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tv   The Claman Countdown  FOX Business  February 9, 2024 3:00pm-4:00pm EST

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right? if i'm telling you right now, stop scorning the wealth creation. stop ignoring what these companies do positively for humankind. and, yes, look at the chinese stock market. in fact, look at the european if stock market. and specifically look at germany. do you know germany had the mightiest, most enviable industrial economy in the world after both world wars? all those -- they put on germany, they wanted to slow them up so these over european countries could catch up on industrial things like automobiles. look what they've done to themselves. so, yeah, our stock mark you can argue from time to time it gets overbought. from time to time we have corrections, even crashes. but what that headline meant today in market watch is that we just have the best economic system ever. and i want you to remember that when you go and vote in november. we want to preserve and keep it. last hour of trading, liz claman. liz: is this going to be it, 5,000 at the close, charles? charles: we're going to be north of 5,000 in my mind, yeah,
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absolutely. rev up that diesel. [laughter] liz: you guys gotta stay and watch. charles, i'm sorry, you can't leave yet. breaking news, that is the question, will this be the day for a 5k close? well, we are there and above it, just like charles said. at the moment we're at 5,026, a gain of 28 points or just half a percent. yesterday, i meaning it was kind of a dramatic thing. with just second left before the close it got there, only to be denied at the bell. closing a few points short. now we fully understand just in case you're sitting there saying, liz, it's a round number, please. we understand and so should you there's very little fundamental importance to this. hitting a round number serves mostly as a psychological market moment. be let us look at s&p 5,000 through a perhaps more valuable prism. since the s&p hit an intraday low back on october 16th, the broader index has climbed a meaty 15.5.
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now, any gain for the s&p will mark the 10th record close this year. 9 if the dow can muster any gain, that's going to make it the 12th record. right now the dow is lower by about 48 points. we do have the nasdaq once again the percentage leader. and while it's at 5,986 -- 15,986, just a few minutes ago it touched 16,000 for the first time since november of 2021. small and mid caps, russell 2000 at 2,004, up 24 points or 1.25% all right, ear we go. the big question, what's fueling today's market engine? sorry to sound repeptive here but, yes, some of the magnificent seven stocks, these three in particular -- microsoft, nvidia and amazon -- all of them hitting fresh records. and, by the waxer -- way, nvidia at $718 a share, i mean, 720 is the high of the session. so, i mean, regardless, you're looking at a are major gain. but there's also this, the annual revisions to the cpi that came out this morning, and they
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confirmed last year 's disinflation trend. and december's month over month if consumer inflation rate was actually reviewed from .3 down to .2%. again, that indicates the pace of inflation is slowing. still there but it is slowing, which is the direction people in charge would love to see and certainly consumers would like to see. very few though seem to want to notice the fly in the ointment, and that would be the sudden and very painful demise in new york community bank shares. just over two weeks ago, we've been theminginging -- telling you this on "the claman countdown," they reportedded a surprising loss. today the stock is actually rising. you see it up right now about 11.25%. my -- why? this morning in a show of confidence or simply an effort to she could the market a brave face merge a bunch of top executives including the chairman bought around $800,000
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worth of the stock. will that be enough considering the federal reserves has a warned the market that in one month it will end what's called the bank term funding program, or btfp which it a had launched a year ago during the regional bank crisis providing 1-year loans to institutions after silicon valley bank collapsed. a week ago investor david sacks sent up a warning flare about the upcoming end to the program. listen. >> i think that there's a lot of stress in the regional a banking system, and i think bftp has been sort of propping them up. and i think once you remove that, we're going to start to see more stress. the reason why all these banks are under so much stress is because they've got toxic bond portfolios -- [inaudible] spike in interest rates. there's an inverted yield curve which is pressuring goes if sits and, finally, there's a lot of risk in their commercial real estate portfolios. none of those three conditions have changed. liz: and yet wall street climbs
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the wall of worry. to floor show on whether investors should be worrywarts or embrace the tape and go with the bulls' flow. keith fitz-gerald and teddy weisberg are here at the ready. investors are pouring into all a kinds of investments including look at bitcoin and crypto-related stocks. bitcoin bun punched above $6 -- 46,000, then above 47,000, then above 48,000 this afternoon but still at a $47,616. keith, i use bitcoin only as a reference point that a lot of things are roaring higher. are you on team worrywart or team trade away? >> i'm team trade away because you don't get off a winning horse in the middle of the race. so i actually bought today. liz: tell me what you bought. >> i bought apple, microsoft and i bought palantir among other things. liz: okay. i'm looking at palantir, it's hitting another 52-week high. that one's been on an absolute roll. i'm looking year-over-year, it's up 208. did you take any profits?
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if. [laughter] >> well, you know, we take profits as part of a discipline approach to it, but i'm continuing to add and build a position. we've been after this one since $6, and everybody else figured it out about '21, what we saw is. liz: what you can't see is teddy going like this. cuckoo. [laughter] uh-huh, uh-huh. no, i'm kidding. teddy, you would take profits. but you're also a investing heavily in some names that have also run up. and for years you've been pounding the table on meta, back when it was called facebook. >> right. well, that goes way back. even a grind squirrel finds an aa corn every once in a while, liz. i think the market's getting a little frothy, quite frankly, and i don't think you can survive in this business for as a long as a i have, over 60 years now, without always a keeping one eye on the aces. when you walk into a movie theater and it's dark, the first time under do is look for the exits -- liz: you sound like my dad.
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look for the exits in case there's a fire. >> i think on the one hand don't fight the tape. the tape is telling us things are going to do better, but trees don't grow to the sky. i know they're all cliches, but it's getting a little frothy as far as i'm concerned. we don't know what a will stop that. there's all kinds of potential black swans out there, but so far the market seems to be ignoring everything including the sort of reversal on the part of the fed about interest rates, you know? well, we're to going to start to lower in mid march. maybe now it's not the spring, you know in wishful thinking is never a good strategy, and november and december were, those markets which were terrific were driven for the most part by a lot of pundits saying what the fed was going to do. the fed's clearly not doing what the pun if admits want them -- pundits want them to do, on the other hand the market is putting on a hell of a good performance. liz: keith, you were buying a lot of apple when everybody was fleeing it, so that turned out to be a great trade.
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nobody's really fleeing anything right now, are they? if you spot something, what is it, and what are you doing? >> well, that's an interesting question. and, you know, teddy, i've followed you for years, so hats off to you because i've learned a lot from you in the 20 plus years you've got a lead on me. when you come to a company like apple, you look beyond. you look where the trends a -- are, the themes are, the money. people are not going away from it because they realize there are trillions of dollars in a.i. and ecoatmosphere spending that are going to -- ecosphere spending. those are the kinds of trends and themes that i look for because that point somebody's just putting money over in the corner of the room, and i'm going to walk over and pick it up. liz: teddy, your trades in the bond market, you talked ec especially thively about this. you -- extentively about this. you guided a lot of people to park money in short. >>er term treasuries, t-bills. are you till on that trade. >> yes, we're still -- liz: really? >> we're still long plenty of stocks, and if new money comes to us, i'd still find an entree
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point for meta because i think it's still a stock you want to own, and there are stocks in the insurance and energy areas that we like. i mean, there are certainly things to do in the market. but it's just frothy. and i think getting 5% on your money, no risk, 3 months, 6 months, it's still the trade that we're doing with -- liz: which part of the curve? you look at 2-month, 3-month, they're still -- i meaning i'm just checking right now, you're looking at 4, high 4s, 5s. >> well, we say -- we don't go out any putt than 6 months. i just -- further than 6 months. it's just a place to hide while we wait for the dust to settle. i'm not quite sure when the dust is going to settle. there are so many issues that concern me. not enough to basically go into the bunker, but enough to keep in the treasury market with idle cash. liz: wow. 2-month treasuries, 5.4%. >> not bad. liz: keith, are you worried at
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all about new york community bank? today, obviously, it had a concerted effort by insiders and, by the way, we remember a year ago after silicon valley bank collapsed a bunch of insiders -- meaning management, executives -- at something like 48 different regionals started scooping up stock. it was pretty obvious it wasn't because they thought it was undervalued, it was because they were trying to send a message to the market, ah, look, everything's fine, nothing to see here. we're buying a the stock. yay. >> with i tell you what, having lived through the japanese real estate crisis firsthand and watch the familiarity of this on play, no, i'm not going to touch a symptom stock like that for a long time to come. and i think insiders, it's a noble effort but, you know what? i think there's a lot of problems. to teddy's point, there's a lot of things that are of concern to me finish. liz: look at this, it's below where it was at a its worst point a year ago march where most of them were really
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tanking, and a lot of them have not recovered, dead key. >> exactly. liz: not recoveried to precrisis from year-ago a levels. teddy. >> oh, i'm sorry. well, listen, they haven't recovered, liz, because the tape doesn't lie and the street the nose. i mean, there are still -- knows. there are still cheerily issues there. and you don't need to go there. there are so many other places you could go -- liz: true. >> -- including the apples of the world. i mean, don't fight the tape. all i'm saying i think we're just at frothy levels in the market. i don't know that fundamentally anything is going to change in the near term. we could get a technical reaction or a technical correction. if we do, it's probably going to be a buying opportunity. but, you know, it's -- you could say the same thing about some of the big drug companies. look at pfizer and bris old. those -- bristol. those stocks are overowned by everybody. they look like death warmed over, i don't know why they can't get out of their own way, but they're value traps. and perhaps the same thing is true with these regional banks.
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they look cheap, but they're cheap for a reason. and you don't need to go there. there's plenty of other places to go. liz: good to see you. teddy, in studio, no less. keith, we'll see you hopefully in studio at some point. thank you so much. >> thank you. liz: that natural gas market not cooking with gas. nat gas prices collapsing to fresh 3-year lows for the third straight day and, folks, i'm here to tell you it's not looking better in the aftermarket. the prices falling 28 this year alone. what does it mean for the energy infrastructure companies out there, especially the one that transports nearly 20% of all the natural gas consumed in the united states? the ceo of 'em bridge is here next to answer that question. different story for crude. it's actually up right now in the session, in the aftermarket it's up to $76.58, about half a percent. but the move not enough to lift the spired etf on this friday. with 48 minutes left to trade
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it's down 1.5%. "the claman countdown" is coming right back with so much more including the ceo of bet mgm ahead of super bowl sunday. ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones things will go wrong for your customers. but your business can make it right, with watsonx assistant. ai that can help resolve problems
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but look at this, $1.85 per unit? listen, it's a drag on energy companies. they're trying to deal with this, one of which reported earnings today. enbridge is the largest energy infrastructure company in north america. it moves about 30% of all crude oil produced on the continent and just under a quarter of 100% of, what, 25% of the nat gas consumed here in the u.s. so let's bring in ceo greg ebel. he joins us in a fox business exclusive. greg, it's almost like this is the tale of two fossil fuel stories ors right? oil prices rising. your biggest crude pipeline hit record volumes. nat gas prices though are cratering. how much of the miss in earnings per share had to do with the nat if gas narrative playing out? >> well, actually, nothing because our business, which is an infrastructure play, we actually don't make money on the commodity, we make money on shipping it. so just think of, like, fedex whether the product's high or low, they're making money on shipping it. you know, frankly -- so the miss
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was really related to some dilution on some shares because we're going to become even a bigger player in the united states on natural gas. we're actually going to be the largest combined gas utility in the united states taking on utilities in ohio, in north carolina and utah. very excited about that this year. finish so it's not if really having anything to do with the prices. there's two sides of the natural gas story, you're right. natural gas prices are low, but if you're on the consuming end, you're happy. so we take it from the producers and get it to the consumers. so a bit of a tale of two stories, and in either event we still get paid for shipping the product. liz: let me use your fedex analogy. yes, they get paid for delivering the package, but when the demand goes down, there are fewer packages to deliver and get paid for. if demand is down in nat gas, i'd like to know what you're seeing on that end if you can interpret what the end guys are doing as they send it to the consumer. >> yeah. i think today what you're seeing is ors in fact -- is, in fact, probably more the warm weather
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than anything. we've had great production of natural gas in the united states and in north america overall, as you know. it's one of those great resources like we have just like on the oil side, so it's more of a weather play right now. we haven't had much of a winter, but we're seeing continued growth in natural gas demand. and even with the ln if g pause in there that we've heard about out of washington, we expect to see exports actually double over the next decade. so it's full steam ahead on that front. but there's no doubt you're going to see some volatility in natural gas prices as they battle weather and other economic conditions. liz: you know, the gala georgialy herald -- calgary herald said you sent out a memo outlining about 650 job cuts. what's driving that beyond, oh, we just want to be lean and mean? >> well, i think, look, you always have to be looking at paring your businesses. so that's ooh really what it is. we're growing in different parts of the company. frankly, by the end of 2024 we'll have several thousand more employees than when we entered
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it. so i think it's a classic movement. -- move p. let's make sure we're the lowest cost providers and we've got the resources in the right praises. -- places. and, unfortunately, sometimes you take some peaking -- paring babb of people in certain locations. it's broadly disbursed, but i would argue what you see from all kinds of companies these days, what's the best facility that's -- fit that's going to get the best result to ultimately make sure we're set up for future success. liz: i want everybody who's listening, maybe half listening, to now really listen because i know a lot of our investors look for yield. you have a dividend at about 7.85. that's -- 7.85%. that's chunky. that's attractive to a lot of people. but what i find even more attractive is that it's the 29th year that you guys have consecutively raised your dividend. you know, dividend growth is really important to a lot of people, but consistency of that is equally as a important.
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why have they been able to do that? >> well, we definitely think that's a critical part of our investment thesis. again, very stable earning as you pointed out. 29 years of increase in the dividend. it'sal the -- also the 18th consecutive year where we met our financial guy -- guidance. i expect we'll do that again this year, and i expect the board will be increasing it for the -- now, i think the yield's a little bit higher right now because as you know interest rates have backed up, and we're very utility-like many terms of the stock and, therefore, as a interest rates rise, the yield goes up. as interest rates turn over, liz, which can who knows exactly when that'll be, but i don't think they're going any higher, when they turn over i think you'll see that yield come down which obviously is a result of the stock price going up. so, yeah, the it's a great it's a reason why i own as a much stock as i have, and i've never
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sold any of it. the dividend's a critical component of anybody's investment portfolio. liz: never sold it. you sound like warren buffett. buy and never sell. >> yeah. liz: thank you so much, and we're still waiting for the alberta clipper to come sweeping down from calgary and give us some snow. not happening right now. >> well or, you know, we like it either really hot or really cold in the energy business because we want people air-conditioning and warming, so we'll see what we can do. liz: thanks so much. thanks for coming on fox business exclusively. >> great to be here, thank you. liz: we've got a bitter note for hershey investors as the chocolate maker says earnings growth will take a hit this year and here's the reason, world coe ecoprices just -- coe ecoprices just hit a record for the ninth straight day. that's not the only commodity weighing on hershey's bottom line. we've got that story next. and x marks the spot. just 48 hours ahead of the winningest day of the year for sports betting sites, one of
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them places its bet on elon musk's x. the ceo of mgm will join us live with his brand new, exclusive partnership with the micro-blogging site and the biggest bets being placed on super bowl lviii on which team, which teammates, which teammates' boyfriends -- girlfriends and why. don't miss it, we're back in a moment. s&p at 5,026. ♪ do ♪ pecting more. more efficiency. more benefits. more growth. when you realize you can give your people everything, and more. thank you very much. [applause] ask, "now what?" here's what. you go with prudential to protect, empower and grow. with everything you need to deliver, you guessed it... more. one more thing... who's your rock? learn more at prudential.com
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liz: all right, just moments ago, and this is what the video you're seeing is involving, president biden meeting with german chancellor olaf schultz, just a few seconds ago a literally. the meeting comes in the wake of the special counsel report that questioned president biden's mental acuity. a subsequent gaffe biden made hours later and the following tornado of political chatter about the upcoming presidential election. to edward lawrence who is live at the white house. edward, i would imagine the press hung on every word of the president's appearance with chancellor schultz considering what happened at the press conference last night. >> reporter: yeah. and it largely focused around nato, talking about nato defense meeting. but you can see in the screen the president's note card that he took there. be interesting, we were interested to see if he was going to hold it, read from it, which he did when it was his chance. he put it to the side now instead of keeping it in his hands as he's speaking now. the president talked about nato, he said it's outrageous and criminal the u.s. congress has not passed aid for ukraine, and all of this comes in the context
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of that report that came out yesterday from the special counsel and president biden's hustled news conference from yesterday. questions about the statement that, report questions the statement of the president's mental state. the report from the special counsel found that no charges should be filed for mishandling classified documents because, and he said this in the full report, quote, his diminished faculties and advancing age and his sympathetic misdemeanor, these factors likely make it difficult for jurors to conclude that he had criminal intent. the report also calls biden a sympathetic, well meaning, elderly man with a poor memory. >> my memory is not -- my memory is fine. my memory, take a look at what i've done since i've become president. none of you thought i could pass any of the things that i got passed. how'd that happen, you know? i guess i just forgot what was going on. >> reporter: the report not likely to change any of the stocks, for the stock market, but the markets do like gridlock
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in d.c., and that's what we have right now. it changed the posture at the white house. the the the people closest to the president circling the wagons. here's the vice president. >> the comments that were made by that prosecutor, gratuitous, inaccurate and inappropriate. october 7th, israel experienced a horrific attack, and i will tell you we got the calls, the president and myself, in the hours after that occurred. >> reporter: and she's making the point there that the president sat down with the special counsel on october 8th ed and october 9th, and his mind was divided because they had a just received that phone call about the attack from hamas. back to you, liz. liz: edward lawrence, thank you very much. all right, as we look at the fox business alert and the markets, we are still above 5,000 for the s&p. 5,023. cloudflare rising toward the
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sky, nearing a 2-year peak after beating analyst estimates for fourth quarter earnings and revenue. the stock is gaining 20% if right now. it's a cloud security company, and it inked its largest new customer and biggest renewal deals during the quarter. crowdflare also a raised full-year guidance. yesterday fortnet reported strong fourth quarter results which come compelled crowdstrike and pal low alto to new highs. look at this, fortnet up another 4%. sentinel one one up 3% and crowdstrike up 2.33. all of these on your screen are hitting 52-week or longer highs except for fortnet. palling low network's up 2.8. zscaler up 2.75%. valentine's day may cost you more if your lover has a sweet tooth. erer she -- hershey is warning that world cocoa prices hit a
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new record for the ninth straight the session. part of the price rise is due to the fact that diseases impacting cocoa trees in west africa are markedly worse than in recent years. hershey is also warning rising butter and sugar prices will take a toll. bitcoin miner clean spark cleaning up after reporting its fiscal first quarter revenue more than doubled, and when we say cleaning up, try 31% gain here. the company has benefited from the price of bitcoin rising more than 50% in the fourth quarter. back in 2022 many competitors went bankrupt as bitcoin plunged. it's one of the few i that does what it does. take two stumbling after forecasting full-year revenue below expectations. it's falling 8.33. the video game maker blamed the underperformance on weak sales of major title nba2k '24 and softness in mobilize advertising. still boasting year e over year gains of about 52%.
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, and does mark the spot. bet mgm strikes a deal with elon musk's social media platform right ahead of the super bowl. a record 67.8 million americans are expected to bet on the big matchup between the kansas city chiefs and the san francisco 49ers. so we're going to talk to the ceo of bet mgm about how that deal with twitter came about as well as all the travis kelce/taylor swift bets. oh, my gosh. will he propose after the game, what lipstick is she going to wear. las vegas is hosting the big game this year. what else is in sin city? the gold and silver pawnshop, home of the hit reality tv show pawn stars. the shop's other than and star of the tv show rick harrison is this week 's podcast guest on everyone talks to liz. it's a brand new episode, it kicks off tomorrow. look at him when he was young. he opened the shop when he was just 24 yours old -- years old with his e dad. after many years rick has created a legacy within the
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pawning world. while on my trip to vegas for ces, i visited the famous store and rick to see all the a gold, vintage art, dinosaur bones is and more at his bustling vegas pawnshop. you've got to hear how he views the world. he's one of the smartest people i have spoken to in my career as a business newscaster. listen to my latest podcast, hear rick's story. amazon, apple, spotify, iheart radio, wherever you get your podcasts. closing bell, 26 minutes away. we are coming right back. the dow is flagging a bit, down 74 points. ♪ ♪ there are some things that work better together. like your workplace benefits and retirement savings. voya helps you choose the right amounts without over or under investing. so you can feel confident in your financial choices. voya, well planned, well invested, well protected. (man) what if my type 2 diabetes takes over? what if all i do isn't enough?
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liberty mutual customized my car insurance and i saved hundreds. that's great. i know, i've bee telling everyone. baby: liberty. oh! baby: liberty. how many people did you tell? only pay for what you need. jingle: ♪ liberty. liberty. liberty. ♪ baby: ♪ liberty. ♪ liz: just days before super bowl sunday one sports betting company just announced a blockbuster deal to grab your betting eyeballs before the big game. so we're going to walk you through this. if you go to the explore page on
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social media platform x, users are post already about the super bowl, that's understandable. right under you will see the bet mgm odds for the game. that's because x just announced an exclusive partnership with the online betting platform to show live sports betting odds within the app. now, while you can't place a bet on x itself, it does direct you straight to the bet mgm app or web site is. joining us now, ceo adam greenblatt to talk about this deal which kind of broke this morning. there were chatterings about a it a couple weeks ago, but how long was this deal in the work, and how did it come about? >> well, liz, we've been at this for quite a few months now, and it came about because the intention is to put bet mgm where our bettors are. and the conversation around live sports exists mainly on the x platform if, and so by putting our brand front and center in that live conversation, we felt that we would both drive new
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player acquisition, we would deepen the relationship with our existing players and and, of course, enhance our brand presence. liz: are you already seeing activity coming from the x web site onto the bet mgm site? >> we are. it was a softish launch -- liz: okay. >> we launched with the mobile if applications that have in the last few days gone live. liz: okay. i know you guys spent some money on a super bowl commercial. you've got this deal with, and. which one do you think is going to drive more traffic to the. andrea: and the web night. [laughter] -- to the app and the web site? >> i think over time the x platform are certainly do that. but we're very excited about our super bowl ad. it's being headlined by the winningest quarterback in super bowl history, and it's going to be on display for 100 million people in the u.s. you know, both play their role in really what is going to be an investment year for bet mgm
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where we're amply fight our presence and really driving our vision forward. liz: i'm looking at vince vaughn and tom brady. >> in the ad it's a story about how bet mgm is for everyone. of course, if you're over the age of 21. it's, it brings together for the first time tom brady, wayne gretzky as our headline superstars and, of course, the glue that brings it all to life is the one and only and very talented vince vaughn. liz: you know, the market leaders, fanduel which is part of flutter, through ther just went public, they had anish s po, draftkings, what is your distinctive positioning that desperates you from what they -- separates you from what they offer? >> yeah. so we lean into our relationship with mgm resorts in vegas, the sophistication that that entails, the quality of offering
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the real life experiences that are available in those the properties. and we lean into something we call omni-channel which is building a bridge between those real life and memorable -- memorable experiences and the digital world that we supplement with. liz: the american gaming association predicts something like 67 million american adults are going to place a bet on a super bowl. let's talk about some of the bets that you are seeing. this surprised me, i don't know, that 49ers are favored to win. is that what you are seeing, more bets being put on the niners or? and what other bets are really interesting to you that have a lot of muscle behind them? >> so this is the fascinating thing about a our industry. while the 49ers are a 2-point favorite to win the game, 73% of the bets are backing kansas city. and all the a recent money is behind kc as a well.
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so if kc do prevail is, by the way, that would be a very bad outcome for the book makers. really for the book makers we want to see the 49ers by 4 or more. in terms of novelty and interesting bets, now we're talking about the swift effect. and the swift effect, because we can't offer swift bents directly in the u.s -- bets directly because of regulatory and integrity reasons are, we're seeing that a manifest in a lot of interest in travis kelce. travis kelce for mvp,' even though not the shortest odds, the most bets. first scorer. and so it's -- anything where there is an option to bet travis kelce, we're seeing an outsized interest in those bets. liz: oh, my gosh. the odds to score a touchdown -- well, the odds to score a first touchdown. scoreagami, the unique final score. tell me about that bet. >> oh, now you've got me. liz: okay. well, we have it here.
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the current odds are 2800 for the outcome, final, unique if final score, the most unique final score. i don't even know what that even mean mean. i concern i i mean -- i means. what is this, kenny, down 10,000? never mind. i can't get the explanation at the moment. [laughter] let's go back to the taylor swift one. the taylor swift one, i believe, is about the color of the lipstick. it's interesting, you can only do that in canada -- >> you can only do that in canada, yeah. in the united states the guiding principle is that there needs to be the some kind of league oversight to ensure the integ integrity of the bet, the integrity of the event itself. and absent that, it's not part of the betting catalog. so we're not actually able to offer it. but in ontario the rules are somewhat different. liz: the power of espn bet as a competitor with the promotional arm and the widespread opportunity to promote, what makes them sort of a formidable
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competitor here, and how are you kind of working to shore up what you do against that? >> well, i think we have quite an extensive arsenal of promotional opportunities ourselves, the deal with x that we've just is announced, our super bowl ad. we also have a really cornerstone relationship secured just in the last few months with marriott international. we have a relationship with them where they will promote bet mgm to their 186 million marriott bonn voy members, so i think we're well positioned. liz: adam, you are well positioned for a very busy weekend, i would imagine. i know you're going, and i know you said you're rooting for the team that will be best for bet mgm, so that's the 49ers? >> always. whatever's best for bet mgm,
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that's where you'll find me. liz: adam greenblatt of bet mgm. we'll see you later, thank you. >> thank you. liz: our countdown closer says forget the ma magnificent seven, seriously. keith fitz-gerald loves nvidia, our closer says wait til you hear what he wants you to invest if in, and it rhymes with nifty. ♪ ♪
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liz: we are getting breaking news on the securities and exchange commission. chairman gary gensler may be facing an exodus of senior lawyers from crypto assets and cyber enforcement of the unit. charlie has this. >> it's a major story and major enforcement efforts in the cyber crypto area. he's had a bleed from various parts of senior management including enforcement over the last year and we understand there's at least three senior fishes, not saying their name but senior in the crypto cyber unit and floating resumes and sources in washington law firms that are seeing the resumes. not releasing names and deserve a degree of privacy and want them to get jobs and do what they want. we have calls into sec but these
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resumes are floating and they're in that one unit that has been on tremendous pressure. liz: wondering if that's why bitcoin is going nuts today. it was at 48,000 and just below that now. >> i don't know if this will move bitcoin, but it is saying something i think deeper about the enforcement division of gensler. we've reported this in the past and he's a tough task master and they >> people feel like they're going in 30 different directions and in terms of crypto, it's been controversial and unclear if he has regulatory authority to take the cases and he's bring ago lot of cases and it's almost regulation by enforcement. the sec generally works with the enforcement division here and
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office opportunistic inspections and compliance and examinations and comes in and looks at books and the mandate is squishy and merky and new law ands trying to apply the 33-34 act to the crypto business and like putting what do they say about a round beg in a square hole or vice versa. liz: shove it in. >> yeah and doesn't fit. thee senior members and people know who they have and they're bolting and it's not good for the moral at sec and it probably says something about what he's doing there. liz: they're overworked and understood paid.
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>> i think if the sec came back to me and said something, we've given them plenty of time just so you know, i think they'd say, well, they look for work all the time and these are people that are veterans and liz: maybe they'll sackmary to be easier on crypto and funds coming through? >> think it's easier? >> look ahead and say the spot bitcoin is approved and it's next. >> need more lawyers approving them and aerodynamic acting to the fact they're overworked and underpaid. if the sec regulatory mandate expands and more work for everybody including inspections people and enforcement people. i'm not the first, i don't know gary gensler and might be the nicest in the world and people
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know him saying he's prickly. >> he worked at goldman and head of cftc. liz: he's a leader. like a lot of people. >> i'm just telling you what i'm hearing. >> thank you, charlie. >> have a good weekend. liz: interesting way you heard it. >> this sex collusive on -- this is exclusive on the claman countdown. liz: thank you. you deserve to know if we're closing at s&p 500 and we're above at 5,025 and comes down to last couple of minutes because yesterday it did touch 5,000 seconds before the close but then the dow is down for the month just plat basically and slightly for the week. that could change for a few seconds and s&p closing one and a third higher for the week and
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nasdaq up 2 a 2.25%. a slew of analysts calling for investors to broaden out the portfolio beyond the magnificent 7 st stocks and count down closr has a list that's broad and fabulous 50 and liz: there are some magnificent names in here and add the 48, 47. >> it'll have to be the year we're see ago broad-based approach and look at companies in a number of ways and came back with something surprising and we got away from magnisent 7 and look at other 50 companies and 22 we had 20% upside in 2024. but look at where they were and
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some have 20% earnings per share growth and technologies in meltal and seemed like we're all over the board. creating wealth for people. liz: expedia had a management shakeup and i would assume you think it's a buying opportunity? >> that's right. that's the time to get in and people get nervous and that's a great time and what they're saying about crypto. no crypto on the list, liz. expedia, absolutely. timing couldn't be better. liz: names that pop out aside from expedia and it's having a very rough day. delta airlines, t-mobile, tower corp., corning, mastercard and i like this. it gives people a opportunity to see names and put homework on and is there one common thread beyond what you've talked about
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within just about all these? >> i think that's great. the common thing was stability and these companies have -- were not expecting radical growth and are expecting not ai driven but going on for the portfolio and companies that have been not languishing but not having the spotlight on them. this is the year for stability and value. and price per share button and they share that common thing. liz: chris, mcman, i like that there's a clue of sectors you cover with this. thank you for un-vail them here. today is the day for 5k and actually beyond, 5,026 first time ever, s&p has touched that level. have a great weekend

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