tv The Claman Countdown FOX Business May 26, 2020 3:00pm-4:01pm EDT
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thank you very much. as we hand it to liz claman, dow up 660 points, liz, over to you. liz: thank you so much. what a great tuesday after a long weekend, to see this kind of rally. wall street celebrating the return of traders to the floor of the new york stock exchange with a good old-fashioned rally. the dow popping back above 25,000 as the s&p 500 reaches the 3,000 level ceiling. hopes for a new coronavirus vaccine and the reopening of more regions in the u.s. spurring the risk back on sentiment but what will be waiting for the masses when they return to the workplace? new reports, deadly bacteria that causes legionnaire's disease could be lurking in stagnant water pipes that haven't been flushed out for weeks. the ceo of a company called ecolab is here. they've been cleaning up this quarter thanks to its services and products that kill the coronavirus.
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he's here in a fox business exclusive about this new bacteria. the covid-19 lockdowns forced many to whip out the credit card and buy essentials online. a publicly traded company is making all those transactions work. the incoming ceo is a wall street veteran who survived 9/11, the financial crisis and now the pandemic. he will tell us what he saw in early january that told him get the employees to work from home and out of a crowded business area. that was well before just about every u.s. company had even heard of covid-19. charlie breaks it on the big name trading companies refusing to sign on the dotted waiver line that the nyse requires to walk on to the trading floor. and 24 hours before the dragon capsule roars into space. less than an hour til the closing bell, let's start "the claman countdown."
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liz: breaking news. they are testing the systems right now. we are just over 24 hours away from history as spacex prepares to become the first commercial space company to launch american astronauts into space since the end of the space shuttle era. you are looking at a live shot of the falcon 9 rocket that's on the launchpad at cape canaveral, florida. you can see clouds there. they are demanding perfect weather, supposedly things will clear up tomorrow, but astronauts have rehearsed their prelaunch routine over the weekend aboard the crew dragon space craft that will carry them to the international space station. nasa administrator james bridenstein said at a press conference the window for a launch is right now at about 60%. kind of leaves a hole there. but liftoff is scheduled for
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3:30 p.m. eastern time tomorrow. of course fox business will be covering that. tesla ceo elon musk, also the ceo as you know of spacex, tesla is up 328% over just the past year, and if that was not a sky-high runup, barron's says a successful spacex launch could provide tesla's stock with more rocket fuel, even though the two are not exactly related. the love for the elon musk era spilleth over. tesla higher by about .25% now. let's get to the rocket fuel propelling stocks as we head into this final hour of trade. novavax is joining the we are really close to human travels group. the vaccine maker is surging after it announced the first participants in a phase one-two trial of its experimental covid-19 vaccine, very close here. so we've got novavax up 5.33%. look at merck, up 1.75%, getting a slight bump after it announced collaborations to develop a
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vaccine and antiviral drug. but that wait for both the vaccine and a cure now taking its latest toll on dell. dell stock moving higher by 4.25% is, in an effort to preserve cash, stopped matching its employees' 401(k) contributions. molson coors is furloughing workers in the u.s. and europe. usually suspension of dividend is not a good piece of news for stocks but molson coors up .25% now. theme park operators not waiting around for a vaccine. six flags will reopen its first u.s. park in oklahoma june 5th. that stock is jumping 11% while sea world and cedar fair are moving higher. sea world by 6%, cedar fair up 9.33% on that sentiment coming from six flags. meanwhile, the nba looking for magic in orlando. the basketball league currently in talks with disney to resume the season at its 220-acre wide
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world of sports theme park in florida. disney getting a move of 3.25% to the upside right now. the new york stock exchange beating six flags and everybody else to the punch. you're looking at a live picture of the nyse. we will fire up our cameras here. the nyse officially reopened to traders this morning after shutting down two months ago due to coronavirus spreading among a few of the traders. clearly it is a risk-on final hour of trade. we are kind of thinking as you look at that live picture of the new york stock exchange that some of the bullishness is based on the fact that the 117-year-old trading floor which we have now flipped to that live picture, has now flung the doors back open. from outside to inside and the now open floor with one of our favorite traders, john corpina
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and we are also joined by phil flynn. what's the feeling down there today? the markets are obviously rallying, the dow is back above 25,000. high of the session, a gain of 711 points, s&p above 3,000. how are traders behaving and back on the floor of the nyse? must be a great feeling. >> it is great to be back. the excitement is certainly here. a new world that we are living in, new prophesies, getting in the building, temperature checks, hand sanitizers, plexiglass partitions, six feet apart, but we are making the best of what we have right now. customers have been waiting for this date to get back in, to be able to send flow back here. this is our new world, our new environment. we will continue to grow from here. liz: yeah. you know what, i think so. the one thing i would say is that our good friend peter tuckman, one of the traders, he tested positive for coronavirus so he is not back today. we just wanted to give our best wishes to peter. he's a good friend of both "the
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claman countdown" and the entire network. tell me what you're seeing with the markets right now. we are up 646 points for the dow. where do you see us going and part of this, i would say, are the airlines looking very very healthy at the moment. at least the stocks are. >> liz, the headlines that came out over the weekend have all the same theme and it's this rollout, getting back to normal, new phases that are coming into play, then when you couple the nyse reopening, not that this has a major market-moving factor to it but this is all part of what we have been seeing. yes, this is having this effect on the market we are seeing today. i think people are becoming more comfortable that getting back to some new normal, whatever that is, is getting closer and closer every day. we are seeing other states where phases are rolling out by multiple levels. new york clearly, that's been at the epicenter of this, has agreed to move forward in most areas. so as we continue to see this progress, i think investors feel comfortable getting back into this market and getting back into sectors that have been hit
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dramatically. as far as the airlines are concerned, clearly we have seen a tremendous amount of pressure on that. we have been watching and we have discussed the tsa numbers, those daily numbers that come through. those have rebounded nicely. i think investors feel that once everyone kind of figures out what things are going to look like and how we all play within the same sand box which is a new sand box, that things will get back to some sort of new normal. liz: well, good to see you, mask and all. being safe. congratulations. >> a fox mask would be good. liz: okay. i'll make that happen. absolutely, i will make that happen. >> for my next interview. liz: phil, we will get you one, too. phil flynn, give me a sense, everything from oil which by the way, a crazy amount, hold on, where is my note here, because i'm looking and we've got it up about 80% this month alone, and then we have a very interesting
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move with the ten-year yield which is still only jumping up just a few percentage -- i guess basis points there. tell me what you're thinking as you look at these markets on a tuesday. >> you know, i think it's a testament to the american spirit. it really is, liz. what we are seeing is signs that the u.s. consumer, the u.s. economy is not going to be held down forever because of this coronavirus. what we are seeing, of course, when it comes to oil demand, for example, it's coming back a lot quicker than people think. you mentioned the airlines. the demand for airline tickets have gone up five weeks in a row. people want to get back on the road and have a vacation. they are sick and tired of being locked at home. it's like clark griswold, get on the road and we are seeing those numbers actually go up. so to all the naysayers who were telling people that, you know, america is going to change forever and nobody is ever going to want to go to a restaurant again, we are seeing exactly the opposite. we are seeing, you know, a cautious reopening but people
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responding positively and that gives me a lot of hope that the economy's going to continue. i think that's why the stock market is performing as well as it is. it's seeing that american confidence, it's seeing the help it's getting from, you know, the stimulus and the government and so the road is looking very very good for stocks. that's why we're performing so well. liz: we were just showing the financials there. citigroup having a fantastic day today. as we look at that, i think it is important to note that citi is still down about 39% year to date. it's up 15% quarter to date. as we watch all of these names, i want our viewers to understand, don't look at things in a simple bubble of look what it's doing today. remember that you have to look back tiahrt quarter to date or year to date. just make sure they are getting back to where they were. jon, phil, great to see you. thank you so much. i'm working on that mask for you.
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closing bell, 50 minutes and we do have a nice move of 660 points for the dow jones industrials, and look at the s&p 500. a nice, nice jump of about 50 plus points. williams-sonoma turning of the heat, sizzling after a healthy upgrade to outperform, saying the urge to bake while quarantined, i mean, how many people were baking banana bread? okay, that's helping. a focus on home improvement continuing to strengthen the retailer stock. for those of you heading back to work, could a very terrifying bacteria be lurking in your offices? worrisome new report and the company whose phones are ringing off the hook to help stem the spread of all deadly germs as businesses reopen across the country. ecolab's ceo douglas baker joins us in a fox business exclusive
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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. liz: as covid-19 lockdown orders ease up across the u.s. and workers slowly but surely return
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to work, what will they find? well, there's a disturbing new report that skyscraper office buildings once packed with employees but left empty for the last couple of months, might very well pose an unexpected health risk. public health authorities have issued a warning. the plumbing in some of these desolate buildings has water that may have gone stagnant in pipes, taps and toilets, raising concerns of deadly legionnaire's disease. our next guest is the ceo of publicly traded ecolab, a leader in water hygiene and infection prevention solutions, serving everybody from skyscrapers to hospitals to hotels, restaurants and manufacturing facilities. doug baker is chairman and ceo of ecolab. he's here in a fox business exclusive. as if we didn't have enough to worry about with the coronavirus, many of these buildings were not meant to sit idle but because they have, there is now the worry that this bacteria called legionella may
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have bloomed inside -- i know, not pleasant, toilet pipes. how serious a threat is this and what does your company do to eliminate it? >> it's a real threat. i would say summer is always legionella season. unfortunately, legionella likes warmer weather versus colder weather and it harbors frequently in cooling towers which are part of the device used to cool large buildings. so as a consequence, as we move into cooling season, legionella always seems to rise. now you've got the double whammy of idle buildings and stagnant water and in stagnant water, you can also have bacteria growth like legionella. it's a real threat. it's manageable. both buildings or good buildings have water safety plans. we provide them so we understand where the risks are. what you need to do. but before these buildings open again, they do need to flush with biocide, flush the system completely, if they really want to be completely safe. liz: yeah. how long a process is that for a
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skyscraper of, say, 45 to 55 floors? or even an apartment building that have been left empty? >> yeah. you can do it, this is hours and days, not weeks and months. it's completely manageable. it's not new science. people know how to do it. we know how to do it. it's just important that it's done and you don't minimize or ignore this risk. we have learned that's not always a good plan. liz: okay. i'm dying to know how you are doing, what you are doing now. you've stepped in because you are getting, as i imagine, the phones ringing off the hook for your services. tell me whom you're hearing from and what they are asking for as far as what ecolab can do. specifically, about water hygiene. >> yeah. well, broadly, we are the hygiene experts through food safety, water safety, water conservation, et cetera. we have been doing it for a long
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time, decades. we are in hospitals, pharmaceuticals, et cetera. this is not news to our customers that we bring expertise. we are serving three million end user sites in 170 countries. what's happening now, a lot of the things you might suspect are happening. obviously demand for anti-microbials, surface sanitizers, skin care, skin sanitizers are going through the roof. that's particularly true in health care, in life sciences, but also in food retail, as you have seen this real shift of food consumption back to home. so people are now procuring more of their food back from food retailers again and as a result, food retailers have both stepped up their hygiene needs, because consumers expect it, and they just have more demand. food and beverage producers, et cetera. it's throughout those industries. on the other side, we serve restaurants. we serve cruise lines. we serve hotels.
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my imagined demand there has been depressed. it's starting to come back now as openings are occurring around the world but that's been a different story. liz: well, there you go. you are going to hear from hotels that are now getting repopulated but you guys were also at the forefront of the four seasons hotel in new york when the four seasons, while closed to regular guests, said you be you know what, we are going to open it to health care workers who didn't want to go back home and possibly infect their families. while you worked at the four season hotel, i'm very interested to know what you saw in china. you have a big business in asia. what was it like in january for your company? >> well, you're right, china is where all this broke and i would say certainly first, we saw huge demand spikes in hand sanitizer, hand care, almost all antimicrobials. we worked to meet our customer needs and if we had any left over, to work other needs as
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well. that was big. we worked to make sure our team stayed safe. if we can't keep our team safe, we can't run our plants and we can't service our customers either. team safety came to the forefront so how do we get them the ppe they need, et cetera. obviously these learnings, we applied to the balance of the world. but china spiked quick, i would say as they reopened we have seen some industries come back fairly quickly and others, honestly, are taking some time because there still remains i would say concerns in the populace about covid and even though they are okay to go to restaurants legally, they are stepping back in somewhat slowly. it's improving sequentially but it's nowhere near where it was a year ago at this point in time. we expect that to continue to improve but it's going to take a period of time, maybe a year. liz: your stock isn't taking a period of time. it's up 33% quarter to date. doug baker, the ceo of ecolab.
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>> thank you. liz: this week's everybody talks to liz podcast guest is also working very hard to clean up during the covid-19 outbreak. cindy miller runs the nation's leading medical waste management company. you have to hear her amazing back story that took her straight to the c-suite of the company entrusted to safely dispose of anything tainted by coronavirus coming out of the hospitals. it's available on apple, google, spotify and fox news podcasts.com. with the closing bell ringing in 38 minutes, a new food fight breaking out. how one restaurant owner is firing back at grub hub's high priced killer commission. "the claman countdown" is coming right back.
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liz: i just want to let you guys know that the high of the session for the nasdaq was a gain of about 176 points around 11:37, or:47 eastern time, we hit that low which is still up about 40 some odd points. we kind of bounced around at the moment. we are at this very moment up 61 points. there's no at least for the moment, any real reason, maybe just profit taking on a very strong day for a broad-based rally. some law makers are now warning that uber's rumored plan to buy online food delivery giant grub hub raises quote, serious competition issues. they are asking the department of justice and federal trade commission to keep an eye on this deal. both stocks are moving higher by about half a percent right now but one primary concern for law makers is the fee that restaurants are forced to pay to use both grub hub's delivery services and uber eats. why wait around for regulators
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to decide? now some restaurants are actually taking matters into their own hands. we said let's get kristina partsinevelos on the story here. she is at pita's and sticks restaurant in brooklyn, new york. what are they doing and what do you see happening here? kristina: okay. first i want to set the scene. the fact that it is bustling, there's lots of people out, lots of people looking to buy food. but like the restaurant you just mentioned, the greek one right in front of me, they have to rely on delivery apps and this restaurant owner says he is tired about how high these fees, some up to 30%, they are charging by a lot of delivery apps like grub hub. listen to what he had to say. >> we cannot operate with 25%, 26%, 28% commissions flying out the door. if you are less than 15, we can work with that but that extra 10%, 11%, 12% makes a huge difference.
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kristina: a lot of these fees have to do with marketing and commissions. a lot of cities are capping the fees. in new york city, it's about 20%. seattle, washington, d.c., it's 15%. but grub hub does not like this at all. they said they oppose the fees, the cap on the fees, i should say. they say that city officials have overreached. they believe they are providing a service and a lot of restaurants can pay into it if they want to market their restaurant on their app. take a look, though, at this example. we have an example. we don't see it as users. they have to pay extra for marketing, for delivery, for payment processing, so it tends to add up and could go to the tune of 30% to 35% higher. right at the top, you talked about the potential consolidation in the delivery fee space between uber and grub hub. if we take a look at the current market share, you're seeing uber eats just at about 28% and grub hub at 17%.
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restaurant owners like this one right behind me are worried that they are just going to have a full monopoly over the market which is why he has tried to take it into his own hands and pretty much embark on a guerilla marketing plan. he's been putting personalized notes in each delivery bag, highlighted in red saying grub hub are charging us 30% to encourage people to stop using these delivery apps and instead, do it the old-fashioned way which is pick up the phone or go on their website and order so that they can provide the delivery service. it's going to be an ongoing war but right now it seems like he's still using grub hub. i would like to point that out. he's still using the platform because it does bring in some revenue. back to you. liz: got it. thank you. i'm like get in the car and pick it up. i don't want to pay any extra. we have some breaking news here. moderna, the pharmaceutical company, is hitting session lows
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right now after the medical website stat, which has been breaking a lot of news on these purported vaccine attempts, stat is reporting that a trial volunteer in the early stage of moder moderna's experimental covid-19 vaccine, was experiencing an adverse reaction. the stock is down 16%. we will watch this very closely. very important not to make huge judgments on this, because you hear good news, you hear bad news and good news once again on these attempts to find a vaccine. the incoming ceo is coming in next, and what he saw earlier than other ceos in early january that told him to get his employees out of the buildings and working from home. we'll be right back. dow is up 683 points.
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considered the day that pretty much all businesses in the u.s., if they were going to lock down, began locking down and closing up shop due to the coronavirus spread. but global financial services and payments processor fiserv had already done that two full months earlier. in early january, fiserv saw the coronavirus danger tearing through a single province in china and immediately made the call to get most of its 44,000 employees working remotely. they bought first data after first data's boss engineered a turnaround. the pandemic joins a list of crises frank bisignano has weathered. he is joining us here in a fox business exclusive right now to talk about the business. frank, what you saw back in early january that indicated to you, hold on, hold on, this will come to the united states. what did you see?
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>> well, i think, you know, we run a large global company and we are watching trends everywhere and our asia team was affected very very early, late december, early january, we began tracking and it became clear to us that as we prepare for all types of business continui continuity, we need to begin to prepare and we did that early. our asia team had done a fabulous job of reporting back what they were seeing and our recovery teams engaged in what it would mean to work from home. liz: you know, i don't know if some of our viewers know this, but you were working at citigroup down by ground zero when 9/11 happened so many years ago. you have been through that
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crisis. you have been through the financial crisis. how does the pandemic compare to all that you as a business leader have had to field? >> you know, 9/11 which was for me, a defining day, being in lower manhattan, seven world trade center, being one of our facilities, was an event that no one could have ever imagined, but it was somewhat localized. it was in lower manhattan and to people in midtown, it didn't have the same feeling. life went on around a lot of places, although it was changed forever in many ways, specifically for those of us in lower manhattan. we have never seen a world event like this. we have never seen the type of
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destruction that's occurred to human lives like this, and yes, we are beginning to feel the business recovery, but there still is this incredible human element of safety. so i think it's a lot different and i think it's a lot more widespread and for that, we make the safety of our clients and staff the number one priority. liz: before we get to the business of what you're seeing with global payments, i'm interested to know, you guys at fiserv being among the first to leave the buildings and offices, will you be among the last to return? where do you stand on getting people back into the offices? >> well, we spend a lot of time inside the company talking about
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returning, and as much preparedness as this company put into -- and it had done it for a long time, fiserv is one of the world's most admired companies in many ways, and i'm fortunate to have been a part of this. we spend a lot of time about what our preparedness coming back will be. we have thousands of workers in the office and those front line workers who are doing essential jobs, we rewarded them with a 25% pay increase because we knew how essential they were to our clients and we wanted to say thank you. we are going to be very thoughtful about their return and it will be a safe and very very secure return for our people.
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but we frequently thought we won't return in the same form that we left. we'll know in different countries and different states in the u.s. when the time is right and we'll do that in a very measured fashion. liz: well, let's talk about measuring. we saw both during march and april that credit card transactions went down. they shrank because people couldn't shop or go to restaurants. was there a shift you saw anywhere from your business standpoint? >> i think the first shift is that you saw less credit usage versus debit usage and maybe that would have been 58-42 and it moved to 50-50 on a percent basis. obviously, grocers led the way
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and many of the larger elements, and you did see a surge in that, in the first two weeks in march, then you saw the large drop. we're watching the recovery happen now, and you can see it coming back and you can see it lighting up. obviously travel and leisure have been hardest hit and continues to be hit, but you could see the comeback in terms of grocery, in terms of appliances, in terms of technology all beginning the recovery in a decent fashion right now. liz: well, we are grateful to have you, because i will say as a business leader, having worked for citi and surviving throat cancer from 9/11 and working for jpmorgan and now at fiserv, you are more than just a business ceo to us.
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you are a real leader. thanks, frank. good to see you. >> thank you, liz. liz: any time. any time. be well. closing bell is in 18 minutes. you have seen a little bit of erosion with all three major indices. the nasdaq had been up about 176 at the high. it's up 40. now the dow which had been up 711 is up 561. partially on that moderna news that just broke where the vaccine that they are in trials for, one person had an adverse reaction. that stock is down about 16%. we are following it. the floor of the new york stock exchange, remember we opened the top of the show with this, it is open for business, but charlie gasparino up next, has a full list of wall street's pretty much biggest names who refuse to sign a specific waiver that would have opened the door to the floor for them. what they don't like about it, next. be sure to tune into the fox business america works together
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virtual town hall. stuart varney is hosting the next one. the all-star extravaganza with david ramsey, ken coleman and chris hogan thursday at 11:00 a.m. eastern. send your video questions to investedinyou@foxbusiness.com. they may use yours on the air. thursday at 11:00 a.m. only on fox business. i've always loved seeing what's next. and i'm still going for my best, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. what's next? sharing my roots.
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so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. liz: yes, today, the new york stock exchange reopened but some of wall street's biggest names are not banking on a return to the fabled trading floor and it's their refusal to do one specific thing. charlie gasparino is here with the exclusive details. charlie? charlie: i'm going to get to that in one minute because i do have new exclusive details on
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the potential major league baseball season for 2020. the owners are meeting right now about a proposal, a new salary, you know, profit sharing proposal with the players that from what we understand, it moves away from the initial proposal which was a 50-50 revenue split. that means the players get half the revenues brought in from baseball, owners get half the revenues after expenses brought in from baseball, players balked at that. what we understand right now, and the details are scant here, is that they have -- the owners have developed a new plan. it's not going to be anything like the 50-50 because that was considered a salary cap. they are moving away from a plan, from that plan to a plan in which the players could make more money as the season progresses so it's not a salary cap. again, details are scant. the official proposal, from what i understand, will be developed later today. but this is pretty big news. if the players go for this, and it looks like this is something that they probably could live with, because it's not a salary
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cap, it looks like we are going to get major league baseball this year and that would be a good thing. again, be prepared for more details as the day goes on. this is a pretty major breaking story. in terms of the new york stock exchange, kind of interesting. it's great that they opened. with social distancing, not a lot of people down there, but it was very interesting to note that most of the big wall street firms, these are firms we are talking about citigroup, bank of america, jpmorgan, ubs, they all had small staffs on the floor of the stock exchange, three, four, five traders. they were not there today at those firms. why were they not there? we understand from people at these firms that they are balking at the waiver that the new york stock exchange tried to get the big firms to sign. that waiver is very interesting because we don't have the full details on the waiver other than what we do know is it involves some sort of liability protection, just in case a trader got sick. could the trader sue the new
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york stock exchange for gross negligence because there was some problem with the way they created a safe working environment. that was one thing. the other thing, this is a little more sketchy. what we were told is that there were some provisions in there that somehow, the big firms would help or aid or contribute to any sort of damages, or they will help the new york stock exchange defray any sort of damages from lawsuits. so again, these are the two things we heard. new york stock exchange has no comment. but these firms, these major firms, are still not on the floor. they may go back later. we understand one big wall street firm, goldman sachs, was there, but these others as of now, ubs, you can throw in the mix, too, were not back. back to you. liz: interesting. again, on the mlb breaking news, everybody stay tuned. charlie's going to be working that story as well. thank you, charlie. we've got the closing bell ringing in nine minutes right now. little bit of pull-back here, retracement but we are up about
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find a stock based on your interests or what's trending. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. ♪. liz: okay. we've got about five minutes left to go before the closing bell. i want to point out a couple of levels here. markets losing steam in final minutes of trade. we're still up pretty comfortably. the dow dipped below 25,000. still up 511 points. exciting for a lot of people to see that 26,000 level. s&p 500 which breached the ceiling of 3,000 now below it, 2989. we're going to guess some of this had to do there were
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reports over the last 40 minutes, moderna and its covid-19 vaccine trial volunteer are having ad least one adverse reaction. moderna stock is down. "after the bell" will have more on that. latin america's largest airline has filed for chapter 7 bankruptcy. latam. that it entered the covid-19 pandemic yet exceptional circumstances led to collapse to global demand and led aviation to a standstill but changed the aviation foreseeable future. the ceo remains firmly committed to the partnership between the two airlines. latam is not immune tote pandemic. cheryl casone in the fox news room. cheryl, these names at least in airlines are moving higher today, what else, comes to the
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"b" word, bankruptcy? reporter: hertz filed for chapter 11 bankruptcy plan. stock is at 60 cents right now this is tough news for carl icahn who is a major shareholder the company but covid-19 may not be completely responsible for hertz's trouble. they were highly leveraged and had a lot of turn over. by the way the ceo is getting a 700,000-dollar pay day a federal filing released showing the company paid out 16.2 million to 340 top executives on may 19th for retention. analysts not optimistic for shareholders or noteholders because of current economy and massive upheaval. stock was halted 20 minutes ago, liz t picked up trading pretty
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quickly. hertz, 60 cents a share right now. liz: boy. so a loss of 2.24, is a loss of 78%. cheryl, thank you very. all right. what do we know about may and june? may and june are usually the best times for horse racing fans but today's countdown closer says he has three exchange traded fund that can make your portfolio a triple crown winner. here with his picks e evaluator kevin miller. you have to win the preakness, kentucky derby, belmont stakes. give us three names of etfs you say equal the triple crown. >> hi, liz, thanks for having me on today. three components or three races that we are referencing with regard to covid-19 are testing, stock, focusing on testing treatment and then the vaccine. so there are three etfs that
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contemplate investing in because investing in any one stock is highly volatile tech sector is probably not the wisest thing for the typical investor. the smallest is bbh, vaneck vectors biotech holdings. 500 million in assets. half a billion. seven of the top 10 holdings focus in covid testings. that represents about 64% of the assets. so that will be a little more condensed a little more volatile. little smaller. connell: okay. >> the other end would be ibb, i-shares nasdaq biotechnology. it follows the nasdaq so it is going to have over 200 holdings. quite a bit larger. 8 1/2 billion. again though, it still focuses primarily on stocks and companies focusing on testing, not really doing anything, excuse me on treatments, i'm sorry, treatments.
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not doing much with testing or vaccines. [closing bell rings] liz: kevin we hear the bell. your last pick is xlv, health care select sector. thanks for joining us. kevin miller, e-evaluator funds. closing bell, nice rally. well off the session highs but still a tuesday after a holiday, folks will take it. join me 6:00 p.m. tonight @lizclaman man when futures trading begins. melissa: reopening the country, sparking a rally on wall street. the dow fighting a close above 25,000 as the new york stocks exchange partially reopens today. i'm melissa francis. connell: i'm connell mcshane. welcome to "after the bell." we were off the session highs for major averages but still really nice rally. still firmly in positive territory at the close. hopes for a possible vaccine being developed and certainly plenty of optimism about reopening the economy. so we'll cover it all. fox business team coverage.
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