tv The Claman Countdown FOX Business August 3, 2021 3:00pm-4:00pm EDT
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you give me one specific name that fits that description? >> rhymely looking hard at connected fitness, peloton has a comeback. charles: ann, thank you so much. i really enjoy our conversations and again, you were in front of everyone with that. liz claman, i'm liking the way this market is acting as we go through the last hour of trading liz: yeah, it's almost like hawaii woke up, right? mid-section for the east coast, and said do you know what? we got the urge to buy on wall street. here we go stocks are shaking off early losses, yeah, i know. and now, we see them pushing back near record highs on strong earnings and economic data. dow jones industrials powering higher by 227 points, the s&p not bad up two-thirds of a percent or 30 points and the nasdaq up 55. markets as charles just said, are virtually ignoring rising
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cases of delta variant and new coronavirus mandates as one company signs a pandemic pact with another. famous secure company to keep its clients safe, the express boss ceo is here, on its new deal with israeli airline to test its passengers for the virus, this is a fox business exclusive you've got to hear this story of what they are doing and who knows if other airlines are getting in line for that, and nil is the hottest game in all of college sports right now. nil stands for name, image, licensing and it is the new ncaa acronym that has college athlete s looking to cash in. shaquille o'neal's son is here with the ceo of a company called influential to tell us how college stars are and should be taking charge of their own brand s. plus we've got the stock jumping again, thanks to what we hear at the "clayman countdown" are calling joe rogan effect.
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it's a company that just went public, we'll see if you can figure it out and no it is not robinhood. speaking of which we have breaking news as we kickoff the final hour, ipo newbie robinhood making like a meme stock after three days of closing below its ipo price of $ 38 a share, take a look at the free online brokerage app. it's soaring right now, 21.5%. why the sudden spike? well according to eight wisdom which basically is a site that tracks how many times certain stocks are mentioned in the wall street, the reddit chat room over the past 25 hours, robinhood has been the second- most discussed name among the meme stock crowd, and for those of you who are curious i know you're saying well liz what was the first number one is the spider etf, the s&p 500 etf, so the company known for stock trading surges more than 20% we've got to take a look across the pacific, china's crackdown on multiple sectors continues overnight. a cold regulatory win blew in
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from beijing, right over video game stocks after state-run media called gaming, "spiritual opium." hong kong trading of names like tencent which at one point took a 10% hit went absolutely self and now you see follow through here in the u.s. but net ease down 11%, yes tencent though slightly off the lows, now down 7%, billy billy down 8%, china's crackdown spreading to u.s. video game stocks, let's say at kohl's, not necessarily the flu, but act it vision blizzard, electronic arts, take two interactive, zinga are all moving lower from one to nearly 4% at beijing's spillover to u.s. stocks, how should investors handle this very complicated situation over which they have very little control, and that is, china's government waking up everyday and deciding to make a target out of different sectors. to our floor show traders, hugh
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johnson on the phone and scott fullman. hugh, we got you on the phone because you are one of the few people with decades and decades, i believe four decades of experience, dealing with all kinds of market moves. i know i'm calling you out, and black swans, et cetera. >> uh-huh. liz: you've got to talk to us about this because look clearly u.s. indices are holding firmly in the green but every time china fillets a sector lately we're starting to see contagion and corresponding u.s. names so give me a sense of a, have you ever seen anything like this before, and b, what is an investor do? >> well, of course, i've seen something like this before, we seen crisis before and the most important thing for investors to keep in mind is when you get a crisis even if it's small such as 1998 when we had the long term capital problems and the problems started very small in thailand, this case we're not talking about small, but they can get transmitted they can get transmitted around the world and get transmitted for all sorts of reasons beings and some of them you just mentioned, the
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psychology. people get very scared when they see the chinese doing what they're doing and see their markets decline and of course trade flows and capital flows, they start to dry up or they start to get distorted. so what we're seeing right now is some of that. i think the most important thing right now, to keep in mind, is that what we've seen, the declines we've seen in china right now comparatively speaking , compared to the 2015 problems we had inclinea the 2016, and 2018, what we're seeing so far, from the chinese markets, is pretty tame. we're talking about down maybe six to 8%, 2015, down 45%, 2016, 25%, 2018, 25% and that all got transmitted around the world, so investors had better be very careful when it comes to china and very careful elsewhere, because it can get transmitted simply through china's, simply through psychology. it's very scary to see this kind of thing happen in the markets.
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liz: scott fullman, hugh is right. we're seeing a rotation out of chinese stocks, although i'm wondering are there some deals because we saw this in 2018 where china set its sights on tencent, that went down to $42 and it completely recovered going as high as $90 so it's 56 at the moment but people were smart if they bought during the most fearful of times. >> well, yes and gamers are not putting down their joysticks. what they are doing is taking a step away, they are looking for other opportunities right now. the fact is is that to buy new systems, to buy even the components, very very expensive right now, so the investors when they are see ing this happening now in china, they are saying okay, do you know what? we're going to turn around and move on to other things at this point. we're seeing a recovery in some of the semiconductor stocks, i think that's where the money is
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coming from. it's moving from some of these gaming stocks and some of these chinese affiliated companies into the semiconductors. they are looking for growth again, and we see that across the market. the spyg, which represents growth stocks in the s&p 500 is outperforming once again. it's a real positive thing for the u.s. economy. liz: well, hugh, if you're staying state-side, and you're rotating into u.s. stocks, is think a particular sector you're loving right now that you see real opportunity in? >> yeah, there is and first of all, the u.s. looks a lot more attractive than china and it has for quite frankly a fairly long time. i'm looking very hard at the not looking hard but actually buying in the technology sector and the consumer services sector, we're seeing positive relative performance and the important thing is we know and you know that the economy, the u.s.
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economy, is past its peak rate, second quarter was the peak. we're going to see continued growth in the economy but it's going to be at much slower rates so when you have that you want to buy companies that will provide you good, steady flow and revenues and cash and cash flow, free cash flow and that's why i look at companies that have continued to be able to provide that, companies like, you know, the old names. it's apple, it's google, those are the kinds of names that did well in the pandemic, even though it was a bad time for the economy, they are likely to do well, even though the u.s. economy is in the process of slowing, so, take a hard look at consumer services , take a hard look at technology. i think they are going to be the best performers over the next six months, 12 months. liz: scott, really quick. is there a favorite name you have right now? >> i'm looking micron right now i think it's relatively cheap and there's an opportunity to get in here and make some money and follow some of the other
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stocks in the semiconductor sector, but also, look at the telecommunications stocks as well. liz: we're all attached to our phones that's for sure, hugh, scott, great to have your perspective, we got to get you this fox business alert. a smoking hot stock that went public just last week is exhibiting what could now be what we're calling joe rogan effect. trager has been on an absolute terror since its public debut last thursday, same day that robinhood went public, we have the ceo here, while other arguably high profile stocks have flopped, i mean, jessica al ba's honest company comes to mind, team countdown believes that smoker shares have steadily gained huge popularity in part because joe rogan has been touting on his podcast and social media starting back all the way to 2018. the halo effect clearly attracting investors as shares have jump 50% from their $18 new
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ipo price and weber grill is not burning cook shares that's the ticker symbol it's up another 10.8% to $26.83. now, on the other hand, clorox shares looking pretty grimey since the opening bell so all session long we've watched the cleaning products giant go down, now we're lower by 8% believe it or not that's off the low of the session the cleaning products giant missed both quarterly earnings, and revenue estimates as supply finally caught up with what had been surging pandemic demand, right? clorox wipes, clorox also says margins could see a negative impact due to higher commodities costs so there is the word for inflation. the one-two punch obviously hitting clorox shares pretty hard right now. nicola continuing tougher off course, the badger electric vehicle maker hitting the brakes after slashing full year and
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revenue forecasts and supply chain issues are getting the blame the news comes less than a week after founder and former ceo trevor milton was criminally charged with frauding investors and his indictment is "a potential distraction going forward." you think? okay, how about potential distraction now? because the stock is down 7.5% at the moment. bitcoin mining stocks tumbling alongside cryptos at this hour, marathon digital is moving lower despite a record haul of bitcoin s, right? they mine the actual bitcoins, marathon is down 5.25% and then you have riot blockchain also lower by 6% and hive blockchain has paired a chunk of its losses , that's good news, right? but we do still have shares of h ive moving lower, cryptocurrencies right now in the red for a totally unrelated reason though it appears deep in that 2,000-page infrastructure bill there's a crypto tax that could raise something like
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28 billion in revenue to help pay for the $1 trillion plan. hey, crypto has got to do its part, right? the rest of us are, sec chair gary gensler hinting at new regulations for digital currenc ies saying the sector is "ripe with fraud." bitcoins down about 3% to 38, 166. you can see ethererum is still above 2,400, and litecoin down slightly at 139. like father, like son. shaquille o'neal's son is going for a slam dunk not on the court , but in the business world as college kids aim to cash in on new relaxed ncaa rules. the ceo of "influential" are here next on the early adopt ors , closing bell 48 minutes away, we just hit a session high , we're slightly up but with the dow up 238 points the bulls are on the run, "clayman countdown" is too, we're coming
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season, but athletes from all sports have already begun cash ing in after june supreme court ruling that allows student athletes to make money off their likeness and from endorsement deals, because they weren't allowed to do that before, right who is already hauling it in? well take a look at auburn quarterback, who announced a partnership with milo's iced tea syracuse, basketball star buddy vayheim has begun selling t-shirts with his nick name buddy buckets on them thanks to a company called the player's trunk and hayley and hannah cave nder not only inked a deal with boost mobile but also with six star pro-nutrition as the athletes aim to be like shaquille o'neal quite frankly known as one of the best brand businessman and marketers in sports. let's bring in lsu basketball star sharif o'neill working with influential which optimizes brand relationships with athlete
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s. good to have you both seriously. ryan, i am going to begin with you before we get to shaq's son. you're teaming beyond just finding marketing relationships, right? what can he bring to influential 's table? >> well, sharif is an amazing player on the court and amazing content create or on tiktok and instagram and for us we're going out to work with the largest fortune 1000 brands to create those branded content deals and sharife is a prime example of a now-available college athlete that really speaks to a gen z audience, an audience that brands are trying to reach more than ever before both room alley ly and nationally, so it's an exciting time for our brand and any brand that wants to figure out how to reach that audience. liz: sharif, you're not just a customer and i would imagine influential is working on deals for you as an lsu jr.. you've got to tell me exactly what you envisioned as far as
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this relationship and why it's important for student athletes to be allowed to raise money off their own likeness. >> you know, i think it's important for student athletes to be able to make their own compensation off the name and likeness, because college sports is huge in america, you know, college sports bring in a lot of money to the schools and to the programs and now that this new rule is allowing us to get paid i feel like it'll help a lot of people out and it'll help a lot of people build their brand, and put their name more out there for stuff in the future if they decide to go professional or whatever they do, it's just a good opportunity for every college athlete to have this rule passed now, so it could help out a lot of people. liz: oh, i would imagine, and by the way i'm sure our viewers know this but the greater number of college athletes even if they are big stars don't go pro for whatever reason they don't get recruited or they go off and have their own different
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career, but they have a very short shelf life to participate in making money off their like ness, so i get the whole thing here, but shareef, we just pointed out a couple of them, be au nix, it appears many are striking deals with local businesses, know the that there's anything wrong with that but what do you see as real opportunity out there? your dad was able to really capitalize on it in his professional life, but are these athletes aiming a little for low hanging fruit versus going a little bit higher? >> you know, it's still new, and a lot of people's seasons haven't started yet so i understand that they might be getting more local businesses now, but you know, performance, when their season comes around, they could get deals from all over the place, so it's still pretty new, we're a few months into it now, and we're still in the summer session, most schools are so i feel like when the season gets going when everybody starts playing and
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showcasing their skills more deals will be coming towards a lot of players and it's good players have stuff going on right now to get us started so they are leading up to bigger deals but right now the local businesses that are connecting with these student athletes that's a good start so far from the beginning. liz: ryan, nfl yahoo, eventual venmo, you've got relationships with all of them. make your pitch right here. how do you look at an athlete, at a university, and say here is what i can do for you and how do you go about pitching them to pepsi or mcdonald's or some of your other partners? >> it's all about education. we created "influential you" to give the best practices to share ef and anyone else that wants to understand how best to understand their value, take out the right brand partners, how to stay eligible and for the brand it's all about the demography. i want to go after 18-38-
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year-old men or women, that have an affinity for nba or whatever the audience they care most about that contextual ly speak about a brand or a product organically, and they are even speaking in a similar tone as a brand, so all of these things when you match them together appropriately, we have our partnership with ibm watson and ai technology that helps do that and we're helping the nil students to monetize their brands while also helping the brand drive business outcome s, to spend more money on the student, it's a good system. liz: reef, i called you that because that's your nick name and we're on a first name basis but personality is so important. your dad is hilarious in so many of these commercials and so many of these branding opportunities that he has. do you see a little bit of that in yourself and how important is it to have that of a little bit of a personality for these companies? >> i think that personality is
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one of the main reasons why people love my dad so much and why he speaks to a lot of people , because at first, they just saw him as a basketball player but now since he's doing all this stuff they really see all of the other things he can do and his personality has led him to many things, movies, music, commercials, he's an analyst, so any dj, so it's a lot of things his personality has gotten to, and i feel like that's a really important thing, and i feel like i have shown my personality on my social media. i've been on social media for a long time since i was a kid so people kind of got the gist of how i act, and my dad always said just be yourself. people are going to love you for who you are, so i've always been taught to be myself, so i feel like i show a good a little bit of personality on my social media that people have complemented me for , or have said things for , so personality is really important. liz: well yeah and you've got to
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get a charles barclay in your life so you can have a little bit of verbal sparring, right? it's great to see you both. we'll be following this story i think it's really interesting it's only expected to get bigger , thanks, guys. >> thank you. >> you bet. liz: experts predicting this back-to-school shopping season will be the biggest-ever recorded, but will inflation make notebooks and rulers more expensive than ever? we're heading to the mall for the school supply price check-in in moments and the stocks that stand to land a top grade in profits class. closing bell ringing in 36 minutes down s&p at session highs right now, could new records be in-store? you've got to stay with us to see. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time.
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we need to be up 35 points to the s&p. victoria's secret trading in style as it makes its market debut as a standalone company in what we're calling a little sibling rivalry, they are currently up 29%, while it's now sister company, bath & body works trades just flat, flat. ralph lauren also in fashion at this hour with investors the luxury apparel maker raising its forecast as shoppers flock back to the brand at a faster than anticipated rate, so, the stock is moving at a faster than anticipated rate up 6.5% and then joining ralph lauren and the s&p winners circle at this hour, under armour, the at hleisure wear maker lifting its forecast after confirming that customers are shelling out full price workout clothes at an increasing rate. shares up 7.5%. from exercise wear to back-to-school clothes according to the national retail federation, you ready for this? total back-to-school spending
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this year is expected to reach a record $37.1 billion, but how do inflation and supply chain issues impact the equation and which stocks right be poised to profit either way? to the willowbrook wall in wayne , new jersey and lydia hu take it away. reporter: hey, liz, you know, families are expected to spend about $59 more this year on back-to-school supplies than they did last year that's going to bring the average household spending up to almost $850 an all-time high, since the national retail federation has been tracking this data. now, what's driving this? is inflation, computers, for example, are going to cost about 2.3% more this year than last. the big need for a lot of students especially last year and virtual learning and this year as they return to the classroom, but what's really going to get consumers a pinch in the wallet is apparel. for boys and girls clothing and shoes that's up about 5.5% over
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last year but it's not just the price that is problematic. it's also the supply. manufactures had to start making clothing about nine months ago for this year's back-to-school season and it was hard for them to know what exactly the need was going to be so that means, you can expect to see a smaller selection on the shelves. fewer sizes, fewer colors, watch this. >> retailers didn't know if the school kids and college kids were going to be on campus or in the classroom or at home, so they wanted to be fairly conservative. they placed their bets to be a little bit more thin on product, so that they didn't get stuck with it. so we're going to have more people chasing for product this year than they have in the past. reporter: so liz, the retail experts tell me that means if you see something on the shelf that you want for a back-to-school purchase, buy it right then and there. don't wait for a discount or
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promotion for a sale because it's probably not going to be there. a lot of those sales probably won't happen because retailers won't have to offer them in order to make the sale they expect what the retailers have in stock probably going to sell out which means it's going to be a good year for the retailers. liz? liz: grab it as soon as you can get it. i think that's what they are saying which works for their profits lidia great to see you thank you very much. wait you guys i just saw that carmello anthony signed with the la lakers i wish i'd known that before i interviewed shareef o'neill. that would have been fun. yeah, okay go lakers. bankers backtracking, the big banks that could be preparing to hit the brakes on its return to work plan, with the closing bell ringing in 28 minutes, once again, markets are making new session highs. we are looking, are we? at the s&p, i want to quickly see that. are we at a record guys? we are at it right now we need
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to be up oh, 35 points we're up 33 points at this point, okay so it could be a horse race here, folks charlie breaks it, next. this past year has felt like a long, long norwegian winter. but eventually, with spring comes rebirth. everything begins anew. and many of us realize a fundamental human need to connect with other like-minded people. welcome back to the world. viking. exploring the world in comfort... once again.
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liz: new york city is the first major u.s. met rolfe metropolis to require proof of covid vaccination for customers and staff at gyms, restaurants and other indoor businesses, as the delta variant spreads like wildfire from florida to texas to new york, now the question is, considering wall street's major banks were the ones most adimate about workers returning to the office, are they now shifting their plans? charlie gasparino has his ear to the wall street asphalt right now, what are you hearing as far as chatter is concerned about their plans? charlie: well, liz, there's three firms that have the most stringent policies it's goldman sachs, jpmorgan, morgan stanley,
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jpmorgan and goldman sachs say you've got to come back now, they are trying to bring people back now and morgan stanley is saying after labor day we want everybody back. the other banks are all over the place, but just let's focus on those and those are the most important, the biggest bank, the ones that employ probably the most people in the city. start with morgan stanley, because we do have a little bit of breaking news here. morgan stanley says officially, to us, through the spokesman, that there's no plans to change the labor day start date and i believe that. i am talking to executives at the firm, and what they are giving me is a little more of a nuance. they really do believe that given the surge, the delta variant surge, particularly if it keeps going, we've got a few weeks to labor day as you know at the end of august, beginning of september, they believe that's going to get pushed back. they really believe it is a good chance if you get pushed back, because the city right now is in complete flux. new york city, where the headquarters of morgan stanley is where they have a lot of their brokers are located
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here. it's in flux. there's mandates about getting vaccines to go into restaurants, some buildings have mandates about mask wearing, you've got to be masked up inside their building, so it's all over the place, and so what i'm hear ing is internally, they are telling, people are telling me that at morgan stanley they are rethinking stuff, so just take it for what it's worth, it's what executives are telling me on the side versus what the pr people are saying publicly and for all i know they go through with it because james gorman the ceo really wants to bring people back but there's a reality with this new delta variant and now let's switch gears to jpmorgan because i could tell you that what sources there are confirming to fox business that they are literally rethinking their plan now. they should have a final determination, i believe, in the next couple of days, at least that's the way it was described to me as imminent, that they are going to, they may , and they may change and pushback or sort of delay or
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modify what they have right now , which is a pretty stern order from the ceo jamie dimon to get back in the office so that's in flux and listen they may not change it. i'm not saying they are going to change it. i'm just telling you that from what i understand they are management, jamie dimon, in particular, is reevaluating the back to the office plan. goldman sachs from what i understand, david solemon and his team are watching guidance and they still, they are telling us they have no plans to change right now. remember, they all preface it as plans, and they are watching for guidance from the city to state to see if this is feasible to bring people back now, given the various changing mandates in the city and the state. interesting to note, goldman sachs did issue a statement to us. they have had vaccine reporting requirements in place since jun. employees are required to submit their vaccine status and un vaccinated individuals are required to submit regular weekly testing and wear a mask
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in the office. i will tell you this at morgan stanley, from what i understand, they have a sort of daily health check that they were implement ing loosely at first, at least. i hear now that management is ramping that up, like you have to daily fill out this form that if you don't have covid symptoms that you've been vaccinated, you know, and just where you are in terms of help. that's being pushed at morgan stanley, so you could see wall street is maybe it's different than silicon valley as you know google and all of those west coast firms are saying work-from-home indefinitely. wall street maybe moving in that direction, based on this type of reporting, but i think we'll know more by the end of the week , liz, back to you. liz: you know what, charlie? we'll know more by tomorrow morning, we're just getting this news. jpmorgan chase and the plans. we will ask them tomorrow when ceo jamie dimon sits down for an exclusive interview on "mornings with maria" please do not miss this because charlie
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has just outlined what he's hear ing, maria is going to ask the tough questions, the show starts 6:00 a.m. eastern every day, only on fox business, jamie dimon on "mornings with maria" tomorrow. delta variant fears hitting marriott despite a rebound in leisure travel the hotel chain does strike a positive tone but a drop-off in the recovery of its asia business courtesy of the fast spreading covid strand hitting shares at a loss of 1.8% the delta fear factor bringing together one major travel company and the international airline known for the tightest security in the world. next, the ceo of express spa is here in a fox business exclusive on the big deal, his spa turned covid testing giant just made in the pandemic fight. closing bell ringing in 18 minutes, the dow is charging higher by 266 points, we are coming right back don't go away.
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liz: we are getting this breaking news at any moment president biden is expected to speak about the recent milestone america just hit. 70% of american adults now have been armed with at least one shot of the covid-19 vaccine, and just as rising cases of the delta variant ravaged the travel sector, one company that pivoted its business model early on when the pandemic first hit is getting its own booster shot. in an effort to stop covid numbers from taking off xpresspa announced it's launched a pilot program with the international airline known for having the most security in the world.
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israel's and xpresspa ceo joining us now in a fox business exclusive, doug, good to have you back here. talk to us about how this partnership first came to pass? >> well we started working with them early on, as countries are all trying to wrestle with how to protect their citizens, israel has been one of the world leaders, and today, when someone travels from the u.s. to israel, you take a test, a pcc negative test 72 hours before, and then another one when you land, in tel aviv so what they are looking to pilot is you'll still take that 72 hour test before, but then you have one at the airport right before that we would facilitate and the benefit for the traveler is you get to tel aviv and you can exit the airport right away instead of waiting a good amount of time to have that second test done, and el al is very motivated because they are trying to create a safe, but easy path to
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get home for many people. liz: yeah, i mean, every country is different. i just went to the dominican republic and before leaving i had to do this and that coming back to the u.s. it was a whole thing as we like to say but doug should all other airports and obviously, this is beneficial to your business, because you converted your xpresspa in some cases to rapid testing sites and testing sites. should other airports internationally follow this right now? are you seeing kind of movement toward that? >> i think it makes a lot of sense. people are going to come to grips with testing is going to be around for a while, as variants continue to circulate around countries, having successful protocol to ensure people aren't transmit ting disease when they travel from country to country our airports are our borders so when you take a test 72 hours before, and then another one at
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the airport, you have a much greater certainty of people coming in clean. liz: israel had its own problems it kicked off to a fabulous start. everybody got vaccinated. they really got their act together and then they too were hit with the delta variant, so this thing is obviously a moving target every single moment and we have so many other variants that could certainly pop-up but you know, talk to me about the fact that you had shuttered some of them as it appeared that we were emerging from covid. you've now reopened four different locations? can you talk about that and how that's going and what kind of adoption you're seeing from travelers? >> sure, so at the beginning of the pandemic, we closed our 50 airport wellness centers, our spas, and on july 1, we reopened four of our historic busiest centers, to see the climate. we have a lot of people returning, very enthusiastically for our services, but there's still some people that are a little uncomfortable with a high
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touch service in an airport environment, so we're working on protocols that will create more space, but also, the people that are maybe on the fence to come in, because the airports are getting busy, most people are concerned about safety and returning safely, and the spa business is one of those services people love, but it can be discretionary so we're making it easier. liz: doug satzman of xpresspa on the new partnership and the testing program with el al airlines thank you so much keep us posted on new partnerships, thanks. >> okay, will do. liz: today's countdown closer rolling the dice on sin city, the $427 billion man up next, to tell us which gamble has the best odds of giving your portfolio a winning hand. closing bell nine minutes away, we're looking at the russel 200t
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, nasdaq is in the green, just about everything, except crude oil and gold. ♪ when i was young ♪ no-no-no-no-no please please no. ♪ i never needed anyone. ♪ front desk. yes, hello... i'm so... please hold. ♪ those days are done. ♪ i got you. ♪ all by yourself. ♪ go with us and find millions of flexible options. all in our app. expedia. it matters who you travel with. . . . .
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with nearly two decades in business, over a billion dollars in transactions, and more than a half a million clients worldwide u.s. money reserve is one of the most dependable gold distributor. ♪. liz: here we go, the final hour of trade that matters the most. s&p 500 needs a new record. nasdaq up 74. better late than never, right? we got to check robinhood once again because today is the day it has popped above the ipo price of $38 a share with a gain of 22.25%. robinhood shares stand at $46.05. nevada reinstating a statewide mask mandate due to the delta variant danger. even though as the saying goes
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the house always wins can casino reits, real estate investment trusts win out against a fourth wave of covid? is it "the 5th wave" or fourth wave? our "countdown" closer is willing to take the bet on the answer to that question. he is going all in with his 427.6 billion in asset under management. greg cool is a portfolio manager who specify these type of things. you're be picking casino reits. make your case. >> on the casino reits it is interesting proposition and it is not what you my first think. if you look what happened last year at the outset of covid, the casino reits have leases with the casino operators were some of the only types of property that collected 100% of their cash rents in full throughout the pandemic. that included periods where those casinos were mandated to be fully shut down. so you think about the mission
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critical nature of these buildings, how important they are to those operators, we feel really comfortable that those rents will be paid. that those contracts will be honored. so you know, when you have an opportunity to buy something like that at an attractive valuation, as might happen in times of distress or negative sentiment like we've seen with covid, we think that is really interesting. liz: we've had those guys on too. i agree with your perspective on this because we're going to get through this and casinos are not going away so wouldn't you want to be buying when they are certainly at a slight discount? they have come well above the lows from one year ago, but hey, we're at the lows for the moment. let's talk about vici by the way. they're performing better now than they were pre-pandemic. what do you see for the future of that along with wynn resorts,
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mgm, some other names? >> yeah, good question. so i think vici being in the ownership position of the real estate is really interesting because this is an asset class within commercial real estate is relatively new and it is being institutionalized sort of as we speak. so vici has only been around for a public company for a few years. one thing they have been successful at going out, acquiring more assets at really attractive pricing leased to high quality tenants like caesar's for instance or they are under contract with the venetian in vegas right now. the price they're paying for these assets is really attractive relative to pretty much any other type of commercial real estate especially when you think about the security of those leases regardless hot operator is based on the quality of assets. so we think you get a really good yield with these companies and good valuation. liz: true. yeah, reits got those dividends.
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greg, i need your macro picture on the markets right now. we're literally one point away from an all time record on the s&p 500, even as there are so many question marks swirling around the world what with covid an inflation. do you have any sleepless nights or are these opportunities overall to be invested in the stock market right now? what do you see as far as any correction is concerned? >> yeah. it is certainly hard to have a lot of confidence in the macro outlook in the short term. i think what we try to do is look a little bit more long-term, think about where can we position ourselves to be in the path of growth, be beneficiaries of what ultimately is going to be kind of the other side of this pandemic. so in terms of short-term corrections i can't say i have a tremendous amount of visibility what may happen in the short term but long term, i think if we put ourselves in the path of secular growth at good valuations like vici and casino
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reits we'll be in good shape. liz: greg kuehl at henderson. [closing bell rings] too close to call for the s&p. we're close to a gain of 35 which would make it an all time record. "kudlow" is next. ♪. larry: hello, everyone, well-come to "kudlow." i'm larry kudlow. in washington the conversation about infrastructure and budget reconciliation is running hot and heavy. both the good, the bad and the ugly. right now nothing is really completely clear, not the outcomes, not the spending, not the scoring, not even the taxing though let me tell you, there is going to be plenty of spending, plenty of taxing and unfortunately plenty of weird scoring to go along with it. nowf
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