no i think it takes the fcc to vote on it, that is why there is more than a theoretical possibility for this to happen, i am wondering why the stocks are trading more, right now if that is the case stocks of all the tech companies particular facebook and twitter because in the controversy over the new york post censorship issue, they should trade off more and they're not, i asked telecom lawyers, many who are very close to the administration why that is the case and here's what they're saying, first off revoking 230 immediately is not that easy, they don't believe it will happen, president trump gets elected, it won't happen until next year when he has to put more members on the fcc that agree that they should revoke, right now there's at least one republican member of the sec that does not want to revoke 230, his term runs out, you can
3:51 pm
replace them and get a majority, if biden wins, they think is probably off the table, here is something that is really interesting, if trump wins and they managed to convince a majority of the sec to revoke 230, a lot of telecom lawyers saying this is right for appeal that to the safe harbor was written in such a way that they would probably win in the appellate division and maybe at the supreme court level. that is why these stocks are trading off this much, there's a lot of bluster, the hearings are going to be must-see tv particularly on the stock in facebook and twitter and all the tech stocks are big holdings in many of our viewers, this is a big public policy issue on censorship and it wasn't these companies that are too big but if you think immediately there needs to be changed to 230 which is a big thing, and if it does happen, we are hearing from
3:52 pm
lawyers who represent republicans, democrats who work for a telecom company, don't hold your breath, best case scenario mid next year and obviously these companies will find it like crazy. back to you. liz: joe biden live in southfield michigan, he is speaking about healthcare in president trump is in californ california, we just wanted our viewers to know that, the reason i asked the question section 230, i'm trained about my mind around all of this is a piece of internet legislation that was passed into law as a communications decency act, that's why i would think you need an act of congress but people don't know basically -- go ahead. >> the fcc is pretty powerful and they can interpret it, the fcc has a lot of power imposing certain laws from congress including this one, obviously from what i understand, i'm not
3:53 pm
a lawyer and by the way that's a great question, were gonna check that out, from what i understand it's in the fcc jurisdiction to revoke this or not. liz: i submit to your your honor, i would be the worst lawyer, like okay whatever, charlie, thank you, charlie gasparino, eight minutes until we see the closing bell ring. you and i can go to law school together. not to, america the profitable, our countdown closer on why he says you need to look nowhere else but the u.s. of a the booster portfolio, the closing bell seven minutes away were coming back on this friday. ♪ get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
3:54 pm
it was 1961 when nellie young lost her devoted husband. without him, things were tough. her last option was to sell her home, but... her home meant everything to her. her husband had been a high school football coach
3:55 pm
and it turned out, one of his former players came up with an answer. a loan, created just for older homeowners. and pretty soon, nellie young had one of the first reverse mortgages. discover if a reverse mortgage loan is right for you. use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve retirement savings and more. call now for your free information kit. that first reverse mortgage loan meant nellie could stay in the home she loved so much, with memories that meant even more. a reverse mortgage loan isn't some kind of trick to take your home. it's a loan... and it's tax-free cash just when you need it. it's about making your retirement better. call today and find out more in aag's free, no-obligation reverse mortgage loan guide. access tax-free cash and stay in the home you love.
3:56 pm
of course, you can use it to pay some bills, cover medical costs, update or repair your home. but best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. learn how you can use a reverse mortgage loan to cover your expenses, pay for healthcare, preserve retirement savings, and so much more. a lots changed since 1961... since then over a million older americans have used a reverse mortgage loan to finance their retirements. it meant so much to nellie, maybe it could mean as much to you... call now and get your free infokit liz: three and a half minutes left to trade markets for the
3:57 pm
week as we see a rally today, let's flip it over to the weak picture as the dow an and s&p 5, three weeks in a row on the upside, fourth week in a row for the nasdaq. as the u.s. markets have a lot on the road for the next 20 da days, the upcoming u.s. election, the long covid-19 recovery road many financial managers are telling investors to expand beyond u.s. equity, look internationally, might be safer but that's not what our next guest says, joining me now eric freedman wealth management chief investment officer, 170 billion in assets and you are one of the big deciders, why the u.s. when we have a lot of? hovering over the landscape. >> there is a lot of activity over the next couple of weeks no doubt about it, we feel like there's a number of sectors as well as market capitalization that have not been rewarded quite yet, as we get closer to a
3:58 pm
medical solution which again we think is more sooner than later, there are lots of sectors and part of the market that we think you can invest versus having to go abroad. liz: you have consumer discretionary, telecommunication services, healthcare, what is the common thread that runs through all of these because there were quite disparate. >> we think the covid-19 and the pandemic has showered the transit we were expecting five or seven years, two big gaps in this country, number one is productivity and we think of productivity will come from technology, the second is the aging population no matter how many cucumbers restock upon our eyes, we are not getting younger in the healthcare as well as detail, we think those are the solutions that will be durable over the next cycle. melissa: i've got a great avocado mask for you, tech has been on a tear this year, you don't think we've seen too much
3:59 pm
of a run-up, a little frothy at this point. >> we think with a really inflation environment that the delivery on earnings, we will hear about where the next couple weeks, these companies have delivered and until we see a reversal of that trend and we see the inflation pickup, maybe that will be a time when people will pay less for earnings but we think with interest rates this low in textile delivering is a place to hold onto in your portfolio is. liz: anything that worries you on the stateside anything that keeps you up at night and things that you might avoid for particular sectors. >> the sectors would be energy number one and also heavy industrial. we would expect to see a bounce back and industrials once we get to the other side of the medical solution but we do think energy is being challenge from all sides, maybe worth the trade, the biggest worry that we have is probably just a jump in cost
4:00 pm
which we don't think will happen anytime soon, were very glad it's half-full. melissa: i like the glass half-full especially for the mojito on a friday night, eric, great to have you, u.s. bank wealth management chief investment officer, markets closed mixed on a very wild we week, that will do it for "the claman countdown", have a great weekend. connell: americans are buying and that has been sending stocks higher although we do close well off the highs of the day, i am connell mcshane reporting to you live from miami, welcome to "after the bell", if you look at the numbers in the dow is able to snap a three-game losing streak, retail sales came in and rose much more than we expected making up in some investors mind worry about stimulus and rising coronavirus cases around the country, we thought all three major averages would end up higher and looks like maybe we get two out of three and the s&p has been moving between gains and losses in the


1 Favorite

info Stream Only

Uploaded by TV Archive on