they might be in a pretty good sweet spot for a buy on a quasi-dip. rob, ken, thank you both very much is. really appreciate your expertise and that energy because it's important. folks, you know what, listen, no one knows where the market's going, but when you do the work ask let the market speak to you, it's a lot easier. you don't have to make it complicated. a lot of green on the screen is, it makes me smile and liz claman too. liz: the miles davis rally you just talked about, that makes me smile. [laughter] i'm looking for the jackson five rally. [laughter] the nasdaq still higher, looking a little fragile. it fell back below 16,000 after hitting the magical mark for the first time ever, we're at 15,970 right now. markets did take off at the open, that is for sure, propelled by the pfizer covid treatment pill news and a tell lahr october jobs report.

the dow jumped 560 point -- 360 points, the s&p and nasdaq running to their seventh day of records in a row. again, i don't want to overstate any kind of slight pull off the highs, but we are still gaining 206 points if the dow, s&p gaining 18 and the nasdaq up 28. so has the pandemic finally been smothered? the moves both up and and down in four key stocks at this hour indicate that the virus that brought the world to its knees is at least gasping for air. our floor show traders firing up their cameras to tell us what the action this peloton, zoom, uber and delta airlines says about how or whether you need to shape up your portfolio for a post-pandemic world. the message air airbnb's stock s sending, it's a company that can survive ask expand under both scenarios. after just a crazy quarterly earnings report, is the real growth about to explode starting monday? the ceo joins us live on the

significance of november 8th and how air airbnb is ready to flinp the revenue doors. and place your bets, draftkings reports jaw-dropping revenue and monthly unique payer growth, so why is the stock suddenly now slipping in the final hour of trade? ceo jason robbins here live to explain why he says online gambling, at least in his company, is still a sure thing for investors. but breaking news, we really do need to go straight to peloton right now because not only is it in the midst of an excruciating 34.5% selloff right now, but the fact that no buyers can really be found for what was the hottest stay at home trade during the pandemic lockdowns is speaking volumes. during the lockdown a year ago march, look at this chart, the connected fitness company became the ultimate stock symbol of the workout from home movement. it went9 from $23 in march of 2020 to $171. but a major hiss on both revenue

and earnings last height and rice actions in these roping -- price actions in these re opening plays, livenation, planet fitness, uber and air aib which reported its first operating profits, look at this. delta airline shares moving higher by 7% after the air carrier reported a 450% surge in international bookings in the six weeks since the united states said it was going to reopen for fully vaccinated visitors on november 8th, right? just a few days away. zoom video is doing a mirror image from the other side, down 6%. the contrast not lost on investors who piled into stocks on that no ifs, ands or buts strong october jobs report which made it very clear with a gain of 531,000 jobs that people are returning to work this a big

way. finish is it now time to throw out your stay at home and work out at home and transition to a reopening portfolio? let's bring in the floor show. we have managing director at oppenheimer, jason, the number one analyst on wall street, and we've got dory wily, commerce street capital ceo. jason, i'll give this one to you, peleoton slashed its full-year sales forecast up to a billion dollars saying demand slowing as people return to pre-pandemic habits. i mean, this stock was a lockdown standout, but it was growing well before that as, you know, as we start to see some of these headlines, is it enough to jettison that stock? >> i mean, look, we think down 30%, you know, that is a buy as opposed to a sell. it may be a nothing, okay, you know, for a month or two until people get around the holidays, but again, you look at where

the9 52-week high was, 170, now you've got the stock the at, you know, 56. i mean, that's a big correction. look, if you keep it simple, they cut the sales forecast by 6%. should a stock be down 34% when we lowered our estimate 6%? the bigger question is do they need to keep lowering the price of the bikes. ultimately, you know, hit that adjustable market, and i think that's the question investors are asking themselves. what was unique about this company is that they were actually breaking even or making money on the sale of the bike x marketing cost. when you look at most subscription businesses, they lose money when they acquire the subscriber, but then over the life of that subscriber, you make a nice margin. peloton was actually breaking even on the sale after marketing.

that's unique. so question investors are asking themselves, we could talk about the tread mill but the fact that they're having trouble selling that is not a huge surprise. and then they did admit last night that they really kind of got a little ahead of their skis, to quote another sports analogy, and just overbullet if their network. overbuilt their network. so warehouses, last mile to logistics, customer support, they may have just overbuilt it and perhaps they should have used more third party providers to allow the cost to be more scalable. liz: dory, as we look at one big piece of news coming out today, that pfizer headline, the trial results show the anti-viral covid pill reduced hospitalizations and deaths by 98%. does that give the push to reopening names? look, pfizer up 9% right now. but uber, not to mention planet fitness and some of these other names, plus the whole market is

really liking this news. do you kind of start to rejigger an entire portfolio because one, you know -- [laughter] pill that's out there now is really going to push us over the edge to a brand new tomorrow? >> well, i think the vaccine's successfulness or at least the control of the virus is part of it. liz: yeah. >> but i think people have kind of seen that coming for a while, and this pent-up demand, if you will, to get out and get life back to normal is really, really strong. and i think you're seeing that reflect itself in the market, some of these stocks that are going up today. liz: yeah. and do you look at any that are really suffering at the moment, and do you say, huh, okay, zoom? zoom is still very much a thing because if business travel does not come back like it did before the pandemic, i mean, it's obviously coming back, but not maybe to the numbers that we've seen in the past, and it's so much easier to jump on a zoom.

there's still real opportunity in a name like that. >> yeah, i wouldn't sell zoom or that technology. assuming things are going to go back the other way. i think that's equally dangerous on peloton as well. just as peloton was probably overbought assuming that the world changed permanently to indoor fitness, it's not permanently gone either. peloton's a great company. this 12-month customer retention rate of 92% is incredible. they're not just being used to hang clothes on. customer use is a whopping 17,000 a month. that's really incredible. they've got plenty in cash. what's the company worth? downward momentum, i don't know, but i tend to agree with the other analyst on the call that it's probably oversold, probably look for a bottom this here somewhere, and this will be a buying opportunity.

but this little frenzy today may be a little overreaction to the upside -- liz: exactly. docusign down about 5.6%. docusign is definitely when you talk to analysts and you talk to business people, that's apparently here to stay. jason, talk to me about what you think this jobs report tells the federal reserve. are they going to have to speed up the tapering and then push forward a little bit closer to where we are today when it comes to raising interest rates? i mean, things look pretty solid at the moment. >> yeah. i have the pleasure of covering internet companies -- [laughter] consumer internet companies, so you kind of have to pay attention to the fed because our sustains do tend to get valued on a multiyear growth basis and kind of the discount rate. but, no, i'm not a ted if watcher. -- fed the watcher. i'll testify to your other

guest -- defer to your other best on that. liz: you see that uber has managed to say it's going to figure out ways to really expand not just beyond uber eats, but they're now delivering alcohol when it comes to uber freight which doesn't get a lot of attention, but during the or supply chain nightmares, uber freight could definitely be a growth opportunity. do you look at uber and say, well, wait a minute, we see there are chances at the moment where this could really start to take off more so? >> we do like uber. we've been, you know, positive for a while. part of that time we were definitely wrong because, you know, just the stock couldn't work when no one was going to work. i'm many in my office, i've been in my office all week. and, look, the stock really started working when the company's ceo present kind of mid september at a wall street conference ask and kind of gave an update on data, and it was like, yes, we know new york is reopening, right?

liz: right. >> and certain big cities, while we're clearly not where we were, that's when the stock started working. then the second part was really competition. there's a lot of competition right now for food delivery, and to your point, like, alcohol delivery, grocery delivery, prescription delivery, and i'm like, okay, if uber can ultimately get its margins up in the mobility or the moving people around business, do the they just waste all that money in the delivery business. and they came out last night ask basically said that their food delivery business is profitable, and now they're kind of investing behind some of these other businesses. and what i want to highlight with uber, it's kind of the ultimate reopening stock because they're the only -- i mean, they're technically a super app, right? you can get rides, you can get, you know, food delivery, item delivery, but it's -- and they can sell you a subscription that gets you kind of either discounts or faster delivery or a faster ride, and their competitors can't do that.

but, yeah, no, we thought the update from the company last night was quite with attractive. liz: okay. >> you know? and, yeah, we think that the company's clearly kind of heading -- and i guess i'll leave you on this, i think uber is trading at four times our estimate for next year's sales, doordash is trade thing at 13. trading at 13. liz: it's better to go there the you're looking for the comparisons. jason, dory, great to have you both. uber getting a bump of 4.6%. a post-covid travel renaissance opening doors for companies like airbnb. ceo brian chess key is here live on what vaccinations and treatments are are doing for global vacation home rentals and if we're on the verge of a totally new vacation landscape. closing bell ringing in 48 minutes. the dow is up 218. wait until you see what airbnb

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♪ liz: from near collapse this bookings to king of the hill,

airbnb not only surviving, but thriverring. shares soaring right now by 12% after airbnb posted one of its best quarters in company history, seeing its highest net this many ask revenue ever. -- income and revenue ever. more importantly, air wnb saw a 67% year-over-year jump this revenue, besting its 2019 pre-pandemic record. so really hot business here. but while the work from home movement and ohs-pandemic reopenings -- post pandemic reopenings continue to boost travel the, next week might be the best yet to be. airbnb cofounder brian chesky is joining us live. unpack that number first, what juiced that the most in. >> well, i think that there's a number of reasons, but the most important is the world has

changed. the pandemic turned the world upside down, and i think one of the things that happened, liz are, is we are living through a revolution in how we live and work. for many people, they used to be tethered to a city because they had to go to an office. now because more and more companies, at least for office workers, have more flexible policies, people say, well, the i don't have to go back to the office, i have more flexibility. i have flexibility on where i travel, when i travel, and i can go away for longer, because with i don't have to go back to the office. because of this, what we're seeing is 20% of our business are stays for a month or longer. this is an entirely new session that's really merged. i mean, it's really accelerating. theory half of our business is staying -- nearly half of our business is staying longer than a week. borders are now reopening. president biden said on octoberth that borders are reopening november 8th. the week he said that, the week after we saw a 44%% increase in bookings cross-border coming to

the united states. you're seeing the returnable travel, really the returnable travel plus new travel converging, and that's what you're seeing with the bump. liz: monday is november 8th, the day that international travelers get to finally come back here, we open our borders. so much people have been through, but tell me exactly what kind of bookings you're seeing as we lead up to that. you just talked about a huge one since president biden announced that, but does that car ily through -- carry through beyond the holiday season? >> yeah, that's what we expect. that is what i'm predicting because it's quite hard to predict the future in a pandemic. but what i can say is the following. our cross-border business used to be half our business before the pandemic. now it's a third. which means that, you know, domestic travel has really risen. but our cross-border business is 80 president of what it was at -- 80% of what it was at its peak, and this is right before

countries are truly reopening. and i do expect holiday season, we tend to yearn for things that are take taken away from us. one of the biggest things that was taken away around the world was the ability to travel, see friends, see family, go to different places. i'm very bullish about travel, and i think that we are going to look back at on this period at the new golden age of travel. the longer we're working from home, the more we want to get out and see the world. liz: yeah. there is one thing that you guys were able to do during the pandemic, you were very fleet of foot. and what you did was you reorganized the web site to do the destinations, right? because people could really only get in cars and go to getaways that were close by. but let me stretch it out to across the world. aipac, a asia-ask, oceanic areas of the world are still in a very

tightened -- china, you have to quarantine for 14 days and constantly keep in touch with regulators, etc. when do you foresee that a shaking through and becoming more porous? >> yeah, so let me talk about our business from a geographic standpoint. north america, europe and latin america are all up higher than we were before the pandemic. the the one region in the world that is not fully recovered is asia-pacific. if the reason why is actually very simple. north america, latin america and europe all have emerging domestic businesses. and so where borders started getting closed down, people started traveling within the country and so it was rebalancing. aipac is a cross-border region, so there wasn't as much domestic travel, so the recovery will be correlated to opening borders. now, i'm not probably the best person to ask when borders are going to reopen. certainly greater than somebody's -- that's certainly

greater than he, probably government officials have a better sense of that, but i do see if the rest of the world's any indication, it's just a matter of time. the other thing i'd say, liz, is sometimes this life you can't do them anymore you don't miss them, and what i'm noticing is not everyone misses going to the office five days a week. people do hiss traveling. and i think the -- mass traveling -- miss traveling. that's one thing that's never going away. liz: you also saw some of your rivals doing very well. expedia coming in with a -- bookings saw an increase of 77%. expedia, which owns your competitor, if you will, very bow, that specific earnings report had nice booking jumps. what do you say to investors, potential invest ifers who are considering putting their money in other companies? because it's getting kind of crowded. >> i would just say that, you know, really we're in a category

all of our own. we created this category, and we have 4 million hosts on airbnb. 90% are are individuals. the vast majority of them couldn't have hosted without the tools we provide, and we have fewer hosts cross-list aring on competitors' web sites than before the pandemic. so i think in ways this is really, like, a case of, one, our brand is a noun and a verb used all over the world, and that's because we have something unique and special. and that's also why 90 of traffic is -- 90% of traffic is up paid. so that's what i would say. i think we're a really different kind of company, we're highly innovative. we're going to announce new innovations next tuesday, 8 a.m. pacific standard time. over 50 new upgrades and innovations as part of our winter release. that means we've got 150 upgrades this year, nearly 1 every 48 hours. i think this is a unique company. we created this category, we scaled it, and i think it's just getting started.

liz: well, it sure is nice when you can create a noun and a verb, xerox, tivo, airbnb. brian, we are looking a forward to your next earnings report to see how monday plays into things. folks, we're looking at records as the nasdaq inches toward the close. by the way, twitter and square founder jack dorsey. ♪ ♪ ♪ >> my name is bill hemmer, and i started working at the fox news channel in august of 2005. across the media landscape, it seemed as if even was reporting the same story the same way, and fox came along and took that same story and flipped it 180 degrees. i think that's what makes us distinct, it's what headaches us different -- makes us different, and it's what makes people watch us day in and day out.

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♪ liz: square founder jack door the city firmly taking -- jack dorsey squarely planting his flag on planet bitcoin. shares are down about 3.5% after the mobile payment company missed on revenue. a key issue was square's cash app where gross profit growth decelerated due to slower revenue growth from bitcoin.

but dorsey's saying that the company is not look to expand into crypto beyond bitcoin buy and sell offerings and that his focus is on helping bitcoin to become the native currency for the internet. so he's all in on bitcoin. sorry shiba, sorry doge. all right. take a look at all the cryptos we have charts for the, bitcoin moving lower by about $169. ethereum down $26 to 4,497, litecoin down about 1.5%. i am planting my flag on planet gerri willis. [laughter] that's where the success is going to be. >> reporter: hey, liz, happy friday to you. shake shack is up despite the burger chain's revenue missing expectations. however, the stock was upgraded saying that the fundamentals would improve in the quarters ahead. canada goose, look at this, after the outer wear maker

reported an unexpected profit and better than expected revenue and raised its full-year forecast. metaverse, the store, well, according to "the new york times" meta formerly known as facebook is discussing opening its first retail stores. the stores, which have no slated opening date, will allow the company to showcase devices like virtual reality headsets and videoconferencing gadgets that allow people to video chat through facebook. it would be the social media company's first physical stores. and coming up next, draftkings' ceo jason robbins joins liz live on earnings, sports betting and what's next after walking away from a deal with the british betting giant n tech. stay with us. ♪♪

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♪♪ liz: the atlanta braves celebrating the world series win over the houston astros with a parade through downtown atlanta. oh, why can't that be the cleveland indians? [laughter] hey! the braves world series victory snapped a 26-year drought. cry me a river, i don't care. the tribe's had a much longer drought. you think october, baseball, the sports gaming companies, look what happened with draftkings, reported a third quarter loss of $1.35 a share, a miss on revenue. they did have a 60% jump in revenue to 3213 million -- 213 million, however, despite the earnings miss, and we are just getting this news, breaking

moments ago charles schwab has just named draftkings as the official sports betting operator of the last stop on the ag tour at -- pga tour at the cup championship in teengs if, arizona, november 14th. all right. as we take a look at shares which are pulling back right now for draftkings by about 1.5%, we to want to bring in ceo jason robbins. let's get to this breaking news about charles schwab and the golf situation here of. tell us about this. >> we've had a great relationship for many years with the pga tour. we've sponsored a number of events, and i think this is just an extension of that. we're very excited to continue, we have a really, really large share in that daily fantasy sports golf market, and i think we do really well on the sports betting side too. liz: that kind of partnership can be really valuable, and dwrowft9 a bunch of partnerships as well with a bunch of other leagues. let me just start with this: or there is no doubt that sports gambling and gaming is a huge

growth opportunity that has a very long runway. i talk to analysts all the time about this, they are all in. however, there are now something like 26 different companies, jason, and this is anything you don't know -- nothing you don't know, that already have some kind of license around the united states to do what you do. so this is becoming an increasingly crowded field. tell me how, you know, you finagle or you make your interface and user experience and your odds better than everybody else on the screens here. >> well, i think it's such an exciting space, and there's such huge opportunity, like you said, so i'm not surprised to see a lot of companies that are going after it. i think that most of them are only in one or two states, and i think that national scale that we're on the pace to i achieve is really important. the investments that we've made in our products and technology, you talked about the interface. we were recently rated the

number one product by an industry expert, they're considered one of the preeminent experts. they rated us across a number of dimensions, and we rated number one overall. we think that's the most important thing. that's going to go a long way to making customers loyal to draftkings. liz: rightment but it does cost a lot of money to lure new players to your site. what is your acquisition cost to get new players onboard, and tell me how that's rising, i guess, compared to a couple of years ago. >> well, we're not if actually seeing a rise. a couple of years ago we were actually in a better place from a cost for acquisition standpoint. i think one of the unique things is because there was no legal and regulated sports betting outside of nevada for years, there was a rampant illegal market. there's a huge base of customers. it's not like a lot of other

products that are new and high growth where you're building the market. this already has a big market. when there's so many customers out there who are ready to go, who know they love this activity and are just waiting for legal options like draftkings this their a state, i think there's a huge opportunity to acquire. we're getting incredible returns on our advertising spend. we're very data driven as a company, so when we see great returns, we press the gas. when we see things softening up, we'll pull it off but right now that's not what we're seeing. in fact, if anything, it's accelerating. in arizona we reached 100,000 users in only 17 days, that's compared to hundreds of days that it took in new jersey, pennsylvania and indiana and some of the statements that launched a couple years ago. so really, if anything, we're seeing an acceleration and the returns we're getting on our ad spend are phenomenal. liz: all you have to do is sit down and watch a national football league game, and is you are pummeled, you, the viewer, are pummeled with lots of ads starring celebrities. there are a lot of creative ads.

these are multiple companies trying to grab our attention as sports viewers. that's got to cost you a lot of money. are you going all in trying to compete on that level, or i would say go for the acquisition route to grow because you can't really just grow organically, can you? you dropped the, in the-tang planned acquisition. don't you have to grow? >> everything comes down to well done analysis. we use data and modeling, and when that's determining whether we make an investment in buying media to acquire customers organically, whether that's making a product investment, we calculate what we think we can get back for it, and we measure everything against the thresholds that we have for payback. same thing as we approach m&a. we look at everything from a value standpoint. if it's something we think adds

value for our shareholders, then we'll take a look at it. host of the time we look at things -- most of the time we decide not to do them. i think because of that one being in the u.k. and having strict rules even though it was a very early stage, it had to be disclosed publicly. most of the time, that doesn't happen. we approach that for everything, products, marketing, acquisitions, everything. and i think we'll always choose the most efficient way to deploy our investor capital. liz: well, i'm all in on the browns winning the super bowl. my team is not -- >> yeah. [laughter] browns, this is supposed to be their year. i still think they've got a shot. liz: thank you. how many times have i herald sewed to be their -- heard spoa supposed to be their year? >> great talking to you. liz: thank you, jason. unlike my floor director,

austin, who gives me no love. thank you. the bind agenda hanging in the balance as the house struggles to pass mull by if billion -- multibillion dollar spending bills on social issues and infrastructure. where does this thing end? where is it right now? we're going to take you straight to capitol hill for an update on when we might see members of congress taking a vote. and we're talking to the founder of the now-super hot reddit wall street bets. jaime rogozinski is my everyone talks to liz podcast guest this year. you've got to hear how he started this web site, how he watched it grow and the original winning trade that began to happen shortly after he founded it. it is a fascinating story. the developing platform that sparked a retail rebellion. listen on apple, google, spotify, foxnewspodcast.com, anywhere you get your podcasts.

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♪ liz: we need to give you this fox business alert. shares of workhorse are down sharply at this hour, losing nearly 10%. the "wall street journal" reporting the justice department has opened up an investigation into the electric delivery vehicle company. the focus of this inquiry was not reveal ared, but according to the journal workhorse has already been the center of a probe by the u.s. securities and exchange commission. back in september the company recalled some of its vans and suspended production. it's pretty much been an ugly picture all day long, $6.53.

we need to now take you to breaking news and capitol hill. you're looking at a live picture. house speaker nancy pelosi is apparently about to speak at any moment. they've set up the microphones, and ask all the reporters have been flagged. this as the house of representatives is expected to vote on a bipartisan infrastructure bill and a rule to govern debate on the social spending bill at about 4:30 p.m. eastern time. that means the house will have decoupled the infrastructure bill from the human infrastructure, the social spending plan. but let's go straight to capitol hill. hillary vaughn is right there watching the action. hillary, we know that speaker pelosi had wanted a vote last night, but centrist democrats like representative henry cuellar of texas said, wait a minute, hold on, where do we stand? what do you think's going to happen? >> reporter: here's the problem, liz. just moments ago we did get a statement from the congressional

progressive caucus. progressives are essentially in a standoff with moderate democrats. moderate democrats want to hold on to this vote on the social spending package until there's a cbo score so they actually know how much it's going to cost. progressives are fine to move ahead with that. but now that there is this news that there was just a vote on the rule for the social spending package and then actually pass the infrastructure bill, like you said, delinking those, progressives are saying no to that. they have about 90 members in their caucus, so this really is a numbers game here. their chair, congressman pramila jayapal, said this just moments ago: if our 6 colleagues still want to wait for a cbo score, we would agree to give them that time after which point we can vote on both bills together. so if you're looking at the math here and that's what it comes down to for speaker pelosi, it is 90 progressives against 6 moderates. and so the idea is that even

though steny hoyer announced there would be an infrastructure vote and then a vote on the rule, progressives are making it clear that they're not onboard with that. so now we don't know if those votes are going to go forward. pelosi doesn't move forward unless she's sure the vote is going to go through and pass. so we're still kind of at a standstill. we're expecting pelosi to make remarks any moment from now, perhaps. she has taken a look at the progressive statement, perhaps she's taken some calls from some angry progressives who are not happy that they're trying to put the infrastructure bill on the president's desk without pushing through the social spending package from the if house to the senate's hands. liz? liz: yeah. i'm watching finish. [laughter] that hallway right there the, right there with you. all right. we will dip in as soon as we see her because it could be market-moving. let us now check the dow, up about 217 points at the moment. the nasdaq better by 15. and we are just -- i'm sorry, that's the nasdaq 100. but as we watch these markets,

investors are keeping a hawkeye view on treasury spreads, yes. but did fed chair jay powell's move to paper put a new twist and a turn on the yield curve? we hit the bond grove with the $67 billion countdown closer jack mcintyre. closing bell 9 minutes away, don't move. ♪ ♪ r, i stand by these promises: i promise to be a careful steward of the things that matter to you most. i promise to bring you advice that fits your values. i promise our relationship will be one of trust and transparency. as a fiduciary, i promise to put your interests first, always. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com (vo) singing, or speaking.

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that takes wealth. but this is worth. and that - that's actually worth more than you think. will for all it's worth. liz: closing bell ringing five minutes markets wrapping up the first week of november at record highs, all three major industries are set to close for the fifth straight week in a row the dow's longest win streak since every 2019 and the best stretch for the s&p nasdaq since august of 2020. let us show you something that is not equity related. it is bond related.

you look at a chart of the yield on the ten year treasury versus the two-year note you can see the spread between the two is narrowing which means investors are looking at sort of uncertainty about monetary policy. as you look at these the yield curve flattening the spring and jeff mcintyre, $67 billion in assets under management, portfolio manager brandywine global, good to see you, what does the so-called flattening of the yield curve, let's put this into perspective. we have the tenure at 1.44% today, wednesday 1.59%. it is coming down, what is that tell you? >> we had the bond market probably to aggressively tighten the fed tightening we seen it globally the bank of england, et cetera, markets got ahead of themselves, the simple bank is

not going to tighten as aggressively or the same timeline that the bond market stock, and our repricing. i think the bar for central banks to tighten particularly the fed is a lot higher than it is to taper and powell did a good job of telling us that yesterday. liz: what is the investment plan that you have as heavy with all these investments under management knowing that were seeing the trend continue? >> to some degree there saying maybe inflation won't be as bad. and given the dynamic we've got a lot of our money invested outside of the u.s. and emerging markets. the bond markets got beaten up at the same time and a big inflation scare, they had inflation but a world where maybe inflation is not going to be as bad and banks don't have

to type has aggressively that is a good market for the em bonds. liz: the em bought this is a fixed income. >> we are in the in asia south africa. i'm always hesitant i don't want them to pile into the individual bond markets, think of a broader portfolio. compelling value. .liz: were looking at the overweight mexican currencies. why? >> were making a best of the global economy will continue to do well, china will start to do a little stimulus, china has a huge footprint on the global economy that they will eventually start to do more stimulus and prices are going to stay high. there is some political stuff going on and some of those countries but is going to dissipate in those currency should do well. i think the broader u.s. dollar is going to start to weaken as the world starts to pick up what we seen in the u.s.

liz: even before today's october jobs report was absolutely stellar, it looked so good, we should not ignore the fact that the previous two months had upward revisions. it's a good picture but the market starting wednesday pricing into rate hikes next year, that kinda moderated a little bit. what are you anticipating now. >> i think there will be some space, i think powell wants us, when the fed ends tapering which they told us this june when they will start tightening. i think maybe they do one rate hike next year but the point being i think the fed is going to go slower than what the market had anticipated and again, that's a pretty good environment for treasury. who would've thought given the strength of today's employment report along bond will be up three points but it tells you we don't think it's sustainable in terms of inflation fears.

liz: so good to see you again, please don't be a stranger, is this a jack affect, record across the board, nasdaq 16000 it looks like it'll have to wait just missing 15970. that will do it for the claimant cut down, "kudlow" is next. ♪. larry: hello everyone, welcome to "kudlow", i am larry kudlow coming to you from palm beach atlantic university. plenty of antics on capitol hill, let's get right to hillary vaughn at the hill with the very latest and presumably the truth. the spotlight is on you. >> the truth is progressives and moderates are in the standoff that they have bee