Transcripts For FBC The Claman Countdown 20240712

Take shape across the nation. This is a live picture that we can show you of an event being held right now in brooklyn, new york. As you can see, there are people with the microphone, there are people Wearing Masks and they are sort of social distancing and most importantly, it appears very peaceful. Isolated incidents of violence did mar largely peaceful protests all across the United States last night. Some businesses still struggling with that double whammy of damage from both looting and the enduring losses of the coronavirus pandemic. We will speak to one Business Owner who is desperately trying to cope. With so many people gathered so closely together in the middle of the coronavirus pandemic, will we still see a second wave of the deadly outbreak sooner than the fall . We will take you straight to the front lines. Dr. James gasparino works in the trenches at Brooklyn Hospital center. He will give us an update on what he believes will be a new coronavirus spike. And what he expects to happen and when he says its coming. Plus, viva las vegas. The cards are being dealt, the dice rolling and the slot machines are ringing again at casinos in sin city but dont expect to see elvis belting out his hits unless hes wearing a mask. The founder of the popular blog vital vegas is here in a fox business exclusive on whether vegass high rollers are set to return to the tables. Markets are slightly lower today. Having a little trouble finding some altitude after weekly jobless claims came in just a bit higher than expected. But for the first time in weeks, below two million. The markets, though, are worried and waiting for that 42. 6 million unemployed americans could slow the postcoronavirus recovery. Dow jones industrials down 69. We have the s p in the red by 18 points. The nasdaq down 81. We are less than an hour to the closing bell. Lets start the claman countdown. Liz notwithstanding both the protests and the worries about coronavirus, apple shares have jumped 27 this quarter alone. They are kind of middling around today and slightly lower but as consumers once again emerge, we thought lets take a look at apple halo stocks. The company specifically that makes the stuff that goes inside the apple gadgets. This morning, it turns out skyward solutions which supplies wireless chips for the iphone hit an alltime high of 128. 77. Right now we are just below it right now. We are at 128. 04. But skyworks seeing real momentum over the past couple days. We also have lumentum moving slightly lower by 2. 25 . Qorvo up. 33 . Apple suppliers, the halo effect is in business right now. Simon Property Group in no mood to grant gap stores a rent reprieve. The mall operator is now suing gap for more than 65 million in unpaid rent. The clothing retailer is its biggest tenant. Gap stores up nearly 2 but as covid19 takes a toll on much of the retail world, Simon Properties group ceo david simon, and that stock is up 6 , has been pretty firm when it comes to all tenants paying up, saying on his may 11th Earnings Call quote, we do have a contract with them and we do expect to get paid. To the double hit from covid and looting, its got lvmh reportedly rethinking its purchase of tiffanys. Reports are swirling that Louis Vuitton is looking to renegotiate the 16 billion takeover of the iconic american jeweler. Shares are down half a percent. Tiffany is up half a percent. Sources say tiffany may sue if lvmh starts to balk or tries to get a discounted price. The pandemic has been good for costco. The membership warehouse retailer reporting an increase in may same store sales and Digital Sales more than doubled from a year earlier. That stock right now up 1. 5 but jmsmucker down 4. 7 as investors may rotate out of the pantry pepper trade with the reopening underway. Check the dow. We are down 75 points. Millions of dollars in damage from nearly a week of nighttime vandalism and looting in new york city following mostly peaceful protests over the death of george floyd at the hands of police in minneapolis. The event is already labeled as a catastrophe, as losses are now expected to exceed 25 million. Thats new york. New york has faced tens of millions of dollars in destruction and as we look at all of the problems here, lets go to Kristina Partsinevelos on the streets of new york following protesters and talking to local businesses who are surveying the damage. Kristina . Reporter already reeling from the lockdown, Small Businesses that now have to deal with the damage caused by the protesters and looters, like you said, that could cost millions of dollars. I have been traveling around the city throughout the entire week and especially today, we have been speaking to a lot of small Business Owners including one woman who owns a wine and spirit shop in chelsea. She said that once the lockdown was enacted she already lost about 80 of her revenue. Since then shes been looted. They broke through her store, cracked the window, destroyed all the bottles of alcohol by the windowsill, stole liquor like hennessy to the tune of about 2,000. Thats not even including how much it will cost to repair the store. Listen. You can look around and see the people employed here. We are diverse, we are vibrant, we are a womanowned business and doing our best to survive. The looters have disgraced this whole movement by hitting the businesses that they are supposed to be encouraging. Reporter Law Enforcement as well as small Business Owners have both told me that often in these situations the police come but they are outnumbered by the looters so they cant do anything. At this point, retailers have had to board up, pay for personal security if they can afford it and hope for the best. Unfortunately, we didnt get the best last night. In brooklyn there was a stabbing of an nypd officer. He was stabbed in the neck. There was two other officers who were wounded. All three are expected to make a recovery and the suspect is in custody at the moment. But you can see this is chaos across the entire country. Here in new york, they are stepping up by providing relief and assistance to Small Businesses to the tune of 500,000, specifically for those in the bronx. Theres an additional 10,000 grant for those that need any help with security, locks, et cetera. Then also, a line for anybody in new york that helps file insurance claims. I know that that can be a big headache. But like you mentioned, Small Businesses are possibly, according to the manhattan institute, facing tens of millions of dollars of damage just in the city alone. That really not only hurts Small Businesses but takes away from the very core of the message of these protests which is partly to end police brutality. Back to you. Liz we can only hope most of it is over, all of it is over. Thank you very much. We see those plywood wraps around right behind you of many many a corner in new york city. Pretty stunning sight. Closing bell, we are ringing in 52 minutes right now. We just hit a new low. The dow is down 124 at the moment. Stayathomers still Online Shopping until they drop. Just look at ebay hitting a new record high after raising its Current Quarter revenue and profit forecast due to the lockdown buying boom. Shares of ebay up 5. 5 to 48. 96 a share. The nasdaq just 1. 5 away from its alltime high. One market maven says we are actually only at the very beginning of a 50year long tech revolution. The dramatic declaration has wall street chattering. But hes here to talk to you as he joins our floor show trader to make his case for buying highflying, high tech stocks and the specific names hes betting on to dominate what he says could be the next five decades. Thats longterm investing. Hes next on the claman countdown. Introducing new voltaren arthritis pain gel, the first and only full prescription strength nonsteroidal antiinflammatory gel available overthecounter. New voltaren is powerful arthritis pain relief in a gel. Voltaren. The joy of movement. 100 online car buying. Carvanas had a lot of firsts. New voltaren is powerful arthritis pain relief in a gel. Car vending machines. And now, putting you in control of your financing. At carvana, get personalized terms, browse for cars that fit your budget, then customize your down payment and monthly payment. 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Just days ago, teslas elon musk announced he was quote, going off twitter for awhile but that didnt stop him from responding to a tweet complaining that amazons kendane kindle publish armory fusarm refused to public a covid19 work. Musk tweeted time to break up amazon, monopolies are wrong. Oh, yeah. He threw down the gauntlet there. Then he added quote, this is insane, jeff bezos. I do believe both stocks are slightly down at the moment for amazon and of course, tesla. But you know, when two billionaires start to fight and attack, i say lets get Discovery Channel in and film the whole thing. While the stock market looks a little lethargic after four days of rallies, i want to specifically zero in on the nasdaq 100. Shares hit alltime intraday highs yesterday and while shares are kind of struggling for altitude in this final hour like the rest of the markets, quarter to date, the nasdaq 100 which is chock full of Technology Names is up more than 23 . So you would be smart to ask after such a great runup, where are we in the evolution of tech . Well, one voice on the street says forget evolution. Try a 50year tech revolution. One that he says is not beginning but about to begin. What will be the main driver and how could you get in before it takes off . Brad neuman, alger Senior Vice President and director of Market Strategy made that declaration. We said get him in to our floor show along with cme trader phil flynn. I was thinking a couple days ago about how the coronavirus has been sort of an open invitation to technology to just go for it, disrupt the way we do everything, but is this way bigger than that and more of a new age of connected intelligence that you see . Well, i think the pandemic accelerates a lot of the trends weve seen in place for some time. [ inaudible ] technological revolution every 50 years or so. The last one being the socalled age of telecommunications which started in the early 70s with the advent of the microprocessor and put the pc on the desk of workers and transformed how they work, and concluded with the smartphone which obviously gave individuals access to all Human Knowledge at the palm of their hand. That industry is more mature now and we think its evolving into this next revolution which we call the age of connective intelligence. Which essentially starts with a lot of connected devices, you can call it the internet of things, producing a lot of data thats going to be processed by super Hardware Computers and software in the cloud, gives us all access, cheap access to cheap computing power. And all that will yield Artificial Intelligence and valuable insights. So thats where we are really investing over the next several years. Liz so if im hearing you, it would stand to reason that you would go with semiconductors. You bring up moores law, gordon moore, one of the founders of intel, he always said the number of transistors on a chip would double every two years, yet the price would come down. Does that still make for a good recipe to put into chip stocks and are there names that you like . Its interesting you mention that. First off, yes, we do like semiconductors, particularly what we call the arms dealers. Theyre the companies that have scale advantages and technology advantages, that can supply all those companies who are looking to get into the space. Those are like the Applied Materials of the world, the Semiconductor Equipment companies. Its interesting you mention moores bylaws while youre right that exponential growth in semiconductors, Artificial Intelligence, the speed of those computer, how fast that training can happen for those computing programs, is actually doubling every three to five months. So arguably, Artificial Intelligence on a much faster track with very big implicati s implications. Liz yeah. You know what, when we look at qorvo and skyworks, its incredible. Aside from the big names. Phil flynn, give your sense of what you see ahead. If brad is saying we are looking at a revolution that will be five decades long, what other revolutions do you see . Not to put you on the spot or anything. Im ready to start a revolution. I dont know. Tell you what, brad is right. Im very excited about this. I think what brad is getting at, its going to change every aspect of our life as we go forward. Every product that we have today is probably going to be obsolete in a few years. Its going to be absolutely incredible. For example, if you look at businesses and marketing, you know, everything you own in your home is going to be controlled basically with your voice through the cloud. Even every currency transaction in the world, every trade on the floor of the exchange is probably going to be created in the same way and its going to get faster and faster and faster. We haeard a lot about block chain, with the cryptocurrency. The new Technology Like in the cloud can make that obsolete with these new technologies. You are going to be able to clear billions and billions of transactions in seconds, and thats our future. Thats why this is so exciting. Brad is right on with this one. Liz yeah. Brad, when this craziness is all over, we would love to have you in the studio to hear and to watch your prediction because its a pretty bold one thats gotten the attention of wall street. Brad neuman, phil flynn, thank you so much. Good to see you both. Weve got the closing bell ringing in about 43 minutes. If you are wondering whether the coronavirus is dying out here in the United States, the doctor who runs Brooklyn Hospitals intensive care unit says just wait, that scenes like this diein protest could speed up a second covid19 tidal wave. Dr. James gasparino on when it will hit and why people not even at the protest might be the ones most at risk. Hes next on the claman countdown. vo since our beginning, our business has been people. And their financial wellbeing. Its evident in good times, with decisions focused on the longterm. And crucial when circumstances become difficult. That continued emphasis on people our advisors, associates, clients and communities gives us purpose, strength and a way forward. Today. And always. And let me tell you something, rodeo. I wouldnt be here if i thought reverse mortgages took advantage of any american senior, or worse, that it was some way to take your home. Its just a loan designed for older homeowners, and, its helped over a million americans. 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Learn how homeowners are strategically using a reverse Mortgage Loan to cover expenses, pay for healthcare, preserve your portfolio, and so much more. Look, reverse mortgages arent for everyone but i think ive been round long enough to know whats what. Im proud to be a part of aag, i trust em, i think you can too. Trust aag for the best reverse mortgage solutions. So you can. Retire better. Liz we want you to turn your attention to the screen here. On the left side is, of course, the george floyd Memorial Ceremony that is going on in minneapolis. On the right side, brooklyn, where yet another protest about the murder of george floyd, is happening at this very moment. We should mention that last night, things did get violent in brooklyn. Two Police Officers were shot, one was stabbed in the neck. All three are expected to survive. But these protests, while peaceful at the moment, tend to in some cases turn violent when the sun goes down. But on this very day where we are remembering george floyd, and trying to look ahead on all of this, we know that one thing is true, especially from the pictures of these protests. People are standing very close together. Just as new york citys mayor announced today that phase one of the reopening begins monday, have large gatherings of protesters like the one in brooklyn, like the ones that have involved thousands across the nation, have they already silently triggered the next wave of covid19 destruction . Our next guest is the doctor who says its coming. Dr. James gasparino is the director of Critical Care services and chair of medicine at Brooklyn Hospital center, the epicenter of covid19 emergencies in new york city. Doctor, thanks so much for joining us. You look at the video that we have been showing you and there are the protests and there are the socalled dieins where people are lying very close to each other, and not all of them appear to be social distancing, yet we havent heard about a spike in new cases yet, which leads some to say the crisis is over, because we would have seen it by now. To them, you say what . Well, first, thanks for having me. Again, certainly the potential for another surge does exist. I would say even preprotest, something to keep in mind is that hospitalizations went down significantly because people were very fearful of coming into the hospital. In terms of protests, certainly it creates an opportunity for widespread spread of the virus amongst the individuals who are protesting and most of these people tend to be, you know, in their 20s and 30s. They may not present initially with symptoms but certainly as we know, asymptomatic spread is quite common. So what you would expect is perhaps them to go home and infect their parents or grandparents, and probably a month from now or so, you might see a surge. It wouldnt be i wouldnt expect it to happen initially but certainly the potential is there. Liz so you say we could see this in july and this at a time where everybody was talking about the fall, that we would at least have a brief reprieve this summer, but in the fall we could expect to see it rear its ugly head again. What do you do . Is there anything that you can do in advance of that . Well, what has been recommended, i dont know if this will actually happen, if the people protesting would get tested. I doubt that will happen. But i think that everyone is certainly on guard for a second surge and that was something we were all thinking about even before the protesting started. So i think with the upcoming flu season and the fact that our biggest advantage over the virus really was social distancing, we were expecting as we loosened up everything and went into phase one and phase two of reopening, we are expecting some increase in cases. I think that would be natural. But the protesting kind of adds another wrinkle to it because now it can create opportunities for even more than what would be expected. Liz yeah. You know again, it may not be the actual protesters, per se, since they tend to be younger and healthier, maybe in their 20s and 30s. Its the people that they can go on to infect. So loik their parenike their pa grandparents, people with underlying conditions. That would come a little bit later. Liz 13,000 people have reportedly been arrested over the past eight days in some of these protests and some of them are complaining that they are penned up and cooped into these very small cells so that probably isnt helping the situation. But try and explain if possible as we look, if we can show video of the actual protests, how close people are. If they are outside, this is what i have heard some people say, oh, the particles and socalled aerosol of this covid virus which is highly contagious will just go off into the ether. Social distancing, you have said, is really the best treatment that we have been able to have while many pharmaceuticals are trying very hard and rushing to come up with a cure or treatment, but explain how it is passed if people are lying there in denver, colorado and breathing all over each other and not social distancing, how it is then passed. Well, its a good question. If you are within six feet of one another, and you dont have masks on and you have someone who is infected, clearly the likelihood of transmitting it to the next person that you are close to is quite high. You may recall early in the pandemic, people were coming up with numbers on the ease of tra transmissability and they used the term reproductive rate. That says if you had the infection and then were in contact with a group of people who were susceptible, without an intervention, how many would you infect. For the coronavirus it was somewhere between 2. 5 and 3. Now, is being outdoors going to lessen that a bit . Perhaps. But i still think if you are in close quarters and breathing, as you said, breathing all over each other, that risk is clearly there. And you know, again, it may not show up in this cohort, it may show up in the secondary transmission to people who they are either living with or again, people who are a bit more compromised. Liz of course. I want to end on this. Look at the deaths from yesterday by at least some of the states, and if we look at obviously new york and new jersey, they are pretty elevated. These are deaths yesterday, folks. Okay . So total in the u. S. , 107,235. New york, 51, new jersey, 109, but other states, florida had 36 deaths yesterday. Texas had 28. Ohio had 41. California, 69. I will just let you, you know, talk over these numbers and you can tell us what we really need to understand most about whats going on here still in the United States. I mean, so one thing to keep in mind, i go back to the 2017 20172018 flu season. That was the worst in ten years. There were 61,000 deaths roughly in the United States. We surpassed that in a very short period of time. You know, clearly new york and the brooklyn area of queens was the epicenter because we are all on top of each other. That had a lot to do with it. So again, it goes back to the environment that you are in and also, i would add Something Else thats not spoken about frequently and thats the social determineants of health. Thats really how people of lower socioeconomic backgrounds, poverty, those people, that seems to be a modifying factor for who gets this disease and the extent of that illness. Thats also another wrinkle that we are learning about this disease and the severity of this disease. And so you know, i think also, a lot of the other states that have lower rates of death, we are at the epicenter and i think for them, they have to just keep a close watch on the social distancing and monitor that very closely. Because that can change. Liz got you. Dr. James gasparino, we went a little long so im going to take the time that we took away from your brother charlie later on in the show. Just so you know. Doctor, thank you. Closing bell ringing in 28 minutes. Yeah, we see some weakness here but we are off the lows of the session, down just 50 points now. We had been down more than 160. S p lower by 16. The nasdaq down 81. Up next, viva las vegas. Some of the biggest names on the strip flinging their doors open overnight with classic vegas fanfare and weve got the guy whose blog casino analysts and investors scour before making their bets and buys. Vital vegas. Com, here about the out of demand control he says sin city resorts are already seeing. And breaking social distance capacity limits. Stay with us. [shouting] [clapping and shouting] [cymbals clanging] [knocking] room for seven. And much, much more. The firstever glb. Get 0 apr financing up to 36 months on most models, and 90day firstpayment deferral on any model. Liz we have this breaking news. U. S. Navy veteran Michael White has just landed in switzerland after being freed from iran. In two years in custody, exactly 683 days, he spent in an iranian prison. He was released, you know, part of a Prisoner Exchange but also due to fears of the coronavirus spreading in that iranian prison. Hes in switzerland at the moment. He descended the plane stairs. He did answer a few questions including one from fox newss rich edson, whom he told quote, its great to be free. Michael white, after two years of being locked in an iranian prison, now free and on swiss soil. U. S. Ambassador ed mcmullen there apparently to greet him and there was, we should say, here in america, another less crucial but still important reason to celebrate. Take a look. Five, four, three, two, one. [ cheers ] liz vegas putting its own roulette wheel spin on new york citys new years eve ball drop. Last night at midnight, the hotel and casino was among a group of resorts that flung their doors back open. Tourists have been anxiously awaiting the american gambling mecca to reopen after being shuttered for two and a half months due to the coronavirus. The owner even apparently set up a Ribbon Cutting we are showing you right now on the casino floor saying quote, i was there. June 4th reopening, last vegas. There it goes. I was there. Classic vegas, right . At 12 01 a. M. , people streamed into the casinos that were able to reopen but you all should know it will be a much different vegas that they will find when they arrive. Las vegas blogger and vital vegas. Com founder scott rogen joins us now. Your voice is one that wall street analysts and investors listen to because you have your ear to the ground when it comes to vegas. Thanks for joining us. You were there last night. First describe the scene. Yes, well, the video kind of shows the energy. I have been talking about pentup demand but there was kind of also just a pentup exuberance. People kind of, they were chomping at the bit to get to their favorite machines. For months i have been advocating opening up. I think people need a break from the stress and anxiety and casinos are pretty much a solution to that. It was wild. It was great to see a select number of casinos opened last night at 12 01, as you said. Today, the big casinos on the strip are opening up. Downtown is kind of a microcosm of las vegas so i took it as a really good sign that people were ready to get back and have fun. Obviously with care. I have kind of been using the phrase confidence and care because the numbers have looked pretty good, especially in nevada. Care along with that and the casinos have taken a lot of steps to make people feel more confident. Liz can you give us, our viewers, a sense of room occupancy numbers we are seeing . Because the casino stocks took off a day or two ago after your blog put out some numbers and they look to be pretty good for the coming weekend and immediately we saw casino stocks just jump, and so give us a sense of the latest numbers you have and what you are hearing about. Well, i always get nervous when the market does anything based on my silly tweets but i do speak to folks in the industry. It was looking very good for flamingo and Caesars Palace specifically. Flamingo, i had heard they were booked to 70 . As you know, the occupancy limit is 50 but that doesnt keep them from taking bookings. Actually they opened a third hotel to accommodate that percentage over. So the casinos are opening more quickly than expected. Because of that demand. I think there were a lot of big question marks. Some of the questions have been answered obviously from what happened last night but also these folks are really good at projecting demand, when they start to see signs that things are coming back and room occupancy is one of those things where they can see it very clearly and they decided they planned on doing two major resorts up front, and now have decided to open another. Im hearing that thats true across the board. Mgn mgm resorts, they opened two, went to three and all their projections, some of which were very pessimistic, some of these casinos theoretically would not have even opened until 2021, those are all being moved up. Liz okay. Could i just ask you, we showed a list of the ones that have not reopened. The mirage. Thats a pretty hot property. Why wouldnt the mirage open . Is that anything we can deduce from that about their bookings . There are a lot of so many variables, so many moving parts. Part of it has to do with sheer logistics. Each of the major Casino Companies decided to open one of their high end resorts, their highest end resort, and one that was a little more value oriented. The mirage is probably right in the middle. So it was probably seen as being redundant to New York New York which was the one that is opening today. So there are a million factors. Many of them related to demand but also just the logistics behind the scenes, back of house, how food is purchased, distributed, how staffing is done, what the Union Requirements are. Theres a lot of variations there. They are doing it very strategically, in a very reasonable way so that theyre not kind of overextending being too overly optimistic because once you put bodies in that building, you are talk about thousands of people bowing brought back to work and just the sheer administrative heft of that. They are having to make these decisions in a very deliberate way. Liz its great to have you. I would love to have you back. Scott roeben, vital vegas. Com. The hot inside vegas blog when it comes to the numbers. By the way, wynn and mgm, wynn is up 50 plus quarter to date. Mgm resorts up 82 quarter to date. We are coming right back. You doing okay . Yeah. This moving thing never gets any easier. Well, xfinity makes moving super easy. I can transfer my internet and tv service in about a minute. Wow, that is easy. Almost as easy as having those guys help you move. We are those guys. Thats you . The truck adds 10 pounds. In the arms. Okay. Transfer your Service Online in a few easy steps. Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. Liz for those of us working from home, its never been a better time to be a quote, slacker. Not the real lazy slacker thing that yeah, my kids are doing. The online messaging platform slack. Its getting a huge boost from coronavirus lockdown orders. The stock is down 4. 25 but regardless, the coronavirus related orders look very strong and the immediate need for Remote Office setups is propelling sales. Shares nearing alltime highs as the Microsoft Teams rival gets to work on the release of its First Quarter results after the bell. Stay tuned for slack and after the bell numbers. Expectations are for a loss of six Cents Per Share on revenue of 188 million. It is up 77 year to date. Big move for slack. Heres a question for you guys. Are we seeing a rebound in air travel sooner than we thought we would . Shares of Aerospace Giant boeing taking flight today. Look at this. In this final hour of trade, up 6. 2 on news that some airlines are now adding more u. S. Flights in july as demand starts grow at a much quicker pace. Shares of one Major Airline leading the rally today. That stock skyrocketing after its aggressive announcement on summer travel. To Cheryl Casone for the big name. Hey, cheryl. Cheryl yeah, American Airlines is leading the charge and the sector as we head into the closing bell after announcing that more than half of their domestic capacity is going to be in service again. Real quickly, i want to let you know some news has just been crossing on the wires on american. According to reuters, about a dozen officers are leaving the company, according to a memo obtained by reuters. The stock is up 40 right now. Heres the deal for july. They will be at 55 of last years flight levels but the big jump from june, where about 25 of flights were in the air compared to june of 2019. Here is how the skies are going to look in july with 4,000 daily domestic flights scheduled overall versus 2,000 for the month of may, precovid. 68 flights a day, folks. These are how the numbers have changed and why the Airline Industry has been so devastated. Long way to go, but weve got baby steps here. As for the industry, american is the clear winner next month to return. United making its best effort, 25 of flights at united going to be in the air from year ago levels. Here is what the stocks and the entire sector are doing right now. By the way, that stock again up 40. 3 right now. This would be the highest close for the stock since march 10th of this year. Largest percent increase on record, if we hold here. Stock up four consecutive days and again, larger than 35. 8 , largest one day percentage gain on record. There you can see as well, united, delta, southwest and jetblue all in the green. Also, we just learned that the u. S. Transportation Department Plans to issue a revised order in the next few days that would allow some chinese Passenger Airline flights into the United States. This move after china said it would ease coronavirus restriction tos to allow more foreign carriers to fly into chinas mainland. Lots going on there. I send it back to you and you go to break, tell your son happy birthday. Take him on a trip when you can go somewhere. Liz yeah. He was on a fourhour zoom group Party Last Night for his birthday. Dow jones industrials down 78. Coming up, mining for gold for your portfolio. Our countdown closer has the names he says will make it shine. Hey you, yeah you. I opened a sofi money account and it was the first time that i realized i could be earning interest back on my money. I just discovered sofi, and im an investor with a diversified portfolio. Who am i . i refinanced my Student Loans with sofi because of their low interest rates. Thanks sofi for helping us get our money right. 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They need to get their act together. Being hilled on third. Charlie gasparino. I love that, being held on third. You must be in journalism. What a way with words. Let me describe what is going on. Negotiations between the players and owners have broken down. The league represents the owners. Have broken down. Rob manfred the commissioner of major lease baseball the summarily rejected the players proposal, having more games and playoffs. He wants to go back to what the league initially proposed, essentially a shortened season. Graduated pay based on how many games are plied played and percentage of player salary are reflected. Players came back with another one, another offer i mentioned. They were rejected last night. Here is what we know now, what we understand now, baseball executives are pretty confident they will come back to the negotiating table within the next day. They basically say this. The players do have some leverage here. They can reject, the league can make them play by the way. They have to play, but they can reject the leagues covid safety plan which they have not approved yet. Use that as leverage to keep the negotiations going on for a while. That is where we understand. Players are not going to go back to the owners just yet we understand. Theyre waiting for the owners to come to them. Again they have some leverage here. They can say, they have to approve a extended playandahalf. That is more monies in the owners pockets. Let me make it clear, they have some leverage. Let me make a point here. Jefferson men felled at yale school of Management Holding meeting. Some people were a little miffed joe biden was there. Jeff is a great guy. You know him i know him. We have Great Respect for us all. We have Great Respect him. He basically says there is no politics. We invited joe biden. We invited plenty of republicans. I will do a full writeup. Jeff was trying to do the right thing, not trying toe play politics. I take him for at his word. Back to you, liz. Liz oh, yeah. He run as brilliant show there at ceo summits. He is very often the star, very smart guy. Thanks, charlie, very much. Look at the dow, making a run for the flat line, down 14 points. Lets check on gold. It would be starting to move down if gold is showing strength. Uhuh. Todays countdown closer says you know what . He has half a dozen reasons why gold must be in your portfolio now. He is sprout asset manager senior director ed coyne. Youre saying at least with one of these reasons gold stocks are massively undervalued. They are. Liz why do you say that . Because we were looking at some. Names. No theyre not. You give your point. We show ours. Sure. Just the valuations on a rellive basis to the s p and even to the price of physical gold. Gold is doing its job, up 12 yeartodate. The gold equities are just starting to goat some attention in the marketplace. Seniors, large caps are 1015 , juniors are coming along at four to 5 . From a relative valuation standpoint, as well as from an absolute standpoint, they look very attractive right now. In the past four years or so, large cap stocks, we all know the acronym fang. Bang, the large cap seniors are outperforming the tech stocks last four plus years. Valuations look attractive relative to physical. Valuations look attractive relative to s p. Time to think about gold equities. [closing bell rings] liz well put your six reasons own claim don. Com facebook page. Ed thank you. Dow turning positive up 10 points in this final second. Connell it was a excellent comeback for the Dow Jones Industrial average. Looks like it will settle higher today. The other two major averages pulling back from what had been a threemonth high. So a mixed close on wall street. Good to be with you. Im connell mcshane. Melissa im melissa francis. This is after the bell. Major averages off the lows we saw in late march. The dow panned nasdaq are up 40 over the last three months. We have fox Business Team coverage. Lauren simonetti is watching the markets. Blake burman is live at the white house. Lets kick it off with lauren. Lauren really choppy session, guys. While the dow did close