yoest. lauren lauren yeah, and the russell 2000, the worst losing streak since october. dade, michael, so good to see you. thank you as very much. of and i saw cheryl casone a few seconds ago. good to see you, cheryl, you're in for liz claman. cheryl: i know. we saw each other face to face. lauren: it was a little awkward, hey, what do we do? we smiled from afar, you had your max on. cheryl: lauren, it was great to see you. lauren simonetti, thank you. very much. well, you know, lauren talking about these markets and how they're performing. welling, they're really not -- well, they're really not performing. a lot has happened today to reverse course for the major indie indices, there's a log jam in the senate right now that ised holding up $2,000 stimulus checks for americans hurting from the coronavirus pandemic. we're going to go straight to capitol hill, up to the minute

details. things are changing fast and furious there in washington. now the senate's inaction caused that market to pull back from new intraday highs today, can and we're still kind of sitting on those lower numbers. the dow down 70, s&p down 7, nasdaq down 45. i any gain today for any of these would be the second straight day of records if any of these guys can turn around in the final hour of trading. remember, volume's low because of the holiday. a lot of volatility means it could happen, okay? so stay with us. meanwhile, businesses are still hurting due to coronavirus lockdowns and restrictions. one gym owner's taking his fight to the courts. why he is suing new york governor andrew cuomo for $1 billion. quite a fight going on there. we're going to bring that to you. and 2020 saw companies like airbnb, doordash and more go public in pretty spectacular fashion, but is 2021 going to be even better? one of the nation's top ipo

specialists is here to lay it all out for us. and they were just talking about this, the comeback is complete, boeing's 737 max makes its run to the commercial skies after two deadly crashes grounded it in march of 2019, believe it or not. we're going to talk to one of the passengers onboard american airlines flight 718 from miami to new york. well, let's get to these markets, folks. again, futures substantially higher this morning. it all turned around this afternoon thanks to washington, slipping after those opening highs. we would have had records for a second day in a row. potentially, our santa claus rally is at risk, but what happens come january? we'll just push it forward and kind of look at the dow as it's down 68. on average, the s&p 500 sees a return of about 1.05% in contrast to the just .67% on average over the 11 months of the year.

again, this is what history tells us. i don't think history predicted a pandemic, but anyway, let's bring in our traders. hey, guys, good to see you both. >> great to be here, cheryl. cheryl: greg, i do want to start with you as we spin this forward to january. we've had market record after market record, 55, believe it or not, on the nasdaq now. do we we kind of continue on this pace after the first of the year, or are there some tail -- excuse me, headwinds that you're worried about? >> yeah, i'm worried about some had hadwinds. look -- headwinds. i think it's just profit taking today, you'd expect that, but i do think there's some headwinds to be worried about. one is there's. so much optimism in the market right now, two is you've got to expect some tax increases. you know, we didn't get the blue wave in the election, so you not necessarily going to have radical economic policy, but you are going to have the tax increases, i assume, and i also think the market is discounting

the january 5th runoff election. so there's a few issues that could hit us pretty hard in the first week or two of january. cheryl: i'm glad you brought up that runoff election in georgia. scott, we'll take that to you because, you know, the markets have really been kind of celebrating the idea of gridlock as we're seeing again, you know, washington never fails to disappoint in how much they can fight amongst each other. >> right. cheryl: do you think if for some reason the democrats do prevail and end up controlling the senate, wouldn't that be a market negative? >> i absolutely think so, yes. and i think that any selloff that we would get on that if that scenario does play out is a buying opportunity. but like you said, cheryl, the market does like gridlock. the market wants a split congress, and if that doesn't happen, we probably will see a selloff. likely that we're going to see some tax increases, and, you know, when's going to happen to the fixed -- what's going to happen to the fixed bond market,

to the fixed instrument market, right? interest rates aren't going anywhere, so there's defendant going to be a headwind for there, but i do believe that if the democrats do happen to sweep that january a 3th runoff -- 5th runoff, we could see a market selloff. i'm not saying a 10 or 15% selloff, i think probably a 5% selloff. but, again, i would be very optimistic to buy into with any selloff based on that happening. cheryl: yeah. you know, greg, as well as we're looking at this back and forth in washington, i want to get your thoughts on why the markets are so sensitive to what's happening with the stimulus checks whether it's $600 or $2,000 because, to be clear here, folks are still going to get the $600. >> right. cheryl: that's passed. but going up 2,000, why there nervousness about that in. >> yeah, cheryl, that's a great question. i'm nervous too because it's not stimulus, you know? it's a relief, and that's

helpful to people or that are suffering. but these stimulus packages don't stimulate anything. it'll be a one-time bonus, and it won't change behavior which is what efficient and positive tax policy should do. so, you know, on one hand, you know, it'll be a nice short-term bump for the market, i don't want doubt that. -- i don't doubt that, but by no means, we went through this 20 years ago, the bush administration when they had the $600 refunds which is basically just glorified redistribution of transfer payments. look, i'm afraid that it's more of a headwind than a tailwind in the medium term. it's probably a short-term boost, but i'm also concerned about the political fallout. if you have the two, the two republican senators running in a special election are going to be torn whether to oppose it like a good republican should or they're afraid to, they're afraid to go against, you know, or disagree with the president

on this which could cost them politically in a very sensitive election. cheryl: well, i do want to add both kelly loeffler and david perdue have come out in support of the higher amount. and if you think about it, if you're going into election day, the more money you're handing out, frankly are, the better. scott, i want to give you the last word. >> yeah, i do. i think it's important for a psychological reason as well. we have seen some economic reports come out over the last weeks and months in regards to -- cheryl: oh, we lost scott. all right. well, you know what? i'm sure he was going to say something brilliant. guys, thanks to both of you. there's the dow, we're down 82 points right now, and all eyes are on capitol hill because, you know, there's just no end in sight in this fight to raise those stimulus checks. senate majority leader membership mcconnell says the senate will vote to override president trump's see i toe of the defense spending bill

tomorrow, fox news' mike if i man well joins us with the latest on this back and forth. it's really about the stimulus checks, mike. >> reporter: no doubt about it. good afternoon to you. top democrats tried to force the issue this afternoon, trying to bring up $2,000 stimulus checks today. >> we should not adjourn until the senate holds a vote on both measures, the nd a aa veto overi'd and the house bill to -- override and the house bill to provide $2,000 checks for the american people. >> reporter: ndaa price tag, $740 billion, which president trump vetoed. the senate majority leader would like to hold a vote to override as soon as tomorrow. >> congress has returned to work this week to enact the 60th an you national defense authorization act into lawment not once in six decades has congress let its differences to

keep from completing this work. >> reporter: mcconnell is saying not now on those $2,000, but a key progressive voice says that defense bill is not the priority right now. >> and working families need help now. not next year, but right now. >> reporter: democrats are hoping pressure will build on republican leaders with those critical runoffs in georgia one week from today, and both senators eager to be out on the campaign trail since their races will decide control of the senate. both david perdue and kelly loeffler say they are with the president on $2,000 stimulus checks. >> i stand by the president 100% of the time, i'm proud to do that, and i've said absolutely we need to get relief to americans now, and i will support that. >> reporter: even if they voted on those $2,000, it's not clear that they have enough votes to pass the bill. so far 5 remins are on the

record in -- republicans are on the record in favor, but they need at least 12 to reach 60 yes votes to approve it. cheryl: mike, do you have any sense with the state of play with regards to the 2,000 number >> reporter: yeah, we're basically counting heads. we've got 5 yeses, they need 12 republicans, so maybe mcconnell's thinking buy more time, take it up next week, but at this point they're counting heads, and it looks like they may come up short. but, you know, pressure to vote is on the line. perhaps those folks will hear from their constituents and want to go in favor of it. cheryl: yeah. and you made a good point of this the, a all of this going into the georgia special election next week. mike emmanuel, thank you very much. we appreciate it, we're going to be watching. well, luminar cutting through the quiet. they went public as a spac earlier this month jumping 14% at session highs, within a

market pullback as well. up 2.5% there. you know, 2020 is certainly the year of the ipo from snowflake to rocket mortgages to airbnb and doordash, will this momentum continue in 2021, or could the ipo pipeline be running out of gas? the man who helped salesforce go public answers that question and a lot more. let's check the big board as we go to break right now. we're down 53. anything that's positive here would be another record for the dow, and anything can happen in the next 50 minutes. "claman countdown" coming right back. ♪ ♪ turn on my tv and boom, it's got all my favorite shows right there. i wish my trading platform worked like that. well have you tried thinkorswim? this is totally customizable, so you focus only on what you want. okay, it's got screeners and watchlists. and you can even see how your predictions might affect the value of the stocks you're interested in. now this is what i'm talking about.

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♪ ♪ cheryl: lemonade trading higher after two days of losses. 44 million shares of the online insurance company becoming eligible for sale today as the lock-up period expires. lemonade joining airbnb, doordash and snowflake with blockbuster debuts this year. but are other gushers going to be untapped for 2021? let's bring in the ex-ceo of

salesforce. good to have you here. we're looking at some of these numbers, 457 ipos as of december 24th. is it even possible that 2021 could be a better year in. >> well, clearly december this in this past year has been grand, and i think in 2021 i'm getting phone calls from people already talking about how they get their company public in 2021. so i think it's going to carry on. cheryl: do you think that there is still an appetite out there for ipos, especially because we've seen so many go via spac, special purpose acquisition. you know, it seems like it's were better for the company, they keep more control, but it also kind of cuts out, in a way, you know, some of the bigger wall street banks that have a big business of bringing these companies to market. what do you make of that? >> i mean, the spac has been

around for a long time. they fit for certain companies. obviously, the traditional ipo's been a strong part of this past market and i think will continue to to be. and then i've got to give the new york stock exchange credit, they'll allow all individuals and investors to participate in that opening pricing. i think next year there's a wide range of schools for companies to go public. they have to pick the one that fits their best need, and i do think there'll be a lot more companies going public next year. cheryl: what types of companies? >> yeah, it's going to be a very big range. i suspect spacs e help certain technology companies take advantage of the market and get out in a simpler, more efficient way. i think the direct listing is going to help a lot as well. so technology companies, a lot of software companies still that's been the prime part of the market. and a lot of services businesses via the internet. so a wide range, and i think investors are going to have a great opportunity to pick from a

lot of different companies. and not just u.s. companies. identify got a number of -- i've gotten a number of phone calls about european companies, mostly tech and soft war, that are looking to go public next year as well. cheryl: that's interesting. and that's something that would be available, i'm assuming, to u.s. investors. let's talk about, you know, a lot of times these blockbuster ipos, they lock out the average investor. what would you say to the average investor that wants to be a part of these new listings? >> no, i i think that's an excellent point, cheryl. individual investors tend not to be able to participate until after the initial offering. i this that's ooh -- i think that's where the brilliance of the direct listing process that the nyse is bring out will help all of us as individual investors participate in that initial pricing schedule. that said, i'm also a big fan of companies falling out sooner rather than later so i get a spot price that i can actually

share instead of 100, $200 and $300 a shower. to i'm looking forward to the individual, i know the industry calls it retail, but quite frankly, it's individuals that need to start to participate and participate with these variety of methods that companies can go public in. cheryl: and just real quick before i let you go, any concerns about the biden administration, the incoming administration? do you think there could be some type of trickle-down effect on ipos? >> yeah. i think the capital markets are always very cost effective and efficient. they've typically not responded in the near term to administrative changes. clearly, december macroeconomic challenges, administration change pending,, you know, i think the markets will be strong next year regardless of the administration. cheryl: it is a fascinating topic, and it's been an exciting year. steve cakebread, thank you very much for being here. >> thank you, cheryl. cheryl: let's take a look at

what's going on with disneymrs. right now. disney+right now. the streaming service hit 2.3 million downloads during the christmas holiday. that is a 28% pop over the weekend before. a part of disney's fourth quarter gains, taking a look right now in the quarter, that's the performance number since september 30th. 32% gains -- 42 president gains. incredible, right? the boeing jet fleet taking flight once again, landing at laguardia just moments ago. one of the passengers is standing by to give us a firsthand account of that first ride. and let's take a look at the big board, we're down 31. i'm telling you, low volatility, you could get another record on the dow. anything's possible, and it is coming back off of the lows. we shall see. stay with us, "claman countdown" coming right back. ♪ ♪ ce

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cheryl: got a fox business alert for you right now. taking a look at barnes and noble education stock. this is the college textbook are tailer after promising investors more cost-cutting measures in the coming months ahead of expected shifts to online learning in the spring semester. poor kids out there. up about 7%. chinese e-commerce giant alibaba bouncing back after a christmas eve selloff, what was once china's most valuable company on track for its best day in nearly three months, stock up more than 7%. and then the vaccine makers are seeing green today. astrazeneca, johnson & johnson, novavax all moving higher on reports their covid vaccines could all be approved for use in the u.s. early next year.

astrazeneca getting a double dose of positive use, its vaccine on track for approval in the u.k. this week, fighting that new strain of the deadly virus. j&j, up three-quarters of a percent, novavax, 3.5%. and moderna getting a boost today. vice president-elect kamala harris gets her first dose, of course, that was on camera. a healthy 2020 year for all the vaccine makers, especially this from moderna which is already on the market. that is year to date, look at that, 479% gain year to date for moderna. unbelievable. well, it has been nearly two years after being grounded following two deadly crashes, the boeing 737 max is finally taken to the skies with paying customers today. the first flight took off around 10:30 a.m. this morning originating from miami

international and flew north to good old new york city. all systems were a go just before takeoff. >> it's a newer aircraft, obviously. it's an aircraft that i know that our customers really will like to fly in terms of the interior and the i amenities that it can offer. but also the aircraft much more efficient, it's much more green, it's a new plane that i'll be flying and other aircraft are the ones that ought to be left at home right now. this aircraft's ready to go. cheryl: and with us now is ryan you wing, founder and president of airline geeks. he just arrived at laguardia airport at flight 718 from miami. so, ryan, how was the flight? >> cheryl, it was a great flight. the airplane flies really good, and i really enjoyed it. it was a great ride, and we had a really nice time getting the airplane back in the air and seeing what it can do. cheryl: so did the flight attendants, the flight crew, they make a special effort to

talk about the fact that those passengers were on a 737 max? >> they did. so, actually, before boarding they're now required to make an announcement at the gate notifying passengers that they are on a 737 max. once they got on the airplane, the captain made an announcement telling us we were on a max, and he actually told us that his wife was on the plane in addition to the first officer's mother, so it was kind of a family affair. cheryl: we just showed some of the pictures. we were looking at the pictures you actually took for us, so thank you for that, for being our eye in the sky today, ryan, we appreciate it. >> yeah, yeah. cheryl: i'm curious as far as overall in general because you do cover the aviation industry the, do you think the flying public, the general public is going to be cautious about getting onto a max? did you hear any passengers say that they were nervous or they didn't realize they were flying on a max in. >> no, cheryl, i -- there was no indication from any of the passengers in the gate at miami

that they had any ap remention about flying the max. the couple people that were on the flight that were just normal, everyday fliers were anxious to see how it would go. overall, i think generally, you know, necessarily doesn't really pay attention like i do to the aircraft type, but the airline goes out of the way to be transparent, that might be a different story. cheryl: there were executives and, i know, some press were onboard as well. it's a big moment, obviously, for boeing, american, southwest, united are going to start to roll out their flights in the next couple of months which will be a good thing. curious of just in general what you're seeing out of the airline industry. we've had a lot of conversations about are people ready to get back on planes, are business travelers going to come back once the vaccine is maybe, you know, in wider distribution throughout the country? what are you hearing, what are you seeing? >> you know, it's a good question. it depends on the destination in

large part, especially nowadays. the market's more leisure driven. a lot of people, you know, going down to miami, actually, i was on my way down there last night, the flight was full. so, you know, the warmer destinations in the sun belt, there's certainly a market especially for places that are open where people can go out and be able to do i stuff while they vacation. but we've heard from business travel, that's a tough one. the vaccine might make that easier, but i'm sort of interested to see how zoom will play in, you know, the zoom world that we all live in now. especially because it's cheaper, you know, for companies to put people on zoom than it is to fly them halfway across the world. cheryl i'm also curious what airlines are going to do with changes they've made during the pandemic. some of these airlines were charging $200 for a change fee. >> oh, yeah. cheryl: charge me $200 on my $200 ticket. do you think they're going to sting with the plan and be

more -- stick with the plan and be more consumer-friendly? >> i think they will. it's a defining moment for the industry. i've never seen it, and, you know, change fees are one thing, but just regards to onboard service too, i mean, you don't get what you used to. you don't get a meal in first class, they don't serve any drinks in the back. that's more at this point a cost-cutting measure, but, you know, it's also for the safety of the crew as well. we'll see if that plays out as the industry recovers. cheryl: that's interesting. so i take it you're going to continue to fly on the max and continue to travel as much as -- >> i have no -- yeah, i have no apprehension or flying on the max or traveling. i think they're doing a great job at cleanliness and, you know, most airlines have the hepa filters onboard their aircraft, so it makes it a pretty safe environment if you do it right. cheryl: a little trick i learned, turn the air vent on above you. >> there you go. cheryl: ryan ewing, thanks for

the play-by-play. you're literally at the airport. >> i am. i'm at laguardia with. cheryl: thank you very much. we appreciate it. >> absolutely. thanks, cheryl. cheryl: ryan ewing. well, let's get back to what's happening in washington. a new round of stimulus is coming quipped with new rules for the small business loans. what struggling business owners need to know before they apply for this next round of aid. and also what about if stimulus is not enough for the company? gyms are fighting through the burn of covid. the drastic action some owners are taking right now to save their businesses. as we go to break, the dow is only down 19. hey, we've got 28 minutes to go. anything can happen right now. we could turn positive. dow down 19, s&p down 2, nasdaq down 34 and change. we'll be right back. ♪ ♪

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♪ cheryl: local mom and pop shops are begging for help from the

government, and it could be on the way soon. the latest stimulus bill includes just under $285 billion for more paycheck protection program loans. there's a drastic change on who exactly will be able to get one. not all business owners have time to look through all the fine print if, but our very own jeff flock does. here from naperville, illinois, we find jeff with a local business owner who he's able to get some answers to. hey, jeff. >> reporter: absolutely, cheryl, yeah. we've been trying to tell you what you have to do if you're a small business like this called pinot's palette. you may know of these kinds of places where you drink some wine and learn how to paint. pam bartlett, we met a couple months ago when they were shutting down. tough times, you got your ppp loan, and now you need another one. >> yes, we do. the last one actually kept us open. we were able to pay our employees, so it was great to get that money.

>> reporter: here's the deal, there's less money available this time. $284 billion this time, the first round was over $500 billion. but it's targeted at maul lenders, community lenders, deposit lenders and small businesses like yours. there's also $15 billion for grants for theaters and and live venues and that sort of thing. obviously, business owners try to stick together. >> yeah, we do, we all support each other, and we're all very happy this has come about again, that we can apply for the ppp money, and with need it to keep our businesses alive. >> reporter: cheryl, take a look at these numbers in terms of the max that you can get. this time it's $2 million in terms of the max loan. you get two and a half times your average monthly payroll. if you're in the restaurant business and the 40 tell business, three and a half times. can you get enough money to keep going and continue to, you know, keep people --

>> yes. it'll be the same amount as it was last time and, yes, it will keep us open, keep us paying the rent and paying all the bills and the people. >> reporter: one final note talking about how resourceful these entrepreneurs like pam are are, they've come up with, you know, used to be you came in person is? take a look at this, this is a painting kit to go. >> yes. take-home painting kits. you can follow along with the live class or a prerecorded video. >> reporter: this is where they conduct their classes, they do a virtual class online, stream the it. so it's not quite the same as drinking wine with your friends, you know, perhaps here, but it's a way to keep the business alive while we wait for the end to this long american national nightmare. cheryl, back to you. cheryl: thank the lord for zoom happy hour, over, that's all i can say. >> reporter: you said it. [laughter] cheryl: thank you, sur. well, you know what? after happy here you're probably

going to need to work out. another industry that has been slammed is the fitness industry. 31,000 gyms still remaining $11,000 gyms remaining shuttered, and one gym owner is saying enough is enough on behalf of the entire industry. joining me now in a fox business exclusive, united states fitness coalition president and ceo charles or becerra who just filed a lawsuit in new york state to remove lockdown restrictions on gyms. great to see you. >> thanks for having me. cheryl: what pushed you to the point to finally say, that's it, i've got to get a lawyer, we're going to have to sue as a group because i'm assuming the governor's been ignoring you. >> the governor hasn't listened to us, he hasn't listened to any of our worries, our concerns. but it pretty much came after governor cuomo decided that gyms weren't going to be a part of phase four, and he was going to lock us out indefinitely. immediately after that we filed a class action lawsuit. that class action lawsuit actually got the gyms open.

however, it dud give the ability to localities to end coop indoor fitness classes closed within manhattan, and those gyms haven't been open for nine months. no one can survive on that. unlike what was just reported before, ppp doesn't help us. this new stimulus package that was just passed, it's no good nurse. so we really -- for us. so we really had no choice. cheryl: i'm sorry, you say this new round of ppp isn't going to help the industry? because of the restrictions, i'm assuming? >> i'm going to be honest, this bill is just garbage. and it's not garbage because of the foreign spending in it. the $600 is a joke. but the ppp money goes to businesses that are payroll-heavy. gyms, for the most part, are not payroll-heavy. we are payroll-light and rent-heavy. there is nothing here for us. there's no way for us to get think of that money -- any of that money, and we also get less.

we're a gym, we get two and a half, everybody else gets three and a half. the second round's going to do even less. cheryl: but isn't it true that gyms have become safe places to go? i say that because you look at the data in new york state, it doesn't seem to me from what i've seen that gyms and salons also as well as dining are really where the spreading of the coronavirus is happening. isn't that correct? >> you are correct. and it's a great point. if anybody listened to the governor the last couple of days, he was speaking about fraud. fraud happens to be wrongful deception. so we have a lot of that going on. the governor said we were problematic, top spreaders. however, a few weeks ago that we are .06%, and we're not even in the top ten industries that spread or cause covid. so that really did us harm. vilifying us in the media and all that. so, yes, we are one of the safer

places to go. plus we also help fight the co-morbidities that the virus attacks, so, yes, that's right. cheryl: well, you're right, obesity and different types of health-related issues or diseases that go along with that, that's a great point. charles, we wish you luck. please come back and leapt us know any progress on that lawsuit against governor cuomo. >> thanks for having me, i will. charles: well, you -- cheryl: you don't want to miss the fox business next virtual town hall. carl payne is going to host -- charles payne going to host the future of capitalism january 13th, 2 p.m. eastern time. message fox business on facebook, since gram interinstagram or e-mail your questions to invested in you@foxbusiness.com. coming up next, president-elect joe biden expected to make remarks about his plans to fight the coronavirus pandemic. we're going to go straight to wilmington, delaware, for an

update. we've got about 17 minutes to go. we'll be right back. ♪ ♪ limu emu and doug.

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♪ you know you got to live it ♪ ♪ if you wanna wi... [ music stops ] time out! only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪ cheryl: we've got some breaking news tog you. you're looking at live pictures, president-elect joe biden right now is laying out his plans to combat the coronavirus pandemic after he is sworn in next month. just met with his covid advisory team. let's bring in hillary vape, she is in delaware -- vaughn, she is in delaware with details on these remarks. hillary. >> reporter: hi, cheryl. well, we did hear president-elect biden tell americans that the toughest days lie ahead in terms of combating the coronavirus and trying to get the pandemic under control. he said he knows that that is something that is hard for

americans to hear, but it's the truth. and really the good news of the vaccine being rolled out is kind of being overshadowed by what president-elect biden is forecasting, a grim forecast, saying that he expects infection rates are going to go with up over the next several weeks and that covid deaths will also be going up as well over the next several weeks. but he is expected in his remarks to criticize the trump administration for what he says is not keeping pace with the number of vaccines that were expected to be rolled out by now saying that the trump administration is behind. so today biden will be rolling out his plan on what he would do differently to expedite the number of vaccinations. biden himself already got the vaccine and today vice president-elect kamala harris did as well. and while she got that vaccine, she made the point that having a working and effective vaccine does not do the country any good if no one takes it. is so today she kind of walked

back the tone and tenor that she had previously taken in response to this vaccine. originally she said if president trump told her to take the vaccine, she would not take it, but today she is doing just that, telling americans that the vaccine is safe and that they should take it. >> as joe likes to say, there's a big difference between the vaccine and vaccinations. i want to encourage everyone to get the vaccine. it is relatively painless, it happens really quickly, it is safe. i trust the scientists. and it is the scientists who created and approved this vaccine. >> reporter: as part of what has been brought up, cheryl, about why the vaccine rollout has been so slow comes to funding for states and funding for hospitals to get the advantage seen out -- vaccine out. but in the new relief bill that president trump signed into law on tunneled, it includes $69 billion to help get vaccinations

into arms of americans, and we're waiting to see today really what president-elect biden would do differently. does it mean more federal funding or something spirally different. cheryl? cheryl: and we've been listening in on president-elect biden's comments, hillary, as you been doing your live report, and he's taking kind of a swipe at president trump saying that the vaccine rollout and really the handling of the rollout, president trump has fallennen behind in particular with regards to the advantage seen. e also said -- vaccine. he also said until march really things aren't going to got any better, that's what president-elect joe biden just saying. so some dire words from him. hillary vaughn, thank you for that live report. i know you've been following the team for months now. really appreciate it, hillary. >> reporter: thank you. cheryl: all right. well, let's move on to our closer which is coming up in a couple of months saying that the toll takers on the information superhighway can super charge your portfolio in the new year. we're going to explain what a toll talker is and how you can

make money off of that. and taking a look at the bell as we get close by, excuse me, the dow. we're down 22. we are close, we've got nine minutes to go. "claman could countdown" will bt back.

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♪ cheryl: well, we have five minutes to go. markets are really kind of escalating the losses if you will a little bit. the dow at one point was down 184. it had been up 129. we had a lot of volatility today with all of our markets. s&p we're down almost eight points. we had been 12. s&p has been a little more stable. russell 2000 not clocking in any gains. nasdaq at one point was down 77. we're down 56 right now. we'll not get the new records today. you never know though. tomorrow is a new day, folks. i will be back here with you. another stock we're following today. intel is getting an activist boost into the close.

dan loeb's 30 point is asking the chipmaker consider strategic alternatives whether it should remain a device manufacturer. it has lagged behind its peers in 2020. it has fallen 18% and had lot of product delays. they had exits by the lot of designers. the latter urgent issue for mr. lobe's letter. intel was considering outsourcing production of some of its more advanced chips. we'll see. this is obviously one of the bigger stocks we watch. the stock is up almost 5% right now. dan loeb making his way through as you normally does. the road to 2021 is getting shorter and our "countdown" closer has some big payout stocks you should be riding into the new year. let's bring in brian yacktman, ycg fund cio. good to have you here. >> thanks to having me on, cheryl.

cheryl: i did a trouble take. you called them to takers. explain what a toll takers is. >> business extracting tolls on their activity within their industry whatever respective industry they're in. cheryl: so some of the names, i will go through the names irguess. you say moody's, s&p global is a toll taker. explain how and why that is? >> essentially they're like a toll taker on all global debt issuance in the world. if you're a business, you want to raise debt in the capital markets you have to go through them. they're the gatekeepers they created a globally recognized language around the world to rate the riskiness to communicate, the riskiness of debt f you were to try to go around them to use a different language that is not well-known your cost of debt actually goes up. so it's a no-brainer for businesses to pay a small price to be able to have reduce their cost of debt by even more.

then they essentially act as a toll taker on all business activity as businesses continue to issue debt around the world. cheryl: real interesting theory. i like the way you're thinking on this. this one i love, it would have been obvious. mastercard and visa, that is toll taker on transactions. >> sure. global gdp activity around the world. the sheer size of their network is underappreciated. they're connecting billions of cardholders to millions of users all around the world. if there is constant activity throughout the world they're a toll taker as people that run transactions through their rails or through their highways if you will. but the thing is the cash is really their competitor because 3/4 of the world's transactions are still in cash. we view them as a global champion with very long runaway of continued toll taking. >> you like microsoft up 43% this year. microsoft had a good year. >> for sure. they have been the beneficiary of what happened this year.

even though their valuation has gone up the thing i would point out as a toll taker they're almost like a toll taker on all bus activity. think of it like a tax on business. they're becoming more deeply entrenched in businesses and more networked giving them pricing power. i know some people complain about the size of market cap. they're 1.7 trillion market cap company but consider that their total addressable market is probably one of the largest in the world. just azure cloud business alone is over 3 1/2 trillion total addressable market. we think again a very long runaway for growth among this global champion. cheryl: i was going to say these are obviously picks for 2021? you're sticking with these names. >> absolutely. moody's and s&p, i think they're actually at a great valuation because even though their businesses have benefited i think that other business, investors are concerned they will have a hard year-over-year comparison. so even though the stock has gone up their performance has

been fantastic. rather than try to time the performance of the business we think this is a very long runaway toll taker. cheryl: i agree. brian, thank you very much for those picks. love it. [closing bell rings] no record today, folks. not far off the all-time highs. that does it for "the claman countdown." jackie deangelis take it away. jackie: thank you, cheryl. stocks falling from all-time highs as hopes for $2000 stimulus checks fade. senate majority leader mitch mcconnell blocked an effort to quickly increase the amount of money being sent to americans. i'm jackie deangelis in for connell mcshane. welcome to "after the bell." it is time for the news happening at this hour. ♪. we have fox team coverage. mike emanuel in washington, hillary vaughn in wilmington, delaware. mike, let's start with you with la