earlier. charles: is dow is off 165 points. that's great news. we were off more than 300 points ten minutes ago. the last hour of trading is always nuts, but liz claman, it is going to be a blockbuster today. liz: i'm sweating already. i'm glad you just mentioned boeing. it is helping the picture, but we need to look at this breaking news and specifically the volatility index. as we head into this final hour of trade, you need to stay with us because the impact of the wuhan coronavirus is spreading. the vix or fear index is spiking about 15% right now. but it had been up 18%. now, as we speak, businesses around the world, from disney to mcdonald's to imax are shifting their plans or outright closing up shop. a second case in the united states has just been confirmed this afternoon. we're tallying the latest numbers, but since monday, the death toll has more than quadrupled. mcdonald's and disney are dragging down the dow 30 as

disney closes shanghai disneyland and mcdonald's shutters dozens of franchises in central china. we have a hawkeye on oil. china is the largest importer of crude. it is now getting very close to falling below $54 a barrel. the virus not the only fear in the global markets. wait till you hear which technology alphabet ceo says is a more profound discovery than fire or electricity, and why he says it needs to temporarily be banned. plus the jet boeing says it is going to test today. eli manning's last play. and pharmacies in midtown manhattan, we checked, have run out of face masks. we're less than an hour to the closing bell on a very busy friday. let's start "the claman countdown". ♪ breaking news, can we put up the ten year yield? we need to show this to you because investors are dashing to

the safety of treasuries, standing at 1.67%. this as cases of china's coronavirus continue to multiply, with 26 people now dead and another 800 plus infected. the fear trade is in full swing. that ten-year yield had touched as low as 1.67%. that was the lowest since november 1st. and sunk below the 1.7 level that was hit january 8th dur the iranian -- during the iranian missile attack on a u.s. base in iraq. for the moment it is standing at 1.68. earlier today the high was 1.76. it shows you how much people are piling in, how quickly they are piling in to safety of government treasuries. it would be a lot worse on the dow, which is down 153 points if it weren't for boeing. look at this intraday chart, folks. it is largely responsible for at least much of the reversal of the markets in just the last 20 minutes, after the federal aviation administration told airlines that government

approval for the 737 max, that embattled jet, the return could come before mid year. the faa said it is quote pleased with boeing's progress in recent weeks and is heading toward achieving key milestones. this after the plane maker announced it is considering another production cut of its 787 dreamliner. totally different plane. we've got a case of one company's earnings coming in so strongly they are pumping up an entire sector. that would be intel, the world's largest semiconductor maker beat earnings estimates with just monster numbers in data center demand. not only did intel stock, which hit a near two-decade high and still up 7 1/4%, not only did it really spike intel, but this morning intel propelled the whole chip basket known as the philadelphia semiconductor index to an all time record high. right now it's reversed getting swamped along with the broader market, down about 1%, but the soxx index hitting

never-before-seen levels earlier today. we have outlined the human toll. let's get you the specifics on the business fallout. shares of cruise giant carnival corp., we need to show you those because they are very close to session lows, down about 3 1/2%. standing at $47.69 a share. the "wall street journal" reporting at this hour that carnival cruise lines is not allowing any individual from wuhan, the site of the coronavirus outbreak to board any of its cruise ships. now, it is just after 4:00 a.m. in shanghai right now, and the dates of disneyland and disney town in the chinese metropolis are locked down. let's flip it over to disney stock which has been suffering a bit today, down 1 1/2% at the moment. no word on whether the 1,000 acre location, which gets up to 10 million visitors per year will even be reopened. flip it over to mcdonald's stock, the company says it has to shutter all of its

restaurants in wuhan which is a city of 11 million people and four neighboring towns. not just u.s. companies that are locking down. a chinese coffee bar chain could reportedly see 1500 of its stores affected by the outbreak. look at that stock. it is getting hammered right now, down 6 1/2% as businesses grind to a halt on the mainland. it had been down 8%. those shares overall have taken an outside hit. they are down about 13% since the first coronavirus death was reported last thursday. we want to bring in a former health and human services official who is now vice president and healthcare policy analyst at raymond james. chris, welcome. you span the spectrum with your hhs experience paired with your business analysis, how serious is this? >> i think from a global perspective, people are underappreciating just how many people are infected in china, and based on our checks, both in the government and more importantly with people who are on the ground in china and work

directly with chinese hospitals, the number of people who have been infected or are infected is probably ten times the number we have currently reported from the chinese government. and the same thing with the number of deaths. globally i think people are underappreciating it. i think in the u.s. people are more scared than they need to be. if they are healthy and you haven't traveled to wuhan, you are probably fine. we had a second potentially third case in the u.s. reported today. i think over the next several days, we will probably have 10 to 20 cases in the u.s. but until you start seeing transmission between individuals in the u.s., i feel pretty comfortable with where we are here at home. liz: you and i -- i'm a doctor's daughter. i'm fine. i don't worry about this, but i had mentioned to our viewers that the night before last, i went into a walgreen's in new jersey. they had no more face masks. then, you know, we sent our producers. i said let's get some face masks so we can hold them up.

we went to three different midtown pharmacy companies, whether it was cvs or dwayne reed, and he took pictures of empty shelves which we are showing right now. they are sold out of face masks, and this is new york. so i'm not sure people are waiting around. from an investment standpoint, put on that hat at the moment. give me a sense of what you see. >> i think from an investment standpoint, we've seen really two pieces, those industries that are exposed in china i think you have to assume that it is going to go on for a while. any time you basically sequester 40 million people in a country, almost the size of california, for perspective, you're really going to impact consumer goods. you're going to impact services industry. it is just the reality. now, in the u.s., i think we've seen -- we've seen some stocks move up higher saying hey, we may start investing in -- or developing vaccines for these diseases. and i would be really cautious

of those companies because unless the government is going to put up money and start partnering with these entities -- liz: they might. >> as they did with ebola and pandemic influenza, but they didn't do with sars, i think it is -- you are not really going to see a real movement because i'm not convinced there's a commercial market for this. liz: we just saw the company -- is it -- which is the nano -- it's up 49%. this is one of the vaccine makers. can we put the vaccine makers up? there's that. nanoviricides is up at the moment. we have seen this with the ebola crisis where when we had some companies coming up with vaccines or at least efforting that, they started to spike. investors should be very careful. i agree with you on that.

gilead has a statement for us, they said they are using their ebola vaccine, what they use, that therapy, trying to figure out whether it works for the coronavirus because in the past it's worked against the sars virus which is within that family. gilead telling fox business we are working with both u.s. and chinese clinicians on this trying to work as quickly as we can. the chinese are trying to build hospitals within ten days. did you hear about that, chris? i'm interested to know where you see this going. do you see a quick flame out? or do you see something with a much longer vapor trail? >> i think we will see a much longer vapor trail. i appreciate that the chinese government said they plan to build a 1,000 bed basically mobile hospital in the course of a week. in the u.s. just to comfort your viewers here in the u.s., the u.s. government can do that in less than 48 hours. we have many of those in the strategic national stockpile as well as tens of millions of masks if the public were ever to need it, which i don't think we're going to. for me i think in china these

cities will be shut down for days and/or more than a week. this is not going to be just a 24, 48 hour flash in the pan. you have to get outside the incubation period for this virus and see a dramatic decrease. liz: chris of raymond james, thank you very much for joining us. check the dow, still down about 164 points, but remember we were down at the low of the session 316 points. still we've got the fear trade in play as the ten-year yield is falling. we're keeping an eye on that. look at the oil markets. they are taking a pretty serious hit, this entire week. china is the world's largest crude oil importer. and as virus fears send a chill through the region, oil is on pace for its worst week since may. down 7 1/4%. we did see it close at $54.31 a barrel. we're in the aftermarket right now. we should check the international benchmark. brent crude settled lower down about 6 1/4%. remember a few weeks ago brent was at $70. it's at 60 now.

and you can see reaction in the big energy names. we've got contra resources, national oil well and noble energy, all falling anywhere from 3 1/4 to now 4 -- down 4% for cabot oil. would you bolt from oil and oil stocks or has the recent drops set the stage for investors to buy that or any other sector? to our floor show traders, phil flynn. tell me where we go next. >> you know, the answer is lower more than likely. the concern here is that this could be the most significant destruction event in oil maybe in history. you know, the only basis we have to go on or track record probably would be sars in 2003 where we saw the price of oil fall over 20%, and i remember trading that. the market had just fallen apart. you got into a lower trading range and didn't really recover for a year.

you have to consider, you know, we can speculate about the impact on the economy and disney and things. demand destruction is happening right this minute for oil, this very second. you know, planes are not flying. trains are not moving. and that's hundreds of thousands of barrels of oil that we assume would be burnt that aren't going to be burnt. this is significant. it will have a major impact. it could change my outlook for oil. i have been a bull for oil for the entire year. this may put us into a trading range and kick the can down the road for higher prices. liz: tim, let's broaden the discussion here to equities overall. we've got imax for the second day in a row hitting a 52-week low because imax has a lot of screens in china this they will hold off on putting forth their slate of movies in china which was supposed to be the lunar new year big festivities, parts of the great wall of china have been shut down.

at what point do you see this simply leaving the psyche of american investors and people calming down? >> well, we're only a week into this. i mean, clearly this is going to affect consumer activity in china and possibly some industrial activity in china. as you see with the declining price of oil, so it's very hard to assign numbers to this right now. it does create a tremendous amount of uncertainty. that's kind of what's driving the market action right now. the market can deal with bad news, if you can model it, but it doesn't really like uncertainty. we just don't know where this is going. we don't know if two weeks from now this is going to be okay and it is under control and we know what to do and we're in the process of doing it or it is still going to be building. i think that's why you've got -- you've had such a significant risk off trade today. liz: let me jump in. we're looking at honeywell. honeywell makes the face masks so does minnesota mining and manufacturing.

their stocks are down. well, 3m is up about a third of a percent. honeywell is down. raymond james just said that people in the u.s. should not worry. absolutely, no panic, even though there are two cases here, but we sent our producers out and they could not find in midtown manhattan, three different places any face masks so you've got to figure that the collective fear not necessarily mounting a building but it is present. >> i think that's a typical reaction for people just watching the headlines as they come across during the day. i mean, we started the day with four cities in china on lockdown. now there's 15 or 16. but look, the face masks probably sell for a couple of dollars. they are a very very small amount of the total revenue for honeywell or triple m. i certainly wouldn't suggest either one of those stocks just based on that. liz: indeed. important to keep in mind and some perspective, phil, tim, thank you very much. check the dow, still down about

151 points. we have the closing bell ringing in 45 minutes. up next, a dire warning not about the virus that's out there, but in davos, one on the sinister side of artificial intelligence. and it comes from alphabet ceo who still says it's a necessary evil. >> you know, i've said this before, ai, one of the most profound things working on humanity, it is more profound than prior electricity, being worked on. liz: as one major western city ramps up its use of ai and facial recognition, ring dna ceo is here. why he's not backing down. the countdown is coming right back. don't go away. what you need.

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>> i have tremendous positive -- to it, but, you know, it has real negative consequences. you know, when you think about technology like facial recognition, it can be used to benefit. it can be used to find missing people, but it can be used for -- [inaudible]. liz: alphabet ceo sundar pichai

in davos worried enough about artificial intelligence and facial recognition that he actually supports a temporary ban on it. however, his company is one that has made huge investments and has definitely been at the forefront of developing this. so what does it all mean when he talks specifically about ai and the concerns about artificial intelligence? well, start up ring dna is a company that's been at the forefront of developing ai as well, in the sales experience type of way. right? he's using his business, the ceo of ring dna to grow revenue by analyzing conversations with customers. he thinks everybody needs to calm down and back off and not shy away from it. ceo howard brown here in a fox business exclusive. mr. pichai is very concerned about this, even brought it up in davos. what do you think? >> i think there's a reasonable concern for it. i think that there's a lot of amazing uses for artificial

intelligence. we're seeing incredible things in healthcare, in science, in security. we're using artificial intelligence in ring dna to help retrain the workforce to help provide better experiences to customers. certainly there should be regulation, and there should be study of artificial intelligence, but i think the fears are overblown. liz: do you believe in a temporary ban? would that do more harm than good? >> absolutely not. he made a comparison to the invention of fire and electricity. i don't think the regulation of fire and electricity or the ban of it would have done very good for human civilization and, you know, today with everything that's going on, whether it's the virus that's spreading, we're using, ai to really advance human causes. certainly there's risks out there, and those risks should be studied, but, you know, an overall ban would absolutely create unintended consequences

that none of us quite frankly afford. liz: if it were in your hands i would be be fine. but it's in other hands. there's a company called clear view that's scanned and scrubbed twitter of 3 billion photographs and has entered them into a database and they are selling all of this to law enforcement. of course i want criminals off the street, but are you getting perilously close by allowing something like that to a police state? >> yeah, it definitely can be scary, and, you know, something we all need to be concerned about. it should be studied, no doubt about it. but at the same time, we really need to think about all the positives uses of it. for example, when you go into airports today, we're screening faces for terrorists or people who could cause harm. there are certainly places for it, and there should be places where we shouldn't have cameras

recognizing who we are or what we're doing. liz: without it -- with it, would you say you have had a lot better revenue with ring dna and your company? >> certainly, with it, our customers like hewlett-packard and amazon and lyft and others have been able to better handle their customer requests and needs and have been able to better address the user experience that we know businesses are trying to deliver to their customers on a daily basis. absolutely, yes. liz: good to see you, howard. thank you very much. >> it is great to see you too, liz. thank you. liz: we will see you a next time. this is a big story that's only developing. wildfire whiplash, pg&e, that stock is rallying this hour after reaching a deal with bondholders that could ease its way out of bankruptcy. the california utility accused of starting deadly wildfires in the state in 2017 and 2018 has settled with investors who own most of its 17 billion dollars

in bond debt. the stock is up 3 1/2%. california governor newsom still needs to endorse the deal. waiting on that. closing bell ringing in 37 minutes. the dow making quite the comeback. still down 142. but coming off 300 down.

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liz: just getting the news in about starbucks. it says it is working with local health authorities in china to take appropriate actions

including closing stores in some locations in reaction to the coronavirus outbreak. we need to tell you that starbucks has a huge presence in china. the stock is falling 2% because starbucks has 3300 stores in about 141 cities in china. so we're watching that story developing. in meantime, the senate literally just two minutes ago took a recess. moments ago, house impeachment manager adam schiff made final arguments and talked about the role of foreign powers on election outcomes, a nod to u.s. intelligence confirmation that russia had meddled in the 2016 presidential race. president trump faces two articles of impeachment, one for abuse of power and another for obstructing a congressional probe. earlier today republican senator graham spoke before the cameras and lindsay graham is speaking right now. let's just listen in for one moment. >> this was liz --

[inaudible] -- adam schiff would be leading the charge for an investigation into what happened. because it is bad government. it is a clear conflict of interest. it undermines any effort to bring better government to the ukraine and to combat corruption. how do you think ukrainians take this when they hear that the vice president's son is getting 3 million dollars from the most corrupt company in the ukraine? it kind of undercuts -- liz: lindsay graham has been a staunch supporter of president trump and has said the impeachment situation is mind numbing. hillary vaughan on capitol hill. bring us up to date. >> saturday liz we're back at it. this is the final day democrats have to make their opening arguments before the white house team takes it over and picks up their defense on saturday. liz, really the complaints on both sides have not changed over the past three days. republicans have complained that they have heard nothing new, and democrats are pressuring swing

state senators to join with them to approve new documents and new witnesses. >> we know we'll never get mcconnell. we know they will pressure republican senators. but four republican senators can step forward and say that we need witnesses and documents, and there are 12 or 13 who have never said a bad word about witnesses and documents. >> abc is reporting new audio that allegedly depicts president trump talking about firing that former ukraine ambassador maria yovanovitch saying quote, take her out. but republicans reacting to this today saying that still does not change the fact that the president had the right to fire her. >> my guess is we're probably not surprised that the guy who had a a tv show where he talked about firing people is willing to recall the ambassador. >> and liz, you mentioned that a lot of the testimony has been mind numbing for republicans. house impeachment managers have had a difficult time keeping their audience engaged.

we heard from senator rick scott who joked he would have the sergeant-at-arms kick him off the senate floor just so he could escape. there is a little bit of sweet relief for senators here today. hershey's chocolate delivered 700 pounds of chocolate to restock the candy drawer. the only sustenance that these senators get during hour and hour after testimony is water, milk, and candy. liz? liz: i want some of those mike and ikes, and the rolos, lucky, those guys. it will get them through with a little bit of a sugar high. hillary, keep us posted. thank you very much. with the closing bell ringing in 23 minutes, and the dow still losing about 181, s&p down 32, the nasdaq faltering by 91 points, up next, eli manning officially retires as an nfl quarterback with two super bowl rings and a gigantic bank account. what eli had to say as he calls

it a career. and don't miss the edition of my everyone talks to liz podcast. i got the story of the first quarterback of netflix, mark randolph, find out how the co founder and original ceo of the streaming giant turned a crazy idea he and his friend reed hastings came up with in the carpool lane into a billion dollars business that upset the entire media landscape. go to apple, google, fox news podcast.com and download, subscribe, let us know what you think. i'm dying to hear your thoughts on the everyone talks to liz podcast, a whole bunch of different unbelievable stories. let me know @ liz clayman on twitter -- @ liz claman on twitter. we're coming right back. it's either the peace of mind of a standard unlimited mileage warranty. or it isn't. for those who never settle, it's either mercedes-benz certified pre-owned.

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career with one organization. i'm proud to be one of the few, but even more so, that it was as a giant. liz: after 16 seasons and two super bowl championships, new york giants quarterback eli manning announced it's time to walk off the field. manning who holds nearly every passing record in team history will be inducted into the giants ring of honor next season and have his number 10 jersey retired. as one of just five players in nfl history with at least two super bowl mvp titles, manning retires as the highest earning player in nfl history, raking in a total of 252.3 million dollars in contract cash alone. but patrick mahomes with the kansas city chiefs is working to chase those words. "the claman countdown" will be coming to you live from super bowl 54 in miami, florida, next friday, chiefs versus niners. it is not just a sports story, folks. it is a huge business story.

we will be live from south beach with your all access pass to the big game buildup. connell, i know you are a jets fan. so you're probably seeing ghosts; right? connell: you know -- [laughter] connell: my son says to me, you know, if the jets make it, we will go to the super bowl. i said yes, we will. it is not a financial problem. liz: you are talking to a browns fan. connell: i never think about it. no planning. i'm happy for eli manning, a terrific career. making all that money is great. you will have fun at the super bowl. it's been an interesting day, right? liz: yeah, rock and roll definitely. connell: it is friday. we always -- almost always have steve forbes on friday, so right off the bat, you know, somebody as experienced as steve i think it will be a good day to talk to him, get his perspective on not only the ins and outs of the market on a daily basis, but, you know, the reaction to this virus out of china and whether it is really that or we were kind of set up to sell off

anyway and what he thinks about the global economy all things considered. we will start there and move on. we have a lot to cover here. it should be a busy friday. liz: we have seen such a run-up to records that maybe people were looking for a reason to take some profits. they needed to be nudged a little bit. connell: a little nudge. you will have fun in miami. you're tossing to me in a farm in iowa on that show. liz: will you bring me back some iowa corn? connell: i will and one soybean. liz: connell, thank you. the dow is heading back down, lower by 220 points, now below 29,000. while viacom cbs investors are excited about what the future holds for the newly-combined company, how are employees reacting to the news that charlie gasparino broke yesterday, that the media giant is looking to cut costs by cutting jobs. charlie breaks it when "the claman countdown" comes right

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liz: looking at the first week in seven where the nasdaq will not carve out a win. nasdaq will look to close down about 1% for the week. the s&p also down 1%. the dow just under 1% for the week. but as you look at these markets, they are shaping out to close in the red at the moment today a lot of fears about that second confirmed case of the coronavirus here in the united states. as media giants viacom and cbs continue to integrate, the combined company is seeking to cut some major costs, and that of course is sending employees reeling about their future at the newly-minted viacom cbs, and the stock isn't helping. it's down more than 3%. charlie >> we have a little more insight into how many people are going to get cut -- are going to get cut and when this thing is going to happen. bear with me.

i want to point out, again, i don't like doing these stories. they matter for wall street because stocks often move on these sort of -- on material stuff like this, often move up unfortunately. liz: wall street calls it synergies. we call it layoffs. and they are painful. >> they are painful. we've heard that there's already some cuts already going on, but the main cuts will begin in april. we hear over the next 12 to 24 months, it's going to be into the thousands. and it could be anywhere from 2 to 4,000 cut. that's a big number. here's -- that's the number inside the company. we should point out that the pr department at viacom did not confirm, did not deny. we're talking in the thousands for these cuts. now, we should point out that they have in the combined company about 23,000 people. if you get 4,000 out of 23, that's a big chunk of change. if you get 2,000 out of 23,

that's nothing to sneeze at either. in order to achief the cost savings -- in order to achieve the cost savings, the sinneri sinneries -- synergies that the ceo wanted. liz: new york, l.a.? >> don't know, i would say both. i would say it would fall probably harder, more on cbs only because viacom has gone through this already, a lot, because the stock price got hit earlier. there was a change with bob coming in. and the cost-cutting started to ratchet up. we should point out that there was an off site earlier in the week. the vision for the future was laid out, but also this whole thing about cost-cutting, so that's where we are right now. something to keep an eye on, again, not a story i like, but, you know, it is what it is. second story i got here is about

trade, and this is fascinating. phase one of the trade deal, what was that, two weeks ago? liz: yeah. >> everybody thought there would be a phase two coming soon. the word we're hearing from the white house, and they're telling this through wall street executives who deal with them directly is that don't hold your breath on a phase two. it is probably not going to happen in this calendar year. liz: blackstone right in that seat yesterday saying the exact same thing. he said not this year. >> that's what the white house is saying. i'm even hearing from the same people that don't hold your breath on it ever happening. i mean, this is apparently the real low-hanging fruit on this stuff. by the way, they got some good stuff. we got possession on ip theft. liz: tariffs remain in place. >> remain in place, you know, they've agreed to buy some of our stuff, but, you know, the next hurdle apparently is just, you know -- is mind blowing, and it's going to be -- it is going

to take -- it is going to take a while, so long that people are doubting it will ever happen, and, you know, the other question is, do you need to go through that again? i mean, i think the cessation of a trade war, tariffs flying back and forth is probably a good thing right now. it's good for the markets. businesses can kind of figure out how to get around it. liz: china has bigger fish to fry with the coronavirus. >> beyond that, i mean they have an economic issue there; right? so the one thing interesting about china is that, you know, because it's essentially a dictatorship, he can do whatever he wants, right? no one is going to get rid of him. liz: he's an emperor. he's in place forever. >> in a sense that's easier to deal with this sort of -- this thing than a president who needs congressional approval and oversight. he can just say let's close down ten cities, which is what he's doing; right? liz: you are coming to the super bowl with me. >> yes, we're both going to the super bowl. we will be going to a couple

parties. i have confirmed that. liz: are we behaving? >> we're going to the versailles which is a great -- [laughter] >> am i behaving in miami? i mean, i will be in miami. [laughter] >> in miami. liz: please, no tank tops. >> i have very tight shorts. liz: that's really -- [laughter] liz: -- something i can't see unsee right now. gerri willis? >> is he done? okay. liz: i can't -- >> let's go, intel doing very well. blow out earnings, strong guidance. this stock hit its highest level since the dot com era, strong week for intel. citr citrix, earnings beat, software company. some of the losers, you know,

energy, oil sector was one of the worst performing of the week, cabot oil and gas, down, down as you can see right here. wells fargo and ubs cutting price targets on that stock. mosaic down 12.5% this week, a fertilizer stock, maybe charlie could do some special, you know, chatting with that one. wynn resorts down 10%. it is all about the casinos dropping as this coronavirus outbreak leads to possible closings. so that's what's going on with the s&p 500 stocks. liz, back to you. liz: yeah, we watched any casino stock that had exposure to macau like las vegas sands, some of these names haven't had a good time. we will be watching it all of it. gerri thank you, thank you for saving me from charlie's discussion about his shorts. [laughter] liz: yesterday, matt lloyd right here on the show said now is the time to seek opportunities in

emerging markets in asia of all places but also eastern europe. today's countdown closer says not so fast. investors can stay right here in the u.s. we're joined by independent advisor alliance chief investment, even chris, as we have seen such an unbelievable run-up? >> yeah, i think the u.s. is really still in a great place. the economy is doing well. the three things that were threatening us last year in terms of trade, the fed, and geopolitical risk, a lot of those things have subsided. yes, we have had a big run. stocks are expensive than average over history. they can go much farther. i think we have the wind at our backs. i think the u.s. is still a great place to be. we have international exposure. we are invested in emerging markets. but predominantly we're focused on the u.s. we still believe that's the right play for this point in time. liz: which sectors then? >> so we're pretty balanced across sectors. we have preferences. we still like technology and industrials. within technology, we would be looking at the semiconductors

because we feel like there's so many plays at that play right there in terms of, you know, artificial intelligence, what's happening with 5g rollout. a lot of opportunities for chipmakers. on the industrial side, clearly defense companies should continue to do well. on the other hand, areas we're looking to avoid would be like consumer staples, utilities. those are pretty expensive. not a lot of growth there. we understand on days like today, those are havens that people will go to, but we believe over the course of the entire year, those will be areas that you will want to avoid. liz: you have about 4 1/2 billion in assets under management. i want to get into your head about how you deal when you see a headline hit the tape that is negative for a good quality stock. i'm thinking of boeing right now because boeing did a massive 180 today already. it had been at about $312. it's trading right now at $323, as the faa has broken news just before this show saying that

they feel that the 737 max will push ahead and will get back up in the air. so you have the stock up now 1 3/4%. when you see a headline, whether it's boeing or any other company, for a company that you've been wanting to buy, but that's too expensive, do you wait a couple days or do you try and catch that as they call it falling knife? >> well, for us, you know, we constantly have our watch list. we're always looking at quality companies that we like in terms of looking to accumulate as well as companies that we don't own. typically if news were to break, we would wait at least a few days. we like to see the dust settle. we like to see what's going to happen in terms of investor sentiment, positioning. once some of those technicals get out of the way, then it is time to start looking at accumulating that position. we would start to buy after a few days and then slowly accumulate that position. we always have our watch list and we look for opportunities where bad news can knock down the stocks of really good companies. liz: all right. we're slightly below 29,000.

the dow is falling 181 points. we see three big major indices that will close down for the week. the s&p and the nasdaq and the dow. what are you going to think of when you wake up on monday morning? are you going to grab the sell joystick or do you -- grab the buy stick or hit the sell button, rather? >> you know, i think what's happening with this coronavirus, the news is just starting unfold and break. it remains to be seen if it will be as serious as the sars epidemic was back in 03. even under that scenario, most of these things are relatively short lived. so, you know, in a worse case scenario, we could see some pullbacks in the market. i think that will prove to be a buying opportunity. but the most important thing is just not to panic. i don't think you want to make a knee-jerk reaction and do anything differently, let's say on monday than you are right now, but absolutely, as stocks continue to go lower, you've got opportunities to see some of those good quality companies that have been on your watch list at attractive price. that's what we will be looking for. liz: great to see you, chris.

thank you very much. on this friday, markets closing off session lows but the s&p closing down just under 1% for the first time since october. the nasdaq closing lower for the first time in seven weeks. that will do it for "the claman countdown" i will see you monday. :: >> down 300 plus earlier in the session. and there's the second case of the china born illness. and boeing. there is a lot to talk about. >> this is after the bell, fears of outbreak grouping ambassadors. s&p 500 news volatile, close to 1 percent. that's the biggest move that we have seen in either direction about three months time. nasdaq, is stepping aix