193. Dow looks kind of squishy here, down 70 points. Also rising and in a very bad way, covid levels. Coming up, physician and creator of aipowered Symptom Tracker buoy, andrew lay, on the role his startup is playing to contain the virus as it viciously rears its head again. Tiktok versus the Trump Administration. In less than 24 hours, that deadline for the wildly popular chinese owned social media platform to sell itself to oracle, that deadline arrives but is the short form video app about to upend President Trumps battle against it . We go to the white house as tiktok fights to stop that clock. On this veterans day we honor two Service Members who sacrificed more than anyone could ever ask them to. Now back at home, they are the living and breathing embodiment of the american entrepreneurial spirit. We cannot wait to introduce you to these amazing heroes who credit one particular gift for helping them get back down to business. First, we start with a fox business alert. The Hedge Fund Manager who is up 44 this year now betting things are about to get very tough for corporations. At a Financial Times event, activist investor bill ackman of Pershing Square capital says we are in a treacherous time and investors have gotten too complacent about the epidemic. Hes now making a similar bet that made him billions earlier this year. That bet . Buying insurance policies against corporate defaults, a trade that netted his company 2. 6 billion. Yes, Goldman Sachs making the opposite call. Goldman just boosted its year end price target on the s p to 3700 from 3600. We are currently hovering above 3560. We are really kind of close to 3700. Not too far there. Goldman, not done yet. Also targeting 4300 for the s p by the end of 2021. To our floor show traders. Tom hayes, phil flynn. What do you guys think . Considering we are now topping one million covid cases in texas, nearly 140,000 new cases nationwide yesterday alone, and of course, the spiking hospitalizations, record high, more than 60,000 people treated. Tom, do you take one side or the other, ackman, goldman, maybe a little of both . Whats the trade you see there . We are celebrating two sets of heroes today. The veterans and of course, the doctors. While cases have shot up tremendously, the deaths yesterday for covidrelated deaths were only nine for the whole country. So treatments are getting much better. Obviously the vaccine was a huge catalyst for the goldman call because no one could have anticipated 90 efficacy so thats coming down the pike. We have moderna coming soon and a lot of good things happening. Im going to side with goldman. The premise here is that the consensus earnings estimates are too low at 168 for the s p 500. He has them at 175 and the thing im keeping my eye on, not today but as a trend, is the tenyear yield because that steepening is going to add earnings power to banks and thats going to add a lot of earnings power to the s p 500 next year, number one. And number two, the banks are overreserved by about 25 billion. They made those assumptions when people were looking at 20 unemployment. We are now at 6. 9 unemployment so thats all going to come back as earnings power in 21 and 2022. So lot of positive things to look forward to, liz. As far as the greatest trade with bill ackman putting that hedge on his equity portfolio, its very uncommon to have two greatest trades in one year, as we saw with the big short, it was very hard to replicate that performance moving forward. You only have to do it right once. Liz yeah. Thats right. That is true. Phil, you see that twoweek chart of the tenyear yield . Guys, we dont want to get too wonky here but when the yield starts to spike, thats a 13 basis point jump over just one week, which means there is not a lot of fear in this market. You could look at the vix, 13point drop since last week, seven trading days ago. Which side do you take here, phil, and whats your trade . I go with the goldman. Even bill ackman, i dont think he totally believes in this trade either. You know, that last trade really bailed him out. His fund was actually down 7 . This was the one trade that he bet on, he bet big on the corporations being hurt by the defaults and he won on that bet. But even on this bet, he seems halfhearted with it. This time were not going all in, were going in about 30 and basically, i hope im wrong, because what that tells me is that hes doing this liz he did say that. Yeah. You know, hes doing this as more of a hedge, and he kind of believes the markets going to go up but this is a just in case scenario. The worst thing for him obviously is this vaccine because the odds of the vaccine, low Interest Rates which we have been seeing, right, thats going to be an interesting thing. But you look at those bond yields, surprisingly, you look at the 30year bonds, they are making the loans on the futures, the high on the yield, tenyear yields have been falling. I think that could chart a little bit. I think its a little bit overdone. But i think the way i would play it, i think i would want to be, the short end of the curve if we get this vaccine i think could gain him the longer end of the curve. Liz okay. Is that your trade . Do you look at anything thats just horrible right now, tom, you would say forget it, this is not going to be a good play . Well, tell you what i do like. I like fox corporation, believe it or not, over 80 million subs, you get a piece of the claman countdown. They have authorized over 2 billion of buybacks. They bought 500 million of shares back at 35. You could go into the market right now and buy it at a discount to the company. I think the trends are very positive coming out of this new business cycle. Liz sold. Im sold on that. Thank you very much, guys. Good to see you, tom, phil. We appreciate it. We need to tell you about covid19 cases. You know they are continuing to spike to record highs across the country. With the u. S. Now, we clock about 10. 3 million cases, 240,000 deaths, bringing new shutdowns to states across the country. Sort of pinpointed shutdowns but minnesota, new jersey, maryland, massachusetts, those names are all hunkering down, spreading the message put out there by the cdc, please wear your mask. A Goldman Sachs study says 15 more people in the u. S. Wore masks, it could save 1 trillion in economic losses and prevent more shutdowns. Lets get more on the cdcs message from the white house and what we will also tackle this tiktok story but first, the cdc, blake, whos listening, whos not . Reporter new guidance from the cdc that was put out that basically says wear your mask. The updated guidance says there is a benefit for the actual person wearing the mask, but also those who are in the vicinity of that mask wearer. They also talked about the economic benefits of mask usage. For example, in that new cdc guidance, at one point it says the following. I will quote here. Adopting universal masking policies can help avert future lockdowns especially, they write, if combined with other nonpharmaceutical intervention such as social distancing, hand hygiene and adequate ventilation. They also talk about that Goldman Sachs study that you just referenced saying it could mean 5 to gdp. Speaking of other big numbers and the economy, liz, the stimulus package or at least a lack thereof at this point, still no way forward as to how that could shake out here in washington. On this show yesterday, sheila bair even sounded this alarm as to what congressional inaction might mean. Watch. We could be in a very bad situation because if households become more distressed, Small Businesses in particular become more distressed, they start to default on their loans, the Banking System becomes distressed and then you have a financial crisis in addition to a health crisis. Reporter everything that we have seen suggests there is not going to be some sort of stimulus package any time soon. You also mentioned tiktok. There is of course that cfius deadline tomorrow, cfius, the treasury department, the other building behind my shoulder. Tiktok has said they havent heard anything really in terms of updates from the Trump Administration in the recent days and weeks, and they are trying to see and at least wait as to how all this may or may not shake out in the upcoming 24 hours or so. Liz . Liz well, yeah. Its 24 hours and tiktoks complaint as you know, they are going to file this petition, their complaint is that they have not heard from the Trump Administration about all the issues that they feel they have remedied. We shall see. Chinese owned, we can look at oracles stock. I want to quickly check that at the moment because oracle is the one that says okay, well pick you up but its really not even a purchase. Its simply a very Small Partnership which does not fall under the you got to sell yourself and completely divest to a u. S. Company. Reporter yeah. There were all these backandforth about who might they partner with, how would all this work, what are the securities concerns, the securities concerns being the whole cfius process in all of this. Tiktok is saying we havent really heard from the Trump Administration whats going on here. Well see, i guess, how it plays out here shortly. Liz maybe its no longer a priority. We know things are crazy and busy in washington, where you are. Blake, thank you very much. Okay. Then weve got this. As americans wait on the next relief package to form, as blake just said, it aint forming, retail giant gap partnering with afterpay to bring a buy now, pay later feature to its family stores, old navy, gap, banana republic. Customers who shop online can pay off their purchases in four interestfree installments. Shares of gap down about 2. 6 . On the perception, perhaps, that maybe they will lose money on that deal. We shall see. Afterpay jumping 4 . Now eight months into the pandemic, a protein focused restaurant chain jumping on the meal plan delivery band wagon. The stock reaction may just tell you whether the covid trade is still hot or not. Closing bell ringing in 49 minutes. The nasdaq jumping 201 points. We are going to show you that restaurant chain and what its doing next when the claman countdown returns. We all have our own journey ahead of us. Our own hopes and dreams. Well pass many milestones. Moments that define you. 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It inflates and deflates in less than 30 seconds using the electric pump. Head to aerotrainer. Com now. Now its your turn to lose weight, look great, and be healthy. Get off the floor and get on the aerotrainer. Go to aerotrainer. Com, thats aerotrainer. Com. Liz fox business alert. While we know coronavirus is spreading like wildfire right now, two stocks are giving us an indication as to whether the covid trade is on or off. Let us look if we can at muscle maker grill. It is off the premarket spike. This is a microcap, by the way. Its off the premarket spike of 11 that we saw earlier after it announced a deal to roll out an online meal plan delivery service, but the stock is still jumping 6. 5 on belief that its Health Conscious clientele will pile in with orders. As investors weigh that, look at yelp. Yelp is down. 66 . Listen, evercore believes in it, giving it a big vote of confidence to shares of the restaurant review crowd sourcer. Evercore has raised the target price to 37 bucks. Right now its at 28. 51. With an outperform rating, saying a postpandemic world is great for the stock but obviously, still not in there. It should be fine for the company and it will still have traction due to restaurant and takeout demand. Month to date, yelp is up 50 . Sticking with the dining during the pandemic theme, Chipotle Mexican Grill opening its first takeout only restaurant saturday in highland falls, new york. This location will have a kitchen and a lobby but no dining area. Customers place their orders online and you can pick up or get it delivered, but theres no real interaction at all there. Chipotle Mexican Grill stock up 5. 25 on that news. Look at fubu tv hitting an all time high after it reported a rise in Third Quarter revenue, forecast a higher Fourth Quarter and paid subscribers hit a record high. Its jumping 5. 7 . The great rotation out of tech stocks is kind of missing in action at this hour as tech shares make a comeback. Look at market cap of apple. Right now, its jumping 2. 6 . Its market cap is now back above 2 trillion. And the nearly 3 bump, where did that come from . Well, after yesterdays big one more thing event during which the tech giant unveiled three new Mac Computers to its portfolio, all powered by their very own apple m1 chip. Then we can look at zoom. Zoom, after mondays Pfizer Vaccine news, dumped water on shares of the Video Conferencing leader, zoom is enjoying quite a comeback. Its up 8 at the moment to 406. 70. But you know, you look at the beginning of the last couple of sessions, you can see that that tech rotation everybody thought oh, this is it, this is for real, well, yeah, look at the nasdaq. We have put that back up on the bug here. We are up 204 . Those two names barely scratched the surface of the tech stock resurgence we are seeing right now. Lets get to cheryl. Shes got more leaders and some laggards . Cheryl interesting story here, because alibaba, first the good news, set new records for its singles day, their version of prime day. They clocked in 56 billion, yes, billion, on the first day of the event. A total of 75 billion in sales in total. But the stock has been under pressure due to regulatory issues and concerns in china. There is worry that the Chinese Government is going to clamp down on Technology Companies like alibaba. The stock right now is down more than. 25 but remember, its up about 25 year to date. Theres the context for that one. Speaking of tech and regulatory issues, amazon is feeling the heat. The European Union is charging the ecommerce behemoth that it is quote illegally distorting competition in Online Retail markets. So the commission has decided to open a second investigation into amazon. The question now, does that spill into the united states. The stock is up today, as you can see, almost 3 . Amazon also up about 68 year to date. Then i want to leave you with this one, our favorite stock, peloton fresh off the big news they secured an exclusive partnership with none other than beyonce. You love that, right . The stock is outperforming as you would expect, up 273 year to date. Right now its up 1. 5 . It didnt get a big boost from the news but that was also on the heels of the pfizer coronavirus, you know, the vaccine, excuse me, news out of pfizer and biontech on monday. So its been kind of an interesting week for these companies. Liz well, so much depends on whether people feel comfortable going back into public gyms. We will be watching that. For now it looks like pelotons in a sweet spot. Thank you, cheryl. Here we go. I keep looking at the nasdaq. We are up about 207 points. They went to faroff war zones to serve and came back gravely wounded and hanging by a thread. But on this veterans day, you are about to meet two heroes who endured the unimaginable, came home and now run their own very successful businesses. How did they get back on their feet after losing their legs . With the closing bell ringing in 40 minutes, we are about to let them tell you their incredible stories when the claman countdown returns. Im telling you, you cannot move. You have to hear the story of greg and joe. Ith achievable steps along the way. So we can spend a bit now, knowing were prepared for the future. Surprise we renovated the guest room, so you can live with us. Oooh, well. Im good at my condo. Oh. I love her condo. Nana throws the best parties. Well planned, well invested, well protected. Voya. Be confident to and through retirement. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. 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