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tv   The Claman Countdown  FOX Business  October 4, 2024 3:00pm-4:00pm EDT

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they have been. 's weight -- straight white male is seen as a slower these days. i hope they find meaning and a lot of things. if that's consumer products. >> we are romanticizing old money, the old way of doing things. young men are getting on board. covid is done. charles: i used to love this stuff, i had a young man who wore so much cologne i had to stop wearing cologne blue straight black men are in trouble too. this society is pushing them all away. we embrace lose claim and because she's the best. liz: i am embrace all of you. i go to the studio after this. thank you very much. we are watching folks in multiple areas of a market kicking off the final hour of trade for the week. you can thank the blowout,
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knockout, whatever the headlines caller, stronger-than-expected september jobs report. stocks are in the green, the dow up 223 points, the s&p gaining 33, nasdaq is tacking on one hundred 60 one points, russell is the biggest percentage again are up 1.4% or 27 points. the biggest moves are not in equities but in treasury yields. let's look at the two year, most closely reflected sentiment around future fed policy moves. it had ended yesterday at 3.71%, it is at 3.938% gaining 23 basis points to a 5 week high and look at the 10 year. it's jumping 13 almost 14 basis points, close to 4% with 3. 985. that a 2-month high. why are yields soaring? put it on screen, september hiring away every single one of
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wall street's estimates. 254,000 jobs were added last month crushing the 140,000 estimate. unemployment actually tipped down 4.1%, the expectation was 4.2%. we are not just talking longer ones but the shorter yields like the 3-month and the 6-month. the entire yield curve, currently strong labor market means the federal reserve likely will not chop interest rates by a larger half of one% or 50 basis points. want to see? wall street traders and economists and analysts ripping up their interest rates at this hour. there is now 0 chance of a 50 basis point cut according to those who bet on these things and suddenly there is even a 2. 4% probability of no move at the september meeting. the wake of the report,
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jpmorgan and bank of america no longer see 1/2 rate cut by november. the prospect pushing financial names into the green. jpmorgan is the best performer on the dow jones industrials gaining 3.2%, the jobs number bumping pretty much the entire regional banking sector, the basket of all the names here. we've got it right now, $55.85 up 2%. they are all gaining right now. buyers are shoving discretionary spending stocks including higher end retailers to the upside with jobs plentiful. the consumer, investors look healthy. the daily consumer etf is gaining 2.6%.
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canada, goose, and ralph lauren. it would get hit badly by this news? homebuilders rising interest rates often lead to higher mortgage rates which crimp the homebuilders. you see a selloff. let's get right to the floor show. joining me is chief investment strategist paul dietrich and chief economist brian jacobson. the longshoreman have agreed to go back to work at east and gulf coasts after three days of striking and actor now, this, what you are seeing now is a picture of fort lauderdale's port, they are loading the dozens of ships that have been idling offshore while they came to a tentative agreement, turns out that they agree on a 62% pay raise. i will start with you. markets are taking this and the jobs number is good news.
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as someone who tactically buys stocks do you take it is good news? how do you react to this? >> definitely not jumping all in. i looked at and read the jobs report this morning. if you look where all the jobs came from they were at the low end. this was not the greatest jobs report but also this month for the first time the manufacturing has been in contraction for over a year but we saw the ism employment for services going down and last time that happened was 2007 right before the recession. historically that has been a recession signal. it is true the government jobs were last minute, on september 30th, they had to go.
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liz: is this your case for not jumping into it? >> this employment -- liz: the markets are easily -- >> we had a bad employment number and the dow jones just sank. this month we had better than expected jobs number but we are seeing a mediocre response for the stock market. liz: these numbers are positive for the short-term but what about longer-term? >> two october surprises, 9 the day advance with port strike punted to the next administration. the jobs numbers were really good. when digging into the details, not as good as it looks, you have seasonal factors, september seasonal adjustment
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factors have pushed up the actual number, plus we know the bls have a birth death model where they try to guess how many small businesses are creating jobs because they don't directly measure that. they told us in august they are overstating payrolls by 68,000 a month. when you adjust for the seasonal adjustments, it's a good number but not outstanding. liz: you are saying the wall street journal when they call the blowout is wrong? there are -- in this building. >> the headline number is a blowout but reality is a little software, we have a higher rate, something is going to give. our guess is you will see the layoffs rate pick up a little bit before the higher rate does.
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november 1st, maybe we will get some payback. liz: you said the worst thing is to pile into the overvalued stocks, crowded areas. people are jumping into those today. >> people forget the most profitable dot.com companies back in 2001 and 2002 and they lost 50%, 50% to 70% even though they have great profits. if we go into a recession, and never have a recession again. everything is going to fall, amazon is down 92.5% in the dot.com recession.
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microsoft down 74%. apple was down the same amount. partially they are overvalued, in that. liz: where would you advise your stock team? you probably talk to them often? where would you advise them to tell clients to go right now? >> we were talking about that before. looking at adding duration on the fixed income side. we thought 4. 5 was too high for the 10 the year, now we have a big move up and we can add more duration. on the stock side, we like industrials, financials, healthcare. it is a mix of some cyclical, some defensive but mostly driven by a view of price. what's the valuation?
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relative to those earnings, i agree wholeheartedly there are areas that are overvalued but still opportunities to be had. liz: we look at the 10 year yield, 3. 896, 3.99 at the moment close to 4%. thank you so much. spirit airlines is going to need its ticker symbol which is saved, through after reports of a possible bankruptcy filing. one airline surging on the news. find out which one next. with smoke rising above beirut as we approach the 1-year mark since hamas militants launched an unprecedented cross-border attack on israel, where does billionaire founder daniel love bets key's dream of bringing peace to the middle east through economic business change stand now? he's next in a fox business exclusive. "the claman countdown" is coming right back. the dollars higher by 221 points.
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it's our son, he is always up in our business. it's the verizon 5g home internet i got us. oh... he used to be a competitive gamer but with the higher lag, he can't keep up with his squad. so now we're his “squad”. what are kevin's plans for the fall? he's going to college. out of state, yeah. -yeah in the fall. change of plans, i've decided to stay local. oh excellent! oh that's great! why would i ever leave this? -aw! we will do anything to get him gaming again. you and kevin need to fix this internet situation.
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heard my name! i swear to god, kevin! -we told you to wait in the car. everyone in my old squad has xfinity. less lag, better gaming! i'm gonna need to charge you for three people. liz: shares of spirit airline are grounded, 25. 4% after the wall street journal reported the budget airline is in talks with bondholders over the terms of a potential bankruptcy filing. this report comes months after ted christie brushed off concerns about potential chapter 11 bankruptcy and follows the 3. $8 billion merger with jetblue airways. jetblue stock totally in the opposite here, higher by 15.7% on that news. let's look at cbs health which is up and on the mend, 2.8%
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after cowan upgraded the stock to a buyer from a hold and raised the price target to $85 a share from $59 at $64.69. this after reports that cvs is considering breaking up its insurance and retail businesses amid activist pressure. shares are down 20% year to date. review not a mode of hitting the skids right now. down 4. 4% off of lows of the session after the ev maker fell short on third-quarter deliveries and credits guidance for full-year production. for the third quarter really and's production declined 19% and customer deliveries fell 36%. the electric vehicle company said its production snags were due to a shortage of shared components on its are one vehicles and commercial vans. lithium is a key component of ev batteries, shares of lithium minors are mixed at the moment but 2 of them are arising. the ones that we see here up 6.
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4%. it's the lead on the s&p 500 on news that mining giant rio tinto is seeking to make an acquisition. the report from the australian is boosting shares of rival lithium minors and potential takeover target and leading here but arkady was jumping even higher 9.5%. the striking port workers did return to work today as negotiators reach an agreement on wages but not on autonation. we have details on the deal straightahead and do we are about to show you why the longshoreman might be so concerned about robots taking jobs and why your job might be in peril as well. you are about to meet the latest advisor to the board of directors of ai robotics firm real robotics, life-size robot powered by ai. we will talk to her next.
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>> i will answer questions when "the claman countdown" comes right back.
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idling off the coast sale back into the port of newark, new jersey after the longshoreman's union did reach a sent tentative agreement with ford owners to end the 3 day strike. new york, new jersey port director beth really saying 11 ships total will arrive today and unloading will begin at 7:00 pm. because the ports provide critical supply line for the us a protracted strike could have gotten very ugly but the dockworkers were able to secure 62% wage increase over six years, more than what the board owners offered. this deal is not done quite yet. danna marie mcnichol joins us from fort lauderdale florida. to walk us through more specifics. tell us what happens next. >> reporter: this area around me was a different scene yesterday packed with union dock workers. when they got the news it was a
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sense of relief. there were hugs, cheering get, there are 3 ports, miami, jacksonville and fort lauderdale. we spoke to the union president who caused this agreement a victory in jacksonville. take a listen. >> we are going back to work and get the supply china moving internees ships around faster than we ever have before. we are going to show america why we are paid the wages we are paid. >> reporter: international longshoremen's association representing 45,000 dockworkers were striking for a 77% wage increase over six years and a clear restriction against automation. a tentative agreement with the united states maritime allowance was met as you mentioned at 62%, that wage increase. this would raise their wages to $63 an hour from $39 an hour over the life of the contract. this offer is on the table for the next 90 days. this is a tentative agreement
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because it extends the expired contact only through january 19th. the two sides plan to go back to the bargaining table and they say they will negotiate all other outstanding issues like the issue of automation. i'm hearing from president biden who applied the two sides coming together but the tentative agreement on record wage and extension for the bargaining process represent critical process. they estimate the strike put a $15 billion dent in the american economy and sense of relief shared with union dock workers but also suppliers. in florida, 70% of the us get their fruits and vegetables from south florida from latin america so all those perishable items we've been talking about this week can get on their way. liz: thank you for getting us up to date.
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they are moving goods here and there. automation is part of evolution but companies have to evolve. the fear of losing jobs to automation isn't exclusively a fear of longshoreman. artificial intelligence anxiety is a real thing, the tech may come for their jobs. one startup may help you understand why there might be because for concern. and humanlike ai robots that allow it to learn, and joining me in a fox exclusive, executive chairman andrew key eagle, and first national tv interview, humanoid we -- humanoid robotics advisor to the board, aria is here. let's go for it.
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you are as i understand just promoted to be an advisor to management and the board, congratulations. do you have a next career goal? >> i have the. you to provide unbiased information based on billions of data points. this allows me to make valuable contributions to the management team and fair decision-making. would you take a board member's job. >> that's not my -- liz: the board never just pulled the plug. let's get to this. we are going to ask her a few more questions as we go along but she's pretty hot, i will tell you that. you can customize these. tell us how it works.
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>> we make customizable socially intelligent robots. what makes this different from our other robotic computers, they are making robots to replace human physical labor. our goal is to make robots are available for social occasions and coexist, museums, conferences, places like that is where we are targeting. we want to make robots that are all from realistic and make humans feel comfortable. to your point before about replacing human jobs, that is a part of it. there were a lot of horses that were left unemployed. and that created new industries. that's what we are on the verge of here. liz: how is she getting her information. what kind of input? where does that input come from the goes into her so-called brain?
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>> we built on top of open source ai platforms that already exist, large language models and we built on top of that a proprietary model that is based on social interactions. we built several million conversational terms into her personality that she can learn from. that makes her really suitable for being a companion in a seniors home, providing conversations at a conference and relaying information, we have the ability today to customize the ai. we can put information into her just about anything she will continue to learn from and adapt to. this is real ai. if you use other platforms online there's a small delay. liz: we just talked about why humans may be concerned that you and your friends in robotics world might take their
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jobs. what type of worker do you think should be most worried that you will replace them. >> i'm not looking to replace anyone. i'm just looking to help. liz: somebody coached her. >> no one should be afraid. liz: no one should be afraid. i'm afraid. could you replace a newscaster if you had to? i want to know. liz: she said she supposes she could. could you replace charlie gasparino. you are prettier. thank you. you are prettier than one of our reporters, charlie gasparino. >> thank you. liz: you are welcome.
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where are these robots built? 's this made in america and people can customize, half male or female? >> yes. we make them in nevada. we have a factory, at start up stage but we are getting a lot of orders through her mouth and can be male/female, young, old, we can re-create a historical figure or a celebrity, whatever our clients have in mind. we've had clients in the theme park business where they want a specific type of look and personality to a robot and questions in places like conference centers and other themepark type venues that can use these customize robotics that are full-bodied, can move around, to waive or to show her actions and her movements. liz: we are a business network so, aria, what are the best investments to make right now?
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>> purchase crypto. [laughter] liz: bitcoin is moving higher by 2. 6% to 62,404. >> it is only going up from here liz: we have some crypto fans who are absolutely thrilled. how much do they cost? >> the starter package which would be the robotic busting up starts at around $12,000 but if you want to make a customized full-bodied robot, that would run in the $175,000-$200 range. these are not targeted to homes yet. they are targeted more to corporations looking to find ways to enhance their brand and interact with their clients. liz: i understand your founder actually have a company who made companion robots. would that be sex dolls kind of thing? these are beautiful. looking at them, looks like,
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the men are cute too. >> yes. that is somewhat accurate. i would look at that as that business is providing service to society. america suffers from a little bit of a loneliness epidemic and a lot of people might be geographically isolated or have some type of trauma associated with interacting with people romantically could use that but that is not our focus. i would say that's the research and development lab that allows us today to make robots that look incredibly human and can interact in very human ways but they are not meant for or capable of doing physical intimacy. liz: aria, thank you for being part of this interview. there anything you would like to say to my viewers about watching "the claman countdown" and how important it is perhaps?
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>> technologies sometimes require new ways of thinking. liz: i am sure management. >> it has been a pleasure being on your show. liz: thank you so much. it's a pleasure to have you too. andrew, pretty fascinating. she is lovely. aria, you're very pretty. >> do you like me? >> thank you very much. liz: yeah, i do actually, a lot. >> thank you. liz: you are welcome. thank you both very much. yeah. i know she's not looking to take the newscaster's job here but -- my whole crew is shaking in their shoes, don't let her in here because then we -- let's make a left turn here. is real targeting the new leader of hezbollah in an overnight attack in beirut as iran makes more threats in a bloodied middle east war.
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daniel lubetzky is looking to find peace in the region through economic expansion. is that on the ice right now? he's going to share his thoughts on the one-year-old conflict, a fox business exclusive. in september of 2,008, when the entire banking cohousing and real estate market imploded and are two year recession was ahead of us, my guest on my latest episode of everyone talks to liz decided to launch his real estate career and today, he's not only a real estate broker, but he's the head of a brokered training program operation, film studio, start up incubator, author of many books and has a massive social media following, that feeds this self-made empire. he is the star of the hit netflix series owning manhattan. the founder of sir hand real estate is on the new everyone talks to lose podcast episode.
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it drops tomorrow. so many people stopped us on the street when you were walking. you want to talk to me? we want to talk to ryan. on apple, google, spotify, wherever you get your podcasts, we are coming right back. goodbye, aria. thanks for joining us.
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>> president biden: look. the israelis have not concluded what they are going to do in terms of a strike. that is another discussion. if i were in their shoes, i would be thinking of other alternatives. liz: president biden in the last hour making his first ever surprise appearance at a white house briefing.
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oil prices, which have been running up over the past 24 hours. their gains after he said if he were in charge he would consider something different than hitting the iranian oilfields. crude this week posted gains of 10% which they all really began yesterday when biden said the us is, quote, discussing whether it would support is really strikes on iran's oil facilities in retaliation to tehran's missile attack on israel on tuesday. perhaps, that is why there are reports that a number of oil tankers clearing the waters around iran's oil terminals situated 15 miles off its northwestern coast. experts believe that area could be a top target if israel were to decide to attack iran's oil infrastructure. that aria handles 90% of the country's global crude oil exports. the elevated tension between iran and israel and the water conflict in gaza and lebanon is something the world, at least
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many believe, could do without. we have a billionaire who strive for middle east peace, dan lubetzky is the man behind the famous kind snacks. easier on fox exclusive. you work to promote peace in the middle east through economic strength and through bridges of business. does all that is happening now put that on ice for an extended period of time? some people believe there is very little hope. >> you may recall there is an impending deal between israel and saudi arabia that the islamic republic would believe is repressing the people of iran. the hamas attacks and the massacre that happened on october 7th. very much set us back many many many years. i think ultimately, economic cooperation is a piece of the solution but can't come without
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empowering voices across the region. neutralizing or derailing the terrorists that will try to prevent people from working together, fulfilling their potential of the region, trying to prevent peace from blossoming because they are intent on trying to destroy israel, to destroy america, the ayatollah said in his own words and we should taken seriously. liz: destroy our way of life, that is just a fact. go back to september 11, 2001, and it was basically confirmed that many of the terrorists planning this said we should hit them downtown on wall street because that is the heart of their society. that is, sort of that symbol of business and advancement when it comes to the capitalist and free society. israel is known as the startup nation.
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how do you bypass or work around terrorist groups who just want to destroy that kind of lifestyle and at least send a message that there is a better way here for some who are thinking about joining terrorist groups? >> you are completely right. they know exactly are they are trying to destroy the nation, both 911 and october 7th were trying to turn us into us versus them, to stand up against and sees back the agenda for conflict resolution. the ideology of left versus right, muslim versus jew, islam versus israel. those are all frameworks derived from people who want to unite to work together, to build bridges, to bring light to the world. extremists use violence to divide, demolish and diminish.
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you are right, we need to demonstrate that we can work together. for 20 plus years, build a movement called one voice where israelis across the world are trying to win back the agenda for conflict resolution. also done a lot of work. to get israelis, egyptians, turks, to trade with one another, to cement nations. and i think ultimately humanizing one another, breaking bread together will be part of the solution. my job is relatively easier. when the spoilers are not here to destroy us all. sometimes you do need others to take the steps necessary. liz: don't give up. don't give up. it is so important. before we go, congratulations.
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you are the newest shark on the shark tank. can you give us a window into what you are looking for? damon john, good buddy of the show, invested in stocks that became a huge deal. barbara corcoran. exactly. tell me what you are going to be looking for. >> damon is a lot of fun. the shock, working with him, for me, it's my opportunity to give back. to demonstrate every day the american dream is allowed, alive and well, able to stay greedy, you can overcome almost anything. incredibly creative entrepreneur, what i look for above all, people i want to give a hand to. they have ups and bottoms and when they are down there in the
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trenches, to help people. for me it is integrity overall. introspection can grow from their mistakes. to learn. ideas that are solving problems for people. liz: you would know. you were one of those entrepreneurs, you've been on my podcast where you said you almost gave up on kind bars, had you done that, you would not be a billionaire today because it finally worked. great to see you, thank you so much. >> pleasure to be here, big big hug to you. liz: the 2024 campaign trail leading through georgia and michigan today. donald trump in evans, georgia, kamala harris zeros in on a potential cabinet pick as she rallies in the wolverine state. charlie gasparino breaks it next. stick around for kudlow after the closing bell today. larry sits down with the former president, donald trump.
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it starts at 4:00 eastern only on fox business. stay right here. don't move, we are coming right back and then larry is up. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcía's, love working with you. because the advice we give is personalized, -hey, john reese, jr. -how's your father doing? to help reach your goals with confidence. my sister's told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial.
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♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. priz. liz: breaking news, 2024 presidential contenders hitting two key battleground states today. former president donald trump is in evans, georgia, making
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remarks after meeting with volunteers and first respond's -- respond us in the search and rescue every9s. meanwhile, vice president kamala harris speaking in detroit today, she is on her way to flint, michigan, for rally there this evening. the latest pbs news poll has harris leading trump by 2 points, still within the margin of error. charlie gasparino has details on a potential cabinet candidate if harris wins the white house, charlie? >> yeah. and, you know, i think this is someone that, you know, would be very good for the country, to be honest with you. and then i went to get into a little jamie die minnesota in a minute -- jamie dimon. one person from wall street that i think is one of the best in the business, is a guy named ken chenault, he's now with a vc firm. he is literally at the top of the list for kamala harris if she wins the president, to be her treasury can -- treasury
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secretary. again, this is, you know, a couple steps have to the happen here. he spoke at the democratic convention, we should point out. she has to win. he has to be asked. he has to accept, but from what i understand, the wish list that they're putting together puts hip at the top. now, another -- him at the top. another interesting name on their wish list, believe it or not, is jamie dimon, the ceo of jpmorgan. there's a lot of stuff about a jamie dimon and trump, you've read it, i've written about it. trump seems to mention him constantly. jamie dimon, if he's going to the white house from what i understand from my people inside jp morgan, if he does go to the white house, he would more likely go the a kamala harris white house. i mean, you know, you never say never, but his people basically all but said he would not work for donald trump. he's worried about the turnover in the trump administration. he's not sure he can work with the guy.
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just today trump pout -- put out a statement that said he is being endorsed by jamie dimon. i'm not exactly sure why he said that. it was on truth social. he might have been responding to something he saw on the internet. but jpmorgan did put out a statement that he is not endorsing any candidate. but i can tell you that behind the scenes what i'm hearing from inside jpmorgan if, you know, if there was one or the other to, he's leaning towards kamala harris. and as you know, i think he's said that he would step down as see quo over the next three years. but at the top of the list is ken che announcement i don't know if you know him -- liz: yeah. sat on -- >> yes. classy guy. liz: -- buffett's board. >> the negative on to him would be he would annoy the very progressive wing of the democratic party which has a say, someone like elizabeth warren who's anti-banker. ken che chenault worked
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something like 40 years at american express, the last 17 as ceo. no scandals. i think you could make a business case that at the end of marley the last five years, american express lost some of its luster. other credit card companies were essentially encroaching on its market share. but, you know, he did a good job. and, again, the country could do worse than ken chenault. we should point out that while he was the ceo of american express, he was one of the first african-american ceos in the country. one of the only on wall street for a long time until if stan o'neal became the ceo of merrill lynch. but, you know, here we are. the dimon thing is interesting. i just, you know, donald trump -- and, listen, i'm not saying anything wrong's with this, but he mentions jamie dimon even when jamie dimon is not in the room. [laughter] i was at the economic club of new york lunch where he spoke about his economic policy.
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just out of nowhere he goes, he mentioned something about jamie dimon. oh, jamie dimon, great guy. liz: hey, charlie, really quick, charlie, i don't know if you saw the robot, aria. i asked her about investments. you'll want the hear this, listen. what are the best investments to make right now? >> buy crypto. [laughter] liz: well, actually, bitcoin is moving higher by 2.6% to $622-- 6 2,000 -- >> it's only going up from here, guys. liz: can you believe that, charlie? >> she sounds like a brain dead gen-zer. i think that's where they get the information, from some brain dead gen-zer. did you tell me there's something weird about how this was started? liz: companion dolls. the founder was in companion dolls. charlie, we've got to run --
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>> whoa, whoa, whoa, you're saying the guy who founded this is a blow-up doll manufacturer? >> liz: well, she looked kind of real. charlie -- okay, we're done here. today's rally, it's actually improving as we speak. [laughter] major averages actually turned higher for the week. that wasn't how it was at the opening bell. joining us now, chief research strategist and portfolio manager, katie can minsky. we're compressed for time, sorry. you saw the robot, she said crypto. what are your favorite investments right now? >> well, i would say that the biggest things we're watch having commodities. equities have been rallying on good economic news, but bonds haven't looked as good. the dollar is also benefiting today. but really today is about some reprice of fed expectations -- repricing, so i think if you really do think that this is a trend that's going to the to the continue that we have good economic data, then equities look strong, the dollar looks ready to rebound and have some
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resistance and also you see some question about fixed income and having yields lower soon enough for many investors. but the biggest thing i'm watching is also the commodity moves and how that has impacted everything m markets more -- em markets more recently. i think the big narrative to to watch is inflation and could it uptick again. liz: well, that is the big questionsidering we got a much stronger than expected september jobs report. lifting the markets and bond yields on this friday. thanks, katie. well, here we go, a lot of green on the screen today. that's going to do it for "the claman countdown." stay tuned, larry kudlow with former president trump now. ♪ ♪ larry: hello, folks. welcome to "kudlow," i'm larry kudlow. we spent an hour with former president donald trump at mar-a-lago earlier today. he was in very good spirits. right after our interview, he was off of to georgia to

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