tv The Claman Countdown FOX Business May 11, 2020 3:00pm-4:00pm EDT
3:00 pm
issues going forward, i don't think that that's priced into this market. on the s&p 500, if it doesn't take out 2968, there are versions of the means on my chart -- cheryl: i will hold you to it. i'm holding you to it. frances, thank you very much. thanks to you for joining me during this hour. over to my friend liz claman. hey, lizzy. liz: good to see you, cheryl. tech's the clear leader in really what's been an exciting but mixed session, kicking off this week as more states move to reopen parts of their economies. look at the nasdaq. it is seeing its sixth straight winning session, a nice move here of 107 points to the upside. the dow, well off its session lows. at one point it was down as many as 261 points early in the session. now it's losing just 18 but even as stores and businesses fling open their doors again, employees and customers might still be too nervous to show up.
3:01 pm
one company lighting up the way to walk on in, we are going to introduce you to healthy lighting which uses uv rays or at least a certain part of the uv ray to kill viruses and bacteria all around the workplace and stores. this is a fox business exclusive. we are going to show you how this works. with much of the nation still on lockdown we have a three-way merger assuming ahead of the e-sports gaming landscape. engine media filling the void of live sports, pitting real champion drivers against the top gamers in the land. we have a first on fox business look at the unique new company that's gunning to win in e-sports news and streaming. plus carnival's booking bonanza, a barron's investing hall of famer makes his post-pandemic picks for you, and charlie breaks it on pro baseball's plan to get back into action. less than an hour to the closing bell on this monday, so glad you're with us, let's start "the claman countdown."
3:02 pm
liz: let's go, tribe. breaking news. major league baseball owners have approved a plan to restart the 2020 baseball season. tomorrow, 24 hours, right, maybe even fewer, the owners are going to meet with the mlb players association to discuss the plan. now, here's what we know about the proposal. it includes a season that is expected to restart maybe even by july 4th in ball parks but without fans in the stands. the owners and the union agreed to suspend the season in march as the covid-19 pandemic unfolded. we've got charlie gasparino moving on this story. he's making all kinds of calls. he will have details later on in the show. don't move on that. how about that. baseball coming back, maybe. auto nation shares, let's look at them, putting the pedal to the metal in this final hour of trade even as car sales have
3:03 pm
fallen off a cliff during the pandemic. the top u.s. auto retailing chain forecasts a recovery in both car and truck demand. the stock is jumping 4%. possibly also because the company also reported a beat on first quarter sales. auto nation looking good. just as retail slowly reopens, under armour losing its shirt. at least at this hour, shares of the athletic wear maker are dropping 10%. first quarter sales plunged 23% as thousands and thousands of stores that carry under armour shuttered during the pandemic. the company also warned that the second quarter looks weak as well. let's check out gnc shares right now. even with massive demand for things like zinc and vitamin c during the pandemic, the vitamin giant could not catch lightning in a bottle. today with the stock down 10.7%, gnc warns it may be headed for bankruptcy with looming debt payments. the health retailer also said it's had to withhold rent and
3:04 pm
other payments to the tune of $16 million this month. even mega-reality star kim kardashian's new game cannot rescue shares right now. morgan stanley cutting the gaming stock which gives celebrities their own game and a portion of the money from it to equal weight, saying that all the benefits of people sheltering in place during the covid-19 lockdown who turned to mobile games now fully priced in, glu mobile down 2.5%. we have the hottest story, first on fox business, in gaming and e-sports. a unique three-way merger announced today. we have the top players in the deal including torque e-sports ceo darren cox and windview executive chairman tom rogers. three-way merger completed. we will learn from them in just a minute. look at the dow, just turned positive. let's see if it can hold. there are, though, weird anomalies popping up in the markets that we wanted to just at least make sure you remembered and see.
3:05 pm
just a few weeks ago, oil futures turned negative. you literally had to pay someone to take oil you invested in off your hands. as randall for sythe put it, black gold turned to fool's gold. while the price is coming back, fed funds futures are acting weird. currently the markets are pricing in the possibility interest rates could turn negative by june 2021. this as the unemployment rate soars to highs of 14%, yet some are saying that level could be wildly underestimated. why are the stock markets ignoring these anomalies and should investors ignore them? to our floor show traders. phil flynn, i will begin with you. those are peculiar developments and events. are you seeing others in the markets and should investors take note of these market oddities and invest around or through them? >> i think you need to take note of them, but realize these numbers are different than, say,
3:06 pm
the type of numbers you would read in a normal economy because this is not a normal economy. this is an economy that's been hit by this covid-19 so you have a lot of these issues that are side issues. for example, when we talk about the most unemployment since the great depression, we realize that a lot of those jobs are going to come back hopefully in a couple of months. whether you are talking about a lot of the service jobs where people are laid off right now, they are going to be getting back to work so those jobs are going to come back. i think you also have to realize that you cannot underestimate the power of the economic stimulus that we have seen in the system. you are seeing it in the interest rate futures right now. you are seeing it in the three-year note when we had a record low yield. a lot of those things that can bring this economy back and that's why the stocks are doing so well. liz: that's why warren buffett did not invest because he said while he loved what the fed did, that prevented a lot of these names from completely tanking and coming extraordinarily
3:07 pm
cheap. listen, you have to save businesses whom you ordered to shut but do you see any other anomalies? we had a disastrous april jobs number. absolutely just turn your eyes away, it was so upsetting. there's got to be a longer tale here of people unemployed, is there not? >> yes. you named it. you said anomalies. people are seeing there's an anomaly between what's happening in the economy and what's happening in the stock market. but everyone is trying to figure it out. this is unprecedented. right now we are in this price discovery phase and people think there's a divergence between the unemployment rate which could hit 20% in the next month or two and a nasdaq that got it all back. here you have the s&p which everyone has been saying is not viable above 2750 and we are almost at 2954, the recovery high. i think the market's going to let us know what it wants to pay attention to, the economic news. that could happen in july when
3:08 pm
we start to see the earnings reports for all these companies that aren't giving guidance. until then, we are in this vacuum of good news which is now focused on reopenings. you just heard new york state will reopen phase two on friday. so you are in this little pocket of good news where the market's floating higher. i do think traders are looking at 2954 on the s&p. if we get above that today or this week, we could see over even 3,000 at that point. everyone is going to really start scratching their heads. i think 2% to 3% more of upside here, but then i think the risk to the down side is over the summer when the reality really hits, we could definitely see a little bit more what we call packing and filling and see a move down towards maybe 2550 to 2650 which i think is a better spot for investors to put money to work versus up here where the risk could be to the down side in the next few weeks. liz: well, phil, before we go, that is the issue, is it not, that there is sort of a stench
3:09 pm
that is going to come that is very real for so many people who are unemployed who may find, a, those furloughed jobs they thought were coming back, they're not invited back because these companies need to see more revenue coming in, and we haven't figured out the disconnect and the bridge between let's go back, we are all dying to get back outside to b, i don't want to risk my health. right? >> there will definitely be that concern. i think the biggest concern for the market is concern of a second wave of coronavirus. but the news we are getting is generally positive. you are talking about new york. we have some good news. the deaths are slowing there. but there was concern in china overnight when they closed down another city. listen, there's a lot of jobs that may come back slowly but other jobs where there will be pent-up demand. i know for example, a hairstylist, look at this, come on. i can't wait to get my hair cut again. i'm telling you.
3:10 pm
so many people across america, they are going to be back to work and there's going to be pent-up demand. i can speak for a lot of americans. they have a lot of spirit. i know a lot of people will be nervous and they should be, and they have to be cautious, but i see that american spirit. i think we will get back to work, things will come back to normal, we will be smart about it, but i think we will have one of the greatest economic comebacks in history. i'm very optimistic about the spirit and the comeback once we can get past this virus. liz: that's right. do not count out america. i will cut both of your hair if you let me. thank you so much. closing bell ringing in 50 minutes. we do have the dow holding on to tiny gains, up about nine. think of where we were. the dow had been down 261. investors, though, phil just mentioned a city closing in china. now investors are looking at disney and saying wait a minute, wait a minute, your timing on flinging back open the doors and gates of its shanghai park today
3:11 pm
might be a little squirrely. new rules on reservations and restricted guest numbers, not enough to quell fears of second covid-19 wave hitting south korea and yes, one china town will keep even limited crowds away. disney stock down .33%. as the world reopens, would you allow someone to wave a uv light of some sort over your body before entering a store or your office if it meant killing coronavirus germs? coming up, the ceo of healthe lighting talks letting his light shine down to help stop covid-19 in its tracks. you've got to see how this works. we'll be right back. to everyone navigating these uncertain times... whether you're caring for your family at home or those at work, principal is by your side. we're working hard to answer your questions. like helping you understand what the recently passed economic package can mean for you. we're more than a financial company. we're a "together we can get through anything" company. now, more than ever.
3:12 pm
3:13 pm
3:14 pm
there are times when our need to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us.
3:15 pm
liz: nasdaq up 109. we are slowly seeing a revival in retail but it's a little murky when you lo ok at it through the lens of covid-19. for example, macy's. macy's will have only a few fitting rooms open and available. kohl's is holding returned items for 48 hours, ostensibly to make sure they're clean, then gap is closing all its fitting rooms. all three stocks are down, with gap down the most, 5.75%. how do you reassure nervous shoppers to try on or buy clothing they fear may be
3:16 pm
tainted? lighting company healthe says it has developed products that use uvc, which is a form of ultraviolet light, to zap away pathogens such as the coronavirus on surfaces, people or objects. the company is already working with the hospitality industry and is now in talks with retailers. joining us now, former nasa scientist and healthe founder and chief technology officer. fred, fascinating but i got to push you on some of this. let's start with this. you have several products. i want to begin with the one that mimics x-ray machines we all walk through at airports. how does it work and how does it sanitize people and clothing they are wearing? >> this is called the healthe portal. the idea is it utilizes a far uvc spectrum at 222nanometers. as you walk through this portal, the uv light emitted from it actually goes and kills the patho gens on your skin, on surfaces, on packaging you might carry through it.
3:17 pm
liz: tell me how you have proven that it's effective in specifically killing the coronavirus because that's all anybody is caring about right now. >> so for many, many decades, at least eight, we have known that uvc light can deactivate, kill viruses, bacterias and other pathogens. this is not new science. what's new about it is we have now found an area of that spectrum, 222 nanometers that's also safe for human beings at the same time it is devastating to those viruses and pathogens. it's been tested with coronaviruses before and been shown to deactivate the viruses very very effectively. liz: i am looking at this on the screen. i'm thinking why wouldn't every retail store, every office, have this, especially we are in new york, right, people are getting on the subway which is just a petridish, obviously, in many cases even as they try very hard to clean them. buses, public transportation, you get off, you get into the
3:18 pm
office, who you're working with, i would imagine there's huge demand for this. >> we are working with retailers, with office space, we are even talking to some mtas. i think this is a new technology, they are getting used to the idea of having to do something to reachieve this new normal and this is a technology that not only when you walk into the space or the environment, the retail store, the office, you get cleaned off and you fix that, but beyond that, it's also allowing us to essentially create this environment where even in the space, you can effectively come home afterward and clean yourself again and have these bacteria and viruses removed before you go back home. you have a very very safe environment for yourself. liz: one of the things that really frightened people was in new rochelle, new york, where there was an uber driver who caught it from another person who had it, people were very nervous. i understand you have a product
3:19 pm
for these uber and lyft drivers. talk about that. i'm interested in hearing it. >> so we have a product that looks something like this, and this mounts to the roof of a car or the middle of the car, and has motion sensors and proximity sensors and actually, when you leave the car or get into the car, this can clean that environment where your passengers are riding so you are making sure the driver is in a safe environment, and the people who come in next also have that space clean before they would even walk into that vehicle again. liz: wow. how much does that cost? and i want to also hear about the carry-on. you have a portable thing for people that now there's a huge wait list for it. >> there is, and it's essentially a bag with uv light source in it that you can open up, put your cell phone and keys in, if you are wearing a mask, put your mask in, close it back up, it seals, three minutes later you have your items sterilized or cleaned for you to take back out.
3:20 pm
liz: that looks like it's under $200. quickly, the price on the light for the ubers? >> that's not established, that one. liz: okay. let us know. i bet there's huge demand all across nation. as long as it doesn't hurt skin, because i'm very fair-skinned, i'm always worried about that, and you say it's the ray that does not hurt skin, correct? >> there have been numerous university studies over the last decade that looked at this, they looked at skin, at eyes, and the fact is this spectrum, this 222 nanometer spectrum is the far portion of the uvc spectrum, is incapable of penetrating the layers of skin on ourselves and can't penetrate our eyes. our bodies are completely resilient and resistant to it. it can penetrate, however, the pathogens we are worried about, including the coronavirus. that's the exciting part about it. liz: american ingenuity right there on our screen. let's thank fred maxik, healthe
3:21 pm
lighting. good luck. can't wait to watch this happen. thank you so much. >> thank you, liz. liz: closing bell ringing in about 40 minutes. i'm trying to -- there's a delay, i'm kind of getting the hang of it. an epic hollywood drama unfolding at amc entertainment at this hour. shares are spiking, yeah, they are up 30% after the daily mail reported over the weekend that the nation's biggest movie theater chain was talking to amazon about a takeover. but look at this. as nice as 30% looks, it had been up more than 70% intraday. it's off the highs after deadline poured cold water on the report saying there are no talks of any sort like that. and charlie breaks it on mlb's pitch to players. 24 hours from now, could we have a date on the calendar as to when america's pasttime comes back to the future? (vo) since our beginning, our business has been people.
3:25 pm
and their financial well-being. it's evident in good times, with decisions focused on the long-term. and crucial when circumstances become difficult. that continued emphasis on people - our advisors, associates, clients and communities gives us purpose, strength and a way forward. today. and always.
3:26 pm
liz: breaking in just the last forth minutes. major league baseball has unveiled a preliminary schedule but before you start smelling the hot dogs and getting all excited, everything hinges on something that's about to happen tomorrow. to charlie gasparino. charlie? charlie: well, you can smell the hot dogs if you make them yourselves because the proposal is to start the season without fans. but here's what we know. the owners about two hours ago approved a 2020 season, the broad outlines. that season and its conditions will now be, that proposal will be given to the players union for them to approve. again, not a slam-dunk they will approve it because there are some cost savings in here and give-backs. i will explain that in a minute. let me give you the headlines according to sources with knowledge of the matter. this is now generally out there. remember, last week we reported
3:27 pm
exclusively on fox business that the plan would be unveiled this week including a schedule of about 80 games and that's what we have right now. so the plan is out there, it must be approved by the players union. it will start the season without fans. spring training, from what i gather, will be starting in june. you can do it in spring training parks in florida and arizona, or you can do it in your home stadium, at least the proposal. the games begin officially in july without fans. fans will, as the virus recedes or if we get better news on the virus, fans will be filtered in at some point but again, the season starts without fans. from what i understand, it's an 82-game season. that could change. players could want less or more or it would probably be less. but it's an 82-game season. here's where it gets kind of
3:28 pm
tricky. the regular season starts on july 4th. there's going to be, as i said, an 82-game schedule and then the issue becomes payment. how will players get paid. obviously players are going to take a pretty big haircut this season. the proposal from what i understand that's on the table is this. they split revenues, meaning the owners and players split revenues, minus expenses. whether the players go for this or want some modification of this, i can't tell you. i have reached out to various people to see, gauge the temperature. haven't heard back. but the owners are saying listen, we are taking a major hit here, hundreds of millions of dollars, because a lot of baseball revenue comes from what's known as the gate, meaning fans in the stadium. it's different than football, different business model. we have to give up, you have to give up. that's where there could be an interesting negotiation that goes on. if the players do approve it and this thing is probably going to move pretty fast because if you
3:29 pm
want to start spring training in mid-june, or early june, we are in may now, as you know, if they wanted to approve it, it has to be approved politically. the white house coronavirus task force has to approve it. that means you need sign-in by not just the advisers, but by president trump who, from what i gather, wants something like this. they need sign-ons with anthony fauci, the head of the cdc. again, looks like we are going to have a stadium, it's moving in that direction, but a huge step taken towards a 2020 baseball season amid the pandemic. people betting it would happen but there's a couple of boxes that need to be checked, including an important box that will begin imminently which is negotiations with the players union. back to you. liz: great reporting. thank you very much. he nailed it last week. he warned, he said here it is.
3:30 pm
closing bell ringing in 31 minutes. bitcoin slipping intraday after briefly rising above the $10,000 per coin mark on friday. the original cryptocurrency on a wild ride as its latest quadrennial event where the currency gets more restricted kicks off. that happened in 2016. right now it's at $8551 per coin. from one digital battleground to another, a three-way merger revving up the engine at this hour. in a first on fox business interview, torque ceo darren cox and windview executive chairman tom rogers on joining forces in the name of total e-sports, news and streaming domination. next on "the claman countdown." s or what's trending.
3:31 pm
3:34 pm
and wells fargo employees are assisting millions of customers never before across america through fee waivers and payment deferrals, helping people stay in their homes through mortgage payment relief efforts and donating $175 million dollars to help hundreds of local organizations provide food and other critical needs... when you need us, wells fargo is here to help.
3:35 pm
liz: we just told you about mlb may be coming back soon. nascar has beaten major league baseball to the live punch. six days from now, nascar returns to the track. may 17th on fox, the new live nascar series returns, albeit with no fans in the stands, but it is the first major u.s. sporting series to return to live tv after being suspended due to the coronavirus pandemic. the first for live sports of any kind has juiced what may be the brightest green shoot indicator for parched sports fans and investors. a unique three-way merger, e-sports giant torque, the name behind the race, all-star series, wildly popular race car game on espn, cash prize mobile gaming platform winview and frankly, which helps media outlets translate their content to the digital world, have combined into a single integrated platform called engine media. first on fox business, we are
3:36 pm
joined by torque ceo darren cox, who will share the ceo role with frankly media ceo lou schwartz, and we are also joined by engine media executive chairman tom rogers. gentlemen, congratulations on the completion of the deal today. thanks for joining us. tom, three-way transactions like this, i don't know, i'm looking, they are a little like a four-leaf clover. you don't see many of them. how are these three companies stronger together than they are apart? >> well, together, liz, they put three key themes under one roof. the growth of e-sports which is a big thing in pandemic times, two, sports gaming and gambling and three, the transition of traditional media content to the streaming world. so we came up with engine, e for e-sports, n for new streaming, g for sports gaming, put it all together and it also helps to
3:37 pm
magnify through the word engine the great expertise that this company has in virtual car racing, and darren is a true expert on that. liz: yeah. i mean, darren, there aren't a lot of businesses that can claim that a piece of the pandemic silver lining is theirs, but you guys have done it. we are in the middle of what would have been major league baseball season but with live sports shut down, tell us how the race, this is where gamers race virtual cars against actual indy car and formula one champion drivers, how it grabs weekend real estate on espn. >> well, we have seen e-sports generally as a business and gaming in general having some massive increases across the face, whether that be people watching on the amazon-owned twitch platform, we have seen 35% year on year increases in hours watched on that platform. but also, we have seen sports like the racing side of things absolutely explode. the reason that racing is so
3:38 pm
easy to make this transition is because you are steering a steering wheel, you are pushing pedals, not just pushing a game pad or keyboard as you would do playing mlb or any other games. we have seen 1,000% increase in people watching formula one champions, indy car champions and nascar champions and the virtual championship from mass car w nascar was on fox and getting big numbers in terms of tv audiences. liz: yeah. yeah. and you know, now you guys have as i said, real estate on espn. i want to know how that conversation happened. obviously they have viewers who are starved for anything live. i understand some of the gamers have actually beaten the real formula one and indy drivers. you must be dealing with some wounded driver egos, right? >> well, there's been lots of moving pieces here. we decided only 72 hours before the first race that we put on, when it was clear that the first
3:39 pm
indy car race of the season and the first formula one race of the season weren't going to happen, we thought we better do something for racing fans. we put on an event with 72 hours' notice. we got some of our friends and colleagues that raced across the world and were amazed at people like anderson fittipaldi, f-1 champions, indy car racers, decided to come join us. we had a separate category, we call them legends, because they are legends, because the guys who do this full-time, there are people racing full-time as e-sports races, beat these guys in the virtual world. the interesting thing is the switch over between virtual and real. that's something we have been doing for about ten years, taking gamers and making them into real racing drivers. liz: tom, let's bring winview and frankly into this picture. as far as a group name here, torque was listed or is listed
3:40 pm
on the toronto stock exchange under ticker game, that's a great ticker, if you can get it. when do you anticipate you will list here in the u.s. and what fresh revenue do the other pieces of this merger promise investors? >> great question, liz. well, we hope to uplist to an american exchange relatively quickly now that we've closed the transaction. we do trade over the counter in the u.s. under mlllf as an otc stock. what's really interesting about bringing winview together with torque is that e-sports has massive viewing around the world. some have measured it at 450 million e-sports fans who watch on twitch and some of the other platforms. in fact, torque has a business which actually measures how many people watch. what we hope to do is to take e-sports beyond ad revenue, beyond sponsorships, and make it
3:41 pm
possible for the people watching to be able to enter for money, win cash prizes, by playing along, predicting what's going to happen next. what winview has been doing for baseball, football, basketball, for a number of years now, to bring that into the e-sports world and develop an enormous new level of revenue for e-sports which it has never had. liz: darren, news breaking today not only about mlb, major league baseball, but the premier league soccer could resume in the uk june 1st. again, in empty stadiums. how do you plan to keep viewers interested once live sporting events actually return? >> well, it's great to see that real sports are coming back. we are all fans. i'm here in the uk. we love to see the premier league get under way. we would love to see formula one and nascar get under way but the genie is out of the bottle. we have a bunch of new fans coming in not only watching new
3:42 pm
sports but buying simulators, downloading our games. we have seen a 300% increase in people downloading our mobile racing games. those guys are enjoying it and there's no reason why the two can't live alongside each other. the mix between real and virtual is blurred now. that's blurred with all these real drivers racing in the virtual world and vice versa. we see this as we have had an explosion in interest now, we see it now, from now on as a steady progression in the numbers as we see these mobile games that we make having these huge increases in users and as tom said, mixing that with people watching but also engaging with those sports via the winview activity. so we only see this as the start of something that's going to be huge going forward. the genie really is out of the bottle. liz: yeah. i will drive the pace car. how's that? darren cox, tom rogers, the new company is called engine media. first on fox business. keep us posted on the developments. thank you both so much. really appreciate it.
3:43 pm
closing bell ringing in 18 minutes. the dow losing a little bit more, down 56. but we still have green on the screen for the s&p, up five, and the nasdaq is continuing to gain 93 points. up next, the white house set to hold a rose garden event at the top of the hour about the amount of testing of covid-19 being done across the nation. that's something a lot of people want to know more about. we will get you a preview. and you must tune in to, yes, the 50th episode of my everyone talks to liz podcast. you've got to hear the incredible story of banfield pet hospital's president. how he went from dropping out of college and stocking shelves at walgreens to overseeing the largest veterinary practice in america. and what about everybody who had been adopting, fostering pets during covid? everyone talks to liz has that story. it's now available on spotify and all the other major podcast platforms. make sure you listen.
3:44 pm
3:46 pm
so we're working 24/7 toected maintain a reliable network, to meet your growing internet needs. we're helping customers who are experiencing financial difficulties stay connected. we're increasing internet speeds for low income families in our internet essentials program. and delivering self-install kits to your door. nos comprometemos a mantenerte conectado. we're committed to keeping you connected. for more information on how you can stay connected, visit xfinity.com/prepare.
3:48 pm
liz: boy, did our friday segment, in case you missed it, get a lot of attention. charlie gasparino and i played proud siblings to charlie's brother, critical care physician james gasparino, and my sister-in-law epidemiologist dr. ann remoine, both leading the charges on the front lines of the pandemic. the doctor's comments about testing were very chilling. >> the truth of the matter is, we don't have enough testing in place so we don't really know where we are and it's very difficult for people even now to have access to tests.
3:49 pm
liz: will that change? president trump is scheduled to make an announcement at 4:00 p.m. eastern so in about 20 -- make it 15 minutes or so, on the testing issue. he will be doing it from the rose garden at the white house in just a few moments. to blake burman for a preview. blake, any idea what he might say? reporter: you are going to see the president and the administration tout the progress that has been made as they see it, liz, on testing coming up here in the rose garden about 15 minutes' time, or sometime in the next hour. here's what the administration has laid out before us in advance of this. they say over the last week, 1.9 million people across the country have been tested for covid-19. they say in sum all over the country as of today, that number will be north of nine million people. so what about going forward. well, here's what senior administration officials are saying. they say that $11 billion is going to be sent to the states all across the country for
3:50 pm
testing. if you are wondering where that $11 billion comes from, that's from the cares act, the $2.2 trillion, phase three bill. they also say that in speaking with the white house, speaking with governors, that they have been able to identify all of the states' needs and all of the states' goals for the rest of this month, and then i was also told earlier today with vice president mike pence holding his weekly phone call with governors, the vice president encouraged governors to have the nursing homes within their state, have all of those staff members be tested. so there is a focus now as well, an extra focus, i guess you could say, on testing within nursing homes. that is some of what you will see or hear from the president here in about 15, 30 minutes' time when we get him in the rose garden. that's what we will hear. as for what we are seeing around the white house now, at least the new policy around the white house, masks. white house personnel now are being told they should be wearing masks within that building if they are going to be
3:51 pm
in the area of others. liz, i have been with you in that building. you know how it is. very small, tight, communal, a lot of folks working within the building. it looks big when you see it from a distance but trust us, you know, it's small when you get inside and there's the new policy now of white house staff being told to wear masks and of course, that's relevant because what we saw in the last few days, a valet to president trump tested positive for covid-19 and the vice president's press secretary tested positive as well. any moment now, 15, 30 minutes or so. we will see the president. liz? liz: we got a park in jersey that's required that for two months now. i'm just surprised it's taken that long but we will watch for it. 4:00 p.m. eastern. until then, we've got that closing bell that's ticking right down. we are now nine minutes away. dow is down 53. s&p up six. nasdaq gaining 91. up next, a barron's investing hall of famer tells us what moves he says you should be
3:52 pm
making for your portfolio to be immune to what could be a coronavirus downturn part two. "the claman countdown" and the closer straight ahead. seeing the break in the clouds before anyone else. together, we'll weather this storm. i come face to face with a lot of behinds. so i know there's a big need for gas-x maximum strength. it works fast. relieving pressure, bloating, and discomfort before you know it. so no one needs to know you've got gas. gas-x it's my own thing that i can do for me. since i don't have time to read, i mean i might as well listen. if i want to catch up on the news, or history, or learn what's going on in the world, i can download a book and listen to it. i listen to spanish lessons sometimes to and from work. yea, it makes me want to be better.
3:53 pm
audible reintroduced this whole world to me. it changes your perspective. it makes you a different person. see what listening to audible can do for you. - did you know that americans that bought gold in 2005 quadrupled their money by 2012? and even now many experts predict the next gold rush is just beginning. so don't wait another day physical coins are easy to buy and sell and one of the best ways to protect your life savings from the next financial meltdown. - [announcer] today u.s. money reserve announces the immediate release of us government issued 1/10 ounce gold american eagle coins for the incredible price shown on your screen. these gold american eagles are minted at the united states mint, and right now they are being sold at cost for the price shown on your screen. - pick up the phone and call america's gold authority u.s. money reserve. with nearly two decades in business, over a billion dollars in transactions
3:54 pm
and more than a half a million clients worldwide, u.s. money reserve is one of the most dependable gold distributors in america. - [announcer] today u.s. money reserve is releasing official gold american eagle coins at cost. . . are official us legal te nder made from solid gold mined right here in america and fully backed by the united states government for their gold weight purity and content. do not delay, call now to purchase your gold american eagles for the amazing price shown on your screen. gold is now on sale at prices unseen in years and this year could be one of the greatest gold buying opportunities of all time. call now while vault inventory remains. as one of the largest us gold coin distributors in the country. us money reserve has proudly served hundreds of thousands of clients worldwide.
3:55 pm
don't wait another minute, call now to purchase 1/10 ounce gold american eagles for the amazing price shown on your screen. ♪. liz, we're seeing some wind in the sales of carnival corp. the ceo two weeks ago told us bookings were still going strong for this year and 2021, despite virus fears. getting potentially strong numbers from the company today. a new report revealed bookings shot up a stunning 600% over three days after the company announced it will partially resume sailing on august 1st, with a total of eight ships that will depart from florida and texas. hsbc upgrading the cruising giant to a buy rating but flash
3:56 pm
slashing the price target. we're only 13.85. still feel there is room to run at least. ccl taking on water, down 2 1/2% at this hour along several other big travel names getting wiped out by second wave fears of the coronavirus. let me get to cheryl. she is in the fox business newsroom. >> hi, liz, not just carnival. norwegian cruise lines, american airlines, united airlines all these stocks under pressure today. particularly norwegian coming under the carnival news. that is up 6%. the stocks all trading in the red. i want to focus on marriott international. tough story for the quarter. hotel operator missed first quarter profits expectations but the ceo just did say today that business appears to have bottomed out that could be a turnaround story. stock is down more than 5.25%. glimmer of good news he called it on the call.
3:57 pm
beaches are reopening. he specifically mentioned by the way the ritz-carlton in santa barbara, california. he mentioned hotels in hilton head, south carolina, as bright spot for upcoming bookings, 50% up. we are seeing more hotel openings. missed on revenue. earnings per share 26 cents but maybe the bottom has been seen at least for marriott right now, liz. liz: cheryl, thank you. check this out. our cameras came up in the rose garden. as everybody knows we're awaiting president trump and a potential announcement about coronavirus testing that is supposed to happen at the top of the hour. as you see here, this is, sort of day one of this new requirement. everyone is required to wear a mask as the pandemic has, as you heard from blake, reached inside of the oval office. at the moment the president tested negative.
3:58 pm
stay tuned. we're right on the markets here. dow jones industrials down 61. the dow has crossed a unchanged line 86 times during today's session. all since 1:00 p.m. a lot of indecisiveness here. where should you look for a pandemic-proof portfolio? these are really unique names from "barron's" investing hall-of-famer to be, a member of the hall of fame there for "barron's" you have to appear on the top 100 advisors list 10 times. not only today's "countdown" closer make the hall of fame but -- [inaudible]. richard sapper steen let's get ideas where we should be investing right now. give us the names. >> so the playbook going forward avoid non-u.s. equities especially emerging markets are spending a lot of number to defend their currency peg plays.
3:59 pm
they are spending a lot on infrastructure for pandemics. they're dependent on global trade. when we talk about global trade we have to think about the global economy which will be very weak in particular the euro zone. the eurozone has to get their hands around burden-sharing amongst all the countries. they don't have a enat that frighted fiscal policy and they're -- integrated fiscal policy and starting with a weak labor market and a lot of bloated debt structure they haven't lost from the financial crisis. so we would avoid emerging markets stocks and non-u.s. developed market equities right now. liz: so the names you like are polen growth fund. you said as you said avoid emerging markets. some mother names are small and large growth. so, richard, we'll put these names up on our fox business
4:00 pm
facebook page. it is www www.facebook.com/lizclaman. [closing bell ring] love you to come back for a longer segment. a lot of news. richard sapper stein. join me on twitter at 6:00 p.m. futures trading begins. i will get you the numbers. connell: "fox business alert to start off today, president trump making moments about covid-19 testing as white house issued a new directive to staffers, instructing them to wear masks while not at their desks. i'm connell mcshane. melissa: i'm melissa francis this is "after the bell." the dow off the lows of the day. s&p fighting for gains. nasdaq reversing earlier losses on strength in technology. fox business team coverage for you. lauren simonetti watching markets. blake burman with the latest from the white house. hillary vaughn is in
122 Views
IN COLLECTIONS
FOX Business Television Archive Television Archive News Search ServiceUploaded by TV Archive on