Transcripts For FBC The Claman Countdown 20240712 : vimarsan

FBC The Claman Countdown July 12, 2024

The heated rhetoric not helping the markets at all as we head into the final hour of trade. Neither did the weekly jobless claims number that came out this morning. It rose for the first time in 15 weeks. Then you have goldmans morning call that apple is bruised and should be tossed from your portfolio. Weve got red acheck it here. Dow down 341. S p down 38. The nasdaq down 227 points. This china situation, American Farmers dependent on selling their product to china, are bracing to be pawns once again. We will talk exclusively to a wisconsin soybean farmer about how his business was first affected since signing of the phase one trade deal and who knows whats going to happen to that phase. From massages to a whole different business of medical testing. How one chain flipped Business Plan to survi the covid crisis. Weve got the ceof express supspa group. They have the airport chains where you get massages. Hes here to tell us how hes pulling the 180 and offering covid tests. Its a fox business exclusive. Less than an hour to the closing bell, got a selloff, stay with me. Lets start the claman countdown. Liz we have this4 breaking ne. With just under four hours until the first pitch down in washington, d. C. Between the nationals and new york yankees, nationals star juan soto has just tested positive for covid19. We are told he will miss tonights Season Opener. Soto missed part of summer camp after being exposed to snomeone who had apparently tested positive but was cleared to return to camp a week ago today. Now he has tested positive. Take a look at this aerial shot. I believe we have dodgers stadium ahead of tonights Season Opener against the San Francisco giants. All right. The team had asked fans to take photographs of their gear and they made thousands of cardboard cutouts to fill the stands. That at dodgers stadium. That makes it look like there are people there. They are cardboard cutouts. We should tell you both games will be aired on espn, parent company, disney is down slightly right now. Down about 1. 33 . Electric vehicles are losing charge despite very good news. Lets get to tesla. Okay. Just about 24 hours after the automakers blowout earnings set it up for a potential inclusion finally into the s p 500, tesla which opened up today, you see the far left side of the chart here, lost all of its gains. Its down now 4 or 64 bucks to 1,527. We showed you this yesterday but i wanted to bring it all. All the checks that tesla to fi elusive but very exclusive club of the s p 500, they have now checked. Yesterday, that second one, we were waiting on it, but they have done it. Four consecutive quarters of gap earnings, no losses. Tesla is not the only electric Vehicle Company losing gains. Look atworkhorse. It, too, early today popped after announcing it had landed a purchase order for 20 of its all electric delivery vehicles from ohiobased Trucking Company etrucks. Workhorse following tesla now, slipping about 3 moment. Warren buffett upping his belief in bank of america. The oracle of omaha scooped up 34 million additional shares worth 816 million over just the last few days. This brings Berkshire Hathaways stake to 11. 4 in thegiant. This is the latest very large purchase. After Berkshire Hathaway paid 9. 7 billion for Dominion Energy earlier this month. Bank of america shares flat to slightly higher, up about. 6 at e from 2. 98 last week which was the first time in 50 years that the 30year fixed slipped below 3 . Home buyers are jumping on the band wagon either way. Mortgage applications rising 19 last week from the same week a year ago while refis, look at this, rising 122 . Year over year. People rushing to grab those very low prices. Take a look at the big beneficiary. Pulte group at this hour, shares are spiking and remember, starting this morning, they were the leading shares on the s p. Y7 weve got pulte group up by 4. 8 even as the stock market reverses and falls pretty dramatically. Dow jones industrials down 345 points. This final hour pullback in stocks was also sparked after a near uninterrupted bull run that began back in april, but is one of the very names that led this rally now the one name to avoid . Thats exactly what Goldman Sachs is warning clients at this hour, avoid not only the big tech winners including microsoft, amazon and alphabet, but goldmans analysts specifically point out apple. First up, i want to bring you this breaking news on the tech titan. Multiple u. S. States are now investigating apple for violating trade practices and deceiving consumers. This according to axios. So add that to Goldman Sachs sell apple call. Shares they say are up 37 over the last three months. Never a problem to take some profits. Goldmans biggest fear is that apple wont reveal an official forecast for next quarter. That could signal a delay in the new iphones release which is supposed to come out in the fall. If they dont release it, that could h revenues. To the floor show. Stephen guilfoyle and phil flynn. Guys, is the tech play including apple running out of gas and if so, whats the better play . Sarge, you first. Its okay if tech goes sideways to slightly lower for a little while. I wouldnt mind that myself even though im a little techheavy. As for the apple call, i think goldman is accurate here. I dont know if i would sell the shares if i was long them but i am willing to pay 345 for these shares. I am short july 31st, 345 puts right now. Thats where im willing to go out on that risk. We get to next week and these puts expire, i will roll them over and get short the august 21st 350 puts because now, the 50day simple moving average for that stock is up to 349. What im willing to pay, where i think support will come in, moves a little bit higher. Goldmans right, there will be pressures on margin, there will be pressures, but you can find a technical gain and expose yourself to risk at a later date and get paid to do it now. Liz i sort of feel like any real meaningful drop in apple, phil, looks like buying opportunity to many an investor out there but where do you stand on this and by the way, we have looked at technology. We spoke yesterday to Adena Friedman and she talked about why technology is looking so good. Many of the biggest of the big tech list on the nasdaq. She made an interesting argument about it. Listen to what the ceo of the nasdaq told us yesterday. Way back in the day you had the railroads, then you had Capital Intensive Companies really dominating the markets, then you had the oil Companies Really coming in and becoming dominant in the market, now you have technology that really has become the dominant driver of economic growth. I think for that reason, they are sitting at the top and they are as large as they are for good reason. Liz phil, you know, i just look at what im doing every day, buying technology, using technology. It is absolutely. So is everybody else in the world, especially in this coronavirus world. We see where this is going. Look at what the iphone has done. Its replaced phonograph records, books, magazines, newspapers, you name it. Shes right. From a shorter term viewpoint, i understand goldmans call but listen, goldman has been negative on apple for a long time. Listen, they are raising their stock price target again, which shows you that they have been behind the curve. They have been betting against apple for some time. Eventually they will be right. Apple is going to get a correction. Listen, if you dont like apple, theres other stuff in the sfas that looks really really good that may be off the beaten path a little bit. For example, if you want an alternative, you want to sell apple shares, buy Something Else that may have more growth, take a look at Motorola Solutions. The old spinoff of Motorola Mobility back in the day. This is a company that has seen impressive growth over the last their profitability has been very very strong. Their stock price took a hit on the coronavirus like everybody else, but if you look at that stock, i think that has a lot more upward potential. But listen, betting against apple, its like betting against tesla the last couple months. Its been a losing game. Liz yeah. Msi, Motorola Solutions up 2. 5 on a rough day for the nasdaq and other tech names here. Last trade was 144. 70. Look, you wouldnt be buying it at the high. If you bought apple a year ago, put only apple in your portfolio, you would be up 86 . You know, i get what goldman is saying, right, sarge . In the end, do you have sort of a side window tech trade there . Oh, sure. I got tons of them. We could go on for awhile. If you like the cloud, you have to like the cloud, businesses have to put money into it going forward. Amazon and microsoft. I trade back and forth on microsoft while always maintaining a long. Never sell amazon again. This is goi tundred years. Semiconductors, okay. You want exposure to amd. Liz okay. We are going to have problems with china. Lockheed martin. We have to defend ourselves.  liz all right. Gentlemen, thank you. We are watching the dow start to increase its losses here. Phil, sarge, great to have you guys. The closing bell ringing in 49 minutes. Folks, the dow is now down 414. Small caps down. 25 . Theyre not getting hammered nearly as much as the dow which is down 1. 5 . Yes, we are looking at a vix that is spiking right now about 8. 8 . Little bit of fear in the market. The sprint is on in the halls of congress. Another 1. 4 million americans just filed for Unemployment Benefits as the race to pass a new stimulus bill enters its final laps. What will it take to get a deal across the finish line and whats the white house saying right now about its list of demands . The claman countdown coming right back. The new house is amazing. So much character. Original crown molding, walk in closets. We do have a ratt problem. Round and round with love well find a way, just give it time. At least geico makes bundling our home and Car Insurance easy. It does help us save. Round and round with love well find a way, just give it time. Round and round what comes around, goes around. For bundling made easy, go to geico. Com find your getupandgo. Find pants that arent sweats. Find your friends. Find your sense of wander. Find the world is new, again. At chevy wed like to take you there. Now during the chevy open road sales event, get up to 15 of msrp cash back on select 2020 models. Thats over fiftyseven hundred dollars cash back on this equinox. Its time to find new roads, again. Simon pagenaud takes the lead at the indy 500 coming to the green flag, racing at daytona. Theyre off. In the kentucky derby. Rory mcllroy is a two time champion at east lake. Touchdown only mahomes. The big events are back and xfinity is your home for the return of live sports. Liz Senate Majority leader Mitch Mcconnell is set to introduce a trillion dollar covid stimulus package, as the nation wonders whether any bill might pass, a little recent history. September 29th, 2008, the day the troubled asset relief plan or t. A. R. P. Which was meant to bolster a failing economy after the financial crisis shock, iled to pass in congress, stocks reacted violently. The dow saw a record point drop and the s p cratered, suffering its worst day in 21 years. To blake burman at the white house where i guess at this hour, they are working to avoid a similar fate with part four of the covid stimulus plan. You think there will be a delay . Reporter yeah, we are at a delay at this point because we were expecting this bill from Senate Republicans up on the hill, Mitch Mcconnell, to be put forth by this point. It hasnt been put forth at this point. It goes to show you how republicans are still trying to finalize their plan to put forward to even resume negotiations with democrats, which would be the next hurdle. Everyone wants to get this done. The question is how do you go about doing it. For example, now we know the payroll tax cut which President Trump and this white house, members of his administration have been talking about for months, saying they want, that is not going to be a part of this plan. The president is blaming democrats because of this. For example, he says the following in a tweets earlier today, writing quote, the democrats have stated strongly that they wont approve a payroll tax cut. Too bad. It would be great for workers. The republicans therefore didnt want to ask for it. However, that is only half the story, because theres roughly ten rublican senators against a payroll tax cut as well, while some republicans also have concerns at potentially passing another as you mentioned trillion dollar package. Listen. I have made up my mindl tax. Im perfectly willing to consider it. Its like every other measure in this bill. There are advantages and disadvantages. We knew we would be spending about 1 trillion and that will still be difficult to get a majority of republican senators on board, but i think its feasible. It will be a tradeoff. Reporter still be difficult, will be a tradeoff. Democrats are asking republicans where is your bill, because remember, the white house and Republican Leadership have been saying for more than a month now they wanted to wait until this moment and here we and they are still trying to finalize it. Here was nancy pelosi from earlier today. They said they needed a pause. Well, they still not prepar prepared. You use a pause to prepare. What wem have seen so far fall very short of the challenge that we face. Reporter republican senators had a policy lunch up on capitol hill earlier today. Some came out of that a bill mi have to wait until tomorrow. Well see. Potentially even if then. Liz . Liz well, lets hope history doesnt repeat itself. I was on the floor of the New York Stock Exchange in 2008 when the first t. A. R. P. Vote failed and it was ugly. Blake, thank you. Thank you very much. Blake burman. All right. Weve got 48 minutes before the closing bell rings. Not a pretty day on wall street right now. Dow is down 36 lows of a loss of 435. Flight bookings, stalling out. But this is interesting. To see how two Airline Companies based in the u. S. Are behavi. American airlines up 4. 33 but forecasting 60 less capacity in the third quarter, which is worse than prior estimates. This as southwest, which is down. 75 right now, warned that july bookings have been sliding due to surging covid19 cases across the u. S. Pretty much two similar versions but one stock moving higher, the other down. What would you do if your entire busst terminal foot traffic . In a countdown exclusive, what the largest airport spa chain in the world is doing to keep its business flying high and why it might make you feel a little bit safer about walking through the airport. That and more coming up. Stay with us. Introducing stocks by the slice from fidelity. Now you can trade stocks and etfs for any amount you choose instead of buying by the share. All with no commissions. Stocks by the slice from fidelity. Get your slice today. Stocks by the slice from fidelity. About medicare and 65, ysupplemental insurance. Medicare is great, but it doesnt cover everything only about 80 of your part b medicare costs, which means you may have to pay for the rest. Atin to help pay for some of what medicare doesnt. Learn how an aarp Medicare Supplement insurance plan, insured by United Healthcare Insurance Company might be the right choice for you. A free decision guide is a great place to start. Call today to request yours. So what makes an aarp Medicare Supplement plan unique . Well, these are the only Medicare Supplement plans endorsed by aarp and thats because they meet aarps high standards of quality and service. Youre also getting the great features that any Medicare Supplement plan provides. For example, with any Medicare Supplement plan you may choose any doctor or hospital that accepts medicare patients. You can even visit a specialist. With this type of plan, there are no networks or referrals needed. Also, a Medicare Supplement plan goes with you when you travel anywhere in the u. S. A free decision guide will provide a breakdown of aarp Medicare Supplement plans, and help you determine the plan that works best for your needs and budget. Call today to request yours. Lets recap. There are 3 key things you should keep in mind. One if youre turning 65, you may be eligible for medicare but it only covers about 80 of your Medicare Part b costs. A Medicare Supplement plan may help pay for some of the rest. Two this type of plan allows you to keep your doctor as long as he or she accepts medicare patients. And three these are the only Medicare Supplement plans endorsed by aarp. Learn more about why you should choose an aarp Medicare Supplement plan. Call today for a free guide. Liz from xpresspas to express tests. The company that normally offers massages and manicures at airports now changing its business model. Xpre xpresspa has opened its First Express test center where its administering covid19 tests. Its first inairport location now up and running at jfk here in new york. Youre looking at video of this right now. It has the capacity, ready for this, to do 500 tests a day. Will it expand to its 50plus u. S. Locations as more states see record virus cases . Here in a fox business exclusiv we welcome Xpresspa Group ceo doug sassman. I cant ima

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