Transcripts For FBC The Claman Countdown 20240713 : vimarsan

FBC The Claman Countdown July 13, 2024

170 points to the upside. Look at the nasdaq, up almost 7 right now. Again, we are keeping a close eye the dow. It could be the best day for the Dow Jones Industrials since 2008. We are on the markets for you. Liz is coming up, plus we are talking about wall street. They are rallying. Now the crisis. This coronavirus still has a big part of the economy shut down and we are shut in right now. Medley pharmacy is promising same day delivery of prescription drugs to anybody who needs them. Its cofounder will be here in a fox business exclusive. As china slowly gets back to business, the Footwear Industry is hoping to get back to churning out new products. We will talk to one industry exec about how the pandemic is actually punishing business. A lot of business is punished but this one in particular. You will want to hear about this. Plus, with gyms closed, your favorite classes are canceled. We will talk to the ceo of class pass about how he is helping shuttered studios and you can actually work out, get that fitness regime while you are under quarantine. We have a lot of tips on that. And liz claman will join us in a moment. Shes working from home on selfquarantine. She never stops. Shes got some exclusive news on broadway shutdowns and if the show must go on for the tony awards thats coming in the middle of an outbreak. We will get an update in just a few moments. We are on a lot of breaking news right now. Taking a live look at washington. We cant watch washington enough right now, especially the senate and the senate floor. All the senators right now are making their speeches, making their cases. We are still waiting for word that this deal has been reached on possibly a 2 trillion coronavirus stimulus deal. The leaders of the senate both hinting that a deal is close. Nancy pelosi earlier today, about three hours ago, hinting that she thinks the deal can be struck. Reports say the Emergency Rescue package will make, get this, direct payments to americans, provide socalled unemployment on steroids, as in a lot of unemployment to folks, 367 billion in aid for Small Businesses and then youve got 500 billion for large corporations. That was one of the sticking points, we understand, between the democrats and the republicans. We are watching every development in the halls of congress and of course, our eyes are on that senate floor. We will bring you any details as they come in. Our reporters are standing by for all of that. We are also looking at this industry has had a tough time, travel stocks. They are flying up to the top right now of the s p 500 as government efforts to soften the blow from the coronavirus pandemic give hope to investors. As you can see, mgm, wynn, marriott, casinos, hotels, these stocks are bouncing. Look at that big old jump on wynn resorts. Mgm is up more than 30 . Las vegas is shut down so we are following these companies. Also, dramatic measures from the fed and these efforts to pass this economic stimulus package is boosting cruise operators. Thats a group thats taken a massive hit right now. There you can see norwegian, Royal Caribbean and then heres one, united airlines, that stock had been down about 50 . Look at the stock now, up 19 . Airline sector, very hard hit. Cruise ship industry, very hard hit. The story is changing and its up today. All right. Lets take a separate note here. Credit Ratings Agency s p cut Delta Airlines to junk. What does this mean . It means the airlines have to pay more to service its own debt. You never want to see that. But delta up 18 right now. Remember, the fed has been moving money into the credit market. General motors suspending 2020 guidance and twitter withdrawing its revenue and its operating forecasts for the First Quarter of this year. Those stocks both to the upside. General motors up 16 . Then youve got this. Food company mondolese international have raised pay for their employees by 2 an hour through may 2nd. Anybody that works in distribution, manufacturing, sales workers, and they are going to hire 1,000 employees to cope with increased demand for food. Lot of companies are hiring in this space. We are watching them and that stock is up almost 11 . All right. Finally, we will look at gold. Gold has been so interesting. It spiked about 6 today, settled at 1,660 and change per ounce, the biggest daily rise in 11 years. Whats interesting, you have the markets up and gold up. Lot of questions about this particular contract and the safety plays. What does this mean for investors out there and to you . According to Goldman Sachs, now is the time to buy. You knew this was coming. They are saying gold is the currency of last resort and they say its a hedge as policy makers act to accommodate shocks to the market and to the economy. Gold has slipped will about 2 the last month. Goldman holding the target of about 1800 an ounce. Thats where they say gold should be. Lets bring in our traders, joining us via skype. Thomas, first to you. What do you think about this call on gold by Goldman Sachs . Well, we are agnostic on gold. We think maybe it can go a little higher in the short term but you have to keep in mind the major holders of gold are going to be the ones that need the most cash. When you look at russia with low oil prices, they will have to sell some of their reserves to pay for their programs. Italy is another major holder of gold. They will be needing some money for their spending programs. France, germany. Maybe in the short term, on Inflation Expectation from all the quantitative easing, et cetera, but in the intermediate term, you have to think who are the buyers and who are the sellers and those Federal Reserve banks in each of those countries are going to need to raise cash. So we like, generally, high quality businesses because they produce something and many of these companies have gone on sale, as you know, in the last handful of weeks and some of the highest Quality Companies are selling at 50 off. Now, does that mean they cant go lower . Of course they can go lower. The Economic News is going to get worse in the short term, thats for sure, but the market is also discounted a lot of that bad news already. So for instance, if you had bought in october of 2008, by march of 2009, you looked silly, you were wrong, but by june of 2009, you were a genius. So on red days, we are nibbling into the highest Quality Companies like for instance, cocacola is down 40 . Their yield was 4. 4 . Cost like jpmorgan, best in class, down 42 peak to trough, 4. 3 yield, et cetera. Thats kind of where we are thinking about it slowly and cautiously. Its not the bottom. No one can pick the bottom. But if you can take a longer term view, there can be opportunity in coming days and weeks and on green days we just sit tight and add on red days. Cheryl i want to go back to the issue of gold and more importantly, phil flynn, the issue of copper. Because that is actually a china story. As we know, china is now getting back up and running. Supply chains, we have heard from several companies, are now actually churning out, you know, their manufacturing again. You say copper is a big piece of that. Why . I really do, because copper has got absolutely crushed on the coronavirus, because the demand destruction mainly coming out of china, the worlds biggest consumer. But we saw it today along with the other metals, that market is coming back in a dramatic way. We are up over ten cents today and it could go a lot higher. Listen, theres going to be pentup demand once the economy comes back and thats going to be great for copper. Gold, too. Remember the power of quantitative easing on gold. The last time in 2008 gold hit a low i think of like 686, when the fed started to do qe we went up over 1,000 an ounce to 1,000. I dont think you can underestimate the power of what happens with quantitative easing with that yellow metal. Cheryl the dollar story as well which i know affects oil which is of course, your specialty but the currencies and of course these commodities like gold and copper, silver as well, go hand in hand. Thats what Goldman Sachs says, buy gold. All right. Guys, thank you very much. I appreciate it to both of you. Thomas hayes, phil flynn, see you soon. Well, lizzy claman is still quarantined but out of caution, obviously. She is the anchor of the claman countdown and joins me right now. Youre outside. It looks beautiful. Looks gorgeous. Okay. This is not quarantine. This does not count. Liz let me tell you something. This is a family affair. Ive got my son holding an umbrella to block the light. We fashioned, my husband fashioned with tinfoil and the top of a table the reflector and my daughters holding the tripod. If its not perfect, please forgive us. Cheryl you are putting the kids to work. Liz yeah. Over my shoulder you see the gw bridge. I was checking the cars and of course, you were just talking to jeff flock about the truckers and how hard they have been working. On any given day, you have cars every few feet. Well, now its about seven car lengths per car. There are very few cars going over. Way more trucks. They have been sitting there trying very hard to get all the equipment and all of the deliveries into and out of the city. So hug a trucker if you see one. We are looking at the markets. I can do everything from here. I have to tell you. What i noticed and i wanted to point out to the viewers is the trend line since, if you go back to march 11th. We can put this up, actually march 10th was a very good day but what we are going to show you is how each day we see either a move very high up or a move down, and the trend line is truly what matters. So today happens to be a very big move to the upside, but back on the 3rd of march, we had a jump of 1,167 points, then on the 11th, you can see a big drop of 1,400 points. That whole thing got erased. Then it goes on. On the 12th of march, the big loss, down 2,352 and so on and so on. Lets bump over to march 20th. A loss of 913 points and then today, we see the big gain after the weekend, even though we saw on the 21st a drop of about 913 points. Today, as we see, we are looking at the second biggest point jump in history. The one to beat would be from march 13th, 1,985 points. Will we best that . Well, we have to wait and see. But whats important from that graphic that we showed is that trend line and the trend line goes down. When will that reverse . Well, of course we all believe that that will most likely reverse not when politicians pass different bills or when people say that they think the economys going to reopen. It will be when that bell curve starts to plateau or we get a vaccine and some kind of treatment for the coronavirus. Pretty much as we come back out here, im in new jersey and we know that all of our friends and certainly my team, im calling my team on the claman countdown the quaranteam. They are all quarantined out of an abundance of caution, of course. We are all hanging in there and our big priority is to make sure we are healthy and that you, all of our viewers, get information. Speaking of information, coming up a little bit later in the show, ive got some breaking news that is exclusive on the tony awards and on broadway. As you know, all of the 41 broadway theaters have been shuttered. We are going to get you some news on whether those tony awards, at least what we are hearing from producers of shows on the west coast and the east coast, say will or will not happen. Stay tuned for that. I will be back if jun just a fe minutes. Cheryl great job. Tell the kids they are doing a great job. Appreciate them helping out today. Liz you guys are doing great. Cheryl says youre doing well. Cheryl see you a little later on with that breaking news on broadway. And of course, the tony awards. Lets take a look at the heat map right now. We have the dow 30 and as you can see, i mentioned this earlier, you have chevron, boeing, big winners today. First to the oil giant, on pace, largest percentage increase since october of 2008. The ceo was on with Maria Bartiromo this morning. He wants to preserve that dividend. He says the Aerospace Giant could survive without a government bailout, would not accept aid if the government wanted an equity stake if that was mandated. Take a look at chevron. That stock is up 18. 5 . You also have boeing, up 14 . The two stocks we are watching, big movers. Coming up next, a solution for coronavirus shutins in desperate need of prescription drugs. The cofounder explains next that the fox business exclusive, when the claman countdown comes right back. You met on an app. Delete it. Why . Hes the one. Gesundheit. [sneezes] i see something else. A star. With three points. Youre in a. Mercedes. Yeah, we wish. Wish granted. With four models starting under 37 thousand, there could be a mercedesbenz in your very near future at the spring event. Lease the a 220 sedan for just 349 a month with credit toward your first months payment at your local mercedesbenz dealer. Beyond the routine checkups. Beyond the notsoroutine cases. Comcast business is helping doctors provide care in whole new ways. All working with a new generation of technologies powered by our gigspeed network. Because beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected. To do the extraordinary. Take your business beyond. Its our most dangerous addiction. And to get the whole world clean . That takes a lot more than an alternative. So we took our worst vice, and turned it into the dna for a better system. Materials made from recycled plastic woven and molded into all the things we consume. We created bionic and put the word out with godaddy. What will you change . Make the world you want. Cheryl all right. Taking a look at pharmacy stocks at the moment. I want to show you cvs and walgreens. Both stocks are up. Walgreens Boots Alliance up more than 3 right now. Riteaid is down. But the news on walgreens i want to bring to you, they are on a hiring spree in addition to raising wages for their hourly employees, riteaid also offering free prescription Home Delivery Services Amid the coronavirus. Yes, riteaid is down right now but our next guest was well ahead of the prescription Home Delivery curve. As his startup has been poised since before the pandemic to help homebound consumers. Medley is aiming to put brick and mortar pharmacies out of business all together. Its a full Service Digital pharmacy that delivers your Prescription Medication to you for free. It is the same day if you want it delivered anywhere in new york city, new jersey and philadelphia. They are announcing exclusively on the claman countdown that they have now partnered with Emblem Health. The cofounder and cmo joins us now via skype in a fox business exclusive. Thank you for being here, sir. Thank you so much for having me. Cheryl tell us about this new deal you are just announcing. How did this come to pass and how quickly did the deal happen . Yeah. I think emblem and medly, obviously two strong partners in the health care ecosystem. What we are trying to achieve here is to provide an endtoend solution for folks that are selfquarantining or staying at home but they still want access to their medication. So we are excited to be able to offer the solution to people all over but specifically its a big need here in new york city as well. Cheryl you know, cvs has, we should add, prescription delivery and i think this is going to pick up for a lot of these companies. They are all going to be looking, doctors are going to want to bypass your local pharmacy. Thats going to be a competitive environment for you, i would think. You know the beautiful thing, you mentioned in your intro, we started the company in june 2017 and as Second Generation pharmacy owners, we saw specifically what are the main challenges that patients are having and delivery is something we have been doing long before. We have a welloiled machine. We have a contingency plan in place operationally to make sure patients are able to get their medication. So some of the hiccups you might have with other companies you dont have at medly given we have been doing this for such a long time. In many ways, i would say medly was built for situations, to handle situations like this. For us, we want to kind of invest in the communities we are serving with partnerships like Emblem Health as well as other telehealth and hospitals out there. Cheryl riteaid is doing free deliveries. I mentioned the competition. But im curious about your delivery workers. These delivery workers that are out there on the front lines are taking risks as well, especially in places like new york city. How do you make sure theyre safe . Great question. I think one thing that weve done an amazing job of with our hr and ops team is implement a contingency plan, including things like contact list delivery. Depending on your insurance, we can deliver the prescription as an example through contact list delivery. Secondly, we have a process in place to hand sanitize and provide the relevant equipment so that people that are delivering dont get exposed or dont give anything as well. And thirdly, we have uber rides, for example, for our employees and lunch and dinner so that they are staying contained within the location itself and not going out. So from our standpoint, we have done a lot of things to make sure that we are taking care of not only our patients but also our employees. Cheryl again, same day delivery is great. Thats something thats new the a lot of people out there. Certainly given the refill is already done, you dont have to wait in line at the pharmacy because we dont want to be close to each other anymore, it seems as americans. Congratulations, sir, for coming on and certainly keep us posted. Thank you. Thank you. Cheryl all right. Take a look at the dow right now. This could be, we could have a record close. Not record as in we are way off our records but this could be, could be the best day for the markets since 2008. At this point, we would take it. Dow up 1792. We are not at session highs. Anything can happen. Weve got about 39 minutes to go until the bell rings and anything can happen, as you have been watching this show. Also, this is comcast. They are having kind of an up and down day. They have the postponement of the 2020

© 2025 Vimarsana