we're running out of time. it's going to be really exciting to see what happens. overall, this market, you feeling okay with it? >> yeah, look, i think there's going to be a lot more motion in the ocean, but i think there's head fakes or as we say in rugby, the dummies -- charles: let's leave it there as i hand it over to cheryl cheryl. mike lee says more motion in the ocean, so brace yourself. cheryl: you don't want to bet against the reddit crowd. remember that 10-year-old that made, like, three grand on his trade? [laughter] i made, like, $10. where's that kid right now? charles: i made $15 one time carrying groceries, but it took me all day, cheryl. it was one of my greatest days ever in my life. man, i worked hard for that money. cheryl: i've been working since i was 12 and here i am still doing it, so what do i know? thank you very much, charles

payne. we're hitting session lows at the moment. i've got an hour to turn this around, but we are nowhere near the losses we saw exactly, god, one year ago today, folks. the pandemic hit one year ago today. right now there are the numbers, we are at session lows. the dow is down 220, the s&p down 20, nasdaq down 110. we'll see how the next hour goes. our floor show traders are going to tell us if the sequel is going to be as good as the original bull market runup. sometimes it is, sometimes it isn't. plus, fed chair jerome powell, and longtime treasury secretary janet yellen testifying today about the government's massive stimulus bill to keep the pandemic recovery moving in the right direction. powell even went so far as to say that, quote, the housing market has more than fully recovered from the downturn. has it in well, we're going to ask the national association of home builders' ceo jerry howard

if he agrees. he's coming up in just a few moments. and a semiconductor shortage putting a dent in the auto sector as cars become even more computerized, we're going. to talk to the founder of a chipmaker about how his cane is help -- company is helping eevs go. that is a fox business exclusive. can you believe it? i'm not sure i believe it, one year ago today, the three major indices fell to pandemic lows. the dow touched 18,591, the s&p fell 30% over 22 days, and the nasdaq touched 8,860. that was then, this is now, okay? because this is spike, the dow is up 74%, the s&p is up 75%. the nasdaq, a lot of those stay at home stocks last year, up 99 3%.

for the dow -- 93%. for the dow, apple, goldman sachs, united health, they've had the largest point contributions to the index since we hit those lows one year ago today. and as you can see the gain in apple, 118%. did you buy apple a year ago? goldman sachs up 147% and unitedhealth up 89. take a look at the s&p 500 and where we've been because energy and materials right now being the best performing sectors over the year. viacomcbs, tesla and it9 city, top performers -- etsy. look at that jump on viacom, 722%. etsy, 564%. tesla, 660%. naysayers saying tesla and elon musk weren't going anywhere a year ago. who's laughing? i think it's him. i want to bring in tom hayes and cliff robinson. good afternoon to both of you. i still kind of can't believe the last year what we've seen, and i remember being here, actually, in the chair a year ago watching the markets fall

and not knowing what the bottom was going to look like. turns out that was it. now the question to both of you is can the sequel live up to the original, and how do we prepare as we continue to move on from, obviously, what we're seeing? i want to start with, scott, with you first because, you know, the question here is, you- tom, i'm sorry, excuse me, can we actually get to, you know, another rally, another year of a bull market? normally the second year does not really mirror the first year when it comes to these types of stories, and i'm thinking of 2008. >> yeah. el well, cheryl, i think what you need, what we want to focus on is the rallies under the surface this year. so on january 4th i was on the show with my top four picks for 2021. they were wells fargo, exxonmobil, walgreens, and raytheon. all of them are up 32-37% except raytheon's up 12.5. that compares to the s&p up about 4.5% for the year. that's the good news.

the bad news is those are reopening stocks, and i think that reopening trade is now going to take a breather with yields stabilizing. you know, they went, the 10-year yield went from 100 basis points to 175 in about seven weeks in february and march. so if those are going to take a breather, where do we make money? i think it's in those areas that got hammered as yields went up which are utilities, which are big pharma and which are consumer staples. those are the groups that we like. just looking at big pharma, we like pfizer and novartis. pfizer is trading at 10.7 times earnings except its they earnine up 49% this year over last year and 4.th 3%, well -- 4.3%, well more than twice the 10-year yield. we also like novartis with a 3.7% yield. we think this is a good, defensive area to hang out the next few months. they're going to recover from their beatdown the last two months, and that's what we like

going forward. and towards the back half, cheryl, those reopening trades are going to come back, those names are going to finish higher, but let's get a little defensive in the utility, staples and big pharma. cheryl: cheryl chris, i was looking at what what had done well up until this point, i was looking at health care up 47%, why is it not up more in because 'em people weren't going for elective surgeries, they weren't getting that knee replacement. that hurt a lot of those companies. clean energy, a 324% and online retail, 303% jump. i think to your point we've got to back it off. chris, i want to move on to, obviously, what you predict over the next year. in particular, get your reaction to the fact that you've got more still plus coming -- stimulus coming from the u.s. government, there's still talk about a $3 trillion infrastructure prompt, all of this plus low interest rates, near zero, those are market positives. that could really be another kick start to the market. >> yeah. and this is something we haven't

lived through. we had a forced shutdown of a $20 trillion economy, right? and you've talked about it this time last year, the dow dipped down to 18 and change, the s&p dipped down to 2174. and it's just been a tremendous, you know, rebalance. is that going to continue? i would say probably not. i mean, are we going to have another 85% rally between now and this time next year? you know, i would not, you know, bet a whole lot on that actually happening. that being said, you know, there's still a lot of reopening out there. and, again, if we're going to spend $3 trillion on our infrastructure, that's got to be positive for the overall economy. so i would say this, i would say this is a great time to rebalance, it's a great time to take a look and say what am i going to do if something like that happens again? you know the correction we had last year was a 35% correction, and certainly nobody if saw that coming. so i would say -- that's what

i've been telling people that, you know, i work with, headache sure that you've got a plan -- make sure that you've got a plan. because we're going to have another correction, it's going to come. what are you going to do then? if that's the point where you have a shopping list of whatever company you want, whatever sector you want, that'll be an opportunity. and i've got to imagine that that's going to come down here sometime in the next year. cheryl: well, chris, you don't think -- you think that correction's going to be in the next year? you think that -- >> we just had an 85% rally, right? two or three weeks ago when we topped out, we had a 5% correction, and you would have thought the world was coming to an end. people are going to have to get used to, you know, a 5% correction in the dow at 33,000 is 1600 points. so you can't get upset every time we have a 1600-point move. and, in fact, if we do have a 10% correction, a 3,000-plus-point move, that's going to be an opportunity. i'm not saying when it's going to happen, but i'd imagine

sometime in the next year we're going to have a pullback like that. i think that people are going to have to get used to bigger percentage moves and, you know, there's going to be great opportunitieses when it happens. cheryl: yeah, no, i think you're right. i like the idea about the shopping list. i do agree with you there because the smart money was actually doing stock picking a year ago because they'd seen this play out before. lord knows we did not expect the markets to rebound as fast as they did over the last year. not complaining. it's been quite a year. guys, thank you very much. great to have you bother both here. thanks. cheryl: thank you very much. well, treasury secretary janet yellen and federal are reserve chairman jerome powell testifying today before the house financial services committee about the cares act stimulus. chairman powell reiterated that changes could be coming as the u.s. economy picks up steam. >> there could be a surge in spending, there could be some bottlenecks in the economy. we see some of that now. we might see some upward

pressure on prices. our best view is that these, the effect on inflation will be neither particularly large, nor persistent. cheryl: well, no upward pressure on new home sales last month as bad wintry weather proving tock a doozy for sales. the numbers fell in february to a nine month low, but year year-over-year the figure was 8.2%. here to talk about it, the ceo of the national association of home builders, jerry howard. jerry, it's it's great to see you. >> great to see you again, cheryl. it's been a while. cheryl: it's been a while. i've missed you. i want to get your take of what's going on with these new home sales. in particular, i want to focus on lumber prices because what we've seen from starts and permits which came out last week was that lumber prices were the third most expense we've item for any new home build, i think more than double at this point. your members must be really struggling right now with that.

>> it's a real problem. it's a problem all over the country, cheryl. lumber prices are at all-time record highs of over $1,000 per 1,000 board feet x. by comparison, during the housing boom the early part of 2000, lumber prices were in 2005, they were $387 per thousand board feet. now they're over $1,000. the demand isn't anywhere near where it was, but the price is just completely out of control. cheryl: and also, too, oil prices is a piece of this too, correct? because that's petrochemicals. so you think piping, and then you've also got we've seen a big jump in copper prices. so, obviously, that's another kind of issue here for these guys. >> well, all building materials, for whatever reasons -- largely it's disruption in the supply chain from the pandemic that have really gotten us in the

cost of building materials across the board. what lumber is right now, the most egregious, because it's the largest component in a house. cheryl: are we still seeing that kind of rush to the suburbs? we saw it, obviously, during the pandemic in the spring and summer of 2020. is that still happening? >> oh, absolutely. it's not even to the suburbs, cheryl, it's even to some of the more rural areas, some of the fastest growing places in the country are, were formerly rural areas. people are now realizing they can work from home on a permanent basis, they can have lower cost of living and a higher quality of life. cheryl: you know, i always did want a farm. had one when i was a kid. [laughter] let's talk about the other issue, of course, mortgage rates. i've got to ask you, i look at these every week, jerry, as i'm sure you do. we're at 3.125% for the 30-year. the 20-year is at 2.875, and the 15-year is at 2.5.

so still at these historic lows. i know we heard from jerome powell today, it seems like this is going to stay the steady from the fed. how are are you feeling about the issue of mortgage rates, and are you concerned if they go higher, this would also hurt your membership? >> yes, obviously, if they go higher, it will hurt. in combination with high construction costs, we think it would be a real issue. so i that chairman powell is right. we still do have extremely low interest rates that are readily available to consumers. but we have a supply problem. we need to be able to build more houses in the right price points. and as long as building materials are that high, housing costs are going to be high. cheryl: real quick, what about labor? are you still dealing with labor shortages? >> we are still dealing with labor shortages. obviously, immigration policies impact that dramatically, but so too does the unwillingness of the american to get into the

construction trades. that's manager we're working real hard on -- something we're working real hard on. cheryl: please keep me posted. good to see you, jerry. jerry howard, information ahb. well, let's talk about microsoft not giving up on its social media ambitions after a collapsed deal with tiktok and reports that it approached pinterest with a $51 billion offer, the tech titan is looking to buy discord for $10 billion. discord popularity has been on the rise throughout the pandemic especially with gamers. thats' how they talk to each other. and also the reddit rebellion. the stock up 1.25% right now. and speaking of the reddit rebellion, remember that short squeeze list that charlie gasparino told us all about yesterday? well, the lust came out -- the list came out. charlie's got the names. the next gamestops, the amcs in this market. charlie's going to break it next. closing bell rings in 45 minutes

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have been famously shorted in recent are months, but now the question is which company is next on the hit list. charlie gasparino is here with the long and the short of the story now. charlie. >> thanks, cheryl. it's great seeing you. listen, it's more than just shorted. we should point out that tesla, gamestop famously but tesla as well, were involved in short squeezes where the people on the short end that were betting the stocks would decline got crushed. how did that happen? when you short sell a stock the, you borrow it from somebody, you sell it, you hope to repa pay it later when you can buy it back at a lower price. but if the price goes up, you lose money. if it goes way up, there's a short squeeze, and you could go out of business which is what happened to one hedge fund on the gamestop short squeeze, and the others felt a lot of pain on the tesla short squeeze as well. one of the companies that kind of predicted it, that had really good research showing this

happen early on was a company called s3. it's a research firm, it's been around for for a while, but it does deep diving into short interest and volume of shorts and just how commuted that short position -- committed that short position is and just which companies based on their data stream ripe for certain, for a squeeze. because if the stock goes the other way, not down, but up, you know, which ones could really crush those on the short end of the bargain. we should point out a lot of hedge funds, they go short. hedge funds -- it's known as long, short hedge funds. it's very common. it sounds a little odd that people bet against a stock, but it does -- it is very common, trust me on this, and it's much needed because there's so many counts in the market among stocks. so what's really interesting is that s3 has now come out with a report. we don't have enough time to go through 500 stocks, because they

identify 500 stocks, although the report doesn't quite get into 500, but there's dozens in there. what i found fascinating, cheryl, is some of the names that are on the squeeze list. amc -- and that makes sense a little bit because they were one of those meme stocks, as you remember, that a kept going up higher and higher despite some short interest that, you know, questions on the business model like who's going to movie theaters these days even as we opened. it's still like, you know, very much 50% capacity and not 100% capacity. but also in the report they identify viacom, which i find interesting, and discover. viacom has had an amazing run lately, people forget that. they've done a good job bringing in both viacom and cvs together. investors are rewarding them for that. but there's a lot of questions concerning the future of media given the cord cutting.

viacom is going to take a hit at some point. so there's a lot of short interest in viacom. but, you know, they're identified as one of those squeeze potentials because investors are giving viacom and bob bachus some high marks. so those are three of the names. we should, again, cheryl, 500 stocks they say globally ripe for short selling. they don't list all 500, they list a couple dozen. and they cite a number of reasons for this. increased investor, retail investor participation, low interest rates, the whole gamestop -- the whole reddit craze where people can actually talk to each other about targeting certain stocks, people on the -- retail investors. and let's be clear, a lot of hedge funds enjoy engaging in short squeezes as well. cheryl: we were showing some of the names on the list, because we had them prior, and some of the biggest losers today in the

market that are getting a lot of buzz are names on your list. i don't know if you're moving the markets right now, maybe you are, but more than airlines, carnival and norwegian are down. but american, amc is taking a big hit, viacomcbs is down more than 8%. i don't know, i'm just saying, amc is down 15.5% right now. >> that's interesting. cheryl: this may be -- >> i think there's a correlation here, you know? the report is out there, people are talking about it. we've been tweeting about it. my twitter feed is picked up by a lot of traders, so this is starting to filter out there. and it's interesting stuff. by the way, one day's trade does not make a market. it's one day's trade, you know? i remember famously stocks were at historic highs in november 2007 right before you know what came --

cheryl: yeah. i was here with you. we were here together. pets.com. i got that run because i'm out of time. pets.com, we'll leave it with that. good times, good memories. charlie, great stuff. thank you very much. >> bye-bye. cheryl: you've got to watch charlie's twitter feed. let's look at chipotle, a stock we're also watching today, adding more mexican spice north of the border. in canada. the restaurant chain set to open its first new location in the country since 2018 as well as its first-ever chipotlen this summer. stock is up more than half a percent right now. here in the u.s., however, restaurants are doing all they can to become pandemic proof. how one restaurant group is not only surviving, but expanding despite covid and the lesson others can learn to do the same. we've got 35 minutes to go.

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cheryl: entertainment dominating our po. but first, rocket companies are are jumping after the personal finance app extended its partnership with the online mortgage company. rocket is paying out a special dividend of $1.11 a share, up almost half of a percent. it's pulled back a little bit as the broader markets have been selling off, as we've been showing you. reports are that nintendo is planning to adopt a chip with better graphics and processing for a new switch mold ahead of the 2021 holiday season. that's big. nintendo is up more than three-quarters of a percent. invidia is down more than half a

percent. let's talk about watching tv. viacomcbs, we were just talking about this with gasparino, the stock is down 8.5%. they're looking to cash in on their 800% runup over the past year. this is the parent of paramount plus. they're seeking to raise $3 billion by offering common and convertible preferred stock, and that stock right now, as you can see, is down 8.5%. take a look at some of the other streamerses, this is kind of all in the same group. discovery right now is moving lower by more than 3.5%. netflix is up more than 2.5%. ubs cut their sell, cut this stock to sell saying that the streaming tail wynns are going to taper off. these are the stocks that jumped during the pandemic, during the lockdown. netflix, by the way, this is one of the top leaders on the s&p 500 after arkansas gus upgraded that stock to a buy, but it's a ubs move that's making the biggest effect right now. well, the restaurant industry is taking lessons

learned from the coronavirus pandemic to create what some are calling pandemic-proof business model from expanding outdoor dining to creating more socially distanced indoor dining options. but will any of these measures be enough to keep the industry going? it's been so hard hit. jeff flock joins us from philadelphia with a little bit more. jeff. >> reporter: happy to be in a beautiful, sunny philadelphia. and i'll tell you, i don't know any industry hurt worse by the pandemic than restaurants. but look what this restaurant has done here. everything from booths for the outside to if you're not wanting to be in a booth, you want to be in a more private area and it's cold, what about greenhouses? one of philadelphia's most celebrated and successful restaurant tours, you did whatever you had to do to make this work. >> yes, jeff. it was a difficult time for all restaurants here in philadelphia and all over the country, but

with the help of our patronses, the city and our staff, we were able to reopen and open strongly. >> reporter: through the operation here, go ahead and walk inside, if you would. cheryl, as you know, huge losses. both sales as well as jobs by the restaurant industry. $240 billion in lost sales. look at this, greenhouses, we've got greenhouses where people are enjoying themselves, oh, yeah, a good party. oh, one guy. well, that's very lucky there. and they're celebrating. [laughter] it's sunny today. people want to get out and enjoy it. the indoor dining, you're still at 25% capacity. >> that's true, yeah. so philadelphia is, we're allowed to have 25% indoors and outdoors right now. pennsylvania's moving to 75% capacity in april. but right now philadelphia's at 25% capacity. >> reporter: national restaurant association did a survey that said when are we going to be back to normal.

32%, i think, said it's going to take a year. another half to three-quarters said more than a year. some people said we'll never be back to normal. you actually expanded. maybe if pete goes inside, you actually knocked a hole in your wall and expanded during the pandemic. what were you thinking this. >> well, during the pandemic we're not public health professionals, we're restaurant people, and the virus kind of dictates the pace of reopening. and the most important thing for us was to be able to open safely for both our patrons and our staff. so because physical distance is so important, the business here was expanding because they had at contract -- >> reporter: they moved out, you moved in. >> right. we continued to have dining capacity but still maintain physical distance for our patrons. >> reporter: cheryl, the creativity of the american restaurant our, that's part -- restauranteur, that's part of his management team in the back. people want to be outside, so the managers get to sit inside in the dark restaurant.

love success stories. cheryl: well, the outside is where the mimosas are, which your cameraman just showed us. >> reporter: oh, he wasn't supposed to do that. [laughter] cheryl: jeff, i don't know if you mentioned this, sorry if you did, we call them covid cabins in new. that's what i call them. >> reporter: oh, yeah. they are kind of cabins, only this is a see-through cabin. so i'm not sure if that's good or bad. cheryl: jeff, that was great. thank you very much. appreciate it, jeff. jeff flock. live in sunny philadelphia. well, faster and stronger batteries seen as a key to fueling the electric car future. and one ceo says his company has the game-changing tech that could solve the ev world's long distance range problems, and i'm going to be talking to him next. closing bell's going to ring, we have 26 minutes to go. i'm not turning it around, dow down 328, nasdaq down 154. we'll be right back.

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hon? first off, we love each other... ♪♪ cheryl: some of the world's leading carmakers are scrambling to assess the damage after a friday night fire at a japanese chip plant. it's going to take at least a month to resume production at the plant. there was an electrical jolt that caused the fire, the company supplies nearly 30% of the chips used in cars around the world. so it hit toyota, honda, niece niece -- nissan, and we're now getting an inside look at what happened at this plant. you also had gm announcing some of their newest cars are going to hit the road without an advanced fuel management system because the carmaker could not get enough microchips. well, transform is the global leader in the semiconductor industry, and here in a fox business exclusive we are join

by its cofounder and president. it's great to have you here, sir? >> >> thank you, cheryl. good afternoon. cheryl: thank you. this is really hurting consumers, it's hitting car manufacturers, this chip. shortage. how bad is it? and how long before you think that we can get the chips back in the these car makers so they can resume production? >> sure. so, first of all, cheryl, transform, we are trading in the ticker sip boll tgan, and we are a leading supplier of the new generation of some of the devices for power conversions from applications like 5g to data center cloud computing, to industrial renewable power and, most importantly, our products enable highly efficient, robust and cost efficient -- for onboard chargers and traction -- [inaudible] cheryl: so this is your space. you know the space.

that's why i wanted do can you, again, about how long -- to ask you, again, how long this chip shortage is going to affect these carmakers, and what does it mean for your business? >> the production of the knew try, we actually control the value chain and make our own, so that's one of the strongest points of transform backed by a portfolio with more than 1,000 -- [inaudible] we control our own manufacturing. so, obviously, we're aware of what's going on in the semiconductor industry, but at this point our production is under our hands. and the chip shortage itself, the industry, obviously, knows how to grapple with those shortfall. it has been the last several months have been challenging for everyone, but the semiconductor industry, again, has always risen above to meet the demand of the customers, and i believe this will be no different. cheryl: well, and i definitely wanted to get your take on the news of the day.

i do want to talk though specifically about your batteries and how they're different. i think that the biggest concern for electric vehicles in general is how many charging stations can we gut -- get out there across america, ands also how can we get these batteries to produce a longer driving life for the vehicles. >> sure. so the beauty about the technology for power conversion, actually, it makes a tremendous impact on the automotive efficiency, the size and weight of systems, the cost of systems independent of the battery technology. so the power, inverters take electricity, take the power from the battery and convert it to drive itself or to the power other electronic systems. so what we do is, it is the fast switching of all semiconductor technologies available today, and we enable cooler waters, cooler system giving freedom of

design, faster onboard charges with higher power. for example, one can reduce charging time to 80 president charging in -- 80% charging in 10 minutes, 15 minutes. cheryl: oh, that would be great. before i let you go, i'm almost out of time, but i do want to ask you how does your technology fit into cell phones? is there a play for your company in cell phones? >> absolutely. so at transphorm, wherever there is ac to dc, there's gal yum knew try making the systems cost efficient and and highly, highly efficient. 99% efficient system spending 15% electricity that is usually wasted. so our vision is that every smartphone in the future should be powered by fast chargers and adapters. tgan, our team, looks excitedly to that future. cheryl: it's fascinating

technology, it really is. it's very cutting edge and thank you for clearly explaining it to us. thank you very much, appreciate it. >> thank you so much. bye-bye. cheryl: well, i'll switch gears now, talk about health care, obamacare about to make a cam owe appearance on president biden's health is here tour. what larry kudlow has to say about all that, that's coming up next. the closing bell is 16 minutes away. again, we are pushing session elopes for the dow. cat -- session lows for the dow. caterpillar's leading the way, down more than 1%. we'll be right back. ♪ ♪ ♪ ♪ we made usaa insurance for veterans like martin. 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 so you're a small business, usaa. what you're made of, we're made for. or a big one. you were thriving, but then... oh.

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after the high-tech fitness bike maker confirmed they recently went on a shopping spree. they're now the owner of a series of companies that's going to give it access to wearables, a.i. digital-powered voice-assisted feature and a potentially interactive workout mat. that's going to compete with apple and garmin. peloton's stock is up more than 3.75%, almost 4%. so we're watching that stock. and we've also got some breaking news that we're watching right now, want to take you to ohio. this is president biden right now. you're looking at these images, he is touring the james cancer hospital and solo research institute in columbus, ohio. today is the 11th anniversary of the signing of the affordable care act. the president is there. and then he's a little bit ahead of schedule by 20 minutes or so, but he's going to be, in just a

bit -- almost about a 5 p.m. eastern, maybe slightly before, he's going to be delivering remarks in columbus, ohio. he's going to be talking about health care. he's gown to be -- we're hoping to talk more about vaccinations, maybe some other things on the president's agenda. jen psaki did gaggle on air force one with the press corps, our own blake burman giving us an update, talking about some of the things we expected from the president. but, you know, keeping basically to script, if you will, and talking about health care. again, this is the 11-year anniversary of the affordable care act which is still there, but it's certainly weakened, it's been changed, it's been kind of -- i don't want to use the word decimated, but it's definitely not where it was 11 years ago because of the cost overruns. and in particular, remember the affordable care about, i covered this 11 years ago -- i don't know if we can hear the president. brad, can we hear him? >> -- other ways as well.

so it really something that i'm encouraged just to spend a lot more time in government focusing on. a little bit like, you know, we used to have to with agent orange, you'd have to prove that even though you were drenched in it, that whatever your problem was, was a consequence of that. very hard to prove. i finally got a bill passed in the senate saying if you were drenched, you're automatically assumed whatever your problem related to that. psalm thing now -- same thing now with the ied. if you're a concussion, you have a problem, it's assumed the government has responsibility for it. but there's a lot going on. the doc could tell you more. one thing that really excites me, doc, is the idea that we're moving into potential immunotherapy initiatives that they did with beau, injected an

adno virus into the brain -- cheryl: speak about immunotherapy, that is a bug story when it comes to cancer treatment in this country. larry kudlow is joining me now, "kudlow" coming up in nine month minutes, and i wanted to listen to president biden for a moment. it's the 31-year an -- 11-year anniversary of obamacare. but i was saying that law, or what's left of it, is so different because they were so dependent on young people signing up for these exchanges, and they were going to penalize them if they didn't do it. and those younger people never signed up, and that kind of took the bottom out of obamacare can. larry: never materialized, you're exactly right. and the numbers across the board for obamacare were very low because, you know, the personal care, the so-called market stuff which is not really market stuff layered on so many different options that people did not want to pay more either premiums or deductibles, and so they just went, you know, went away, just

didn't do it. i don't know they ever will. i don't think it's a rescueable thing. i fear they're going to try to layer on with drug price controls, they're going to try to layer on obamacare. it was unpopular from day one, what can i say? cheryl: the financials never worked because they didn't do tort reform which is something i was saying 11 years ago, and they never opened it up to state to state competition. i feel if they would are have done those two things, harry, you would have had a more successful -- larry, you would have had a more competitive health care system in this country, and it didn't work. and this is what the president is talking about today. larry: i think you're right. and i would just add there's not enough options in this. they should have permitted on the personal side people that didn't want every single option, didn't have to take it. insurance companies would have created, you know, much better packages, and it would have been cheaper with lower deductibles.

cheryl: "kudlow" airs at the top of the hour. i will see you tomorrow. we're going to see him in accept minuteses from now, and he's going to be talking with michael pillsbury, scott hodge. every day, 4 p.m. eastern time, "can kudlow." fox business. we'll be right back. . . ons. all in one place. expedia. some say this is my greatest challenge ever. but i've seen centuries of this. with a companion that powers a digital world, traded with a touch. the gold standard, so to speak ;)

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cheryl: closing bell does ring in three minutes. the dow off session lows. we were down 299. more than 300. 374 was the low. s&p down 29. nasdaq down 145. cases rising, worries about the global economy, oil prices down a little bit today factoring in in the selloff. we have bill young, two billion in assets under management. great to see you. >> great to be here. cheryl: you like e-health which is a player in that space.

why do you like it? >> well, what we like is the total addressable market. there are 10,000 americans turning 65 every day. they have to have medicare and a medicare supplement. that is where e-health comes in. they know what they do to market to seniors. they use television ads, old world, old school stuff. >> they get to the interesting. 13-b was filed, this is second activist investor gotten involved with ehealth that will be interesting times coming ahead. that you will have a battle in terms of putting new people on the board. we spoke to the ceo. we have every confidence in him. interesting to see how they deal with the new 13-d filer. cheryl: biggest thing i didn't realize. 10,000 americans are turning 65 years old every day. this is a me medicare play. you also like palomar.

>> i do. >> earthquake, fire insurance. >> some people might think that is aboving. special needs insurance, earthquake, fire, that sort of thing. they had a little bit after rough patch last year but we think they learned from it. that is why we're buying it recently. market was soft. prices are starting to firm, that is great for them, insurer, not good for those that have to pay premiums. that is something that is a niche market. huge need for it. unpredictability is pretty wild. they figure out how to control it by lay of off risk. we want to avoid risk like everybody else in the stock market we're attracted to the management that is seasoned. they know what they're doing. they're very well-run. you can make good money. cheryl: george, sometimes boring is good. utilities can be good. george young, thank you very much. point attention to the markets. we're off the session lows. we're down more than 370. to let you know what is going on here. we're seeing cases rising around the globe. germany, france, lockdown

measures overseas. a little bit of trepidation. some big travel stocks were hit like american, carnival, norwegian. [closing bell rings] i will be back tomorrow with you. that is it for the claman county down. "kudlow" coming up right now. larry: welcome back to "kudlow." i'm larry kudlow. the markets took a history in the last hour an finished down across the board. not sure why. we'll explore that. we have a stock market segment tonight. it could be the fed, treasury, taxes who knows. i want to begin with a couple thoughts on this inflation scare which i don't buy. so far, folks i can't buy into it. i don't believe inflation will be a gigantic problem. let me just walk through some thoughts. i know that commodity prices are jumped and i dope doubt they may enter into the inflation picture a