tv The Claman Countdown FOX Business October 8, 2021 3:00pm-4:00pm EDT
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equities, coin base, any other way you will get exposure to the space? >> we have some clients that have some of the blcn, block chain. those are good if you want that exposure if you want. you get exposure to the coins to coin base, trade the exact coins. gucci and all those, at least they are unpreventable that way. [inaudible]. >> charles: got to leave it that way. lauren, indecisive session, but momentum going into the last hour of trading. >> i like it. i heard gucci. that was the last thing i heard. i will take that. charles payne, have a great weekend. ::
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>> there was one number that showed a pretty bright spot. we will tell you what it is in a few moments from now. and bitcoin, brick and mortar, say what? crypto goes main street with an in-person exchange. canada-based coin [inaudible] the ceo talks about plans for expansion including right here in the u.s. from bitcoin to bond, james bond, the release of the 007 franchise, no time to die, hitting u.s. screens. we will tack to a hollywood insider -- we will talk to a hollywood insider about money in the movie biz post pandemic. superfans of comic books superheroes frolicking in new york city this weekend. we take you live to comic-con, the biggest convention to hit the big apple since the start of the pandemic. the september jobs report, a little something for everyone. let's do the positives first. the unemployment rate ticked down to 4.8%, but the headline
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number, that was a major letdown as the economy added just 194,000 jobs last month. labor secretary marty walsh says the delta variant is holding the economy back. >> the hospitality number 74,000 job gained in that area. that was expected to be much higher. because of the delta variant, people saw less people going to restaurants. there's concerns around that. >> the fed has been preparing to slow its 120 billion dollars per month bond buying program. let's get straight to the floor show. we have david trainor, the ceo of new constructs and scott shellady. scott, let me begin with you. what do you make of the jobs report? do we have an accurate picture of the job market? if so, what the heck is it? >> i think it is more accurate picture of the job market. i mean i felt since august that the economy >> it is not slowing down because of the delta.
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they will hide because they don't make any misconceptions, that will be to have an excuse people quitting their jobs at the same time without we would start the economy and away we go, brown fire the first order we have 70% of people that have had one shot a lot of people have already had covid, what is the problem, when you make your mandate we have to totally get rid of covid and scare everybody to death, that is the problem that is the policy, not the virus and why we have the poor job numbers. people are staying home and being paid to stay home it's not going to be the delta by written the end, it's been on a decline
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sent september when we pull the car over to look at the economic engine we are going to find out it is been policy that is because the slowdown and we haven't even got into the tax hikes and spending more money, look at what inflation has done everything i could directly point this problem back to the policy rather than the virus. >> let's talk about the policy things have gotten better in terms of the delta variant the number of cases moving in the right direction especially since mid-september the survey. for the jobs report and unfortunately maybe fortunately the fed will not have the october data before they meet to decide on what to do on terms of tapering and announcing some timeline for hiking interest rates they need in early november, this is the data what policies do you expect them. >> i think the fed is going to do what they need to do just like every other politician the
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last thing any of the regulators or elected officials want is to be in office when everything goes up, that said i agree the policy is the problem and maybe the money is to lose when people are paid not to work whether through stimulus or access to credit you have economic that are potentially fatal for a productive civilization, forget economy, this is civilization i think it's more than interesting, as soon as the fed turns hawkish we get the very dovish economic data and i question the data myself, i think look we need to worry less about what the fed does and more about what the administration presidential administration does with respect and congress. >> they just kick the can down the road until december 3, we get to do all of this while they try to figure out the social
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spending agenda and the cost of it and how they're going to pay for it. the fourth quarter is supposed to be the holiday cheer, markets go up cannot be the case after a tough third quarter. >> there is going to be nothing to buy the stores are going to be empty that is what were talking about the supply chain is so broken do your shopping today they are doing and front of our faces this is what frustrates me i'm starting to get angry, yesterday biden was in illinois and i'm down to nashville we have people showing up to this job late because of traffic in the morning when is the last time you heard that. >> every day, i am late every day. here's what biden set out in front, nurses will quit their jobs, teachers quitting their jobs those are not the important numbers, united airlines since i put my mandate went from 59% up to 99% vaccinated that is his
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metric, should it concern people walking off the job, he is beating people up for the 0 covid which is not going to happen, it is the policy. >> the other part if you look at the types of jobs being created are they new jobs or jobs being restored, are they fast going jobs that they cannot fill in everyone's raising wages, some small businesses cannot afford that i want you to wrap this up, i heard you had some stock picks if you care to share. >> with focus on fundamentals, even in this overheated market there is some great value like dollar general even google, walmart, j.p. morgan these will help investors make money no matter what happens in the administration because her cash generating and still very cheap and not been caught up in the
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loose money we think they are good risk reward. >> with the disappointing jobs report sending delta and fears of why there was only 194 jobs added to the economy, this as the debt ceiling was pushed higher on thursday avoiding a catastrophic economic default avoiding that until we talk about it again early december let's go straight to the white house where edward lawrence has reaction from the biden administration. >> president joe biden putting a positive spin the last time the economy created fewer than 194,000 jobs was december of 2021 actually lost jobs, president joe biden same his plan is working and what we need is more government spending. >> the job creation in the first eight months of my administration is nearly 5 million jobs, jobs up, weight
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is up, an appointment down, that is progress and is attributed to the hard work of the american people. >> on the other side the reason that the unemployment rate drop is because 183,000 people dropped out of the workforce, wages are up 4.6% over the past 12 months cpi inflation is up 5.3% year-over-year, you are making more but able to buy less, 1.1 million jobs added back to the economy in july, 366,000 jobs added in august, 194,000 jobs added in this report, you see where this is going the labor secretary holding the party line. >> the plan is working nearly 5 million jobs since president biden has taken office we are still working to get the vaccine mandate the more inward people to get vaccinated the more participation that we see in the workplace we just need to continue to move forward. >> moving forward means spending
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more, as you mentioned the debt ceiling kick the can, democrats are pushing for a suspension of the debt ceiling taking the in their debt ceiling republicans only basic $480 billion, we will have this again. >> was half a trillion dollars at this point, between you and scott and david i'm depressed. we are only ten minutes in but we do have good news. christmas is coming, the dow was up 64 points and is up for the fourth day in a row, it can be confusing and pretty savvy of investors, such as bitcoin and imperium, there are new coins popping up every day, the one company helping to guide you in person add-ins door like an actual person to talk to. we will introduce you to coin
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nerds this afternoon and let's check the big board one more time the dow up 65 points somewhere up the high of the session which is 87, the nasdaq struggling but a positive week for the most part as were in the final 15 minutes, "the claman countdown" coming right back. ♪ ♪ ♪ remember when no dream was too big? ♪ ♪ and you could fearlessly face the unknown. (kids playing) you still can. ♪ ♪ (blowing dust) when you have a rock you can depend on for life, you'll be unstoppable. that's why over 5,500 companies rely on prudential's retirement and workplace benefits. - hello, michael youssef here. who's your rock?
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lauren: welcome back the sec has proved the closest thing to the u.s. for quite exchange traded fund both equities etf that holds the majority of the net assets and bitcoin will profit from bitcoin related activities, regulators still will not allow fund staff direct positions in bitcoin. one canadian outfit, not only allows you to take position in crypto but like to do it and person, coin nerds is dead brick-and-mortar store customers can walk in off the street, purchase crypto via cash, credit card or bank transfer and exchange them for local currency, coin nerds has an online component i guess you
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have to have an online component. let's bring in fox business exclusive the ceo of coin nerds, adam what a name for your company. it is so funny i thought brick-and-mortar was dead and now we have the super high-tech new aged crypto currency that has a retail component, why did you do this? >> good afternoon, thank you for having me on the show the reason why the we did this was to be able to allow individuals who do not have the technical capacity to onboard onto crypto and deal with the participate of the digital system. lauren: is that a lot of people. >> quite a few people you would be surprised. lauren: what kind of people are walking in? are you seeing jen why millennial's or older folks. >> you have a lot of the boomers and the gen x that is comfortable coming into and person presence, due to the fact that there is a lot of incidents that have happened with online exchanges like with coinbase
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6000 users were impacted as you would recall. >> the issue with the exchanges if you can't get someone on the phone when there is a problem or question, it is impossible to solve that issue talking to a human being but i guess you eliminate that because you can walk in or call and see a real person. >> it makes it a lot easier to be able to communicate with a real person on the end and having them walk you through the whole process from the beginning to the end. lauren: do you plan to extend? >> yes current extension plans opening up a location in miami, currently in the late stages with a couple of landlords that we selected for site location and we are hoping to serve the miami market pretty soon. lauren: what about other countries outside of the u.s. are regulators are scratching their heads saying we are not going to band bitcoin in crypto
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currency but how do we regulate and if we act to slowly do we push the talent outside the u.s. to other countries, what other countries are looking promising to you right now? >> we currently have plans in process to expand into brussels we just completed our construction for store and are hoping to bring an operational capacity very soon. >> are you in el salvador, now they went all in crypto, you can get a haircut and paper in crypto currency i'm sure a lot of people are saying how do we do this. >> correct we have not had any plans to move into el salvador that might be something with a local agent on board. lauren: that is interesting, wet token, we kinda talk about cerium, litecoin, bitcoin, more popular ones but which one are using the most action? >> is cerium and polkadot are
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the two hottest ones on the buy side. >> does that change frequently, if so how frequently. >> it depends on market conditions, most people look at it as an opportunity to invest in a theory and has plummeted new improvement proposals. it is actually been able to onboard additional users without the hurdles he would face with bitcoin. lauren: i think bitcoin says specific investors would say is here to stay, would you say that with all crypto's majority of them will stay but a lot of them have no real use case you might see a lot drop off the map sooner or later. lauren: we heard calls that bitcoin goes to 100,000 by christmas from 50 or so thousand that attack right now and that does surpass the high of 64000 during the spring, do you see a going to 100? >> i don't see it going to 100 but i think it will reach close,
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my estimate is 84000 u.s. for quite close to the end of the q4. lauren: what was that number. >> 84000 u.s. lauren: we will take it, when people come in regardless of their age what is their most common question or concern that they ask. >> the most common question how fast will i be able to get my coin will i have to wait several days for a transaction to complete will i have to wait several days to onboard a register within exchange and the answer is this relatively quickly we can do it within 5 - 7 minutes from the moment that you walk in and the moment you have coins. lauren: is not free, what is your fee. >> we charge anywhere from 0.98% of the weight of 5% depending on the volume with the transaction. lauren: i think your biggest asset is trust, when you look at the crypto space is it?
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an unknown to somebody people, we are starting to get used to in terms of making it mainstream. but if you can trust it, maybe that takes the edge an appeal but that certainly helps for mainstream. >> correct, it does help for people to walk in interest on the other side of the counter in interact in a comfortable environment without having to wonder who are they sending the money to her who would assist them if they needed any sort of help they can get that all at coin nerds. lauren: when will we see a coin nerd and miami? >> we were expecting q1 of 2022. lauren: one other question x rp, you don't carry x rp, is there a reason why? >> due to the fact there's a lot of concerns from the sec in respect to the token being a security and we've exchanged to stay on the regulators good
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side. lauren: that is what canada is saying correct? >> that's what the u.s. is saying and due to the fact that we have expansion plans coming into the u.s. of q1 of 2022. lauren: you will have a legal regulatory headache adam, thank you for the time. >> thank you, have a good day. >> from coin nerds to comic con is back, the avengers, star wars and "star trek" descending on new york for the first time since the pandemic began we are heading straight to the javits center for a peek inside, but check the markets with about 38 minutes left of the closing bell. the dow is gaining, up to ten sub 1%, 63 points, the s&p barely higher and the nasdaq the loser done a quarter of 1%. "the claman countdown" coming right back. ♪
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lauren: it is, con big comeback after going completely virtual comic big around the world and their wacky costumes, how is this year's convention keeping fans on their face masks in their superhero masks as hard to do with the first in-person event and a long time let's see how lydia hugh is doing she is joining us on the javits convention center. i like the hair, a nice touch. >> it is been a lot of fun, thank you for noticing my spirited hair. everyone is excited to be back in person at the javits center for comic-con the first time since the pandemic, it's a little bit of a different feel although the costumes are the same, there is a requirement for masks and proof of vaccination for those over 12 years old,
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under 12 proof of a negative covid test but the fear that we have been talking to they don't mind one bit. >> it feels like no time has passed i feel like we were just here five seconds ago but i'm thrilled to be back. >> what are you most excited to do this weekend. >> hang out with my friends and nerd out about all the cool things that we love. >> even though it's quite crowded believe it or not they scaled it down and usually they have 250,000 fans come through the javits center but this year it is down to 150,000, they also have fewer vendors and some of the big names that are here places like marvel or d.c. comics are not here this year and the organizers say that is cutting into revenue. watch. >> 30, 40% less in the ballpark but again we are really focused
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on the community bringing people together and celebrating that together, that is what the show has always been about. >> this is a big opportunity for the fans to get back together, help the community and collect memorabilia like comic books. if you look at. see hard-to-find comic books from the 1970s, almost $ just some change. lauren: there is a hot market for collectibles, one question for you, what shoes are you wearing, can we see your shoes, your footwear. >> to some black sneakers. lauren: i knew it. the javits center is so big, there is no way you can report from there all day and high heels. i like the sneakers. thank you, have a great weekend. the pandemic is creating winners and losers in today's fox
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business, rising after blowing past the quarter, the rapid covid test maker posted more than $500 of revenue field mostly by the covid test up one and a quarter% at 13793. take a look at holy down, that just 9% at the highs of the session j.p. morgan raised a rating on the alternative milk product maker they see it going to $21 a share but that momentum, shares right now down a penny. home depot slipping to the bottom of the dow after capital downgrade in the home improvement chain ended blows to hold the firm blaming the ongoing supply chain crunch and the potential for the fed to raise rates next year which would affect your purchase of a home and they moved to the sideline. home depot is down two thirds of 1% and lows is down half 8%.
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30 scene blockbuster ticket sales after the uk premiere last thursday, no time to die has grossed $121 million internationally this far and analysts only expect that number to go up as it hits u.s. theaters while james bond could have movie theaters struggling to rebound from the pandemic we will see cofounder and executive chairman, thank you for joining us. >> good to be here. >> does the movie industry the great content to save the industry? >> yes, in general everyone wants to see good content there's nothing like the bond franchise to bring people into the theaters but the demand for good content has exploded so i don't think theaters, they're definitely not going away i think the rebound post covid has been slower that said two of the last four weekends have seen numbers go back above where they
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were in 2019 pre-pandemic i think we are coming out of the woods. lauren: why is that because people feel more comfortable because the cases have gone down or is it because there is movies to see. >> a combination of both, everybody has gotten used to living with covid but vaccination has really kicked in in case counts have dropped and there is great movies coming out, i got my tickets to see no time to die for tomorrow i'm super excited and i think most people are ready to go see something go beyond just streaming. lauren: do you think the solution to back to normal or whatever normal for the movie theater industry is vaccination for children, i save that because a lot of family say i don't want to put a mask on my kids for two hours, i don't want to expose my children like that we can stream these movies at home is vaccination for kids the solution. >> is going to help my wife and
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i have two little girls and we are not bringing them to see kids movies at the theaters there watching those at disney at home and my wife and i are going to the theater were vaccinated and where mask and we would love to bring our kids to see them with us that is the path out but meanwhile your audience, investors, they don't need to sit on the sidelines in the popcorn, they can participate in what is an exploding opportunity and content financing, the market is coming back strong and there's a real opportunity to provide capital to the studio that are barely keeping up with the amount of demand from the streamers. lauren: that is where your business comes in. >> right. >> i run a marketplace called slated i'm always seeing everything to that particular lens but essentially covid has gotten under control production had went back up, an explosion of content creation and an
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explosion of demand, we all witnessed it the streamers cannot get enough good content to fill 24/7 and theaters are looking for more good content, we have seen the gap in the market where the studios cannot keep up with the content, they do not have enough f-uppercase-letter capital partnerships expiring and then there's opportunity for anyone who wants to get good returns because the return profile on the risk profile distribution has improved dramatically, stream is untrue streamers are acting as a backstop for the dvd revenues of the '90s and the 2000, there is an incredible opportunity for investors if they can get into the right vehicle to partner and co-financed studio movies. lauren: how do you get people back in the seat there doing the simultaneous release or the direct to streaming and summer say no were gonna stay in the
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theater first, how do you make going to the movies cool again. >> great movies is going to draw people in this spectacle is exciting people want to see something special, there is zoom coming out a couple of weeks that will be a big draw and it's a question of people needing to get comfortable again and safety go to the theater that they will not get sick in the experience remains as good as it used to be ivory even to the theater a few times and it was super refreshing after year end a half of being cooped up at home everyone has cabin fever and needs to get out of the house in cm movie, theaters are here to say. lauren: amc saying will accept crypto, that's not what is going to take. >> there is a huge amount of buzz and excitement and wealth created in the crypto space. i don't think it's crypto per se that will bring theaters back, i
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think it's in good content that said the crypto wealth could be financing the next series of studio movies you don't just have to sit on the sidelines in the popcorn you can own a piece of the upside of some of the big movies and put the crypto work. lauren: when are you going to see no time today. >> tomorrow. lauren: i'm going to matinee we have our little girl the daycare in the evening. lauren: tesla saying sia to silicon valley as they pack up and move the headquarters to the lone star state, that's not the only big change in the days ahead for the billionaire, charlie brexit coming up next, in the meantime a countdown to the final closing bell with a volatile week but did not weaken the end the dow up 26 we will see if they can hang onto the gains claman countdown coming right back.
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lauren: breaking news facebook acknowledging users could be expanding technical faculties between the messenger an instagram platforms, this comes days after they saw adages for nearly six hours. right now shares at 330, they are still in the green up a dollar 22 but there is something to watch we do not want to see another outage and if we do we want to know why sirius xm on a downgrade to j.p. morgan the bank moving to the sidelines as car sales slowed down because of the chip shortage in subscriber growth, j p.m. price target is $7 a share, a dollar lower and that's where sirius xm shares the trading at 608 for a decline
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of 3.4%. oil cost $80 a barrel for the first time since november of 2014 at 7960 now, the oil and gas prices continue to search demand for ed's gross, guest which one is trying to make bank, elon musk and he's announced tesla's move to austin in terms of their headquarters to austin last night charlie gasparino is here. >> let's unpack the oil numbers, it is fascinating one reason i find it fascinating j.p. morgan had a decent report recently and they attributed to two factors, number one pandemic globally is subsiding. they think this will be a secular, it's gone is a pandemic or at least were heading in that direction j.p. morgan was following stats about the 1918
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virus in the spanish flu they think this is it that does not mean more deaths it means or means people should give up on vaccines or social distancing but globally it looks like were on the back end of this, if you believe the reasoning that combined with esg the whole investment i think it's a fad in a scam but basically some do everybody is basically cutting back on their energy usage and there will be a push to cut back on oil usage and oil expiration will go down that will cause oil prices and gas prices to go up if you put those two things together on top of the fact that were coming out of covid it looks really good for tesla. lauren: why tesla and not gm which doubled down.
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>> if you remember tesla was first on the best brand name usually that will pick up first, we should look at tesla's share price over $800 a share a lot of people say, again i don't recommend that people buy stocks i'm just telling you what i see out there. if it breaks out of $800 there could be a decent run up and that will increase elon musk's net worth right now the richest in the world 200 billion, they say it could break out enough end-of-the-year he will be worth $300 billion, that would be insane. lauren: all the eggs are not in the tesla basket he has spacex. >> that's on spacex but on the back of this. jeff bezos gave his ex-wife 35 billion, not million, billion, that is pretty amazing not saying she doesn't deserve it, she does but could you
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imagine being handed 35 billion like it's $35. lauren: that's what it's like for them that's why they give so much away. what you make of elon musk quitting fremont for their headquarters they still make cars but moving them to austin governor abbott has tried to say it is because of our social policies and elon musk is try not to go there but do you think he is really there? >> i listened to joe rogan the comic and he does a great podcast i listen to them every day when i workout at the best way to get through a 6-mile run in my view, he and elon are friends there is a reason joe rogan moved to austin and i believe the same and is very close with elon the same reason elon is moving california has become a dictatorship, if you look at business regulation it is insane, the covid regulation was massive and gavin newsom
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telling people to keep your mask on while you're at restaurants and pull it down in between bites the guy is out of his mind with the slick hair and libertarian leaning businessmen, comics, whether joe rogan or the other people they are going to move to austin, texas because of that, i know he does not want to create a big stir but elon musk has that you're a joe rogan and joe rogan has a elon musk and broken caused him to move that's what i believe, i just hear the chatter of joe rogan and i know he's friends, remember elon musk got in trouble because spacex has a military clearance he must've gotten trouble for smoking pot, he was puffing on the big stuebe. lauren: i remember that how can we forget that now were showing the weird robot person video.
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>> my view it's rogan that got him there and he'll be the 300-dollar man in texas that's why abbott loves it so much. lauren: sometimes silicon valley or other places moved to texas the culture of texas will absolutely change. >> have you ever been to austin. lauren: i've never been austin is as bad as california and you're going to get. it's an amazing place without the taxes. it's like california without the taxes. lauren: thank you. >> and the super cold weather. >> it is hot weather. >> not terrible weather in california. >> terrible have terrible weather. coming up automakers slammed by the supply chain crunch but today's closer has been aimed at some companies that are avoiding the issues pinching production
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it is interesting with six minutes to the close the downturn negative you can see the red on the screen towards her right, what are you saying charlie? i think it's a facebook news what is going on with one of the major companies to a small gain the nasdaq is down 73 points in the s&p 500 is down 57. ♪ etirement plan with voya keeps me moving forward... even after paying for this. love you, sweetheart they guide me with achievable steps that give me confidence. this is my granddaughter...she's cute like her grandpa. voya doesn't just help me get to retirement... ...they're with me all the way through it. come on, grandpa! later. got grandpa things to do. aw, grandpas are the best! well planned. well invested. well protected. voya. be confident to and through retirement. i'll shoot you an estimate as soon as i get back to the office. hey, i can help you do that right now.
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hike to its quarterly dividends and it repaid 500 million dollars in debt. those shares up 13% this week. but stalled out at the bottom of the s&p 500 is moderna. they've come a long way this year, but shares falling as some countries in europe pause the use of its vaccine teens, citing side effects. that stock down 10% this week. as the supply chain continues to cause a shortage in just about everything, today's countdown closer has two names to beat the backlogs and take your portfolio to nothing short of green. let's bring in a portfolio manager. miles thanks for joining. >> thanks for having me, lauren. >> you like a company that's in industrial, make ball bearings, for instance. and element solutions, a chemicals company because you say they can beat the supply chain crunch. how's that? >> we like both of those companies. the bearings company and they've got a big after market business and a lot of parts of their
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business are doing pretty well. for example, they have big exposure to renewable energy, which is their largest end market. but they issued a press release a few weeks ago where they withdrew guidance from 2021 and cited significant customer and supply chain disruptions. but they also said that momentum and demand is strong in their business. they think the industrial economy is going to do well in 22. and they expect to see a lot of pricing, so in the case of that company, we think the largest part of the weakness is tied to the auto end market, and we think that will ultimately prove to be transitory and push into 2022. in the case of element solutions, it is kind of a similar story. this is a really high quality specialty chemicals company that makes products that are essential for their customers' manufacturing processes. throw off a ton of cash, asset light business, a great business. they also have some nice secular growth markets including ev's and 5g networks. but they also have big auto exposure. that's caused some weakness in that stock as well. and so in both of these cases,
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they're well off their highs and trading at really attractive multiples. so we think this is an opportunity to get in this really good companies where the outlook for 22 and beyond is quite promising. >> miles, thank you very much. that does it for us on countdown to the closing bell. "kudlow" is next. [bell ringing] >> hello everyone. welcome to kudlow. i'm larry kudlow. well, folks, i know headlines everywhere calling the september jobs employment report abysmal and showing people don't want to work, gloom and doom, all because the top line number was a lousy number. it was 300,000 below consensus, expectations. so i'm reading and seeing dismal, gloom, and doom. people don't want to work. the government doesn
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