Transcripts For FBC The Claman Countdown 20240712 : vimarsan

FBC The Claman Countdown July 12, 2024

States. Hes at the Scranton International airport just outside the hometown of his opponent, joe biden. Former Vice President biden, step for step in pennsylvania at this hour. He just wrapped up an event in monaca, and will be heading to pittsburgh for two events later. Both candidates hoping lastminute stops in the keystone state will be the key to victory tomorrow. Lets curate crucial charts and numbers for you. The gravitational pull for stocks going both north and south, although with the nasdaq we look like we are going to go back up north for the moment after suffering its worst week since march, you can see the Dow Jones Industrials back on track for the bulls, up 423 points. Of course, on this first day of november trade, you have the nasdaq whipsawing up and down. Right nows t its down three points. Low of the session, a loss of 80. A high of 159. Trying to figure out the direction for that index. The vix or wall street fear gauge complacent at this hour. It actually, as we look at it, is up 33 since october 5th. That is the 30 days leading up to election day. Only the 30 days before the 2016 election were higher. So you look at that kind of jump and you realize theres as much tension right there in the markets here over the past 30 days. Weve got our bipartisan Economic Panel ready to go. Grover norquist, americans for tax reform president , faces off against austan gals boolsbee, f chairman of the council of economic advisers under president obama. They are about to make the final case to undecided voters who may want to vote with their wallet. I know thats a lot of you guys out there. Stay tuned. What about the pandemic . Will spiking cases tilt this election . Dan bergman runs henry shine, the medical Products Company that distributes vaccines. How his company is preparing the nation for the upcoming twindemic. Flu season in the middle of the covid crisis. Hes here in a fox business exclusive. Check the dow, up 410. To the election epicenter of the moment, pennsylvania. No wonder both President Trump and former Vice President biden are campaigning there with just one day to go. They are battling for 20 crucial Electoral College votes. Real clear politics average based on polls over the past six days show that former Vice President biden holds a slim 2. 9 lead over President Trump who is stressing a narrative that he will be better for fracking and coal which of course are important to that state. Now, here at the claman countdown we are looking at facts and numbers. We wanted to show you this number. Since the 2016 election, when donald trump shocked the world by turning pennsylvania red to win the presidency, the S P Energy Index which is jampacked with energy names, is actually down 59 . Will joe biden be able to flip it back to blue by convincing voters that perhaps President Trump has not been as helpful to fossil fuel companies as some perceive . That is the question we pose to Connell Mcshane, who has been out talking to voters in wilkesbarre. Connell . Connell thats a really good stat. I dont think people would have guessed that off the top of their head. Not only are we talking to voters but we spent a lot of time in the mountains around williamsport, pennsylvania, rural part of the state, talking to Energy Company executives. Im guessing they would argue that their business doesnt always correlate with the stock price, maybe following the price of oil and other commodities as much as it does with job growth. You sometimes can have one without the other and we were talking to them, they say they really brought a boom to that area over the last ten years or so and added so many jobs that if policy were to change, they do say that they fear for what the future might hold economically for the local economy and the knockoff or knockdown effect those type of things have on local economies, states like pennsylvania and texas and others. But youre right. It could all come down to here, the 20 electoral votes. Today we are in luzerne county, in wilkesbarre, pennsylvania. President trump only won the state by 44,000 last time around so thats how important it was. In speaking to voters over the last number of days in the state more broadly, you do get a sense of how divided pennsylvania is. Take a listen. After he had it and was treated topnotch, there are so many families that have had not near those advantages and have lost family members. I cant imagine one thing biden could do that would be that much different than what donald trump did. We all got tests and i know they say thats not going to happen. The misery index is rising dramatically. Its scary times. Connell so as you heard, the two issues, this is true in a lot of swing states we have been to but especially true here in pennsylvania, that come up, the economy and handling of the coronavirus pandemic. Now, just anecdotally, i got a sandwich earlier down the street here and the woman i was speaking to about the election, first thing she said to me was i just cannot wait for this election to be over. And it will be, we think, by tomorrow, but the problem here in pennsylvania is you have two million plus people who have voted by mail early. The president s counting on a huge inperson turnout tomorrow to make up for any deficit on the mailin side, but they will take a number of days if its very close to count those mailin ballots so we might not know the pennsylvania results until maybe friday. Back to you. Liz unless they rip it, right, they start counting those ballots very very quickly. We shall see. Connell you cant until the polls close. Its a little different than other states. Its a year like no other. Liz connell, thank you very much. Connell mcshane. All right. While tomorrow may not reveal the final winner of the president ial race, the country faces a huge question mark as to which direction the markets and your money will go after election day. As investors attempt to hedge and pick stocks for multiple scenarios, jpmorgan put together a trump basket and a biden basket of stocks over just the last two months. The biden basket has gained 4. 5 while the trump basket has dropped 16 . All right. I know your next question, what does each one include . Jpmorgans biden basket has a lot of alternative energy infrastructure, some cannabis stocks, while the jpmorgan team put banks, fossil fuels, big tech, defense, pharma, biotech in the trump basket. David kelley is jpmorgans chief global strategist. In 2016, all right, david, the election wreaked havoc on the markets over the course of 24 hours. Let me start with a general picture. What are you guys bracing for this time around . Well, i think its bracing for volatility. Its very hard to call this exactly but you have got all the polling but its such an unusual election with all these mailin ballots that i think it gets harder for pollsters anyway. We are bracing for turbulence the next few days but hopefully, we will have an answer within 48 to 72 hours, as to who the president is, who controls the senate, who controls the house, and you know, people need to remember, uncertainty generally goes down after elections. It feels very tense right now but generally speaking, elections are decisive and certainly will in the end get a decisive result here. Liz its kind of interesting, the technology is lower today considering it has been a leadership sector here. But this is possibly the most technologically, we hope, advanced election of our lifetimes, right . Because you are dealing with a lot of technological moves from getting the post office to move more quickly to of course counting votes, et cetera, and polling locations. Does it surprise you that big tech at the moment, which has had a great year, obviously, apple up 46 , facebook up 26 , nvidia, up 112 , that we are starting to see a pullback in these names or is this just profit taking and investors are doing what they are supposed to do, take some cream off the top here . Well, it could be profit taking but it also could have something to do with long term Interest Rates. Long term Interest Rates are really, really low. Thats actually very good for big growth companies, because growth Stock Companies depend on earnings for years and decades into the future and they are quite sensitive. The value of those earnings are sensitive to Interest Rates. If you think long term Interest Rates are going to go up, that actually could be pretty negative for those big cap Growth Stocks and that might be something thats going on here, because as i said, uncertainty will go down. We know that eventually, we will have a Covid Vaccine and hopefully, we will have more uniform compliance with Public Health measures, so we can actually get past this pandemic and when we do that, the economy is going to come back more strongly, the Federal Reserve will be a little less generous in terms of rates. I do think rates are going to go up. Ultimately when rates go up, that ought to close the gap a little between the Growth Stocks and value stocks. Liz right. Right. And certainly help savers who have been on the short end of this stick for quite some time. David, youve got the word strategist in your title. Strategize, what are you telling clients at this moment specifically about how to hedge, how to pick stocks during the next 72 hours . Well, just dont make a big bet one way or the other. Dont pretend you know the outcome of the election or you know how the market will react to the outcome. A lot of people were surprised in 2016, both surprised by the outcome and then by how the markets reacted. So dont make that bet. Be well diversified but also recognize, you know, make a plan for the next six months, for the next few years. As we come out of this, the markets are very dislocated within themselves. Long term bonds are too expensive. Megacap Growth Stocks may look too expensive, too, whereas international stocks, really emerging markets, if the dollar was to come down over the next two years because of maybe less trade tension, that would help emerging markets also. Make sure you are well diversified. Take advantage of the stuff thats actually cheap because if we enter a slightly less tense, more rational world in the long run, the cheap stuff ought to outperform some of the stuff thats expensive today. Liz yeah. You know what, im looking at chart after chart including the emerging markets. Everything is recovered from march. Thats certainly good news. David, you know what, something tells me we will be speaking in the coming days. Its great to have you. We will be watching. Stay the course. Stay calm. Thats what david kelly is telling us from jpmorgan. Thank you. Thank you. Liz fox business alert right here. We have two companies that have recently gone public and they are moving higher. Start with Live Sports Streaming Service fubo tv which ipoed in early october. Take a look. It is moving higher by two percentage points. Wall Street Research firms, they do this, they initiate coverage on Brand New Company names and guess what, its getting favorable ratings. It is now standing at 13. 72. Meanwhile, electric vehicle maker fisker, this is a new baby, Just Launched via spac last friday, it is flying higher right now, up 10. 33 on no real news other than it went public via spac. But it could be on this news, unrelated to the actual name, but chinese electric vehicle makers, xpang and nio both reported strong october deliveries. The shift to electronic vehicles, electric vehicles, seems to be very much in play, certainly in china. So why not throw in tesla at the moment. Yeah, nio up 8. 6 . Xpeng up 7 . Tesla up 2. 9 . Cars are not the only thing selling in china. Skin care line dr. Jart and helped estee lauder boost sales, reporting better than expected results enabled partially by the purchase of the south korean parent company. South korean skin care is a hot trend. Lauder is up 1. 77 right now. Thats a recent record high. 223. 54. Clorox cleaning doubling its latest quarterly profit as the pandemic continues to drive demand for clorox wipes and of course, bleach. Yeah. They are still limiting me at target. Two cannisters per time. I go in with different disguises on my face. Oh, now i have two more. Clorox up 5. 25 . Of course, covid also creating record demand for flu shots. Leaving some pharmacies with soldout signs. Stanleybergman of henry schein standing by live on what hes doing to keep the immunity boosters coming in the fight to avoid an allout flu covid twindemic this season. With the closing bell ringing in 45 minutes, youre watching the claman countdown. 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In fact, in 2019, humana Medicare Advantage Prescription Drug plan members saved and estimated 7,800 dollars on average on their prescription costs. Most humana Medicare Advantage plans include a Silver Sneakers Fitness Program at no extra cost. Dental and vision coverage is now included with most humana Medicare Advantage plans, and you get telehealth coverage with a zero dollar copay. You get all this for as low as a zero dollar monthly plan premium in many areas, and your doctor and hospital may already be a part of humanas large network. If you want the facts, call right now for the free decision guide from humana. There is no obligation, so call the number on your screen right now to see if your doctor is in our network, to find out if you can save on your prescriptions, and to get our free decision guide. Humana a more human way to healthcare. Liz anybody who doubted that a second wave of covid19 would be coming this fall is probably reconsidering those doubts. For the month of october, 31 states broke records for new cases in just a single day. As flu season begins now, are we looking at a twindemic . According to data from Johns Hopkins university, we have hit 9,247,036 cases and 231,227 deaths. Many companies in the u. S. Shifted operations to help battle the pandemic, including medical products giant henry schein. Here in a fox business exclusive, we welcome ceo stan bergman. This word twindemic, you got the flu crisis that could be coming and the covid crisis which is right in front of our faces here. What is business like for you and are you seeing demand that is being sucked up so quickly that we are watching supply run dry . Hi, liz. Good to see you. Well, on the regular flu vaccine, we have already shipped quite a bit. Actually, a little more than last year. And i think we should have enough flu vaccine, the regular flu vaccine. Of course, we are very busy with ppe, masks, cleaning solutions and the various other ppe products. Thats still in high demand. Liz stan, i went to a cvs and they had run out. They had run out of the flu vaccine. I had to go to a different one, then they said well, you got to make an appointment. I wonder if there isnt a bottleneck. Have you seen it in some regions . This of course is new jersey so people are pretty evolved, they understand we got to get this, but tell me what areas you are seeing and you, you are an expert at clearing bottlenecks internationally, what do you do when you start to see some squeeze . Well, liz, we provide we are the largest provider of products and related services to dentists and to physicians and so physicians generally have enough product today, the flu vaccine. We provided similar quantities to last year, added a little bit extra, so if the patient is seeking a flu vaccine, please call your physician and likely they will have it. Liz okay. Lets get to the covid19 situation. Talking about testing, we are still waiting for nationwide sort of rapid immediate testing, but the vaccine, how are you preparing once we do have a viable safe vaccine to make sure that the distribution is pitchperfect, that works really really well . Well, vaccines for the covid19, the first batches, the initial several million, will go through Third Party Distributor on behalf of the government. Were hopeful that once that first load into the government sector and the government will in turn forward those products to states. Once thats done, it will be provided through the Covid Vaccine will be provided to the private sector and distributed as we have other kinds of vaccines over the years and we anticipate it will be sufficient. Liz your Company Reported earnings this morning and you had a growth in revenue of 13 . But you didnt provide guida

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