Skip to main content

tv   The Claman Countdown  FOX Business  October 16, 2024 3:00pm-4:00pm EDT

3:00 pm
on this and really going for that and. not going to folk them together for the house. going to say that i would have thought massive appeal and. the economy and also going for that and spending right on 43%. >> going for us over to theline market today. >> whipping around wednesday and final trade. liz a day after all the majors s and the russell lost ground on the surging high and going for the last few minutes and take a look at dow jones going 340 points and the dow needs to
3:01 pm
erase all 325 points that have fumbled yesterday and we're there and up 27% and nasdaq up going for mid caps in the lead and biggest percentage. goings for morgan going for a record on the third quarter profit beat and going for them and going for the basket of banks.
3:02 pm
looking at floor director. and going for 1999 and it is now as you see at a fresh peak. financials muscle up some of the biggest names in technology, cannot get out from underneath the fear that a sean: a bubble losing air. asml, a bell weather for the semiconductor industry and make as very tools they need to manufacture advanced microchips is still getting smacked. shares right now down another 7% on top of yesterday's 16% drop. applied materials and meta, amazon, microsoft in the red and asml said the demand slow down
3:03 pm
had nothing to do with ai just on a motive pc and memory chips which leads to the question: if one fat fingered earnings mis-punch revealed disappointing 2025 can swamp tech subsectors, not over the time to expand well beyond the tech horizon. getting right to the floor show and the company is 16 trillion and chief investment officer aaron gibbs. that selling reaction to asml news sure looked hair triggering and what is that telling you? >> i think cli clients are very conscious that we're in a bubble for the economy and going really nice on monday and we're flirting with new all time highs today and minor change in
3:04 pm
expectations and trajectory on earning ands going for the global sector and going for finance and 16 trillion mentioned is a focus on diversification and advancement of the next crisis. and liz: where do you see the real chance and upside and like that right now and insurance. >> they were really beaten up and a lot of negative sentiment around that working in florida still making headli headlines ad
3:05 pm
there's about a 5% spread, and i think it'll be removed within four weeks as soon as they start reporting and it's like an easy 5% making over the next four weeks, but overall it's a great defensive. liz: except they're not as highly va valued and some of the banks trading around 9.9% and 4% for prudential and 3% for bright house and compare to some of the big ere bank names and financials and visa. it's at 28.
3:06 pm
>> right. they make their money off of the net interest and yields become more normalized and seeing more potential earning growth flow. liz: more earnings growth. rich, you mentioned we're very close to record highs for the dow, s&p and nasdaq. here we have the dow jones industrials up 322. again, they need to be up 325 to erase yesterday's loss. we were there at the top of the show and not quite there yet. that said, we're very, very close.
3:07 pm
david einhorn had very interesting letter saying it's at nosebleed levels and warren buffett sharing at bank of america and other names is a signal to david iron einhorn yoe got to be careful and stocks show it's time to pair the equity positions and exposure. what do you think about that? >> sympathy that valuations are stretched and so for every dollar you put in, you're getting twice ongoing earning ands fairway to put it is the u.s. stocks will have to deliver twice the earnings growth as those americaning frontier economies just to keep up.
3:08 pm
those economies are benefiting for the rate cutting cycle and emerging frontier markets aren't one size fits all. it's the share policy and either by pegging the currency and u.s. dollar or by half of emerging market debt is issued in our country and mainly the u.s. dollar. we have the nuclear power plants. liz: there's a headline and the
3:09 pm
transformer 25 is going to cost to reorder the main power transformer for three mile island's nuclear reactor, which will open -- reopen in pennsylvania will cost about $100 million this. is big chunks of change. people want to know how to catch the tail. >> there's a couple of uranium miners and it's an interesting play and it's been traded with china and it's been ahead of developing those nuclear plants and i'm sure you covered 3-5 years running and it's a volatile commodity and buying when it's at its low.
3:10 pm
there's going to be con taint demand and there's a stabilization in the base rate and this is a great opportunity and liz: thank you very much. the dow a at record and 332 points and green on the screen including united airlines taking tafanely the skies at this hour and stock hitting highest altitude in four and a half years and we'll tell you why. that's next. plus, airbnb ceo brian chesky here in studio live to launch the cohost marketplace, which enables hosts to now make even more money by banding together to manage listings and guests. the "claman countdown" is is coming right back. don't go away. ♪
3:11 pm
3:12 pm
it's time to grow your business. create a website. how? godaddy. coding... nah. but all that writing... nope. ai, done, built. let's get to work. create a beautiful website in minutes with godaddy. ♪ (alarm sound) ♪ amelia, turn off alarm. amelia, weather. 70 degrees and sunny today. amelia, unlock the door.
3:13 pm
i'm afraid i can't do that, jen. ♪ (suspenseful music) ♪ why not? did you forget something? ♪ (suspenseful music) ♪ my protein shake. the future isn't scary. not investing in it is. you're so dramatic amelia. bye jen. nasdaq-100 innovators. one etf. before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com.
3:14 pm
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. 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!
3:15 pm
i'm gonna need to charge you for three people. liz: clear skies ahead for united and shares of the airline are flying higher by, look at that, 13.8% to the top of the and p500 after beating on third quarter profit and forecasting fourth quarter earnings above analyst estimates. united also announced today a 1.5 billion share buy back program and united airlines is hitting up more than 4.5 year high and it's results are acting kind of as the wind beneath other airline's wings at this hour. american gaining about 6.5% and delta up the same 6.5% and alaska air group picking up 2.8%. from the runway to freeway and auto maker announced $625 million joint venture with
3:16 pm
lithium americas to mine raw materials here in the u.s. with electric vehicle batteries and the shares are skyrocketing 23.6% on the news the deal will see gm acquire a 38% stake in lithium americ nova vax having o good very bad day and the covid-19 influenza combine vaccine. n nova vax said one person reported muscle soreness and for
3:17 pm
now the stock is pulling back. cisco rallying after nabbing an upgrade at citi group and rating from a buy to neutral and boosting price target from $52-$62 and up $56 up 3.5% and citi seeing untapped opportunities in the ai space for cisco meaningfully add to the revenue giant valuation. crypto's clout could very well tip the balance of power in congress. we've been talking a lot about presidential race but in congress. super-packs representing the crypto voting block and catapulting to the big stage. could their backing take down the powerful chairman of the senate banking committee? we'll talk to the chief legal officer of crypto exchange and coin base on attacks of sharrod brown of ohio. and why the crypto verse made reelection race the most expensive in the country.
3:18 pm
the cl claman country-specific n is coming right back. "claman countdown" is coming right back. so your bank should be too. like, chase! ♪ i have type 2 diabetes, but i manage it well ♪ ♪ it's a little pill with a big story to tell ♪ ♪ i take once-daily jardiance ♪ ♪ at each day's staaart ♪ ♪ as time went on, it was easy to seeee ♪ ♪ i'm lowering my a1c ♪
3:19 pm
jardiance works 24/7 in your body to flush out some sugar. and for adults with type two diabetes and known heart disease, jardiance can lower the risk of cardiovascular death, too. serious side effects may include ketoacidosis that may be fatal, dehydration that can lead to sudden worsening of kidney function, and genital, yeast, or urinary tract infections. a rare, life threatening bacterial infection in the skin of the perineum could occur. stop jardiance and call your doctor right away. if you have symptoms of this infection, ketoacidosis, or an allergic reaction. you may have an increased risk for lower limb loss. call your doctor right away if you have symptoms of infection in your legs or feet. taking jardiance with a sulfonylurea or insulin may cause low blood sugar. ♪ jardiance is really swell ♪ ♪ the little pill with a big story to tell ♪ meet kandi technologies, where innovative, eco friendly design meets exceptional performance.
3:20 pm
our diverse portfolio includes utvs, go carts, golf carts and e-bikes. explore electric investment opportunities. kandi technologies. with gold and copper prices pushing towards all time highs, us gold corp. offers investors leverage to both gold and copper at its project, and mining friendly wyoming. u.s. gold corp has a reserve of almost 1.5 million ounces of gold equivalents. permits to mine zero debt with only 10.73 million shares outstanding and a portfolio of world class american strategic metals assets. u.s. gold corp, join the golden age.
3:21 pm
3:22 pm
liz: crypto political cloud is expanding and keying down
3:23 pm
marginal races and it's razor thin and democratic incumbent and gnat banking committee share sharrod brown leads bernie moreno by one point in the latest polling. they've courted them and their money. liz: the ohio senate race is evidence of credit toe influence and how is the super-pack using the power? just through money? >> well, thanks. first of all, thank you for having me back on and yes, money unfortunately is an important
3:24 pm
even if unsatisfying reality of our current politics and coin base had supported the fair shake super pack which funded a number of different eff efforts short term orientation support and oppose in ohio and we think what this reflects, liz, is an emergence of crypto voter and a real recognition by politicians on both sides of the aisle. is democrats and more that it's not lost on them. liz: it's a dead heat and maybe slip a kitten's whisker between some of the numbers in the polls and it's fascinating to see some of the races and power of crypto and some has a lot to do with the fact that bitcoin is on an incredible run and over the last
3:25 pm
two weeks up 11%. power of the money that's floating mechanism underneath the super pacts continues to expand in a way that what i find interesting is that looking at house race and the republican incumbent and look at list of most important voter issue and the economy, crime, boarder and don't really see not all will
3:26 pm
have crypto as single issue or most important and consider picking one candidate or another in the presidential race or down ballot races but crypto will be a factor. so many races and the winner decided by a slim margin and in of these races, the margin of victory is equally slim and what they want from them, whomever they elect. liz: what i find extremely interest asking that a lot of ads that the super pacts are
3:27 pm
running in support of certain candidates and don't mention crypto. they don't mention crypto currency. >> they need to make sure candidates stand on a range of issues and crypto is a important issue in the race and etch race voters making decision on positions that are addressing any number of other issues.
3:28 pm
the candidate's responses tells you all they need to know. if i want to win, they need to pay attention. liz a we're paying attention to all the races and the presidential race is huge and yesterday donald trump unveiled family-backed token and let's talk a bit about that. that was 1.7% of outages on the website. does tafanely thah
3:29 pm
crypto voters and going for them and it's coming down for time. speaking for them and the president trump interest and commitment to crypto being part of them and same week of them and underscoring the need for crypto currency frame work and going for messages and going for them and considering they hope to lose and different ways and varying degrees and each of them going with a similar conclusion to win and crypto matters and however we do it and going for people to expect to see crypto in the future. and the donald trump fact and he did it first. and forward thinking about that
3:30 pm
and we look forward after the election. going for congress and they start to realize wait a minute they're being told to back off of this or that and going for that and going to hope for it. >> better progress on legislation and going to address for them and going for coins and it's the number of issues that congress going to date. it's a win/win for everyone. liz: fascinating develop p.m. could be the first crypto election and going for coin base. thank you so much.
3:31 pm
>> going for them and going for hurricane milton. we're coming right back, go away. ♪(voya)♪ there are some things that work better together. like your workplace benefits and retirement savings. voya provides tools that help you make the right investment and benefit choices. so you can reach today's financial goals and look forward to a more confident future. voya, well planned, well invested, well protected. after last month's massive solar flare added a 25th hour to the day, businesses are wondering "what should we do with it?" i'm thinking company wide power nap.
3:32 pm
[ employees snoring ] anything can change the world of work. from hr to payroll, adp designs for the next anything. when you're looking for answers, it's good to have help. because the right information, at the right time, may make all the difference. at humana, we know that's especially true when you're looking for a medicare supplement insurance plan. that's why we're offering "seven things every medicare supplement should have". it's your free, just for calling the number on your screen. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free. and there's no obligation. you see, medicare covers only about 80% of your part b medical expenses. the rest is up to you. that's why so many people purchase medicare supplement insurance plans like those offered by humana. they're designed to help you save money and pay some of the costs medicare doesn't. depending on the medicare supplement plan you select, you could have no
3:33 pm
deductibles or copayments for doctor visits, hospital stays, emergency care and more. you can keep the doctors you have now, ones you know and trust, with no referrals needed. plus, you can get medical care anywhere in the country, even when you're traveling! with humana, you get a competitive monthly premium, and personalized service, from a healthcare partner working to make healthcare simpler and easier for you. you can choose from a wide range of standardized plans. each one is designed to work seamlessly with medicare and help save you money! so how do you find the plan that's right for you. one that fits your needs and your budget? call humana now at the number on your screen for this free guide. it's just one of the ways that humana is making healthcare simpler. and when you call, a knowledgeable, licensed agent-producer can answer any questions you have and help you choose the plan that's right for you. the call is free. and there's no obligation. you know medicare won't cover all your medical costs. so, call now and see why a
3:34 pm
medicare supplement plan from a company like humana just might be the answer. vizsla silver has consolidated one of the largest high grade silver projects in the world in mexico. we've just released our pea and that's the first step to production. we're massively undervalued, with less than 9% of our known veins having been drilled so far. customize and save with liberty mutual. customize and sa— (balloon doug pops & deflates) and then i wake up. is limu with you in all your dreams? oh, yeah. only pay for what you need. ♪ liberty, liberty, liberty, liberty. ♪
3:35 pm
3:36 pm
lift the state of florida still cleaning up the west coast after hurricane milton made landfall last week and second major hurricane to hit the sunshine stated. going for homes impacked by
3:37 pm
helene and milton and florida's orange farmers and citrus and huge taking a major blow as well and orange crops lost more than 3 million boxes to the storms. ashley: there's no doubt that orange juice prices will go higher and this year's harvest was expected to be lower than last years, but then we had hurricane milton come right overhead here in polk county, which is the biggest orange producing county in the entire state of florida. in some cases the winds pushed and uprooted the trees themselves and those are already gone. they cannot be salvaged and in the other case, mostly the fruit just fell to the ground and if you think that could be salvaged, well, think again. >> that loss and we weren't quite to maturity and there's some harvesting going on but
3:38 pm
most of that fruit that's been blown off the tree was not quite ready. probably a month, month and a half out from being ready to be harvested and go to the processing plant so unfortunately there's nothing we can really go with that fruit. ashley: usda says they're expecting about 15 million boxes of oranges for this year's production that . by the way is down 16% from last year. it's also the lowest output since 1933. in 91 years and in fact the owner of this grove, a fourth generation grower says this year's crop again has taken a big hit. >> we've seen upwards of half of the crop lost as you already mentioned and we have significant tree damage and so we've got a long recovery ahead of us. ashley: it's not just here in florida that suffered with orange production, it's a problem around the world, brazil, world's biggest orange producer is going through a terrible drought right now and is also facing that same greening disease that has affected the crops here in the
3:39 pm
u.s. and as a result of that, less product coming to the market, you know what that means, liz. higher prices and this time, for oranges. back to you. liz: yeah, one of the negatives from hurricanes down in florida for sure. ashley, thank you. after back-to-back hurricanes did hit the southeast, leaving thousands displaced, airbnb stepped up to provide free housing for americans who lost their homes or were forced to evacuate. the home state company had 600 airbnb h hosts graciously open their doors in south carolina, north carolina, florida, and georgia that got hit so hard. i have the cofounder and ceo brian chesky. you guys have been amazing in crises like this. offering it free? >> yes, offering for free. to date, we've housed 6,000 people around florida, georgia, south carolina, and north carolina. this is part of a larger effort. we have a group called air
3:40 pm
me.org and its mission is to provide housing for those in need. to date, we've housed 250,000 people for free. people displaced by disasters and refugeeses. refugees from ukraine displaced from the invasion, afghanistan. we've housed a quarter of a million people and one thing every company should ask is what natural superpower do we have as a company to be able to help the world beyond our business model and we can house people that need it. liz: how long do they get to stay in the homes because it takes forever to build a house these day s? >> yeah, we work with -- we work with resettlement agencies and they process the guests and then the hosts, they can determine how long but typically for a couple of weeks at a time and a few weeks at a time. depends on the host family and what they can accommodate.
3:41 pm
wee wright not have solved the problem and i remember sered in my mind the people in the super dome and shouldn't have to sleep in the giant stadiums and arenas and like refugee tents and staying with families and that's what we're trying to do. liz: you're also trying to give your hosts newer opportunities to wring some money out of the website. there's a brand new effort and cohosting effort. explain what this is. i find this really interesting. >> this is a big deal. this is a big deal.
3:42 pm
airbnb is we asked people who aren't hosting you can make tens of thousands a year with ans isn asset you have and they perceive hosting as a lot of work and from what i understand in new york, there's a home effective and we thought what if we match people that have homes and don't have time to host and would people have time to host and don't have a home. build a marketplace and that's what we did. it's the cohost network and over 10,000 of the very best hosts in airbnb. liz: haunching today. >> launching today and the best thing is their best host and average rating of 4.86 and some of the best hosts and go on the site. if you want to make some extra money at your house and don't want to host, go on airbnb and see cohost and we'll match you to the best cohost to you and you can send them messages and
3:43 pm
negotiate how much they'll take of your earning ands that's in your control and you negotiate with them. liz: the job is be there and let the guest in and make sure that the sheets are washed after ward. >> yep, everything from -- everything trust worthy setting up your listing and managing the guest communication and managing the calendar and checking in the guest and making sure they're taken care of during the stay. cleaning the place, turning it over, et cetera, et cetera. liz: this is smart. one thing i noticed is since you guys got up and running, things sprout off of you and management companies saw a opportunity and they were making money off airbnb hosts who did had a deal with the pain and the thing you have to deal with all of that. you guys i would imagine looked at this and said this is a cottage industry and not getting any of the revenue. >> there was a bigger issue here and it was the average reading for a third party property
3:44 pm
manager is 4.62 out of 5. that's below average. the average rating of a cohost in our network is 4.86. much higher quality and third party property managers and some of them are excellent and we wanted to make sure every one of them was excellent all at once but this is essentially airbnb vetted community and we have all the cohosts in the met work and more. liz are management companies saying you're hurting us? what are you doing? >> we'll launch it today and find out. we love management companies that are great. we love anyone that's on our platform providing a great experience and we'll continue to invest in the third party companies, but we're also going to build a community to be able to match cohosts because the heart and soul of airbnb is every day people sharing real
3:45 pm
homes, and i think this brings us a bit closer to that. liz: yeah, definitely. to be clear, a potential cohost doesn't have to be an actual host. >> a potential -- we have 10,000 cohosts. they're all hosting on airbnb. all have history and we wanted to only have great hosts so we only added people to the network with a great track record. you can apply and we'll require you to have hosting history with airbnb first but if you have a hope, you don't need any history and come on and we'll watch you with somebody and be confident no know the people on the network are going to take care of your home. liz: how does this add to your bottom line? your stock up 15 or so% and year-to-date and ask this add meaningful number s? >> absolutely. the way this will add is it's going to add more supply. when you add supply like so if we have hundreds of millions of
3:46 pm
people book airbnbs every year, but we have a billion and a half unique devices logging in and the reason people don't book an airbnb is they see a home they don't like. this is potentially millions of new ho hopes in the network. we also know when you do more housing and housing prices go down and add more supply of airbnb of homes to the network and they become more affordable. that will increase more demand. liz: really quick. holiday season how is it shaping up and seeing real pockets of strength. >> we are seeing a lot of -- first of all, we're seeing really solid bookings on very confident with some of the travel ceos talking alaska the election and not seeing tafanely affect our business. liz: yeah. >> we're seeing like really like solid -- we're feeling really, really great and as far as where we're seeing people, we're see ago lot of people wanting to go to beach destinations and ski
3:47 pm
destinations and in europe, there's a lot of europeans going to austria, french, and swiss al pes and people in asia going to the southeast asia and united states a lot of people going to the caribbean and other areas. there's a lot of different movement, beach and ski, for the holidays. liz: where are you going? >> probably the caribbean. i'm have up state new york and i grew up in cold winters and probably go away from the snow. i'm from albany so we'll see. liz: brian chesky, airbnb and top money watcher says lookout below. the s&p 500 will top 6,000 before crashing down. today's count down closer tells us whether he agrees or says that's just horse feathers. ♪e fu
3:48 pm
... before investing, carefully read and consider fund investment objectives, risks, charges, expenses and more in prospectus at invesco.com. introducing the second chance offer from betmgm. what'd he say? if you bet on a player to score the first touchdown and instead he scores the second? boom! you get your money back - in cash. straight cash? second chance, you heard? what if my guy fumbles, and some other guy scores first? second chance. what if you need a second chance to land on the field? this offer only applies to touchdowns. you alright? i hurt my spleen! get the second chance offer from betmgm. the sportsbook born in vegas.
3:49 pm
the world needs more metals to empower a growing population. west red lake gold is embracing the opportunity with unmatched expertise and rapid production. they plan to pour their first gold in 2025. west red lake gold, mining done differently. han is 22 years old. he's not just a pet, he really is a part of our family. knowing that he's getting good nutrition, that's a huge relief for me and my dad. (sings) old bean piglet head yes that is your name. if you saw his piglet head you would say the same. toot toot.
3:50 pm
so, what are you thinking? i'm thinking... (speaking to self) about our honeymoon. what about africa? safari? hot air balloon ride? swim with elephants? wait, can we afford a safari? great question. like everything, it takes a little planning. or, put the money towards a down-payment... ...on a ranch ...in montana ...with horses let's take a look at those scenarios. j.p. morgan wealth management has advisors in chase branches and tools, like wealth plan to keep you on track. when you're planning for it all... the answer is j.p. morgan wealth management.
3:51 pm
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. 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.
3:52 pm
liz: we've got breaking news. vice president kamala harris taking the stage right now at washington crossing, historic park in pennsylvania. she's going to be joined by more
3:53 pm
than 100 republicans including former gop lawmakers and ex-trump aides who have endorsed her. later she's going to sit down for the interview. the big interview with fox news bret baier on special report. former president donald trump also visiting fox news today to appeal to women voters in a town hall with harris faulkner, edward lawrence has been watching the movements today and has more on the 2024 race live. reporter: liz and that countdown is centering around fox. we've seen both candidates on it. you talk about the vice president. her remarks even a few hours ago landing in pennsylvania have become more personal. listen to this. >> at this point do you think donald trump needs to take a test? >> i'm going to say what i've said publicly and will say many times based on my observations and of many, donald trump is increasingly unstable. reporter: now former president trump believes that his economy
3:54 pm
will happen through strength, while economists largely see tariffs as a tax. the former president sees them as incentives. >> the higher the tariffs, the more likely it is that the company will come into the united states and build a factory in the united states so it doesn't have to pay the tariff. reporter: and a fox news town hall in front of an all-woman audience the former president says tariffs also protect. listen. >> we have a tax rate that's going t lure them and we're going to protect them with tariffs so they can make money and so they don't get stolen but we'll have report setting jobs and just to know, the advantage i have is that i've done it. reporter: so the china expert michael pillsbury helped develop this tariff strategy against the chinese for the former president. listen to what he says. >> i think he is building on what he learned the first time around but i think it's not known to the public the algorithms that were used and how focused and how much finesse was involved in these tariffs in 2019, 2020, as i said
3:55 pm
they got results. the chinese side and many other countries that were involved in this kind of trade negotiations. they made concessions quite quickly that i think otherwise would not have made for years. reporter: former president trump believes that his tariffs would not increase prices, because the first time around when he put tariffs as he was president, prices did not go up. others disagree. liz? liz: edward lawrence thank you very much. okay, folks, closing bell ringing in about three minutes. dow is closing in on a record 333 points to the upside. it needs 324 points for the 38th record close this year. the s&p for its part has reported 46 record closes so far this year, but one equity strategist is making big waves saying he's unimpressed. stifel financial says the index could see a 10% increase to 6,400 before dramatically
3:56 pm
reversing course next year. in fact he predicts the benchmark index will plummet 25% to approximately 4,700. that's rather poultry because right now we're at 5,842. joining me is the guidestone funds president brandon pizorro, 23.7 billion in assets under management. you've got a lot of coin. i'm interested to know what you think. >> yeah, thanks for having me. down 25 is certainly a bold prognostication, but people with varying senses of determining where things are going. we don't see down 25 as a base case by any stretch of the imagination. i know he actually had a strategy call he would see it down 20 in 2026 back in july he called for down 10 by october, so we respect everyone's opinion. none of us have a crystal ball but that's not our base case. we still see resiliency in the market continuing to play out today. liz: do you buy "record highs and if so what? >> well you have to dance while the music is playing and standing on the periphery of
3:57 pm
the dance floor is not one way to continue to have the left in markets. we think being balanced is certainly prudent. things have gotten ahead of themselves, people fully priced in the rate cuts but if you aren't in the market you have missed out on quite a bit but there's never a bad time to get in especially if looking at that dollar cost averaging the old tried and true way of getting into the markets but sitting on the sidelines is no way to reach for your financial conditions at the end of the day. liz: i like that. sitting on the sidelines or the side of the dance floor, you're plot going to start disco dancing and having fun. it's not fun. all right, so you're out on the dance floor and who are you picking as a partner when it comes to stocks? >> yeah, we're out on the dance floor. we like a couple areas. obviously financials have opened up the earnings season this week and they had some really tremendous results. a lot of the big banks have done a great job. what we like is kkr is one example. everyone knows them. the alternative investment manager that has private credit, private equity, et cetera but a lot of potential catalysts baked
3:58 pm
into this name. what they are trying to do is really bring alternative investments downstream to the retail investor. now still accredited of course but the retail investor have a partnership with american funds, capital group, and it's bringing things to the non-accredited investor. they just acquired global atlantic, so there's a lot of catalysts in the name. we see more upside for them. it be a great dance partner. liz: listen when the music stops you're still making money with names like halliburton. they have good dividends right? >> they do, absolutely. good place to stay. energy of course has been shown to a large degree with a recent run-up. halliburton is a great place. they have not only a great portfolio, diversified assets. really high-quality assets overall. but if you get further upside in oil prices we think they stand in a great place. liz: brandon, the fed right now isn't front and center but what are you expecting for november because we've gotten some data that look very stable, if not slightly hotter-than-expected
3:59 pm
and i'm thinking ppi, when some cases cpi, so tell me what you think. >> you're right. earnings are front and center. we have a pretty light calendar from a macro standpoint this week, but from the fed's perspective we see there's a 97% chance fed fund futures are baking in for a 25 basis point cut in november. we think that's prudent. we think not doing another 50 obviously the market is not leaning in that direction but we're starting to see that cadence. really this is the easy part of a cutting cycle. we're getting from a really high level down to normal level so to speak but then to cut threw that normal level that long-term range and go down further that's the tough part so we're in the easy part of the cutting cycle. stocks continue to get a lift and see the momentum through the end of the year. liz: we'll get more clarity tomorrow when we get retail sales, so we'll be watching for that. brandon, as we finish up because the closing bell is coming. give me your just gut feeling about how long a bull market can really last here.
4:00 pm
>> well it surpassed and defied expectations if you look at the traditional recession indicators inverted yield curve we've blown through those so markets continue to make us look foolish so to speak. we can continue well into 2025. it doesn't mean it's a straight 45-degree angle up. there's fits and starts and that's healthy but we might be at the early innings of this bull market cycle. liz: well, people who disagreed in the past have been burned so thanks, brandon we fresh it. >> [closing bell ringing] liz: folks it does look like a record for the dow jones industrials here. lots of green on the screen, tomorrow, robinhood, don't miss it. we'll see you then. larry: hello folks welcome to kudlow i'm larry kudlow. so president trump hammered away at the key issues in today's fox news town hall with harris faulkner. economy, inflation, energy, border. we've got liz peek, rachel

2 Views

info Stream Only

Uploaded by TV Archive on