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tv   The Claman Countdown  FOX Business  January 22, 2021 3:00pm-4:00pm EST

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we've got more cases, so not enough data yet to really concern the markets but of course, with markets being as overbought as they are -- charles: we got to leave it there. we got to leave it there. thank you very much. always appreciate it. i know you'd go on forever, me too but i got to hand it over to my buddy, ashley webster in for liz claman and, ashley, we got a little bit of cp effect i'm not sure if you're familiar with it when the market rallies on my hour and then it's up to the 3:00 hour to take it to the finish line. ashley: [laughter] i'm a full believer in the cp effect, charles. it's just the aw i'm not too sure about but we'll do our best charles have a great weekend, sir. thank you, charles. charles: you too. ashley: with that said, the dow and s&p in the red as the nasdac tries to shake off the aftershocks of ibm and intel 's disappointing quarterly results. this , as president biden, lays out new executive orders to help
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rescue the economy from the pandemic. blake burman standing by live at the white house with everything you need to know. the president getting some big assists in his push for 100 million vaccinations in his first 100 days from two surprising sources. retail giants walmart and amazon , mike levitt, former health and human services secretary under president george w. bush will tell us if big business is the key to solving the covid crisis. covid vaccines are needed more now than ever. british prime minister boris johnson now warning that the uk covid variant may be more deadly and not just more contagious than the original strain. we'll get into that as well, and airline stocks sinking on that headline, but we've got the market maven saying don't count these hard hit names out just yet and guess what? bitcoin looking to end a tumultuous week on a high note. as you can see , up nearly
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$3,000 in the final hour of trade, but could incoming treasury secretary janet yellen expected to be fully confirmed this afternoon be the black swan no one saw coming in the crypto sphere. we'll have all of that and so much more, but first, a fox business alert. it is day three now of the biden presidency. the president, any minute, set to layout new executive orders that he says will keep the u.s. economy right on track. let's get to the white house where we find blake burman, following its second with all of the latest details, blake? reporter: hi there, ashley. the previous administration as you know had been making the argument we were in the middle of a v-shaped recovery a soaring stock market, record highs, 401 (k) and the like. the reason why i bring that up is because the biden administration is saying right now that we are in a "precarious moment" for this economic recovery. for example, they are pointing to much different numbers saying that right now, more than
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10 million americans are unemployed, 14 million renters are behind on their payments, 29 million adults and at least 8 million of their children are struggling with food and securities, so today and just a few moments from now we'll hear from president biden and watch him sign two executive orders that will, in fact, for example, ask the usda to consider issuing new guidance that allows states to increase snap emergency allotments for those who need it the most. the president will ask the department of treasury to improve upon the delivery of those direct payments. the executive orders will also begin the process of giving federal contracts only to those who pay their employees a $15 minimum wage, and it will ask the department of office and personal management to develop recommendations to pay more federal employees, at least $15 per hour. earlier today, we heard from the new top white house economic advisor, that right there, is brian deese and he laid out the administration's view on where the economy stands and why all of this is needed.
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listen. >> it's a moment that requires decisive action to beat this pandemic and support the economic recovery that american families need. reporter: by the way on the other end of pennsylvania avenue, and in a much-different topic we now know that the article of impeachment that the house has passed against the former president will be delivered to the senate on monday. ashley, that means the senate will have to take up a trial against former president trump, potentially as early as tuesday. ashley? ashley: yeah, so apparently they are not going to wait. all right, blake burman at the white house, blake thank you very much. as the biden administration looks to ramp up covid-19 vaccine production, the impact of the virus on the economy of course continues to grow. over 410,000 americans have now lost their lives with positive cases rising to well over 24 million closing in on
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25 million, and now, retail giants amazon and walmart are stepping up. walmart expanding its vaccination rollout into seven more states as well as chicago and puerto rico. amazon is set to open a vaccine pop-up site at the company's seattle headquarters this sunday now, joining us first off former utah governor and secretary of health and human services under george w. bush, michael levitt. mike, so much, well governor mike, i guess i should call you. governor, thank you so much for joining us. do you think, and i recognize your face from all the way back then, do you think the president 's goal, president biden's goal of 100 million doses in 100 days is realistic? >> it is, but we need to have all hands-on deck. the expansion of the private sector, the use of every public
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assets, this needs to be a war time effort but it can be done. ashley: do you support the private sector like as i was just reporting, we got amazon, we got walmart, i know the publix supermarket chain in the florida in the south has been very successful in setting up appointments and getting people vaccinated and running very smoothly. how critical is that? >> we learned when we did pandemic planning clear back in 2006 and 2007 that in order to get this kind of response, you have to deploy all assets. you have to call on the private sector who already have assets in place. you have to use public assets. this is a robust response required if we're going to achieve the president's goal. ashley: you know, we hear a lot of reports that many more doses are being delivered than have been given, up to perhaps 50% of these vaccinations are still stuck in the freezer. how much is bureaucracy blamed
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for that? is it because states are kind of having to make up their own rules as opposed to everybody living under one dictate? >> i think it's a learning process. any time you do something this large, you're going to get better as you go, and you'll get better because you will, we will learn iteratively and improve. i had this experience but first, a month is almost always full of learning. the second month gets more efficient. the third month more efficient than that. ashley: so we hear a lot about h erd immunity, governor. the point where it's impossible for the virus to spread, because we have enough people who are vaccinated against it. in your mind, how long is it going to take for us to get to that point? >> we're a ways away, but every time someone's vaccinated we get closer. we'll need to get into the 80,
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85, 90% before that occurs and we're a ways away but i believe we'll begin to see normal it even below that period or that point. ashley: when you say a ways away , are we talking about into the summer or perhaps, you know , beginning into the fall? what do you think? >> well, we all, i believe, from my standpoint, it's going to be late summer, early fall. how about that? ashley: okay, i'll take that. also, you know, operation warp speed, it's incredible how quickly people were able to get together and come up with several different vaccines with more on the horizon. how much of a miracle was that to have something from beginning -to-end take about nine -to-10 months? >> when the history of this decade is written that will be among the top two or three scientific achievements, and we should recognize what a remarkable feet it is.
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ashley: yeah, it really is. have you had your vaccination, governor? >> every morning, i get up and look at the website and find out when i can get it but not yet, but i'll be there the moment i'm eligible. ashley: yeah, that's what i'm hearing from everybody. you just have to sit on your computer or laptop, whatever, and just wait and hope you win the lottery. we're also getting stories though of certain clinics or those people who have the vaccine randomly picking people and saying look, we've had, we've already opened the dose, the bottle, if you like, and we're going to have to throw it away and we don't want to do that, so there are lots of stories of people 20 years old, 30 years old, who happen to be standing in the right place at the right time, and they're given a vaccination because these caregivers would rather have someone get it than throw it in the trash, which is what we've seen in new york. >> we should be doing just as
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you described. the reality is, one of the learning that will come from this , and i've participated in this , for nobel reasons, we said let's give it to those who are in the greatest need first, so we went through the process of giving it to caregivers and then to teachers and then to first responders. the problem was, or is, that the logistics of sorting through that slows it down and if we have manufacturing capacity, we have to turn up the knob and get the doses in arms. ashley: wow, we'll have to leave it right there but governor mike leavitt, thank you so much for joining us and we wish you good luck in your attempt to get a date for your vaccination. thank you so much we appreciate it. >> i'll get it. ashley: i know you will. by the way we have this fox business alert for you. president joe biden just delivering remarks in the state dining room on his administration' response to the economic crisis. the president saying we need to
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act decisively and boldly and help americans seeing paychecks that have been reduced, just seconds ago as you can see there , live, president biden addressing the economic crisis. okay, now, we have this. big tech giveth and guess what, taketh away. intel and ibm dragging on stocks as the market gears up for some of the biggest big tech reports of all, the trades that you need to be making right now, ahead of apple and tesla, look under the hood. closing bell ringing in about what, 48 minutes or thereabouts , the dow down 125 we'll try and turn that around. the "claman countdown" is coming right back. my retirement plan with voya keeps me moving forward. they guide me with achievable steps that give me confidence. this is my granddaughter... she's cute like her grandpa.
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intel down 8.5%. let's bring in our traders, phil flynn, and gentlemen thank you both on this friday afternoon. john, let me begin with you. how do investors position themselves for next week when we get the big tech earnings kicking off, what's your thoughts? >> yeah, good afternoon, ashley thanks for having me on. historically earnings we've seen the tech sector get a little boost when leading earnings and at earnings expectation time. we're starting to see that a little bit now with the nasdac trading at the all-time high and tech has been lagging and final ly starting to catch up so i don't think that's something we should keep our eyes on but additionally the outlook moving forward what are we going to hear from these tech companies across the globe, every sector has been impacted by covid virus and the ramifications of that, so what do we see with that? how does that play out? i think the outlook there is going to be interesting and in addition, one major topic that
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we're talking about exactly a year ago was the u.s. china relations. now, fast forward a year later, we're still back at this turmoil here. that headline was pushed down, will come back up again but the tech sector is the one that always had some sort of adverse reaction to that, so i would keep those headlines in mind when looking at the tech sector. ashley: good stuff, guidance of course always important, but especially now. phil flynn, the markets i feel like are pausing right now, certainly a lot to digest because the markets have had a lot to digest for a while now but now we're in the new year and the new administration is in the white house. where do we go from here, broadly speaking? do you think, phil, we've had a number of so-called experts and their point of view saying we are due for a connection and it be healthy. what are your thoughts? >> you know, i think whenever your at record high and you get a correction it's usually healthy but in the short-term, if we're looking at tech for next week, i think it's
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going to be great. i think ibm and intel, they were aborations in the tech sector right now and intel had basically the hack, and you know , so iowa look beyond that, but from the larger perspective from the question you asked me, ashley, it's a very important question because i do think these policies are going to make a difference that we're hearing about, whether it be more regulation on the industry, the talk of higher taxes, that could slow the momentum later in the year. we're already seeing a slew of executive orders that at least in the short-term reduces gross domestic product, i'm talking about the cancellation of the keystone pipeline, i'm talking about the drilling moratorium. those are jobs that would have been there, that are not going to be there, and they have to make up for those , and, you know, in the short-term, other than stimulus, they have no real plan for making up for those jobs in the short-term , that means a little bit of a drag and i think that's going to show up in the
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numbers later in the year. ashley: gentlemen it was short but sweet. we thank you for your input, thank you very much, john and phil. >> thank you. ashley: on this friday afternoon , happy weekend to you guys. listen, look, glamping not going out of fashion as covid shuts down popular vacation destinations. how about getting behind the wheel of one of those big boys? fox business hospitals on the r v boom next, and by the way the closing bell rings in just about 41 minutes.
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ashley: all right, we have this fox business alert for you, president joe biden now signing new executive orders on the economy moments ago he said there is nothing we can do, he said, to change the tragically of the pandemic in the next several months. not very positive so the dow has not taken a big downward move on
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those comments, but president biden going on to say we need to act like we're in a national emergency. the president also saying we have a moral responsibility and economic imperative to end the suffering for american families. that was just seconds ago at the white house. another fox business alert for you. covid taking aim at the movie industry once again, that in today's pop stocks. the latest james bond film, "no time to die" apparently has no time to screen. it has been delayed once again. initially slated to be released last april, the latest 007 film will now hit theaters october 8 now. sony also announcing it is delaying its latest ghostbuster film until november 11, and amc initially dropping on the news but now as you can see , up 20% that's $0.59 at 3.57 for amc. now to gamestop, shares of the video game retailer
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skyrocketing. look at this , up 41%, has been halted several times throughout the day because of the volatility in the stock. it appears that retail investors are piling into the stock to pushback against short sellers following citron's andrew left highlighting five reasons the stock will fall to $20 per share. it is the most shorted stock on the stock exchange and you've got all of the short coverings as well as people dive into cover those bets. ev giant neo being called the parent in china's ev world by nomura, the firm initiated coverage on the stock with a buy rating and $8.30 price target. that's good news for the stock up today nearly 6% at 61.78. and nio not the only one getting praised, deutsche bank issuing a buy rating on another chinese maker, and it's not for
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its ev sales but rather for the companies advancing autonomous vehicle technology. the shares today up 4% at 56.47. okay, how about this for a trend a retro trend that is for the future, rv rentals booming during the pandemic offering a way to vacation more safely. you see more of the country when you're in one of these bigger rv's. grady trimble is at ric's rv center in joliet, illinois. i'm all packed and ready to go, where we headed, grady? reporter: i think we're staying put today, ash, but these things , they're not autonomous yet but you could pack them up and go on a nice vacation and like you said you can do it in a socially distanced way, and they have experienced a boom during the pandemic because of that. people have still wanted to travel, but they want to do it safely. so conveniently, we have jeff pe lon with rick's rv, and
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you've noticed a trend in the demographic of rv buyers going down in recent months? >> yes, we have seen a number of younger families, younger people coming into our business. reporter: and this is something that is a pretty big investment. some of the , you know, smaller models you have are around 30,000 which is still quite a bit of money, so you're expect ing this trend to continue people are investing in this now for long after the pandemic. >> yes. i do believe that people are doing this and once they get into camping and realize how much fun it is and how they can, you know, you do what you want when you want, where you want, and it's all socially distanced and there's nothing like smores every night. reporter: by the way, ash, they were mentioning they've had a lot of customers coming to buy an rv, because they can work from home, kids can do their school from inside the rv, so they can pretty much be anywhere in the country, while working,
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which is obviously a welcome change for a lot of families who want to hit the road in an rv, and we should also mention outdoorsy which is essentially the airbnb of rv rentals they say they are on track to hit $1 billion in sales next month, so it's not just purchases, it's also rentals. people are itching to get out and they want to do it in a safe way. ashley: they certainly do, it's cabin fever and i liked your suggestion earlier, today, grady we could put a studio in there and we could have you reporting from anywhere in the country. wherein the heck is grady trimble. yes, i love the idea. grady trimble, great stuff as always thank you very much. let's move on here, bitcoin riding in the express lane over the past year, but could crypto critic janet yellen hit the brakes on bitcoin's bull coin, coin shares chief strategy officer with nearly $3 billion in digital assets under management, she's going to tell us hooshes positioning for the
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road ahead, the closing bell ringing in just over half an hour, as you can see the dow, s&p, and nasdac, the dow is off still 100 points, 105, but look at the nasdac, coming up, up a tenth of a percent, we'll be right back.
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ashley: janet yellen is inching closer to becoming the nation's first female treasury secretary as a full senate vote is expected some time this afternoon, but bitcoin went into a tailspin after yellen suggested curtailing cryptocurrency during her confirmation hearing earlier this week. joining us now with a look at how tight regulations could actually impact the currency, is the very own christina partsinevelos. reporter: hi, ashley. the bitcoin is surging 300% just in the past 12 months or so
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it's no wonder everyone from my mother to the doorman are bringing up cryptocurrencies but now, there are concerns about new regulations that could potentially slow down the rally so you mentioned janet yellen being picked for the treasury secretary and yellen, in the past, has actually said she's "not a fan of crypto" and most recently, she did say she wants to curtail cryptocurrency because of its use in illegal financing and financing terrorists as well, but regulation may not be bad news. some even say that it could help cryptocurrencies go mainstream. >> you take into account, you can always use it for good or for bad, and the hand of a surgeon can save a life and the hand of a lunatic can take your life and it's how we regulate it and how we control the parameters under which you can use this technology. reporter: but others say regulations don't always work.
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>> the cryptocurrency is because as we can see , even in countries where it is strictly for bed in people are still using cryptocurrencies. reporter: there's still a lot of volatility on the markets, very recently, about $1 trillion as wiped off of bitcoin in just two days but despite that volatility, you're still getting institutional asset managers giving their vote of approval most recently blackrock exposing two of its funds to bitcoin futures, and so despite janet yellen's disdan ex for crypto, it's the sec that will be more or deregulations will be more dependent on the sec and president biden's pick for sec chairman is gary gensler, and gary gensler is known to be a crypto expert so that decision was hailed by crypto investors as great news for the space.
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ash? ashley: interesting stuff, thank you very much, christina. appreciate that. well, with that in mind, coin shares is a digital asset investment firm with a $2.9 billion under management, and the chief strategy officer,m elton demires helps them navigate the digital asset echosystem and we're lucky enough she's joining us this afternoon. thank you so much for being here let's pick up on what kristina was just saying about regulation. okay janet yellen may be more skeptical about bitcoin, but it is the sec who will perhaps lead the way when it comes to regulation. does that concern you that something that investors like, because it's not as regulated, could indeed, become just that? >> sure, let's first delve into where bitcoins are in terms of regulation and market structure and 2.9 billion in assets under management, in the form of
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regulated publicly-listed exchange-traded products that trade on the public market in europe. in the u.s. , the crypto market is well, yes people can buy crypto and bitcoins through apps like robinhood or square cash app or even apps like coin base which has an ipo planned later this year but there's also a lot of activity happening on the cm e, which is a regulated trading venue and there's a lot of activity that's shifting from crypto native trading platforms to now more regulated traditional market venues, and in fact, that blackrock announcement that was mentioned, blackrock of 9 trillion in assets under management, the world's largest asset manager, they're not trading bitcoin on a crypto exchange, they are trading bitcoin using the cme futures contract which has been around since 2017 over seen by the cftc, so really what we're looking at here is the bifurcation, when we look at the market structure around bitcoin it's becoming more institutional. it's being integrated into the
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legacy financial system, and it is being accessed through regulated venues that are regulated by the cftc. now, when it comes to non- bitcoin cryptsings things that are not bitcoin there's still clarity that needs established by the sec but the sec has in fact made it clear bitcoin as an asset is not a security, and therefore, bitcoin itself does not fall under the perview of the sec. now, if we wanted to see bitcoin etf introduced that certainly does fall under the perview of the sec and i know many of us, including my firm coin shares, are optimistic that under mr. gensler's leadership, who i've had the privilege of working with and testifying with in congress about cryptocurrencies, will be a positive shift in that direction. it's great for investors. it's great for institutions and great in helping merge what's happening in the bitcoin echosystem into our legacy capital markets. ashley: why is it so great? if i want to get some money out,
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i'll just go to an atm. i can't do that, can i, with bitcoin so really it's all based on how would you answer those people who say well it's great and all, but it's just telling me on my computer i have this amount but i can't physically touch it. >> well, look. at the end of the day, right? if you own a share of tesla, which tesla has sky rocketed over 700% in the last year, you have a similar experience, and the great thing about bitcoin is there are a lot of different experiences you can have. there are people who choose to buy their bitcoin and hold it themselves and that option exists. bitcoin is a very liquid market. we see billions of dollars in spot-traded volume, derivative volume is skyrocketing as well. bitcoin markets, unlike traditional markets, trade 24/7, 365 so it's a very deep, very liquid, very orderly market that's been established for people who are looking for exposure to bitcoin, there are a number of different ways for them to get exposure whether that's through regulated products in a regulated venue or crypto native app or venue,
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and so again, really the point here is there are a variety of different options for different people's preferences. at the end of the day though, our view at coin shares is in order for bitcoin to continue its advent as an asset class, which we certainly believe bitcoin is an asset class and will be a dominant asset class in the years to come, we need to make it accessible to regulated traditional institutions. already we have corporate and micro strategies, and mass mutual buying bitcoin to put on their balance sheets and we expect to see more of that so we will need people who can access bitcoin through regulated venues but certainly, this year, sentiment has shifted tremendously. we have the world's largest investment firms all paying attention to bitcoin. they want to buy products. ashley: i'm running out of time. i hate to slow you down. >> sure. ashley: you're doing great but i wanted to get this one question in and you've got five seconds. do you get paid in bitcoin at
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your company? >> i get paid in dollars, but i use to buy bitcoins. [laughter] ashley: oh, very good. thank you so much for taking the time to join us today. still not sure if i understand it completely, but you did help with quite a few of the issues i have. all right, thank you so much, really appreciate it. coming up a story to make you feel good this friday. the super gift that the nfl is giving to frontline workers. meantime, let's take a look at the dow, it was down triple digits and now we're coming back a little bit, 94 we're down on the dow, the nasdac hitting a fresh all-time high, just moment s ago. the "claman countdown" is coming right back.
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ashley: we are now about two weeks away from super bowl lv in tampa bay deraymond james stadium and the nfl just announcing that 22000 fans will be attending the big game this year. of those 7,500 vaccinated healthcare workers will receive free tickets from the nfl as a nice gesture. according to ticket iq, secondary market ticket prices for the game range from 7,695 all the way up to 38,000. that's the second-most expensive since 2010. ouch. all right, president trump back in florida. maybe he's going to the game i don't know but the former first family is not planning a vacation any time soon, apparently. charlie gasparino joins us now with the details on what's next for the trump organization.
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charlie: eric and don jr. run the organization and it's unclear if he's going to go back to a full time role in running it and this is what eric told us fascinating stuff. basically, they're trying to figure out how to grow the business, not shrink it, despite all the reports you're hearing. we asked about the hotels, which has been lots of speculation they would have to sell the dor al in florida, in miami, big hotel, beautiful hotel, and the trump d.c. hotel another very beautiful space. no plans to sell either hotels now that eric says, but possibly , the d.c. hotel in the future and the reason for that is pretty obvious, as you know, d.c. is on largely a lockdown 25% indoor capacity,
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and that is what eric said is that maybe in the cards in the future, selling the d.c. hotel. we asked him if he has a broker doing that right now, he said no , but apparently, that could be in the cards in the future. he did sidestep questions about the media business, because we had this one, from pretty good sources, that there is talk within the trump organization and i don't know how whether it's more than just talk, about doing something like a social media venture to rival twitter. as you know, twitter has suspended permanently donald trump's account. there's all sorts of stuff from social media that has suspended other conservative social media platforms like parler. we understand that the trump adminitration, the trump organization, it's going to be hard not to say the trump adminitration after four years,
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the trump organization is looking at some sort of twitter- like competitor. how that all works, i can't tell you, but you know, here is the thinking internally, as i've been told. 75 million people voted for the president, clearly, millions of people want to listen to him, millions of people like his policies, and they can leverage something out of that from a business perspective, so that's why they're talking about a social media platform and maybe, as you know, its been widely-reported him thinking of doing a media platform. again can't tell you the feasibility of all of this. where is he going to raise money obviously after the capitol hill riots and his speech, a lot of bankers have backed away from him, but if you listen to eric, just so you know, what he said to lidia, they are not facing the massive problems that the press are suggesting that they don't have a lot of debt, they don't have cash flow issues i mean, listen. i don't have his books in front of me.
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it's a privately-held company, i'm just telling you what he's telling us and the plan is to grow the business, not cut back, although selling the d.c. hotel is clearly, as he put it, in the cards at some point, could happen. ashley, back to you. ashley: but you know, charlie, yeah, charlie, you touched on it , but the prospect of trump tv got a lot of headlines in the last month or so. is that a real possibility or is that just bravado? charlie: i think it was a real possibility before what happened with the d.c. riots. i think it's going to be hard for him to raise money now for something that is that ambitious. obviously, the advertisers will shy away from it, but you know, he does have a lot of followers. people that want to hear what he has to say. that can be leveraged somehow. i'm not exactly sure how. i don't know if they're exactly
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sure how but based on what eric was telling us, which was a fascinating interview and we'll probably write it up for fox business.com, you know, it's all systems go. they think they have some running room here. again, you know, that running room sometimes runs into the reality of can't find bankers, you have some cash flow issue, although i will tell you his scenario to us was much morrows rosie than what you're reading and i find eric and donald trump jr. to be pretty straightforward guys i've known them, i know the father better, i know them a little bit over the years. ashley: well, we'll certainly see what's going to happen next, charlie great stuff as always, charlie gasparino. thank you. all right, now this. the pandemic, we know, has put the brakes on many people's travel plans over the past year, but up next our countdown closer tells us how you can go globe trotting in your portfolio. interesting stuff the closing
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download now and get your first stock on us. robinhood. ashley: closing bell ringing in just about five minutes from now , the dow in the red, down 124, and ibm and intel still shaving 120 points-plus off of the index, the s&p also in the red, just down a tenth of a percent, although the nasdac is up close to a quarter of a percent but the markets for the week a much prettier picture the dow set to close up the week as you can see up about three-quarters of a percent, the s&p up two, and the nasdac, the big tech composite up 4.3%, and just hit a new record high by the way. all right taking a look, if we can, at some of the nasdac's biggest winners this week, netflix, paccar, and net ease all up very nicely, netflix up
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13%, after subscriber numbers soared past the 200 million mark in the fourth quarter, a lot of people still at home, a lot of people watching netflix apparently. we're also keeping an eye, by the way on the russel 2,000, the small companies, also on pace for a record close today currently up more than 1% at 21.67 on the russel 2,000. all right, well sometimes you have to take your portfolio globetrotting, right? today's closer has your travel guide on the sectors to watch. three hours ago he's the chief investment strategist at insinio joins us now, amed, thank you so much. okay if i'm looking to expose my portfolio, to more, you know, go more global if you like where should i be putting my money? >> okay, well one sector that we're looking at for next year, one of our top picks for 2021 has been the covid losers, so we're specifically looking at sectors where tactical opportunities have popped up because of the
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pandemic, and one sector that we're looking at is the airline sector, right? this is a place where i think especially in the second half of the year, you're going to see sort of a perfect storm. you're going to see pent-up aggregate demand and incomes that have held up rather well meeting the wall when monetary stimulus hit the economy so that sector is benefiting very much towards the second half of the year. ashley: that's amazing, and a very brave call but as you say, you're looking at the beaten down sectors. how is the globe doing? outside of the u.s. , what are the economies looking like? is it pretty much the same story across-the-board? >> well, no. you do have some dicotomies popping up but we're actually quite positive for a global growth in the second half of the year. i think global growth will average between 6-6.5% for 2021. we are looking at markets outside of the u.s.. we're looking at places like europe, japan, especially the emerging markets as well.
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ashley: but you know what? the stories that we're getting, ahmed, is of different variants of the virus, countries still struggling, especially across europe and certainly in the uk. it feels like it's one step forward, two back at the moment. does that give you concern? >> well, no. you have to sort of separate the mid-term picture from the longer-term view. yes, the mid-term picture is it's looking pretty bad in some places but that has already been priced into the market. we're looking at what's not being priced in and we don't think at this point that the strong recovery in the second half of the year is being adequately priced into market. ashley: that's very interesting. so, what areas are you avoiding right now? are you avoiding the counter balance, stocks that have been very done very well during the pandemic, are those the ones you're avoiding? >> sure, well some people have asked us well you want to buy the covid losers, does that mean you want to also sell the covid winners? and not exactly. what we want to do is we want to
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pair back our exposure there, because remember, the covid winners, were also sectors and firms that have stronger, have longer term structural uptrends in place, so we don't want to totally avoid those sectors. we just want to pair back our exposure there. ashley: do you like the big tech sector, ahmed? clearly the big tech has led the way for a number of years now. its used around the world. you still in favor of this price >> well right now, generally speaking for big tech we're neutral on that sector. like i said, obviously, the run- up has been quite strong and they have benefited tremendously from the pandemic but remember, these companies also, even before the pandemic these are companies that have fortress balance sheets, in their specific sectors, so it's not really a sector that you want to be short, i think. ashley: all right, ahmed, thank you so much, we really appreciate your insight, and a
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brave call on the travel sector, once we get past covid of course and the dow and s&p and the nasdac, the russel 2,000, closing out the week fresh record highs, that will do it for the "claman countdown", my good friend connell mcshane will take it over for next hour. connell: all right, thank you, ashley. under pressure, you know, it be a different story for the dow today if it wasn't for some of the bigger names in the technology world as they fall from record territory, and at the close, the dow has dragged down by the disappointing results we told you about on yesterday's show, from ibm and from intel, take them out and we have a pretty good day overall on wall street but they're in in and the dow is down 179 and the s&p fought for gains right up until the close but it'll settle down by 11 points and the nasdac, it does make it happen, third straight record close for the nasdac composite up by 12 points and for the week, the dow, the s&p and the nasdac all higher, strong week, in fact
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