you should scrappy thanksgiving travel plans, the senator who just tested positive for covid takes a stand, what does all of this mean for travel and tourism in the industry, april 11 ceo known internationally for its famed tours, equally is here on how he plans to deal with this latest blow, market is wrapping up the reek with one glittering start in particular, wait until you see what bitcoin is doing we have the dow down 135 and the s&p, the nasdaq punted in the green of 12 points, breaking news, president trump just announced two actions to lower drug prices, here's the first, he will require drug companies to pass discounts on to

patients, not middlemen, those are called rebates, the middleman are called the pharmacy benefit managers, they are used to help the drug companies manage the situation and act as a middleman, he wants those rebates to be passed on to medicare and met him, the price drugs are the favored nations club and the prices that americans would pay would pass the lowest price paid by developed countries, these are first world countries, same as us, why are they painless, the president says no longer we should pay the same, the president said these will save millions of dollars to blake burman who joined us now, he did not take questions. >> no questions, this fits in with what we seen from the president since losing the election in the last couple weeks, the president i don't believe is taking questions from

the media since then, the announcement from coming inside the white house at the briefing with the president announcing the two actions that you went through, the president was talking a lot or at least in points about pharma and big pharma and where he believes they stand, the pharmaceutical industry believes getting out and eliminating the rebates in the middlemen is going to be a good thing for part d of medicare beneficiary. they believe that is a good thing, what they take issue is the other role most favored nation, nations as you spell a walk-through with big pharma, it does not agree with and it's something they have been pushing back on for a while. one thing that president trump suggested during this, he did so on a couple of different occasions, i want to listen here, related to the covid-19 vaccine candidates that we have seen come online in the recent days or about to come online. the president suggested, because

of the most favored nations role in lowering drug prices that he's been working on, the president believes that the vaccine was withheld until after the election because of it. listen though this. >> pfizer and others decided not to assess the results of their vaccine, and other words not come out with the vaccine until just after the election, that's because what i did with nations and other elements. >> there is no evidence that the drug companies withheld these vaccines in the information in the results until after the election to harm or potentially harm president trump but it's something he reiterated on several occasions this afternoon from the briefing room. liz: thank you very much, what you see on the screen is the vaccine makers, if you look at the big pharmaceutical names, they are actually doing pretty well in the ats that covered them are mostly green, what is

going on here, we welcome an analyst who says this plan that the president announced is doa dead on arrival, healthcare policy analyst along with her trader scott bauer, what is going on, you are looking at the legal ramifications and you say there's been a misstep, couple of months ago from on behalf of the administration that will make with the president just announced nolan boyd. >> the administration had four years to get this implemented if they wanted to advance drug pricing and what you're seeing is trying to rush it through, they made an announcement back in july in 2019 saying it had been withdrawn and posted on a government website saying it all been withdrawn, with the ministry to procedures, they are claiming they publicly said it was withdrawn technically they did not post in the federal register, why the general public may have thought this was over and they are not moving forward

secretly they said they were still going to move forward with it and that's with the trying to move forward with today, i very much doubt that we will see this thing become implicated in the rebate role side. liz: on the rebate side, we can put up the pbm's, the pharmacy benefit managers, this is like united health group which has optimum, they have cvs caremark and cigna is one of them, they are not even get that engine hit that hard, if you look at the other things, the favored nati nation. i am with the president on this, why is america paid more when other countries from canada to european in my repaint so much more, my elderly parents, people like that, it seems like this is been a long time coming and really needs to happen, how will the stand up? >> when i was a policymaker working at the chief of staff on

capitol hill or deputy assistant secretary at hhs my job is to make moral judgments and implement policy that advanced and agenda. my job now is to look at whatever the policy is and what the market impact could be, i think there is no question that the u.s. pays more than other nations do for pharmaceutical prices and as part of pain from where they are contribute more to the innovation and development with the most favored nation, i'm still looking for the text debate, it appears the next step based on the another area of what the government website was approved and they need to go to a final rule stage before it would be implemented. i also think while getting to a goal and attempting to make sure prices are more fair is a goal in the minds of many. i think whether hhs has the legal authority to do that is an open question and i expect the pharmaceutical industry to sue, when they do they will probably be successful.

liz: here's another problem, we saw our trader scott bauer as we look at the investment standpoint, do you get the sense that these names might be really in trouble or they always seem to escape through, do they not whether before obamacare, during obamacare, after obamacare? >> are you talking to me liz? liz: scott. >> i think there is definitely question here, there is question whether this happens, i question if it's abide in the administration or if this falls off the table. do they always go through, like you were just discussing. there's no question about it. if i'm looking at a couple of individual stocks, pharma stock, i would not go out on a limb and say this proposal right now is necessarily going to help anyone stock in particular, i would

look to a johnson & johnson, maybe bristol-myers they're not the sexy stocks but they are the old stomping ground stocks that should do well regardless of what happened with the spear the reason i like bristol-myers especially, there forward pe is trading at 8 - 1 and ever since their addition last year, i think there's a lot of upside. there is a redline to this no question. liz: medicare which covers elderly and those with disabilities, medicare has never been able to negotiate directly with the big pharma names here in the united states that have been prohibited from that and therefore we looked at pricing all over the place. price controls, do you ever see that as a future and there are republican senators who hated

that, they don't want price controls, that's very anti-free market, is it not? >> i think price controls would be anti-free market, if you go back and look at pulling before the election the public trusted donald trump on drug price in the joe biden, was only area of healthcare that they had more confidence of him into advancing the agenda, lowering drug prices then now president-elect biden at this point. i think we did see why the public was engaged in why the president has been pushing out and why pharma is so opposed, with regard to medicare negotiating, it's important to remember that provision was inserted in the law when they were expanding coverage for individuals due to medicare part d program, this is the one of the very few programs when congress passes something the congressional budget office estimates are way off, this is one of the few programs that came in under estimate, it is saving the government more money than they thought it was going to with structure with negotiations. liz: we will be watching all of this, i would simply say it is

such a hard call, price controls may be kill and innovation but we saw the possibilities under our proration warp speed and president trump gets the tip of the hat for that. up until pfizer in moderna now, the shortest amount of time that we ever saw a vaccine come from idea to getting into peoples blood system was for years. this is under a year, we don't want to kill innovation, we don't want to do that but something has got to give. chris meekins and scott bauer. thank you. we are looking at the dow jones industrial following 172 points, half 8%, the closing bell is ringing and 49 minutes, we have a lot we are going to tackle, charlie gasparino, steve perillo of italy's perillo tours, he is making a big announcement and we gotta find out how he's going to handle that.

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liz: 6 million a bit quite, who is that guy if you don't recognize him, that is rapper logic and he has jumped on the bitcoin bandwagon via the video shared with 6.000000 instagram followers, that's how the generation makes big announcement, i'm spending 6 million on big coin, the bandwagon closing into the weekend, it's been a strong week four bitcoin, 18686 per corn up $746 alone. that is the logic of fact, the original crypto currency trading at the highest level since 2017 but we need to hit about 19 almost 20000 before you will see that record, not everybody is turning into a bitcoin believer, a good friend of the show, peter

schiff telling foxbusiness.com that bitcoin and other crypto's don't have long-term value because they have no value to store compared to other safe havens like the yellow metal. you could check out the story on foxbusiness.com. check this out, we just hit session lows and we are climbing lower and lower dow jones industrial top of the hour down about 189, down 230 at the moment and we have the s&p 500 down 19 when we started the show 17 minutes ago we were down about 12 - 15, we are watching this closely, a broad-based selloff often what we see during the pandemic people don't want to go into the weekend long stocked but that is if you're typing everything. a fox business alert, what retail ice age are we talking about, no retail ice age when it comes to hit sports, they are long jumping after strong quarterly result, the stock is

up 2% earlier in the session of 12%, the sports retailer says brick-and-mortar stores better-than-expected guidance after profits triple in-store sales climbed 21% during the quarter, footlocker the stock is down 5% but they reported a 9% jump in sales better-than-expected earnings but they warned on excess inventory country fuse over margins, we are looking at those two names protect they're down one more time, we have the dow component, nike, the dow is down to 36, nike raising its dividends by how much, 12%, raising a 12% after predicting a sales rebound in the second half of the fiscal year which ends may 21 of next year. were looking up nike half 8%, the sneaker giant has a little small swoosh going into the close, chinese electric

technology, shares her spelling out down 18.6% on a discounted $100 million share offering, what does that mean investors are not thrilled with the fact that that appears to dilute the shares that are on the open market, positive earnings sentiment through the week sparking low from the week from lee auto into the close, lee otto is jumping 2.6% and fellow chinese rival neo-in the green up a third of 8%, both of the stocks have been jumping. did you guys hear about this story, the meat and poultry processor has suspended managers at the waterloo iowa pork plant after disturbing obligation to a wrongful death lawsuit of a former employee who died in april due to covid-19. the family alleged that

management meet members were wagering, they had a betting pool on how many workers would contract the deadly disease. tyson is suffering, down 2.5%. they have crisis managers on the way i am sure. let's get to the resort open for business, one distinct differences here, the ski giant kicking off the winter season this morning but with capacity limits and advance reservations required that could put a crimp on revenues, the stock is down what and how% place but since the start of the quarter we should say the stock is up with a 28% on vaccine hopes but growing covid spikes across the globe threatening the long cold winter for the travel industry. what the company's famous worldwide for italian dream vacation is now doing to break through the ice, perillo tours steeper below speaks and a fox business exclusive, the closing bell ringing in 40 minutes, 218 for the dow, much more to come.

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>> i am actually webster with today's fox business brief williams-sonoma, the height and cookware stock rising into the closing after posting a digital sales jumped 49%, the company ceo saying the holiday season is off to a strong start across all of its brands, the stock up 5%. disney may be bringing more of its movies including live action remake of pinocchio directly to the streaming platform, disney has been refocusing its attention on direct to consumer options as the pandemic continues to wreak havoc on movie theaters. rising coping cases forcing more cruise cancellations, the princess cruise, and seaborne

lines suspended until 2021 comic-con divorce and it needs more time to meet the cdc requirements. the stock done almost 5%. coming up next carrillo tour steve perillo on how he plans to navigate the ongoing travel draft into the new year, "the claman countdown" is coming right back. ♪ for smarter trading decisions. fidelity. damom, look!get sare you okay?? head home this holiday with the one you love. visit your local mercedes-benz dealer today for exceptional lease

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you need flexibility- to work from anywhere. and manage from everywhere. advanced technology. with serious security. and reliable coverage, nationwide. forward-thinking enterprises, deserve forward-thinking solutions. and that's what we deliver. so bounce forward, with comcast business. liz: breaking news, president-elect joe biden right now meeting with house speaker nancy pelosi and senate minority leader chuck schumer, this is willing to delaware to discuss stimulus efforts to help the u.s. economy, this is the first in-person meeting, hold the shot, maybe there being kicked out of the room, they just got

kicked out, that's how that goes, you're getting to see the sausage here. this is the first face-to-face meeting between the three democratic leaders, let's get to hillary vaughn right now who is following the story, what was the number one topic here? >> list we heard from speaker pelosi this morning before she came here along with senate minority leader chuck schumer to meet with biden, one of the big topics as they were going to discuss was how to get something done in terms of covid relief in a lame-duck session because president-elect biden has insisted he wants congress to act now not to wait for him to be in the white house, it is really interesting the dynamic because president-elect biden has said he will reach out to republicans, he wants to work with republicans but senate majority leader of mitch mcconnell issued a statement shortly before this meeting

saying democrats like schumer and pelosi have made all or nothing demands and essentially have refused to work with the $300 billion of covid relief money that is sitting unspent. connell saying they can allocate that to relief for businesses, people out of work, hospitals but so far democrats have been insisting on an all-new 2 trillion-dollar package, biden has been reluctant to give a ballpark figure up until the point of what he wants to see from congress even without him being inaugurated what he did last week in a new move, speaker pelosi's bill which was the $2 trillion number, what is happening behind the closed doors, will he encourage pelosi and schumer to bring down their number somewhere close to the $500 billion that senate republicans have indicated they are comfortable with but also a topic that can be discussed in this meeting is how

president-elect biden will be filling out his cabinet, he has indicated he made up his mind who he wants for treasury secretary and will be sending to the senate to get confirmed. we do have an idea of who is on the short list and it would be a list that could make history because this role has yet to be filled by a woman or a person of color and on that list is vice chair roger ferguson who would be the first black man to fill the role if he was nominated or confirmed in the three others are all women federal reserve governor lael brainard, janet yellen and senate senator elizabeth warren the progressives have said would be their number one choice but because she would vacate her seat leading leaving it open throwing concerns that that would be a loss for democrats in the senate, progressives have indicated allied with senator

warren that they would be happy with janet yellen as a pick for treasury secretary. biden said he'll make that announcement around thanksgiving, that is a wait-and-see but i think that topic of how he's filling his cabinet, how progressive he's going is going to come up in this meeting a hind closed doors today. liz: who treasury is going to be headed by is a big one, lael brainard, she served as treasury undersecretary i believe under timothy gardner, i look at that, i believe it was him, i'm not 100% sure but under president obama, will be watching all of this and we shall see what happens, we shall see the best person for the job, leave out the politics, keep dreaming list that'll never happen. thank you very much, hillary vaughn, we appreciate your perspective and insight. we have a debate going on, i'm sure in your household, many

american households across the country right now, together were not together together for thanksgiving. the cdc very clearly making its choice advising americans not to travel during the upcoming holiday, that message echoed today by florida senator rick scott who tested positive this morning for covid-19, the former florida governor republican saying as we approach thanksgiving, we know this holiday will be different this year but listen to public health officials and follow their guidance. of course thanksgiving often marks under normal conditions the time were many book christmas vacation to europe but christmas in rome will not be an option for one of the world's best known i tell you and tour companies perillo tours, the ceo steeper below is the owner fox business exclusive. what have you and your company decided for the rest of the year

end through the christmas holiday. >> it's been interesting experience we learned through zoom we have our tour guides to do to her videos facebook cooking classes, we've made no money but my father told me one day is to have a rainy day fund so we will be fine, for next year we are starting to take bookings, when the vaccine, i'm jumping around but when the vaccine notice came out from pfizer around november 9, kayak did a report that bookings went up 10%. now they've gone up 20% and were starting to get bookings, this vaccine is the greatest thing that's ever happened to us and it's coming faster than we ever thought and we have other ways to work around, we allow you to cancel your trip 60 days before so you get an entire refund on air and land if you cancel within 60 days of your trip next

year end the best thing is we normally have tours, coach tours, we also have customize vacations for individuals. but our main business is the coach tours reporting, you can dominate or domineer a tour of your own for 12 people at a most the same rate, so your friends and family can take a big bus, your own guide, 12 you go round italy, you know you're safe and that's for most of the departures next year. we don't know yet but italy says they are going to get three and a half million doses of the pfizer in late january, i hope we get them first but i hope italy get some second period i don't take it going to be long. liz: let's hope it does not take long to get them out there. we can put up the latest numbers out of italy, they are seeing a radical spike like we are in the

united states as well, look at this 1,000,003 cases and 48569 deaths according to john hopkins, this began every member we first got you on in march and april when the area in the north the lombardi area saw an explosion, they were shutting down resorts right and left, it was a very upsetting situation because they were managing the situation and now they have to deal with it again. i want to ask you about the travel industry, this is a bitter pill to swallow that nobody is traveling over thanksgiving and you will not be doing in person tours until next year but talk to me about the jobs and the people in your partners on the ground in italy and how their surviving, 41 million jobs across the sector worldwide are at risk. >> it is really bad, italy is so much easier, you cannot compare the united states, the united

states had 50 italy's, that's white's easier for them to control the population and also keep everyone on the payroll, the government is keeping everyone halfway on their payroll, they're not doing so badly for now, their debt is out of control but for now everyone is pretty good and they're doing their hobbies, they have to get takeout food, the restaurants are open until six in some of the cities otherwise are closed entirely but the population is doing pretty well, were waiting for the explosion to to come the second half of 2021 and 2022 forget it's going to be bonanza. liz: i know and i'm thrilled about that, it really has to be but this pandemic has been a bitter pill i'm sure for you guys to swallow what does the future hold beyond that point in april, are you seeing booking

that are piling up for the second half of the year, what is the most popular. >> september, half of the bookings next year are people with postpones and about 60% of our customers postpone from this year so we wen let them of their book into next year, we don't want to move them again so some people going in april and may and were concerned about that but will work with them. we'll have a half a year next year, i think most travel companies, it's a cruise lines i'm concerned about the most, the lien tours are not so bad in the small groups and people are comfortable traveling by air, aren't you noticing that, that your situation is better for now. liz: slowly but surely, listen your grandfather would be so proud that you founded the company so long ago selling

steamer ship tickets to naples from new york, amazing stuff, keep the faith, hang in there and we hope to see you traveling galore. >> can i mention we have, you can experience italy on these vr glasses, i am a little side business, you go to the website, we send you these goggles and you can see italy like you are there, if you have an experienced 360 vr it is like being there, it is a great time now, the time has come for this. liz: put those things on and it is almost like being there. but we don't get the pasta, we need the pasta, you cannot get that. thank you so much, good to see you, the dot taken a stimulated approach to claiming victory in the upcoming senate runoff in georgia, charlie is about to break news on that in just a moment and they said it could not be done especially by a

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minutes to talk about stimulus for the economy, the gop sources say republicans are setting their sights on a new round of ppp loans for small businesses. charlie has the details on conversations that are taking place right now about that and you also have some news on georgia in the senate race. >> it's all related, what you have right now going on for the white house is not just the election recounts, they are facing corporate pressure and political pressure to do something, some sort of stimulus

for the end of the year preferably in december, the corporate pressure is coming from banks and business groups saying were entering another phase of covid lockdowns, the economy needs the money, were hearing that invoicing that publicly like guys like jamie dimon make a point that they should split the difference between both sides and do a package maybe $1 million. the political pressure is interesting and that's what we are hearing, my producer and i, we are hearing from our wall street sources that are tied into the white house republican party, there is a debate about doing a targeted stimulus even though it seems like it's off the table that they are talking about it in one of the reasons they're talking about is they're worried about the fact they would be no stimulus, they hurt the gop chances in the georgia runoffs, they need to do something to show to get david perdue and kelly loeffler, the two republican candidates in the runoffs, give them something to campaign on or give them

something that they can defend against that there is some movement here, how much are we talking, the numbers that we are hearing are not very big not in the trillion dollar area that was made ground the jamie dimon was talking about we are hearing 150 million in very targeted small business loans and small business relief and other targeted relief efforts, we should point out the white house is not confirmed, i do not believe there is an official effort to do this just to get, the word i am hearing it is being discussed and you may see steven mnuchin push for this after thanksgiving, that's what we understand that is going on, two things happening, corporate pressure as outlined and to worry about having no stimulus before the end of the year will hurt the republican chances of winning were one of those seats and maintain control of the

senate i believe that is on january 5, check my date on that, they would have to start working soon. back to you. liz: remember we were talking about tiktok in a guy we like is jake dillon. very funny. >> he sounds very talented. he sounds very ethnic, jake dillon. [laughter] liz: very blended, we cannot wait to find out, he is hilarious, everybody looked tiktok, forget streaming series or food, americans are binging on something in their homes you just won't believe, is the fed on homebuilders over or just beginning, today's countdown closer ready with the answer in the name he says you should invest in. closing bell ringing in ten

minutes the dow down 170 but will get the numbers of the week, how did the index move and how are they going to close on this friday. ok, just keep coloring there...

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liz: fewer than seven minutes left to trade, split decision for the week, let's take a look with the markets in the red today it looks like the dow and the s&p 500 are going to snap a two week winning streak but the nasdaq appears like it's going to close with the second week in a row, will see again over 34%, the s&p will lose two thirds of 8% same with the dow, as we take a look at the weekly losers, there is a top decline or across every index. >> it is walgreens, boots, the pharmacy company, each of the indexes lower across the board,

the winners that you saw there, the dow, but when having a much better week, the sales force, the dow loses, there it is walgreens down 12% as well as united health, look at these, boeing up 6% let's move on if we can to the s&p i want to get to some of the energy companies doing much better this week on the s&p, diamondback energy, that is saying, up 18%, l brands up 15% and petroleum gaining nicely up 14%, let's look at the losers on the s&p, walgreens boots, down 12%, boston scientific down close to 11%, ubs and morgan stanley cutting their price targets, cardinal health and other health companies not doing great, we had amazon talking about the online pharmacy business that has hurt walgreens in a number

of other companies, nearly 10%, the winners and losers on the upside, elon musk, dancing as we speak, of nearly 20%, moderna up 9%, libre up 9%, how about the losers on the nasdaq, i'll give you a clue, walgreens, there is 12% for regeneron pharmaceuticals down eight and xl energy down as you can see, 6% on the week, the dow, s&p down slightly but the nasdaq slightly higher to finish up the week. liz: i miss seeing you in person. >> same here liz. liz: in fact to our viewers we coordinate his time with my sweater. [laughter] liz: have a good one --dash.

>> thank you, liz, youtube. liz: you're more clever than i a pandemic bench is being borne out by one metric lumber futures have searched 24% so far this month alone, housing stocks rose by nearly 5% in october month over month, the national association of homebuilder sentiment index rose to a record high this month. how do you play a sector that looks extremely vibrant, let's get to new england investment president and founder nick, he has the etf, kind of encompass a bunch of the names in the basket that will pump up your portfolio. >> absolutely we use the itb, the homebuilders etf which is a great vehicle because it covers many of the leading names, the toll brothers, the br horton's,

in addition to that it has a large retailers, the home depot's and the lows, we think the sector is poised to have a good next 2 - 3 years, simple reason is demographics, we look at what's happening the 26 - 40-year-old, the whole curve of the millennial's as they go out and start families and have kids, they're looking to get out of the big cities, new york, chicago, boston's and so forth and so on, right now the pattern after the enormous runoff we saw from march until september, we think it needs a breather enter breather but as far as the fundamentals i think the next 2 - 3 years one of the strongest sectors will continue to be the home space. liz: i want our viewers to know something about nick, he has been climbing up about a billion in assets under management and this trade, some might say is one that is maybe getting a

little longer because so many people have rushed in to buy homes, where are we if we do the baseball innings analogy, where are we women comes to the homebuilders. >> i would say were probably in the fifth or sixth inning, seventh at the latest but i would not think that's the case. if you look at the supply and demand curve yet mentioned the price and lumber and the pricing commodities, certainly that plays into it and for the short term is overheated but the demographic and also aging baby boomers looking to downsize and sell their homes and go to warmer climates, arizona's, florida's, you look at the numbers over the past year for new home sales, existing home sales in the simple fact that the demand outweighs supply 5 - 1 that we think that is fundamentally that trend will stay intact for the foreseeable

future. liz: nick, president and founder, like in the plays there including jenna rack, the generator company, there is a closing bell ringing, were heading back down, not to session lows but the dow dilutes 227 points, the nasdaq down 52, hang in there and try to have a good weekend, i will see you monday. connell: we are making progress in many ways, distribution of a vaccine could be weeks away, we know pfizer has applied for emergency fda approval for its covid-19 vaccine, the dow in the s&p falling further into the red during the final moments of trading, the nasdaq racing what was an early game, investors are weighing all of this, the vaccine hopes against the lockdown concerns as a virus numbers continue to search pretty much around the entire country, the dow down to 20 today, the week snapping what had been to week winning streaks for both, they b