tv The Claman Countdown FOX Business November 4, 2024 3:00pm-4:00pm EST
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we're ready for a pox americana and to your point, we could have it again. senator scott, always a pleasure, i wish we had more time and hope you come back real soon. >> thank you, charles. god bless. charles: see you soon. the market is really, really tense and listen, we've got this huge election and the outcome is still very much unknown. jim rickards is confident but people are saying play it down the middle. don't panic or do anything crazy. we are in a $30 trillion economy. there's certain things i don't want to happen. we are not trying to protect knock seizure disorders, we're trying to preserve our republic and i don't want that to go away and don't give up your chance at >> you and me together charles. we begin with breaking news. t minus 14 hours until the first
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polls open on election day. it was a tensioned filled market. the bulls are skittish and bears let ahead. if anyone is running fast is presidential candidates donald trump and kamala harris. the rivals are sprinting across multiple locations to grab who is left of undecided voters. this is video from scranton, pennsylvania where kamala harris just spoke. she will address those in allentown. donald trump in north carolina. he will now head to redding, pennsylvania. as anxious as voters an investors might be. the fear index is barely registering a pulse. investor sentiment is very moving. it's slightly down by a third of a percent. that doesn't mean markets are chill. the dow is the laggerred of the major indexes. most of the dow 30 is down.
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there is very important context we need to give you. intel and dial are both getting dunked. intel is down 2.6%. news late on friday both their memberships to the blue chips country club have been revoked. they are out of the dow 30. they will be replaced by paint chips. both of the two names are bellwethers and more representatives of their sectors. sherman williams up 4%. invidia up 4%. they took over as the market cap cou company in the nation. s&p crossed the flat line 36 times during the session. it's down 7 points to 57.21. a fraction of a drop.
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nasdaq hanging onto gains but lost them at the moment. capped by gains from a smattering of sectors. micron, diamondback, and charter communications among the winters. winters nazi tack in the week. the calendar is stuffed in an hour we get ai data within. also em badlied data sever who will grab alo al-- all of the oxygen. j powell will announce his new move on interest rates on november 7th, thursday. the stakes for you, the investor are high. sit tight through what could be wild waves or dive in. get to the floor show. joining me is deutsche bank and
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john. we have a dead heat in this election and neither side owns the win. if you look at the polls right now. what are you bracing for? what should investors brace for? >> i'll tell you, liz, it's great to be on fox business with you. >> thank you. >> i'm rather relaxed about this and compliants are if you look at the historical reference points. there is not a lot we can do unless we wait until we see the results. they have a relief rally in situations like this. once the decision is known. the most important thing, everybody would like to know who will be elected president. it's important we see a divided congress so we get checks and balances in the system either way and that, i think, gives a healthier election result for
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the market to consider. >> if tomorrow night, in the middle of the night we don't have an answer and wednesday morning there is no answer, you don't think the markets will go haywire? that's what we hear. that brings me to the investor. should they hold tight? >> there is fear and greed in the market. that's in the area of the trading floors and trading rooms and day traders. there are a lot of need investors here. pension plans and saving for a kids retirement. looking for their retirement. a kids education. longer term the market abide with the results particularly if we get divided congress. i think, there is no doubt about it, there is incredible stress here. this has been a tough election and very tight coming in here. i think, on main street, the tensions much worst really than on wall street if you want to
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look at it from an intermediatiate point of view. >> deutsche bank investors have been barreling towards the election buying equity. the equity flows and people scooping up stocks leading into the election several months rewind the clock. much higher. if you look at the charts you have been watching this and they have been barreling into equities at a faster pace than previous elections 2016 trump, 2020 biden. obama 2012. the green line is what we see now. you can see, after the decision, sure, a lot of people started buying stocks. we are not at the decision yet. >> that is exactly right, what i'd say is this election or the lead up to this election is very unusual by historical standards. we, you know, typically the
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market buys protection for the reasons you talked about. it has been buying protection if you look at the implied curve. you can see the premiums compared to the last two. the buying of protection which is negative for the market, it's essentially overwhelmed, it very influx inflews. >> people heavy equities might be in for a short-term jolt? >> so, typically, once you get a clean result, the uncertainty premium comes out and equity market rallies, you know, independent of who wins and that flustrates a lot of people that i'm talking to. it's about an uncertainty risk premium and uncertainty risk premium coming out. if the period of time for which things are not resolved, the experience is the market will sale off. no reason to believe it's huge
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or enormous. it always depends on the developments. i think most people in the market are looking for it to take a few days. >> we have a live picture of kamala harris. the vice president just arrived in allentown, pennsylvania. she is going to today have her feet placed in pennsylvania. she's not jumping around. donald trump is. as we put-up the markets here once again. you can't tell much. what would you be looking at for either side. where should people be adding stocks. if you takeout this one won or lost. >> we are favoring cyclicals over defensive sectors. look at the performance this year the cyclical, the most sensitive to the economy have been the outperformers verses the defensive stocks or defensive sectors.
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in this case the u.s. around a $28 trillion economy powered by innovation and needs of the individual investor that rivals the institutional investor in terms of incidence flewance in the market. >> you like info tech, industrial, financials, and consumer discretionary. >> okay, all right, here is communications, the s&p or the past 3 months. slc looked pretty healthy. stretch it out over the past year-to-date consumer discretionary, that's a surprise up 9% as people are concerned about the economy. overall, at deutsche bank, what is the sense of where the markets go for the rest of the year, considering we have the federal reserve meeting on thursday? >> another source of uncertainty. we should get settled this week. across all asset classes they
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are extremely elevated and big in equities. in rates, it's worst or the gap is wider. i think, in equities the relationship is pretty clear. wall comes down and market goes up and new fast money of the world is systemic strategies. they won't debate. they will buy the market. that should help the market. other asset classes, i think it's more debatable. in rates, you know, 10 year bond yield has gone up. what happens if rates fall. >> 10 year rates are diving off their four month highs. i think they went below 4.3% earlier. that's a message here now. now 4.318. great to see both of you. thank you very much. folks, listen, you are getting the message you have to
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sit tight and wait-and-see what happens especially if you are a medium or long-term investor. dow is down 228 points. lower the session down more than 4 money. no one knows. meantime, we know nuclear energy stocks are fried after a regulator torpedoed the ai energy partnership. we'll get you the whole story. sit tight next. shipping giant said they see no sure return date for it's freighter through the canal due to the threat of terror attacks on the red sea. the cost to ship cargo is spiking in a fox business exclusive. north america president of mers is here. how they throw a global trade world in a vortex. we'll have more coming up next.
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fox business alert. b ryely is down a quarter present through to exposure to franchise group. b riley is a major shareholder and expecting a noncash impairment of $120 million after franchise group filed for bankruptcy yesterday. they went public last year. their stock is down 86%. make that 87, 88% over the past year. bank of america said pelton interactive is on track for miles of growth. they are gracing the stock with a double upgrade from under preform to outright buy.
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they raised it from 3 o dollars to nine dollars. the stock is up to $7.55. last week they spiked on news they hired a former ford and apple executive. analyst say under the new leadership there is potential for higher subscriber prices and margins on hardware. shares of burberry look stylish. montclaire could bid for the retail label known for their plaids and trench coats. this is at a time they face a downturn for demand in high end goods especially in china. one deal brews and another blows up. federal energy regulatory commission blocked a deal between amazon and power producer talen. amazon was looking to hook the data center into their react tors to bypass the traditional
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electric grid. local utilities objected to the plan leaving them to nuke amazon's proposal. talen is down 2.3%. look who is collateral damage. consolation energy. they are down 11.8%. they will restart the power island plant to sale electric to microsoft. that's at the very bottom of the s&p. high stakes on the high seas, how are ocean shippers gaining out the global tariffs. we asked the head of maersk north america. dow down 247 points. red for the nasdaq. s&p losing 10 and russell popping up by 11 points.
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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. fox business alert. israeli officials are monitoring military movements in iran at this hour. iran could use more powerful warheads in the next attack on israel. according to the wall street journal officials told diplomats they plan to use stronger and more complex systems to hit israel. this is after the october 26 26th attack that weakened
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iran irans defenses. rebels over the weekend said they will notice band their blockade in the red sea many have seen skyrocketing profits to reroute the cargo ships around africa and hike prices because of that. our next guest is one of them. joining us in a fox business exclusive maersk charles. what are you seeing in the region? any end in sight to do the long end runs around the sea. >> yeah, liz. thank you for having me. unfortunately, a terrible situation for everyone involved. no real signs of de-escalation in the region. still, not safe for our customer
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goods and vets that surpassed through the region not just us they have to go the wrong route around south africa. the impact over overall available capacity. of we expect this to last well into 2025. we have expended our network to be able to help our customers navigate what we will likely be a prolonged period of disruption in 2025. >> what is at the heart of the higher cost here. is it the fuel? is it what you have to pay your seaman. i see your ocean revenue jumped from 7.9 billion to 11.1 billion year-over-year propelled by a 54% increase in freight rates. what is your outlook? how much higher they climb?
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>> if you look at the situation, liz, the primary impacts from the read sea disreception come from two key dynamics. you refer to it all ready the increase costs of fuel consumptions. the increase cost of two weeks and 4,000 miles. there is a significant cost throughout the shipping industry for capacity needed to keep the supply chains flowing. the actual disruption took 15 to 20% of capacity out of the global environment. as a result every shipping company had to invest into that shipping route to keep the flow of cus customers going. >> i hope we might have one unknown and a bit more known. donald trump facing off against kamala harris.
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they are neck and neck and dead heat. this plays into a shippers numbers. if so, policy is coming that can truly effect you guys they will administrator tariffs to the existing ones. joe biden and harris kept as a hold over. >> i get this question a lot. the important point to make the u.s. extends what's the largest lodgistic market in the world. the straight of the u.s. economy and consumer consumption are key drivers underneath. with the gdp at 2.5% growth and consumption up 2.7% year on year both for july and august. they are both very resilient.
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neither candidate or party would have interest to disrupt the growth and consumption sitting underneath. there is an exception and expectation the introduction of tariffs could effect trade. we expect the effect to be much less than effected. >> that's interesting. we saw some data here. it comes from a freight analytics platform. i wanted to show you and viewers, it's nothing you haven't seen all ready. former president trump made tariffs a major part of the chairman pain. the off contract spot price of basically to ship a 40-foot container on the u.s. china trade route soared 75% between january and november when donald trump implemented tariffs back in 2018. you see that as not as severe this time of round if that were to increase? yeah, i think global supply
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chains, this is an important point to make especially in 2018. global supply chains have been formed and evolved over many decades. with a neck work that trade with each other globally. the introduction of tariffs can have an impact on trade but the goods will have to be bought at a different location or higher price and still transported. while it's clear soph tariffs might have a impact on trade. the expectation it will have an impact on the ag aggroated trades. >> a harris president do you plan for that or see any jump or fall back on the cost of shipping these goods. we know that's passed onto the
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consumer. >> yeah, it would be the same, we believe, for both harris and or trump administration. this is back to the point of neither of the two would have any desire, we would believe, to stifle the straight of the u.s. economy and more important the consumption of the consumers within. any tariff application or tool they might want to deploy would have an impact on consumption is the tool they might not chose to opt for. if we combine them together, we expect the impact eff effectually on trade is equal. >> that's good news. charles vander steene. donald trump and kamala harris are making the their
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victory. of we are asking what harris and trump can do to move the needle with undecided voters in the closing hours of the race. the count-down is coming back. stay with us. 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. ♪ ♪ 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 ♪ 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
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election day is finally around the coroner and we are 13 hours until the first polls open in vermont. the road to the white house is moving through pennsylvania. election experts believe pennsylvania's 19 votes could be the key to a win. former president trump is holding a rally at the arena in redding. he visited north carolina today. hopscotching and finishing his day in michigan. now, that's on the right side. the left side, vice president harris will take the stage at a
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college in pennsylvania. she has two more events scheduled in the state later today. the race in pennsylvania o locked in a tie at 48% in the latest college poll. the other six battleground states have razor thin margins. there is a virtual tie in michigan. trump leads in arizona and harris has slight edges in georgia, north carolina, nevada, and wisconsin. we are live in pittsburgh with jeff. the atmosphere is pretty jumpy. >> it is. this is going to be one of the more interesting campaign rally venues i have ever seen. this is the ruin of a steel mill. that's what i it look like in the 90s. harris chosen this as the venue for the rally. this was the scene of a strike
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in 1892 for the organization of the union for the steal workers. we have pictures of her coming into pennsylvania. she's going to spend all day today in pa. starting in scranton to redding. pittsburgh we were told katy perry might sing for the crowd. there you go. the chairman pain has told jackie of fmp they will make a real effort not to talk about donald trump yesterday or today. they want what they say to be positive. this hasn't stopped harris from pointing out there are differences between the candidates. i will always and always stand with labor.
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i'm happy to stand with you glen. there is a huge difference between me and the other guy. that's why you are here to help us get out and vote. it's important for both sides. when pollster asked the likely voters who they were voting for that was former president trump. they have been blanketing multiple locations over the last few days anywhere from pittsburgh to philadelphia. harris will end on the rocky steps at the philadelphia art museum; famously in the movie that rocky ran up the steps. she said she's the underdog. that might be true. we will see. >> hard to tell with all of the
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polls so razor thin. jeff, thank you very much. candidates hit the battleground states americans showed up in record numbers to vote early this election. 75 million americans have cast their ballots in the week leading up to norm. that's a 50% increase from the 2020 election. final stretch before election day. what will be the tipping point for either vice president harris or former president trump. joining me is gop strategist and former candidate joe and harris campaign fundraiser roj. they are in the last important hours trying to scoop up or pick up last decided voters. kamala harris will stay in pennsylvania the whole day. why not head to georgia. you have georgia with an important number, 16 electoral college votes. if she trends higher there why spend all day in pennsylvania.
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>> the pathway or coalition they want. i think what is important for your audience to show, the one thing i'm confident about tomorrow and feel good, of course it's a tight election. to slow the economy down you will vote for donald trump. right now, this economy is ripping. the o stock market is doing well. major markets is high. donald trump would like to tariff us, i heard him on joe ro b rogan would like to tax increase you and me. the people of pennsylvania, georgia, and the country are saying when i'm interviewing these people to be my leader, i want the economy going. >> joe, donald trump and his campaign would say the opposite. let me give you evidence. i went to the market yesterday and i was quiet stunned at how
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expensive cereal still is. prices for an average voter, an individual in america are still pretty high, however, the point about tariffs can be made the costs will be passed onto americans, even if something is made in america, it might have been assembled in america. kamala harris and biden aren't anti-tariff because they kept some. >> if harris and biden hated them so much, they would have removed them. they left them in place and trying to tout the economic results that in many ways came as a result of the same tariffs. you see harris out there stuck in pennsylvania. don't look at what the people doing the spend for her say. look at what the campaign is
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doing. she's not in north carolina. she's not in georgia. she doesn't want to fall victim to what happen too kamala harris in 2016 when she became the first democrat to likewise pennsylvania, wisconsin, and michigan when no democrat had done it. she placed all of her marbles in the hands of the people in pennsylvania and the voters try to figure out which kamala harris i'll get. the kamala harris that was against natural gas. am i going to get t the kamala harris now. she's flipped flopped and some have moved. she didn't sell that message well. she said i learned x, y, z that message didn't get out there. maybe it is in pennsylvania.
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if you look at north carolina, that's arguably a really interesting state. the fact that it's even a bat -- not even a battleground but possible tossup here. that's pretty interesting. you are looking at 16 electoral college votes. it's a concern for donald trump. that's a state he had in 2020. he's fighting to hold it. to the point of kamala harris and her positions. she has a four year track record as domestic energy production has never been higher in america. the voters of pennsylvania can trust the fact she will continue that policy by contrast, i point out. donald trump likes to call himself a crypto bro. it's a fast new industry and can unlock a lot of innovation and can do it without a scam and he's engaged in the scam. >> he won the crypto grope.
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>> he won some donors. his token wasn't transferable. it was suppose to sale $3 million worth and sold $30 million. block chain and could c crypto can be powerful and raise a red flag for some. >> that's a lot to unpack. he's good for the crypto bros and not the market. everything will take a lot of energy. we won't have any new natural gas exploits. we won't have any new natural gas hook ups. indian point is shutdown. three mile island fired back-up. this leads to the fact the energy needs are not compatible which steps taken by harris. >> before we go, the chatter is
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virginia and new hampshire will be the early indicators and polls close around 7:00 p.m. how closely should people be interpreting that idea if one candidate owns both states. can i say something unusual. wait until the end of the night. i have done this for 30 years and i love it. we will start looking at bumps on people's heads. we have to wait for the election. get the ballots cast and hope we have a calm violence free process and respect both sides and whoever wins wins. i hope it's my side. i know you hope it's your side and that's mitigating circumstance. >> it will be down-to-the-wire. if polls are to be believed the swing states are closer since 1972. this was decided by 78,000 votes in 2016.
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348,0048,000 votes in 2020. voters try to figure out do i believe in the vision harris has today or the actual pain and suffering i have lived through for the last four years that kamala harris has denied. >> we have to end it there. thank you very much. we will see what happens. tune in right here tomorrow for complete coverage of election night. shawn, will host the special coverage of democracy 2024 with the financial and investor spin to it. the entire fox business team will be in the mix inbe cluing me. beginning at 5:00 p.m. eastern. you will see a familiar face on fox news coverage on election night. bill will spend the nightstanding in front of the magic wall we here call the bil. these are the hits you need to watch. it's an interactive map that
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shows the numbers, not the emotion, the numbers. bill is the best in the business when he commands that bill board, so to speak. every single county in america. he has control of the incoming votes. he has the knowledge to give it all. how, how did he learn how to do that and what's behind that magic wall. well, you get the insight scoop on how he prepares to tern into superman. listen to my new podcast. everyone talks to liz. he explains it all in behind-the-scenes detail. i was completely fascinated. it's how the sausage is made. if you listen today you will be educated ahead of tomorrow. speaking of ahead of tomorrow's election we have a big vote today. boeings strike might be over today when tens of thousands striking employees vote on a labor agreement.
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charlie will break it down next on the claman count-down. things can transform. slipping out of balance into freefall. (the stock market is now down 23%). this is happening people. where there are so few certainties... (laughing) look around you. you deserve to know. as we navigate a future unknown. i'm glad i found stability amidst it all. gold. standing the test of time. your business needs a network it can count on... even during the unexpected. power's out! power's out! -power's out! power's out! -power's out comcast business has you covered, with wifi backup to help keep you up and running. wifi's up. let's power on! let's power on! let's power on! -let's power on! it's from the company with 99.9% network reliability. plus advanced security. let's power on! power on with the leader in connectivity.
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and election day and must see show and a pair of palm beach billionaires on opposite side of the spectrum and going for real estate developer and billionaire owner of the new york jets was also the former u.s. ambassador to the united kingdom and on what's truly behind the perspective presidential picks and don't miss it, that's tomorrow, 3:00 p.m. eastern. boeing's west coast machinist going for them and could end the world strike going for ground production on the halt and boeing undergoing the major changes going for the ceo and dismantling for the department following a broader trend of partnering on that and going for them and i don't know what that plays in on the bonuses boeing
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hiked. >> this is not a corporate and impacting the strike and i want to say one thing, and trump campaign believe it or not. going for the source of the campaign and they're breaking down the race and senior person inside there and going for them and georgia, north carolina, nevada, and michigan is really tough. i don't think they'll win there. wisconsin is tough but less so but they think they have the momentum in pa and that gives them the election. the dems ground gang and going for trump people hope and it's failed in the early voting to get turnout of women. this is really interesting to have this playing out and going for literally going for them and freaking out and going for
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factories here and trump's trade policy and going for the real interesting to be difficult and going to be elected and going for them volatility off the bat in the markets and this is portfolio and going for exposure and going for them to get it off my chest. boeing with the pick and the dei and it's illegal, bottom line. affirmative action and going for pile six of the civil rights act and public accomm accommodationd they wrote it to apply to employment going for them to think about it and title two today and going for the civil rights act going for them in the line and going for dei. it's every company going for boeing just the latest and in the news and going horrible in
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the air and it's strike and going for the company teetering for the time and ceo and going for every company is scrubbing dei. going for trump. it's gone for them and going for the plan. dei is one aspect that if trump gets elected and you can see sec chair and doj. going there and at least that's what the talk is and obviously got to win it tonight and
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democratic ground game is great and going for them on the end and it's using them to see how the markets react and it's going after dei if he gets elected and people blend at the closest and close inside the campaign and they have the idea how to de-woke corporate america, liz. liz: very smart investors clinging to a pile of cash ahead of the presidential election and ready to deploy it when prices get chief and look who's one of them. they've reported $23 billion cash pile going for them to oracle of omaha might do and staying long and u.s. markets is key and count down closer is also a berkshire athletics hathg
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going for them but cassioppi lite. going for the economy and all of these things. >> the last 30 years and markets outperformed the market by four x and administrative going on day-to-day and going to make too much apology for that. liz: indexes close lower on the day before the election and going on the day. larry: hello, folks. welcome to kudlow. hours till electio
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