now. pretty good. all right. well, obviously we will be watching all these names after the bell. nikola, planet fitness, disney all coming up after the 4:00 p.m. bell rings. thank you very much to you and i want to send it to my colleague liz claman. i did my best but i got to say, i kind of failed you on the s&p 500 and nasdaq. my apologies. liz: no, really, you know, the s&p's just kind of teasing the flat line there. so you know what, i think it's just trying to give you a run for your money. we will see what happens in the final hour. thanks so much. all right. we have breaking news. just as the top senate democrat says covid relief package negotiations are quote, on the right track, one voice at the white house says it's an absolute mockery quote. trillions of dollars in unemployment benefits and help for states hangs in the balance as we head into the final 59 minutes of trade. could we see a breakthrough in this hour? we are going to take you straight to the white house for

a live update. yeah, cheryl was right, markets are losing a bit of steam late in the session. the s&p as i said, kind of straddling that line. it's up two points right now but the nasdaq which had been up, is now in the red, negative by 13 points. it was headed toward a second straight record close. don't worry. that's not necessarily in the rear view mirror. we've got again, now it's 59 minutes, we will see. are we witnessing the start, though, or at least the original sounds of a correction? our floor show traders are about to play defense for your portfolio. from white claw to bud light seltzer, now the seltzer wars, those hard seltzer wars are really bubbling up as a new competitor joins the battle. in a fox business exclusive, we have the president and ceo of anheuser busch north america to respond to coke's new challenge. and we will take you for a ride. this is so cool. on the new so-called fun utility vehicle. the ceo is here to show it to

you but also to talk about how everyone from first responders to small businesses to stars like mark wahlberg are jumping into this all-electric trike. plus it's the first time in three decades we can't for sure say that disney earnings are coming out after the bell. will the covid quarter loss be as bad as everyone predicts? our $170 billion "countdown" closer reveals his newest position and will apple really make a play for tiktok? charlie breaks it. less than an hour to the closing bell, let's start "the claman countdown." liz: tropical storm isaias is pounding its way into the northeast, unleashing heavy rains and 70 mile per hour winds. this is a live picture of the radar. new york and new england on high alert with governor phil murphy

of new jersey just issuing a state of emergency. according to power outages.u.s., more than two million customers are without electricity. we want to give you a live shot outside the fox business studios on sixth avenue in new york city. you can see, i count four cars. this is crazy. this is sixth avenue. avenue of the americas. the projected path of the storm has shifted slightly westward, giving the city a bit of a reprieve from the heavy rainfall. isasias made landfall in north carolina as a category 1 hurricane. at least two people were killed when one of the twisters spawned by this hurricane force winds hit a mobile home park. check the dow. we are up 87. we need to get to the stocks that are popping and dropping. playtime during the pandemic propelling take 2 interactive. folks bolted to their couches during the covid lockdown giving a big win to the video game publisher which more than

doubled sales and profits and take 2 also raised its full year adjusted sales forecast. the stock popping 5.33%. this is all a good precursor for activision blizzards which reports after the bell. ahead of that, atvi up 1.3%. from stay-at-home gaming to stay-at-home studying and the movement in this stock may confound even advanced calculus students. online learning and digital textbook leader chegg reported quarterly profit and revenues that beat forecasts, they raised their full year guidance and showed boffo subscriber growth, yet the stock is trading lower by about 2.25%. that stayed, perhaps it's a little profit taking on a stock that's done pretty well. virgin galactic shares, ticker symbol space, thudding back to earth after the space tourism company reported a wider than expected quarterly loss and also, it filed for a public offering of 20 million shares. sometimes investors perceive that as dilutive for the

outstanding shares that are there. we have space moving lower by 12.5%. the news comes after rival spacex's crew dragon endeavor capsule made that historic landing on sunday. from rockets in space to the rock rockettes in new york city. this year's christmas spectacular officially canceled for the first time ever due to the covid-19 pandemic. tickets for the holiday show known for its high-kicking rockettes and live camels will be refunded for those who are holding them now. the company also says it will have to lay off a third of its work force. msge nursing a pulled muscle at this hour, down 1%. is it going to be a trillion, three trillion? what will be in it, regardless of the top line number? we are about 25 minutes away from the start of another round of negotiations on capitol hill where law makers have not yet reached a deal on the

coronavirus relief package millions of unem mroi eemployeds are waiting upon. white house press secretary kayleigh mcenany said the democrats are making a quote, absolute mockery of this process as they have rejected four offers from the white house. she did neglect to mention that republicans also rejected the democrats' plan that the democrat controlled house passed back in may. so let's look at the two plans together. the democrats for now are proposing $3 trillion in relief. the plan extends through year end the additional $600 per week in emergency unemployment benefits and another $1 trillion in assistance for local and state governments, who very well may have to lay off lots of employees. the republicans have a smaller plan, much smaller, $1 trillion. that's the total. cuts the $600 per week down to $200 through the end of september, after which benefits would equal 70% of wages when combined with state benefits.

to the white house live and blake burman. blake, senate minority leader chuck schumer just hinted there might be progress. he is speaking live at this hour. what can you tell us from the white house? reporter: he has been talking about progress but you also have to wonder if there is option c which is nothing at this point, because you have to really and seriously question what the way is going forward here among democrats and republicans in the next step relief measure. here's why. earlier today, the top two white house negotiators, steve mnuchin, mark meadows, chief of staff, met with senate republicans during their lunch. they are set to meet next with chuck schumer and nancy pelosi later this hour. after that lunch, just to give you one example, john cornyn, top republican, was asked about what comes next, what plan comes next, and cornyn said there is no specific plan because democrats aren't serious. that is their take. however, mitch mcconnell, you see on your screen there, also openly acknowledged after that lunch that republicans are

seriously divided. senate republicans seriously divided on a way forward. the only thing it seems as if the republicans can agree on at this point is that the $3.4 trillion plan that democrats have passed is a non-starter. watch here. >> if you're looking for a total consensus among republican senators you're not going to find it. we do have divisions about what to do. what we're hoping for here is a bipartisan proposal. we're ready to help. hopefully we can get rid of the trillion dollars that's unrelated to the problem. reporter: i also want to note that earlier today, the white house was asked about the comments made by the minneapolis fed president over the weekend, who said the economy can be saved if there is a four to six-week hard stop. the press secretary kayleigh mcenany was asked about kashkari's comments. this was her response. >> i'm certainly not going to engage in hypotheticals but no,

theme president is not considerg a national lockdown. what he is encouraging is mitigation efforts like wearing a mask which is patriotic, like social distancing and engaging in these really common-sense safe measures to safely reopen and avoid the health consequences of a lockdown. reporter: so chuck schumer has been talking about progress, though it's certainly a foggy way forward as to how you might get that progress or at least get to the finish line with it. larry kudlow, the president's top economic adviser, today told stuart varney that one of the things that the white house feels president trump can do with an executive order is to extend the eviction moratoriums because that deals with federally backed loans or at least deals with the loans that are federally backed. when you talk about -- start talking about what we can do via executive order, and you start talking about that openly, it really goes to show where things stand at the moment when the discussion is what we can do if there is nothing legislatively at all. liz?

liz: you also risk triggering some type of domino effect for anybody who owns rental buildings. mr. trump himself will be watching all of that. blake, thank you very much. blake burman. by the way, we will hear more about what president trump has to say about the negotiations today, because he's joining lou dobbs tonight, 5:00 p.m. eastern time. in just a couple of hours. don't miss it. with the closing bell ringing in 51 minutes, the dow, well, weave've got a nine handl here. ralph lauren ripping at the seams in this final hour after pandemic store closures sparked a 77% drop in quarterly revenue in the north american stores. the iconic fashion chain reporting sharp sales declines, not just in north america, though. across the globe. shares right now down 5% to $66.18. many retailers getting ravaged by the pandemic but big tech holding strong. the record-shattering nasdaq

looking like the energizer bunny. so why is one of the street's biggest names sounding an alarm? that warning and how to play it, next on the floor show. don't go away. it's easy to get lost in the economic uncertainty. the volatility. the ambiguity. the moment calls for more. and northern trust delivers more. with specialized expertise. proven strategies rooted in data and analytics... and insights borne from over 130 years of successfully navigating economic turbulence. giving you clarity. inspiring confidence. and helping you uncover new paths forward. northern trust. wealth management.

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liz: the tech-heavy nasdaq's pretty much unstoppable run seems slightly on pause at least right this second. if it closes higher at all today, that will be the 30th record finish this year. by the way, last year, in total, 31 records. already at 30. now for the first time since 2012, technology stocks make up 50% of the index. yes, the year to date gains have been powered by a landful of popular stocks from netflix to tesla, apple and a in,md but it not just the marquee names. check out the year to date returns for docusign, cadence, idex, up 56%. docusign up 209%. those names also giving tech bulls a major assist. with the epic run-up and a bunch of unresolved risk simerring under the surface, morgan stanley wakes up today and says quote, we think the most likely

outcome remains a 10% correction in the broader index led by the beneficiaries before the recovery and then the bull market continues. to the floor show and our floor show traders. guys, listen, let's just say morgan is right. if you were to rotate out of tech for safety purposes or at least you take some profits here, what would you rotate into? phil flynn, you first. >> first of all, i think there's a lot of people watching today that are praying for a 10% correction because they want to get in. right? liz: exactly. >> morgan stanley is saying hey, guys, we are looking for a correction to buy. trying to predict a 10% correction is like predicting it will probably rain pretty soon. it will happen eventually. when it does, you hope you have an umbrella. but assuming that you want to say i don't want to get out for this 10% correction, i want to look for a sector but you really believe we are in a bull market, you probably want to pick a

sector and pick the strongest names in the other sector because if you are going to sell some really good stocks, buy the best stocks in another sector. for example, consumer staples. don't buy the garbage if you think you are in a bull run. buy the best of the best. it's cheaper. names like jm smucker, campbell's soups. they have done well during the coronavirus. if this bull market continues, they should continue to run and should benefit as tech continues to fall. liz: yeah. you know, it makes absolute sense to take profits, tom, but again, if you're looking at names that really have staying power, sure it's big technology, but let's just say for the most you rotate out of them. what do you like here that isn't overbought? >> well, i think i want to follow warren buffett. if you noticed in the last two weeks, he's bought $1.7 billion of bank of america stock and

everyone said when warren is [ inaudible ] he's buying these cheap stocks, they say has warren buffett lost his touch. the answer is always no. i like bank of america. i like wells fargo. the regulators are going to have to lift that asset cap on wells fargo if they want to see our recovery be sustainable and strong and steady after all the effort that's gone in and i think morgan stanley noted correctly [ inaudible ] we will have 27% earnings growth in the s&p next year but only 14% earnings growth in technology, 33% earnings growth [ inaudible ]. liz: yeah, you know, your signal's a little bit sketchy here. but i'm looking at the price-to-earnings ratio. we try and let our viewers know this. the pe ratio for bank of america is 15. that's cheap. then you look at the pe ratio -- i mean, amazon is like at 120.

we talked about that the other day. let's just say apple, apple is certainly higher than that. as we check that pe, phil, i see these names and i say okay, profit take. pe of aum pple is 33. >> no reason why you can't take profits. he's absolutely right. some of these banks look very good. the reason why the bank stocks have underperformed recently, had some concerns about the coronavirus write-offs but also because of low interest rates. if you look from a big picture, interest rates aren't going to go a heck of a lot lower from this point. you only have upside. and you've seen that the volatility on the banks, their trading arm in most of these banks have done pretty well. let's face it, we get a 10% correction in the nasdaq, that volatility is going to stay high and it probably means they will do very well on the trading. liz: okay. i would be remiss if i didn't bring up gold as we finish up this conversation. gold is now above $2,000 per

ounce. now we are at $2,000. yeah. that's right. look at it now. gold making a big move, pushing through any resistance to the upside, now at $2,023 per troy ounce. a gain of 1.8%. dow jones industrials is up 100 and we are watching the nasdaq, waiting to see if we have another record. phil and tom, great to have you both. we have the closing bell ringing in about 41 minutes. disney's "star wars" spinoff "the mandalorian" nominated for 15 emmys but the quarterly results expected to be anything but award-winning. what we will do is crush the numbers ahead of its quarterly report after the bell and that's straight ahead. and the wait list for polaris' loads of fun atv is still a long one but check out the automaker taking the fun from the backwoods on to the highway. arcimoto's newest electric vehicles are so hot, even actor

mark wahlberg is buying one. up next, a fox business exclusive with the ceo on charged-up ev demand and the newest offering for the front lines of the pandemic fight. don't go away. this is decision tech. 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: fuv. not only is that short for fun utility vehicle, it's the ticker symbol for a company that suddenly is in big demand. actor and entertainer mark wahlberg recently treated himself to one of arcimoto's all electric three-wheel vehicles that looks like a cross between a motorcycle and a car. the tiny fuv can cruise up to 75 miles per hour and is small enough that three of them can fit into one parking spot. more than 4,000 people are already on a one to two-year long wait list for these fuvs.

mark wahlberg and his restaurant, here's how he came into it. he's teaming up with arcimoto to field test the delivery ev called the deliverator that will be in florida. shares are up more than 280% this year. arcimoto founder mark frohnmayer joins us in a fox business exclusive. this is fascinating to me. you guys have been around but let's talk about first your consumer business. actually, your commercial business, then we can talk about what you're doing with ifirst responders. give me a sense of what the commercial business looks like right now. >> so the basic idea of arcimoto is to right-size the footprint of daily mobility. that applies to individuals, going to get a cup of coffee and it also applies to a whole range of fleet trips, whether you are talking about last mile delivery of food and parcels or just general fleet utility.

you think about the number of campus operations, whether you are moving tools to a job site, going to inspect a building. right now, we typically use 4,000 pound gargantuan vehicles to carry one or two people and a relatively small amount of stuff. the basic idea is not to change your transportation pattern but really just to build the right tool for the job. liz: now, let's talk about cost here. i know for consumers, the cost is about $19,900. that would be for the fuv you began at least production for last september. a lot of people have preordered this thing? >> we have somewhere around 4500 preorders for the fuv and its variants. we launched the production of the consumer version in september of last year and then just this march, unveiled pilots of the rapid responder which is for first responders to more

quickly get to the sites of incidents and then the deliverator which is all about last mile delivery and during the pandemic, of course, last mile delivery has gone from being a convenience to really a function of health and safety. liz: also, last mile delivery is a big deal obviously with the delivery world that has become amazon that we all depend on so much. let's talk about the first responder business. you are testing this out in eugene, oregon, as i understand it. how's it going? what challenges have you found? >> we have actually been piloting now for a couple of months with eugene fire. the early response from them is they are actually rethinking their service delivery model based around smaller form vehicles. the rapid responder can get, you know, we've got hundreds of miles of bike paths in eugene springfield area, so the vehicle can get places where a full

sized vehicle can't. that's a benefit for cities like eugene. it's also a huge benefit for dense urban areas. if you have ever been stuck behind an ambulance going up sixth avenue in new york, the one thing you wish is you are not ever on the other end of that call. so the real benefit of the rapid responder is it can much more quickly make its way through traffic, get the first responders there in order to administer life-saving support while the larger vehicles get there over time. liz: well, the stock obviously has done very well. it is a smaller cap stock but as we look at what the future holds, i'm thinking about the united states postal service. you talked about that sort of last mile delivery. it seems like, because i see our postal guy come and we appreciate roger so much here in my town, but you know, he pulls up in a very large truck. so do you foresee at some point having a government contract where you can really scale up?

>> that's certainly something that we would be very interested in talking about. we have been focusing as a new vehicle entrant on the consumer market just because it's sort of the lowest hanging fruit, easiest to close the sale. as we scale up production, we think that the fleet markets, both commercial and government, are going to be huge opportunities for growth. liz: yeah. before we go, that's all very nice for california. but it snows in eugene. this thing is so wide open. what do you say to people who say that won't work in cold weather? >> it's just like a jeep. when the weather's nice, you take the doors off, you're in the world, you get to enjoy that experience. we have half doors that are just about to go out and full size doors on the drawing board. so it lets customers in different areas choose what's right for them. but one advantage to having the full pairing is it really does keep the water off. i drive it year round here in eugene, rain or shine.

liz: mark frohnmayer. i need to test drive just for research purposes so the next time you're in town, i saw you tooling down times square. good to see you. good luck to you. thank you so much. >> thanks, liz. really appreciate it. liz: arcimoto. closing bell ringing in 30 minutes. yes, the dow is holding steady here. it's the nasdaq that's still down just under two points. any gain, even a fraction, will be the 30th record close of the year. all units except north america saw sales declines in hard seltzer. net sales slipping for the world's biggest liquor maker, diagio. even so, hard seltzer is absolutely the new growth battle front for the entire spirit sector. up next, what anheuser busch

north america ceo on the new seltzer he's got coming out and what he thinks of his newest competition from the biggest name in pop. the ceo is joining us next. ta-da! did you know liberty mutual customizes your car insurance so you only pay for what you need? i should get a quote. do it. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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♪ ♪ ♪ liz: coca-cola, the latest beverage company to jump into the hard seltzer game. coke is up .33% right now. coke is going to launch topo chico hard seltzer in select latin american cities later this year. the company calls it an experimental entry into an industry that bank of america says is a breakthrough in the alcohol business. of the big public names in the sector, none is growing faster than bud light seltzer. anheuser busch says sales have grown 650% so far this year as

more americans turn away from the heavy calories of beer into a lighter, more fitness-friendly option. let's hear this story. joining us in a fox business exclusive, a man who knows a thing or two about all kinds of spirits, anheuser busch north american ceo. michel, this is suddenly a real opportunity. hard seltzer got very hot during the pandemic but before then, it was already growing. when did you get into it and tell us about bud light and as a seltzer that's done so well. >> hi, liz. seltzer is one of these emerging segments within the industry that brings together several different mega-trends that consumers are going after. as you said before, it's light in calories, bubbles are smaller so you drink and have less sensation of becoming full, and i think that brings a lot of flavors. it's fun to drink black cherry or tangerine or lime and have

different options when you're having your drink. it's a good segment because it's growing, it's expanding. beer industry as we look at this industry, it is in the cross order of what is a beer and what is a spirit so it's attracting a lot of consumers coming from hard liquor, a lot of consumers coming from wine. more than half of them come from beer and the wholesalers and retailers and company are happy we have developed this segment. we are a rising star in this portfolio, bud light seltzer is doing very well this year, more than 10% share. it's lifting our entire growth to 600% in the second quarter of this year and we could not be happier with the developments so far. you should try the light seltzer

if you didn't yet. liz: i should and i will say simply that i was a wine cooler girl back in the '80s. isn't that tacky? everybody made fun of me but i think hard seltzer has had the cool factor to it. but michel, here comes the 800 pound gorilla. coca-cola is entering this segment and will have its topo in latin america. i imagine if it sees any success at all it will jump into the united states. how do you stay in the lead? >> i think that they don't have a lot of knowledge about what they are going to do but it's a pilot in some south american cities and they have been trying to expand their portfolio in several different directions. i'm not quite sure why they are bringing alcoholic beverage. we have to watch and see. in the u.s. it will be one more

because there's already like hundreds of companies, big and small companies, trying to tap into this segment as any given growing category or segment, people jump all over. there is proliferation of players. then after that, you have a handful of players that will really stay there for the long term. at ab we have a long history of playing this segment. we are doing our best for consumers because they need to make the final decision on that and we are offering them great liquids, incredible taste, great variety so we can make sure we win with consumers because they make the choice. liz: yes. well, you know, white claw's a big name. that's more of an independent company. let's just ask you, for your broader portfolio, a lot of your sales in the past have come from big sporting events, arena sales. what has it been like for you and what have you had to do and

had to change as the ceo of a company where all of these stadiums are now shuttered and for the foreseeable future, we don't really have any clarity. >> yeah. this global pandemic is an incredible event in people's lives, right, and we are glad to see that so far, our company has been enduring through this period of crisis. for us, three very clear priorities start earlier this year. the safety of our people, so we have implemented several measures to make sure our people are safe. they are the most important asset that we have. second, making sure that we can maintain business continuity. that is a lot of disruptions in the supply chain and we have retailers, wholesalers, relying on us and consumers ultimately because they need the spirit of normalcy when they go there and make their shopping. then support iing communities.

those are the three main priorities we decided to tackle during the pandemic. when you think about the hospitality centers, stadiums, all the games, restaurants, hotels, bars, they have been severely disrupted and we are standing together with them when it's safe to return, so safe return for sports, safe return for bars and restaurants, but they are facing big challenge. we are directing to supermarkets and groceries because they are open and operating and we have been partnering with national restaurant association in order to make sure we can safely come back when -- liz: yeah, well -- right. right. yeah. so much depends on the players.

staying safe. the cardinals, oy, all right. michel, good luck. we're watching. yes, i will try bud light hard seltzer. >> thank you very much. liz: we're coming right back. the nasdaq now positive, that's a record, folks. will it hold until the end of the session? got to stay with me. charlie breaks it next on tiktok and maybe a new suitor? maybe not? !! guys! guys! safe drivers save 40%!!! safe drivers save 40%! safe drivers save 40%!!! that's safe drivers save 40%. it is, that's safe drivers save 40%. - he's right there. - it's him! safe drivers do save 40%. click or call for a quote today.

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liz: we have a question for you. since when does the leader of a country get a finder's fee for forcing a merger of two companies? well, probably never, but that has not stopped president trump from hinting he wants a finder's fee. as microsoft looks to buy social

media platform tiktok with billions of dollars potentially exchanging hands. what happens if that deal goes through or what happens if a spoiler company jumps into the bidding? to charlie gasparino. there are a couple of pieces to this pie, right? charlie: yeah. i mean, i've always been cautious on this story and you know, we broke it here on fox business first that microsoft was in talks to buy the u.s. portion of tiktok and maybe a few other places -- pieces. i have always been cautious about it. this needs regulatory review, high level regulatory review. on top of that, throw in the threat of a donald trump inserting himself in the middle of this process which he has, and you know, you have a mess on your hands. i wouldn't doubt it, liz, if microsoft walks away. the problem tiktok has that even though there has been at times other suitors looking at it, we have reported that google has kicked the tires, facebook has

kicked the tires, apple's probably kicked the tires although they came out today and have said publicly they're not interested. the most logical suitor from an antitrust standpoint is probably microsoft although something else happens, something a private equity deal which you know, we are talking lots of money here but again, this needs regulatory approval and donald trump seemingly looked like he was going to approve the deal with caveats that microsoft would have to show that the information that tiktok has is not being infiltrated by the chinese government. remember, tiktok is owned by bytedance, a chinese company, and the allegation that is heavily denied but the allegations they are sharing user data. so trump sort of inserted himself, more than sort of inserted himself yesterday and said the treasury department wants a finder's fee. we do know this. microsoft and tiktok's parent, bytedance, are unlikely to pay

the fee. at least that's what we're hearing as of now. you know, microsoft continues to weigh the scope of this bid. listen, a lot of people think that microsoft might walk away because they will come to the realization that you need maybe all of tiktok, not just the u.s. portion, maybe a few other countries, to really make this work against global competitors. you know, we should talk about -- here's something else that's interesting. microsoft has been in discussions with -- about bringing potential partners in if it does bid on this. it would be a big deal. they do have the cash. but from what i understand, they are talking about potential partners. i do not know who those partners are but i know they are talking about that. you know, maybe private equity on that. now, here's the interesting thing. we should flash john coffey's comments on this. it's fascinating what he said. do you have that comment? liz: from the professor from columbia. yes, we do. charlie: that comment is

fascinating because it basically says that with all due respect to the president, he wants this money going to treasury, not to himself. that's his finder's fee comment. but it smacks of -- liz: of course that's what he meant. charlie: here's the thing i think trump's got a problem now. liz: it smacks of -- how about this, charlie. how about this, charlie. it smacks of international kleptocra kleptocracy. it sounds absolutely nuts to say we need a part of this deal. but apple, what about apple? has apple kicked the tires? is apple showing any interest whatsoever? that could pass regulatory muster. charlie: i think everybody kicked the tires on this thing, just so you know. apple says it's not interested. here's the problem with that statement from the president. let's just say the president finds a way to -- he goes another way, right. microsoft and tiktok, they do have some sort of legal redress now because what they're saying,

what they're essentially going to say is the reason why he's doing this is because we're not going to pay his finder's fee. this is really damaging stuff. liz: i know. i know. he's a disney guy. you talk about kevin mayer who left disney to run tiktok. he's a legit operator. tiktok servers are nowhere near china. he probably went into this thinking yay, now he has to deal with this situation. you suppose any deal would ensure he's the leader of the company? charlie: it's unclear. it's unclear. listen, if microsoft buys, it's usually when you buy something you put your own people in. but there will probably be a transition. who knows. maybe they think he's good enough. i'm just saying the sort of national security and sort of political angle of this story just got so bizarre with that statement that there is no deal here until you see the deal. just remember. we got a long way to go. by the way, the white house did -- liz: charlie, thank you.

charlie: there's some statement about the type of order the president is going to hand down, the by vedivestiture or ban or whatever is coming down in the next couple days. be prepared for that. liz: thank you very much. we have to run. disney earnings after the bell. we got your preview and yes, it was the exclusive streamer of "hamilton." we will find out what kind of opportunities that may bode for the future for disney. (vo) since our beginning, our business has been people. 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. look, this isn't my first rodeo

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so yofind a stock basedtech. 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: take a look at disney's stock. they are reporting third quarter results after the bell. notice i said results and not earnings because we don't know. we know this. the mouse house is expected to post a loss per share of 64 cents. its first loss in more than is a years on revenue of

$12.3 billion. to cheryl casone this is much awaited report, is it not? cheryl: a lot of questions about this report. is disney plus the only plus for the numbers? it is minutes away. there are new concerns about three core businesses. the theme park business is a problem. disneyland is shut down for the fourth time in the company's history. disney world in florida reopened july 11th. it has been lukewarm. disney cruises is docked. that segment is worried. movie, tv side of the business, prongs shut down amid the pandemic. august 26th release of big budget remake of of mulan. on the tv side espn without sports they have been struggling. then there is robert iger. he announced he was is hing down as ceo of 15 years. but are investors going to have

faith in that leadership? this is disney plus. they have a lot of fresh content. old favors. streaming hit with the broadway musical "hamilton" which likely drove the subscription numbers. pushing movies to the streaming service a lot earlier, frozen 2, that is available for three months early. there is muppet series which analysts say is pretty good. theme park opening could be a bright spot. baseball, basketball. the others say film business is a drag. we'll find out in a matter of moments, liz. back to you. liz: maybe we find out when streaming a stand-alone business is profitable. it might be a while now. cheryl, thank you. our 170 billion "countdown" closer took a new position in his portfolio. he will tell you how he is investing. eric friedman is here. eric, get to it, describe what you have just put together for the portfolio. >> well, liz, thanks so much for

having us on. i would say our bias is stay domestic with respect to equities. there is lot of discussion about the u.s. outperforming its international brethren for a long time. we think that continues. we're still favorable on u.s. large cap tech and large cap core and we think there is a lot of value relative to places like europe, places like japan and places like australia. we still think owning domestic large cap equity, even though it has done really well is still the place to be. liz. you have a barbell approach that you have put together, specifically overweight u.s. large cap tech, as you said, s&p 500 position, the middle would be neutral emerging markets, right? you're underweight international. that makes sense. are you worried what is happening in d.c. the next couple hours as we await on a new relief package? >> there is three things in front of us. one is the relief package. two, back to school. you're a parent. i'm a parent. that is concern for you will of

us and also for the economy. finally the election. the election is a material issue we have to look itself through. [closing bell rings] [inaudible] help -- liz: all right. it is good to have you, eric. thank you. eric freed man. that will do it for us. it's a record for the nasdaq. jackie: negotiations on capitol hill. white house officials just wrapping up a meeting with top democratic leaders to try to find a deal on covid-19 relief as we await for results from disney. i'm jackie deangelis in for melissa francis today. this is "after the bell." the dow closing near the highs of the session. the s&p 500 edging just a little bit higher. the nasdaq closing at a record high for the second day in a row. we've got fox business team coverage. blake burman at the white house. kristina partsinevelos watching the markets for us. edward lawrence is in washington.