charles: chevron, give me the names and symbols quick. >> chevron, ping and we like service now. those are the three stocks that'll get you through the next few weeks. charles: paypal up $6 right now. rob, thank you very much. liz claman, the markets seesawing a little wit. over to you. liz: well, you know, the s&p had been lower. what's interesting as your guest just said, we are seeing a rally. the breaking news on this friday, president-elect joe biden says the nation needs to spend billions more for vaccine distribution and trillions for different types of plans to pull this economy up and out of the pandemic blues. this as he beefs up his economic team. in just the last hour he introduced nominees to head up commerce, labor and the small wiz administration. we're going to game how they plan to heal a jobs market punished by the pandemic and move forward after the trump trade war with china and europe.

the dow is still lagging though just a bit, way off its lows though. that's a reflection of concern about the labor market. blue chips lower in this final hour, just by 11 points, had been down 247 after the december jobs report shows the travel and leisure industry absolutely reeling from the coronavirus lockdowns. one of the world's most widely followed economists is here. even as the nasdaq and s&p hit records, allianz chief economic adviser mohamed el-erian on what the rising 10-year bond yield might say. and the coronavirus facing the tech world's largest annual trade show, no vegas for ces this year. ahead of the kickoff, we've got the consumer technology association's top dog, gary shapiro, first on fox business with what's already one of the biggest surprise reveals of the

virtual event. but we get to this breaking news. president-elect joe biden has just unveiled a new tactic for distributing the covid-19 vaccine. he plans to release every dose currently available, a direct shift in strategy to the trump administration's plan which had been withholding 50 percent of the vaccine to insure that the two-shot per-patient protocol could be followed. he also said he will spend trillions, this comes as a new study shows pfizer and biontech's covid-19 vaccine does protect against the new virus variants. the stocks of both of those names jumping higher, at least forpoint tech, up 6%. point tech. the u.s. reported its deadliest day in covid-19 history yesterday, deaths surpassing the 4,000 mark for the first time ever in a single day. to blake burman live at the white house, blake, the biden vaccine plan coincides with this letter that a group of governors has just sent to current health

and human services secretary alex azar begging for the same thing, release the vaccines. any word on the response? >> reporter: here's the letter right here, liz. it was sent by governors of eight different states, the governors of michigan, kansas, minnesota if, washington, california, illinois, new york and the state of wisconsin. and it says to get the vaccine -- essentially not hold them back, get them all out there. quote, we demand that the federal government given distributing these reserve doses to states immediately. it's part of what president-elect biden says will be a part of his plan. liz, as we've also been reporting here over the last week or so, it's not so much that the states don't have enough doses at this point, it's that they can't get them into the arms of people fast enough. right now the national average, for example, is somewhere at around 30%. we also heard, as you're taking a live look at the president-elect in wilmington, delaware, as he unveiled the final members of his cabinet, and it had to deal with the part

of his economic team. the president-elect officially announced a little while ago the boston mayor, marty walsh, will be the nominee to become the labor secretary and isabelle guzman to run the small business administration. the afl-cio is backing the selection of marty walsh, this is what richard trumka said in a statement, quote. as a longtime union member, walsh knows that unionizing is building back better, expanding opportunities for immigrants, women and people of color. that from the afl-cio. what's interesting is that the president-elect has said that he was considering bernie sanders to run up the labor -- to head up the labor department. but the reason why he decided not to go that route is that both of them believe that was a 50-50 split in the senate, they just don't want to take any

chances. listen here. >> people in both parties now recognize it's time to raise the minimum wage so hard working people earn at least $15 an hour minimum. no one, no one should work as millions are doing today 40 hours a week at a job and still live below the poverty line. >> reporter: that, obviously, not about bernie sanders, but noteworthy nonetheless as the president-elect called on congress to raise the minimum wage to $15 an hour. there was a lot of news in there. as you also mentioned, the president-elect saying he wants to see trillions of spending as he gets into office right off the bat. liz? liz: yeah. yeah, he definitely did say that, and we saw the markets rally. in fact, the dow was just a point away from turning positive while you were speaking, blake, which brings us to the jobs report. the virus surge being flame blamed for a glass mostly half

empty because of the jobs report. there it is, dow's positive by 4 points. the headline number was bad enough, non-farm payroll fell by 140,000 in december. while we did see upward revisions two prior months, two sectors got absolutely crushed in this latest report. leisure and hospitality suffered a loss of 498,000 jobs and as new covid lockdowns and transitions took -- restrictionses took hold, the restaurant industry saw 372,000 jobs vaporized. can the stock market continue to celebrate? and should your portfolio celebrate? let's bring in wall street's most followed and closely-widely looked at economist, allianz chief economic adviser mo happened el-erian. considering most of the carnage came from that travel, leisure

and restaurants, what message are you getting as it per talk abouts to people's portfolio positions? >> not much about the portfolio. what it tells you is the economy weakening. i am worried that the next job report will also involve job losses, and that is coming at a time when the labor market is already suffering. so the economy is weakening and weakening quickly. the markets are focused elsewhere. they're focused on stimulus. they are focused on central banks. and i suspect the markets will continue to brush off the news on the economy, expect path of least -- and the path of least resistance for now continues to be upward. liz: okay. and yet you look at these numbers. now the dow is solidly -- well, 13 points to the upside, i'm calling that solidly positive, s&p better by 12, the nasdaq up 87. it just appears there's this

disconnect between what's going on currently with the economy and, of course, the froth in the markets is still very much in play. do you ride this wave? >> so, first, this is the biggest disconnect aye ever seen -- i've ever seen, and i could is never imagined. but then i would have never packaged that the central banks were pumping so much liquidity that it would end up in the marketplace. that's why there's this notion of a rational bubble. it is a bubble because it's unrelated to fundamentals, but it's rational because it depends on all these injections of liquidity. look, i tell people it depends on how comfortable you feel with a rational bubble. that is what you're investing in right now, if if you feel comfortable, go right ahead. i admire people who do feel completely comfortable. i like to be selective -- [laughter] liz: yeah. >> -- defensive elements to my positioning. but you know what? that has been the right call, surf the wave for as long as it

lasts, just make sure you get off it in case it getteds intawpted. and -- gets interrupted. and we saw today how sensitive the market is to talks of stimulus. liz: of course. that's exactly what joe biden just said in the last 13 minutes. he said he will spend trillions. but i need to show our viewers the 10-year bond yield. for the first time since nine months ago, it finally hit 1.1%. so as you look at that, you know, this has been these extraordinarily low bond yields of .5%, .6%, now we're at 1.118 at the moment, is the allure of equities still strong when the actual exact thing on your screen, the 10-year treasury, which has underpinned and buttressed these markets, if these yields continue to rise? for equities i mean.

>> it is for now. that has become the most important number to look at. i look at it first thing every morning because the higher the yield goes, the more problematic e for markets one because of relative attractiveness, as you just pointed out. two, because it puts the fed in a really difficult position. the fed will not be happy to see the yield go up despite the trillions of dollars it's been buying in bonds. so keep an eye on that. that is perhaps the most critical number right now. it's still manageable, but we can't continue to see it go higher and higher and expect the equity market to go higher. liz: is there a tipping point? is there a support level where you'd say now it's not manageable anymore? >> you know, it's -- those questions are really hard to answer because they deal with psychology and behaviors. the question that everybody would ask is what is your tipping point because they'll want to know what the other

person's tipping point is, and you never get a handle on this. there is a tipping point, i don't know what it is, liz. liz: okay. the vice chair today said that rates will stay at current levels -- fed funds futures rates -- until inflation exceeds 2% for some duration. so current levels, and then he also said they'd keep the bond purchases going til the end of 2021. i mean, that's shorter than what we had heard before from jay powell, the chief of the federal reserve, which was 2023. >> yeah, but i wouldn't, i wouldn't worry too much. i mean, the minutes that came out on wednesday tell you that the fed has no desire to taper, and when it tapers, it's going to do it really carefully and very gradually. i think the problem, and we're seeing it in the marketplace, is that the fed can control anything up to the 2, 3-year and maybe even 4-year point of the bond market, but it can't control the 10 and 30-year.

and that's what the market has been looking at. liz: yeah. yeah, and finally, any points of froth in the market? we've got spac land with all of these spacs that have done incredibly well, not to mention bitcoin which was above 40, 41,000 earlier today. anything worry you about that? >> a lot of worry. someone who bought bitcoin at 5, sold them at 199 and watched it double in less than a month, okay? [laughter] loss of evidence of excessive risk taking, but so far it's been well rewarded. you can keep this game going. i want to stress, you can keep it going by pumping more and more liquidity, but these are artificial valuations, so just be careful out there. liz: mohamed, have a good weekend and thank you very much. great to have you on the show. mohamed el-erian. always a pleasure.

wednesday's violation on capitol hill alarmed so many americans, but what if you noticed that one of your employees was caught on camera in the middle of that violence? should they be fired from their jobs? it's happening already. some bosses are showing the answer is yes, and they have already taken action. we'll tell you who next. closing bell ringing in 48 minutes. now the dow is up even more, up about 18 points, having completely reversed from the red. and we are at a brand new record. stay tuned, we're at 31,055. much more ahead on "the claman countdown." ♪ ♪

liz: president-elect joe biden just s ago reacted to president trump saying that he will not attend biden's inauguration. the president-elect telling reporters trump is, quote, not fit to serve and that his absence from the inauguration is a good thing. now, biden also said that vice president pence is welcome at the inauguration, and by way of policy, biden also promised an immigration bill immediately once he takes office.

check of the dow right now, still holding on to gains of about 4 points. breaking news, within the next few hours the department of justice is expected to open up a death investigation into the killing of capitol police officer brian sicknick. reports say the 40-year-old 14-year police veteran of the capitol police was hit in the head by a fire extinguisher during a fight with the mob that broke into the capitol wednesday. officer sicknick is now the fifth person to have lost his or her life in the riot at the capitol as the search for his killer goes on, the metro police are also looking for all of the following people. they are facing charges ranging from unlawful entry to more serious charges, and now some people are losing their jobs after their employers recognized them on tv and social media as part of the mob. to ashley webster with more on what, i would imagine, will be

more and more job losses at this point. >> yeah. it certainly looks that way, liz. for instance, managers at a printing company in frederick, maryland, saw a man on twitter wearing a company badge among the rioters inside the u.s. capitol. allegedly, this is him in this metro police photo. so after reviewing a number of photos, navastar direct marketing said the employee had been terminated for cause adding in a statement: while we support all employees' right to peaceful, lawful exercise of free speech, any employee demonstrating dangerous conduct that endangers the health and safety of others will no longer have an employment opportunity with navastar direct marketing. goosehead insurance, that's a company based in texas, says it has fired paul davis. he was an associate general counsel at the company. in an e-mail to employees, the insurance company said it was

surprised and dismayed to learn that one of its employees had taken part in the demonstrations at u.s. capitol. an instagram account, by the way, identified this paul davis, wrote that he was peacefully demonstrating. but in most states, employers have pretty wide latitude to fire employees even for conduct outside the workplace. fox news legal analyst andrew napolitano says the law is clear saying, quote, employers may lawfully terminate employees for conduct outside the workplace if they can show that the conduct was criminal or that the conduct is likely to damage the product or service that the employer offers to its customers. and finally, liz, if you ask, well, what about the first amendment? yes, it does protect our right to protest, but it does not provide any protection for employment, as we're finding out. liz? liz: yeah. yep, private companies can

basically fire you for cause, they can do whatever they want. we'll be watching more developments as the fbi has put out the be on the lookout for a whole host of some of them that they've been managing to get tight shots of committing some violence. thank you. jason momoa, remember this? taking it all off for last year's rocket mortgage super bowl commercial, but this year getting blitzed by the lockdowns. we're crunching the numbers ahead of the wildcard weekend. and what's the future of capitalism? charles payne tackling what capitalism will look like in a fox business virtual town hall wednesday, 2 p.m. eastern. if you can e-mail your questions to invested in you@foxbusiness.com, we might tackle them and read them. in the meantime, we've got 39 minutes before the closing bell rings. gold pulling back by $68. the dow just went negative once

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liz: fox business alert, electric vehicle chatter charging upped today's pop and drop stocks. the apple icar rumor mill is churning faster on unconfirmed reports that tim cook's apple empire might join forces with hyundai to manufacture an electric vehicle and the batteries to go with it. investors are hitting the gas on south korea-based hyundai, rhymes with sunday, up 28%. nice move for hyundai. apple is gaining about half a percent. the tech titan better known as china's google, buy due, also getting a boost on reports that maybe it too could soon produce its own ev. so you got baidu jumping and ga

ga -- geely as well. quite the halo effect the alternative energy stocks including clean energy provider fuel cell. this is a name that one of our favorite traders, scott redler, recommended this past monday. shares surging 35% since scott was here with that name. and since the start of the year, fuel item cell, ticker symbol fcel, i believe, is up 67%. uber hitting a major speed bump, shares getting rocked by news of unregistered block trade. sources now saying that goldman sachs is behind the move putting 38 million shares of the ride-hailing business up for sale at a discounted price. uber is now down about 5% right now, stands the at $53.37 a share. and forget nascar and formula one, draftking joining forces

with, get this, the drone racing league. [laughter] you heard us correctly. you're looking at it on the screen. who knew? but the fantasy sports giant is now the drl's official sports betting partner offering both prerace and live in-race bets. draftkings is closing in on its fourth straight winning session on the deal, up another 4.25% to $51.86. you know, you look at the calendar, it is so hard to believe this was the scene just over a year ago. i was down in miami ahead of super bowl liv which, of course, aired on fox. i watched as wilson made custom footballs made specifically for "the claman countdown," that was really cool. and, you know, all of these companies go to the super bowl because they absolutely love the buzz that their products can get. fox charged last year $5.6 million for a 30-second spot.

those ad slots were gobbled up quicker than a fumble. ads were sold out on november 22nd, a full 72 days before the big game. flip it over to this year though, and we're now just 30 days away from super bowl 55, and viacom's cbs is struggling to match fox's feat. we head to grady trimble outside soldier field in chicago, home of the bears. grady, what's going on with these ads? >> reporter: well, there's just so much uncertainty right now, liz, because of the pandemic. we've seen uncertainty before with sports, and now it's the biggest game of the year, and there are questions whether there might be a covid outbreak among the two teams, and that could postpone the game or even possibly cancel it. there are also questions whether people will watch this year because there won't be as many house parties, people gathering at bars to watch the game, so there are questions of ratings as well. and because of all that, advertisers are a little bit

more hesitant than they were last year and each in previous years. -- even in previous years. here are some of the advertisers that took out big ads last year and will not be doing so this year. facebook, you remember, had its first super bowl ad last year. avocados from mexico, one of the longest running super bowl advertisers in recent history, it's also taking a break from the big game this year. but make no mistake, this is still some of the most costed advertise -- costed advertising -- coveted advertising time in all of television, so a lot of big brands are still signing up despite that big with price tag that you mentioned. just to name a few of them, intuit which owns turbotax and the third one on the screen that i can't remember off the top of my head. but in terms of -- speaking of, speaking of a laugh, we want to air this sound bite too because that's what the focus is going to be this year. >> humor is definitely going to take center stage. like you said, people need a

break. they want some sense of normalcy, and what else is normal than sitting and watching the super bowl and, you know, being entertained. >> reporter: anheuser-busch, how could i forget? they advertise every single year in the super bowl, liz. [laughter] so that's what the advertisers are looking at. it's a lot of money to spend if, so they want to make sure their money is getting them that return on the investment. if they don't have as many eyeballs watching, they're going to be a little more hesitant. they are still expecting it to all sell out like it normally does. liz: yeah. and the big game, of course, bears v. the new orleans saints, that's going on the on sunday in the 4 p.m. eastern time hour, and then my browns. we have news about the browns who were supposed to play, they will play -- at least as of right now -- on sunday night sans the coach. of course, he won't be able to see this first trip to the playoffs for the browns since,

what, 18 years ago, because he tested positive for covid. you now have "usa today" and a whole wunsch of other -- bunch of other organizations calling for the nfl, grady, to change the rules because as of right now he's not even allowed to remotely call the plays. i mean, this is, it's like being a long-suffering browns fan, i mean, does it get any worse for us? but i believe they will beat the steelers. what do you think? >> reporter: i think you have a chance, liz. i mean, there's a lot going on at the last minute here that we didn't expect. i, by the way, am a bucs fan. we haven't made a super bowl experience since to 2010, so i'm rooting for them. liz: schedule is on the screen right now for the playoffs, it's super saturday of course followed by super sunday. you know, the browns have not even practiced, i think, in two and a half weeks due to covid and a couple of players testing positive as well. it's going to be interesting. but i like to believe that baker

mayfield, who's just put out a video called rewrite this story, that he's rested his arm and it'll be stronger than ever. grady, i'll see you later. good luck to the buccaneers or and good luck to my browns. roku making a move from equipment maker to content competitor in 2021. the streaming box giant officially finds short form producer catalog of shows and documents for less than a million bucks. and call it virtual insanity, the biggest tech show on earth experiencing a virtual reality more intense and wild than anything i went through in that samsung virtual real estate ride a few -- reality ride a few years ago. yeah, that's right. consumer electronics show in las vegas will go all virtual, but first on fox business, ceo gary shapiro e is here on how covid

is changing the game for this year's ces. and not changing the game, but exhibiter mary barra of general motors changing the longtime logo of gm. right here is the old one. we're about to reveal the brand new gm logo whose design sends a bold message about the automaker's future course. we're coming right back, don't go away. ♪ ♪ m just wasting time. that's why td ameritrade designed a first-of-its-kind, personalized education center. oh. their award-winning content is tailored to fit your investing goals and interests. and it learns with you, so as you become smarter, so do its recommendations. so it's like my streaming service. well except now you're binge learning. see how you can become a smarter investor with a personalized education from td ameritrade. visit tdameritrade.com/learn ♪

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company have just made news. gm is changing its longtime logo. all right, here's the old one. and now for the big reveal, the new logo. gm telling foxbusiness.com, there it is, that that negative space in the m of gm is meant to evoke a plug as gm moves to generation e for electric vehicles. first on fox business with, the man who landed barra as a keynote, president and ceo gary shapiro. gary, for the last 13 years you and i have been together. this is a very different year, and yet you're still pretty much sold out. tell us about what's happening ahead of monday's big kickoff. >> well, thanks, liz. and this interview shows that ces is going on because it's a tradition. the opening keynote, gm's mary barra, is really showing the future of driving electric vehicles, she's really kicking it off great. and the show is going digital

because that's who we are. we've had the biggest digital transformation this past year of our lives, and we've progressed. but we said the show must go on. our companies wanted us to do it, and we found we could reinvent ces, we could do it in all sorts of different ways. we could connect people, we could extend the show dates for 30 days so people can listen and visit the over 1800 exhibiters we have. and the trends of not only mobility in driving, self-driving cars, but streaming, telehealth and digital sickness, cloud computing and so many others, 5g with amd's lisa sue speaking about it. so many things are happening because of ces, and innovation is going on. we'll be not in vegas, but we'll be global now. we'll reach the whole world. liz: yeah. it is a definite silver lining here. you guys have been able to put this together, but the

bandwidth, i'm sure, is just insane because, you know, you can only have so many people jumping in on this thing regardless. would you have expected, because last year you got, what, about 120,000 people walking through those doors? you know, you have to be registered, but you've got the old names and then the new names, at&t, bmw, sony, panasonic, we've covered all these people, but some of the newer names as it pertains to, i guess, tech in the home and what we have seen with home fitness technology during the pandemic. >> absolutely. you know, during the pandemic the use of home technology for exercise is up 30-35% and 11% of people are using online fitness, according to our research, and 12% are considering it. we're seeing companies out there, we have a few hundred health and fitness companies, digital health companies showing their wares, and we also is have

people, as you say, from around the world that are coming. now, what we've done is we've allowed -- it's still open only to the trade, it's not for consumers, you have to qualify, and we have several thousand -- liz: right. >> and almost half the people that sign up are from outside the united states. so we've opened it up a lot further. and these are the trends we're seeing. everything in the home, whether it's the home office, telehealth, telework, tele-education, this is technology that has made a difference, and technology -- and we're seeing that in the growth. and even the companies themselves, they are taking advantage of the pandemic to say what can we do better to serve our customers, and they're coming up with a lot of things, and they want to show them at ces. liz: mary barra, the ceo of general motors, we already showed the low duo but not to -- logo, but not to mention the fact it's the message she wants to project as we look at what is new in car technology. they would like to see by 2025 about, as i understand it, 30

battery-powered vehicles. and she talks about it as being an inflection point. how important is electric vehicle technology this year compared to previous years? >> well, it's definitely been a major shift in the last year. obviously, some car companies approved the concept and now people want it. it's the new administration, it's the green shift, it's consistent with that. but that's what the world is going to. and we want a cleaner environment for our kids, and we'll probably be back in the paris accord and electrification of vehicles is just part of that. people want them, they're buying them, and i think gm's making a very smart move by shifting quickly to electric. also there's self-driving, and there's a whole new reason for self-driving because of the pandemic. but the pandemic has changed how we do smart cities, how we do resilience, the need for broadband deployment around the country if not the world with, we'll have microsoft's president speaking about that. speaking of microsoft, bandwidth

and our production and even the platforms we're using and the partnership to pull this digital event off is really with microsoft, a longtime ces participant given several years of bill gates keynoting every year. now we have the president of microsoft speaking about broadband globally and other policy things that have to happen for us to move into this great new world of innovation 5g and digital. liz: gary, next year in vegas, that's all i have to say. you and i have kind of grown a little older together over all these years, so we need to be together next year at ces, and let's hope that everybody stays safe and healthy, and good luck with the virtual conference. i will be right there on my laptop watching. thank you so much. gary shapiro. >> thank you, liz. liz: anytime. the peach state giving the big apple some renewed bites in the bond market. charlie's about to break that next. and you may know fox news correspondent jackie-in rick

from her coverage -- jacqui heinrich, but what about her personal climb as a journalist? jacqui started off as an intern for cbs evening news' knorr ya o'donnell. -- norah o'donnell. she had to wake up at the crack of dawn every day, we both got up at 3 a.m. to deliver stories and newspapers to reporters. but in 2018jacqui's always happy -- that's not exactly her sentiment. she joined fox as a national news correspondent reporting on the 2020 election and all things joe biden. you've got to hear jacqui heinrich's incredible story of persistence and determination on my everyone talks to liz podcast on spotify, apple, google. please download it and listen to her story. such a good one. folks, we're at a brand new record high for the dow. we're now up 45 points with just 15 minutes left to trade. it'll be a record for the s&p

and the nasdaq too. let's see if the russell can scratch its way into the green. stay tuned, we're coming right back. ♪ ♪

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market. he pointed me out to an amazing rally in new york state mta bonds, controls the new york city subway system, all the trains. revenue's been very hard hit here in new york due to the lockdowns. in november, according to his charts, bonds -- the mta's 5.17% of 49, that means they retire in 2049, traded in november at 106, they are now trading at 129. that's the price. what we are talking about right now is a massive, massive rally in new york city and new york state bonds. why were they hard hit? new york state and new york city are facing massive budget deficits. there was a republican-controlled congress that was unlikely to provide aid to governor cuomo and mayor de blasio. in one day, you know, that all changed. with the democrats sweeping in

georgia, the feeling thousand and the bet among these traders and investors is that cuomo is going to get -- and de blasio and other states, illinois as well -- are going to get some of the money to handle their budget deficits, leaving the possibility, and it was, you know, it's always a theoretical possibility. it's hard to believe that new york state might default on its muni debt, but this is a pandemic, we're talking upon billions of billions of budget deficits, who knows what could have happened if there was no bailout money promised or projected. the municipal bond market is now projecting bailout money coming to the city and state. i would also look at new york city bonds, they actually did spike as well, the gos, which are less volatile because the new york city gos are backed by the first lien on state tax revenues, a little different structure than the mta bonds which are purely from, i guess, the tolls and the bridges and subway token purchases.

so that's, those bonds are generally much more -- the new york city gos -- much more stable. they also were down and spiked after of the georgia election. so i guess this is an interesting trade in the municipal bond market, and i think it'll extend to illinois, all these hard-hit states. the real question is this: will this money materialize. we have a majority leader, chuck schumer, who's from new york, right? you would think that he would get money to the city and state. but will joe manchin allow it? joe manchin's going to be an important player. he's already talking, he's from west virginia, democratic senator, he's a moderate on many issues, he's already balking at the $2,000, the increase to $2,000 on those stimulus checks to people -- liz: and also, charlie -- >> -- agree to a massive bailout of new york city and new york state, i don't know. but clearly, municipal bond market believes that is the case, and that's why these prices are going up. it's an interesting trade if

you're out there. i get a lot of calls from people about municipal bonds, particularly new york city, because our viewers hold them, you know, for obvious reasons, tax treatments -- liz: right. >> and it's scary stuff. it looks like, based on the fed right now, investors are saying they're going to be okay. but, again, you know, who knows what's going on to go on. liz, i'm sorry, you wanted to get a word in edgewise. i'm sorry i didn't allow you to do that. liz: i am so used to that with you. kidding. they're generally exempt -- the interest is generally exempt from federal taxes. in the meantime, charlie, thank you. happy friday. we are coming right back. folks, we could see four out of five major indices hit all-time records again. ♪ ♪ when a hailstorm hit, he needed his insurance to get it done right, right away. usaa. what you're made of, we're made for. usaa

to listen, is to hear more than what's being said... and offer the answers that make someone feel truly heard. i understand, let's get started call a dell technologies advisor today. liz: rbc capital market admitting two-year long bearish

call on tesla was absolutely wrong after the company stock rallied 1200% over that time. our next guest says even if tesla is up since the first of the year 36%, the crazy returns on company like tesla are based on one underlying assumption that investors are making, ceo national management with 1.8 billion in assets under management joins us now, what is wrong, what is the flawed absorption. >> it is incredible, what's happening a whole new investors that are getting investor education. the crazy returns that we have seen in stocks like this is based on the one slot assumption, an assumption we make over and over again and that assumption is if the tech names rollover there will be a chance to get out and get out of the way before big losses happen. all you have to do is look at

last year in the first quarter of last year, tesla lost as much as 50% and it lost as much as 34% in september. if you sold it at value and one of the downturns you would've missed out on huge gains. looking forward in 2021 now that makes you vulnerable because what happens when the tesla moves down 50% again you will not know if it's a blip or the beginning of the end. people are just vulnerable to these losses. even though tony stark runs the company, price-earnings trailing level of 1235 matters. liz: i know, you have to feel the people need to be cautious with the name zoom were about to hit all-time record for the dow, s&p and nasdaq, are you still heavy on equities? >> our firm is fully invested during rising markets that we

have different hedging mechanisms to the risk if the markets fall, but looking at the markets generally both stocks and bonds are in trouble from our perspective and there's two things that make that case, the first -. connell: we've got to run, there is the bell, phil, records are down except for the russell. see you monday. connell: we can call it come back after all on wall street, stocks reclaiming earlier games at the close, hopes for a stimulus soon to be outweighing the jobs report they came in this morning we have dipped into the red the middle of the trading day there was word from a key democratic senator that we might not get the $2000 stimulus checks then there was back-and-forth and we will sorted out in a moment but as it stands in the close we are higher, the third straight record close, second record in a row for the s&p 500 and for the nasdaq. i want to look at tesla, with a