Skip to main content

tv   The Claman Countdown  FOX Business  January 31, 2022 3:00pm-4:00pm EST

3:00 pm
course there was no mention of inflation. later on the white house did issue out a tweet and acknowledged the mistake blaming it on proofreading. well i've got to be honest with you. they are going to have to do a whole lot better than this because again, we love each other as a nation. we're tired of being separated and you don't have to pull the wool over our eyes we can take the bad news, in fact we want to take the bad news sometimes. less c, over liz claman, over to you. liz: that's not good news, charles [laughter] we gotta have it today with the markets don't we? we've got jubilation on wall street and one of the worst, i know, can you imagine one of the worst january market performances is just about over. the nasdaq rallying, look at this , 371 points and depending on where it closes, we could see the nasdaq's worst january performance in its 50 year long history. here is the number if it closes up 326 points or less, that does it. that means it sets the all-time
3:01 pm
mark for futility, but we're up 371 so we're comfortably above it. tech stocks taking the brunt of the beating this month, as russia appears ever-closer to a move into ukraine, but one cybersecurity expert says america is already on a wartime footing in cyber space, due to the potential conflicts. the ceo of cybersecurity firm tr elix is here in a fox business exclusive to give us the threat analysis on what a russia-ukraine battlefield means for american companies, government offices, and one sector in particular whose stock s you probably own. we're going to tell you all about that coming up and is this the week that we finally get president joe biden's crypto orders? what will be in it, and what will be out of it and what will it do to crypto prices? the founder and president of the chamber of digital commerce terry ann boring is here to tell us what the crypto is hoping to
3:02 pm
hear from the white house but first we begin with a fox market alert breaking news. look at natural gas prices we are in the after market, already up 30% going into today's session, nat gas is speaking 5.8 % at the moment. it already hit a nine-week high during the regular session of $5 per million british thermal unit s and moments ago president joe biden did meet with the ami r of qatar at the white house the discussion taking on urgency after a verbal brawl between the u.s. and russian representatives broke out hours earlier at the u.n. security meeting, with russian troops at the ukraine border and fears an invasion might be imminent experts say russia could weaponize its natural gas reserves upon which much of europe depends. now qatar happens to be the third biggest producer of nat gas in the world. it could play a crucial role in filling the gap if russia shuts down its nat gas exports to europe. by the way the two nations agreeing to a monster $14 billion deal for qatar airways to purchase as many as
3:03 pm
50 boeing jets, 34 of which be 777x freighter jets. that's got boeing at the top of the dow at this moment and just off session highs, boeing looking quite alive at the moment up 4.5%, to $199 and change and then we also have this. we are looking at a rally at the moment, yes but for the month of january, roared in like a lion, however it looks like it's ending with its tail between its legs. even with the gains that we see for the moment on the nasdaq look at this , s&p is jumping as well up 63 points or more than 1.5%, the s&p still is headed for the worst month since the pandemic began in march of 2020. netflix and moderna the biggest s&p laggards month-to-date you can see for the month moderna down 34%, and netflix down 29%, but it could have been a lot worse. netflix is actually getting a boost at this hour on a citi upgrade so we do see netflix jumping 10 full percentage points right now,
3:04 pm
speaking that banner goes to the nasdaq, an absolutely brutal month for big tech shoved it firmly into correction territory , and has it heading not only for the worst month since march of 2020 but the poorest january showing of all-time, if it falls below 326 points of gains today, in this next well let's call it 55 minutes here. right now, the nasdaq is having a good day, it's up 375 points but if you want to look at the culprits here, it's the same. netflix and moderna were the two laggards for the netflix, for the nasdaq rather. the dow, well it's heading for its worst month since september of 2021, and yeah, we're up 278 right now, for the dow but you've gotta look at the small cap benchmark russel 2000. it was the first of the majors to enter a bear market this month, and as we bid adiu to january investors have a full plate of earnings reports to digest that could change the whole picture here, right? facebook parent company meta we also have amazon and alphabet
3:05 pm
coming out, ea and ge thursday, ups and gm starbucks on friday bus we can't forget the january jobs report coming out friday, will this put the january jitters to rest here is our floor show traders kenny polcari and scott bauer. does the rebound portend anything to you about the next month, february? >> i don't think so at all. it's really just end of the month window-dressing because there were lots of bargains created over the month and you named a lot of them, nasdaq and russel for sure, and those are the two additions that are really enjoying all the buying today but i still think that there's trouble ahead come february, come march, as we move through this rate hike cycle that we're going to run into and i still think that the market has to test the lows that it created on monday, january 24, the day when it fell like it was really consulsing but yet it didn't and so my sense is it feels good today but i think that there's still more
3:06 pm
turbulence to come. that doesn't mean that you shouldn't be enjoying the gains today. go for it but i think you have to be cautious. liz: okay, so scott bauer, what kenny points out that is still very much in play are the rate hikes. over the weekend we now have goldman sachs, wells fargo, jpmorgan, all calling now for five rate hikes this year, and by the way, bank of america decides now it's going to be seven rate hikes this year, either way we've got the 10 year yield at 1.788% this morning it was at 1.8% so coming down just a bit. do you think the january jitters are over? >> no, i don't, liz; however, i don't think that we're going to continue this massive amount of intraday volatility that we've seen. we got last week as kenny pointed out on the 24th that massive vix spike and that was almost a feeling of capitulation now i do think that we probably will retest those lows but not on these big massive intraday
3:07 pm
moves that we have had. i think that that happens one time, people get freaked out about it, traders get freaked out that's why volatility spikes up and then it happens again and it happens maybe a third time, and you don't see quite the panic. you don't see quite the move, so i do think that we probably re test those lows, but certainly not in the volatile manner that we did just last week. liz: oh, but you guys, i've got to get your thought on where you saw any of these names come down so dramatically that they look really tasty at the moment. kenny? is there one or three names that you say this is it? >> nvidia, nvidia, nvidia which i love, i loved it when it was 300, i loved it even more when it was 210 and now it's trading back at 234 or something. i also like in the cybersecurity space and it's interesting that you started this program with that conversation about what's happening, but cisco, palo alto
3:08 pm
networks are two names i also like that are acting well starting to lift their hand , they're testing resistance again and i think they just feel good to me so those are the three names i would absolutely be looking at but nvidia is at the top of that list. liz: bauer, you going with anything here software for the month down 14%, semis down 15%, internet down 16%, ark investment of course cathie wood's fund down 27%, or are you going with something a little more like the blue chip names in, i don't know, infrastructure. >> i'm actually not in that space there. i'm looking at some of the financials in the payment stocks that have just been obliterated specifically paypal, and visa. paypal literally cut in half from its all-time highs, yes, they do still have a frothy 40- ish or 40-to-1 eps but they make 40-to-1 pe, but they make $ 4 earnings per share, i love that stock, i also love visa. that's about 25% off its highs already reported earnings, i
3:09 pm
think those are two stocks to take advantage of after these massive dips. liz: yeah, paypal, i hear a lot of people say that one starts to look good because it ain't going away. that's what you want to do first is look at good companies going through bad times that's what buffett says and kenny and scott say thank you gentlemen great to see you we really appreciate it. nasdaq standing at 14, 118 right now, if it's at 14, 098 then we got a problem then it's the worst january of all-time. fox business alert, merger monday in the video game sector, sony look at the stock here. absolutely going nuts at 3.8% at the moment, it's off the highs that it was earlier. sony is going to buy video game developer and create or of the halo franchise, bunge for $3.6 billio n, and it was once-owned by microsoft, of course which struck its own deal to buy acti vision blizzard for 70 billion earlier this month, everybody was kind of pressuring sony, you've gotta
3:10 pm
do something here, gotta make a deal and they have, according to investment banking firm drake star partners the video game sector is racing to a record $150 billion in deals, financing and ipo's this year you can see some of the names that could be in play here, you've got unity up 8.8%, ticker symbol game up 17%, roblox rblx up 11.4 %. another deal at this hour we need to tell you about, cloud software firm citrix systems is down 3.7% on a report that investment bank elliott management along with vista equity partners are close to combining to buy it for $13 billion, in an all-cash offer. that works out to $104 per share , which would come at a discount to friday's close of 105.55 we're at 101.63 right now tesla getting a charge on this monday, higher after credit suisse upgraded the stock to out perform from neutral. the firm says the tech correction this month has created a buying opportunity.
3:11 pm
well, yet a better opportunity friday because it's 9.5% more expensive today. other ev stocks riding tesla, lordstown motors,horse group, and lucid up 6%. the russian army maybe on the verge of invading ukraine, but is it already striking a war time posture in cyber space? ready to attack the u.s. in a fox business exclusive, we'll take it up with the ceo of cybersecurity giant trellix, who says one sector in particular better watch out. it appears to be the number one target, with the closing bell ringing in 49 minutes and the dow jones industrial power ing higher by 201 points it's a big rally day on this monday, "clayman countdown" is coming right back, stay with us.
3:12 pm
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 imagine getting $150,000 dollars... for one year of epic adventures... in a new dodge hellcat... and you don't even have to quit your day job. dodge has created the sweetest gig ever - aka chief donut maker.
3:13 pm
you'll go from dodge fan to dodge ambassador this is a once in a lifetime opportunity, and anyone can apply. you just need to show you have the drive. are you our new chief donut maker?
3:14 pm
as a business owner, your bottom line are you our new is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile. flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable nationwide network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™
3:15 pm
liz: we've got a fox business alert here, russia and ukraine tensions are getting closer to a rolling boil, and now a top cybersecurity official warned that the u.s. is "already in a warfair state with russia, and
3:16 pm
should be prepared for cyberattacks from moscow." the ceo of cybersecurity company airgo telling a group of governors that if russia invades and the u.s. sanctions it we can expect a big increase of cyberattacks on businesses in the nation's critical infrastructure. in a fox business exclusive we're bringing in the ceo of cybersecurity firm trellix, brian palma. brian, clear through this for people. what are you already seeing from the cyber space warfront? >> yeah, hi, liz. great to be here. so we're definitely seeing attack level rise and of course, with what you're talking about is happening between russia and ukraine, we've been seeing a lot of these techniques happen over the last year, actually, liz. what's interesting is that last almost we just went by the one year anniversary of solar wind, and why that was important was we saw nation states attacking private companies, and that was a big deal. over the course of this last year, we've seen that activity
3:17 pm
ramp up, and that is concerning for a number of reasons. obviously, their skillset is very high when it comes to nation states they've got unlimited capabilities and we're monitoring that out in the wild, so to speak. liz: well, when you say nation states, can i assume this is russia and china? >> yes, you can. there's others but those are obviously the two main actors for sure, and we've seen that activity ramp up. covid obviously is a big part of this as well. many of our corporations have sent their employees outside of the corporate walls, working from home and other places, which raises the risk level as well. liz: brian, what are you seeing from customers? are they reporting that they are starting to see these bad actors tap on their digital walls, their entries into everybody's laptops and their entire systems >> yeah, so obviously, one of the things we see a lot is there s always campaigns before the campaign, so the bad actors get out there and they tryout
3:18 pm
different attacks. in the case of some of these nation states, they maybe doing that in one area of the market. they maybe doing that in the ransomware area to understand how they can get financial gain but also where the vulnerabilities are. they then will come back and use that potentially in times of warfare, so that's when i talk about over the last year to 18 months, we've seen that probing gina cross private organizations and now, when we start to see potential cyber warfare some of the same techniques will be utilized. liz: if you could say one or two of the top sectors that are really potentially the biggest targets, who would that be? we always hear about the grid but then i'm thinking, the way to really bring a nation down is by hitting its money centers. >> sure. our financial services are always at the forefront. they are always a target for sure. we've seen critical infrastructure more recently. the other thing we're seeing, liz, is really moving down into the middle market and into
3:19 pm
smaller companies. that's what happens with ransomware, because they are able to impact companies that are less-prepared. we saw that with the colonial pipeline incident last year as well, and obviously, that had an impact on how we got fuel on the east coast. liz: you know, i was talking to a guy after the colonial pipeline story and he runs a relatively small business in new jersey, small in the grand scheme of things. he got hit by ransomware. he said he started to negotiate with the guy, it was all through the internet. he did call some police and some authorities about it and they said well, you know, anyway, they brought down the price for the ransom that they wanted, but in the end, a lot of companies can't shoulder this cost even if it's $10,000 or governments, local governments and municipalities are hit by this as well so let's talk about trellix. what's special about what you do is that your company does artificial intelligence that actually morphs in realtime because now, these attacks are
3:20 pm
also mutating in realtime, so does yours just stay on its heels? how does that work? >> that's right. so you know, first of all the private sector tends to see many of these attacks first. we have over a billion sensors out in the market. those sensors give us what we call telemetry. that is really data. we're then able to use artificial intelligence and machine learning to correlate that data. once we have it correlated we have a better ability to predict where those attacks will be. you'll never prevent them but when we help our customers is understand first how do you hunt the threats and then how do you respond to the threats and ultimately how do you remediate the threats and that's a combination of expertise from our people but also the technology you mentioned machine learning primarily. liz: before we go, i want our viewers to understand that trellix, they may not have heard that name, but they know mcafee, and they definitely know fireeye , and you are the new merged company of those two
3:21 pm
names. when do you foresee taking that to investors out there and going public? >> yeah, great question. so we brought together two giants in cybersecurity late last year, we're excited about that. we've rebranded it. our focus right now is on our customers and protecting our customers, especially through what i would call this latest cybersecurity super cycle. we'll do that and we'll evaluate at the end of the year where we are and hopefully one day soon, we'll think about going public. liz: and i hope when that happens you'll come be with fox business and the "clayman countdown", bryan, we're watching your company. thank you. would love to do it thanks, liz. liz: you bet. what exactly did spotify's podcast super star joe rogan say yesterday when he responded a raft of covid misinformation criticism and a boycott driven by rocker neil young? you are about to hear rogan's reply. it must have worked. we're going to show you spotify 's top reaction right now , the closing bell ringing in
3:22 pm
let's call it 38 minutes, 39 minutes, the dow is up 147, but folks, we're kind of losing a tiny bit of steam, the nasdaq still up 300, but now it's below that important threshold that we needed to see so that it could escape the worst january of all-time, we're watching it very closely tick-by-tick, stay with us. at fidelity, your dedicated advisor will help you create a comprehensive wealth plan for your full financial picture. with the right balance of risk and reward. so you can enjoy more of...this. this is the planning effect.
3:23 pm
3:24 pm
3:25 pm
throughout history so you can enjoy more of...this. i've observed markets shaped by the intentional and unforeseeable. for investors who can navigate this landscape, leveraging gold, a strategic and sustainable asset...
3:26 pm
the path is gilded with the potential for rich returns. liz: how quickly fortunes turn. citigroup upgraded spotify from a buy to a neutral after spotify 's number one podcaster joe rogan issued an apology and a response to the boycott started last week by singer song writer neil young. the music and podcast streaming service has come under pressure to remove joe rogan's podcast after young complaining that the show is "spreading fake information about coronavirus vaccines" yanked his music off the streaming platform, that move followed by joanie mitchell pulling her music off the site,
3:27 pm
wiped more than $2 billion from spotify's market value. well the stock is up today on the heels of rogan coming out on instagram yesterday saying he's open to change. >> one of the things that spotify wants to do that i agree with is that at the beginning of these controversial podcasts like specifically ones about covid is to put a disclaimer and say that you should speak with your physician and that these people and opinions that they express are contrary to the opinions of the consensus of experts, which i think is very important. sure, have that on there. i'm very happy with that. also, i think if there's anything that i've done that i could do better is have more experts with differing opinions. liz: but there is more, to ashley webster on what that spell off has prompted spotify to do. ashley? ashley: you know, talking about the stock, liz, after hitting a
3:28 pm
52-week low last week on the rogan backlash spotify stock has seen that amazing rebound and to your point the upgrade from citi also given the shares a boost to a buy up nearly 13%. now joe rogan to himself as you pointed out is speaking out. he's saying in that video on instagram that he's not trying to promote misinformation about covid, only to talk to people who have differing opinions. take another listen to that. >> i'm interested in telling the truth. i'm interested in finding out what the truth is. i'm not interested in only talking to people that have one perspective. ashley: so over the weekend spotify ceo daniel eck announced an advisory will be added to any podcast episode discussing covid-19 saying "this new effort to combat misinformation will rollout to countries around the world in the coming days, to our knowledge, this content
3:29 pm
advisor say the first of its kind by a major podcast platfor" but as you mentioned, high profile musicians including neil young and joanie mitchell may have ditched spotify over claims of misinformation but the stream ing platform is and says it will hold firm, refusing to remove or even censor rogan 's podcast. one big reason for that, in 202y reportedly paid more than 100 million bucks for the exclusive rights to the podcast. another reason, spotify isn't a music company it's a tech company, trying to maximize profits. also, spotify's popular music service is not profitable. it doesn't make money, so there is a lot riding on the popularity of podcasts, especially joe rogan, who, liz, as we know generates an estimated 11 million listener s per episode and that speaks loudly. liz: wow, wow, and the pop in the stock today speaks loudly
3:30 pm
that they are dealing with the situation, they are making some changes, and investors seem to like tax ashley, thank you very much, ashley webster and by the way we talked all about joe rogan and the controversy and his discussion on instagram on my morning market minton on tik tok, we're all over the most trending headlines join the clayman army follow me on tik tok @redfoxliz. all right the cryptoverse awaiting president biden's new rules and they could come as soon as this week but what do crypto companies and investors fear, but also want from this regulatory directive? the founder and president of the chamber of digital commerce is here to lay it all out, ahead of it, ahead of that rules of the road. all right, closing bell ringing in 30 minutes, we do have the nasdaq up 328, needs to be up 326 or more to help it dodge that worst january of all-time
3:31 pm
and the dow is up 202, s&p better by 51. charlie gasparino is also coming up, you've got to stay tuned for that. with my hectic life you'd think retirement would be the last thing on my mind. hey mom, can i go play video games? sure, after homework. thankfully, voya provides comprehensive solutions and shows me how to get the most out of my workplace benefits. what's the wifi password again? here...you...go. cool. thanks. no problem. voya helps me feel like i've got it all under control. because i do. oh she is good. voya. well planned. well invested. well protected. meet ron. that man is always on. and he's on it with jardiance for type 2 diabetes. his underhand sky serve? on fire. his grilling game? on point. and his a1c? ron is on it. with the once-daily pill, jardiance. jardiance not only lowers a1c...
3:32 pm
it goes beyond to reduce the risk of cardiovascular death for adults with type 2 diabetes and known heart disease. and jardiance may help you lose some weight. jardiance may cause serious side effects, including ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital yeast or urinary tract infections. a rare life-threatening bacterial infection in the skin of the perineum could occur. stop taking jardiance and call your doctor right away if you have symptoms of this infection, ketoacidosis, or an allergic reaction, and don't take it if you're on dialysis. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. a once-daily pill that goes beyond lowering a1c? on it with jardiance. ask your doctor about jardiance. (thunder bashing) - [narrator] we all get hit by the storms of life. for troy conquest, his storm hit after coming home from serving his country as a marine. - i had noticed my legs were swelling, and we went to maine medical hospital, and they said, "mr. conquest, can you get up for your mri?"
3:33 pm
and i remember pushing up off the bed and i fell. next thing i know it was three weeks later and i was paralyzed. it was a pretty low point to not be able to do the things that i love to do. pva was there the first day. - [narrator] paralyzed veterans of america is there for veterans like troy, but we need your support now to help our heroes who face overwhelming challenges every day. call now to join our hero circle. your gift of only $19 a month, just 63 cents a day, will help provide our veterans with the life saving help they need. - our injuries have closed a door, pva has opened a door. - [narrator] with your monthly gift, you'll help paralyzed veterans receive year-round specialized medical care, support research and treatments that lead to life-changing breakthroughs, and pva's ongoing fight to secure the benefits
3:34 pm
our heroes have earned, and the accessibility they deserve. when you call now, you'll receive this pva team t-shirt to show that you are fighting for our paralyzed veterans. your monthly support will help our veterans live independent lives with dignity and respect. - pva has brought me back to life. i've fallen a few times and pva is like, "get up." we just keep getting up. - [narrator] call or donate online at pvahero.org today. you're a one-man stitchwork master. but your staffing plan needs to go up a size. 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
3:35 pm
liz: bitcoin is on track to end january with its worst performance in four years, down more than 20% since the start of 2022 leading many investors to fear that we might be at the precipice of the so-called crypto winter, the prolonged period, was watching these currencies do nothing. could help be on the way from an unlikely source? it's said to be preparing for the release of an executive order from cryptocurrency in february, which we all know is tomorrow, right, that will offer government-wide strategies for digital assets and while there's still many unknowns surrounding this order, perry ann boring
3:36 pm
founder and president of the chamber of digital commerce is here to anticipate what the directive might include, and perry ann you are a crypto expert but i want our viewers to know that you also worked as a legislative analyst in the house of representatives. with that background, what do you think, what can you guess this executive order is going to look like? >> well, what's been reported in the media so far is that it's going to outline a government- wide strategy for blockchain and what we're expecting to see is a broad- based set of recommendations that are focused on coordinating various government agencies to setup policy framework for this technology. now just to give you a little bit more context, at the chamber of digital commerce we have been advocating for a national action plan for blockchain for three years, in february. so this whole of government approach is long overdue, but it's really important that we get the details right, so what we're calling for is we're
3:37 pm
asking the administration to send a clear statement of support for the development of this technology in the united states, and there's so much on the line here. for us to maintain, for the u.s. to maintain its preeminent in this sector, what we need is a light touch policy framework that does no harm but also provides regulatory clarity to investors in the industry. we have a lot to lose if we get this wrong, and if this innovation is pushed overseas so the devil is in the detail but this could be a positive development for the industry. liz: well, the attack, or the approach, i should say, it feels like an attack sometimes from the sec's point of view, at least according to people who are very pro-crypto, has been somewhat haphazard, so any kind of framework would certainly help but are you getting a sense that president biden isn't exactly on the same page as gary gensler of the sec and that maybe president biden doesn't
3:38 pm
want to squish down or tamp down this nice entertainment investment, i guess, some of it is cryptocurrency, others say there are different kinds of securities but how do you think he looks at crypto? >> so this patchwork of regulatory oversight is something that has developed over many years and it's something we speak to international action plans for blockchain. in march of 2013, the department within the treasury that was the first agency to come out and issue guidance for digital assets and said they be regulated as currency, and then the irs came out and said well we're going to tax them as property and now the sec has jurisdiction over digital assets that are defined as securities and then you have the cftc, the commodities futures trading commission regulates other digital assets as commodities so that's four legal frameworks that all have very large regulatory requirements. if you are defined in those ways
3:39 pm
, so this whole of government approach to bring coordination in a formal way to that process is something that could help streamline a lot of these regulatory friction points for innovators today. liz: and you've got to figure that president biden doesn't exactly love xi-jinping or vladimir putin of russia, so you know, putin and russia had said we don't want you trading it, you can hold it but we don't want any mining. we also don't want people getting too involved with it. xi-jinping does not like crypto at all, so you've got to figure that maybe america might look at this differently. on top of that though, the imf, the international monetary fund isn't exactly embracing it right now. where do you stand on what they have said which is basically they have called crypto destabilizing capital flows in emerging markets. >> well it's the biggest threat to financial stability. it's just bad economic policy. the global monetary and financial system is facing
3:40 pm
systemic issues, three points there. you have inflation around the world at historic highs. there's over a dozen nations today with inflation rates at 20 %. the global debt-to-gdp ratio is over 350% that means we are spending 350% more than we are producing, and then thirdly, there's a huge financial inclusion gap. according to the world bank, 1.7 billion adults remain un banked today. these are just basic economic principles. we can't go on like this forever our financial system is changing , logic tells us it has to, and there's many policy makers here, in the u.s. , that understand this. they see this , they're looking to digital assets and more specifically bitcoin to strengthen their economy. governor greg abbott is working to make texas the crypto leading state. miami mayor francis suarez successfully been able to duplicate hundreds of cryptocurrencies into the state of florida. there's more examples of that
3:41 pm
but look currency is the life blood of an economy. bitcoin is a lifeline to sound money principles. liz: well, as we finish i did want our viewers to know that in 2021 bitcoin surpassed american express and discover in annual payment transaction volumes, so it is a thing, folks, and whether you agree with it or like it or hate it or don't understand it, people are using it, so perianne, please come back. we're waiting on this directive, charlie gasparino's reported that it could come maybe as early as this week but definitely in february. we appreciate you coming on, thank youuch. >> s, liz, great to be here. liz: all right, robinhood re bounding despite an increase lately in short bets against the online broker. what are the shorts seeing for the meme stock vehicles? charlie breaks it, next, speaking of charlie, with the closing bell ringing in 19 minutes, stocks just off session highs, a minute ago the nasdaq
3:42 pm
hit a session high of a gain of 385. right now it's up 374, dow is up 268. at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. opportunities are all about timing. so if you're turning 65 or retiring soon, it's time to take advantage of a plan that gives you more for your medicare dollar: an aarp medicare advantage plan from unitedhealthcare. call unitedhealthcare today. for a low or $0 premium, get $0 copays on primary care doctor visits, preventive dental care, and hundreds of prescriptions. in fact, plan members saved an average of over $9,000 in 2020. you'll even get free yearly eye exams...
3:43 pm
and free designer frames. don't miss your shot. if you're turning 65 or retiring soon, learn about our wide choice of plans, including ppo options. call unitedhealthcare today. we'll walk you through your choices and find the right plan for you. catching a good opportunity... is all about timing. so, enroll today, before the moment slips away. take advantage now.
3:44 pm
as a business owner, your bottom line is always top of mind. so start saving by switching to the mobile service designed for small business: comcast business mobile.
3:45 pm
flexible data plans mean you can get unlimited data or pay by the gig. all on the most reliable nationwide network. with no line activation fees or term contracts... saving you up to $500 a year. and it's only available to comcast business internet customers. so boost your bottom line by switching today. comcast business. powering possibilities.™
3:46 pm
liz: got to look at robinhood, the rally continues for robinhood, after cathie wood 's famed ark investment management snapped up another 2.5 million shares of the stock trading app on friday. so now you see this company jumping 9.7% for the stock it's at 13.97 and it brings ark's investment to nearly $300 million. the investment shows a vote of confidence of sorts in a company that's kind of been struggling to thrive since its lackluster ipo in july but short sellers meanwhile are ramping up their
3:47 pm
bets against the stock. to charlie gasparino, what are you hearing from the short sellers or about the short sellers? charlie: they are negative on this and for a couple reasons. we should point out the short interest this flies all over the place. i've seen it as low as 4% last september it was a high as 20%, or something like that, in august and it exceeds 10% right now. should point out that any short interest that is above 10% represents, you know, mostly negative sentiment building into the stock, and the short sellers are betting on two things. they are saying that this company faces tremendous financial headwinds, there's an interest rate increase, say we get a 50 basis point increase in march that means there's less retail trading and that's their bread and butter and they are a no-fee outfit that retail trader s can trade for no fee they became a huge phenomenon during the meme stock explosion in january of last year, as we
3:48 pm
know all those meme stocks have traded off significantly, so there's less juice in terms of that crypto is selling off again that's another big part of their business model, that's selling off so there's less interest trading interest in that, and then on top of it, there's talk about a sale of robinhood and i think the conclusions that people are coming to is not going to be a lot of ready buyer s here, you know, the financials are not that great, and just the business model scares a lot of the big banks. all these big banks are highly regulated. morgan stanley theoretically be a great fit for robinhood because it has so much retail, it has brokers, it has e-trade, it could put robinhood in there as well but people are worried about robinhood's business model of enticing first-time traders in and the regulatory risk that come with that and as you know, they've drawn a lot of scrutiny from the sec on that matter, so the short sellers believe this thing is long term, not a
3:49 pm
good play. they are still shorting the stock, again, more than 10%, and listen i wouldn't be surprised if robinhood sold itself or went private tomorrow. that's not out of the ordinary. it's just like who would buy it, and would black stone really believe it could theoretically take it over, spin it out as a better player, more money in the future. that's where this thing comes down to. it's an interesting business model that does very well when you have the madness of crowds of surrounding it. we are at the point now, liz, that the madness of the crowds are starting to be less mad. we don't know how less mad it all depends on the fed but that's why you get increasing negative sentiment on robinhood, despite the fact that cathie wood is in there. i still would like to hear her rationale. you know, clearly, articulated it. liz? liz: well she basically, yeah, she just reports.
3:50 pm
what i like about her is that she is very transparent, and her etf's and funds always report what they bought want they've sold, and that's pretty much it, so we would absolutely love to have her on to articulate that, and some of her other investment s but she realizes she's looking further out, charlie, and i do think she looks at some of these technologies and i'm not sure that includes robinhood but some of these technologies that three years, four years, five years down the line, maybe even two years, will still need them. charlie: robinhood doesn't have a technology that's incredibly complicated to be honest with you. it's just, so you know, we're not talking the blockchain here. we're talking about a way for people to trade cheaply, because robinhood sells its order flow to third parties like citadel and places like that, and even that could come under some pressure from the sec, so, are you really going to pay as
3:51 pm
jim chanos opined on his twitter feed two times book value for a company with these types of financials, plenty of stock outstanding? it's a rough time. it's a rough one, and they are going to have to figure out their business model and do something different with it, i think, before it breaks out of its kind of slump right now. by the way shares are down 60% since the ipo, liz, back to you. liz: charlie thank you very much it's not a rough road today for the bulls. we are at session highs, folks. up 435 points for the nasdaq right now, and in the battle to keep your portfolio in shape, while keeping up during the market volatility that we've seen including today, today's countdown closer says all you have to do is look into the mirror to drop some weight and strengthen your investment. he is going to give you the name he loves most, when we come back closing bell eight and a half minutes away and yes, we are at the highs of the session for the dow, s&p, and nasdaq. don't move.
3:52 pm
. .
3:53 pm
3:54 pm
at fidelity, your dedicated advisor will work with you on a comprehensive wealth plan across your full financial picture. a plan with tax-smart investing strategies designed to help you keep more of what you earn.
3:55 pm
this is the planning effect. liz: we are about five minutes away from the closing bell ringing. january managing to dodge the ignominious title of being the worst first month of the year of the nasdaq in its whole history. right now we're at the highs of the session up 463. look at the dow, when we started just at top of the hour 3:00 p.m. eastern the dow high was up 278. the dow jones up 384. not bad. but the nasdaq still on pace for its worst january since 2008. as long as this holds up down about 326 points. worst performers month to date as we told you include moderna and netflix but epan systems. they're not redeeming itself at this hour fda gave full approval
3:56 pm
for covid vaccine for people 18 and older, full approval. >> lululemon moving past omicron fears as consumer traffic returns to the brick-and-mortar stores. our "countdown" closer, bullish on the stock. he says we'll keep the portfolio in good shape. we need that because we're sweating the month of january out. we are joining right now from for the pit capital group, portfolio manager carlos henderson. tell me why you love lulu here? >> thanks for having me back on the show. lulu fell from a high of 485 just two months ago. looks attractive at these levels. omicron was a big factor for them closing many of their stores right around december the peak of holiday season. vietnam is volatile for them. they did about 30% of their materials. however we see the supply chain disruption subdueing. if you look lulu compared to other fitness apparel companies,
3:57 pm
less promotional. don't need as big of a discount to move inventory off the shelves. lastly what i would mention they love their international expansion and growth segment which helped them reach 2023 sales growth as they alluded to in the last earnings call. liz: they have the mirror. that is an interesting play. they are an apparel company. yet they bought the fitness equipment. peloton down for the count. six month loss of pell ton, loss of 77%. it is really struggling here. do you see, a, acquisition, people kind of chattered about that, and b, do you ever see peloton coming back? >> i don't see lulu making a move for peloton anytime soon. i think they still need to prove themselves with mirror in the acquisition. i think the motive behind that acquisition lulu more experience type of seller. companies like peloton, they had
3:58 pm
so much demand pulled forward catching up to them. i think peloton was caught with a classic bull whip effect with huge swings in demand during the pandemic. you order way too much supply that doesn't much up to demand once things return to normal. liz: yeah. as we look at those two stocks, let's broaden the picture here, we got a roaring rally today. what do you expect for the month of february for the broader markets? >> honestly what i think we're seeing in the last few trading days is a dead-cat bounce in my eyes. i believe volatility we're seeing is probably going to continue and could get worse. there are too many factors at play that in my view stock market party that we've seen over the last decade is wrapping up but as we see people haven't even left the party yet, they continue to still dance. liz: you know that is interesting that you say that and for those of you who don't know the term dead-cat bounce. don't get upset. that means i believe carter, you're saying we could see more down usaid here and the fed may
3:59 pm
play into that, correct? >> that's correct. we're heading into the march announcement what the fed is going to do. i think we'll see volatility. i think we're obviously going to get a move. whether that is 25 basis points or 50 basis points is yet to be seen but we vin nation right which i think probably peaked as we see cpi up 7%. fed tapering high interest rates, is ply chain disruptions, ukraine, nothing to be offset quantitative easing we've gotten from the fed in the past. liz: finally we got 10 seconds here. you like tech here at all? >> i think they're are pockets of tech still remain in bubbles. i think if you are in tech, go to higher quality assets. tech stocks that have a lot of cash on the balance sheet. actually produce some type of earnings. liz: great to see you carter, you kept that to 10 seconds.
4:00 pm
liking carter henderson. thanks for joining us. nasdaq is avoiding the worst january ever but looks to finish the month of january down 9%. just skirting a correction here. [closing bell rings] liz: worst month of march 2020 for the s&p 500. that will do it for "the claman countdown." we look at the dow, it is a big rally today. up 409 points. "kudlow" is next. ♪. larry: hello, everyone. welcome to "kudlow." i'm larry kudlow. there is a marvelous "wall street journal" piece out by my friend jason riley, how the trump tax cuts and economic boom lifted black americans. many of us have extolled the trump tax cut benefits to low and middle income households which is a direct rebuttal to the continuing fact-free cognitive dissonance spewed out by president biden and his friends that the tax cuts only benefited the rich. simply not true.

35 Views

info Stream Only

Uploaded by TV Archive on