tv Making Money With Charles Payne FOX Business December 2, 2021 2:00pm-3:00pm EST
americans. as we've seen with this new variant. america is doing our part and we'll do more but this is a global pandemic and everyone needs to fight it together and that includes countries who are helping that aren't particularly friendly toward us. their populations are in trouble. to their credit the scientific community particularly in south africa -- charles: good afternoon, everyone, i'm charles payne. this is "making money." we'll get back to what president biden is talking about. breaking right now the whirlwind action today. market making another attempt to regain its footing. after the one-two punch of omicron virus and hawkish jay powell s this the time for individual investors to become so bearish that they throw in the towel? i have the best line up to get you through this. biden administration taking most government control that we've ever seen, begs the question,
distopian novels whatever you read have they come true? i will talk to american optimist, larry kudlow. i'm high on the metaverse, i will never go there but my money goes there. we may already be living there. you won't believe how much time the world spends online every minute. the numbers will blow you away. all that and much more on "making money". ♪. charles: so the market came out of the gate with a strong degree of gusto. we know these rally attempts have not taken hold this week. the two issues are this, new knowns with the federal reserve and unknownses with the new covid-19 variant. the day after the first omicron case was discovered in america we learned of course it is spreading rapidly throughout southern africa. some actually think that is a good sign. there are a number of reasons of course. maybe it will increase vaccinations.
it even though spreading quickly, will be less of a threat than delta. now there is no avoiding the fact though this will be a waiting game, folks. it will take us sometime to understand hospitalizations and morbidity, maybe a couple more weeks. now these are not of course the first major challenges since this bull market began in 2009. in fact, the panic events, these number 71, say 72 according to yardeni research president ed yardeni who i am bringing in right now. ed, i have to tell you i love the list you put together. it is absolutely fantastic. >> thank you. charles: we had 71 panic attacks. i took the liberty of adding jay powell to the list so we have 72. paint by numbers guy. not a intrad economist. everything by the book. powell 2.0 focuses on compassion, societal issues. now we have powell 3.0. who is this powell? >> this is jerome powell, the
fed chair who has been a pragmatic pivoter. he pivoted from time to time where looks like he is doing it again where he is more concerned about inflation. at least that is the rhetoric. he might make progress with the rhetoric saying he is joining the hawks we need to taper more quickly so we can raise interest rates sooner. that may work some magic here taking some of the inflationary pressures out of out of the commodity markets for example. the price of oil come down a lot. has to do with the variant. has to do with the perception that the fed is becoming who are hawkish. charles: that has been the arrow in the quiver, the ability to jawbone, get markets to act instead of them pulling the trigger. >> charles, i think, we, the fed is trying to avoid volcker 2.0. if they don't address the inflation issue right away or sooner the better then they will
get into position where they have to let interest rates go whatever level it takes to crash the economy to bring inflation down. i don't think they want to go there. charles: i don't think there is any political will at the fed, certainly not in the white house. >> no. charles: how about this variant, your thoughts with respect to this and market right now? we got news after second person in minneapolis. been to the javits center here in new york city. the markets are chugging along. are we putting that in the rear view mirror already? >> i think so. some of the panic attacks only last a day. on friday we had the new variant panic attack 71. and on tuesday we had panic attack number 72. you got ahead of me. i was thinking the exact same thing it is, it would be hearing is titled powell becomes more hawkish. charles: right. >> so far that has been a one-day wonder. the market, we have to remember there is a tremendous amount of liquidity in the system. economy is doing well, earning
are doing well. that seems to bring us back from these panic attacks faster than ever. charles: thanks so much, ed. i love starting the show with you. i love your work. i urge everyone to read it. it is fantastic. i learn something every time. talk to you real soon. >> thank you. charles: bring in from slatestone wealth, kenny polcari, another one of the impressive guys on the street. kenny, they say a picture is worth a thousand words. this is how the session started and this is how it finished. knowing it started that way and ended in all red, your take on this market since friday? >> right. so i think it has been, it has been as ed said, as you point out it has been very confusing, right. on friday it was half a day. it was al go driven. we recovered after everyone paid attention to the reports and drugmakers say vaccine will work, nothing to worry about. the doctor from south africa saying it is not out of control
at all. charles: saying it over the weekend. >> over the weekend markets started to have nervous breakdown again and yesterday we started out strong. we got news out of the california case. i don't know why everyone is surprised. we know it is here. more than minneapolis and california pour sure. i can't wait for hits new york. charles: the guy, second case was at the javits center a few days. >> six months from now another cousin comes, six months from now, we have to learn to live with this. this is not going away anytime soon. the markets and investors will put it in its rightful place and learn to deal with it. charles: talk about the role of machines, algorithms, machine selling. everyone was away friday, no one as at the desk. after the news we came back and felt like some sell program came in and triggered and triggered and triggered. >> it did. what people need to understand
that so much action is driven by technology and algorithms, these algorithmsknown as smart logic headlines. they scan it from everywhere, twitter, headlines. if the word is perceived negative you get a bunch of sell orders, if it is positive you get a bunch of buy orders. you and i interpret the world. we interpret the word not necessarily end of the world. the algorithm can't interpret that. you get wave of sell orders. you start to break technical levels, you get another wave of sell orders. as sell orders get initiated. the algos stop, you get a boom and also on the way up. charles: a sale can trigger another sale, another sale, whatever the formula is, the idea they take away the buying, when you get the vacuum. >> when you get the vacuum, it
all happens instantaneously, right? the technology can cancel buy orders as fast as they initiate sell orders and vice versa, right? charles: let me give you props. you've been very cautious. >> right. charles: i'm not sure if you knew we would get omicron and hawkish powell, whatever. you said we're going down. with re at levels we thought we would h would drift to or get aggressive. >> my year-end a tate is 4300. we're still at 4570. it was always about the fed policy, with the fed being behind the eight ball and having to turn hawkish. i thought i would wait to january to become he was harshish. the minute he reappointed the minute he feels safe the narrative changed. charles: two or three days ago, some people said that happened and it did. >> it happened. charles: i want your help real quick. american association of individual investors bearishness gone through the roof.
people are calling me, real nervous. not all full-scale panic. >> right. charles: what do you tell folks during this time, new investors? we really try to cater to the new folks in the market during these periods of volatility? >> right. charles: especially when a lot of names they own are down a lot more than the market. >> that's true, right? if you look at it, nasdaq might be down five or 6% but there are individual names down 20 and 30% even more on some of them, right? but again depends who i am talking to, where they are on the life cycle or risk scale. if they're 30-year-old, they have 35 years to worry about it. if 60-year-old only 20 or 15 years to worry about it. depending who you are, dictate how much risk in the portfolio and riding the waves. longer term stay invested. you shouldn't try to pick the bottom. it is ridiculous to do that. it is ridiculous. charles: so great having you in studio. you didn't bring me any grub. >> next time. charles: i was expecting something. walking around the green room, i
don't smell any pasta. >> i got to find the kitchen. it has to be somewhere. charles: we'll talk to you real soon. let's get the read on the charts. we need them right now. i want to know where the key points are, potential reversal. let's bring in fairly strategies, katie stockton. i looked at s&p 500. i was happy it held above the 100 day moving average. where do you start, what is the most important number for you with viewers with respect to this market and maybe the worse being over? >> it is very close to in line with current levels. i've been watching former resistance which was around 45, 46 for the s&p 500 very well-aligned with the 50-day moving average and also the 100 day moving average. that seems to be the key support level. it is not a major level but enough of a risk metric we're very comfortable saying that we want to manage risk if we see it more decisive move below. for us a breakdown would require at least a couple of solid daily
closes below that level. we obviously had one of those yesterday. today we have a rebound underway. anything can happen between now and 4:00 p.m. eastern when it closes so we'll just have to judge it day by day but for now it is holding and we have this massive oversold, extreme, that is measurable. so you had highlighted sentiment being one thing that is incredibly bearish. we look at that from a contrarian perspective to the extent these pullbacks generate the bearishness, it often ends up being a buying opportunity. we're seeing these oversold conditions, see the appropriate reaction, characteristic of an uptrend which would mean that buyers step in not just today, but tomorrow and next week that would make us feel comfortable we'll see new highs this year. charles: we would all breathe a sigh of relief. maybe to your point, santa claus rally here we come. i don't have a lot of time. i want to ask about the russell 2000. couple weeks it broke out. technicians said it was a great
breakout and ultimate buy signal. since then it collapsed. the russell is outperforming but golly what happened there? how do we regain that? at what point does it regain the upward momentum? >> the breakout is still intact believe it or not even with the nearly full retracement of the up move. it is high beta. russell is down 12% from the recent highs t has really underperformed the large cap sap 500. it has not broken down we're watching. support is 2180. that level is very much in play as well. the super important that both indices hold at current levels, react to short-term oversold conditions that would be our opportunity to perhaps get involved in the russell 2000 at a lower level to take advantage of that break out and take advantage of the january effect which tends to see small caps outperform large caps into the new year, regardless of the direction of markets.
charles: i hadn't even thought about that. katie, thank you very much. appreciate it. >> of course. charles: president biden announcing new actions to stop the president of the omicron variant. maybe a lot more restrictions are on the way. we'll discuss that. will the government actually shut down tomorrow? i will ask an important guest about the republican side of this. some are saying they're actually going to block the president in order to block the vaccine mandates. we'll go live to capitol hill when we come right back. ♪. ♪ limu emu... & doug ♪ ♪ superpowers from a spider bite? i could use some help showing the world how liberty mutual customizes their car insurance so they only pay for what they need.
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♪. charles: temporary government shutdown could happen as soon as tomorrow. as some republicans are threatening to hold the funding hostage as a way to get president biden to remove the vaccine mandates. chad pergram live on capitol hill with the very latest. chad, going back and forth, huh? reporter: that's right, charles, they're running out of time to fund the government. a bipartisan supermajority of senators favors averting a shutdown, but if a small group filibusters on vaccine mandates the government shuts down early
saturday morning. gop senate candidate, roger marshall is willing uphold the funding. >> we end up at same place. i'm from kansans. they want to know republicans are fighting for them. where is the fight? i will be doggone i will get rolled on this without a fight. reporter: regardless senate minority leader mitch mcconnell doubts the government will close. most members of the gop disagree with the shutdown gambit. >> well i share their concerns about the vaccine mandate but, we know ultimately we're going to fund the government and i don't see the hostage as one we should take. reporter: if marshall and others stick to their plan, the senate must clear two filibusters over the weekend long after the government closes. the issue on capitol hill is usually about the math. whether or not they have the votes to pass a bill or break a
filibuster but on this occasion it is not about the math. it is about time. if marshall and others stand in the way the senate cannot pass the bill before the deadline. charles? charles: chad, thank you very much. joining me now republican congressman blaine luetkemeyer from missouri. congressman, the debt ceiling, government shut down drama like kabuki theater. both sides hurl usual complaints about each other and eventually take action. we have done it 80 times. will this time be different? >> i don't think so, charles, as much as i don't like the vaccine mandate i think this is something that will probably going to pass as we go along here. as you said this is something that happened pretty regularly over the past several years while again, you know these vaccine mandates are devastating to small businesses especially as the ranking member on the small business committee in the house i see the effects of it every day but, you know, again, neil, the democrats, this bill
was postponed for two months, if you remember. was supposed to take place end of september. here we are the first of december and they still haven't got their act together. this is very disappointing, but this is, to me this is the lack of ability to govern on their part. charles: i caught your impassioned questioning of secretary yellen on small business yesterday. i want to share a little bit with the audience. >> the cares act gave the secretary of treasury authority over that. i spent two or three weeks, leadership team of this committee working with secretary mnuchin to put that plan together. it is in your purview. it is in your district, it is your job. to oversee that particular program and it is your job to be able to report on it as per the law. and you just thumb your nose at the law over and over again. it can't continue. charles: so you're reflecting what we're seeing small business optimism which is in a freefall. for all the vitriol the
administration has towards big business. they're doing nothing for small business. you asked over and over again why she hadn't even visited small businesses your committee, what is going on? why are they ignoring the obviously small businesses taking it on the chin from the variant, from inflation, from the lack of being able to hire new workers? >> well, charles, as you well know small businesses are the drivers of our economy. they hire 2/3 of the new people every day and they make up 99.9% of all businesses in this country yet this administration wants to continue pile more burdens on them. this situation with the vaccine mandates is like a dagger in the heart to them. here we have a treasury secretary who as i said in my statement there, it is her job. it is legislated to be her job, her purview, the pp program was a program under the treasury's authority, not under the -- authority. we worked with mnuchin on daily basis to get this thing set up. and worked with him continually during his time in office to
make changes. as soon as yellen comes into office. took a step back, handed more of it over to the sba, wiped her hands of it. you can't acknowledge your job. that is what you're there for. as legislator, my job is to legislate but provide oversight. part of my job is to make sure she is accountable and does the job she is supposed to. she is not doing it. i tried to point that out. we have to change what is going on. charles: you were extraordinarily powerful. wish we could show entire clip. you i hope she got epiphany or bell went off. small businesses do most of the jobs. i'm looking data from adp, congressman, they are having a tough time because they can't compete with the walmarts off the world or amazons of the world. really appreciate what you did yesterday, sticking up for small businesses. hope to have you on real soon. >> my pleasure, charles. thanks for invitation. >> moments ago, folks, president
biden joining new covid travel rules. many are wondering if they're counter productive at this point. america considers china to think of china our biggest national security threat but only one business serves notice to beijing. will other businesses decide to take people over profits? maybe that is the right thing to do after all. we'll be right back.
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♪. charles: president biden laying out new travel restrictions as we learn of the second american with the omicron virus. new winter plan includes testing one day before flying instead of three. mandates health insurance companies pay for at home rapid tests. joining me iwf fellow jennifer stefano. jennifer the administration catching a lot of heat over the international travel ban. many believe it is ineffective. listen, the spread already has begun. we've gone through this.
all new things added to it. your thoughts about it? >> yeah it is incredibly problematic what the president is doing. even our allies in europe are not shutting down travel the way the united states is. what it does, it creates a volatile condition in the markets that is unnecessary. the government in order to manage what is likely to become an endemic strain, covid will be with us ad infinitum in other words, is to have a predictable, dispassionate approach to this as you would any other contagion like say the flu which is very similar to covid. the answer there to respond but not be reactionary and the president now is being reactionary. his approval ratings are under water, polling shows there is some bounce when he has taken these measures in the past. i don't think that will hold. i certainly don't think that will help him or the democrats going into 22. charles: they have learned, he talked about not taking kid out of school, no mass lockdowns. we understand the number one job
at least from his point of view to get the jabs out there but the heavy-handedness has backfired economically and politically. now i want to ask you about something else yesterday, president biden he made claims about relief at the ports. i can tell you right now there is no evidence of that. i want to share this at the audience, fewer ships, take a photograph especially from the piers because they have moved further out to sea. the reason i think this is important, how important right now, jennifer is it that the president just be a straight-shooter, right? just tell us, you know, starting with the afghanistan thing, he told us what he saw was not botched mission. starting with inflation. starting with the vaccine deadlines, everything that doesn't happen the way he wants us to happen he tells us not to believe our eyes. how important from here on out he gives it to us straight? >> charles, you're absolutely right. it is crucial. as i said previously, if you want go government it has to be transparent and has to be predictable that you are going to do what you said were going
to do, many of these policies carry forward from administration to administration. this is the problem with the electing central planners like president biden. is they think they can control and fix these problems. if there is any relief going to come to the ports it will be because the free market workrd around president biden's very bad public policies. calls for more spending or antitrust measures are years and years in the making. by that time there will be negative consequences they don't even realize are thinking about because the marketplace already responded. charles: pick up on the central planning thing you mentioned because we got less than a minute ago. the world 10 anything association announcing suspension ever tournaments in china over concerns of peng shuai, the chinese player. posted a story about a sexual assault from a top government official. she vanished. there are questions where she is now. the wta put people over profits. how impressed are you by this. >> i'm incredibly impressed. i would argue because they care about people they will drive
profits. they are not mute allly exclusive. to have to make a profit you you have to care about people and defend a free and civil society and hold accountable countries that don't do it. where is the nba? where are all the me too organizations? where are all the social justice warriors in sports? why aren't they out there fighting on behalf of these athletes in countries like china under totalitarian regimes being harmed? the silence is deafening, why? the nba was told by china, be i quiet because we won't give you money. charles: i always appreciate it. bring in kathryn rooney vera. let me pick up on that i get email headlines out of china. small sample of yesterday. americans consider china top security threat. full nanny state on internet tech. mit chief warns security threat from china miscalculation.
i go on forever. is the money so good the corporations continue to sell their soul for a piece of that action, could we see today, with the wta start of something we get justice, true justice that america stands for even if it means you lose money? >> yeah, china has been in a deep deceleration because of the state's heavy hand. they're retracing that, because it is starting to affect the common man in china. you see the ccp, chinese communist party kind of retrace its interventionist regulatory, cultural revolution to crack down on big conglomerates in the tech sector. charles: i'm talking about american companies, kathryn. when will american companies say we draw the line? we know you're stealing our technology and building a nuclear submarine that can hunt our nukes down? we don't care. we want money today. we know you are stealing intellectual property. we know you have slave labor
making items. when will american companies step up to the plate? will this be the chance they will do it? >> it will not happen if it hurts the bottom line. that is the role of the government. in the last administration we saw a lot of that come to the fore. what we're seeing attempt to ameliorate the relationship between the u.s. and china. so i wouldn't expect it. don't hold your breath for corporations to do that. it will affect the bottom line. that is the role of u.s. government to protect u.s. citizens interests and chinese are certainly unequivocally trampling on both chinese individual rights and theft of intellectual property which is not new story. it has been going on since bill clinton complained about it. charles: i have a minute to go. props on the crude oil thing. under huge amount of pressure. omicron variant rather, maybe powell. you said it would go to 60, not for these reasons. we were close earlier this morning. is it oversold now? before when you were saying it would go down everyone said it would go to 100. it's a big trade for a lot of
folks watching. >> certainly oil is in a bear market now. probably a bigger drop than i would have expected, much sooner than i would have expected. my contention production would be rammed up we would see a turn in demand and supply by back end of 2022. not december of 2021. there has been a bigger than anticipated selloff. i think oil stays in the range between 65 and 70. so a little bit higher from now through the end of next year. this is obviously a steep selloff. let's just add one more point, charles, energy is a primary beneficiary in terms of the be investable universe in an inflationary environment. i would seen say something like this gives opportunities to enter into the energy market because it is sold off so quickly and it entered a bear market in such a high speed. charles: absolutely. maybe we're seeing that today. nice reversal. great talking to you as usual. we'll talk to you real soon. you know the names, orwell,
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work. they have no idea about the industry and the fact it americas the world go around. jen psaki thinks crude instantly becomes gasoline. jennifer granholm doesn't know the difference between crude and gasoline or how much we use on any given day. aoc doesn't know the difference between oil and natural gas and president biden doesn't know the difference between opec and opec plus. to go to the climate change agenda. they blurt things out. we ask for specifics it is clear they have done no research on fossil fuels. it bothers me because they're trampling over one of the most important industries in our nation. >> they don't have any people at the senior level who understand this is stuff or any expertise or any private sector experience which is very, very important. so they don't know, for example, if the crude price, if the
global crude price changes you're not going to see that in gasoline prices for three or four weeks because of the refineries. charles: right. >> they don't know about the refineries. aoc doesn't know anything about anything. so that is easy. granholm the energy secretary, she is a uaw democrat in michigan. she took the union line. she was a terrible governor. did great damage to their economy. no surprise she is doing damage her. my favorite, deb haaland being obsessive anti-fossil fuel person, marched to close down one of the dakota pipelines, went up to the thing in march. she is from new mexico. she is leading the charge to double fees on drilling on public lands at exactly the time the president is out there saying i'm lowering costs because of my policies. she goes out to double the fees on drilling.
a, you pass along to consumers or b, you don't drill which in case the supply shortage drives up prices. >> refineries. they never let us knew one. >> you paul to email if they know what the crack spread is. what is the crack spread? charles: they may launch an fbi investigation on me. >> amen. >> i ran across a vin diagram couple days ago on the internet. i thought about you. if links up all the famous distopian move develops, "1984", "handmaid's tale, we're here, all the warnings we heard about the dark future. you're an optimistic guy though. are we there? are we heading there? your thoughts on that? >> this story will turn out great. i'm very optimistic, the future of america, i'm very optimistic. politics look bad now but biden will get slaughtered in the midterm elections and there will be a republican in 2024.
actually, charles, even now, the reports today, we have this save america coalition. what in touch with a lot of congressional and senate offices. it looks very much like the bill will not get passed before year-end. charles: right. >> and it will go well into next year, even the ways and means chair, neal said the same thing because they can't get a tax package out. so look, i want to say, save america, kill the bill. the first step to killing the bill is pause the bill. that was manchin's pause the bill because of inflation. i'm fine with that. you pause it into next year. >> you will kill the bill. that is very bullish, my friend. charles: it is very bullish. >> a lot of this will not get through. charles: we don't have to worry about soylent green, "animal farm," clockwork orange, "lord of the flies," logan's run, "a handmaid's tale," don't have to worry about that? >> orwell, most of those predict
shuns are always wrong, including one of my heroes, hayek, wrote "the road to serfdom." he thought communism would take over and he was wrong. they underestimate the american democracy and free enterprise. they are doing it again today. orwell became pretty close to predicting britain, without thatcher, orwell would have been right. that is important point. as far as america is concerned. we'll knock the thing down. i love what my former boss trump said, yesterday, day before, wherever, he said, biden would have been much better off doing nothing because trump left the country in very good shape on energy. charles: yeah. >> on immigration. charles: household balance sheets, everything, everything. >> unemployment. on the operation. biden should stayed in his basement in delaware. okay? and he could have popped up every now and then but that was his big mistake.
his big mistake was trying to change everything. it's a catastrophe. he has to walk back even remain in mexico on the border now which was a trump policy. but you know what? we'll do fine, charles. charles: that is what i need you here for. because i'm, i was getting a little nervous, i was getting a little nervous. >> you have a right to nervous. i was getting a little nervous myself. charles: catch "kudlow" every weekday at 4:00 p.m. eastern here on fox business. we'll be right back.
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tell your doctor if your crohn's disease symptoms develop or worsen. serious allergic reactions may occur. it's good to be moving on. watch me. move, look, and feel better. ask your rheumatologist about cosentyx. charles: all right, folks, right now the hottest party in america is in miami which got a bolt of lightning particularly because of nfts. last year they sole less than 14 million in the first half of the year. this year already $2.5 billion. this is part of the crypto digital revolution that invigorated the gen z crowd. i think they're on path to their own liberation. one of the leaders, randy hopper is here. so great seeing you. i grad to have you on the show. i know you're an nft artist. how is it going? >> it is going absolutely amazing. i love ntts. i love what is going on in the space right now. there is a lot of meet-ups and a
lot of collaboration. charles: how did this blossom? we have people earlier in the year, 69 million, got everyone's attention but seems like this is something that, you're a part of the teen movement that the gen-z crowd taken as their own. >> yeah. people selling the mft for $69 million was definitely a milestone in the space. granted it created a lot of movement and a lot of people noticed nfts at that point and noticed the strength they had. charles: i saw what you tweeted because not just nfts. you're in this whole thing, you like it all, bitcoin, the blockchain, where you tweeted, if you loved freedom buy bitcoin. explain that. >> sure, no problem. if you love freedom buy bitcoin essentially what that means, with bitcoin now we have the opportunity to control our value and control our fun. so you basically are in control of your money. you're being your own bank which
is something really empowering. >> you're an evangelist for teens getting into the blockchain revolution. what do you say to them that resonates the most? >> i say go out there, have fun which isn't something people don't normally say whether it comes to cryptocurrency and nfts because we're focused on a lot of the financial aspects. people need to go out there and have fun. we could be our own store and put out a lot of creative content which a lot of people have been doing, like beeple and artists, music,. charles: i'm really proud of you. glad you came on the show. i hope we touch base again. this thing looks like it is getting started. >> yes, for sure. thanks so much for having me. nft and crypto is the future. i'm so excited to be part of it. charles: thanks so much, randi. >> thank you.
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charles: all right, well the markets trying to find its footing but getting no help from apple, which had already gone parabolic, as the ultimate safe haven play but there's scuttle put out there that suppliers were told that iphone demand was going to be weaker, so you can see that stock is a little bit lower today, of course we get these rumors almost every year around this time. i want to bring in lieu basinata and san a says el. first and foremost, i got the iphone, you sent to me and i want to say thank you, unfortunately when i opened it
up it was on tuesday, my wife's birthday so she has it now, [laughter] but -- >> as long as someone in the family has one, that's all that matters. charles: i do have the stock and you've never wavered on owning the stock. what do you make when these kind of reports come out all the time >> shame on these bloomberg reporter, they're like nocturnal animals trying to cause havoc at night and seeing if anyones paying attention these headlines are truly giggle-worthy. they put a new headline on a story similar and misleading that you alluded to we see it every year. it's like changing a duvet cover and telling me you bought a new blanket, no you just put it over top of something to make me think somethings going on that isn't and here is where i come to. look at the data. apple always ramps up production going into the fall quarter and holiday season and cuts back production for the post-holiday season because of the seasonality in their business. if we look coming out of last quarter, tim cook said there was a $6 billion demand imbalance so we know there's plenty of demand there, the data points and all
the channel checks coming from the analysts are saying demand is still robust especially in the u.s. and china, i'll give the bloomberg article and reporters credit though they are giving us another buying opportunity. here we go again. charles: by the way i want to give you credit because i just learned two things about how apple does the supply chain and ardvarks are nocturnal creatures, shana, are you a buyer of apple? >> i agree with everything lou is saying, right now, the channel checks are showing there's robust demand for the apple iphone 13, it's on pace to do i think 40 million units which is 10% more than last year's holiday season, and that be above what the expectations are so i'm not quite sure what kind of checks there was on this particular one charles: yeah, i know it's ridiculous. i want to ask you guys about this domo, they do this every year, they tell you every minute how often the world is online,
and what we're doing, so every minute, around the world, there are 571,000 tweets. there are 5.7 million google searches, there are 44 million facebook views, 167 million tiktok videos are viewed, so lou , supposedly the metaverse is going to take these numbers to a higher level. how do we make money off this? >> you have to play the component players and the metaverse is just this nice visionary thing that is not going to really exist it's like flying cars. the technology technically exists for it to happen, but it's not going to be a practical reality for a long time. you know, i know your grandson was watching the show. look, he's learned how to use technology and if he says he misses you and misses your face he's not jumping into some mixed reality to enter act with you he will just face time with you. it's seamless and friction less, the metaverse is just too ambiguous right now no one understands it so you've got to look at component players in the chip space and augmented and virtual realities. charles: and nvidia is one of the winners there but shana,
maybe it doesn't come this fake reality doesn't come to reality for a decade, but the stocks have been on the move. are you playing any of them? >> advertisers i would think would benefit from this , names like roblox, which is a metaverse in and of itself, it's something my son really loves, is another name that i think would benefit in this but i think what's really interesting is things that you wouldn't necessarily immediately think of like blockchain-type of technologies be heavily used in a metaverse situation, so i be interested in maybe some of the cryptos, and while it's not necessarily investable i think the biggest winner in the growth of social media are the influencers. you just had on ms. crypto, and you know, that's a perfect example of her, somebody like people that really benefit from the growth of social media where they can take advantage of the situation. charles: all the stuff i'm buying from my oldest granddaughter for christmas, she wants her own youtube channel,
she is going to take toys and show you how to play with them and this kind of stuff so they are flying off the shelf. maybe that's what we should buy, the people who make those lights , circular lights seems like you can't keep them on the shelf. lou, thank you so much for thinking about me, i'm not on the apple but i'm in the stock, shana, always appreciate you and your wisdom and folks we've got a rally but can we hold on to it? liz, that's the question. liz: hold on is your granddaughter going to steal our jobs? charles: no she's going to do something bigger than this. liz: [laughter] hey -- charles: i'm just saying it's a brave new world out there. liz: indeed that is very very true, charles thank you so much. you know, folks we're really in an upside down world, as we kickoff this final hour of trade bad news is now good news, investors are seeing opportunity with markets in rally mode, the dow is on the verge of its best day of the year, now if this rises more than 1.94% right now, it's more than that, it's at 1.97%, and