bring you on because you have been right. you help our audience a lot. thank you, buddy. have a great weekend. >> thanks. you, too. charles: all right. folks, i wasn't able to do it the last couple days but liz claman, i think she will appreciate that i'm handing her a pretty good way to end what has been a tough week otherwise. liz? liz: oh, just right through the camera, just hand it to me. i will take it. i like it so much. thank you very much. although we love our short sellers, too, as always. have a great weekend, charles. too little, too late. yes, we have a lot of nice moves here. the markets are higher, but it's small consolation because the dow is having its worst week in three months and about to clock the longest losing streak in a year, even as it jumps 304 points. look at the nasdaq, up 217. as black unemployment numbers spike higher than the rest of the nation, we are awaiting president trump. he will take the stage in atlanta momentarily. he's about to reveal what he's

calling the platinum plan to encourage black economic empowerment. we will take you there as soon as it begins. it comes as the latest tiktok deadline has come and gone. we just have breaking news out of washington, d.c. the justice department has filed an opposition to a judge, district federal judge regarding a request from the parent company of the popular video app to delay its u.s. blacklist late sunday. 11:59 p.m. sunday night, this thing goes dark on app stores. charlie gasparino has late-breaking details. and there's a new riverboat gambler on the scene, looking to bring yet another online gambling app to you through a spac. the spac is really getting cleaned here. the brainchild behind kim kardashian's game is here. less than an hour to the closing bell, let's start "the claman countdown."

liz: breaking news. we will get you that news out of d.c. regarding tiktok but auto makers are hitting a red light right now after true car forecasts total new vehicle sales will drop 12% year over year this month. you can see gm, ford, nissan, those three are down. honda and tesla pushing out some gains here. tesla getting the green light as true car says the electric vehicle maker had the biggest jump in retail market share thanks to the popularity specifically of the models 3 and y. the less expensive ones. so we are looking at a jump of about 4% for tesla. let's get to movie stocks, specifically we are talking about movie theater stocks, mostly up even though william blair research says amc

entertainment is in a quote, precarious position. amc investors are liking it. doesn't matter. it's up 4%. william blair says the movie theater operator has four to five months of liquidity left. this in the face of ongoing film delays such as "black widow" and weak audience demand due to covid-19. cinemark up 3.7%. imax up 1.5%. let's see how the hot ipos of the past two weeks have fared since their debut. red-hot snowflake is kind of melting since its mid-september debut. the cloud company has lost 9% since its spike to highs of about $319. we are at $230 right now. on the flipside, unity software, that very interesting gaming company where they allow tools for gamers, that ipo is up double digits, up 31% since it ipo'ed. it stands at $89.62 a share

right now. equity investors appear to have been heading for the exits during the week ending september 23rd. listen to this stat we found. equity funds saw net outflows to the tune of nearly $15 billion. the sixth straight week of money departing those funds. in the etf space, equity exchange traded funds suffered net outflows of 12.6 billion and in that asset group, the hardest hit, spdr s&p 500 etfs, a know a lot of you guys are in that, i shares russell 2000 and the technology sector spdr fund. are we going to see the currents change in the next month? will people turn tail and start to move back into equities, particularly the large cap tech names? let's get to the floor show. phil flynn, jon corpina. phil, i want to begin with you. you have watched that. we know the energy etfs have not

looked healthy either. tell us what you think is going to happen here. does this trend continue this third straight week we have seen people fleeing? >> i just want september to be over. get it out. it's been terrible for the tech spot. it's over. it's almost over. we just got to get through half of next week. i thought the way the market reacted today, after holding some key supports and bouncing off some bullinger bands and things like that, the market has the perfect setup to rebound in october. let's face it, the tech market was the sector that brought us to the upside and had this most incredible run on the market, and the correction is what's brought us down this far. but if you look into the fourth quarter, these tech stocks are in a very good situation to rebound. especially if you get back into a covid situation, because these are the stocks that will outperform everybody else and that will be the safe haven

play. i think the biggest risk for the tech stocks at this point is a potential biden presidency because you are talking about a new tech tax that will -- may slow them down. other than that, we would expect october should be a good rebound. lot of people want to own these stocks, they want to own the best of the best. they want to own the fangs. this is your opportunity to get in and if you don't get in at this level, i think at the end of the year you are going to have to pay a lot more. liz: you know, as you talk about big tech, i often think to myself the opposite. it's not necessarily the opposite, but durable goods numbers came out today. durable goods for those who don't know what that fancy word means, listen, it's big ticket items like washing machines, cars, et cetera, that last anywhere from three to five years. i certainly hope my dishwasher lasts a lot longer than that. but phil, this was a miss. i'm not particularly worried because there were some underlying metrics that didn't look that bad but would you stay

away from those types of names at the moment? >> i don't think so. we have an incredible run in the housing sector and so the durable goods should start picking up here a little bit. there is some concern that the run on housing will slow down a little bit but our expectation is that those numbers are going to come back in a big way. i think the metrics on that look pretty good. the durable goods number's a very volatile number month to month. if you look at the underlying number, it actually expanded, the headline number missed. we are looking for it to bounce back. liz: jon, my buddy, was that you i saw giving your -- you were donating your covid plasma? did i see you post that on instagram? >> i did. i posted that yesterday. i have given platelets as much as i can to the new york blood bank. i'm involved in a program with the local hospital. i try to give as often and as much as i can.

liz: god bless. thank you. i just wanted to formally thank you and let our viewers know, because i have known for a long time what a pure and wonderful heart you have, but i wanted you guys to know. all right. back to the markets here. we got a nice move today but it's not enough to erase the weekly loss. that said, this is the third week in a row that we have seen equities flow out and into bond funds. is this a classic flight to quality and does it last? >> you know, i think what we're going to continue to see is this uncertainty and pressure in our market. historically, last 40, 45 years, october has seen a 1% positive return in the markets. but 2020, i don't have to tell you and the viewers, is an anomaly. we haven't seen anything like this before. the fact is that our associate in this market is quite different. think about, put aside what we have been through. look forward. look what we have coming in the next few months. this election coming up, they are going to write about this in

history books for a long time to come. the outcome of this is really going to make an impact overall across our country, across the globe. i think what we are going to see is as this market continues to move, we will see pressure on it. like i said, the uncertainty that we're seeing on the news every day and in the markets every day will add pressure to our markets. so in a short-term basis, i do think we are going to continue to see a pullback. we will continue to see volatility. but in a longer term basis, as we get through the end of the year, as we get to 2021, we are going to see value opportunities that are going to continue for multiple months as we get through the end of the third quarter into the fourth quarter. look at the financials. significant pressure on them will start to come back, little by little getting positive momentum in the right direction, and as we followed and loved technology on the way up, and back on the way down again, we are going to see that also as an indicator. liz: great to see you both right here. check the dow, up 376 points.

nasdaq up 246. let's take you to atlanta right now, where the president is about to reveal what he's calling his platinum plan to encourage black economic empowerment. let us listen in. he's going to make all kinds of announcements regarding new jobs and creating new black-owned businesses. >> -- or governor. we're going to have to start talking to him about that. he's a fantastic person. great man. i'm honored to be back in the heart of georgia with the truly incredible organization black voices for trump. in 39 days we're going to win four more years in the white hou house. and we will do it with a record number of votes from the black community. it's all happening. that's all happening. we're getting a lot of -- see

the people back there? they're saying what's going on over here. they're not happy about it but that's okay. our movement is welcoming millions of black americans back to the republican party, the party of frederick douglasand abraham lincoln. when i ran for president four years ago, i looked at the dismal and shameful record of the democrat party and asked black americans what the hell do you have to lose. right? and they all said you shouldn't use the word hell but i said it's more descriptive. doesn't work as well without it. today i want to share what you have to gain from voting republican on november 3rd. it will be the biggest election of our lives. for decades, democrat politicians like joe biden have taken black voters for granted.

they made you big promises before every election and then the moment they got to washington, they abandoned you and they sold you out. the democrat party used you and they lied to you every single time. you know it better than anybody else knows it. the democrats will always take back the vote. what they want to do is they'll take the vote back. they want to take the black voter for granted and they have taken the black voter for granted, and it's not fair, it's not right and it's not going to happen because we're going to have such a victory like you've never had before. in 2016 -- thank you. in 2016, i made you a solemn pledge that whether you voted for me or not, i would be your greatest champion.

since that time, i have delivered even more than i promised. it's one of those things. few politicians do that but i believe we have. before the china virus, we built the greatest economy for african-americans in the history of our country and we are doing it again. in the first three years we achieved the lowest black unemployment rate in history. the black youth unemployment rate reached an all-time low. we achieved the largest job gains for african americans on record. black americans saw the largest increase in home ownership. the poverty rate for african americans reached the lowest level ever recorded. and last year, 811,000 african-americans were lifted out of poverty, the most in over 51 years.

in my first three years we lifted 6.6 million people out of poverty, the largest poverty reduction of any president in the history of our country. i did more for the black community in 47 months, i saw they used that line, i don't want to ruin it by saying it a second time. it was in the video but i will say it again. since joe biden did in 47 years. and i'm here today to announce a brand new plan to deliver more opportunity, more security, more fairness and more prosperity to black communities. we call it the platinum plan. platinum plan. and that's a contract with black americans and it's going to be something that people talk about for a long time to come. if you vote republican over the next four years, we will create three million new jobs for the

black community, open 500,000 new black-owned businesses, increase access to capital in black communities by $500 billion, and this is investing in community development, financial institutions and minority depository institutions. build up peaceful and safer urban neighborhoods with the highest standards of and you know this, of policing. we want the highest standards. we have to have highest standards of policing. bring even greater fairness to the justice system. we did criminal justice reform. even greater. we will create a national clemency project to right wrongful prosecutions and to pardon individuals who have

reformed their lives. you saw alice, right? we love alice. she had another 24 years to go. can you believe it? she served 22 years, she had another 24 years to go. it was ridiculous. and she's a great woman. create a ladder of opportunity for african-american children by delivering school choice to every parent in america. so important. give black churches the ability to compete for federal resources for their communities. bring better and tailored health care to address the historic disparities that we've had for so many years. you know that. this includes investing in treatments for kidney disease, diabetes, high blood pressure, sickle cell disease and maternal mortality. advanced home ownership and wealth building in the black

community. bring more manufacturing back to the usa which we're doing anyway. and back to the inner cities which have been largely forgotten, although not so much in the last three years, when you get right down to it. thank you. end democrat policies that import low wage foreign workers from overseas to replace black workers in our inner cities. joe biden cares more about the citizens of foreign countries than he does about black americans living in our own country. i will always put americans first and that includes very very importantly black americans. there's much more in our plan which we're releasing today so we will get everyone a copy. it's actually been very well received and we appreciate that. the platinum plan. it's a bold vision we can and

really will achieve over the next four years. we'll be able to do it if not sooner. unlike my opponent, i'm not a career politician, thank goodness. i get results and i keep my promises and you've seen it. you've seen that. together, we will not only build up america's black communities, we'll help with your vote, with the platinum plan, we'll lift up all forgotten communities and we'll strengthen our entire nation and we are going to have an incredible four years, but more importantly, we are going to have an incredible 40 years. we are going to have many many great years because we're setting a foundation for the future. so when i'm not here, you're going to be here forever. especially, look at these young people over here. you're really going to be there for a long time. but we want this for long term. this year, the republican party is 26 black republicans running for congress. are they here? are they here? lot of them are here, right?

that's a good-looking group of people. and you're doing well. just about at every instance. we are going to help you to do even better. we will be helping you. you watch. we are thrilled to be joined today by eight of them. raise your hand. which are the eight? great. they have what it takes. that's great. that's fantastic. great job. one of them, i have endorsed very strongly. i saw an ad that i liked. i thought it was great. raise your heads. they have been now endorsed, i will tell you, and congratulations, by the way. that's going to be a fantastic -- that's going to be a fantastic night, november 3rd. now, i don't know with this ballot situation. you're not going to see it november 3rd. the democrats are playing games. you see that. you see they found ballots in a

wastepaper basket. they found ballots dumped in a stream. take a look at iowa, the primaries. remember the primary? they went to iowa. we love iowa but they tried this ballot concept and they still don't know who won. that was a long time ago. that was in their primary. the first primary. it's a very terrible thing that's happening. very very terrible thing. but you are going to be raising the hand if not november 3rd, hopefully shortly thereafter. i know you're going to be raising your hand. with me, we may end up in a dispute for a long time because that's the way they want it but we will end up winning. that's for sure. okay? we are going to end up winning. when i gave my state of the union address next year, i look forward to welcoming a historic number of black republican members of congress and we're going to take back the house. we're going to take back the house. you know we've already won some seats back. they don't like to talk about

that. the fake news. you'll find out about the fake news. have you figured out the fake news yet? you're young and handsome and beautiful. have you figured out the fake news yet? you'll learn. you'll learn. you'll learn to live with it. you'll learn to do what you have to do. but we are going to fwak ttake the house. i think we're only 17 short now. we picked up a couple. we just won a big won in los angeles, we haven't won in 22 years. we won a big one in wisconsin. great one. we won some really good ones. we are inching up and you watch what's going to happen. it's going to be a very big night for the house. it's going to be a really -- retire pelosi. that's not a bad idea. that's going to be great. congratulations, all. that's already a great achievement. it really is. but together, we'll fulfill our contract with black america and we'll pass the platinum plan into law. we will do it quickly and easily. we are also joined by a great friend of mine, dr. ben carson.

where's ben? ben. i love ben. special man. he's doing a great job. he's been my friend from the beginning. can i tell the one story? he came up to me, he was campaigning, he was the toughest one. tell you what, we had some really tough ones. lot of them like to try and say they were tough but they weren't like kasich. like kasich. he only had one thing. he wouldn't leave the race. he would get minus one, he's going on to the next one. liz: well, it is called the platinum plan. breaking news. president trump has just revealed it to encourage black economic empowerment. here's what he promises. i've got it right here. three million new jobs in the black community, creating 500,000 new black-owned businesses and an increased access to capital in black communities by nearly, what the president says, would be $500 billion. all right. check the markets.

we've got a very strong rally right now. the dow jones industrials now topping 400 points. 412 points. the nasdaq better by 260. s&p up 58. we have some decent moves in the airlines. this is more of a broad-based rally today which is certainly welcome, if you are invested. we do as we already mentioned have a very tough week that looks to be like we will close in the red but in the meantime, lots of breaking news out of federal court. we do have 37 minutes before the closing bell rings. again, dow component, i do want to quickly mention this, boeing is soaring to the top of the dow 30 at this hour. the federal aviation administration says it will conduct an evaluation flight of the 737 max and this will happen next week. no wonder the stock's up 6.33%. earlier in the day, europe's top safety regulator signaled that its ban on the 737 max could be lifted by november, paving the

way to a potential return to service by the end of the year. boeing shares standing at $155.18. a federal judge has just received the trump administration's opposition to tiktok asking for its ban which is supposed to come sunday night to be put off. up next, what happens next in the powder keg that is looking more and more like a u.s./china tech cold war? don't go away. breaking news coming up. what's. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.

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liz: breaking news. in the dramatic showdown between the trump administration and tiktok, the justice department has just made a federal court 2:30 p.m. deadline by filing formal opposition to tiktok's request that a presidential ban that is expected to go into effect sunday should be delayed.

the government had until 2:30 and they made it. they did object to what tiktok would like to be pushed away, and that is yet another ban. well, now federal judge carl nichols is expected to rule on tiktok's request before the sunday ban. what does this all mean? that lawyers for the government, for the administration, may have to go appear before this judge on sunday. this is the latest in the constantly moving deadline to ban the chinese-owned social media video app. the long and winding road through what is now a land of confusion began just july 31st when president trump announced tiktok was a national security threat and that unless it was sold to an american technology company, the president would ban it here in the u.s. he then signed two executive orders in early and mid-august banning it and explicitly saying exactly what he wanted to see, total sale, unless parent bytedance divested the u.s. arm. just a month later, oracle and

tiktok parent bytedance said hold on, we have a deal. here's the deal. oracle and walmart would get a 20% stake in tiktok with oracle serving as the web host while bytedance would control 80% and hold on to the all-important algorithm. when presented with that structure september 18th, president trump okayed the deal in principle. listen to how he put it. >> i can say that i have given the deal my blessing, if they get it done, thams gret's great. if they don't, that's okay, too. it's a great deal for america and very interesting. reporter: you have approved the deal? >> i approved the deal in concept. yes. liz: well, five or six republican senators did not think it was a great deal. in a letter to the president the same day, this group of republican senators said it looks nothing like a sale and we do not accept it. we bring in an attorney who spent years successfully representing both u.s. and

foreign companies before the committee for foreign investment in the u.s., which has the ultimate say on whether tiktok lives or dies here in the u.s., and he works for sheerman and sterling right now. counselor, your sense of what happens next. are we going to see trump administration lawyers in federal court this sunday before the ban, 11:59 p.m. sunday night? >> that certainly seems the way it's setting up to be, liz. i can tell you that's a pretty unusual step in a transaction like this. i'm sure none of the parties wanted to get here but it's also evidence that tiktok is fighting pretty hard to push off that ban and we have to see how it plays out and how the judge rules. it's certainly unprecedented in my experience. liz: i know it is confusing for a lot of people, but this is a wildly popular app that is short form video with music and dancing and the president has said since july 31st that the data of 100 million downloads, meaning american users here in

the u.s., is at risk. here's the brief that was filed. it's actually a preliminary injunction filed on the 23rd of september by tiktok. it's 50 pages long. they said wait a minute, we oppose your ban coming this sunday and we oppose it because it would hurt us markedly. we would be missing out on thousands and thousands of new downloads if this is kicked off the apple and android app stores, et cetera. how do you see this proceeding? >> well, clearly, if there's a deal struck before sunday, then hopefully this whole issue should go away. the whole basis for the administration's push to ban tiktok was clearly meant to try and get them to the negotiating table to see if they could strike a deal, a deal that met and satisfied the government's national security concerns. we thought that happened early last week or mid last week. clearly it did not happen. so the commerce department delayed the ban of tiktok until this weekend. i think we are definitely now coming to it. we will know in the next 48, 72 hours which way this is going to

end. but clearly, the parties are taking it right down to the wire. liz: yeah, they really are. unless we see yet another extension, because the commerce department already extended the ban. it was supposed to be last sunday night, then we obviously begin to see what happens to this chinese company. how important is the algorithm? we were all pretty surprised that the president said he thought it was a terrific deal even though tiktok was left with its algorithm. >> i think again, based on reports, it seems the administration is more concerned about the data of u.s. citizens. they want to ensure that that data is stored and collected and maintained in united states. the algorithm might be one of the things, the last issue on the table they are trying to resolve. but clearly, they have not met the administration's -- or satisfied the administration's concerns regarding the national security threats that the agencies think exist with respect to tiktok. we have to see how the algorithm issue plays out. but fair to say i think the parties are really pushing hard

to keep that under its control. liz: we'll be watching. a lot of lawyers on time and a half on sunday. they have to appear in federal court. it's great to have you. thank you for your perspective as a lawyer who has argued many a case before cfius. let me get to ashley webster with today's fox business brief. lot of important names here, ash. >> yes, indeed. by the way, it's double time on sundays for the lawyers. cruising giants norwegian, carnival and royal caribbean sailing to the top of the s&p. barkleys upgrading shares of the cruise line operators to overweight. analysts saying new comments by the cdc in the next few days on the industry should be positive, giving the sect oor a much-need boost even if a sailing ban is extended. more good news for cruise lines and the world, for that matter. novavax launching late stage trials of its covid vaccine candidate in the uk. the study is expected to include

up to 10,000 people over the next four to six years. weeks, that is. genius brands having an animated day. the cartoon giant finalizing a deal with samsung to carry its cartoon channel and yes, that's with a "k" across all samsung smart tvs starting today. certainly tv watching, a 2020 winner alongside the at-home esports and sports betting boom. coming up, a look at a gaming titan playbook, zeroing in on the leaders of the sports betting world. we'll be right back. so you're a small business, or a big one. you were thriving, but then... oh. ah. okay. plan, pivot. how do you bounce back? you don't, you bounce forward,

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thanks to i'm calling this a news touchdown and here it is. the pac-12 just scored. the sports betting company kicked off with a buy rating after the football powerhouse, home to my cal bears and the dreaded sc trojans, boo! yes, the oregon ducks. announced its team will return to the field on november 6th. sports betting stocks, all of them in the green. draftkings up 5% but take a look at mgm, penn national, all firmly in the green. very nice moves in these last moments of trading for the week. but there's about to be a new free agent entering the sports betting battle. we welcome dny technologies ceo, nicolo demassi. people need to know you know from gaming. you used to run blue mobile which had that very lucrative kim kardashian game.

tell us about this newe entrant. i'm fascinated to see as this sector gets crowded how you will jump ahead. >> great to be back. you're right, i'm actually still the chairman but i'm the ceo of dnyt, which is a spac. we announced a merger with a really exciting business called rush street interactive, rsi, back in july. we are on our way to closing that deal and you are correct, rush street interactive is a leader in sports betting but it's actually the number one market share player in the online casino space. so we are bigger than draftkings or fanduel or anybody else when it comes to online table games, slots, et cetera. it's a business where we have much bigger lifetime value. we have much better economics. rush street is already basically breaking even or profitable. it's not ten years away from profitability. it's happening now.

and what's most exciting about rush street is we are doing it all without spending a lot of money on marketing. that really is my sort of playbook is finding the best business with the best customer experience and the best product. i think best products win in gaming and entertainment, not the most marketing spend fundamentally. liz: marketing is in everybody's faces these days. all you have to do is watch an nfl game and you are seeing draft will did kin draftkings, fanduel ads right in your face. i have to tell you, when you bring up spacs, the special purpose acquisition company which is a fancy way of saying blank check company where you get a lot of investors' money in there, then make these purchases of as you say rivers casino, this is getting crowded. very crowded here. we have started to see something like more than 110 spacs. i believe we checked, it's 111 right now. that leads to reports that the s.e.c. is going to start

sniffing around. are you worried about that? does it put a damper on what appears to be a gold rush? >> you know, i actually consider myself to be a public company entrepreneur, as you know, in the gaming space and i think quality is always going to be here, both in the spac business and in the gaming business. so you know, we had our choice of companies for our first spac at dmyt. we chose rush street because we think they have the best product, best ground game, highest return on invested capital, and i'm a goldman spacs underwritten spac so the reality is we have our choice. my second spac, dmyd, is ultimately looking around but will also have its choice. i think that for quality teams, quality underwriters and quality companies, spacs are here to stay. we offer greater speed, greater certainty, we give you better marketing opportunities, more

transparency, more breadth, more depth, ability to access retail, and it's something that for example, rush street, our first spac, they are taking advantage of this. they are marketing this business all the way through from announcement to close and you are seeing third party public research talk about the fact we have the number one market share in online casinos. so spacs can do interesting things that normal ipos can't. we are doing that. and -- liz: you don't have to sell me. i get that. i'm just saying there could be regulators breathing down your back. let me take it here, because you have dealt with app stores and the situation with apple, there was actually movement today. apple has basically said that it would give a temporary halt to the 30% fees that these apps are supposed to give to class pass, to facebook and to airbnb. basically they are saying this is a situation where in real

world, they call it, they are going to give them until december 31st to get their ducks in order here. but fortnite and other gamers are not getting that, because apple says gaming entities don't really have a physical business or a physical event, services. what do you think about apple? >> yeah. look, as you know, i was a big backer of android and apple ten years ago when we got started. i'm kind of [ inaudible ] and look, i think these are private app stores fundamentally. apple and google and anyone else who wants to launch a store has their own devices and they can make their own rules. those rules have evolved continually for the past decade and probably will for the next decade as well. so i think gaming companies in the free-to-play space are going to keep paying 30% at least on the apple store. other stores can offer different terms. i think gambling companies like rush street interactive, for

example, my first spac deal, they operate outside the store. liz: we are going to get cut off here. you know -- you do know about advertising. it helps pay for the bills. good luck to you. thank you. we'll be right back. [ thunder clap ] greetings mortal! your journey requires liberty mutual. they customize your car insurance so you only pay for what you need. liberty power! wow. that will save me lots of money. ♪ you're insured! this game's boring. let's get tacos. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪

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liz: okay. get out your calendars and block it. in a dvr alert, we want you all to watch our special presidential debate economic undercard show right here on "the claman countdown." look at this lineup on tuesday ahead of the big debate that night. moderated by chris wallace of fox news, president trump and joe biden, but right here at 3:00 p.m. eastern, the powerful

lineup will include national economic council director larry kudlow, he will lay out team trump's vision. former biden chief economic adviser ben harris will share the former vp's position. we will have a market matchup between mike novogratz, and then along with chairman and ceo and "rich dad poor dad" author robert kiyosaki plus billionaire coowner of the milwaukee bucks, marc lasry will share his insights on the markets, economy, and more. you cannot miss this great lineup. it's the economic undercard ahead of the big night for the trump/biden debate. 3:00 p.m. eastern on "the claman countdown." tuesday, we will see you then. just a little over an hour ago, as we mentioned, the justice department made a move to keep sunday's tiktok ban deadline in place. the move comes after the social media superstar challenged the president's ban, saying it has overstepped his powers. charlie gasparino just got off

the phone. he's getting reaction to this latest twist. he joins us now. charlie? charlie: you know, it may not matter what the u.s. wants to do, what the trump administration wants to do on this deal. my sources that have been following this say it could be in china's hands. here's why. right now, bytedance, which is the parent company of tiktok, wants, needs china's approval, that means the chinese communist party, to approve the deal with oracle which creates some sort of a shell company that oracle will control the app and license it from bytedance. now, here's where it gets interesting. the chinese do not want bytedance to give up control of the algorithm in that app. your app is only as good as your algorithm. that's the deal, it's the algorithm, and the chinese, from what i understand, are growing increasingly uncomfortable with the notion that the u.s., that u.s. authorities, u.s. companies, could be pulling apart that app and that

algorithm. so this is where it gets really interesting. if bytedance controls the algorithm and won't give up control, if it somehow demands a major piece of this new company to satisfy the chinese, that would go a long way in hurting the chances of it being approved, meaning this deal being approved by the trump administration, because trump is essentially, the president is saying zero chinese influence, and if they control the app, well, then they control the whole enchilada. we have to watch this. this story is far from over. even if the judge rules this weekend that the temporary restraining order that tiktok wants be imposed, that means the trump administration can't immediately ban them, it's still got -- there's still a little ways to go here. i think next week, we will probably get some clarity. i want to switch topics to joe biden's treasury secretary. you know, it's interesting. joe biden hasn't been elected, he hasn't even debated donald trump yet. as you know, that big debate is tuesday. your show sounds great. i will be there on your show.

we will have some updates -- liz: thank you. charlie: but from what i understand, people close to biden are talking about his cabinet, in particular his treasury secretary. which will be, you know, maybe one of the more important cabinet positions is treasury secretary. it's the money guy or money gal for the administration. the names that are being floated are interesting. lael brainard of the federal reserve, roger ferguson, john rogers of aerial capital, the main three. they are considered to be people that have a good shot. lower odds are given to elizabeth warren, the massachusetts senator, and larry fink of blackrock. you would think larry fink was a long-time democrat, one of the more successful wall street executives, might have a shot here. too associated with wall street. warren's problem, on the other hand, is if she does become treasury secretary, she will have to give up her seat and a republican will be filling it.

back to you. liz: charlie, thank you so much. yes, charlie is going to be there on economic undercard debate day on tuesday for our big show, 3:00 p.m. eastern. the dow is up 346. we have to throw out all our earlier highs. we are breaking new ones here to the upside. we'll be right back. get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. (groans) hmph... ... and fight heartburn fast with tums smoothies. ♪ tum tum-tum tum tums an extra 15% credit on car and motorcycle policies? that's great! that's 15% on top of what geico could already save you. so what are you waiting for? john stamos to knit you a scarf? all finished, jean. enjoy!

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♪ liz: we are two minutes before the close of the week and the dow and the s&p 500, well yeah, they're looking at four weeks and that is the longest stretch since august 2019 and hopefully the downs will be 1.7% and s&p down two thirds of a percent but the nasdaq of a little bit of again, 1% for the week. let all spring and because we look forward to next week with the cfr hay out of etf mutual fund research without 38,082f to fund swirling around and he joined us with the one he says you might want to get into in

the weeks ahead but which are they, todd? >> we are looking at this week at the absentee value weekend and originally, been out-of-favor for a while and we think they are aversion to the meme and they got recent data that shows active management has been struggling. one in four of the active funds in that space are performed in the three year time and you want to track the index, four basis points is a good way of doing after that is one of the etf we been talking about with client this week. liz: give me your second one and about 20 seconds, if you could because the bell is coming. >> the second one is i jr, this is the small etf from i share, small caps again, to outperformed the economy if it recovers and it's cheap etf index -based strategies and small caps survive and also outperform the actively managed mutual fund. we think it's low cost etf tracking these s&p's worth

paying attention to. liz: todd, we will put your pictures on facebook, rate to have you. again, it sure is nice if you are a bull to see some green on the screen on this friday. again, set your calendars and alarms, 3:00 p.m. eastern for economic and we will see you monday. liz: a bit of good news at the tumultuous week on wall street. melissa: stocks closing of the highs of the day shaking off earlier losses and i'm melissa francis. connell: i'm connell mcshane, welcome on friday to "after the bell". good way to end it here, big tech leading the way and the dow, s&p and the nasdaq all in the green the second day in a row. especially the nasdaq bottom of screen on more than 2% paid a lot more to come on that as we had fox news team coverage set up in our top stories covered blake burman in his usual spot at the white house. lawrence's amenity is a party on the markets and edward lawrence