Transcripts For FBC The Claman Countdown 20240711

Lockdowns as coronavirus cases spike. Home sales hit a 15year high but weekly jobless claims unexpectedly rise. I have a question for you guys. Is chicago the nations canary in a coal mine, as new york citys mayor warns indoor restaurant dining is on the verge of shutting down again, and the center for Disease Control today recommending against thanksgiving travel. We are live in the windy city, where it already begins to lock down again. Refi rush as urban dwellers flee covid and the big cities. Mortgage rates are nearing alltime lows. At the start of the pandemic, mortgage guru barry habib told you right here on the claman countdown wait to refinance because rates were going to drop more. He was right. Hes about to tell you where rates will go next. Its his big 2021 prediction. The woman with goop on her hands. The Venture Capitalist who backed the superhot retail site is here on whether the Hollywood Alister is ready to go public. First, we have a fox business alert as covid cases replicate at just an astonishing pace. New warnings have just gone out across the country within the last few hours. Total cases, more than 11. 5 million as deaths push beyond the quarter million mark which we told you yesterday it had just hit. We are now at 251,445 deaths. All right. Let me get to certain city developments. New York City Schools shut down today after reopening just eight weeks ago. Denver, colorado and the entire state of kentucky have also switched to remote learning. But the nations top Infectious Disease expert, dr. Anthony fauci, says the United States needs a quote, uniform approach rather than a disjointed city by City Response that we are currently seeing. But waiting for that is not an option for chicago. Lets go live to chicago. Grady trimble is there as the stayathome order looms over the windy city. What does it look and feel like . Reporter we are about as close to another stayathome order, lockdown, as you could possibly be without calling it that. Starting tomorrow, new restrictions go in place here. We are at the iconic field museum. This museum and all other museums in illinois will have to close tomorrow. So will casinos and movie theaters. Retail stores on michigan avenue, they should be gearing up for the busy holiday season. Thats not happening. They are going to have to cut back to 25 capacity, as will gyms and salons. Bars and restaurants havent had Indoor Dining for several weeks now. They are allowed to serve outdoors but as you might imagine, this time of year in the windy city, that is not exactly ideal. Similar restrictions in place in michigan and minnesota as well. Some states are trying to go forward with less restrictive measures, instead of locking things down, shutting down Indoor Dining, they are looking to do curfews. As an example, ohio is having a statewide curfew that goes into effect at 10 00 today. The governor there saying that he sees this as a middle ground to avoid the complete shutdown. Listen. Were not talking about closing these businesses as we did then but what we are asking every ohioan to do is to limit your activity. Limit your contacts with other ohioans. Reporter l. A. County has a 10 00 curfew going into effect tomorrow. New york, the entire state, has had that curfew in place for about a week now. Some restaurants say because of that, sales are down by as much as 30 , just adding that late night curfew. It has a trickledown effect, too. Think of the Ride Share Companies like lyft and uber. Think of the drivers who work for them. They have already been hit extremely hard by this pandemic. You add to the fact that those late night rides are essentially disappearing and that spells trouble for them. One thing thats interesting is earlier this year, when the reopenings started, uber was expecting to see a surge in people taking rides going back to work but what they actually saw is people using rides during what they call party hours. People trying to get a social life back. Its very difficult in many of these cities and states with curfews to have any social life. Its extremely difficult in a place like chicago and all of illinois where Indoor Dining and bar service is completely shut down. Liz i know. Its starting to happen, you feel it here in new york city, too. Grady, thank you very much. Look, even with the new wave of shutdowns looming, investors have actually been shorting volatility because the markets have been remarkably calm. Look at the vix index. This is the fear index. It gives you an indication of how much fears in there. Well, we are actually down for the month so far 39 . Theres really been no fear. But even other vix products like pro shares ultra vix shortterm futures which provide leveraged exposure to the s p 500 shortterm futures, thats even worse. Because you know, we havent seen any volatility, down 42 but lets bring in our traders. Tom hayes and phil flynn. Tom, low volatility but should investors still have their guard up . Because im looking at an inverse one. Theres svxy and thats a short vix, right . You bet that its not going to do well. To me, this is a very interesting play here. But youve got to be careful, right . Yeah. Well, the vix is still elevated above 20 so if you really want to look for top or where to get extremely defensive you want to look below 15. We still have a wall of worry that we can climb. As Warren Buffett likes to say in the short term, the markets a voting machine. In the long term its a weighing machine. Right now, we are having some turbulence because of the voting. The situation with covid case spik spikes, the shutdowns going on around the country. Long term we can look at Earnings Growth next year will be well over 22 and thats probably underestimating the possibilities that we have. Gdp growth is going to be 5 to 6 . You have to look through the short term and if you recall, on the friday before the election i was on, and the market was down about 900 points. I said liz, this is a rotation, not a liquidation, and we said we wanted to get involved in banks, in defense stocks and energy. Since that time, banks are up 24. 5 , defense stocks are up 26. 5 , and Energy Stocks are up 34. 5 . We still like these looking out 6 to 12 months. On the bank side we like wells fargo, bank of america, citibank, the Net Interest Margin is increasing from the yield curve steepening, the reserves are going to come down. On the defense stock side we like ge and raytheon and on the energy side, we like exxon and kinder morgan. There is still a tremendous amount of opportunity. You may get some shortterm turbulence, a few air pockets, but you wont have to put on that oxygen mask. Liz yeah. But phil, at some point, somebodys going to step on the markets air hose and we are going to start to see the fares come in. What is the defense there that you see is the great play for people who might right now look at the market and say look at this resilience. The dow had been down 210 points this session alone. We have climbed back up. We are about two points to the upside. We could go negative again but its not the worst picture of the day. No. Its not. I tell you what, the vix has come down pretty dramatically because a few months ago, we were so freaked out before the election, you know, that everything was going to fall apart. They were going to shut down the economy, they are shutting down europe, it looked like the final scene of animal house, and now the vix is starting to come down because we are getting some answers to some questions. Listen, if you look at todays data, it was very encouraging. Even though the weekly jobless claims werent great, the continuing claims, you know, were Getting Better and the housing number was absolutely explosive, right . This is incredible. First time home buyers jumping in the market, unlike anything we have seen probably in many years. 3 30 , no distressed buyers in there. That shows a very very solid recovery. I think if you get back to the fear, usually, you know, usually you get the Biggest Surprise when you are not looking for it. Thats when you are getting your biggest spike in the vix. All of these fears we are seeing. Tell you right now, it sounds like they are talking about getting a stimulus deal. If they start getting close to that, that might be the component thats going to really start the santa claus rally. Liz congress has to act. If it doesnt want main street to fail. We are hearing it in all of the cities we all live in. There are restaurants going out of business and the domino effect is just horrific. We need congress to start doing something here, get it together. Tom, phil, great perspective. Thank you very much. Move over, airbnb and door dash. Paypal riding his firm up to the ipo gait after a 93 revenue surge in its latest fiscal year fueled by pandemic driven demand for loans. We will soon know whether its the jockey or the horse that really wins the startup race. Gwyneth paltrows goop creating a lot of buzz. We have the Venture Capitalist powerhouse backing this beauty. With the closing bell ringing in 49 minutes and the dow up 10 points, hey, green is green, folks. S p is up 9 points after having been down. The claman countdown is coming right back. 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She saw Something Special in these two companies and i cant wait to hear what it is that you looked for that has you putting your money on these types of bets. You know, the two we talked about, is it the jockey or the horse, meaning is it the founder or the horse, meaning the company. Before we get to bumble and to goop, give me a sense of what you look for before you say heres the green cash. Yeah, look, these are two great examples of just incredible entrepreneurs who are in huge markets. Great businesses and Business Models behind them. Its really both. Youve got to have both. I think both whitney and gwyneth are incredible charismatic leaders and just represent great founders who are also female. Liz i want to talk about goop. Gwyneth paltrow, oscar winning actress, obviously extraordinarily intelligent, she started this lifestyle site but there are a million of those. What was it specifically about this and i do understand she just gave a presentation to investors, you were there. How did she do . She was fantastic. Yeah. We just wrapped up our annual meeting and she presented i have to say, just for a second, it was kind of amazing because we had four founders present and it really was representative of what should be represented in the Venture Capital ecosystem. We had nick green, a mexican american, founder from thrive market and alex from open cast, a white man and it was just wonderful, just as an aside. Gwyneth, what set her apart in terms of building goop was authentic, its her. It sort of comes from this just genuine curiosity and sense of what shes interested in and sort of exposing things to the world and there are a lot of people that are interested in what shes interested in. She does it in a very very authentic way and just supergrounded. Liz that leads me to the question about the fact its been a very fertile ipo season and now a whole bunch of new names are starting to come to the forefront. We are expecting airbnb and door dash, bumble, which you have also invested in, a firm thats getting a lot of attention here. You want your money eventually that you put in. The lure of getting your investment back. How close is a goop, for example, to taking that plunge and what do you need to see before she would say im ready . Look, i think with any of these companies, they can go public at any time. Its really not an exit. Its really just sort of another milestone on the journey. You know, it provides an opportunity for liquidity but i think when you look at any of those companies that you just mentioned, the growth thats ahead of them is incredible. So i think when you look at it, it really is a financing event, its frankly a marketing event and so i dont really think of it as necessarily the time to just get liquidity. We look at getting liquidity at a time that makes sense relative to our fund cycle but i mean, all those companies have incredible growth ahead of them. Liz you had a hit out of the ballpark with the real real which of course is the consignment, high end consignment site. Julie wainwright has been on the show many times. Really impressed by her as well. This turned into what was an investment into a more than 2 billion ipo. Let me get to bumble, then. Because bumble and whitney are, you know, hand in hand. She of course had been at tinder, moved to bumble. Women get to make the first move dating site. Its is it a little crowded in this neighborhood . What makes you think this is a company that would do well as a publicly traded one . Whitney started bumble. She started it with a very unique insight and it turns out that insight is something that resonated with women around the world. So again, i think bumble has grown incredibly fast. Its a very significant scale today. But again, i think they are only just getting started. And theres an opportunity with bumble certainly around dating, but really around just authentic relationships, and i think thats what has resonated so much and whats allowed them to capture the growth they have so far and again, theyre just getting started. Liz well, were impressed by you. I would love to have you back. Your cofounder over there, to me, i love both of you. I think your storys fantastic and fascinating about where the money goes and what kind of midas touch or the eye that you have is really a story that i think our viewers want to hear. Please come back. Thank you so much. Thanks for having me, liz. Liz any time. Dana settle. From one groundbreaking woman in Venture Capital to another. They said it couldnt be done, especially by an unknown in the music industry. Get lady gaga and Britney Spears to give concerts all the way in india . The woman who helped startups morph into billion dollar companies. She reveals the special something she had to turn no into yes in my latest everyone talks to liz cod papodcast avai right now. Check it out. I would love to know what you think. Going allin on ballys. A new bull call sending shares higher as sinclair partners with a casino firm on a rebrand of the Fox Regional Sports Networks it acquired back in 2019. As bally jumps 22 , the man who broke that story, charlie gasparino, is about to join you with new details on another major deal in the making. Closing bell is ringing in 39 minutes. The dow holding on to 10 points of gains. Stay with us. Trelegy for copd. Birds flyin high you know how i feel breeze drifting on by you know how i feel [man coughing] its a new dawn, its a new day. No matter how you got copd its time to make a stand. And im feelin good start a new day with trelegy. No oncedaily copd medicine has the power to treat copd in as many ways as trelegy. 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Apple unveiled it, it was a whole big deal. Well, apples up just about half a percent but nobody seems to be worried about sonos now. All right. When nary a drop of purell could be found back in the early months of the pandemic, L Brands Bath Body Works provided the ultimate hack. Demand for its scented hand sanitizers spurred record sales growth which in turn has l brands stock popping 16 right now, after it beat earnings and revenue estimates. Yes, theres always victorias secret lingerie helping move things along for sure. Go pro shares taking a dive after the mountable camera maker proposed to offer 100 million worth of convertible senior notes due in five years. The company says it plans to use the funds for repaying debt and expanding its business. Go pro shares down 13. 7 . But flip it over to roku. Roku is up at this hour on a report that the company is close to reaching a deal with at t to bring streaming service hbo max to its platform. Roku is jumping 10. 5 . At t not getting any juice from that, down about 1. 5 . This is at ts Warner Brothers announced the debut of its highly anticipated wonder woman 1984 sequel simultaneously, they are going to release it on both hbo max and in theaters. When will this happen . Super woman on christmas day. From wonder woman to the penguin i mean, to superman, charlie gasparino. I didnt call you the penguin. Charlie you can call me anything you want. Big red. Liz got some news on tiktok. Lets hear it. Charlie were trying to keep our viewers up to date on this story that if you think about it, during the summer, this was, you know, when the election was heating up, this was the big story the Trump Administration wanted to ban the short video app used by millenials and young kids and some influencers because its owned by the chinese, a chinese company, bytedance. Also has significant u. S. Investors in there, General Atlantic and sequoia. Now the Trump Administration is on the way out and the Biden Administration is on the way in. We trying to gauge the temperature of tiktok and whats their next move. As you know, the Trump Administration has put off and courts have ordered a stay in its immediate ban so this thing is still going on. They are still talking about this. Heres what we are getting from tiktok officials, at least what they are telling wall street executives who are talking to us. They feel they will get more leniency from biden over his chinese ties. They say the incoming Biden Administration even might not impose that deal that they were working on to join venture with oracle to somehow create at least the image of a u. S. Company owning the user data so it cannot be given to the Chinese Government for surveillance purposes, that that deal might not have to happen, at least thats what tiktok officials are saying privately. Publicly they are saying, we should point out, they are saying full steam ahead, we are trying to still work with the Trump Administration on this. But privately, there is some talk, im not saying its not going to happen, but theres some talk that maybe the Biden Administration wont force them to do that as long as they create some mechanism to keep the data in the u. S. One thing i will tell you is that the Biden Administration, my sources that are close to the Economic Team thats being put together, is going to give the oracle deal another a very strong and tough not just over National Security concerns but over the alleged crony capitalism concerns. Oracle, as you know, is run by Larry Ellison, and Larry Ellison is very close with donald trump. There is a lot of talk this was a sweetheart deal for oracle. They can make a lot of money, you know, through their Cloud Business and that maybe this thing needs to be put out to bid or it just shouldnt be given, oracle shouldnt get a blank get to write a huge check here. Thats the game right now. Thats the, you know, whats going on on the ground right now with tiktok. Its still up in the air right now with the Trump Administration, but they are, you know, quietly optimistic that it will be a little easier dealing with the incoming Biden Administration. Liz i have become addicted to one comic on there who does this new jersey mom thing. He says did you see were going to the summit mall. Hilarious. Charlie that one is good. He does not just the mothers, he does liz hes good. Charlie guys like i used to be when i was ye18. He does that. Then theres sarah cooper. Liz Italian American parents versus regular american parents. Charlie then sarah cooper does that trump imitation which i think is pretty funny. Anyway. Liz yeah. All right. Hey, charlie, thank you. Its been fun. Although hey, its still in action. We know. Way back in march, right as the athome movement was launching, mortgage guru barry habib said dont rush to refi because rates would only go lower and he was right. He is back now exclusively to make his first prediction for 2021. Should you wait to refi . Whats going on with Mortgage Rates . With the closing bell ringing in 29 minutes, and boy, we are crossing back and forth like a zigzag across the flat line for the dow. We are barely higher by one point. S p up nine. The nasdaq better by 89 now. Well be right back. This is decision tech. Find a stock based on your interests or whats trending. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. May your holidays glow bright and all your dreams take flight. 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I speak on behalf of my viewers who are all dying to know how low they will go. Before we get your answer, how are lenders handling the load and whats the big untold story with the home buyers themselves . What are you hearing . First of all, thanks for having me. Always great to be with you. As far as lenders, they are handling this amazingly well. Capacity is very tight, especially when you consider that most of the lenders are working on this with their employees working from home, which does tend to make it a little more challenging. But they are doing a phenomenal job. Hats off to them. Big misconception, todays numbers were amazing on existing home sales, and what people mistake is that median home price at 313,000 which is up 14 from a year ago, people think that that means homes are going up at that level for appreciation and they think they are unaffordable. In fact, affordability is better because incomes are going up very strongly. They went up 5. 7 on a weekly basis year over year. Appreciation is not meaning home price. Theres a lack of homes at the lower end so because more people are buying higherpriced homes, it moves the needle on median home price. But meanwhile, overall appreciation is between 5. 5 and 6 . Its really strong and its going to continue. Expect another 5 to 6 next year so go out and buy a home while you can now. Liz all right. Heres the 30year fixed. 2. 72 , the week ending november 12th. It was a year ago 3. 66 . I ask you now, as we all wait with bated breath, what do you expect for mortgages in 2021 . Can we see barry as he says, gives this prediction . So everybodys forecasting that Mortgage Rates are going to go higher next year. All the big associations talking about that, saying refinances are going to be down. I dont buy that. I think we have a really good chance to see Mortgage Rates while they wont be the straight line, to revisit some of those low levels and thats because the main driver that most people dont understand is debt in our nation. In 2019, there was 22. Now its 27 trillion, going to be 29 trillion with a stimulus deal. That weighs on growth. Slower growth, lower inflation. Technology, lower inflation. That means low inflation allows Mortgage Rates, Interest Rates in general, to move lower, even from their very low levels. There is room for them to either remain near here or to go down. I dont see the big move up in Mortgage Rates to like 4 or anything like that. Maybe they flirt with 3 or 3. 25 but i do think theres a very good probability, especially when the masks come off, and people come back to work, that means the demand will come back up to meet supply, suppress inflation pressures even lower, and that will allow Interest Rates to potentially reach new lows. But certainly remain in a very, very attractive range. Liz okay. Hold on. Can i just drill down on that . We are at 2. 66 for the 30year or whatever, i just put 2. 72. Can we put it up again . How low, will it go lower, to 2. 6 , perhaps . Well, heres one thing. Heres a little inside thing. The fed is buying now, they are starting to buy more of the 1. 5 coupon. That corresponds to a Mortgage Rate of around 2. 5 . Theres other factors that will come out. Look, if the stock market takes a bit of a breather, a lot of that money will go into the bond market at least temporarily and that could just be the catalyst that pushes Mortgage Rates down towards 2. 5 or maybe even 2 3 8 on the 30year fixed. Remember by the fed starting to purchase more 1. 5 coupons, thats telling us the fed starts to see the possibility that their activity is not going to diminish but potentially continue and push rates even lower. Liz barry, youve got a book coming out that already hit the amazon bestseller list. Can you hold it up so our viewers know . Mortgages are very titillating for a lot of our viewers. Well, you know what, number one on amazons bestseller list, i just happen to have it right here, but this is the book not about mortgages, about life. Its a book that will help you get through a tough time, help you maximize the good times and see the opportunities everyone else is missing. Its a skill set you can learn, become a lot more successful and happy. Liz like you, barry. Money in the streets by barry ha sl bib. Great to see you. Please come back again. See you next time. Barry habib. President elect joe biden has been meeting with governors in the past hour. Hes about to speak about that meeting in wilmington. Are those governors demanding stimulus and what about what just happened with Rudy Giuliani and his claims of voter fraud . We are going to take you there to wilmington. Hillary vaughn is going to wrap it all up for us and we will see about that stimulus. Stay tuned. Well be right back. Dow is increasing its gains right now, up 55 points with 18 minutes left to trade. For over 30 years, lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Get 0 financing on all new 2020 and 2021 lexus models. Experience amazing at your lexus dealer. We live in the mountains so i like to walk. Get 0 financing on all new 2020 and 2021 lexus models. Im really busy in my life; im always doing something. Im not a person thats going to sit too long. In the morning, i wake up and the first thing i do is go to my art studio. A couple came up and handed me a brochure on prevagen. Ive been taking prevagen for about four years. I feel a little bit brighter and my mind just feels sharper. I would recommend it to anyone. It absolutely works. Prevagen. Healthier brain. Better life. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Liz breaking news. At any moment we do expect to hear from president elect joe biden. He has been speaking this afternoon to state governors on both sides of the aisle about ways to improve coordination between federal and state responses to the covid19 pandemic. Meanwhile, the vote counting Machine Company at the center of the trump legal teams accusations of voter fraud is coming out swinging after Rudy Giuliani alleged it deleted votes and has ties to communists in venezuela. To Hillary Vaughn in wilmington, delaware. Reporter president elect joe biden just wrapping up that meeting with the National Governors Association Executive committee, a group of five republican governors and five democratic governors. Biden said today for the moment, hes relying on them to tell him directly what they need in terms of covid response, because he says they cannot get access to accurate and uptodate information until the gsa greenlights the transition. I understand many of you, that you have serious resource constraints as you try to fight this pandemic, and thats limiting your ability to do what you need to do, and i mean this, we both want to work with you. We want to work with you and congress on a bipartisan basis to make sure you get the resources you need. Reporter part of that delay with the gsa is because President Trump has not conceded and his campaign is actively pursuing lawsuits in different states around the country. And the Trump Campaign gave a press Conference Today outlining a clear path to victory, essentially defending a lot of their legal action and lawsuits that are ongoing. They also are calling out a flawed Voting System used in some states that they say has partisan ties to democrats called dominion, and that that Voting Software was flawed in many cases. Rudy giuliani said that dominion has ties to the Clinton Foundation and also a venezuelan [ inaudible ] to people with connections to the former president , hugo chavez. There should never be another election conducted in this country, i dont care if its for local dog catcher, using a dominion machine. We have got to have an American Company that uses paper ballots that we can all verify so every one of us can see that our vote is our vote. Reporter dominion today directly responding to those accusations with a flat denial, saying they do not have partisan ties, they are a u. S. Company and claims that votes were switched or deleted have been widely debunked saying dominion has no ownership or relationship with the pelosi family, clinton global initiative, or any ties to venezuela. Dominion works with all u. S. Political parties, our Customer Base and government outreach practices reflect this nonpartisan approach. But liz, for the moment, the Trump Campaign continues to peddle these theories that dominion is flawed and it is at the heart of some of their lawsuits saying that hundreds of thousands of votes were either not counted for President Trump or switched from President Trump to president elect joe biden. Liz . Liz yeah. Dominion also said its an entirely separate company and a fierce competitor to smartmatic and basically says every time they have run into any kind of dealings its ended in a lawsuit between the two companies. So a lot more to play out here. We are still waiting on really detailed evidence with names and dates attached. We will be watching it. Thank you very much. Hillary vaughn. All right. The Minnesota Timberwolves made this guy, anthony edwards, the top pick at last nights nba draft. Thats the commissioner, adam silver. But coming up, our countdown closer has there he goes. All right, anthony. All right. The athletic stock allstar says he can make a slamdunk for your portfolio and hence, basketball is a big part of this stock play. You got to hear the name with the closing bell ringing in nine and a half minutes. Dow up 55. Weve got green on the screen. Well be right back. Staying on top of your game takes a plan. Thats why at aetna, we take a total, connected approach to your health and wellness. With Medicare Advantage plans designed to surround you with the care you need every day. Aetna Medicare Advantage plans. This holiday season, with ancestry. This was the theater i came to quite often. The support weve had over the last few months has been amazing. Its not just a work environment. Everyone here is family. If you are ready to open your heart and your home, check us out. We thought for sure that we were done. And this town said not today. Liz. Take a look at live pictures this is the White House Briefing room where the White House Coronavirus task force is about to hold its first braving since august. The briefing is expected to begin 4 00 p. M. Eastern time. So were about six minutes away. After the bell will carry it for you. Closing bell ringing. We have got five minutes left. Here we go, the 20202021 nba season fast approaching, late december. Nike unveiling new uniform looks for different teams. Look what they put out the past couple weeks. There is the oakland, oakland what . What is the team in oakland . Oh, they have switched, the golden state golden state warriors. Charlotte, et cetera. Adidas under armour nipping at nikes heels. Which one should be in your gym bag of stocks. John trainer, unite advisors cio. Give us the name in the space you love the most. We like nike. Nike has shown itself to be a true winner across the board. Theyre developing you know, great direct to consumer franchises. So we like nike Going Forward from here, absolutely. Liz it has had a really nice runup. This year up 30 alone. Are you buying too high here . You are talking to an investor audience, dont want to make them mad saying i bought it too high . No. We think nike has more to run. One of the things looking for Companies Next Year those that are growing sales. You need to be, certainly we want to see Earnings Growth but it has to be a sales driven. Nike leading in sales growth. So we think theyll will be the type of stock that investors will be gravitating towards next year. Liz interesting to look at the websites of hot sneakers like stockx. Consistently you see these air jordans, and there is a retro look that is coming back. I get these emails, i have a 16yearold boy. The competition is out there. Teenagers are fickle. Under armour could come out with something superhot. Adidas as well. Do you worry there might be a zeitgeist moment for some of the other names . Well, to a certain extent its a fashion business. You know, we need to be aware of that but you know, we just think nike has all the pieces in place, you know, especially, as i said earlier, that direct to consumer franchise. Theyre going out, theyre going direct to the consumer. We really think that will help accelerate their sales. So, yes, i, im probably past the age when im looking for the fashionable sneaker but for that crowd out there, nike definitely has a great product lineup for them. Liz okay, you also like a name unrelated to jordan shoes, et cetera, that is thermofisher. Talk about the name, john. You have nine billion in assets under management. Im interested what you like about thermo . Thermo is a important name. Look at all the headlines for us, on cures for the coronavirus, all those companies doing research, and we hope many of them come up with great cures but all of them are getting equipment and technology from thermo. Thermois the arms supplier to the life sigh industry. Whether coming up with the company that will have the drug, we rather would invest in it. Hermo. This stock has been in other model for the forequite a while. It has been a great performer. We continue to think it will do so. Liz dow is up 42 points in last couple minutes. Nasdaq jumping 100 points. John, we see the cases of coronavirus rearing their head at alarming rates. Will that, in horrible sort of way, but we are a business network, give people who missed the low before another opportunity to get in at cheaper levels . Youre hitting on a really important point. What were seeing in the market right now are people on the reflation trade which is you know, happy days are here again and lets go buy cyclicals and the covid trade where boy, were not through this. Lets be very cautious. Youre seeing techs do very well today. That is more of the slow growth, more of the covid trade. Were building our portfolios for next year and we believe the economy will be reflating but we think weve gotten ahead of ourselves on the reflation trade. Were actually calling for gdp in the First Quarter next year to be 0 to maybe negative 1 . I dont think that has been factored into a lot of investors forecasts. So were building that reflation trade portfolio but we think it has gotten ahead of itself. We said lets hold off, lets not chase any of these cyclical stocks. We think we will get a better opportunity to buy them but were seeing the ebb and flow between those two trades. That is really dominating the market right now. Liz john, youre one of the first in a long time who has been on the show and called for zero gdp or possibly negative. Im interested. I hope we dont see it. But please come back. We want to see how that bodes, how that fleshes out. Good to have you. Great to see you, john. Thank you. Liz john traynor. Peoples united advisors. The dow has crossed the unchanged line multiple times particularly in this final hour of trade. Were up though 55 points. Here comes the closing bell. [closing bell rings] crude oil flat, still at 41. 89. There we go, s p gaining 15. The nasdaq up 107. It is time for after the bell and possibly more information on the covid crisis. Connell yeah, just moments from now at the white house the Vice President and the Coronavirus Task force will indeed brief us on the pandemic. This comes as officials issued a new warning for americans ahead of the thanksgiving holiday. Were just wrapping up a choppy session on wall street. We close it on a up note. Were weighing impact of new restrictions against the positive vaccine developments. The dow closes up 44. Nasdaq best of the bunch. Major averages up a shade by 1 , 103 points higher on the day. Good to be with you. Im connell mcshane. Welcome to after the bell. Team for