Transcripts For FBC The Claman Countdown 20240712

The candidates key messages. Stocks finding strong footing after a recordshattering Third Quarter u. S. Gdp report and word that Speaker Nancy Pelosi and treasury secretary Steven Mnuchin still have the stimulus lines of communication open. But the major indices are still far from recouping this weeks losses so far. The dow at the moment up 270. That is a 600 point swing from peak to trough and back up again. The nasdaq up 234. Could all of this change either up or down in an hour, when americas tech titans report earnings . The three tech ceos who faced congress yesterday face shareholders today. Our tech panel with what to watch ahead for facebook, twitter, google, apple and amazons Quarterly Reports. As the coronavirus cases spike, we have the chipotle ceo on how his restaurant chain is preparing for the second wave. Plus, when are quesadillas coming back on the takeout menu . Can we get to that . Hes coming up in a fox business exclusive. Weve got this. Investors are waiting with baited bebait ed breath for an array of earnings reports. In a category of its own, World Wrestling entertainment. Everybody, listen, shake shack, we like this here. All of these names reporting after todays closing bell. From the first read that we got today on Third Quarter gdp, perhaps we will get some good news from those names. The u. S. Economy grew at a record pace, this is the advanced gdp number for Third Quarter, 33. 1 . Now, while its still down 2. 9 year over year, just five days ahead of the president ial election, how will voters interpret that number . Both President Trump and former Vice President joe biden are campaigning in the key battleground state of florida right now, with President Trump in tampa and biden in broward county. The race in florida now too close to call, folks. Weve got a new kwquinnipiac po released an hour ago which shows joe biden holding a threepoint lead over President Trump, just outside of the 2. 7 margin of error. To hillary vaughn, live in the Sunshine State, where weve got her at the biden rally. We were at the trump rally yesterday. Give us a sense of whats going on on the ground and what both these candidates are saying. Reporter liz, you hear some honking behind me, its because bidens drivein rally here just wrapped and now people are leaving in their cars. But really, the Sunshine State is a mustwin swing state and both candidates are showing it today. Both are in florida but both will be showing up in tampa. Thats where biden is headed next and where President Trump is right now rallying voters but the economy is on the top of voters minds here. President trump clearly thinks thats a winning issue for him but so does democratic nominee joe biden but on the heels of record gdp growth that you just talked about, President Trump is making it clear he thinks thats going to give him muchneeded momentum here in florida headed into election day. Weekly jobless claims, this is boring, but its really good, just hit a sevenmonth low. In other words, from the beginning of the pandemic, seven months ago. Were going to have next year the best year weve ever had economically. And its true. Biden is holding back the stock market because you know, its an election, crazy things can happen. Maybe 100 of the people in florida decide not to vote. Reporter floridas economy has been on the rebound from pandemic lows and outpacing that nationwide level. Floridas unemployment claims last week are trending down. They had one of the largest decreases in those claims last week for people that filed for unemployment, but biden says the numbers youre seeing from the gdp and the stock market dont paint the full picture. If florida goes blue, its over. Its over. Press has heard me say this a long time. Wall street ceos didnt build this country. People standing out here with their automobiles, thats who built this country. The middle class built this country. Reporter liz, both candidates dont just have vastly different takes on what a good economy looks like but also what a Good Campaign event looks like and will benefit them here. Biden had a drivein rally that just finished and President Trump packed out the stadium where the Tampa Bay Buccaneers play. Liz . Liz hillary, thank you. We watch all of these developments, i need to pivot to a rather stunning turnaround at this hour of three megatech names that were actually swooning at this time yesterday. As investors were fretting about longlasting damage to twitter, google and facebook after their ceos faced quite a seething and often irate Senate Commerce committee, wednesdays losses with facebook and google really hammering the nasdaq, slipping 5. 5 while twitter dropped 5. 3 , are not suffering a repeat at all. Take a look at all three stocks and how they are trading right this second. They are all blanking out yesterdays losses, particularly twitter, which is now up 8. 4 . The entire sector is getting a lift, though, in part from virtual Bulletin Board site pinterest. Look at this gain. Okay, how about 27 jump in the social media darling which predicts a 60 sales jump for the current quarter. Should the credit for the bump in the nasdaq stocks go to pinterest as the rising tide appears to be lifting all boats . To our floor show traders. Andrew smith and chris robinson. What do you think . Is it really the pinterest effect which i find hard to believe although it is a social media name which would certainly help facebook and twitter, but where else do you expect to see and what sectors this kind of behavior and maybe some of the names after the bell . Yeah. So really, yesterday was that bloodbath carnage we saw in megacap names, pinterests report stellar, spectacular, lot of interest today. That is leading the tech names higher. But i think a lot of it has to do with the relief rally that came off of yesterdays lows. Its important to put in context, Technology Actually has been the second worst performing sector since the market reached an alltime high on september 2nd. So with the valuations where they are, these stocks are priced to perfection but still offer that growth catalyst. They offer that stayathome behavior. We know their earnings grow quite a bit. We know that they offer that stability and only some of the few companies that offer Forward Guidance where we still have companies that dont offer a lot of clarity on the economic outlook. Liz yeah. I like that assessment. But chris robinson, is there any name after the bell that could have that same halo effect for a lot of the other names that might be coming out that are in the same sector . We have Activision Blizzard and of course, some other gaming names. So im wondering if we look at that, and we say okay, so maybe it just appears that we can see some nice moves, thanks to how other companies do. Yeah. I think so. I think you see an entire sector generally, if you get one good company, it will pull up all the rest. People will blanket buy a group of stocks. I think that the most impressive thing is really the recovery that we had, we started off this morning, it was looking pretty bad if you were looking at the dow index. We were down sharply lower, down around 26,200 and we recovered. So good recovery. I think thats the danger. Doesnt matter if we get good earnings or bad earnings. If somebody makes an emotional decision based on earnings, it can be pretty costly a week or two down the road once it really gets baked into the market. So i would be careful about jumping too short or too long because it can be a dangerous decision, given the volatility that weve had. We havent had volatility like this in awhile. That would be my one caveat. Liz are you seeing any rotation out of one area and into another . Yeah. So utilities led the rally and gains for october but what i have noted is that in september, we started seeing the economic beneficiaries really outperform, so what happens is given techs weighting in the Overall Index, any hiccup in those names causes the Overall Index obviously to move lower. We are seeing a secret bull market really come out in regional banks, we have seen transports do very well, fed ex has done phenomenally well. Housing has done well. So that rotation really is manifesting in there. Again, it goes back to look, tech is a great darling. Its been a massive beneficiary to portfolios. But we saw microsoft. Microsoft missed on guidance expectations at very high expectation level, i might add, and it was sold off. We saw s. A. P. , that was the first shot across the bow right there. Liz that was ugly. Yeah. Its balancing between those two of hey, those are good growth names but as the economic recovery does unfold, per gdp this morning, we will see those economic beneficiaries take the baton. Liz yeah. Chris, im actually looking because andrew just talked about fed ex but im looking at ups. When fed ex reported great numbers, ups did not respond in kind. At least the stock. Then ups came out with numbers. Look at it today, its up 4. 5 . Fed ex is also moving higher. We are starting to see that behavior, i can call it a halo effect, but what else should investors be watching after the bell today as far as behavior . I do agree with your point that you dont want to make rash decisions on one single earnings report. Right. I would say this. If youve got an idea on one stock, make sure you know what you are going to do no matter if it spikes or drops. Thats the biggest thing right there. I think whenever you have an earnings report, if its a fix point in time where you can get some good moves, the question is which move, you know, how do you position yourself and again, theres lots of opportunity to do that with options strategies and things like that, but you know, at the end of the day, i would say this. I think the bigger driver is going to be the overall market, where are we going to be in four or five days from now. We could get great earnings in all this stuff. If we get a hiccup in the next 10, 12 days, the markets not going to care, you know. We could have a pullback anyhow. I would say this. Know what your risk is going into whatever bed it is youre making and you will probably be better off long term. Liz chris, andrew, great to see you guys. Thank you very much. Check the dow, up 261 points right now. Weve got a fox business alert. We should be calling it clash of the luxury titans. Number one, we have ralph lauren slumping after rl warned the new wave of covid19 cases could hurt its Sales Recovery in both north america and europe. So that stock is down at the moment by 3. 33 . You look at tapestry, looks like the clash because the news, it certainly doesnt look from the surface like its taking the sheen off, but were off session highs. The stock was up about 23 and change. Right now at 22. 92. Still a gain of 7. 5 . The owner of coach and kate spade brands surging as much as 10 early in the session after it beat earnings estimates and forecast growth for the year. So you can blame ralph lauren for problems with tapestry although i dont see it as a problem to see a gain of 7. 5 . Flip it to ebay shares. They are sitting at the bottom of the s p 500 at this hour despite beating wall street expe expectations. One analyst said the covid benefit benefit, you know, people stuck at home buying things may be starting to wear off. Keep in mind the pending sale of ebays classified ad business is sort of messing with wall streets comps right now. Ebay down 5. 8 . Blue apron, not in the red. Sorry, wait. Singing the blues, in the red, not in the green, bigtime after announcing it is not pursuing a sale or merger. Instead, the meal kit provider opted for a Capital Raise and that is slamming the stock. Its down 27 right now. By the way, it didnt help that blue aprons revenue forecast also missed. While blue apron may be losing its flavor, chipotle keeping it spicy for its millions of faithful. The ceo on the new menu items that could soon be hitting chipotle lanes near you. Its a fox business exclusive. With the closing bell ringing in about 47 minutes, amazon earnings less than an hour from now, the claman countdown is coming right back. Stay with us. I knew about the tremors. But when i started seeing things, i didnt know what was happening. So i kept it in. He started believing things that werent true. I knew something was wrong. But i didnt say a word. During the course of their disease around 50 of people with parkinsons may experience hallucinations or delusions. But now, doctors are prescribing nuplazid. The only fda approved medicine. Proven to significantly reduce hallucinations and delusions related to parkinsons. Dont take nuplazid if you are allergic to its ingredients. Nuplazid can increase the risk of death in elderly people with dementiarelated psychosis and is not for treating symptoms unrelated to parkinsons disease. Nuplazid can cause changes in heart rhythm and should not be taken if you have certain abnormal heart rhythms or take other drugs that are known to cause changes in heart rhythm. Tell your doctor about any changes in medicines youre taking. The most common side effects are swelling of the arms and legs and confusion. We spoke up and it made all the difference. Ask your parkinsons specialist about nuplazid. Ask new projects meanspecialist you need to hire. Gers. I need indeed. Indeed you do. The moment you sponsor a job on indeed you get a short list of quality candidates from our resume database. Claim your seventy five dollar credit, when you post your first job at indeed. Com home. Liz we have a chilling food for thought concept here. 26 u. S. States are now at or near record numbers for new Coronavirus Infections as the u. S. Reports a record of more than half a million new cases over just the past week. Cities especially in americas heartland now implementing stricter new measures to stem this wildfire spread. Chicago is going to stop Indoor Dining and bar Service Beginning tomorrow. As the pandemic wreaks havoc on the restaurant industry, Chipotle Mexican Grill has managed to work out ways for their folks to get their fix via delivery, what they are calling chipotlanes, and a thriving Third Quarter Digital Business where sales grew 202 year over year. With new covid cases and hospitalizations, lets bring in the chipotle ceo and chairman, brian niccol, joining us in a fox business exclusive. Thank you for being here. We are seeing a major resurgence of the pandemic over just the past six days. As the ceo of a fast casual chain, im guessing in all 50 states, i assume you get quite a bit of realtime data. What can you glean from the past six or seven days in terms of maybe any shift that you are seeing in terms of sales . Yeah. Well, obviously you just mentioned it. As dining rooms close, we see a shift more towards our offpremise business which is all driven by our digital app or the website. What we have definitely seen is as the weathers gotten colder, the cases have spiked and places are taking action around not allowing indining experiences. Its going to become more and more important to be able to provide a great offpremise or digital experience. Hopefully the consumer psychology hangs in there where they know by doing the right things in their community, we will get past this spike and you know, thats what we want to do with our employees to ensure they can have the confidence to feel safe about working, then we want to have all our customers feel confident about the experience theyre having, both safety as well as getting the access that they want. Liz but as far as the past couple of days, are you able to see any sort of meaningful or even slight shift in behavior, because we have anecdotal evidence that people are getting very concerned and now they are really curbing their activities outside. So i would imagine that chipotle which has done very well in pivoting very quickly early on, might see some type of shift or change there. Yeah. Obviously what we see always is as the weather gets colder and then you layer on top the covid issues that we are dealing with, we are definitely seeing a decrease in peoples mobility and then when you further some of the dining room focus restrictions that have just been issued, obviously that layers in the lack of mobility of consumers. The psychology, you know, we track this realtime, continues to be one of just a lot of uncertainty, frankly. I think you have a group of people that are optimistic that we will get past it. Theres a group of people that are truly really concerned that this is here for a much longer time than i want to believe, but in general, i think what people are longing for is they want to know if they do the right things and they have a safe experience and those right things are wearing a mask, practicing social distance, not being in large crowds, so we will do everything we can to run our restaurant that way, and provide people experiences where they are, which i think is going to be for the next couple months, more offpremise than in our restaurants. Liz you have made Real Progress during unprecedented times. As i understand it, you recovered 50 to 55 of instore sales. Are you feeling pressured or do you feel as the ceo that you are going to have to start closing some of the instore dining that you very gingerly reopened over the past several months . Yeah, look, i think if things continue the way theyre going, i think thats whats going to happen. I think you are going to see more indining being curtailed versus we were on kind of a nice progression of bringing it back across the country. But you are already seeing it, right. You mentioned this earlier. We are seeing it in europe and now we are seeing it in the states in some select cities, but i anticipate that the dining room business is going to continue to be under pressure, and there is probably going to be more pressure both from the standpoint of regulation, you know, and i think the psychology of having confidence to be in restaurant dining experience. I would love for it to continue to progress the way it was just a couple weeks ago, but i think unfortunately, the psychology of the consumer and the data thats coming out is going to result in us having to weight more heavily on our digital and offpremises. Liz we are showing your drivethrough, people order by phone, they do pickup, theres delivery. The one thing we hear about from a lot of investors and of course, customers, is that they want to know when the quesadilla is coming back. Not my 16yearold son. He doesnt want to know that. No, he really wants to know that, because you had to limit your menu. Are you going to bring back, i know you are doing some test markets, but are you bringing back the quesadilla and i know you are testing out cauliflower rice as well. Tell me the status of both those issues. First on the chipotlane and quesadilla, we are really excited about our results as it relates to the chipotlane. It is really i think the digital drivethrough of the future because you order ahead, you swing by, just say your name and on you go. Its superfast, no compromise on customization or culinary and we know americans, if they can, they sometimes prefer not to have to get out of their car. So we are seeing this play out really well. I think the environment we are operating in reinforces that thats a great experience. Your question about quesadilla. The quesadilla actually is kind of like the perfect product for the meshing of our digital experience and our chipotle experience because its got all the great culinary of chipotle, now we have added the ability to get that great grill experience that people love out of a quesadilla, then it travels really well, whether its delivered liz where is it . We need it back. Yeah. Yeah. So it stays really warm, so on and so forth. What we have been working towards is how do we do this quesadilla without impacting our front line experience. Now that weve got a multibillion dollar Digital Business, it makes a lot of sense to be able to use the scale of our Digital Business to give kids like your 16yearold or whoever else is a quesadilla fan, its the number one requested item we get in the app. So we know theres consumer demand for it. We know we have the scale for it. We know we can operate in a Digital Kitchen experience. So thats what we are testing. We are optimistic with what we are seeing in the test. Hopefully your son will be able to get one soon. Liz yeah. And the cauliflower rice. Brian, we have to run. We have a lot of breaking news. We appreciate you coming on. Chipotle Mexican Group has had a very strong year to date performance in the stock. Thanks for joining us. Weve got the dow up 253. Well be right back. It was 1961 when 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 ancestry, with documents, with photographs, i get to define myself through the scores of people who lead to me. Bring your Family History to life like never before. Get started for free at ancestry. Com liz breaking news. Change of plans. When President Trump finishes his speech at Raymond James stadium in tampa, florida, he will not now head as planned to fayetteville, North Carolina. The Trump Campaign has Just Announced that it is postponing the fayetteville rally due to Tropical Storm zeta hitting the tarheel state. The latest poll for North Carolina shows a tie between President Trump and joe biden in North Carolina. All right. More breaking news. Look at the intraday picture of netflix right now. It is spiking because its going to raise prices. So what a difference several years makes. Way back when, when netflix announced it was going to raise prices, the stock used to drop. Well, now the streaming giant just announcing, look at the far right part of the screen, that it is updating prices here in the u. S. The monthly cost of its most popular plan will increase to 13. 99, up from 12. 99, while its premium tier plan is increasing from 15. 99 per month to 17. 99. The price changes going into effect today. What . Today . Basic plan will remain at 9 a month. People are really dependent during these lockdowns and the tightened restrictions during coronavirus so clearly netflix knows it has a captive audience. It is definitely going for that at the moment. And the stock is jumping 5 . It was down, it has completely reversed, now at 511. 21. Meantime, speaking of lockdowns, we are t minus four hours from a lockdown in france. Beginning in france, covid cases have continued to spike stateside and abroad. Germany and france are the latest European Countries to announce National Lockdowns in hopes of slowing the icu hospitalization rates and the spread of the virus. Yesterday, italy saw a new record of daily infections. They reported 24,991 new cases of covid19 within just 24 hours. This comes after renewed restrictions on restaurants, bars and sports unleashed protests and riots across northern italy over the weekend. Remember, it was northern italy where we saw the first breakout months ago of the coronavirus on the european continent. Amy kellogg is right there in northern italy, in milan. Shes live with the latest on the european lockdowns. We are just a few hours away from the france lockdown. Tell us what you are hearing and seeing on the ground in italy and france. Reporter well, you know people were rioting this week because they are worried about the Economic Impact of all of this and italy is not technically under a lockdown now and its trying very hard to avoid having one, but in order to do that, it has put all of these restrictive measures in place, making restaurants close at 6 00 essentially and gyms and so there is concern that just due to this, 50,000 businesses may fold and that would mean 300,000 jobs would be hemorrhaged. That is what is making people here so very scared. The Vice President said that it really did its best, the government did its best over the summer to try to shore up the Health Care System in france, adding beds and equipment, but not even the most pessimistic forecasts expected that there would be such a surge of covid infections and so he has said that a lockdown is absolutely necessary and yes, that is starting in just a few hours time. President macron said he is going to keep schools open because keeping children at home just aggravates inequality as poor children dont have the support at home to effectively remote learn. That is one of the things that is different this time around with these socalled Circuit Breaker lockdowns which are expected to last for about a month. Germany is doing the same, keeping schools open. They are calling theirs lockdown light but they are, in fact, shutting all restaurants, cultural centers, gyms and many other businesses. The European Union over the summer predicted that eu or the euro countries, their economies would contract by 8. 7 in 2020 but that was before the anticipation of yet another lockdown. So we dont really know what the bigger impact will be on the economy and certainly governments are scrambling to come up with aid packages for people who will be out of work during this period. But it always feels, people say like its too little, too late. That is why you are seeing such anxiety and frankly, i think people took it pretty well the first time around, particularly here in italy which is sort of proud of its rebellious nature. People really did wear masks and play by the rules and bounced back well, but this time, theres a lot of desperation and people are not quite willing to go into lockdown again. Liz . Liz amy, thank you very much. Amy kellogg live in milan, italy. The ateam making the grade ahead of earnings. We are talking about apple, amazon and alphabet. All seeing some major upside action ahead of their Quarterly Reports that come right after the bell, which is 25 minutes away, but could another part of the tech sector be ready to answer the call of duty for the markets . Our allstar tech panel games it out next, with the closing bell, yeah, as we said, less than half an hour away. Dow jones industrials up 247. You can see the tech titans on deck. Apple, alphabet up 4 , amazon moving higher as well. Look at the nasdaq. Up two full percentage points. Well be right back. Now every bath fitter bathbath fis installed quickly, safely, and beautifully, with a lifetime warranty. Go from old to new. From worn to wow. The beautiful bath youve always wanted, done right, installed by one expert technician, all in one day. Weve been creating moments like these for 35 years, and were here to help you get started. Book your free virtual or inhome Design Consultation today. Some things are good to know. Like where to find the cheapest gas in town and which supermarket gives you the most bang for your buck. Something else thats good to know . If you have medicare and medicaid, you may be able to get more Healthcare Benefits through a humana Medicare Advantage plan. Call the number on your screen now and speak to a licensed humana sales agent to see if you qualify. Learn about plans that could give you more Healthcare Benefits than you have today. Depending on the plan you choose, you could have your doctor, hospital and Prescription Drug coverage in one convenient plan from humana, a company with nearly 60 years of experience in the healthcare industry. Youll have lots of doctors and specialists to choose from. And, if you have medicare and medicaid, a humana plan may give you other important benefits. Depending on where you live, they could include dental, vision and hearing coverage. You may also get rides to planapproved locations; home delivered meals after an inpatient hospital stay; a monthly allowance for purchasing healthy food and beverages, plus an allowance for health and wellness items. Everything from overthecounter medications and vitamins, to firstaid items and personal care products. Best of all, if you have medicare and medicaid, you may qualify for multiple opportunities throughout the year to enroll. So if you want more from medicare, call the number on your screen now to speak with a licensed humana sales agent. Learn about humana plans that could give you more Healthcare Benefits; including coverage for Prescription Drugs, dental care, eye exams and glasses, hearing aids and more. A licensed humana sales agent will walk you through your options, answer any questions you have and, if youre eligible, help you enroll over the phone. Call today and well also send this free guide. Humana, a more human way to healthcare. Liz apple investors will be hanging on every word ceo tim cook utters after the bell this afternoon. We do want to flag you on this. Iphone 12 sales, this is the new iphone, will not be included in apples Quarterly Report that tim cook gives after the bell, but investors will be scrutinizing everything to see if he drops any hints on how his latest creation might be accepted or selling. Well see. Big tech taking center stage. Apple joined by facebook, google, twitter, Activision Blizzard, all of them reporting in just about 21 minutes. Here to break it down, colin gillis and russell hawley. Colin, i will start with you. Any bombshells that you expect from apple today . So the september Quarterly Results are going to be relatively mundane. Revenue will be flat. Everyone is looking forward to the december quarter and what type of color tim cook will give us. Two things to remember about this. One, there may be a little bit of volatility because apple has not been giving Forward Guidance and two, we dont know what the impact of the new phone is going to be on gross margin. So in terms of apple, i would be staying away from here. Liz russell, if you were on the call, what would you be asking tim cook afterward . I mean, the biggest thing there is how physical Retail Stores have impacted sales. We know that the stores havent been open, especially in the u. S. , and the ones that have been open in the u. S. Have been open for a lot less. They have been serving far fewer customers and thats got to impact apples bottom line somehow. I would want to know more details on that. Liz yeah. And what about the phones being sold . People were anticipating this brand new cycle of phones, so im seeing that the expectation is for about 27. 9 billion in iphone sales. Is that sort of around what youve got . Yeah. And you know, the idea is that in the september quarter, we are going to see that the iphone se was a nice Little Bridge and then again, the expectation is, you know, we will get this gangbuster holiday sales for the december quarter. Theres talk about a massive supercycle in terms of available customers who can upgrade. We need to see if 5g is really going to be all that, if thats going to be the mechanism to get people to upgrade. So again, i think the stock is priced, you know, its priced relatively perfectly right now. I would be careful heading into the holiday quarter. Liz it is, though, almost interesting if there is a miss on iphone sales, that may be positive for the sentiment because people will think wait a minute, its all going to be backloaded because people were waiting and they may snap up the iphone 12 at this higher price. We shall see. Russell, yesterday, facebook, twitter and google were sitting there in front of the Senate Commerce Committee Via zoom and boy, some of them, from both sides of the aisle, they were either hammering these companies for being too easy on russian bots or they were very unhappy with these guys being too hard on conservative voices. Section 230, this is what was at work here, this is the part of the decency act that shields Internet Companies from user generated content. Looking at the stock behavior today, all three of them are up. Tell me what you think is a longer term outlook for these names. Yeah. You know, honestly, i dont think section 230 is going to be adjusted any time soon and i think if it does, its going to have such farreaching implications that its going to impact things that are going to benefit google in the long run anyway because people will be searching for things that they cant find in the same sources they were able to find them before. User generated content is going to change dramatically if section 230 goes away or is amended in the way thats been suggested. Whether or not theres a bias thats being leaned there can go in one direction or another but i think sales are up because theres an understanding that things arent really going to change any time soon for either of these companies. Liz probably. Congress cant get it together on muchneeded stimulus, let alone this. To which name will you be paying the closest attention this afternoon of all of the names out there . You know, amazon. Because we are going to get a december quarter thats going to include both prime day and the holidays and so we are expecting a blockbuster outlook from that company. And you know, you could easily see this stock move up another 10 by the time the year ends. Facebook is also interesting. In terms of google, we say stay away because of the doj. That lawsuit, the one thing that can always, we say can always derail alphabet is government. And you know, we saw what happened to microsoft when the government went after them with the sherman act. This is probably not the time for google to be printing blowout stellar earnings. We would exercise caution on that name. Liz russell, really quickly, this is going to be a big Holiday Season for tech and toys, especially, if people are staying home. I know you are a big video gamer. If you could only purchase one item, the iphone 12, xbox, play station, the switch, what would you buy . You can get an iphone 12 for, you know, the same price you could get a new xbox and new play station together but that being said, i would still go with the new iphone. Liz please give the gnome living in that house behind your right shoulder our very best. What a background there. Crazy. Colin, great to have you, too. Thank you both so much for joining us. Pandemic winner sc seeing profittaking at this hour despite doubling its sales driven by face mask demand. Shares still up 193 since january 1st. Down about 4. 6 right now but in just a few moments, online retails most massive player, yes, colin mentioned this, amazon about to unleash its results and the holiday forecast. Your shoppers guide to all things amazon next. From juilliard trained pianist to head of a 37 billion business, at t business ceo on how she climbed the corporate ladder and shattered glass ceilin ceilings, to become the first woman of color ceo in at t history. Youve got to hear her story. It is so inspirational. Its my latest episode of everyone talks to liz podcast. Spotify, apple, google. Let me know what you think. Dow up 242. Well be right back. Liz okay. Its prime time for trading at amazon. You have 12 minutes left to buy, sell or hold shares which right now are up 2. 33 . Third Quarter Results are coming after the bell. To Lauren Simonetti with what investors need to be watching with amazon. Lauren hey, liz. Well, first off, its going to be hard to impress wall street, but amazons going to try. They are expected to say that revenue will grow 32 to 92. 7 billion in the quarter. Earnings to rise by 75 but remember in the second quarter, amazons profits came in five times the estimate so like i said, investors are hoping for another blowout and they might be disappointed and sell the stock if they dont get it. Well see in the next couple of minutes. But this quarters probably going to be a little noisy. You have many brick and mortars that were open and quite busy in july. Thats included in this reporting period. And that could hurt amazon. Second, it spends a lot of money, particularly in two areas, covid19 safety and expanding fulfillment capacity ahead of prime day which we just had. Also, the holiday quarter, that spending could eat into its margins. Watch for any guidance that they give as a peek into how the consumer is feeling. Remember, amazon responsible for onethird of all online sales here in the u. S. Then you have this colder weather, rise in infections that will keep people shopping from their couch. Thats good for amazon. I would be remiss if i didnt tell you about the cloud. Aws expected to report revenue of 11. 58 billion, more employees working from home and Companies Invest in it to enable the remote work so thats going to be another key segment for amazon. Liz, back to you. Liz i will take it. Thank you. Its great to see you, lauren. We appreciate it. Double, double, toil and trouble. Jason katz gives you his perfect witchs brew that will keep your portfolio, he says, from getting tricked by the halloween week volatility. With the closing bell ringing in seven minutes, and the dow holding on to nice gains of 278 points, the claman countdown coming right back. The American Dream means everything. Generations sacrificed so much found a way and a way of life. Bills, mortgage, keeping up with the kids. But, you know what its worth it its where we want to be. And where we want to stay. Well. The American Dream lives on. So does your home. Start that renovation, fix whats long overdue, replace whats broken. Make your home safer, nicer, better. You could do all that with a reverse mortgage from aag. Get your tax free cash to fix or replace what you need for your home with a reverse Mortgage Loan from aag find out how much cash you may qualify for today call for your free aag info kit theres no obligation and the call is absolutely free designed just for Older Americans, a reverse Mortgage Loan gives you more options, more flexibility. Flexibility to pay off as little, or as much, as you want. Or, choose to pay nothing now, keep the cash in your pocket, and pay it off when you leave the home. Choose the reverse Mortgage Loan that suits you it can eliminate your exsiting monthly mortgage payments pay off credit cards and other bills. Find out more and get your info kit now. Look, reverse mortgages arent for everyone. But, if youre looking for some extra cash, for whatever reason, your homes equity just might be the right solution. Why dont you give aag a call . I trust em. You can too. You can trust aag to give you the information you need to see if a reverse mortgage is right for you. Get your free info kit today. Liz check it now, fewer than now minutes to go before the closing bell rings. Dow up 205. High of the session. It had been up 371. Nasdaq up 219. Halloween just a few days away. Two trick or treats might market mark witches have in for for investors. Jason katz, senior Portfolio Manager from ubs he is a close personal friend from the three witches of macbeth. The market witchs brew. Give it straight. What should you be looking at . What the ingredients of trickortreats . From a trick perspective, we could have scare year week, liz. Potential contested election. Covid cases, timing or lack thereof of stimulus package. But on the other side the fed couldnt be more accommodative. Hard to be that bearish if theyre so accommodative. Antivirals, vaccines and treatments of the virus. Liz okay, so you laid this out. The tricks on the left, treats on the right. Could you give us the form of costume when investors should be wearing when it comes to sectors and areas where they might see some real opportunity . So if i were to go to halloween party, which of course im not, maybe i go to virtual one, i would wear costume of financial and my wife wear health care. Financials are the best way to get bet against the bond market. Rates should steepen as we get reopened and loans should come down. Health care with the not only with respect to the vaccines but an array of other medical developments. Those are the few costumes very investable here, liz. Liz how closely are you looking at areas that have Pricing Power . In the last couple minutes, we have the news on netflix, i know you dont comment on individual names, the big picture on company that does extraordinarily well during the pandemic. Has Pricing Power, will race prices monthly, from a dollar to two dollars, depending on it. That looks great for netflix. You can see how it absolutely turned around from being marginally lower to a big spike up. It is up nearly 4 . Do you invest by looking at areas with opportunity to raise prices and investors and consumers wont reject that move . There has been a witchs cocktail of concerns out there. When you look at secular Growth Trends and companies that have the ability to have that Pricing Power, that enable us to get through covid that help us in the future, even when the world normalizes, that you want to have a weighting there. Valuations we never seen such a chasm between large cap growth and value. 30 difference in performance here. While i wouldnt abandon names like that, i would tilt towards cyclicality. Companies tied to the physical economy. Liz people talking about the materials and the possibility well see real movements when it comes to manufacturing. Jason katz, a beautiful prehalloween forecast for us. [closing bell rings] connell if you own apple, google, facebook, amazon, Cheesecake Factory all of them have earnings on deck. Markets recover some but not all of this weeks losses. I will see you tomorrow. Connell here we go, big tech leading a big bounce back in the market today. This indeed will be a huge hour for that industry. We have five tech titans. You know all the names set to be reporting their earnings. Well cover it all. Im Connell Mcshane this is after the bell. First the closing numbers with stocks rising, economy growing at a record pace. We tried to recover some losses from the steepest selloff in four months we all experienced yesterday. The dow was down more than 200 points at the low today. Closes up about 139. Now this hour, more than five trillion dollars in market cap on the line. Apple,n,