193. Dow looks kind of squishy here, down 70 points. Also rising and in a very bad way, covid levels. Coming up, physician and creator of aipowered Symptom Tracker buoy, andrew lay, on the role his startup is playing to contain the virus as it viciously rears its head again. Tiktok versus the Trump Administration. In less than 24 hours, that deadline for the wildly popular chinese owned social media platform to sell itself to oracle, that deadline arrives but is the short form video app about to upend President Trumps battle against it . We go to the white house as tiktok fights to stop that clock. On this veterans day we honor two Service Members who sacrificed more than anyone could ever ask them to. Now back at home, they are the living and breathing embodiment of the american entrepreneurial spirit. We cannot wait to introduce you to these amazing heroes who credit one particular gift for helping them get back down to business. First, we start with a fox business alert. The Hedge Fund Manager who is up 44 this year now betting things are about to get very tough for corporations. At a Financial Times event, activist investor bill ackman of Pershing Square capital says we are in a treacherous time and investors have gotten too complacent about the epidemic. Hes now making a similar bet that made him billions earlier this year. That bet . Buying insurance policies against corporate defaults, a trade that netted his company 2. 6 billion. Yes, Goldman Sachs making the opposite call. Goldman just boosted its year end price target on the s p to 3700 from 3600. We are currently hovering above 3560. We are really kind of close to 3700. Not too far there. Goldman, not done yet. Also targeting 4300 for the s p by the end of 2021. To our floor show traders. Tom hayes, phil flynn. What do you guys think . Considering we are now topping one million covid cases in texas, nearly 140,000 new cases nationwide yesterday alone, and of course, the spiking hospitalizations, record high, more than 60,000 people treated. Tom, do you take one side or the other, ackman, goldman, maybe a little of both . Whats the trade you see there . We are celebrating two sets of heroes today. The veterans and of course, the doctors. While cases have shot up tremendously, the deaths yesterday for covidrelated deaths were only nine for the whole country. So treatments are getting much better. Obviously the vaccine was a huge catalyst for the goldman call because no one could have anticipated 90 efficacy so thats coming down the pike. We have moderna coming soon and a lot of good things happening. Im going to side with goldman. The premise here is that the consensus earnings estimates are too low at 168 for the s p 500. He has them at 175 and the thing im keeping my eye on, not today but as a trend, is the tenyear yield because that steepening is going to add earnings power to banks and thats going to add a lot of earnings power to the s p 500 next year, number one. And number two, the banks are overreserved by about 25 billion. They made those assumptions when people were looking at 20 unemployment. We are now at 6. 9 unemployment so thats all going to come back as earnings power in 21 and 2022. So lot of positive things to look forward to, liz. As far as the greatest trade with bill ackman putting that hedge on his equity portfolio, its very uncommon to have two greatest trades in one year, as we saw with the big short, it was very hard to replicate that performance moving forward. You only have to do it right once. Liz yeah. Thats right. That is true. Phil, you see that twoweek chart of the tenyear yield . Guys, we dont want to get too wonky here but when the yield starts to spike, thats a 13 basis point jump over just one week, which means there is not a lot of fear in this market. You could look at the vix, 13point drop since last week, seven trading days ago. Which side do you take here, phil, and whats your trade . I go with the goldman. Even bill ackman, i dont think he totally believes in this trade either. You know, that last trade really bailed him out. His fund was actually down 7 . This was the one trade that he bet on, he bet big on the corporations being hurt by the defaults and he won on that bet. But even on this bet, he seems halfhearted with it. This time were not going all in, were going in about 30 and basically, i hope im wrong, because what that tells me is that hes doing this liz he did say that. Yeah. You know, hes doing this as more of a hedge, and he kind of believes the markets going to go up but this is a just in case scenario. The worst thing for him obviously is this vaccine because the odds of the vaccine, low Interest Rates which we have been seeing, right, thats going to be an interesting thing. But you look at those bond yields, surprisingly, you look at the 30year bonds, they are making the loans on the futures, the high on the yield, tenyear yields have been falling. I think that could chart a little bit. I think its a little bit overdone. But i think the way i would play it, i think i would want to be, the short end of the curve if we get this vaccine i think could gain him the longer end of the curve. Liz okay. Is that your trade . Do you look at anything thats just horrible right now, tom, you would say forget it, this is not going to be a good play . Well, tell you what i do like. I like fox corporation, believe it or not, over 80 million subs, you get a piece of the claman countdown. They have authorized over 2 billion of buybacks. They bought 500 million of shares back at 35. You could go into the market right now and buy it at a discount to the company. I think the trends are very positive coming out of this new business cycle. Liz sold. Im sold on that. Thank you very much, guys. Good to see you, tom, phil. We appreciate it. We need to tell you about covid19 cases. You know they are continuing to spike to record highs across the country. With the u. S. Now, we clock about 10. 3 million cases, 240,000 deaths, bringing new shutdowns to states across the country. Sort of pinpointed shutdowns but minnesota, new jersey, maryland, massachusetts, those names are all hunkering down, spreading the message put out there by the cdc, please wear your mask. A Goldman Sachs study says 15 more people in the u. S. Wore masks, it could save 1 trillion in economic losses and prevent more shutdowns. Lets get more on the cdcs message from the white house and what we will also tackle this tiktok story but first, the cdc, blake, whos listening, whos not . Reporter new guidance from the cdc that was put out that basically says wear your mask. The updated guidance says there is a benefit for the actual person wearing the mask, but also those who are in the vicinity of that mask wearer. They also talked about the economic benefits of mask usage. For example, in that new cdc guidance, at one point it says the following. I will quote here. Adopting universal masking policies can help avert future lockdowns especially, they write, if combined with other nonpharmaceutical intervention such as social distancing, hand hygiene and adequate ventilation. They also talk about that Goldman Sachs study that you just referenced saying it could mean 5 to gdp. Speaking of other big numbers and the economy, liz, the stimulus package or at least a lack thereof at this point, still no way forward as to how that could shake out here in washington. On this show yesterday, sheila bair even sounded this alarm as to what congressional inaction might mean. Watch. We could be in a very bad situation because if households become more distressed, Small Businesses in particular become more distressed, they start to default on their loans, the Banking System becomes distressed and then you have a financial crisis in addition to a health crisis. Reporter everything that we have seen suggests there is not going to be some sort of stimulus package any time soon. You also mentioned tiktok. There is of course that cfius deadline tomorrow, cfius, the treasury department, the other building behind my shoulder. Tiktok has said they havent heard anything really in terms of updates from the Trump Administration in the recent days and weeks, and they are trying to see and at least wait as to how all this may or may not shake out in the upcoming 24 hours or so. Liz . Liz well, yeah. Its 24 hours and tiktoks complaint as you know, they are going to file this petition, their complaint is that they have not heard from the Trump Administration about all the issues that they feel they have remedied. We shall see. Chinese owned, we can look at oracles stock. I want to quickly check that at the moment because oracle is the one that says okay, well pick you up but its really not even a purchase. Its simply a very Small Partnership which does not fall under the you got to sell yourself and completely divest to a u. S. Company. Reporter yeah. There were all these backandforth about who might they partner with, how would all this work, what are the securities concerns, the securities concerns being the whole cfius process in all of this. Tiktok is saying we havent really heard from the Trump Administration whats going on here. Well see, i guess, how it plays out here shortly. Liz maybe its no longer a priority. We know things are crazy and busy in washington, where you are. Blake, thank you very much. Okay. Then weve got this. As americans wait on the next relief package to form, as blake just said, it aint forming, retail giant gap partnering with afterpay to bring a buy now, pay later feature to its family stores, old navy, gap, banana republic. Customers who shop online can pay off their purchases in four interestfree installments. Shares of gap down about 2. 6 . On the perception, perhaps, that maybe they will lose money on that deal. We shall see. Afterpay jumping 4 . Now eight months into the pandemic, a protein focused restaurant chain jumping on the meal plan delivery band wagon. The stock reaction may just tell you whether the covid trade is still hot or not. Closing bell ringing in 49 minutes. The nasdaq jumping 201 points. We are going to show you that restaurant chain and what its doing next when the claman countdown returns. We all have our own journey ahead of us. Our own hopes and dreams. Well pass many milestones. Moments that define you. And drive you. To achieve even more. So, celebrate every one. Because success isnt just about where you want to get to. Its also about how you get there the all new 2021 cadillac escalade. Never stop arriving. Its time for aerotrainer, with your weight and health . A more effective total body fitness solution. announcer aerotrainers ergodynamic design and four patented air chambers create maximum muscle activation for better results in less time, all while maintaining safe, correct form and allows for over 20 exercises. Do the aerotrainer super crunch. The prestretch works your abs even harder, engaging the entire core. Then its the back extension, super rock, and lower back traction stretch to take the pressure off your spine and stretch muscles. Planks are the ultimate total body exercise. Build your upper body with pushups. Work your lower body with the aerosquat. The aerotrainer is tested to support over 500 pounds. It inflates and deflates in less than 30 seconds using the electric pump. Head to aerotrainer. Com now. Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Liz fox business alert. While we know coronavirus is spreading like wildfire right now, two stocks are giving us an indication as to whether the covid trade is on or off. Let us look if we can at muscle maker grill. It is off the premarket spike. This is a microcap, by the way. Its off the premarket spike of 11 that we saw earlier after it announced a deal to roll out an online meal plan delivery service, but the stock is still jumping 6. 5 on belief that its Health Conscious clientele will pile in with orders. As investors weigh that, look at yelp. Yelp is down. 66 . Listen, evercore believes in it, giving it a big vote of confidence to shares of the restaurant review crowd sourcer. Evercore has raised the target price to 37 bucks. Right now its at 28. 51. With an outperform rating, saying a postpandemic world is great for the stock but obviously, still not in there. It should be fine for the company and it will still have traction due to restaurant and takeout demand. Month to date, yelp is up 50 . Sticking with the dining during the pandemic theme, Chipotle Mexican Grill opening its first takeout only restaurant saturday in highland falls, new york. This location will have a kitchen and a lobby but no dining area. Customers place their orders online and you can pick up or get it delivered, but theres no real interaction at all there. Chipotle Mexican Grill stock up 5. 25 on that news. Look at fubu tv hitting an all time high after it reported a rise in Third Quarter revenue, forecast a higher Fourth Quarter and paid subscribers hit a record high. Its jumping 5. 7 . The great rotation out of tech stocks is kind of missing in action at this hour as tech shares make a comeback. Look at market cap of apple. Right now, its jumping 2. 6 . Its market cap is now back above 2 trillion. And the nearly 3 bump, where did that come from . Well, after yesterdays big one more thing event during which the tech giant unveiled three new Mac Computers to its portfolio, all powered by their very own apple m1 chip. Then we can look at zoom. Zoom, after mondays Pfizer Vaccine news, dumped water on shares of the Video Conferencing leader, zoom is enjoying quite a comeback. Its up 8 at the moment to 406. 70. But you know, you look at the beginning of the last couple of sessions, you can see that that tech rotation everybody thought oh, this is it, this is for real, well, yeah, look at the nasdaq. We have put that back up on the bug here. We are up 204 . Those two names barely scratched the surface of the tech stock resurgence we are seeing right now. Lets get to cheryl. Shes got more leaders and some laggards . Cheryl interesting story here, because alibaba, first the good news, set new records for its singles day, their version of prime day. They clocked in 56 billion, yes, billion, on the first day of the event. A total of 75 billion in sales in total. But the stock has been under pressure due to regulatory issues and concerns in china. There is worry that the Chinese Government is going to clamp down on Technology Companies like alibaba. The stock right now is down more than. 25 but remember, its up about 25 year to date. Theres the context for that one. Speaking of tech and regulatory issues, amazon is feeling the heat. The European Union is charging the ecommerce behemoth that it is quote illegally distorting competition in Online Retail markets. So the commission has decided to open a second investigation into amazon. The question now, does that spill into the united states. The stock is up today, as you can see, almost 3 . Amazon also up about 68 year to date. Then i want to leave you with this one, our favorite stock, peloton fresh off the big news they secured an exclusive partnership with none other than beyonce. You love that, right . The stock is outperforming as you would expect, up 273 year to date. Right now its up 1. 5 . It didnt get a big boost from the news but that was also on the heels of the pfizer coronavirus, you know, the vaccine, excuse me, news out of pfizer and biontech on monday. So its been kind of an interesting week for these companies. Liz well, so much depends on whether people feel comfortable going back into public gyms. We will be watching that. For now it looks like pelotons in a sweet spot. Thank you, cheryl. Here we go. I keep looking at the nasdaq. We are up about 207 points. They went to faroff war zones to serve and came back gravely wounded and hanging by a thread. But on this veterans day, you are about to meet two heroes who endured the unimaginable, came home and now run their own very successful businesses. How did they get back on their feet after losing their legs . With the closing bell ringing in 40 minutes, we are about to let them tell you their incredible stories when the claman countdown returns. Im telling you, you cannot move. You have to hear the story of greg and joe. Ith achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im 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. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. 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Com for risk information, instructions for use and free trial terms and conditions. Consult your Healthcare Provider before starting on omnipod. Simplify diabetes. Simplify life. Omnipod. Liz President Trump and president elect joe biden both honoring the nations fallen on this veterans day. President trump at Arlington National cemetery and joe biden at the Korean War Memorial in philadelphia. Now look at these two heroes. U. S. Marine corps Sergeant Greg caron and u. S. Air force Master Sergeant joe delauria. Both men had their legs blown off when they stepped on roadside bombs while serving in afghanistan in the fall of 2011. Today, they are not just vete n vetera veterans. They are now American BusinessSuccess Stories and we welcome Sergeant Greg caron, founder of americare and Master Sergeant joe delauria, founder of jr custom metal engraving. I need both lawn care and metal engraving so you just got a new customer. Right . Its so great to have you. I want to start with you, joe. Joe, when you got injured while serving as an explosive Ordnance Disposal team member, your wife was eight months pregnant and your life ended up hanging in the balance. How difficult was the journey from then to running your business now . It was really a long journey initially when i was injured. You kind of just dont know where youre going to go and what were going to do. Thank god that i was able to come home and she was there to support me and we support each other. We are a great team. Its been so amazing, this long journey coming back and recovering and finally getting back to work and being a productive member of society. Liz tell us about jrs custom metal engraving. Why did you pick that and how is that business going . A lot of people who have never suffered the wounds that you have find it very difficult to start a business. Well, in the beginning, i was looking for a job and i just didnt really want to work for anybody. I always wanted to be an entrepreneur. I decided to start my own business and i had done some Market Research and found that there was a need for engraving, whether it was in metal or any other type of material. So i just kind of dug in and jumped in with both feet and started doing my research, and got some machines with the aid of building homes for heroes. Liz we will get to that in a minute. Those are my peeps. All right, sergeant, i want to get to you and really focus on the fact that unbelievably, you suffered your injuries november 11th, 2011, on veterans day. Talk about that moment and what went through your mind, am i ever going to have a regular life . What is life going to be like . And then you fast forward to today where you have a thriving lawn care business. Yes, liz, and im very thankful for building homes for heroes for coming into my life after my injury. Andy, the founder, hes just really stepped forward and involving us with their family and having that and having them support us thahas really helped through my recovery over the last years, which led me into starting my own business here a few years back. I was working for a gentleman and he was getting ready to retire. I enjoy being outdoors, its peaceful to me. I just found a lot of peace in it and i just wanted to stay in that same routine. Thats where i felt comfortable. So he offered me the opportunity to kind of take over his business and i started off with 40 of his accounts, i created my own business, obviously, then from the beginning three years ago to now, im up to 160 accounts for mowing, weekly accounts, and everythings going really well. The Community Around me has supported me. Building homes for heroes has supported me. My wife, shes my number one teammate. She keeps pushing me. So you know, im so thankful to be here today and not only that, but to now start and run my own business and kind of give guidance to the people of our future, you know, the younger generations where they can see, you know, we all face different challenges in life but they can see regardless of any outcome or anything like that, that anythings possible as long as youre motivated and you want to do better for yourself. Liz you know, it means so much to us because of course, for our longtime viewers, they know that this has been my passion project, building homes for heroes. Org, where we build custom mortgagefree homes to hand directly to the most wounded veterans, the worst wounded, and these homes are customized to every single detail. Joe, can you tell us what helped you about that home and by the way, everybody should go on, i dont care if its 5, 50 cents, 50 bucks, please donate. The numbers at the bottom here, building homes for heroes. Org. What specifically about the house helped you . It really helped, you recover mentally, you recover physically at walter reed or any of the other fine hospitals we have around the country that serve veterans that are wounded. The house, you know, it gave us a home for us to build our family and luckily, we were able to have another child as well so we have two children, one preinjury, one postinjury, and we expect, i mean, i didnt know what to expect from it, from an organization like building homes for heroes. The home was a gift but the whole family of veterans that you fall into with this organization, like andy has done, and you have seen it, liz, its an amazing organization. The Team Building we do, with the grants they have given, the continued support, even with these times with covid and they have given us grants for that and to keep us going in tumultuous times. Its continued, continued support. Liz joe, greg, no one should come up with any excuse as to why they cant reach for their dreams, looking at both of you. We so appreciate your service. Thank you. On this veterans day, you know im really thinking a lot about my greatuncle jack fabish who of course was in the canadian military. He served. You know, lieutenant Sergeant Jack fabish in the Royal Canadian artillery. He died in the normandy invasion. I got to visit his gravesite on the windswept coast. Thats me and my sister in normandy just two years ago. We found his grave among the hundreds and hundreds of them. Yes, canada, england and of course, america, lots and lots of heroes that we thank and remember today. If you are so inclined, please think about these heroes who have survived. Building homes for heroes. Org. Anything you can find in your heart, it would mean so much and greg and joe are just two of many that the need is so, so great. The lines are long of the worst wounded that are still coming back from the war theater. Please think about it and thank you so much. When we come back, much more. Nellie young lost her devoted husband. Without him, things were tough. Her last option was to sell her home, but. Her home meant everything to her. Her husband had been a High School Football coach and it turned out, one of his former players came up with an answer. A loan, created just for older homeowners. And pretty soon, nellie young had one of the first reverse mortgages. Discover if a reverse Mortgage Loan is right for you. Use it to eliminate monthly mortgage payments and increase cashflow, create an emergency fund, preserve Retirement Savings and more. Call now for your free information kit. That first reverse Mortgage Loan meant nellie could stay in the home she loved so much, with memories that meant even more. A reverse Mortgage Loan isnt some kind of trick to take your home. Its a loan. And its taxfree cash just when you need it. Its about making your retirement better. Call today and find out more in aags free, noobligation reverse Mortgage Loan guide. Access taxfree cash and stay in the home you love. Of course, you can use it to pay some bills, cover medical costs, update or repair your home. But best of all, it eliminates those monthly mortgage payments so you get more cash in your pocket, every month. Learn how you can use a reverse Mortgage Loan to cover your expenses, pay for healthcare, preserve Retirement Savings, and so much more. A lots changed since 1961. Since then over a million Older Americans have used a reverse Mortgage Loan to finance their retirements. It meant so much to nellie, maybe it could mean as much to you. Call now and get your free infokit liz we are going to show you teledoc. Teledoc is getting a double dose of positivity as we head into the final 13 minutes of trade here. Weve got the Virtual Health care provider rising 5 after raising its Fourth Quarter revenue forecast. That good news coming on top of bullish comments from cowan. Cowan indicating the performance of telehealth wont be neutralized by a covid vaccine. The need will still be there. But what does this mean for others in the Virtual Health care space which has really blossomed during the pandemic . Enter buoy health. This is an aidriven assistant that helps people selfdiagnose to get the right care at the right time. Is it flu, is it pandemic, what is it . Helps you do that. The Venture Capital arms of major insurers cigna, humana and United Health are so interested in this particular name that they just closed 37 million funding round and that now has buoys valuation sitting at nearly 200 million. Buoy health ceo dr. Andrew lay running the whole show. Doctor, talk first about what exactly makes you guys different from all of the telemedicine names we have been talking about over the past eight months. Great question. We are a telemedicine company. We arent hiring doctors to sit on the phone and talk to patients. We are really, if you think about telemedicine as one of the front doors to health care, we are really the sidewalk to the front door and what we are trying to do is help people figure out whether i should call a doctor at all or whether i should stay at home or go see a doctor in person. We are really helping people make that navigation decision on what kind of care i should seek and when. Liz so whos signing up for this . I would imagine there are a lot of companies who are trying to get their employees back into the office, schools and how do they hook up with you and what is asked within this app . So employers of all kinds and also Large Insurance Companies are using buoy right now for purposes of navigating the pandemic, and when it comes to reaching out, they will reach out to us directly, we will sign them up and then have all their employees start using buoy and today, one of our products, the employee is actually selfassessing their symptoms and if they are asymptomatic and havent traveled anywhere, we will give them a pass to come back into work. If they have symptoms, we will obviously help them navigate to getting testing, to getting to a doctor to talk to them, and give them the help they need. Thats kind of our backtowork product. Our core product is on buoy. Com. You could go there for free for any kind of situation that you ha have. And it will help you figure out what to do next for your symptom or for your illness. Liz whats your Business Model . Obviously youve got Venture Capitalists falling over each other to put seed money in here. How are you planning to make money . So we sell an enterprise product to selfinsured employers as well as health plans, and they buy the enterprise version of buoy that gets customized to their specific network of doctors, specific Telemedicine Services like a teledoc, such that when one of their members or one of their employees has a question and is sick and doesnt know what to do, they can go to this enterprise version of buoy. They dont pay anything but now get navigated into the innetwork service thats perfect for them. The consumer, though, whether they come to the enterprise product or go to buoy. Com never pays for buoy and its paid for by that employer. Liz we like free. Investors like subscription. You are a harvardtrained medical doctor. Do you miss practicing . Are you somehow able to still continue to keep one foot in that . Do you eventually think about going fulltime back into medicine . Its a great question. I actually started the company when i was in my last year of medical school and ended up taking this very long delusional sabbatical from school because i kept seeing all these patients who were googling not going to the doctor at the right time. I ultimately went back to finish and when i went back to finish, i started thinking about do i, you know, start practicing and what i realized was that for buoy, we see a new patient every 13 seconds. Even if i was the most efficient doctor on earth, the impact that i could have as an individual versus what i could have through a company like buoy was just apples to oranges. So decided if i really am thinking about helping people at scale, what we are doing here at buoy can make a lot more of a difference for a lot more people and decided to go back to running buoy. Liz my dad was a surgeon and he would say oh, my god, google, its great but my patients keep calling and saying i saw on google and then five different answers to one single question. It can be a little tough. Good luck to you and buoy. We will be watching the development. Thanks so much. Thanks for having me. Liz dr. Andrew lay of buoy. Coming up, we have a veteran brokerdealer whos making big money even as the constantly shifting markets and political backdrop keep you, the investor, guessing. Hes joining Charlie Gasparino in just a few moments. And kodiak cakes. I know you have been hunkering down during the pandemic and making pancakes. This guy, joel clark, went from towing his red wagon at the age of 8 around his Salt Lake City neighborhood with his moms flapjack mix at 8 years old to building a multimillion dollar pancake powerhouse. You will not believe how long it took him and the mountains he had to climb. But he found the recipe for success. You got to hear this. Its my latest episode of my everyone talks to liz podcast. Hear how joel scaled mountains through his journey to find sweet success. Its on spotify, apple, wherever you get your podcasts. It is the Great American dream story. With a twist. Yum. All right. Closing bell, 16 minutes away. The nasdaq increasing its gains. We are up 220 points. Well be right back. Since pioneering the suv in 1935, the chevy suburban has carried many things. Nothing more important than family. Introducing the most versatile and advanced chevy suburban and tahoe ever. This is the feeling of total protection now that we protect your identity, and mobile phone, as well as auto home and life youve never been in better hands allstate click or call for a quote today its time for aerotrainer, with your weight and health . 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And if we win, we get to tell you and doug. How Liberty Mutual customizes Car Insurance so you only pay for what you need. Isnt that what you just did . Service stand back, im gonna show ya how doug and limu roll, ya you know you got to live it if you wanna wi. [ music stops ] time out only pay for what you need. Liberty. Liberty. Liberty. Liberty. Liz all right. Lets take a look at the markets here. Yes, the dow is flagging, but really flat. Could we turn positive in the next couple of minutes . Its the nasdaq thats the star today, up about 224 points or a gain of nearly 2 . The s p jumping 25 . On this veterans day, you know, we often find these stories weave in and out of the financial markets. Elton johnson is a man who fought and served our country for more than three decades, seven different deployments and now runs a broker dealer. He joins us along with Charlie Gasparino, his friend, and welcome to both of you guys. I want to first start with the tumultuous markets and you as a broker dealer are seeing flows and managing to keep the piping open and flowing during this constantly shifting ground underneath our feet. Well, liz, im happy to be here, first of all. I have been a stockbroker for 43 years. The fact im still working gives you an indication of what an expert i am on the markets. But i will say the [ inaudible ] last three days of the market and how long it continues, we have no idea. I think there will be a lot of surety and more and more people will step to the sidelines as the election process draws out. Its tough to call. Charlie Charlie Gasparino here. Nice to meet you. Your bio is impressive. But heres the most impressive thing, i think. You went off to war, you had to i guess you were in the special forces at that point. You had to put your business on hold and then you came back and restarted it. And you restarted it as a business that basically dedicated to soldiers, wounded vets. Can you tell us a little bit about that . Sure, charlie. Amerivet is the only disabled vet owned, minority owned broker dealer on wall street where the ceo and the disabled vet is a combat veteran. What our primary purpose is is institutional markets, where we try and form relationships and create opportunities for veterans on wall street. We have been around 26 years but as you said, most people have never heard of us because for a 12year period, i was actually on active duty so the firm was inactive. The first inactive firm, by the way, since world war ii because of my situation. Liz wow. Thats unbelievably gutsy. To me, to put that on hold, americans think about the american dream. Part of it obviously for you was to serve your country. What do you make of the situation that you see right now with the markets and how frightening it is, we are seeing something we have never seen before at least in our lifetimes and that is the pandemic, and what is your advice to investors right now who may be trying to navigate through this . My advice to investors is just to remain calm. Thats the primary thing. I have seen everything. I remember the hoopla when the dow hit 1,000. I have seen stuff that i have never seen before. This is something brand new, its something we have never seen before. Its similar to being in a combat situation. You have to stay calm, stay what they call mission oriented. What i call battle focused. Just have your goals in place and stick with your routine. Its the best you can do. Charlie let me ask you this, since i know you guys do some degree of Municipal Bond work. I know one of your guys specializes in that. Old friend of mine for many years. He worked at merrill and various places and now hes working for you. Where do you see the muni bond market going . Theres a lot of conflicting trends. For example, new york city and new york state needs to issue a lot of bonds but are facing massive budget deficits. Are muni bonds a place where people, because of the pandemic, obviously, are muni bonds a place where its still attractive right now for the average investor . I got to tell you, charlie, im the type of guy who likes to stay in his lane. Munis is not my expertise. I do know from talking to frank, they are having a tough time. Because of the covid situation, they are hurting businesswise in regard to their revenue. So i dont know how thats going to pan out but i think some way, somehow they will find a solution and this thing will work itself out. It just remains to be seen. Charlie i want to make sure, you are completely retired from the armed services, correct . I did 37 years, wanted to do 40 but i was caught up in the mandatory drawdowns back in 2013. Basically they had to drag me out of the service because i enjoyed being in the military. Im very proud of what i do. Charlie my dad was a marine. Liz we are proud of having you on. Wow. Tell you the truth, the marines was what i was set on. I wanted to become a paratrooper. I was in the marine reserves and of course, the budgetary issues with the marines, it was impossible for me to do that. I transferred over to the army, became a paratrooper, got my commission, did some time in special forces but i didnt get tabbed and then 9 11 came along and boom, i was gone with all the other reservists. Charlie good luck with your business now. The country thanks you. Liz, thanks for having him on. Thanks for having me participate. Liz of course. You kidding me . Well, listen, we thank elton. For tours in iraq, afghanistan, 37 years. Thank you so much for your service. And for what you are doing today. Charlie, elton, we are coming right back. We have about six minutes before the closing bell rings. The dow has just turned positive. We are going to call this the elton bounce. All right. We have made it through. We will see if it holds. Stay tuned. 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. All otc pain relievers including volthave one thing in common none are proven stronger or more effective against pain than salonpas patch large theres surprising power in this patch salonpas dependable, powerful relief. Hisamitsu. S. Liz we have the closing bell ringing in just under three minutes. The nasdaq is telegraphing to its doubters, hold on. Big tech heroes roaring back to life after a beatdown the past two days. The dow is the real nailbiter at this hour. Blinking in and out of the red. We were down 28. We turned into positive territory but not quite right now. The s p about to rack up the second upside day in a row with a gain of 25 points. We got Oil Inventory reports from the api, the american president troll yum institute, showing a larger than expected draw down in commercial crude down 1. 5 million barrels. That is a surprise because people have not been driving that much but the department of energy es eia report comes out tomorrow. Were forecasting for them a 1. 9 millionbarrel drop in crude stockpiles. Toby lofton says go into energy names. He has five billion in management with the ecp energy fund. Toby, nice moves. What do you attribute the moves at the moment considering the usage of oil has really, demand has not been there . Well, liz, as we talk to the companies in our portfolios we see demand recovery has been happening for months now, particularly with the mid dream companies that move Refined Products and natural gas. So were not all that shocked by that. I think its corroboration of what weve already been studying liz you like conocophillips, concha resources, pioneer. Tell us why you think there is a Common Thread with all these particular names, which by the way are flagging a just a little bit today . The Energy Transition to renewables is underway, there is no question about that if we have a biden presidency, the policy will be more favorable towards Energy Transition but it wont be dramatic policy changes bus that will penalize the consumer at the pump. [closing bell rings] the flipside you will have supply decline as you go into the later years. 2021 liz okay. Toby, thank you. When we hear the bell we have to hand it to connell mcshane. Connell thank you, liz. Big tech climbing higher today. That was the real story in the market the bounceback in big tech. The dow between gains and losses, looks like it will settle lower, certainly off the lows of the session however. You look at some names, the big financial and industrial stocks winners in earlier the week were a drag. It is settling down some. S p 500 had a solid day, percentage wise 3 4 of one percent but its with the nasdaq that was the story. That is todays real winner