charles: absolutely. >> it's a big contrast. charles: liz, i got to leave it there. it is. i got to leave it there. always great talking to you. folks, make sure tomorrow, it's very important, you have to catch my town hall, america votes together. i got lou dobbs, gerry baker, neil cavuto and my good friend, liz claman. it will be an amazing show. see you tomorrow. here's liz. liz: i can't wait to be part of that. i think it comes at a crucial moment. speaking of crucial moments, we have a crucial hour, folks. the wall street fear gauge is rocketing higher at this hour. the market volatility index or vix, you can see it is spiking 19% at the moment, well above 32 as investors fear that second wave of coronavirus, some are even calling it the third, is here. record cases and perhaps more importantly, rising hospitalizations in the u.s. and around the world driving down markets as we speak.

commodities as well, as stimulus negotiations have gone nowhere, and the outcome of next tuesday's election still unclear. the dow having its worst day in more than four months. at its lows, a loss of 965 points. we are still down 750. we have the s&p down 74, the nasdaq bleeding about 225 points. wait until we show you the dow jones transports as well. it's not a pretty picture. we have our market mavens on high alert. we are filling the show with top voices and names to help you make it through this hour. ceos are also on high alert as well. the ceo of the toy giant that makes those uber-popular lol dolls is here on what he's seeing with early holiday spending, but also, what's behind his 11th hour decision to change his vote from joe biden to donald trump? mga entertainment's isaiah larian explains the one thing behind it in a fox business exclusive.

the hard numbers are in. the "wall street journal" has done some serious groundwork and now says the trump trade war with china and europe hurt american businesses and manufacturing. the founder of healthy snack bar giant kind is here on how he was able to expand into china, of all places, despite the tariff tiff. let us get you this breaking news right now. mark the clock. we have about 58 minutes to go before the closing bell rings. just one week ahead of the election, we have a pretty drastic selloff on our hands. triggered by a stunning rise in covid-19 cases. just this weekend, more than 83,000 new cases were reported on saturday and that was the second day in a row that new infections topped 80,000. over the last seven days, the cdc says 472,000 new cases were reported and as these cases swell, it appears that hopes for a stimulus deal are shrinking. but that's not the only thing facing investors this week. this is the busiest week for

third quarter earnings. we've got ten dow components and 175 s&p companies reporting, including all the ones on your screen. this is all we could fit, okay? chevron, apple, amazon, microsoft, alphabet, just to let you know, 84% of s&p companies that have reported so far have beaten earnings estimates. that's a good sign. let's bring in our floor show traders. scott redler and phil flynn. scott, lay it out for investors. you have the rising covid cases and again, we want to stress, rising hospitalizations as well. dwindling stimulus hopes. the election and tech hearings on wednesday. all of this on the horizon. we can put these up on the screen. if we are going simply by today, we know it's covid driving the action but does the pandemic maintain its hold on the markets and on investors' psyche for the rest of the week? >> well, you just named pretty much a perfect storm.

if you remember, i heard you mention before the vix, you said two, three weeks ago what can investors do in order to have some insurance just in case a storm hits and that was buy vix call spreads for the election and for december. hopefully some investors did that. but for this week, i think all eyes like you said are on big tech earnings, right. you have the biggest ones out there, amazon coming up, facebook, apple, microsoft. i think amazon and apple are going to be very important. they are both on thursday. we will see whether or not that can change sentiment. right now they have been selling good news on earnings and really pounding bad news. so the glass is half empty right now in terms of the stock market because of rising covid, no stimulus, maybe an election that goes contested. so we need the tide to turn. right now we broke 3420 in the s&p. all eyes are on the 50-day so we need to see right now if we can reclaim that today. if not, we could see another 2% to 3% lower even before we get

to those important earnings on thursday which again, i think amazon, apple are the keys. liz: i want to again check the dow, down 760 points. phil flynn, i'm looking at some of the new lows for this session. gilead, you've got frontline, scorpion tankers, a whole bunch of other names, not to mention, yeah, biogen. some of these look like individual oil names or oil related names, then of course, we do have the pharmaceuticals. oil is tanking at the moment because, of course, when you start to see these cases spike, people are going to hunker down once again, are they not? what do you see as the driver not just today but the rest of the week? >> i think so. actually, after listening to all of this, i feel like i listened to a joe biden speech. all the doom and gloom, all in like five minutes, right? it's all hitting at one time. you know, the one thing i will caution everybody, things always

look worse on monday than they do 24 hours later. i'm seeing a lot of fear, you know, maybe overtaking a lot of reality. you look at all the material names that are getting beat up, oil prices really getting beat up. oil is getting a double whammy. not only are they getting hit because of concerns about demand disruption, they are also getting hit on the supply side. reports over the weekend that libya will be producing maybe a million barrels of oil a day. i always caution, monday morning, there are a lot of fears out there, the election, all these uncertainties, and people are running for cover. but i think some of these good earnings could really turn the corner, so i would be looking for opportunities on this sell-off. i think there will be great buys. i like buying the vix calls. great call. that was the way to do it. >> thank you. liz: i don't know if we can pull up, let's just say for all intents and purposes, guys, amc

entertainment. ticker symbol amc. yes, right now, it is tanking by about 7.2% to just $2.76 because they are the largest movie theater company and right now, with the spike in cases, people are backing away or at least the psyche, the possibility is that they will stop at least showing up to this finally reopening business. but the low of the year was $1.95. we're not quite there yet. you could do that for any of those movie theater companies, or even some of the other names when it comes to transports. could we show the transports, too? i know we are throwing a lot but we are calling audibles because we have quite a sell-off at the moment. a lot of this breaking news. scott redler, does that not then speak to the point that we are still not back to the march lows and are investors smart to jump in just as phil said, take this as an opportunity to buy some now discounted names, or are they waiting until we get even somewhat close to back to the

march lows or is that in the rear view mirror forever? >> we are so far away from the march lows that we revisit those, i think people will be jumping out of their windows. at this point, all stocks -- liz: god forbid. >> when is the next time you are going to a movie, liz? i'm not going to a movie theater. netflix, who is supposed to be a beneficiary of this new trend, had a great year but it sold off, its numbers aren't going up. i think a lot of people are just taking a step back here. i would think maybe post-election, if we do have a president thereafter, i think the market will take a deep breath and say okay, maybe now let's see where we are. but as far as the march lows, i don't think anyone is talking about that. talking about the s&p, that's quite a ways down. most people are saying if we do correct a bit, maybe we see 3200 in the s&p. for investors, just keep putting the monthly flows into s&p funds. don't try to take amc, don't go after the cruise lines, don't go

after some of these stocks that might be bankruptcies at some point because they will never come back. liz: okay. phil, why is a name like walmart or costco going down right now? i would think that if you're looking for an opportunity to see what part of my portfolio is working right now, wouldn't it be that if people are going to continue to stock up and to prep? remember the old word, prepper? >> exactly. that's when you see that fear index go up like it did, you know, common sense goes out the window. you are absolutely right. walmart should be soaring if we go into a second or third wave or whatever, you know. you talk about amc, they were just reopening, getting people in the theater. i think the gauge on that stock is how many shares of stocks can you buy versus the popcorn. right now, probably, what, 10, 12 shares for one box of popcorn at the theater? i don't know. anyway. but obviously, the second wave fears will cause doubt. amc, you might want to stay away

from until we get a better handle on it. but really, we are throwing a lot of good stocks away today because of the overall fear. when that happens, that's when it's going to be good opportunities. walmart is one of them. liz: got it. >> i agree. liz: scott, phil, always a pleasure. thank you so much. check the dow, down 784. the russell 2000, low of the session down more than 50 points. so even the small caps are getting swept up in all of this. as coronavirus cases crest again, look at the cruise lines, guys. they are getting absolutely crushed. the top sector names sinking to the bottom of the s&p 500. here they are. royal caribbean down 10%. norwegian down 8.9%. carnival down 8.7%. flip it over to the airlines. this as tsa notes suddenly diminishing numbers of travelers at airports in just the last week. so american, delta, united, southwest, jetblue, spirit down

6% to 8%. not a pretty picture. i guess the best-looking one on a tough block is southwest, down 5%. we did want to point this out. we got a bit of a head scratcher at this hour on this name. restaurant chain muscle maker is showing some serious muscle. besides surging at this hour 31.7%, trading volume in the stock is actually multiple times more than the daily average. we are working on this story. we did want to get it to you. but we will get you any update as soon as we get more clarity as to why muscle maker, ticker symbol gril, is moving so high. dunkin running higher. chatter at this hour is that dunkin might be in early talks to go private, in an acquisition by inspire brands. who is that? well, their portfolio includes arby's and buffalo wild wings. the parent of dunkin donuts and baskin robbins jumping 15%.

it was already up 35% year to date. it now tops $102. new numbers out show that the trump trade war has actually not been kind to american businesses. we will talk to the founder and executive chairman of healthy snack company kind about how his business has fared over the last four years and whether he thinks now is a time for change at the white house. and later, the toy magnate who says one issue has him changing his vote from joe biden to donald trump. mga entertainment's isaac larian tells us why, coming up. we'll be right back. gives us confidence... ...so we can spend a bit today, knowing we're prepared for tomorrow. wow, do you think you overdid it maybe? overdid what?

well planned, well invested, well protected. voya. be confident to and through retirement.

liz: want to show you u.s. steel. at the moment it's down about 4% but if you look at a one-year chart, and under the best of circumstances, we could look at maybe a three-year chart encompassing the trade war, one-year chart we are down 15% for u.s. steel. today, it is a $9.56 stock.

it was $14 over the past year. so at the moment, we are looking at tough times for a company that was expected to do much better under president trump, who imposed all kinds of tariffs not just on china, but also for a time, korea, europe, mexico and canada, although we now have the usmca deal between mexico and canada. president trump has said that the tariffs were helping u.s. manufacturing. after doing a deep evaluation of the impact of the china tariffs on the u.s., the "wall street journal" did not hold back with this headline. china trade war did not boost u.s. manufacturing might. the story also focuses on how the trump tariffs backfired on u.s. companies, as china slapped retaliatory tariffs on american products. kind healthy snacks launched in new york city, it makes all natural snack bars, the company sells in more than 30 countries including china. born and raised in mexico city,

now long-time american citizen daniel lebeski is founder and executive chairman of kind and has had a front row seat during the trade war. he joins us live. your story is pretty interesting because you export to china, you import your product, at least the nuts and maybe the honey and some of the other commodities, from many different countries. what has been your assessment of how your company's been affected by the trade war? >> liz, it's nice to see you. hope you're well. liz: thank you. >> we make 100% of our product in the united states that we sell in the united states and we export from the united states to a ton of countries, but it is true that we are starting to start factories now in other parts of the world. currently, much of our production in china, much of our sales in china still come from the united states. we are very proud that we are generating a lot of jobs across

america in six different states and exporting to 32 countries. we are very small for us to be leading stories about tensions with china. what i can tell is more broad based on my understanding of what's going on. tariffs in general are bad for all economies. the consumers get hurt because it's us that are paying for the extra tariffs. it's not china that pays for it. it's us when we receive the product to pay for them. in general i'm a big free marketer and i believe there should be the ability for all countries to compete fairly. china does not compete fairly so i actually respect a lot of the postures that trump took as far as china but unfortunately, i don't think that the results were what we wanted. liz: yeah. but you know, can you blame him for at least attempting to do this? the time to do it was really when the economy was good.

that's exactly what he did. yet we are not seeing, at least according to the "wall street journal," who did a very deep dive into this and saw that the manufacturing base here in the united states has not really changed in a major way because of this trade war. so therefore, you as somebody -- you did something interesting, you actually during the trade war opened your operations to export to china. you have a different perspective having been on the ground there and seeing that, as you say, tariffs really don't help at least domestic manufacturers. can you clarify that a little bit for our viewers? >> my general take is we need to have consistent policies that are not changing by the day. i think that's where the trump administration's made many, many mistakes, where one day this thing, the next day he wakes up and tweets something else. it is impossible to plan that way for small businesses, it's very hard to plan for large

business businesses, for countries it's very hard to plan that way. i think we need to have consistency. i do applaud any government that tries to stand up to ensure fair treatment for all american goods but you have to have a consistent approach. you have to know your word is going to be honored and not take back your word and change your plan. it's not like a television show negotiation. it has to be something that people know when you say something, your word is going to be good for it. i think there's a lot of gaps in that. i'm a very proud independent but since you are asking these questions, i can tell you i did agree to join the small business advisory task force with joe biden because i do believe that we are going to be able to plan better, we are going to be able to have consistent policies and frankly, just from a personal standpoint, i'm exhausted about the division and i like that joe biden is a moderate, that his entire career, he's been a bridge builder and i'm very much looking forward to not have to talk about the presidency every

single day and not have to be polarized left, center, right and have all of us work together to reunite our country. liz: i understand that. that has been some of the complaint on behalf of first time around trump voters. but i did want to ask because you as a childemigrated from mexico and have been a citizen for many, many years, can you tell me how much you, an immigrant, how many jobs have you created here in the united states? >> several thousands of jobs and i'm very very proud. i think you and i have talked before, liz, i'm most grateful to our country. my father was liberated by american soldiers that risked their life to rescue him from the holocaust, then settled in mexico and built a very successful business on the border between mexico and the united states and when my family immigrated, i was welcomed.

i don't think there's a better country than the united states with more opportunities. as you know, i'm a current guest on "shark tank" and the amount of innovation and creativity that we see, the entrepreneurial spirit we see from people is incredible. i'm very proud that i started my company with $10,000, worked really really hard, and we now have over $1 billion in revenue, we export to 32 plus countries and we employ several thousand americans. liz: daniel, you are always welcome on this show and you are among the best that america has. we really appreciate you coming. thank you very much. daniel lubetzky of kind. they have a brand new protein bar. who hasn't eaten kind? this is the number one bar now. he started with very little and grew it to that. so he's on joe biden's side. up next, joe biden's tax plan is

scaring off one billionaire businessman who is vowing to change his vote in this 11th hour and move to a different state if joe biden becomes president. the mga entertainment ceo isaac larian goes inside the numbers that scared him away from the biden/harris ticket. the closing bell ringing in 36 minutes. "the claman countdown" is coming right back. robinhood believes now is the time to do money.

without the commission fees. so, you can start investing today wherever you are - even hanging with your dog. so, what are you waiting for? download now and get your first stock on us. robinhood. omnipod delivers insulin through a discreet waterproof pod... to help simplify life. no more daily injections. it's game-changing. take your insulin anywhere with a small tubeless pod. and the wireless controller helps deliver the right amount of insulin. get started with a free 30-day omnipod dash trial today. go to omnipod.com for risk information, instructions for use and free trial terms and conditions. consult your healthcare provider before starting on omnipod. simplify diabetes. simplify life. omnipod.

liz: breaking news. hasbro stock left on the discount toy shelves at this hour. it is dropping 9% or $8.35 to $83.65. this after posting strong third quarter numbers. shares of the monopoly maker are suffering on the possibility that newly spiking covid cases will result in lost jobs and

less holiday spending money as americans sock away savings for, among other things, health care emergency money. but it's sort of a case of covid giveth and taketh away. lockdown was great for hasbro. lot of people bought toys as they were stuck there. isaac larian is the ceo of hasbro competitor, mga entertainment, the maker of lol dolls and little tykes. he has one eye on the new virus wave and the other on next tuesday's election. we welcome isaac right now. a self-made billionaire who up until recently, you were on team biden, right? you are now switching your vote to president trump? why? >> well, tongue in cheek, but before i do that, i want to show you the new liz claman redhead do doll. this is the number two bestselling fashion doll already came out in the market about three, four weeks ago. i will send you one of these. it's redhead like you.

liz: redheads rule the world, right? okay. we shall see. thank you. i love that. all right. the headline that you saw about taxes potentially rising for you, a california resident, and very wealthy man, self-made, that kind of scared you off. tell us exactly what you saw. >> you know, again, i think it's more california than national, but california has become the most expensive state to operate in and you see that all over the place. they keep on raising taxes, raising taxes and if mr. biden becomes president, the net tax in california is going to become 62.8%. so i'm an entrepreneur. i work really for creativity,

for jobs, and i'm an immigrant. i came here in 1971 and since 1971 until now, i can estimate that we have created over 200,000 jobs. but i am saying to myself what incentive do i have to work as hard as i did before? and just look at what happened in france. 72, 74, 75% taxes, what's happening to their economy? did they improve? i don't think so. so i think -- liz: certainly not for france. they have got a whole host of problems. but you know, in that headline, that number, the 62% plus number for california, that was the worst case scenario for california, that's combined state, local, statutory tax rate. did you also see from the tax foundation in that same article, that rate does not include credits, deductions, loopholes,

offsets and lower tax rates on other sources of income and even the tax foundation admitted, and we took this line out so that people could see it, quote, only a small percentage of taxpayers will see any of their income exposed to these combined top marginal rates, and effective rates are lower than marginal rates which are the rates imposed on the last dollar of taxpayer income. so do you look at it in that regard and say well, you know what, when corporate tax rates were at 35%, corporations weren't even paying that anyway. they were more at like 22%. >> well, i can tell you, i'm proud to say that i personally have paid more taxes and i would bring my tax records open so everybody could see it, have paid more taxes in 47 years that i have been in this country than every president of the united states from washington, george washington all the way to mr.

trump. so i don't mind paying taxes. but all of them combined. but i don't mind paying taxes, but what i mind is waste. what i mind is that they use this money and they -- for example, california bought $300 million -- they didn't buy, they really got scammed to get $300 million ppe from china and they didn't get that merchandise. i say to myself -- liz: it's a problem, certainly. >> who was overseeing that? these are our tax dollars. did they ever get that money back? i have no idea. there's no accountability. this is what i'm concerned about more. i'm not concerned about paying taxes. i will pay, i make money here, i live in this country, this country has been incredible to me and i will pay taxes. but i want to have

accountability and i don't think the accountability is there. that's my concept. liz: isaac larian, mga entertainment, another one of america's best. you and daniel lubetzky on the same show, i'm thrilled. we do fair and balanced here. wonderful to see you. don't move from california. >> i will send you the doll. thank you. liz: i love it. although the tint's a little dramatic there. it's more i love lucy. isaac, good to see you. tomorrow, i will be part of the fox business all-stars joining charles payne, town hall america votes together. please join us. we are going to answer your questions. dow jones industrials down 704. we'll be right back. 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. this was the theater i came to quite often. ♪ the support we've had over the last few months has been amazing. i have a soft spot for local places. it's not just a work environment. everyone here is family. gonna go ahead and support him, get my hair cut, leave a big tip. if we focus on our local communities, we can find a way to get through this together. thank you. ♪ if you are ready to open your heart and your home, check us out. get out and about and support our local community. we thought for sure that we were done. and this town said: not today. ♪

liz: i just wanted to let you know we have just decided in

this late part of the session to go commercial-free due to the market sell-off because it is rather broad-based at the moment. the dow jones industrials down 725 points or a loss of about 2.5%. but it is pretty much across the board here. if you look at the nasdaq and the s&p as well, russell 2000 down 38 points. it's quite agnostic. everybody is getting hit at the moment. there are very few names that are able to struggle beyond the red here. let us show you specifically it is the dow transports that are being led lower. remember, in the transports are a whole bunch of names. we have already talked about the airlines, we talked about railroads in the past, but it is right now car rental company avis dropping precipitously, bringing down the dow transports more than they already were down. we've got avis down 9.7%, just a few days ahead of its third quarter earnings release on october 29th.

let's bring in our traders. tom hayes and scott bauer. tom, what are we missing here, if you are at 30,000 feet or 30 feet, hovering above this market right now, with about 21 minutes left to trade, tom, right now, what specifically is catching your eye that investors are missing? >> well, liz, it's back to the future all over again. in 2016, the s&p sold off for seven consecutive days into the election and it made all of it back within two sessions after the election. markets don't like uncertainty and as phil was saying at the top of the show, this is a great opportunity to look for high quality stocks that maybe you missed in weakness in september, or back in april because as we look through here, on a global basis, the imf is looking at negative 4.4% gdp, which is 3.6 trillion problem, but globally, we have done $12 trillion of fiscal stimulus, 7.5 trillion of monetary liquidity so we have solved a $3.6 trillion problem

with $20 trillion of solution. this is an opportunity in the next few days in this uncertain period when people are looking at the eu case spike, the corporate tax rate potentially increasing, the market's nervous about that, s.a.p. guiding down on their revenues in the past 24 hours and the vaccine and stimulus timing. use this as an opportunity for the high quality names that have been left behind as you look out over the next 12 to 18 months. liz: well, like what, tom? can you give us some of your favorites at the moment, or at least what you're seeing to jump into right now on the floor? >> what i'm looking for is those sectors that are going to grow earnings in 2021, at least as fast as the s&p if not faster. if we look at the sectors that are going to outperform off low bases are industrials, materials and financials, whereas income tech and the hot stocks of this year are actually going to grow

at earnings growth at half the pace of the s&p 500. i want to start to get exposure in industrials, in financials, so bellwether names, raytheon technologies, boeing, ge, these are all going to be plays on the vaccine and the recovery of travel, the recovery of the airline industry, and then on financials, just your big three, jpmorgan, bank of america, wells fargo, really looking out over the next 12 to 18 months, because they are very overreserved. liz: scott, i have one eye on treasuries, as always, and i'm looking right now at the ten-year. it is exactly where it was when i looked at it at 7:00 a.m. .80. it has not moved even as we have seen this precipitous drop in the dow, the nasdaq, the s&p. we are off our lows of the session, but as you look at the ten-year, why are we not seeing that traditional flight to quality? maybe people just don't scare as easily anymore. >> there's no question about that. that is part of the psychology

of trading in the market, and of these sell-offs, they happen and people get spooked out, then they happen again and it's less likely. that's the same reason we are seeing vix elevated today but we are not seeing a spike like what we have seen in the past, when we have seen the market sell off 2%, 3%, 4%. so i also believe the treasury's got a little ahead -- or the yield got a little ahead of themselves over the last couple of weeks. i think much to your point, we are not seeing a change from six hours ago, seven hours ago, because of the psychology of the market. one thing i would really like to point out about the trade today, like you said, it's very broad-based selling. however, the small cap space, the russell, the iwf, particularly, they are getting hit. that space had actually accelerated a little bit quicker than the s&p and the nasdaq space, and we are seeing it a little more today. when i look at some of the activity, some of the volume, the put call activity, heavily,

heavily weighted to the put side in the russell, in the iwf, where as i look at the nasdaq space, look at the spx, not so much. it's almost split call and put activity. but very heavily weighted on the put side for the iwf. liz: all right. gentlemen, and again, scott, when you're looking at some of the nasdaq losers, it is broad-based. you have ulta beauty, a makeup chain, you've got hasbro, workday, then of course, the airlines. so i mean, to me, it almost seems like people are backing away or just holding tight. what is the best rate of play that you recommend with 16 minutes left to trade here, and the dow down 728? >> if you felt comfortable about your holdings this past friday, you should have the same comfort level right now. you should have the same feeling right now. just because the market is down 2% today, whether it is because of election uncertainty, the

news out of s.a.p., whatever it is, that really shouldn't change your mindset. you could always be mindful, you can always be protective, but the landscape has not changed. if we go through our big earnings season, especially later this week, with all the big guys reporting, and if those start to show weakness, that would be a different, you know, a different outlook from me. right now, i wouldn't change a thing. liz: s.a.p., by the way, my bad, i haven't even mentioned it this hour because there has been so much breaking news. s.a.p. is the big german software giant. it is getting crushed at the moment. it's down i want to say, it's a moving target, but down 23%, this is a big cloud play, and the barrier to entry apparently isn't that difficult, because there are a lot of cloud players who are doing incredibly well during covid. so the fact that s.a.p. whiffed is certainly a problem. i want to see where they are for the range today. range for the low was $113.23.

high of the session, $118. we are at $114.90 at the moment, down 23%. guys, great to see you. i want to quickly move over to boeing and raytheon, defense here. u.s. defense contractors we need to tell you about. lockheed martin, boeing and raytheon are getting hit at this hour after china announced it will place sanctions on these three contractors in retaliation for a $1.8 billion proposed weapons sale to taiwan. you know the chinese hate taiwan. they want to own taiwan. they want to swallow taiwan. so in the past, u.s. hasn't exactly sold to taiwan but now there are relations because taiwan is a democracy, why not. so lockheed martin down 1.8%. boeing down 4.3%. raytheon down 2.9%. this is the latest spat between the u.s. and china, as the u.s. looks to strengthen ties with taiwan.

now, as of now, the sanctions would not be too severe as u.s. defense companies are limited in their military sales to china anyway. so there. we gave you the whole story. maybe they are getting swamped by all this is happening. want to remind you we are going commercial-free until the end of the session because of course, we do have this sell-off. check the dow, down 762 at the moment. s&p lower by 77. it is a big week for apollo management founder leon black as he faces mounting criticism over his ties to jeffrey epstein, who of course had been thrown in prison for all kinds of child harassment, fraud, et cetera, but people close to the private equity giant believe he will be able to redeem himself if he prepares for thursday's earnings call. to charlie gasparino, who has been working on this story for the past week, and certainly has more details, i understand? charlie: yes. you know, thursday is an interesting week -- thursday is an interesting day.

this whole week is interesting for earnings. we are going to get a bunch of earnings reports on thursday, on tech. i believe apple, amazon, i could be wrong, but you know the names. thursday is going to be a huge day for the markets. we are also going to get apollo earnings on thursday. that's not -- that's not going to be significant for market reasons but for what it means for leon black, the founder of the giant private equity firm, who had a side business relationship with jeffrey epstein. jeffrey epstein, we should point out, is best known now as a child abuser, rapist, but for years, he was known as a wealth manager for acoterie of really rich people. leon black had a relationship with him until pretty recently, i believe 2018. that relationship based on some reporting by news outlets including the "new york times" is coming under a fresh scrutiny. clients are in an uproar, the

clients of apollo, essentially forcing apollo to do an internal investigation that lays out black's total relationship with epstein. again, it was a relationship between black and epstein, not epstein and apollo and black. apollo wasn't involved. be that as it may, thursday is going to be an interesting day. leon black is usually on the earnings call. he's expected to be on this earnings call on thursday. here's what we hear from people close to mr. black, what might happen. he's expected to read some sort of statement. won't be that long. then he's expected not to take questions about epstein. that's at least as of now. now, obviously if things heat up more, you never know, he may not go on the call. it might be too much distraction. just leave it to his partners including his top partners. i don't think that will happen. i think mr. black will be on the call. i think he will make the

statement, and here's what we got from a spokeswoman for leon black. she reiterated, she said that leon had been accused of no wrongdoing, very true, and he fully expects the independent review that's from an outside law firm, which black asked to be initiated, that is true, he asked for the board to vote on that and pick a firm. they picked deckert, will validate everything he previously said. so -- and what he previously said was this, that he maintained his side relationship with epstein and hadn't spoken to him in at least two years, and had no idea about his sordid -- the extent of his sordid personal life. obviously what is somewhat concerning for clients is that he had some idea, he obviously knew mr. epstein went to jail, and he still did business with him after mr. epstein went to jail. so this is coming to a head. i can tell you that a lot of executives i speak to say it's

going to be very hard for mr. black to sort of rationalize this with clients going forward. the one positive thing you have, apollo is a public company. if you're in the stock, it's hard for clients just to pull out immediately. there are lockup periods. it's not going to have a damaging impact immediately. the real problem comes for apollo which is a very aggressive fund. if the economy goes south it will probably want to start a new fund. will they be able to get new clients going forward to those funds with the specter of their founder, leon black's dealings with epstein hanging over them. so that's a whole other story. that's where we are right now. so thursday, liz, big day for earnings across the board and for apollo earnings, not because it's a market indicator, but because of this epstein issue that hasn't gone away with its founder, leon black.

back to you. liz: charlie, thank you very much. charlie gasparino. all right. check the clock. as we do when we get very close to the closing bell, we now have about eight and a half, nine minutes to go before that final hour. we have taken a slight dip lower. we are not at the lows of the session, though. dow right now, check it, 763 points to the downside. s&p lower by 78. the nasdaq down two full percentage points, down 237. energy stocks, we talked about oil. seeing some of the largest sell-offs in the markets in this final couple minutes before we hear the bell ring. marathon, occidental petroleum, ha halli burton should be on this list, in a deep nose dive. to cheryl casone in the fox business newsroom with that specific look through that prism because if we start to see heightened numbers of hospitalizations from covid, which is what we are seeing in certain states from texas to wisconsin, you know people aren't going to get in their

cars and be driving around that much. cheryl: obviously, that's the demand side. first, i do want to start with the breaking news that's coming from the gulf coast. we have just gotten word in the last hour that u.s. gulf offshore crude oil production is going to be shut down by 16% going into the expected landfall of storm zeta expected to be a hurricane when it hits louisiana. energy companies also turned off about 6% of natural gas output in preparation for this storm. zeta is expected to strike louisiana, possibly alabama, and overall the gulf coast on wednesday. they are getting ready for that. you mentioned this a couple moments ago. shares in energy companies taking a big dive today. crude down substantially, along with the broader market sell-off we see. there's crude right now down more than 3.25%. worries like you just mentioned about new covid cases globally. that would be a demand destruction story around the world for crude, not just from wti, but for brent. now, the spdr energy etf slumped

almost 4% today and as you mentioned, apachi down almost 4%. that's the biggest decliner. marathon oil, occidental petroleum, exxonmobil, ha haliburton, schlumberger getting hit. lot of red across the board. phillips as well. crude hitting a three-month low today, by the way. so again, preparing for yet another hurricane to strike the gulf coast. back to you. liz: those poor folks down there on the louisiana coast. they just can't catch a break. thank you, cheryl. the number three. three percentage points down for three big tech names. google, twitter and facebook. now, less than 48 hours from now, the ceos of those three compani companies, joining is a really pleasant word. they will be sitting before a senate committee specifically to

answer questions, this is a senate commerce committee, to answer some issues about the immunities provided by the so-called section 230 of the communications decency act. in other words, what does this mean? it means that they are having their feet held to the fire by the government for all kinds of issues that may really come to hurt their stocks. the next guest that we have says guess what? you got to have tech, but look elsewhere to have it in your portfolio. vance howard, howard capital management ceo and portfolio manager, he's got about $2.8 billion in assets under management, joins us now. vance, you would say for now stay away from those three names and go toward which names? >> well, i think when you are starting to look at tech, you really and truly, even though tech is having a sell-off today, i don't think you need to completely run away from tech. there's a lot of terrific etfs out there like mgk or qqq that concentrate in tech but have a little bit of additional diversification but they have been performing very very well

for us. so to completely run away from tech, i don't really think is the answer. there are other alternatives out there to make money in this market and again, our proprietary indicator is positive so even though we are having some volatility today, we are still in an uptrend and any . liz: sampson, microsoft, looking at those names, they have performed absolutely

you believe amazon and microsoft . days involve seeing s&p fall 64 points. i point out to you the low of the session, we did have the s&p down 100 points. so we are well off the lows of the session. check it, we have the nasdaq at its lows down 327 points, and the nasdaq quick check here. down 190. so yes, tom hayes is exactly correct. we're coming off off the low.

some fears coming out of the market. we're seeing volatility index begin to lower on a day where the truth is we're seeing yet another crest in coronavirus cases. [closing bell rings] much more to be heard from and said, "after the bell" is next. thanks for joining "claman countdown." i will see you tomorrow. connell: lockdown fears slamming into wall street on this monday. stocks are plunging throughout the day. virus cases rising around the country. also spiking in europe. i'm connell mcshane. welcome to "after the bell." we check in on the numbers, with the dow, first of all down more than 950 points at the low of the day. we have comb well off the lows. about 300 points off the low. closing down by 650 points. there is a lot going on here. election uncertainty, not just the presidential race and some of the senate races and lack of stimulus action out of