Transcripts For FBC The Claman Countdown 20200207 : comparem

Transcripts For FBC The Claman Countdown 20200207



the outbreak and global growth jitters have investors shaking despite an upbeat january jobs report. the dow down 266, off the lows. we have the s&p lower by 16, the nasdaq losing 47. bob doll is the trillion dollar man, he's in new jersey at this hour. he's about to share how he's predicting whether a potential pandemic could send the market and economy into panic mode. and there's one particular thing he's watching. the shorts back in action, swirling around tesla. $18 billion worth, betting against elon musk. but tesla is now the most shorted stock on wall street. could the stock haters be about to be squeezed again? as elon continues his happy dance. we've got a bull/bear debate. plus uber stocks beating, you ready for a "friends" reunion and charlie breaks it on joe biden's wall street appeal. less than an hour to the closing bell. happy friday, everybody. let's start "the claman countdown." liz: and we are just getting this breaking news. the national transportation safety board says there is no evidence of outward engine failure in the helicopter crash last month that killed nba legend kobe bryant, his 13-year-old daughter and seven others in los angeles. the ntsb as we understand it is looking at the role heavy fog played, and a final report is not expected for at least a year on this. by the way, a memorial for bryant and his daughter will be held at the staples center in los angeles on the 24th. all right. to the markets. investors are hailing uber's stock at this hour, in this final hour. it is holding on to all of its gains of the day, up 9.25%, on pace for its best day since its ipo back in may. after the ride sharing company forecast that it would reach a key profitability goal sooner than expected, well, when, right, fourth quarter of this year, the stock took off and hasn't looked back at least for now. it's at $40.53. to ford, going in the opposite direction. ford's hitting a 52-week low after a management shakeup following a disappointing forecast that came out earlier this week. ford's stock down 1.33%, back at this $8.14 level. the automaker's strategy chief jim farley is taking the job of chief operating officer and that basically, when you look at the history of ford, puts him in line for the ceo role. kind of a shocking headline rocking europe's financial sector after credit suisse's ceo quit europe's top bank after a spying scandal involving former executives who were being tailed. the head of credit suisse's business will take his place. he was not the one who had ordered the spying but he takes the fall for this. credit suisse down about .33%. look at video game publisher take 2 interactive. it's shooting the air ball after its holiday quarter revenue missed expectations due to weak performance from its nba 2k 20. it's down 11%. not a good day for that company. and a new risk to the federal reserve's outlook made its appearance in the semiannual report to congress. the fed now says possible spillovers from china's coronavirus are really the cloud for u.s. economic growth this year. so now the fed is wading into the rough coronavirus fear factor waters. but the churning has been going on for a month now, and at this hour, the list of businesses warning of fallout piling even higher. you've got the luxury brands on the screen here. canada goose down 4%. estee lauder down 1%. burberry down 10% year to date. so today, both revealed the virus is hitting their sales. burberry scrapping guidance. then lauder says the virus will dent its 2020 profit outlook. in and of itself, is the virus powerful enough to really derail this very strong bull market? in a fox business exclusive, nuveen's bob doll is here. he helps manage the firm's $1.2 trillion in assets. we are coming off four sessions of gains during which the coronavirus was still spreading. do you see something else? what are you looking for that, if put into the recipe, could spark a more lengthy selloff and kind of blow up the stove? >> the surprise to me is how strong the last four days were. we have not conquered this virus. it does look like there's some cresting in terms of the number of cases, thankfully, but the impact is going to be felt certainly in china, and globally, to some degree. if we know the history of these sorts of things, they come, they go, and life goes back to normal. let's hope that's the case here. but i don't think we have enough information to know. the market's been up on some okay economic news here in the u.s., some of the election talk this week, but i think some more profit taking as the market is acting very tired at the moment. watch the coronavirus impacts on corporate earnings and the announcements for the rest of the first quarter review of the fourth quarter. liz: we are looking at video, bayo bayonne, new jersey. that cruise ship came in this morning. four people are being tested. so far we don't have the final confirmation results. one apparently has been tested and came positive for influenza, the flu, but not the coronavirus. it's these kind of headlines that are now hitting our market-based, you know, headline and news source that we get. thompson reuters and our own wires at fox business. i'm wondering, pair that with the fact that the markets, some would say, appear to be overbought, is that enough to maybe really scare the bulls away? >> it could be. i mean, the hope or the consensus for earnings growth this year is plus 9%. i think even ex coronavirus, that's a pretty big number given what we are looking at. you add this nick at a minimum to those numbers and the market's probably going to take a pause. i don't see a big downturn because i don't see a recession but we could pause and be choppy and frustrating for quite some time here. liz: okay. but let's talk about what to avoid, and where you feel at nuveen there are opportunities. you could look at very low mortgage rates and home buyers. i'm just interested, you see the luxury names we just showed, i wouldn't say nike is exactly luxury but nike has been dinged. apple has been dinged. they don't have enough components right now in the pipeline to even make the airpods. tell me what you like that might have a little teflon around it. >> things that are more domestic in orientation have fared better and will probably continue to. so you know, some of the retailers here, target, best buy, companies that have a lot of business to asia and china in particular, that's where the questions are getting asked. they're the stocks that have gotten hit harder. i think the stocks that are up a lot, if we have a selloff, as you are postulating, possibly, those stocks will get hit hardest. some of the technology names, some of the software names, names that haven't done so well, perhaps some energy names that have a yield, can hang in there a little better, if we have a downturn. i don't know if we will have a big downturn. i come back to choppy and frustrating. liz: i have to ask about the ten-year yield. it's dropped about six basis points from just yesterday, it stands at 1.58%. i'm not so concerned about the fact that we are seeing a loss of 278 points for the dow. we just hit a record high yesterday. but the bond market is almost trying to telegraph something here. if you talk to fixed income experts. and when i check the two and five year, it's really flat at the moment. in fact, you could argue that it's exactly flat. hasn't inverted yet. tell me, is this a time to at least have a bigger pile of cash versus equities? >> i think that's not a bad idea. fixed income numbers that you are citing, i don't think we can say are good news. not necessarily bad news, but you know we had that big run up above 1.90 on the ten-year in the back part of the fourth quarter, then led by coronavirus, we have moved down a lot, a basis point. we have to twhawatch that caref. my view, if the history of these viruses is that they are going to pass in the next couple months and that the economy is okay, we will start seeing that ten-year number move from 1.60 to 1.70, 1.80. we might even see 2.0 before the end of the year. liz: that's a big prediction. we will bring you back when that happens, bob. before that, hopefully. good to see you. >> all the best. liz: bob doll of nuveen. even as u.s.-based companies continue to warn the coronavirus will hurt their business this quarter, everyone still appears to be hiring. witness the january jobs report, which came in this morning far better than expected. non-farm payrolls adding 225,000 new jobs versus predictions the number would be more like 160,000. yet the markets are still falling. what deeper maybe within the sunny labor picture we got today for january do traders think might be dousing stocks in the red? is it something like that, phil? labor participation picked up. that's a good sign as well. did you see something lurking in this number? >> you know, the only thing in this number that i saw that might have been a little bit disappointing, was the drop in manufacturing jobs. that's one of the sectors that had been weakening a little bit. but you know, you add the coronavirus on top of that, it makes those numbers look a little bad. but that fed report that came out later in the day, you know, soothed my concerns just a little bit. they seem to suggest that they expect the manufacturing sector in the u.s. is getting ready to take off again. that's what they led us to believe. but that can be all thrown out the window, because we just don't know about the coronavirus. now, considering we have been flip-flopping back and forth the last couple days and reports are it's going to get bad, going to get worse, could be peaking, might not be, and that's what the market is worried about today. and i think if we turn this into a jobs report monday, you know, i think the market would have answers to that question and you would have got a much more positive reaction to yesterday's or this morning's number. liz: you know, you could argue, on our screen are the dow losers, dow, caterpillar, 3m, apple, goldman sachs, maybe ex goldman they have connections to china, supply lines going through there. tim anderson, gold finally punched through. the high of the session as about $1573 per ounce. now we are at $1575. look at this. so we do have fear or at least the belief that you need to go into some trades that are safe havens, do we not? >> well, maybe a little bit. i wouldn't be real excited about gold unless it went through $1600 with some conviction. i think that, you know, the utilities had a big run, no doubt about it. utilities could be economically sensitive. some people overlook that. i just think that this jobs report was a very strong report any way you look at it. i know the manufacturing numbers were off a little bit but the construction numbers were up 44,000. i would take a close look at the housing numbers the next couple of months, because that's a sector that has been percolating with activity a little bit, and other than that, the market is just having a little bit of a well-deserved pullback, short term, maybe a little bit ahead of itself, and clearly going into a weekend, we saw this last friday, people just don't know, you've got two and a half full days before you get anything new maybe from the virus. liz: therefore, people don't want to go into the weekend long. that just seems how it feels. gentlemen, it's been a long week. thank you. because it helps our viewers really understand when you bring us that story from the floor. mortgage rates have fallen to the lowest level since 2016. average 30-year fixed, unbelievable, 3.45%. no wonder the home builders are up. isis, cold feet and ebay no a deep freeze. the closing bell ringing in 47 minutes. the dow down 281 points. new york stock exchange parent intercontinental exchange, known as i.c.e., got almost immediate blowback from wall street including its own investors and ebay's investors, when merger talks broke yesterday that i.c.e. might want to buy the online auction giant for around $30 billion. two hours later, i.c.e. bailed. today its stock us jumping 3.25%. on the other hand, ebay investors pressing the sell it now. not the buy it now button. down nearly 5%. up next, president trump pushing economic freedom in north carolina in just the past few hours, highlighting his opportunity zones initiative, about two and a half years after the program's launch. how is the plan to develop low income in blighted areas going? we will check it when "the claman countdown" comes right back. [ sigh ] not gonna happen. that's it. i'm calling kohler about their walk-in bath. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassag. everything is installed in as little as a day by a kohler-certified installe. and it's made by kohler- america's leading plumbing brand. we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. liz: let me just get you up to speed on the markets here. the russell is down 19 points. that is a somewhat significant percentage when you look at everything else. president trump has just left that stage and boarded air force one in charlotte, north carolina, after touting his economic record today. at the end of a week that saw him acquitted of impeachment charges in the senate and hit some of the highest approval ratings of his presidency. one component of his work that the president highlighted was his opportunity zones. these opportunity zones, it was part of the republican tax bill that was passed in late 2017, and what these zones do is allow investors to defer capital gains taxes and even offer tax-free income streams if they build headquarters and they develop areas that are hit by urban blight. there are 8700 opportunity zones that meet census criteria as poor communities with the economic innovation group estimating there are more than $6 trillion in unrealized capital gains available for potential investment. opportunity zones made up part of president trump's boasting today. blake burman following it all from the white house. blake? reporter: hi, liz. the white house says they plan on having more of these events here in the upcoming months, especially throughout the year as the white house really does believe when they lay out all of the accomplishments that they think that they've had or they see that they've had over the last few years, opportunity zones, they believe, sort of fits at the top of that list. so for the very first trip post-state of the union, from just the other day on tuesday night, the very first trip that the president took today to highlight opportunity zones and really to continue to push this message of what exactly these opportunity zones are and how those within the community can benefit from them. here was president trump in charlotte, north carolina just a little while ago. >> we are deferring people's dreams to another day with relentless optimism, we are taking action right now and i mean right now to create a future of dignity and security for all. going to be an incredible situation. you'll see it. and we believe in no american left behind. reporter: the president also spent a lot of time talking about his support for hbcus, historically black colleges and universities along with the criminal justice reform bill that was passed in the recent years as well. the president today also announced at this speech a new reentry czar as he will be known. tony louden, a pastor from georgia, will be the reentry zone, trying to get those who were incarcerated ween tre-ente back into society, so they can move on with their lives. louden is the pastor at the church of former president jimmy carter. liz: more six degrees of separation. closer than republicans and democrats really think they are. very interesting. blake, thank you so much. we need to tell you about one social media stock that's putting a pin in its critics. with 39 minutes to go before the closing bell rings, and the dow now down 280, just 99 points above the 29,000 mark. up next, the blowout numbers that have social media scrapbooking giant pinterest bucking the red arrows this afternoon. and as the bears claw the markets in this final hour, elon fights back against those bears. the electric vehicle empire caught in the ultimate bull/bear battle this week. our all-star panel is putting on their gloves as we seek to duke it out on who will ultimately win this grudge match. that tesla prize fight coming up next on "the claman countdown." our retirement plan with voya gives us confidence. yeah, they help us with achievable steps along the way... ...so we can spend a bit now, knowing we're prepared for the future. surprise! we renovated the guest room, so you can live with us. oooh, well... i'm good at my condo. oh. i love her condo. nana throws the best parties. well planned, well invested, well protected. voya. be confident to and through retirement. liz: for 16 years, the american heart association's signature go red for women red dress collection has served as a powerful reminder to women that they, too, are very vulnerable to heart disease. while the annual glitzy red carpet dresses on the go red for women catwalk are absolutely stunning, the color red like i'm wearing right now serves as a reminder that heart disease is very much something that takes the life of one in three women in america. "the claman countdown" snagged some exclusive red carpet interviews with those very stars on the catwalk who came out for this year's go red for women event. we asked them what steps they take to stay heart-healthy. >> i do eat a clean diet, drink enough water, mediterranean so it's mostly plant. surround yourself with really good people who are loving and supportive and you have to love yourself. >> fresh fruits and fish. i love to rock climb. but it is mediterranean. sometimes there are meatballs involved. >> definitely dancing for me. i loike to dance. that's how i copy keep my heart healthy. liz: i'm a dark chocolate girl. you've got to learn more about how to prevent and treat heart disease. just visit go red for women.org. stocks are in the red. they are in the right color if you are talking about heart health. one of the biggest names in security locking itself up solidly in the green. to susan li, who's got that story and more in today's fox business brief. susan: i agree, dark chocolate is very good. let's talk about norton lifelock, topping estimates with its latest quarterly results. shares, though, are plunging earlier in the week on expectations of weak results but today, going the opposite direction, making strides and surging close to 12%. pinterest shares set for their biggest one-day gain in more than six months. revenue at the online bulletin board jumping 26% in the fourth quarter being fueled by a 26% pop in active monthly users. and workday shares getting the job done ahead of the weekend. goldman sachs adding the cloud-based h.r. firm to its conviction buy list saying it still believes the company is good long term and the recent underperformance versus its peers has only made shares more attractive. shares are up some 3%. up next, liz has an all-star panel to debate which side of the tesla bull/bear debate you should be on. "the claman countdown" is coming right back. beyond the routine checkups. beyond the not-so-routine cases. comca

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