accurate than a traditional biopsy and reminds me of science is. charles: give me another one. >> pin national heck of a lot better when it was $95 i would buy anytime it's red, sports betting is huge is. charles: stocks you must own before the closing bell one hour away, liz claman is going to take you there. liz: were you in elementary school principal in your previous life? charles: a guy from the fire department checked or smoked apartments and walked to my office and said i reminded him of his principal. that is so funny. [laughter] liz: you like give it to me. breaking news president-elect joe biden is on his way to the nation's capital right now in less than 24 hours he is to be sworn in as a 46 president of

the united states. we expect to see his arrival at joint base andrews in this hour as he prepares for tomorrow's inauguration, billionaire backer bernie swarts is here the business is well underway already on capitol hill confirmation hearing close to half a dozen of biden's nominees are underway but it's biden's pick for treasury secretary who is moving the market. the nasdaq is that session highs right now. we will tell you the one thing that janet yellen said that will heal the economy that is pushing stocks within striking dish distance of new all-time high download industrial 139 s&p better than 32 nasdaq at 193. the paycheck protection program several hours old we have two bankers writing hundreds of checks for billions of dollars, will it be easier or harder for your business to get the money this time plus the one group that is not allowed to get the covid relief coin in the ciampa administration state department

official who took on china is giving up his exit interview, former keith kroc on trump/shot on while we and what are names like intel might be collateral damage. we start with breaking news the two men nominated to protect the nation are making their cases to the senate at this moment the senate armed services committee is taking testimony from general lloyd austin president-elect joe biden's defense secretary nominee. then we biden secretary of state picked tony blinken state interface in the foreign relations committee. investors are hanging on every word of the confirmation hearing for his treasury secretary nominee, former federal reserve chair janet yellen spent hours making her case before the senate banking committee, what we want to do is show you the charts for the dow and s&p and you can throw in the nasdaq, whatever you want. stocks fell at the open but when she began her testimony and the 11:00 a.m. hour, by the weight ended at 1:38 p.m. eastern it

was her top solution she said she named for healing the economy that spurred stocks higher to edward lauren to watch the entirety yellin hearing, she says the country needs to go big, how big, where and how. >> seems the key to opening up the economy. on that front it was very clear she is on board with the progressive policies of the biden administration wants to put forward in her testimony to use the same talking points almost verbatim that we heard from joe biden in recent days, she told the senate finance committee they need to act big because low interest rates make money cheap and she adds that we need to invest now and also invest again for the future. >> i will be focus from day one on providing support to america's workers and to small businesses putting into effect as quickly and efficiently as i

can over time working for a second package that i think we need to get through these dark times. >> a lot of spending, the second package will have infrastructure in it among other spending initiatives from the biden administration paid republicans pushback on the cause of the debt. yellen say the debt will be an issue and we might have to raise taxes to pay for the debt in the future if interest rates rise enough but right now is not a concern. interesting enough even when talking about china yellen says we need to spend more money at home on infrastructure as well as education to outdo china and wait to work with our allies against china. >> we need to take on china's abusive unfair and illegal practices, china is undercutting american companies by dumping products, erecting trade

barriers and giving illegal subsidies to corporations, it is been stealing intellectual property. >> we will wait for allies to the former chairwoman stressed that a lot of spending will happen in the next six months in the hearing the senator says will likely come to the full senate on thursday. back to you liz. liz: edward lawrence, thank you so much, the dow up 137-point from a busy down capitol hill to a jampacked week for earnings reports, fourth-quarter earnings season kicking off with six of the dow 30 reporting along with the third of a financial companies on s&p. goldman sachs profits tale that they more than doubled. then you bank of america, charles schwab, mixed picture and in just about 60 minutes netflix unleashes its numbers but shouldn't investors put aside or not ignore earnings but instead go with the momentum

names, when we talk about momentum that means you cannot stop it were looking at game stock, game stop is hitting a five-year high at this hour another 13% but year over year this is up 645% investors are looking past short-sellers such terms call that the stock will drop to $20 per share to 40 right now another momentum stock that you don't often hear put with momentum general motors, this is an all-time high after announcing a partnership with microsoft as part of the new $2 billion equity investment in the auto giant startup crew, you have gm up 9% hitting $54.51 and big data software palantir that one is also spiking thing to the new partnership with pg&e to improve the safety of california electric grid. that is up for naprosyn, virgin galactic after investment management may add richard branson's space to room to the exploration etf out there but

another 4.5% gain. let me get to her for show traders, make the case, earnings were momentum, ideally are there names that have both that you like right now? >> there are a few out there but i am so afraid of the momo and more importantly the foamer trade out there, foam has never been higher in this market but maybe going all the way back to the bubble in 2000. i think the focus squarely at least in terms for the health of the market needs to be focused on the earnings reports. we birdie seen the banking sector for the most part really good, ones that i'm focusing in on moving forward, unh, uh out and microsoft, that gives us a wide swapped across the economy to seal individual sectors are looking, not just the stockings that we have seen in many of the

stocks but also what can we look forward too, not only during the reopening which is happening soon but even further beyond i am very tepid, standoffish on the momo and bobo names, that's white's important to focus on the big names that can help us to get big look at what may happen in the future. liz: you're not buying microsoft data hi, you want to buy a little bit lower than the high, tell me do you like the momo, i don't know what it was called the momentum stocks versus the ones that come in with the good old great earning solid earnings every time? >> i'm with scott i don't see why we can't look at both. technology these days allow us to do much deeper fundamental analysis with a lot less time than we could ever do before and fundamental should not be 100% of the decision process but they should not be 0. for example gm in gamestop those

are two that have been in our focus for long time the momo was against it for a long time now the momo has termed because of fundamentals have been there. and now we have fundamentals and momo which turns into fomo with that's where you really hit it. otherwise we would stay away and try away with stocks like netflix and tesla palantir that have gotten really, really pricey. the benefit in the fundamentals is momentum and fomo are artificial elevators a price when they run out the stocks can take unless they have good fundamentals, the benefit of having good fundamentals you have a safety backstop if the momentum runs out then you have value and you're not going to send into bankruptcy. liz: we don't like the b word, good to see you guys here's the winners amex, boeing, microsoft, microsoft one of scott's pics.

intel is chipping higher, so for year-to-date as we look at what the big semi conductor giant is doing one of last week's biggest winners. year to date you can see it's not a bad picture at all, it's caught in the crossfire of the trump administration last stand with china. under secretary of state keith kroc to give us his exit interview the final parting shots being hurled that u.s. businesses like intel who do business with chinese companies that have military ties. why he says banning u.s. investors from owning 44 specific chinese stocks makes this country safer, closing bell bringing in 15 minutes we have real action in the final hour, stated were coming back on "the claman countdown". ♪

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opposes it to the united states and there's been real problems and that needs to be dealt with. this is been a good but the top minds in the intelligence committee as well national counterintelligence and security center bill telling fox news exclusively no country prose is about under broader more severe intelligence collection threat to america than china. joining us now the outgoing u.s. under secretary of state for economic growth energy and the environment keith krach. great to see you. you just got a few more hours here were guessing both of those comments resonated with you. the trump administration tough on china the intel license to distribute to while away, is intel the only one in what is at the heart of the move? >> they lifted restriction on low technology with some of the business is going in r&d and if

you look at overall what happened we really clamp down on providing them the technology as well as the financial capital, this is the key part of our national security and for example most americans have no idea that their own money held pension funds, 401ks, brokerage account, financing not only the ccp military but also their surveillance and human rights abuses through an undisclosed opec city raise index funds and financial products. liz: the muslim minority that a been treated absolutely horrific put in mind cleansing caps and things like that. but you talk about how pension funds may be unknowingly invested in some of these names you and your office specifically put together 44 names we can put

them on a scroll to show people but everything from grand china air, check under grand china national aviation, china railway, panda electronics group these are the 44 stocks that were trading that the administration said no, you cannot own these anymore. why, what was it that you specifically found within them that they have to be taken off that includes the three telecoms. >> all these companies are involved with the chinese military there enlisted by the dod we put export controls on companies like this but we have been financing them for years, this is just the lack of continuity and policy, i think we've come a long way and we still have a longer way to go and these are also state companies that enable the surveillance states and enable

human rights abuse. in the national defense authorization act of 1999, it was asked, for whatever reason the united states got around to this year it's given the chinese 20 years to do some what i call for steps the first thing they broker these companies into an un-natural amount of subsidiaries and you would never see this in the normal route underworld hundreds and hundreds and the purpose for that is to disclose, confuse and deceased. and then there buried in the index funds, little bit there a little bit here and then hundreds of products, dcs and in the pension funds. if you're an average american investor you don't know what's in your mutual you don't know what's in your pension fund and it's long overdue.

liz: china is a double edged sword, there are threats there but their businesses publicly traded of stocks our viewers own who understand that they want to protect themselves but they also want to tap the chinese consumer and just conduct commerce, is there a way to continue to do that from where you sit? >> by the way there absolutely is and you gotta be able to walk that line, these companies in particular these 44 companies who also on that fact sheet have about 1200 subsidiaries that we listed, these are companies where were financing the next aircraft we are financing icbm someday will be pointed out the family's homes. we really needed to stop this. and as you know i wrote a letter to all ceos last july 1 and i

went on cavuto live the fourth of july talking about this. and also august 18 to all university governing boards all civil societies, we have given ample warning and really these fund managers need to let their investors and their constituents and customers know about this because they have to divest these companies. liz: we've got a run but i want to quickly ask you china has said they're going to retaliate against the united states for removing these names or failing to allow companies to do business with them you could possibly be on that list eventually and i say that because you became the highest-ranking state department official to visit taiwan since 1979, do you expect to be

sanctioned? >> i radium and i'll wear with honor and i'm not going to react on and i don't think we should been to the china bully. when you confront a bully they back down and there's really backing down if you have your friends by your side and that's why we formed the clean network alliance of democracy and it's been such a success. liz: thank you, good luck and the afterlife, you were the ceo of docusign and it'll be interesting to see what to do. thank you for joining us and good luck. >> thank you so much, i appreciate it. liz: "the claman countdown" is coming back the nasdaq is on track for an all-time record close. don't go away.

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liz: we start with the fox business alert the u.s. coronavirus death toll has topped 400,000, this according to reuters, sometimes these moments that we bring to you move the market in a negative way the number of covid related deaths has bike since christmas totaling 64000 over the last three weeks the total number of cases since the pandemic started also crossed a new mark, 24 million. check the dow, up 129 at the moment this fox business alert roku hitting new record highs, j.p. morgan firing up with the street high price target of $475 it is at $4433. strong position as cord cutting continues into 2021. it looks like somebody over deutsche bank was at "the claman countdown" dv taken on tesla

versus bitcoin just like we did yesterday in a new survey 89% of respondents expect both tight players to see their wings clipped in 2021. bitcoin ends up slightly but so is tesla, what is going on with tesla is getting its engines revved, jeffries raising earnings estimates on elon musk empire ahead of fourth-quarter results which are eight days away tesla is moving higher by 1.7% plus this is the first day that the stock gets to trade on the news that tesla's very first made in china has hit the street. the third time not a charm for staples office supply retailer rejected again by office depot after staples made the third attempt by the rival the $2 billion or $40.000000000 share oft or soundly and officially snubbed staples had made overtures to office depot 1996 and again, in 2016.

t minus about 21 hours before joe biden takes office as the next president of the united states and despite the prospect of higher taxes goldman sachs raising the growth forecast after biden unveiled the $1.9 trillion stimulus plan the soon-to-be president has pledged to raise the corporate tax rate from 21% - 28% hitting those that make $400,000 or higher with an increased tax level and taxing capital gains. that brings up this question will the biden administration be good for business? will business fear biden, democratic mega donor of bls investment bernard schwartz back with us in a fox business exclusive, bernie great to have you, happy new year you back joe biden a couple of years ago when it did not look like he was really going to have a chance and sure enough he has one, tell

business why they should not be afraid of higher taxes that joe biden may bring. >> first of all it is nice to see you again. and thank you to be here. and to answer your question, why should business come from abiding the administration, is that what your question is? liz: exactly, you got it. for a lot of reasons, first of all biden is bringing in and what he saying he is president of all the people and is going to represent both parties, democrat and republican and he will reach out to the republicans so they have a unified program of going forward. secondly i think biden much more then trump, god knows what trump strategies were they change every day but biden is a

pro-business person, he has been there for a long time, 40 years in the government. he's worked with ceos and union people. he knows what government is all about. he knows when things are going bad and things are going very bad economically in this country. and i think it is a recognition he has to get not just the $1.9 trillion considered by the time that is very good but we have to have an age with cities so they continue to do their work. we have to have help to companies who have lost payrolls. we have to help them. liz: let the people know you ran for more than three decades morale sprays into space and deck into communication to know

what it means to be a ceo pay corporate taxes. at some point when we look at the debt that has risen in the spending and attracted before the pandemic, president trump spent -- republican say like a drunken sailor and i was wondered about the analogy drunken sailors don't have a lot of money but looking at this you have to tell us what a higher corporate tax rate he is not proposing to bring it back up to 35% where was he says 28% can business absorb that effectively and still hire people? >> i think so. and i think so for good reasons. in the past when they were at that rate they were able to expand and grow, the important thing is there should be a fairness in our tax rate for all people. a fairness in economic organization that help all people. and we have to constantly rearrange the knobs on that

machine to make sure that all people are treated fairly. but to answer your question, may i make one comment about this. if i go to the bank and i say to the bank i want to borrow $2 trillion what is the first thing they will say to me how much assets you have to cover the $2 trillion. weirdly know what the asset value of the united states is but we can afford a lot more -- one other thing i would like to make take infrastructure for example if we borrow money to invest in infrastructure, to an investment in infrastructure. most of those infrastructures programs are going to repay us in the bridge finished paying off and in 1944 and since that

time this government has been getting assets from the bridge. liz: infrastructure definitely pays off, let me finish with this you are a world war ii veteran, thank you for your service first of all there aren't many around and we are thrilled you're here and respect and appreciate you. where do you think defense spending goes president biden. >> i think it will go up and i think one of the things that is happening you cut things from the defense department which were inappropriate, i think we have to help our allies instead of cupping them off we have to extend out to them, help so they can have a defense force, coordinate hours. liz: okay, so good to see you. bernard schwartz, the former

chairman of the row spacing communication and abiding backer. we appreciate your perspective. "the claman countdown" is coming right back with our ppp power panel checks for businesses round two. ♪ nce to get it done right, right away. usaa. what you're made of, we're made for. usaa there are many names for enthusiast. but there's only one way to become one... by going all in. the new lexus is. with a lower center of gravity, a more responsive suspension, and an aggressive wider stance. this is what we call going all in on the sport sedan. lease the 2021 is 300 for $359 a month for 39 months. experience amazing at your lexus dealer.

liz: business is hanging by a thread lining up by the thousands of banks across the u.s. for round two for the paycheck protection program that kicked off today, 284 billion in new funding will begin to flow through the financial veins of small businesses and other institutions, that is a critical distances time around some businesses can go for a second round even if they got ppp money last year but others, no more, they're not allowed, let's get right to the ceo bankers in the thick of it they are the ones facilitating the transfer of money from the government as

financial lifelines to these businesses from texas chairman ceo phil green in savings bank cheryl bowers in upstate new york, cheryl's bank is small and we have trust bank which is bigger, in the first round you help small businesses get about $3.4 billion in ppp loans, what you expect this time around. >> we expected demand but first of all thank you for having me we have seen really strong demand in the 30 minutes we did 1000 applications in the whole process we tried before we had 19000 businesses that we helped over the entire period of ppp loans for us to have 1000 applications of first 30 minutes was surprising, in fact it was so surprising that her carrier felt it might be distributed to

service attack and the pipes to get to it, that is a surprising volume that you see. liz: sure what have you seen, i know you guys really went into it yet about 500 customers, 40 million in loans, what you seen today, phil saying wait a minute the first 30 minutes, huge demand. >> a little bit different, the frantic craving is not happening we have a couple hundred customers teed up and were working to pursuit so honestly it's been a lot more organized and frantic, certain customers it is their lifeblood like the restaurant tours in the catering facilities, we have a lot of here in the hudson valley and at the bloodline again and they are frantically trying to get the money. let's talk about the criteria. enter. people need to know the first time borrower criteria, get in

line you have to know this is important because you have to have 500 or fewer employees, you have to been operational and business last year february 15 and sole proprietorship's must show profit on 2019 tax returns, you don't want to be a lot of business that was dying before the crisis. do people understand that, is the message out? >> i think the message must be out because the tremendous volume that we sought early on with the new criteria with 300 less employees are eligible you have to have a 25% over quarter for one of the quarters in 2020 versus 2019 you have a limitation on the amount of the loans, those criteria are different but i think it's pretty well known and through

our review process will be able to weed out those who really are not eligible. to me it is interesting with this early volume it tells me a lot of businesses were hurting and they really needed this lifeline, if i was hospitality business in a restaurant owner this is a lifeline to me and they're going for. liz: you guys are doing important work, here is the one thing people got outraged last time around the billion dollar companies got to get in line sometimes jump ahead and get up to $10 million, a lot of help sometimes even more than that this time around use all the criteria no publicly traded companies can get in line for the money now we are looking on the screen shake shack, potbelly, they got money it is gotta be fair they can go to the capital markets and borrow small businesses, cannot.

>> i could not agree anymore with you on what you just said this is really designed for the backbone of this economy the mom and the pop and the main street businesses not the wall street businesses, i believe i'm cost socially optimistic that the longer bedding. in a little bit longer time to go through the application will weed out some of the fraud that we saw the last time and certainly the more mom-and-pop's and main street that can be given this bloodline the better we will all be it's been a tough year for many businesses. liz: i know they gave back about 20 million get it but you cannot be doing if you're this big, both of you, thank you, get back to the people in line i know you're extraordinarily busy, we appreciate you as bankers for the small and medium and larger size communities. thank you so much.

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liz: bank executives might breathe a sigh of relief, goldman sachs bigwig prepared to step in as exchange commissioner and the biden of administration. charlie gasparino uncovering details about his agenda. what are you hearing? >> i hear he's going to be less wall street focused, wall street has a ton of regulations and literally not that much you can do on wall street.

he is going to have a pretty aggressive trend agenda for corporate america and some of the details are leaking out these are my sources of wall street, democrats have access to the biden campaign and as you know biden heavily vetted with gary chancellor he was in the running for a while along with a former u.s. attorney for the seventh district, gary was the guy that they picked, longtime regulator former wall street executive that worked at goldman sachs, no quantity on wall street, they're not too worried about him on wall street, very heavily regulated they do think he could to be aggressive, he's going to be aggressive from what i understand that on corporate governance issues and issues like camping contributions what i'm hearing, it is clearly that he is could come back and endorse a proposal meeting she was pushing during the obama administration essentially to get corporations to disclose publicly and make an sec

requirement to disclose all their political contributions even to political action committees and all of that, committees essentially do disclose some of that to make it a more broader disclosure, you could see him pushing for stuff on the environment and more environmentally cognizant, these are the broad sweeping things that you may do to essentially as a biden administration as sec chair, and specific issues wearing hearing where you can see decent a heavy emphasis is on crackdown on crypto currency, nothing really new here. one interesting the special-purpose acquisition corporation which some people believe are right for insider trading, if a corporation is about to buy a company and it leaks out there, do people start buying this in anticipation of that? interesting to note, i noticed

churchill capital came out with the disclosure statement put out a press release that said there is rumors out there that it was thinking about making several purchases and it can't confirm any of the rumors and it put out a weirdly oddly worded statement today and they put it out right after the price of the churchil and is gone up dramatically, so my 50% in recent days over speculation and it was going to bite a company called lucid which is an electronic company carmaker. this is very fascinating, some not saying there's insider-trading or churchill did anything wrong i'm just telling you they put out a statement obviously people are talking about who had the leak whether they might buy the company and the stock went up dramatically.

in some people say it's a fad or craze or is here forever, whatever it's going to get regulatory attention from gary and with the other broader sweeping proposals and again, look at the stock of churchill capital in recent days, it just went nuts on this potential purchase a story by bloomberg that was thinking about that and that is gary, longtime fixture, banks are not so worried but maybe some other people should be. back to you. liz: he is no pushover but knowing the regulation and what banks are facing right now, he does get it, thank you. >> one more thing, condolences for what happened this weekend. liz: the browns, i cried.

>> i was rooting, i thought he played a great game. liz: he did that's why i'm not upset. next year, super bowl , thank you charlie, countdown class back in session today's closure for the top tips, get it, tips for portfolio that is profitable. were gonna teach about tips treasury inflation protected securities, we are committed back at eight minutes, dow was up 130. don't go away. ♪ . .

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investors getting ready to bing on netflix fourth quarter results. to cheryl casone. give us a preview. reporter: there you go, okay. we have the queen's gambit out, "the crown," a lot of buzz. expectations are pretty high after the bell. buck 39 with revenue of 6.63 billion. again the stock is moving higher as we move into the earnings coming out in just a few moments. right now up 2 1/2%. netflix kicking off megacap tech sector. eyes laser focused on sub desirer growth every quarter. analysts expect 6.1 million new subscribers. covid behavior, pandemic and more original content should have helped netflix add more users. canaccord analyst expects 6.3

net subscribers that is the on the high-end. dramas, remain the most popular drama due to the success of the "the queen's gambit" and "the crown." streaming wars underway, disney plus, amazon prime, the news paramount plus is launching. all factors, at this point if you own shares of netflix. we'll see what comes out. liz: cobra kai, girlfriend. it is a dramody. cobra kaj is so retro. i love it. according to bank of america, assets like income and inflation protected bonds also known as tips are outperforming deflation assets by the most since, you have to go all the way back to 2006. take it to "countdown" class. playing professor, john burke, burke financial strategies, will

explain how they work, how much they pay out and why you're all in. tell us how tips work. >> hi, there, liz. there are other signs inflation is picking up as well with energy and materials sectors leading the way. those are inflation beneficiaries. so tips, treasury invested protected securities they're guaranteed by the government but they're different from normal treasurys that the interest paid on these things is near zero, some cases negative. so the money you make on these things comes from the second aspect which is that the principle of value of the bond increases with the value of inflation which is measured by cpi which about 10 days ago came out at 1.4%. so if that goes higher, you stand to benefit. liz: and the way to do it, you can get in by going into the etf of tip. it is great to see you, john burke. happy new year. you're a good friend of the

show. we really appreciate it. we'll have you back. all right, folks, as we look at the dow it is pulling slightly back. [closing bell rings] remember for the s&p you have 30 and the nasdaq is it a record in too close to call. nasdaq up 199. needs to be up 203 once things settle. i will send it over to connell mcshane for. connell: liz, it is president trump's final full day in office. we will hear some of his remarks to the american people. they have been recorded. the white house plans to release them and we'll play them for you as soon as it happens. that comes as the president-elect joe biden arrives here in washington. he will be sworn in as the 46th president of the united states that will happen less than 24 hours from now. at the close of the stock market we have gains on the screen. stocks have b