show, i hope i'm wrong about all this. charles: right. right. you know what, i hope you're wrong but i think eventually you will be right about it. in the meantime, i guess we try to make the most of it. gary, always appreciate your insight. meanwhile, a senior administration official telling fox business that speaker pelosi and secretary mnuchin are speaking about the next covid relief package right now. liz claman, that's probably why we are getting a little bit of a bump heading into the last hour of trading. liz: hundred percent. you are on it and we are on it. thank you, charles. indeed, yes, what you are seeing is traders saying wait a minute, earlier in the day we were playing it close to the vest as we head into the final hour of trade, you can see green on the screen because while stimulus negotiations do have what appears to be a slight [ inaudible ] now within the past couple minutes we know at this hour house speaker nancy pelosi and treasury secretary steven mnuchin just connected. they are speaking.

so as we await those developments, we've got the dow, let's check it here, up 52 points. the s&p better by 15. the nasdaq, up 58. all three of these indexes were down double to triple digits earlier. right now, the nasdaq has been on fire. now, since the march lows, it's been the winner, right? the home of apple, facebook, microsoft and so many of the tech blue chips is a stock that is up. nasdaq ceo is here to tell us where she sees big tech and all the other sectors in the nasdaq heading in the near future. and what might happen after the november 3rd election. plus the zillow cofounder is not house hunting, he's company hunting. he's here to tell us what he's looking for for his blank check company, his spac called super nova which just blasted off. self-driving cars, speaking of blasting off, roaring into

the future and the present, hitting the streets of san francisco without a backup driver for the first time. gm's cruz ceo here with how it's going and should he convince you guys to get in one of these things? let us get theo a fox busins alert. strong demand for tech stocks during the pandemic have fueled the nasdaq but more importantly, as you look at the nasdaq composite, yes, we are up 57 points at the moment, but the nasdaq itself, ndaq, has been a winner at about 131, 132 a share right now for ndaq. they have reported stellar earnings and what do we have here, $1.53 on net revenue of $715 million. four years ago, this stock was half the price. it was around $65. why do i bring up four years? because joining me now is the

woman who took the helm as nasdaq ceo exactly four years ago, november. adena friedman. adena, i really feel credit should be given where credit is due, and you very much get the credit. you and your team over the past four years, through thick and thin, have plowed forward but i want to talk about this particular quarter. revenue up $83 million. what drove it in particular this time around? >> thanks for having me, liz. it's great to be here. yes, we are really proud of the quarter that we've had and actually, the performance year to date, particularly given the uncertainty earlier in the year. but what we're really finding is that our business is leaning no a lot of key trends in our industry in terms of creating more advanced markets to support the level of volatility we're seeing as well as also making sure that we provide technology that helps with risk management across the industry. we have the world beating surveillance technology for the industry and now we have also launched an anti-money laundering investigator tool to support that.

then we also have data and analytics and an index business that are leaning into a lot of the trends our investors are interested in. most notably the nasdaq 100. that's on top of the fact that we have had really strong volumes in the markets as well as stellar ipo issuances. we actually had 105 ipos list on nasdaq just in the third quarter, which is the most ipos any u.s. exchange has seen in the last ten years. we just seem to have a lot of short-term and long-term trends driving our business right now. liz: yeah. i want to talk about the one trend of spacs because we have spencer rathcof coming up, he just launched a spac on the nasdaq in particular. the numbers are pretty stunning. nasdaq saw 55 spacs go public with more than $12 billion raised during the quarter. what do you make of the rise of this and how do you vet these special acquisition companies? >> sure. well, normally, i'm proud of all the companies that come and list

on nasdaq. in fact, we have had 137 operating companies list on nasdaq so far this year, and that really looks at essentially, it's an 80% win rate across all of the operating companies coming to the market. we also have a really wonderful collection of spacs that have come to the market and listed on nasdaq. as you just mentioned, including on spencer's spac. so the spac world today is really coming into its own. it's kind of maturing because of the fact more and more really high quality managers are coming out and choosing to raise capital in the public market and then go to try to find a company that will be a great combination for that sfpac over the next couple years to then bring public. it's really an alternative way for companies to go public. it gives them more choices between a traditional ipo, they can also make a combination of spac or they can do a direct listing. all of those are just really great new ways for companies to be able to tap the public markets.

liz: the majority of the nasdaq 100, that particular index, at least the majority of heavy weighted names are these huge tech stocks, including the googles of the world, alphabet google. right now, we do have the department of justice setting its sights on google and some of these other companies, but particularly google, putting its shoulder behind these suits and accusations of monopolistic behavior. where do you see this going and affecting these names? >> well, i think the first thing we have to remember is that these companies have really, the largest tech companies have really changed the world and many, many, many positive ways. they connected us, they have made consumer behaviors more convenient. they have given us access to the world in terms of search. and we have to, i think it's always important to remember the great benefits of these technology companies have provided to society but they also of course have their responsibility to do it all in the right way, and i think that my view is that we have to remember also that we are in a global competitive landscape, so

the united states continues to be the home of innovation and the greatest economy in the world, but we are operating and competing against other giant technology companies elsewhere in the world so we have to look at the balance of making sure that they can be competitive in the global landscape while also continuing to serve society and the communities the right way. liz: yeah. we don't want to mimic china to beat china. i know you probably feel that way as well. am i correct in that? >> i think that the united states is, again, it's the best economy in the world and we have great innovation and we are the home to innovation around the world, and we want to make sure that we continue to foster innovation while also being able to compete effectively. in terms of having these large tech companies that can effectively compete with other tech giants around the world. liz: we are seeing a lot of volatility heading into the election, which is really just under two weeks away. do you see any changes after the

election or listen, right before, and how do you as the ceo of an index, which is subject to volatility as well, how do you anticipate dealing with any of that or increased volume, perhaps? >> we have been investing in our capacity throughout the year so between january and march, we saw a doubling or tripling of the volumes and the message traffic flowing through our systems and we were able to handle it very well. now we of course have a new peak. when you have a new peak, you then have to build capacity to manage to that new peak. so we have been building out our capacity and continuing to invest in that throughout the year, so that we can handle even higher peaks and more volatility if that's what the markets demand. so we are very ready for it. i think that it is -- it's going to be an interesting time in the next two weeks as we understand leading into the election and then of course, understand the implications of the outcome. liz: listen, we are all competitive here. year to date, your competitors are underperforming you guys.

the parent of the new york stock exchange, the cme, they have underperformed what you guys have done. i believe nasdaq is up 23% year to date. cme up -- down 18%. i.c.e. up 8%. what do you want to change, or do you not mess with a winning formula here? >> well, what we are really proud of is that we have diversified the business to have the majority of our revenues, more than 70% of our revenues are recurring revenues in nature, and we have a lot of technology and data assets and data businesses that really allow us to lean into the long-term trends of the industry. i think our investors are rewarding us for the diversity that we've created and the fact that we have assets that are really growing in this environment really nicely. liz: adena friedman, ceo of the nasdaq. we are seeing that volatility again, because now the dow has just turned negative once again as we are waiting on stimulus. great to see you. please come back again.

thanks so much. >> thanks very much, liz. thanks. liz: any time. ade in, eshg adena friedman, ceo of the nasdaq. move over, facebook. new social media rock stars as far as stock performance are concerned in the house. look at snap. snap, the parent of snapchat, jumping 31% right now after reporting a surprise profit for the third quarter. user growth surging 18% as people got their snapchat on to stay in touch with family and friends during the pandemic. snap's strong earnings actually the reason goldman sachs and bank of america upgraded pinterest to a buy rating, so pinterest jumping 10%. goldman slapped a $61 price target on the online image sharing platform. right now, pinterest is only at $49.95. while snap added users, netflix missed on subscriber growth in the last quarter, adding 2.2 million versus the 3.57 expected.

3.57 million expected. earnings also missed expectations. the entertainment giant blames the drop on the glut of subscribers -- i wouldn't call it a glut. i would say subscribers front-loaded in the first half of the year as lockdowns began and everybody had to see umbrella academy and joe exotic in tiger king. who didn't watch that in the first half? nanocap astro tech, why are we talking about a nanocap? it's rocking into the stock heavens after it announced a partnership with the cleveland clinic to develop a rapid screening test for covid-19 that essentially requires patients to breathe into a tube and get results in 60 seconds. no stick up your schnozz. astrotech jumping 41% right now. elon musk's spacex odyssey soon to be a tv movie but buckle up, because this afternoon it's

all about the electric vehicle genius's auto behemoth tesla. we are plugging into all things ahead of tesla's earnings after the bell. with the closing bell ringing in 49 minutes, "the claman countdown" will be right back. it's either the assurance of a 165-point certification process. or it isn't.

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liz: we've got these breaking news headlines right now. stimulus headlines are actually causing the volatility that you see. we popped up, then you see at the far right that tiny dot of red. white house chief of staff mark meadows moments ago told fox news that the president is willing to lean in on a stimulus deal and that the administration right now is ready to go up from $1.88 trillion to $1.9 trillion as the top number for relief funds. meadows going on to say it is unclear whether speaker of the house nancy pelosi will accept the deal. right now, the democrats are at about $2.2 trillion but at some point, according to meadows, pelosi will have to accept yes for an answer.

the dow clearly not feeling totally confident here. it was up, then it is now down just by about five points but we are watching this closely. in the meantime, let us throw this into the picture. what is tesla's stock going to do in about 45 minutes? that's when it reports third quarter earnings. ahead of the big call, the stock is up about .75% at the moment to $425 and ange,ge but willl cl elon melonk mon tal m m abo mututut tolotot,piloeot,pi api wai se whee than snnsta t to t reay vevep.ve t jtnghat tp b use u inust jus f mos, w a wre walal out aomouon vleehsicehitich h gmveion,rsio thehe cruz th catomth up i i iust i temi w to t totheorylo in t x bxsinxxnewsomro with m m m loserlorookt asla.a. gsings:eresla willil rel afteow uarter pn numn aeded recor r

0 veh vs v made ade e e aad oad ostim oates o aatndes deveriesveve 139,300 vehicles delivered in the third quarter. that, by the way, breaks their previous record of 112,000, their own record that they set back in 2019. now, here are the earnings per share numbers. they are expected to surge 53% fr, 57 cents on earnings per share, a 33% spike on revenue if they hit that estimate on the screen. we will see. the question now, can tesla meet its 2020 delivery target of 500,000 vehicles. also, the profit margins of the company, the stock one of the best performers this year, it's up 400% year to date. wedbush analyst dan ives just raised his price target to $500 from $475, saying he will be gauging the level of profitability in unit growth trajectory going into the fourth quarter and he also said tesla's improved manufacturing

efficiency and success with its giga factory in china is something he will pay close attention to. real quick, credit suisse noted battery day back in september did demonstrate the company is far ahead of others in the crucial field of batteries, in particular when it comes to keeping battery prices lower. real quick, i want to say they normally don't break out the vehicles specifically but we do know they sold 15,200 model sxs and 124,000 and change model 3y. that's a few things, we have more knowledge than we usually do going into tesla's report after the bell. liz: yeah. he hinted in a tweet about the seven-seater model y. i want fewer people in my car, not more. we will be hearing all of this. by the way, after the bell is going to have all of the earnings action, of course, including tesla. that starts at 4:00 p.m. eastern time. then you've got to stay tuned to "the claman countdown" tomorrow because we will have the aftermath and no doubt elon will make all kinds of comments on

his earnings call. we will bring that to you. tesla's cyber-truck, you saw that futuristic thing. it's not even on the road just yet and competitors are already exploding on to the scene. general motors, yes, have you seen this? it's unveiled its new hummer electric vehicle, set to hit the streets by 2023. the starting price of the first model, the edition one, wait for it, wait for it, $112,595. gm shares up nearly 1% right now but maybe that's not why it's up. the car making giant cruising its way into the auto industry's self-driving competition. we are about to take you inside that drag race when "the claman countdown" comes right back. not with that guy, who of course runs waymo, but with the guy who is going to be fighting for the competitor. closing bell ringing in 40 minutes. stay with us.

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liz: general motors' cruise, this is their attempt at really creating an autonomous vehicle company, taking a major leap towards re-inventing transportation with its cruise origin. this is an all-electric self-driving shared vehicle. just last week, cruise got the green light from the california department of motor vehicles to have its chevy volt test vehicles in of all places san francisco streets, up and down, all over the place. without a safety driver at the wheel. we bring in the man who is fighting for the number one spot in the self-driving race, cruise ceo dan ammann. dan, san francisco. you had to start with the most difficult? >> yeah, we started with the most difficult but really, we

are starting in the place where the transportation crisis that we have today is at its worst. it's where we see the most accidents, where we see the most congestion, where we see the most pollution is in our cities. so we need to bring a solution to that and we believe that solution is all electric, it's-self-driven and shared and that's the cruise origin. liz: you've gotten approval. can you tell me how it's going? what's the next step in the process? >> so we got approval last friday or end of last week for fully driverless testing on the streets of san francisco, so that's without any backup driver behind the wheel. we'll be starting that in the coming few months here, in the very very near future, and we'll be validating our system performance and continuing to expand from there and before too long, we will be taking steps to launch additional commercial service and building out from there. so we're really really excited about the progress and about the promise of self-driving and what it can do to make transportation

better in our cities and frankly, everywhere. liz: you've got a captive audience here of people who are either on board and ready to try this out, or need to be sold on it. talk to them. or drive us, if you will, through the process, when you are ready to hit the streets of san francisco, talk to your potential customers right now. >> so one of the things that we think is really important in what we're doing here is that we build trust in the technology, trust in our approach, our safety approach and so on as we go. so we are going to start small and build out from there, because we think when we deploy technology that's transformational as this one, we need to do it in a way that engages the community, builds trust and demonstrates that we're doing this in the safest possible way because that's the thing that will allow us to take this to larger and larger scale. we need to bring people along on our journey and we are going to be doing it in a very very safe and responsible way.

liz: safe and responsible means something different than what it did perhaps just 11 months ago. we are in the middle of a pandemic, of course. how do you plan to make sure that as you test this out, people who might not want to share a vehicle, by definition, this is going to be shared rides, how do you make sure that you will keep this safe? >> so one of the things we started really early on, as soon as covid became a household name, if you like, was to make sure that we were developing a product, an offering for folks that would make people comfortable to take shared rides. it's really important that we want to reduce congestion in our cities, we need to get people to share transportation, but to do it in a way that offers a great experience. so what we're doing with the cruise origin is we are building a version of that that creates a completely separate passenger space for folks inside the vehicle to share the ride. we have made adjustments to our ventilation systems so the air

is turned over rapidly inside the vehicle, there are cleaning particles between rides, masks for users. so we want to make sure people feel really comfortable sharing their ride. liz: before we go, tesla is reporting after the bell. elon musk announced that the beta version of its self-driving vehicle, driverless car, rolled out last night. the beta version. i went to arizona and sat in a driverless vehicle, although there was a safety driver, and this was for waymo, the company that was launched by google. talk to me about the competition. how are you going to come out as number one? >> well, the real competition is what's happening on our roads today. all the accidents and congestion and everything there. i think that's what all the companies working on self-driving are working towards. what i would say is that you are only really doing true self-driving when you can actually remove the human from behind the wheel of the car. that's obviously what we just

got permission to do on the streets of san francisco, and i think that's the real benchmark for a self-driving car. liz: the real benchmark is going to be going down the crookedest street in the world, lombard street. i want to go down that with you. dan, good luck. >> thank you. liz: dan ammann of cruise. we will be watching the developments. the future is now. digital real estate giant zillow crushing it over last year. up about 200%. now the powerhouse's founder is on the hunt for a new home in the market. his new spac, straight ahead. next tuesday, i will be part of the fox business all-star joining charles payne and the next america votes together virtual town hall. neil cavuto, jerry baker and i will talk about the major economic issues of the nation one week before election day. give us a shout. we would love to hear if you have a question or anything from

businesses reopening to investment. all you have to do is e-mail video of yourself asking a question to investedinyou@foxbusiness.com. could be featured on the broadcast. next tuesday, 2:00 p.m. eastern only on fox business. closing bell, 30 minutes away. yeah, we look at the dow, now it's back up 30 points. 36 points. climbing as we speak. we'll be right back. re-entering data that employees could enter themselves?

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liz: well, for the fourth straight week now, mortgage applications are on the decline which is weird, because mortgage rates are so low. but the number coming down about 2% for the week, and almost 7% from one month ago. but it is still up a staggering 26% year over year. this as one of the biggest names in the home buying industry started a brand new company for home buyers and now, he's going

company hunting. not going house hunting. spencer rascoff, co-founder of zillow and before that, hotwire. he's one of these serial entrepreneurs who hit it out of the ballpark. today he's hitting the markets with his brand new special acquisition company or spac called supernova, looking to take it, any company he finds appropriate via spac public. it's the faster track to take companies to the public market. well, the spac right now trading up about .7% under the ticker symbol spnv'u. joining us on "the claman countdown" is the man who has just given birth to this new spac. spencer, tell us exactly what you hope to accomplish with this spac. you are going to aim for a company, you have now got about $350 million to spend on one name. what are you looking for? >> yeah. it actually ends up being more than that. we will be targeting a company

worth between $1 billion and $5 billion because what happens with a spac is you issue new shares at the time of the merger and you frequently get what's called a pipe, a private investment in public equity so you raise more money at the time of the merger. so we are company hunting in the $1 billion to $5 billion range. the idea here is to find a great private company that would make a great public company and try to have them go public by merging with us and have me and my management team and my board of directors provide mentorship and counsel as player coaches to help them be more successful through the transition to being public, then the couple years after they're public. liz: yeah. and when you're hunting out these companies, you want, i would imagine, a company that is not exactly a fresh baby startup but something that does have its feet at least in the water at the moment. however, the best of the growth hasn't yet happened yet, correct? >> yeah. i think that's fair to say. zillow is a good example.

the one year before zillow went public, three or four years after, was a period of hyper growth which with the company public at about $500 million market cap and a couple years later is probably worth $5 billion or so. that's really a sweet spot to go public through a spac merger. in the case of zillow ipo, we priced at $20 a share and it traded up to 60. we left an enormous amount of money on the table. the average tech ipo trades up 43%, which on the one hand sounds really impressive. on the other hand, it's leaving a massive amount of money on the table. it's not a great way to go public. so a spac merger offers an alternative path, where a company can merge into an existing public company, get public very quickly, it's a couple weeks process instead of a couple year process, and get on with what comes next which is the growth phase. and also have better price discovery so not leave as much money on the table as they do in a traditional ipo process. that's why you keep hearing about spacs in the marketplace because it presents a really

good alternative for private companies to go public in this way. liz: i would absolutely think so. you don't have to deal with the road show insanity. adena friedman, ceo of nasdaq, was just on at the top of the show talking about it because 51 spacs went public on the nasdaq over just the recent quarter. as we look forward to what you are actually looking forks lo, at this number. only 34 spacs in 2019. this is a situation that's going by wildfire. you said you want to mentor the company and the leadership that once you focus and buy one. you taught at harvard recently and your class was called managing tech ventures. tell me what you actually taught here, spencer, because having been through it twice, two and a half times because you got picasso now, sort of re-inventing time sharing, listen, you are an expert. i'm guessing you are going with

housing once again. what is the biggest mistake that tech entrepreneurs and heads of startups make when they are starting out? >> sure. so the managing tech ventures course i created at harvard business school was designed to teach students how to design a tech company. something i have experience in. one of the most common mistakes is they overly focus on the competition instead of focusing on their persona so the consumers and the professionals that they aim to serve, they focus on competitors and that then creates a very uninspiring kind of uninteresting less fun and motivating place to work but it also results in worse outcomes. that's something i tend to see a lot. my new startup as you mentioned is trying to reinvent second home ownership. we are trying to create a way for people to buy a portion of a second home. why buy all of that vacation home if you are only going to use it eight weeks a year, 12 weeks a year. we pair you with other co-owners and it allows you to right-size

your ownership of that vacation home. i've got startups i'm working on and i'm also hunting for a larger company that can go public through my spac called supernova. got a lot of irons in the fire. having a lot of fun. you know, the common thread across this is teaching, coaching and mentoring executives either at the earlier stage or at the later stage. it's something i love to do. liz: i will take an eighth of a share of anything you have in malibu. i'm there. >> we have something we are trying to sell. we will talk, liz. i will follow up. liz: good luck with supernova. the new spac. spencer, great to see you. come back again, thank you. all right. paypal taking a dip into controversial waters with a whole new way to pay. could bitcoin pay off for

paypal? find out next. aed hhead of tomorrow's thi presidential debate, but second because the second was sort of like a face-off against town halls, we have our next edition of the presidential debate economic undercard. these have been so popular with you guys so we are doing it again on "the claman countdown." joining us to talk about all the economic and financial issues affecting our country, jeff greene, leo hindery, alan patricof, robert kiyosaki and acting chairman of the council of economic advisers, tyler goodspeed. you cannot miss this. your money matters. these people are right on the story. 3:00 p.m. eastern tomorrow on "the claman countdown." closing bell, 18 minutes away. now the dow is down 47 points. all over the place here. we'll be right back. ♪

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that's a-e-r-o-trainer.com. liz: breaking news. i told you this was a volatile session and it is. the dow jones industrials has just crossed the unchanged level 100 times. very choppy directionless trading right now, as we wait on hearing exactly what happens with the stimulus package and at the moment, we do have the dow down 75 points, but again, when you see 100 times crossing up and down the flat line there, that's an indication we have real markets that are on tinterhooks. let me talk about paypal. it's spiking after announcing it's launching into the cryptosphere. the online payments giant will now allow customers to buy, sell and hold cryptocurrencies in their paypal wallets. nice move. customers will also be able to

use bitcoin and its other digital competitors to shop with the 26 million retailers and merchants on paypal's network starting early next year. this could be the moment that bitcoin and virtual currency lovers have been waiting for. as you see paypal's jumping up about $11.80 to $213.74. billionaire bitcoin believer mike novogratz is calling this the biggest news of the year in crypto. he said that on twitter. let's see what bitcoin's doing. bitcoin is certainly relating to novogratz's call. the original crypto is trading up $764 right now, getting closer to $13,000. $12,723 per coin right now. as the securities and exchange commission's case investigating senator richard burr and whether he engaged in possible insider trading may be reaching a climax, burr is considering how

to close the case, according to charlie gasparino. what are you hearing now? charlie: you know, this is a big story and we reported this out yesterday a little bit about where the case sits. but now we have some new information about what might happen soon. sources are telling the fox business network, liz, that burr could settle the case to try to end the probe and that settlement could come down fairly soon. what we understand is that the s.e.c. is aggressively pursuing a case, and some of the information we gave you yesterday about insider trading on non-public pandemic related information that he was given privately before the pandemic hit the markets. he traded some stocks in mid-february. the problem is that the s.e.c. is having a hard time finding specific non-public information he traded on. there was a lot of stuff in the public realm back then and that's what his lawyers are arguing. but the s.e.c. continues to

investigate and from what we understand, burr would just like to put an end to it so he may settle it. what you try to do is settle on favorable terms. you reach a settlement with the s.e.c., maybe pay a marginal fine, but you do not admit -- you neither admit or deny wrongdoing. so he basically can skate on that. the other thing we understand is that the case that the doj is looking at, criminal case, where the bar for intent to prove insider trading is very high. that case is probably not going to happen. that's a very difficult case to bring, given the fact, given some of the murkiness of information about covid in february. if you remember, the markets started trading off in late february. we were reporting it at the time. burr sold stock in some companies in mid-february. however, as early as january, people were talking about how

bad the covid epidemic could be and how much it could wreak havoc on our economy. so that's part of the problem, that the s.e.c. is facing. how do you figure out that burr traded on specific non-public information that he may have been given during a senate briefing, when in fact it was a lot of talk about it. on the other hand, burr would like this thing to end and if he can get some favorable settlement terms, i think his lawyers may go for that. at least that's what's in the water right now. we understand they are considering it. there's no deal on the table. we should point out the s.e.c. hasn't announced through its enforcement division that it will bring charges. usually that's given in what's known as a wells notice. those charges would of course over insider trading but violations of the stock act, an act that prevents members of congress from trading on specific non-public information that they're giving in the course of their job. again, something we are going to keep an eye on. this is a pretty big story. we'll see what happens. back to you. liz: charlie, thank you very

much. "the claman countdown" comes right back. there is new word that quibi is throwing in the towel. we've got that breaking story in just a moment. stay tuned. 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.

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liz: short form video service. founded by jeffrey katzenberg, dreamworks animation and e bay, shutting down after six months in operation. despite raising $1.75 billion in capital and landings all kinds of top shelf advertisers from walmart to anheuser-busch, streaming startup, focused on five to 10 minute chapters high quality content for specifically smartphones has been facing mounting losses including strong competition and digital rivals like you tune, disappointing

viewership and download numbers as well as lawsuit for patent infringement filed by activist hedge fund elliot management. according to the journal, quick quibi looking for suitors, possibly comcast. check 10-year treasury yield, so this is an important move here we're seeing. we have it hitting above .8 of a percent earlier today. now it continues to climb. that is the highest in four months, which means fear coming out of the markets. we got another positive coming out of pandemic lockdowns. a rise, you heard about this, in pet adoptions and fostering. so what's the trade? let's bring in mark luschini, janney chief investment strategist, to take advantage of the pet boom, if you don't have a cat or dog, mark, you need to

have either, liz. alanco is the name of the company. symbol. elant was primarily in the health care business for livestock. it recently acquired a division of bayer that expanded operation in the pet health care industry. we know it's a booming industry not only here in the united states but globally. technically falling into the health care space. but as we know it is not necessarily one that might be in the cross-hairs of either democrats or republicans relative to drug price control. and i think it is going to benefit from the fact that today, obviously adoptions or acquisitions of pets are exploding and we treat our pets exceedingly well. so with the addition i think of the synergies they will achieve by way of acquisition as well as the growth opportunities, it, the chart looks particularly attractive i think it's a good growth opportunity for otherwise defensive space.

liz: mark, i got to get you this news, according to nancy pelosi who told fox business this in just, i'm seeing this as breaking news, 48 hours away from a possible stimulus deal. what does that mean, if it does come to fruition for the markets and for i guess sectors since specifically if we're talking about that way? >> yeah, liz, i think what it doesn't mean is something you mentioned earlier, we crossed back and forth break even 100 times in the course of a day. i think investors will either get excited about this in terms of the potential tailwind that will come from the massive stimulus program i'm sure they have agreed to as a consequence of this possibility, or, we're going to see a sell the news kind of situation in which perhaps more was even expected, ultimately than we'll get. so the devil ultimately will be in the details, but regardless global reflation story is intact, basic materials is a

sector that benefits from the uptick in overall business activity. in addition to that, it should benefit from a weaker dollar since the dominance of companies in that sector do most of their business in overseas markets. liz: yeah. when the white house tells fox business stimulus deal could be 48 hours away, people might feel more comfortable. here is the spdr tears, xlb, yes, xlb, looking at it right now, it may be down today but it has had a nice move to the upside. we're watching all of this, mark, great to see you. a friend of this network from day one. we really appreciate it. thanks for joining us. >> thank you, liz. liz: a bunch of breaking news coming after the bell. tesla earnings, whirlpool, chipotle, las vegas sands. you have got to stay tuned as we watch a mark sweat waiting for solid news whether we will get a stimulus relief package and how much. the white house says final-off,

1.9 trillion. nancy pelosi still at 2.2 trillion. [closing bell ring] in is the closing bell. s&p is down 7. dow down 91. time for "after the bell." connell: going negative there in the final moments of trade. really not a great close at all t was a choppy session overall throughout the day, lawmakers continue to try to hammer out the stimulus deal. we'll talk about that. i'm connell mcshane reporting from the state of minnesota. we welcome you in "after the bell." numbers on major averages it was a swing between gains and losses throughout the trading session. further in the red in the final hour and final moments of trade. a lot going eninn washington. mark meadows telling president trump is willing to lean in, get a relief deal done on covid-19. he says the current number where the whitehouse is