restoration hardware, you all know it's been one of my favorite stocks for a long time. that's up big. applied materials is up big. the moral of the story, you can probably chase out there and still find value. this market may have a long way to go. over to you, liz claman. liz: okay. charles, we are getting some breaking news on johnson & johnson. we will get that for you in a second. we are looking at a record-shattering final hour of trade. walmart, major comeback for retail sales in october, fueling the optimism as we head into the close of the week here in trading. coming up, retail guru hitha herzog here to talk the stocks you need to be shopping for. she will name the hottest holiday season names about to kick into high gear. after a week of fighting gender bias claims, goldman sachs and apple are wondering whether apple card users will refrain from pulling out the plastic during their shopping sprees this holiday season. we've got the woman that companies turn to, companies like apple and goldman and

fortune 500 names, the ones they run to when they need help getting their algorithms to go gender-blind. is the bias real and which companies are fixing the issue best? and despite reports of a stumble on the march to phase one, team trump insists it's two steps forward and none back for a phase one signing of the deal with china. coming up t trade expert who has fought the fight on the ground and with china. amy selico will read the tea leaves on the latest news on the eve of a weekend the deal should have been signed. plus vw is saying good-bye to tesla. taylor swift putting on boxing gloves to fight back against the man she says has silenced some of her music. and the stunning high-priced punishments that have now been doled out in the browns/steelers on-field melee. stocks are on the verge of a three-pe three-peat.

as the dow edges close to 28,000. how is this going to end? stay with me. we are less than an hour to the closing bell. let's start "the claman countdown." liz: breaking news. we have a volume and price spike in johnson & johnson. the stock is moving much higher right now, by about 2.33% after an oklahoma judge reduced the $572 million the pharma giant owes in the opioid case. he's reduced it to $465 million. you're looking at a stock that is now at session highs, as i said. standing at $134.09. unrelated but related in a way, let's get to hospital stocks and insurance stocks. they are hitting session highs as well. look at these names. united health up 4.33%. humana up 4%. president trump just moments ago discussion his administration's new rule that will force

hospitals to disclose the discounted prices they negotiate with insurers. it does not seem to be hitting the names like hca, community health and tenet health care. some of these are operators of hospitals. we are seeing a 10% jump in community health, hca up 3.75%, tenet up 3.25%. let's put it in a basket. that's what the xlv does, the etf that tracks the health care industry's biggest companies. it too at session highs right now, up nearly 2%. perhaps it might have something to do with the perception here. investors say the stock reaction to president trump's rule means that hospitals and insurers are actually none too concerned at all about the changes. the federal rules set to be enacted in 2021, expected to face tough legal challenges. at the moment, perhaps investors think it wasn't as bad as expected in some way, shape or form. we are watching that. let's look at swifties

everywhere. they are assembling behind pop star taylor swift who is slamming her former label, big machine, tweeting out to fans that they won't let her perform a medley of her old hits at the american music awards airing on abc this month, as well as they are preventing her the use of old performance footage in music for an upcoming netflix documentary on her. apparently this was the case as well when she headlined for a countdown gala for alibaba monday. big machine denying all of swift's claims. we are putting netflix up because they have the documentary. it's up 2%. alibaba up 1.5%. walt disney at the moment down 1.5% after hitting an all time high on wednesday. let me get to this. u.s. defense secretary mark echer rejecting any suggestion of bias in a pentagon decision the award microsoft and not amazon a $10 billion cloud computing contract. amazon announced its plans to challenge it saying that politics has gotten in the way

of the contracting process. this was known as the jedi deal. it was awarded to microsoft in october. microsoft moving up 1%, amazon down slightly under 1%. we've got a tale of two chip makers in this final hour of trade. applied materials sitting at the top of the philly semiconductor index which hit a record. nvidia, though, at the bottom after a disappointing fourth quarter revenue forecast. nvidia pulling back by 2.5%. first quarter guidance came in well above estimates, earning it an upgrade and speaking of upgrades, we have a double double for grub hub after barclays upgraded the stock to overweight from underweight and boosted the price target on grub to $51 from $27. as the stock moves higher by 3.75%, it's still at about $39.96 on the assumption that a potential acquisition could value grub hub at more than $50 a share. the bank says online food

delivery service may be gobbled up by uber eats. which is obviously a huge player in this food delivery space. in one of his biggest home runs ever, warren buffett added nebraska furniture mart way back when to his berkshire hathaway portfolio. 1983. he bought it from a former russian jewish immigrant and the store that she built was worth $60 million back in the '80s. that's what buffett bought it for. now buffett is adding to his furniture portfolio, revealing a new stake in rh, formerly known as restoration hardware. restoration hardware jumping 8% after berkshire hathaway revealed it owns 1.2 million shares of the retailer. that's worth $206.3 million. that makes berkshire the fourth biggest stake holder in rh. berkshire also announced an increased stake in oil producer occidental petroleum. the company purchased $332

million worth of shares last quarter, making it the 17th largest investor, trying to help occidental buy anadarko. that was the deal buffett struck to get in on occidental and provide them with some cash. it was not all good news, though. berkshire decreased its stake in three major companies. wells fargo, that's interesting, folks. buffett has supported wells fargo through i got to say, thin and thin. there hasn't been a lot of thick lately for wells. he also slightly decreased his standing at apple and phillips 66. even with the slight trim in apple, it still remains berkshire's single biggest investment by dollars. but buffett is holding on strong on names like bank of america, coca-cola and delta airlines. with the bull market going strong and buffett still buying, what do our traders think of warren buffett's latest moves and guys, personally, the market's looking at a three-peat of records. teddy -- that isn't teddy.

oh, my goodness. okay. let me get to chris. you get to take this first. chris robinson. >> yeah. i'm here. liz: go ahead. what do you think of buffett's stake and of the three-peat? >> well, the three-peat is nice. i think we are going to probably see more of that between now and the end of the year as people chase this market. we talked about that for awhile. if you look at warren buffett, his average rate of return over 50 years is a little over 21%. so he doubles his money every three and a half years. that's not somebody you really want to step in front of and do the opposite. so whatever he's doing, all based on the book "the intelligent investor" seems to work. it's dangerous to try to step in front of that type of investing success. you know, i think he's doing the right thing. he obviously sees an opportunity to put his money to work. that's exactly what he does. he likes to buy dollars for pennies and dimes and we'll see,

we will know in five or six years if this was a great buy. liz: well, it might be even earlier than that, thomas. down at the nyse, there have been many a stock buffett bought, they sometimes moderate depending on the headlines, but he's got an incredible track record for purchasing most companies that end up adding value and adding shareholder value. what do you make of this move, at a time when we do see markets at record highs? it's an interesting play. he usually waits until we see big pullbacks. >> where else you going to find value with the markets? i love the occidental deal. $300 million behind a $10 billion preferred, it's just phenomenal. you know, this combined company is going to produce 1.3% of the world's demand on a daily basis. 1.3 million barrels a day. this sector is down and out. that's what a value investor does, take the long term leveraged bet on oil in occidental, backs it up with some equity plays, and this is

just going to be a phenomenal deal. this sector is the worst performing sector, exploration and production, for this year. next year's earnings, we are expected to have the highest earnings growth, 25% earnings growth, in exploration and production. liz: i think you're right on that. phil, we are just off session highs. the dow is now up 200 points. we are on track for records for the dow, nasdaq, s&p. what's going on in the water across trading floors that everybody says pile in on a day like this? >> i don't know what it is, but i want more of it. give me some more of that stuff. i'll tell you what. listen, we have been -- listen, we have been plagued with a wall of fears. we were pricing in recession, the end of the world, you know, never-ending u.s./china trade deal. all those things look to be not true. if you look across the board, for example, we were talking about energy. the international energy agency came out with a report today or yesterday that said you know

what, oil demand in the third quarter actually doubled globally. so that doesn't sound like a global slowdown. that shows you that there's a lot of people that have been really tuned down on the overall economy and they were missing out. now it looks like we got a u.s./china trade deal. that looks good. it looks like the impeachment thing is going nowhere. so very positive today. liz: yeah. you know what, i've got the perfect segue to our next story, gentlemen, thank you. have a great weekend. let us take you to washington, d.c. right now. speaker nancy pelosi and house democrats are tackling the united states mexico canada trade agreement. edward lawrence is on capitol hill and edward, we've got some developing news here that the goal remains to get this done by the end of the year. are we any closer to that? reporter: she's using words now, the house speaker, using words like imminent when talking about usmca and she still hopes to have it done by the end of the year. however, house speaker nancy pelosi says she would like to see some tweaks to it, specifically in jobs and the enforcement area but again,

hoping to have a vote scheduled by the end of this year. today, white house economic adviser larry kudlow positive on the news. listen. >> -- remain very optimistic this thing is going to pass this fall. and usmca by the way, it covers so much ground, it's a template. it will boost the economy by at least half a percent of gdp. reporter: commerce secretary wilbur ross says today if the usmca is put up for ratification vote, it would overwhelmingly pass in the house of representatives. now, even moderate democrats in some states that went from red or districts that went from red to blue last time starting to have their voices heard, starting to push for a ratification vote. the federal reserve is also watching for this uncertainty to clear up. listen. >> i think if usmca can get ratified in the next six months, i think that would remove one uncertainty. we are watching how brexit gets resolved and we can get a little

bit of stabilization, maybe an early stage china deal. reporter: liz, you know federal reserve chairman testified that if some of this uncertainty gets resolved, then the business investment might start picking up to add along with the consumer spending, which they see increasing into the next at least six, 12 months. back to you. liz: thank you, edward lawrence. we appreciate it. all right. with 47 minutes before the closing bell, take a look at nike near the top of the dow 30 after hacking its dividend by 11% to about i believe it's 24.5 cents for that dividend. nice move on nike. and their emmy award winning campaign starring colin kaepernick is the top talk of the football world because tomorrow, teams from the patriots to the giants to the buccaneers will come out to watch the 49ers -- former 49ers qb at a workout backed by the nfl which could lead to maybe a return for the outspoken player

after three years off the field. but you know what? kaepernick's controversy is looking like very little compared to last night's on the field violence. up next, the shocking fallout engulfing the browns, steelers and myles garrett for what he did right after ripping off steelers qb mason rudolph's helmet. "the claman countdown" will be right back with the penalty that has now been handed down. we made usaa insurance for members like martin. an air force veteran made of doing what's right, not what's easy. so when a hailstorm hit, usaa reached out before he could even inspect the damage. that's how you do it right. usaa insurance is made just the way martin's family needs it - with hassle-free claims, he got paid before his neighbor even got started. because doing right by our members, that's what's right. usaa. what you're made of, we're made for. usaa

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believe myles garrett? swinging a helmet? >> there will be some ejections. coming out of this. >> there may be suspensions. >> that's right, suspensions. liz: the helmet slam seen round the world that left viewers of the browns/steelers game last night has now resulted in the longest suspension of its kind in nfl history. cleveland browns defensive end myles garrett has been pulled off the field for the rest of the season at a minimum. that's six games. after he ripped off steelers quarterback mason rudolph's helmet and then clubbed the rookie qb's exposed skull with it. shares of the browns big name sponsors are mixed at the moment. so far, no formal reaction from any of them on the incident or the punishments doled out. talking about anheuser busch, sherwin williams, dr. pepper. as the former adidas backed defensive end who had been seen as a rising star, is he now

unsponsorable? hitha herzog is here to analyze it. it is brutal to see that. let's be clear. myles garrett has formally apologized in a statement to rudolph, to both teams, et cetera, but is he untouchable now by any sponsor? >> yeah. that is an understatement. i think in his apology he said his emotions were running high during the game, it was a lot of pressure, but this is why you are a pro athlete. part of the reason why they select you to play on a team like the cleveland browns is not only you are athletic, your athletic ability, but your ability to stay emotionally even during these times. to your point, adidas was once interested and was backing him for a period, a time period. he was looked upon as the next big thing in professional sports, especially within the nfl, and now all bets are off. liz: you know, there's this website, open sponsorship.com, where these guys can put themselves out there and say here are my likes and my interests.

myles garrett, i looked at this, it said poetry, art, pets, dinosaurs and family. those are all very sweet and passive and nice, and maybe so, but who's going to give him a second chance? >> it's very unlikely that he will probably get a second chance. when you think about what people have gotten, their sponsorships revoked for, talking about ray rice, talking about michael vick, you know, i know that -- liz: tiger woods. >> right. myles has been open about him adopting this animal, this puppy, trying to be this family man, gentle giant. there is no way. liz: it looked very very bad. colin cowherd on fox sports has been going off on anybody who tries to blame it on the steelers' qb. the whole thing is really horrifying and we will be watching this. again, you got colin kaepernick tomorrow in the open, actually it's going to be a closed tryout. we will be watching all that. we will have more on that on monday. let us dovetail to holiday

sales. your expertise is amazing in this. who are you expecting to be very hot? >> so when you look at how these retailers have been performing over the last 10 to 12 years, ever since i have been covering this, we are looking at these retailers that are really trying to ramp up on their online business. so when you look at, for example, walmart just reported out earnings yesterday, completely killed it with their reporting. they really spend a lot of money on capx for online sales. with that said, they are also pouring a lot of money into their app. so people can go into the store and orient themselves, they are going to be able to look at where specific items are located in the stores. people within the stores, the sales people, will be able to help them and bring them items. so also target is trying to also ramp up on the tech side. that's very important. liz: how about on higher end names? october retail sales rebounded. we got that number today. it looked very strong. that was a relief, considering

september was very ugly and worrisome. so the consumer is strong. why not go into a burberry or apple or some other retailer where there are opportunities for the higher priced stuff that could then help their bottom line and help the stock? >> well, on that luxury side, you are certainly seeing strength but it's not coming from the united states necessarily. it's coming from overseas. you are seeing a lot of the chinese customers coming in, buying not -- i mean, within the united states but a lot of the purchases are coming from overseas. with that said, you are seeing this huge launch of nordstrom, for example, just up the street. liz: oh, yeah. huge. this is the new nordstrom store. >> exactly. you are seeing department stores really ramp up on the aspirational brands they have. that's what's going to carry stores like nordstrom, stores like even macy's into the next quarter, into positive retail sales. liz: can i just make a quick mention about champion? my 15-year-old suddenly started

wearing champion. i said you mean the yoga pants i buy at target? champion's hot now. >> they are doing a lot of different collaborations. liz: when you go on black friday, for people who don't know hitha, she's crazy. at midnight, this woman will actually hit the stores to do her research. where will you be going first? we can show you from years past, what we posted on twitter. it's hilarious. >> as soon as dinner is finished, i get in my car, i head out to the target and the walmart in paramus. i don't know if you can see some of the pictures here. liz: your husband, seth. >> my husband. that's really funny. so what i like to do is see how many people are standing in line, if there are any, and what the discounts are. i hit walmart, target, kohl's if they're open, then the best buy. then i go over and start to hang out in the malls and see what abercrombie and aeropostal. 155 million people will go out and shop over the next five days during black friday and into

cyber-monday. a lot of people. liz: i'm all about the gucci outlet. >> take me with you. i need a handbag. liz: great to see you. rest up ahead of black friday. crazy woman. up next, the woman who has taught hundreds of fortune 500 companies how to be againgenderd is here to talk about the apple card controversy and how companies need to stop, drop and roll when it comes to gender bias in artificial intelligence. "the claman countdown" will be right back. imagine traveling hassle-free with your golf clubs.

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liz: goldman sachs and apple have had a heck of a week defending their flashy new apple card partnership. they have been under the microscope since sunday, when a tech entrepreneur along with apple co-founder steve wozniak cried gender bias after the two men both said they got much higher credit lines of credit for their apple card

applications than their wives did. the criticism has sparked a probe by a new york regulator. also, it has gotten the attention of 2020 democratic presidential hopeful senator liz warren, who blasted goldman sachs, calling its apple card algorithms quote, discriminatory. she now says the algorithms should be scrapped if these claims cannot be explained away. our next guest has been called upon by fortune 500 companies all over the world to spot and eliminate bias in their technologies and systems. we bring in catalyst president and ceo, lorain harrison live in a fox business exclusive. when you heard this, were you surprised? >> i was not surprised, because i come from silicon valley. in fact, myself, i was involved in technology since the mid '70s and bias is something that occurs with people, it also occurs with technology. but today, where technology is such a part of our decision

making, it's important that we address bias in our technology and that people are mindful of that. catalyst actually just came out with a new report on women and the future of work, and we are focusing on ai and bias. liz: what's interesting is there have been proven cases. amazon had to scrap in its initial trial phase a hiring a.i. algorithm that was supposed to sift through resumes but what they found was that this a.i., this algorithm, was basically a recruiting tool that kept downgrading or rejecting women due to certain keywords and the words were things like women and women's. so that would blow out anybody who said i attended an all women's college or i was the president of the women's chess club, i was the captain of it. these machines are actually teaching themselves to prefer male candidates? >> well, that's exactly right.

so machine learning means that computers are taking data, they are analyzing the data and they are upgrading their algorithms automatically based on the data. so in the hiring process, let's say for technology jobs, where traditionally there's already bias baked into the hiring process because they are looking at men more, people who are gamers, people who do cybersecurity, they have already baked in bias and the data is already biased and the computers will highlight that and make it even worse. liz: according to the world economic forum, only 22% of artificial intelligence and only 12% i believe of machine learning candidates are female. so we've got a long way to go. but it's against the law so i am giving a pass to the actual management at goldman sachs and apple because these are two companies that have been way ahead on things like lgbtq,

making sure they are hiring. i know goldman was among the first of the big banks to say here, we are giving same sex partners health care. so i don't think it's intentional but who are the companies that have been proactive and said you know what, we are fixing this, help us fix it? >> the companies that have a lot of experience in this area have been doing consumer data for a long time, like bank of america, for example. they are actually one of the big catalyst supporters and they have been looking at data from -- around bias for a long time. and what we need to do is not -- we need to build diverse teams that can identify bias and build the right type of algorithms. we've got to have teams that have more than just technology to look at who -- they need to have human skills to be able to identify it. bank of america is a good example. another is microsoft. microsoft is doing a lot in the data area in really identifying these issues. liz: sales force, you had on as

well. >> another example. liz: indeed. indeed. it's a long way to go but it is disturbing, is it not, that machines teach themselves to prefer male candidates? >> well, what we need to do in this brave new world of data and technology is to have better processes for oversight. we've got to make sure we don't build in these biases. artificial intelligence can be used to identify bias as well as build in bias. so there's two sides of this. so building the right teams that are diverse and inclusive and being able to have the right skill sets around this will help that. liz: it's great to have you on the good work that catalyst is doing. thank you so much. the dow is within 30 points of the 28,000 mark right now. stay with us. it is an interesting day for the bulls. they are having a party.

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gerri: i'm gerri willis with today's fox business brief. apple announcing itsdownloads [ from its app store in the wake of saying 42 people have died in the u.s. have vaping and e-cigarette use. sportswear giant underarmour popping despite the "wall street journal" reporting the company's

top executive scrambled in potentially unethical ways [ inaudible ]. the accounting practices are under investigation. and volkswagen shutting down rumors about a partnership with tesla, saying they have no plans to collaborate with the ev maker after the german ceo and tesla's elon musk exchanged compliments and discussed the future of electric vehicles in germany. up next, do we hear an echo? the trump administration insists phase one of the china trade deal almost done but we heard that before. what will finally get the deal signed, sealed and delivered? more on "countdown" next. it's been reported that there's a cyberattack on business every 39 seconds. ouch. i don't even want to think about it. comcast business has a solution. we go beyond fast with a cloud-based security system

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liz: the trump administration signaling again that phase one

trade talks with china may be entering the final stage. commerce secretary wilbur ross chiming in on the state of play on fox business this morning. >> we're much farther along in terms of detail. there are calls all the time, another call today. there's a lot of work being put in on this. liz: white house national economic council director larry kudlow joined the chorus, telling the council of foreign relations last night that quote, the mood music is pretty good and that has not always been so in these things. even white house trade adviser and china hawk peter navarro said we're going to get a deal, we're on a path to an agreement. let's bring in the u.s. trade representative office's former senior director for china, albright stonebridge principal, amy selico. give us the real deal. are we close to a deal or not? >> you never know until you actually have a deal, but i will

say i'm optimistic for a couple of reasons. one, i don't think the administration would be signaling we're this close if the things that are keeping us apart were truly impediments to a limited deal. so i'm optimistic on that front. secondarily, of course, i think both sides need this limited deal. so there's an impetus in beijing and in washington, d.c. to get something papered over so that both sides walk away with something, then there's a continuation so we can get to the more thorny issues, where we are going to have trouble resolving. liz: you talk about deadlines. everybody's got a calendar on their office desk. today is november 15th. december 15th is the deadline before the new u.s. tariffs kick in on chinese goods. putting china aside and punishing them, what does that mean as we are then going to be just, you know, ten days away from christmas at that point?

>> indeed. i think having a deadline is very useful for these negotiations, to get us to an agreement so that for the chinese side, they don't face almost $160 billion worth of their goods finding themselves in a position of having 15% tariffs imported into the united states and of course, for american consumers facing rising costs on those imports. so both for china and for the united states, there is an interest in not seeing those tariffs put into effect a month from now. of course, both sides want more than that. the u.s. side wants firm commitments on agricultural purchases, something i think really will be a deal breaker if the chinese can't give that. but then the u.s. also wants china's commitment to continue talking about intellectual property, forced technology transfer, fentanyl trade, currency manipulation and market access barriers for our companies and the market.

i don't think we are going to get that as part of this interim deal, but i do think it will allow us to keep talking so that we can get there eventually. liz: before we finish, we are looking at a lot of technology companies who do business with huawei and zte, the two big china technology companies. i would agree with you, and be optimistic if it weren't for something that actually happened yesterday. attorney general bill barr had come out and said in a letter to the federal communications commission, this was his words, these were his words, that chinese tech giants huawei and zte quote, cannot be trusted. the fcc expected to vote on a proposed ban a week from today. that could only add sort of negativity and fire, right? >> well, we have to be honest here, there is more negativity in the u.s./china relationship, and technology competition and some decoupling of our economies, particularly on

technology flows, is happening. so despite that, that continued increasing pressure on the overall relationship, i think having a phase one deal, a small limited phase one deal, at least takes some of the tension out of the relationship. tensions that are going to persist. liz: former senior director for china at the office of the u.s./china trade representative, thanks so much. charlie breaks it next on the smart money's latest moves. what the hedge funds are liquidating right now, next on "the claman countdown." heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead.

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right now, there's a hedge fund implosion due to wrong way bets on three stocks in particular. charlie gasparino. >> those stocks are off their lows but if you did a one-month chart on them, you would see a major implosion on all of them. chesapeake obviously trading at very depressed levels. the bonds of each are getting crushed. liz: let's show one-year charts. >> it is pretty interesting. let's see the next one. liz: terrible. >> the next one. liz: intelsat. >> it's a -- liz: had been a $28 stock. pg & e is a disaster. >> for a long time. it was trading at $7 a share. here's what we can tell you. what's interesting about this story is that markets are hitting new highs. if you are in an index fund, in an average like the s&p 500 you are doing pretty well. you're not paying a lot of money. if you're in a hedge fund,

there's a lot of hedge funds taking it on the chin. i'm not saying they're going out of business but they are getting crushed, and they are getting crushed, what we understand, being long on these three names. not just the bonds but also the stocks. not just the stocks but also the bonds, which are getting crushed. so what are they doing in the face of this, and one interesting thing, a lot of people thought fannie and freddie was trading off last couple days because the head of the fhfa, the head of the housing agencies, says we won't go public for another two years and will go slow in terms of recapitalization. sources are telling me fannie and freddie has been off because of the implosion of these stocks. again, that's today. they bounced back a little bit. these stocks are down tremendously. hedge funds are taking losses on the stocks, the bonds. they are liquidating positive positions on fannie and freddie. fannie and freddie is off its highs. it was as high as $14 a share a couple weeks ago, now it's down $10. that is to pay for this. now, there's two morals to the

story. number one, just because shares trade off doesn't necessarily mean that there's something wrong with the stock. fannie and freddie preferred is considered a fairly good bet just by a lot of market analysts. even if you don't like the common, fannie and freddie preferred should do well in a recapitalization. okay? so this is not related to those comments. the second thing i'm going to do is pretty interesting. it's that hedge funds are getting crushed in this positive market environment. one hedge fund we have come across that was long intelsat is points day capital, big hedge fund, multi-billion dollar hedge fund. we understand long intelsat, not the others. we understand they did not, they are not liquidating major positions but they are getting hurt. liz: intelsat. >> intelsat, i'm sorry. they are really getting hurt, intelsat. sat. sat. sat. by the way, you know, just to put a fine point on some of my reporting here, the other day we

heard that legere might have gone to wework. now people are saying it's not happening. liz: but you had said -- >> it ain't going to happen. i basically said they spoke with him but i was doubtful. it just didn't make sense. the whole thing was crazy. liz: what does he need that for? >> he's going to walk into that s-show? did you see how much money they're bleeding? plus he's already negotiating a deal for another softbank. remember he's merging -- softbank wanted to bring him into wework, he's negotiating with softbank, he's negotiating to get the merger of softbank after the sprint merged with t-mobile. this is crazy. whoever thought he would do this? what reporter said that? what? who? liz: just let him go. charlie, thank you. have a good weekend. charlie gasparino. closing bell, we are eight minutes away with another record day in sight for the dow, the nasdaq, the s&p. how much longer can this euphoria last? maybe much longer. >> forever! liz: one of the top women wealth

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♪ liz: stop what you're doing. we're four minutes away from the closing bell ringing. what a week. right now s&p and nasdaq are both at session highs. markets strongly in the green this week as we look at new records across the board. today will be the dow and s&p's third record closes this week alone. a little bit of a three-peat there. the second record close for the nasdaq for the week. will we get to dow 28,000 next week? let's bring in private wealth advisor, senior portfolio manager, ubs global wealth management. you're talking to high net worth people who, are they still all in the market? are they nervous? what are they looking at here? >> my advice to clients just to

validate the fact that they are worried about the right things but not necessarily the relevant things when it comes to the market and their portfolio construction. and so what we want to be focused on is data. right now the data looks good. all-time highs in the market. we've got 50-year lows in unemployment. earnings look good. the fed we had a good meeting this week with powell. investors find that reassuring. liz: third quarter consumer spending rebounding a little weakness in the manufacturing sector. that is to be expected. nothing is always perfect. do you believe the bull run continues for much longer? it will go on a couple months, anybody can guess that. how much longer? >> a lot of skeptics are saying this is the longest bull market in u.s. history. liz: say that two years ago. >> saying that two years ago, exactly. i think most people are focused on too short of a time horizon making that statement.

in reality but look back to 1998 where we are today, when i started managing money, you can argue we were in secular sideways market for that time period, we're starting to break out. on that front, one of the most important things people can do, warren buffett earlier, had comments about the investing style, actually what the wealthiest people do. what billionaires do. people who build successful businesses. something we highlighted in ubs billionaire report. it came out this week. neil: on the screen are sectors you say are your techtores. >> yes. neil: you have communications services, discretionaries, consumer staples. what about these three look like green on screen for you for quite some time? >> they have been green on the screen. they have been able to navigate around all tariff volatility. when you look at sectors. they are less susceptible to policy political uncertainty. we hang our hat on p-e ratios,

earnings momentum. sidestep some concerns people have about policy. that said, if you're looking for value in the market, you had commentary earlier on the health care sector. not a sector we're overweight in bees. investor are looking for left behind sector that had big policy overhangs, that would be an area to look at. we had earnings surprise there is as well. liz: oil also has been a energy sector too. they have been buying low, certainly. where have you been our whole life? on a day we see three new all-time records. people are sitting in the chair saying we're worried. that has not served our viewers well if they sold on the news. >> not at all. i think a lot of people missed this market because they have been too invested in the politics and not invested enough in the economic data. so my advice to clients over the last frankly 20 years decouple the two. understand how important it is to stay close to the information that matters. liz: sherry paul.

we'll move you in. there is futon in the back. sherry paul, ubs thanks for having us. we appreciate it. [closing bell rings] we get the fireworks. records for the dow, the s&p and the nasdaq as we close out the week at session highs. that will do it for "the claman countdown". melissa: ending the week with records on wall street. all three major averages closing at all-time highs as investor activity outweighs d.c. gridlock, the dow just shy, actually, just above it looks like, 28,000. 28003. i'm melissa francis. you're not connell. >> i'm deirdre bolton in for connell mcshane. nasdaq 12th record close under president trump.