Transcripts For FBC The Claman Countdown 20240711

Up 95 points. The dow better by 393 points. Perhaps on investor belief that the worsening pandemic will shake congress fists open leading to, perhaps, the passage of a relief package. But as millions rush to get tested, rapid covid testing suddenly under fire from billionaire Tesla Ceo Elon musk who claims he took four tests with confusing results. So were bringing out one of the breakout stars of the netflix dock you series pandemic, dr. Jacob glanfeld, what he wants to hear from the president as the development of a covid19 vaccine inches closer to reality. And the coronavirus isnt elon musks only problem. Theres a new player on the electric vehicle front carving out its own ev beast face. Yes, thats right, the ceo is here in a fox business exclusive. Yes, the company is publicly traded. Well tell you who it is. All right, but first a fox business alert, just as americans rush en masse to get covid tested this hour, teslas ceo, elon musk, is on the attack. Did you see what he treat tweeted last night . Lets show it to you. He tweeted right here on your screen something extremely bogus is going on. Was tested four times for covid, two two negative, two positive, same machine, same test, same nurse. Rapid antigen test from bd. Lets not forget that elon musk stated earlier this year that we would be close to zero cases of the coronavirus by the end of april. Which is, obviously, nowhere near where we stand today. Its a disaster today. But his experience as an engineer, his big brain, right . We know hes been brilliant on many things, but does this lead us to the question of which covid19 test is more accurate and should he just stick to what he does best and thats making autos and rockets . Lets bring in the scientist working to put an end to viruses like covid19 and the flu, distributed bio ceo dr. Jacob glanfield joining us from one of his labs. First, what do you make of what elon musk said . Hi, liz. So hes asking an important question that all of these companies and that is how often do we successfully identify someone who is infected and how often do we miss that and how often do we accidentally call someone whos not infected as being infected . The tests like the ones being done by abbott, those ones are pretty good, over 95 good job providing theyre already showing symptoms. Think the problem weve seen with some of the confusion is what everyone would like to do is screen people before they go into a party, as weve seen in some, you know, high profile events around the nation. And, unfortunately, the tests arent very good at correctly detecting someone whos infected in that scenario. So i cant speak to the specific test that elon ran this test with, but hes asking a reasonable question which is how reproducible are the tests. Liz well, the pcr, the nasal swab test, would you just simply recommend that . Becketten dickenson is the company thats making the rapid test, or at least one of them. The stock is up more than 1 . So as we show that, youve got to give me a sense of what you think about that nasal swab test, and then well move on to what exactly youre doing. Most of these nasal swab tests what theyre doing is theyre scraping out a little bit of your cells, and they check to see whether the dna or the rna instructions of the virus are present in that sample, and if its present, then youre infected. That process is pretty good at detecting if the virus is present. But if you just recently have been infected or there isnt that much virus in your body, it may think that youre fine when, in fact, you are actually still sick. Thats why they wait for you to show symptom, because then theres more virus present. In general, these tests are very helpful tools to identify people early who need to receive special care. One of the problems is we dont have that many good treatments yet. Theyll be even more useful once we have good treatments that we can give to these individuals. Liz which is where you come in. Pfizer, of course, has a vaccine they say is9 0 effective 90 effective. Were all waiting on that. You are contracted out by pfizer. First, explain to us the challenges at the moment. We keep hearing that this thing has to be kept, this vaccine has to be kept at unbelievably cold temperatures, i believe around 94 degrees, 94 degrees celsius. I mean, dry ice is 79 degrees celsius. How do you do that . I mean, what do you have in that lab behind you that keeps things that cold . Sure. So ill show you the 80 freezerrer that we use routinely, ill give you a sense of how this is different than a normal 20 freezer and how not all hospitals have access to it and a little bit about whether dry ice can be used for the same purpose. Ill take off my headset here. 80 degree freezers, they have [inaudible] the ambient temperature, almost like a submarine door. That reveals the inside, it has a second layer. The deep freeze here, this is where the samples are stored. And this is necessary [inaudible] multiple layers of insulation to be able to maintain that temperature. Now, the good news, as you mentioned, is that dry ice is at 78 degrees, 78 degrees celsius which is nearly the same temperature as the freezerrer behind me, and i think youre likely going to find policy folks asking the very hard question, does it really need to be at 94 or can 80 save the same purpose and greatly facilitate our need to ship the drug wherever its needed. Liz well, that is the question, jacob, and im thrilled to have you right here because [laughter] you came on in the early part of this, and you were ramping ahead with the u. S. Military, really working on all kinds of antibody opportunities here. But how do you scale Something Like that up across the United States when we know how difficult that is, transporting it is extremely difficult, and just so people understand, these are not therapies and vaccines that are made from chemical compounds which may not necessarily need that cold storage. Theyre made from biologic cells. So, you know, theres a huge challenge, and you wonder how were going to be able to spread this across this gigantic nation. Well, thats right. For pfizer, their challenge is its an rna vaccine, and so they want to maintain it, basically, the older you go, the slower all things move, and theyre basically trying to put everything in hibernation to protect the medicine. I think its important for policymakers to ask does it really need to be 94 or could it just be 80 in which case we could use dry ice. But im sure pfizers looking at this. Now, with respect to treatments like antibodies go ahead. Liz no, i was please, you. [laughter] youre the expert, go ahead. So with respect to treatments for our antibody therapy, for instance, we are engineering it on purpose so that it canning be shipped at, essentially, 28 degrees. Thats about what a deli refrigerator would thats part of the reason why were engaged with the navy and the military, they also need to make sure they have something which is continually distributed for mass use. Liz who do you think should get the vaccine first . Were hearing all kinds of reports about the president elect biden and that his Covid Task Force is considering that we should spread it out across the United States and the rest of the country in an equal way. Do you have a stance on that, and yeah, i do. Liz [inaudible] possibility here . This is the policy everyone chooses. What you should do, so pfizer mentioned different numbers, between 50100 million doses available by the end of the year. The priority should be given to them to the people who are at the greatest risk, so this is going to include the elderly, people in old folks homes, the immunocompromised to the extent they can benefit from a vaccine, they should also include Health Care Workers that are at very high risk of being exposed to the virus. And once that first group of people is protected, thats really going to help because thats going to reduce the incidents of those people reaching the hospital and having really rough outcomes. And after that well roll it out in waves. Probably work backwards in age. The folks who are going to wait the longest are probably Healthy People in their 20s. Liz but im asking u. S. Elderly or all of the world elderly . I mean, ultimately, we do need all of the world to have access. I think youre going to see a set of contracts and negotiations are going to dictate who has access. The problem with this virus is until we have the whole world immunizedded, if we neglect a certain area, that group will reinfect the rest of us, so it is important to e achieve global immunization. The Pfizer Vaccine showed a pretty highfectiveness, the spike on this virus is a weak spot. Its targeting over 90 effective vaccine response. The Moderna Vaccine is very similar and, indeed, the other vaccines this bodes well as well. And across multiple companies were talking about millions of doses that should be able to be mobilized in 2021, so i think we are going to be able to produce enough vaccine for the whole world, and were in a strong position that thatll be highly effective. Liz ah, from your mouth to gods ears. Thank you for opening up your freezers and explaining that to us. Of course, were going to take you to the white house, top of the hour. This is what were hear willing, that President Trump will appear in the rose garden for a News Conference. We may or may not take questions, were not sure. Were getting all kinds of guidance on that. After the bell will have complete coverage and watch the stocks in realtime that may be related to this. Fox business alert, disneys ceo lashing out against california covid regulations that have kept disneyland in california shuttered. Even with the backdrop of spiking pandemic cases, hospitalizations and, yes, deaths, the ceo complained on his Earnings Call yesterday that customers want disneyland to reopen. Quote unfortunately, were extremely disappointed that the state of california continues to keep disneyland closed. Do we have that sound bite . Unfortunately, we are extremely disappointed that the state of california continues to keep disneyland closed despite our proven track record. Our health and safety protocols are sciencebased and have the support of labor unions representing 99 of our hourly cast members. Frankly, as we and other Civic Leaders have stated before, we believe state leadership should look objectively at what weve achieved successfully at our parks around the world. Liz i dont know, you know, youve got a very serious situation in the state of california, but the parks drama aside, the mouse house and maybe this is why the stock up 2. 25 streaming its way to a narrower than expected quarterly loss. Disney plus and hulu show subscriber games, many coming from india and indonesia, and those subscribers pay far less. The return of live sports boosting espn plus subscribers numbers as well, past the 10 million mark. Disney stock standing at 138. 60. Espns not the only one scoring a touchdown on the comeback of pro sports. Better than expected results in the Third Quarter thanks to the return of the nfl, the nba, nhl and mlb action. The Online Gambling stock draftkings jumping 5. 33 , also getting a boost on its prediction revenue growth, will pop 45 yearoveryear in 2021. So its rivals are basking in the halo effect, Penn National gaming up 3. 33, caesars up 5. 3 . The gaming explosion, a 53 year over year search in revenue leading Unity Software to a smaller than expected loss in its first Quarterly Report since going public. Webbush praising the, quote, near flawless performance of the gaming and 3d software maker. Youve got these developers who subscribe to unitys of software suited, at least three other firms raising their price target. Ticker symbol u. And revlon, just three days after leading the russell 2000 to new highs, the makeup maven dropping 17 percent on an ugly 20 drop in quarterly sales, but revlon shares still set for a gain for the week after fending off bankruptcy. Please, revlon, do not go bankrupt. No. Liz no. I definitely need the silver city pink, okay . Live and die. Who doesnt . Greg doesnt, my tech guy does not. So many of these companies, they think they can predict what their stock will do in 2021. But can you predict what the entire market will look like six months from now . Maybe todays bullish action giving us the biggest clue. With the closing bell ringing in 45 and a half minutes and the dow jumping 370 points, our floor show traders are about to play detective with that clue when the claman countdown returns. Stay with us. Liz breaking news, folks, weve got to look at the russell 2000. It just i touched an alltime high. Its currently on track for a record close. Okay, so weve heard a lot about records in the s p, the nasdaq. No, no, no, this would be the first record for the russell. This is the small cap benchmark, in more than two years. The russell needs to finish up more than 32. 2 points, its up 36. 3 points right now, to hit that record close. So maybe today is the day that it closes in record territory. Markets are pretty much overall doing the same thing jpmorgan strategists did overnight, make at bet not on whats happening in the world today, but what will happen in the future. Jpmorgan is increasing its equity overweight to 10 from 8 . At the same time, the team reduced its overbought position in Corporate Bonds and raised its Government Bond underweight from 11 to 12 . Should investors follow . To our floor show, barry james and Teddy Weisberg join us on this friday, the 13th. Um, barry, i know, people get all nervous. Liz, dont say friday the 3th. What . Weve got a great day going here. Barry, with covid cases on the rise, Election Results in the, lets say, side mirror, a new administration coming into office most likely, are you investing six days out or six months out when the picture will be better . Looking six months out. As we look at the world through, you know, the eyes of the election, probably pretty much status quo. The most extreme elements are probably not going to take place in terms of policy. So itll be good for infrastructure, probably stimulus and the like, and, you know, the large growth, the tech stocks, you know, that yellow brick road thats been working, people will stay on. But the big changer is that vaccine. And as you just, you know, were talking about, 50 million doses by the end of the year, 1 is. 5 billion 1. 5 billion just from one company next year, and thats what people should Start Building towards, an opening economy, growing economy, smaller capp, valueoriented, more cyclical names, some of the banking stocks. So theres a change coming, its not going to happen immediately, but the change is coming and start investing that way now. Liz right. And that way, you say, is to buy names like caterpillar, lgi, and speak of banks, you like [inaudible] teddy, the market discounts whats right in front of it, and it looks further out. You know, it always kind of leads the economy. So give me a sense of whether you agree with this and whether its dangerous or the right path to invest that way. Well, i think most people would agree that the market is a forwardlooking indicator, liz, not, you know, not a trailing indicator. And it tends to discount the future, not the past. And i think what jpmorgan did today, what Goldman Sachs said yesterday that most folks are looking for a better 2021 compared to 2020. Though if you had the right names in 2020, you certainly had a pretty good year. But, you know, the difference between looking out six days or six weeks as opposed to six months, i mean, my experience doing this much too long is that most [laughter] traders and investors sort of get it confused. And i think, unfortunately, most day traders, most people that trade the tape usually end up being unsuccessful in the long run. I mean, in my cause at my age, i dont even buy green bananas anymore. [laughter] but clearly, you want to look ahead. And success from investing in general is all about time horizons and patience. Obviously, youve got to pick the right names and have the right horses as we move forward. But it gets a lot easier and a lot more successful if you have longer term time horizonnens. So certainly six months is a good place to start, but i think, you know, you need to look even further out, two or three years, assuming you have all that time. And, but i would, i would stick with more or less the same names, liz. The same names that got us here probably are going to get us, get us in a positive place in 2021. Yes, therell be some shifting, and therell be some sector rotation, but you need to go where the earnings where, where the growth is, and that puts the techs right at the head of the class. Theyve been a little out of favor the last couple trading days, but in the end i think thats where you want to put your money. You want to own the exchange stocks, perhaps some of the big pharma stocks. Good companies, good balance sheets, good top and bottom line growth, and i think everybody will be pretty happy. Since months and perhaps even a year or two years down the road. Liz okay. Barry, thank you for joining us. Teddy, keep checking the expiration dates on the yogurt, the cottage cheese [laughter] the bananas, all of them. We love you both. Thank you so much. [laughter] all right. Snack giant best numbers getting a bingeworthy upgrade from Piper Sandler to overweight, rallying on the news by 1. 8 . But not everybody is sitting at home on the couch and snacking their way through the pandemic. The golf industry shooting a hole in one. Grab your clubs, were taking you to the 1st tee to show you the stocks that stand to gain. Closing bell ringing in 36 minutes. Or we are on track to see a s p and a russell record, so youve got to stay with us. Plus, the president , hes expected to speak within the next hour. Ot that. Free access to every platform. Mhm, yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. Now offering zero commissions on online trades. We charge you less so you have more to invest. 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. 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We go to Grady Trimble joining us live from five iron golf in chicago. Grady, i understand youre a bit of a hacker . Thats what im told, is that true . [laughter] kidding. Reporter this is not my game, ill tell you that much, liz. I played soccer in college [laughter] not a golfer, okay . But, yeah, were at 5iron golf. Like you said, this is one of the few sports you can play alone. You can play indoors here through the frigid chicago winters, but if you look at the numbers nationally for rounds played outside, even if you account for the time that the courses were closed earlier this year, rounds are up about 9 . Sales of golf equipment also up about 42 . Golfers are splurging on new bags and clubs, theyve spent more than a billion dollars in the Third Quarter of this year. Thats the only the other time that happened was back in the Second Quarter of 2008. Just a little trivia tidbit for you. That, of course, was when tiger won the u. S. Open. Weve got tim nagel here, he is the general manager at a 5iron golf. So youve9 had a lot of people coming in and buying clubs to the point where theyre basically on back order. Thats right, yeah. Its been great to see people come out, and it shows that theres a demand. Reporter bad for the people who have to wait but good for the industry as a whole. Its also been a boom for people who needed a new hobby. Youve seen, obviously, the regulars come in, but new people as well . Yes, correct. A lot of new beginners from people who have never played before or played 20 years ago, or all coming back, growing the game and practicing and getting new products. Reporter speaking of practicing, that was something i was doing between my reports. As i said, i am not a golfer. I was going to do a swing for you, liz, to show off my progress, but unfortunately, the simulators taken, so i cant embarrass myself on national tv. Liz oh, yeah. Conveniently, grady. All right. Thank you very much, Grady Trimble. Yeah, because theres social distancing almost built in to golf courses, open air. Lets hope at least one sport is doing well. To Lauren Simonetti right now with todays fox business brief. Hi, lauren. Reporter hey. I am the worst golfer ever. Liz, good to see you. Palantir pulled back the curtain, beating on revenue seeing growth of 52 during its first Earnings Report since going public at the end of september. Palantir lifted guidance for the Fourth Quarter after citing 15 new contracts in the Third Quarter, shares up almost 7 . Far fetch in fashion is swinging to a new high after the online luxury retailer saw revenue surge 71 last quarter. Farfetched said it expects 2021 to be a game changer thanks to its partnership with alibaba. But neo in red after the short seller andrew lutz pulled the plug on his bullish call. He said now is the time for investors to cash out of the stock while also slapping it with a 25 price target. Its trading at 44. 85 now. Citron may not be neos only trouble. Up next, liz talks to another up and coming ev maker motor company. Get realtime insights in your customized view of the market. Its smarter Trading Technology for smarter trading decisions. Fidelity. Keeping your oysters growing while keeping your business growing has you swamped. you need to hire i need indeed indeed you do. The moment you sponsor a job on indeed you get a shortlist of quality candidates from a resume data base so you can start hiring right away. Claim your seventyfivedollar credit when you post your first job at indeed. Com promo. You have cancer. How their world stopped and when they found a way to face it. For some, this is where their keytruda story begins. Keytruda a breakthrough immunotherapy that may treat certain cancers. 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You need flexibility to work from anywhere. And manage from everywhere. Advanced technology. With serious security. And reliable coverage, nationwide. Forwardthinking enterprises, deserve forwardthinking solutions. And thats what we deliver. So bounce forward, with comcast business. Liz all right. We just want to flag you here as President Trump gets set to hold a News Conference in the rose guarden at the top of the hour, hell be updating the nation on operate warp speed, markets are jumping into the close. We are getting very close, if not at record highs at the moment. In fact, when we started the show, we were up 408 points for the dow, that was the record. Were up 436 right now. The russell and s p alling for a close at new alltime highs. Youve got to stay with me for the next 23 minutes, okay . President is expected to take questions. Fox business will carry it live on after the bell. But in the meantime, take a look at ford. Ford investors are hauling in the green at this hour. Shares are jumping more than 3 right now as ford kicks off its strategy to electrify its commercial vehicles now its 4 higher with a batterypowered etransit van which will be available in late 2021. Those are the pictures that they have released of it. A nice little candy apple red and white. But watch for tailgaters, ford. The competition in the commercial ev space is already pulling up. Green power motors, ev star, in hot pursuit. Besides its mini bus, the zero i missions ev manufacturer is offering a school bus known as the beast. Green power is publiclytraded, right now it is completely turned around, it is up 7. 8 after end opening lower. The company did report Second Quarter earnings with revenue coming in at 2. 8 million. So its small but its growing. And you now youve got to watch out for those upstarts. Gpf listed on the nasdaq at the end of august. Lets bring in frazier atkinson. Make your case on why any company out there thats looking for a commercial vehicle similar to what you guys make should go with you and not the fords out there . Well, first off, we were thrilled to see fords announcement yesterday validate our decision to focus on the class 4 area. Their vehicle is in the light duty class 3, were medium and heavy duty. And combined with our low capital cost structure, you know, were positioned for substantial growth for those businesses that look at the ford traffic but it doesnt offer the breadth and capabilities that our ev offers. So once again, were thrilled with their announcement. Liz okay. I cant let that just go. What breadth . What do you have that they do not . Well, weve got, our platform has three models in the passenger side and three models that are directed towards cargo, body builders, outfitters and the like. And what we have is a range that is substantially more than what theyre offering and a payload that is really at a full, medium and heavy duty commercial level. So, for example, in the mini bus were able to, were able to configure the vehicle with up to 24 passengers which is really in the middle of the category between getting a regular type of transit van and going with a much bigger heavy duty vehicle or a bus. Liz im looking at some of them right now. You have some pretty significant orders. I know abc has to ordered 200. Youve got 200 buses ordered creative bus sales, green commuter. Tell me about who youre looking at as well. I know l. A. County has made some big orders but, you know, you need to scale up. Are you prepared if the orders really start flowing in . Well, weve announced this week to our shareholders that we, since that listing on nasdaq, we had already commenced increasing our production at the rate of 20 a month and 5 school buses a month. And this morning we announced an order of 6 with buses with a scl district in northern california, and we believe its just the tip of the iceberg in a sector that we see it being a really, really strong sector next year. So were building up capacity and coupled with bidens web site where me, on his web site he states that he would like to see as a goal the conversion of all 500,000 school buses in the United States to zero emission by 2030. So at that pace, well certainly need to revisit our production schedule to increase to accommodate that kind of demand. Liz well, would you be opposed or open to maybe a bigger name who helps you get there . I mean, obviously, we know that gm certainly has its partnership, and were looking at a lot of names that are in there at the moment whether its tesla looking to do big trucks, we know that theres some other names out there, nio, of course, we already talked about their electric stuff. Talk to me about whether you would consider a partnership or whether you even need it. Well, at this stage with the funding that we received on nasdaq, we can operate without going back to the market for an extended period of time with a multiple of revenue in terms of where were operating now. And as you noted in our last quarter, it, you know, our revenue is just starting in terms of where we are with our business model. But in terms of partnering up, were in a great spot. You know, weve chosen the class 4 for the ev star, the school bus, we also have a number of transit that gives us an opportunity to pursue product opportunities in those categories. So weve got a really broad catalog of products, and we can build up the business with that product catalog. Liz well, or its fascinating to watch everybody jumping in and trying to create the best. Thats what americas all about. We wish green power the best of luck and thank you so much, phraser. Please come back again. Wed love to follow this story, believe me. Were big on the electric vehicle craze at the moment, and we want to see how it progresses. Thank you. Thanks for having us on your show. Liz all right. Ipo yeah, thank you. Ipo buzz. How one world leader personally shut down what was to be the worlds biggest ipo of the year. And kodiak cakes. Have you guys had their pancakes . How about their power waffles . Shares, youve got to hear how the ceo, joe clark, how he boot strapped his company from nothing, right . He actually dragged it when he was 8 years old, sold them in his little redding wagon and eventually grew up and built them, theyre ever where, target, you name it. Hes my latest everyone talks to liz podcast guest. Its really inspiring because it took him so many years to find sweet success. Dont forget to subscribe and rate. Closing bell, i do want to let you guys know the dow is now on track for a record close, up 468 on this friday the 13th. Weve got 15 minutes to go before we hear that closing bell. Stay tuned. Charlie gasparino up next. 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. This is the feeling of total protection now that we protect your identity, and mobile phone, as well as auto home and life youve never been in better hands allstate click or call for a quote today liz food delivery giant doordash has nabbed quite the appropriate Ticker Symbol as it sprints toward going public. The san franciscobased company filed it paperwork with the sec and said it has made about 1. 9 billion in revenue this year from its 18 million customers and will trade on the New York Stock Exchange under the Ticker Symbol dash. Perfect. It was available. And if you want a dating app stock, bumble just swipedded closer to its ipo. Reports say the dating site where women get to make the fist move is working with golden and citi and could go public, bmbl is also available. Bumble. So, you know, liz says. But ant group, the fintech founded bilally babas by Alibabas Jack Ma just got bad news. Chinese president xi jinping is the one who personally ordered a halt to the ipo on both the hong kong and shanghai stock markets of after ma gave a speech critical of Chinese Government regulations. This is part of the spinoff from alibaba, so baba shares are down about 1. 5 , down about 14 for the week. All right, markets may not show it, but corporate ceos are really fretting about the already chaotic transition to a soon to be biden administration. To Charlie Gasparino on exclusive details on conversations top executives are having behind closed doors. Why do they think its chaotic, charlie . Jeff siden fed, our friend the yale professor, smart guy, management guru, did a round table recently with some Corporate Executives about the election and the aftermath, the fact that President Trump has yet to concealed. It was an interesting conversation according to sodden fed who was interviewed by my producer, lydia moynihan. And this is the upshot, instead of talking, spending all day talking to ceos, theres a onesource shopping here. If you talk to jeff, he has the ear of every major ceo in Corporate America from his perch at yale and the school of management. Essentially, theyre saying, listen, trump may be kind of a sore loser here. This is what theyre saying, im not saying i agree with this, he may not want to concede. The fact that hes still in office and not conceding is not the problem. The real problem is cheerily from a national clearly from a National Security standpoint and maybe ultimately from an economic standpoint, if joe biden whos going to be president no matter what are recount challenges you have, hes going to be president , he needs to be briefed on National Security concerns and Economic Issues from the white house. And the fact that he doesnt have that briefing just yet is hurting, it could really hurt a smooth transition when he takes office in january. At least thats what theyre saying. Theyre saying if this lasts much longer, if it lasts into, you know, two weeks, a month from now, you know, youre really going to have, you could have some reporters that could jeopardize the economy. Im not saying i necessarily agree with this, liz, but thats clearly the upshot from Corporate America. They really wish President Trump would start including biden on briefings so he knows what hes getting when he walks into the door, walks through, you know, sits in the white house as the president on january 20th. And for all intents and purposes, hes going to be the president. Again, im not saying i agree with that. As a matter of fact, the markets are up with all this corporate angst. Why is that . Because despite what youre hearing about rising case loads of covid, hospitals, i mean, im reading everything, it seems really bad and maybe it is, what youre getting from sophisticated traders and investors is that they believe this pandemic is coming to an end. They believe that despite all the bad news, were going to get a vaccine, weve got better treatments and that were theres loo height at the end of the tunnel. Thats theres light at the end of the tunnel. Take it for what its worth. Markets have been wrong in the past, but they are clearly pricing in that theres Something Better with the pandemic. Because that is a big economic indicator. If we can avoid, you know, lockdowns and things are coming back maybe in the winter or the early spring or even late spring, theres a big plus for the economy. And its clear from the trading and from the people i talk to, they believe this thing is going to be over, and they think these drugs are going to work, vaccines are going to work. So thats two views. The pessimistic side from the Corporate Executives about the transition and everything, optimism from investors about the pandemic coming to an end with the vaccine. Liz all right. Well, these sew owes ceos are joined by some republican senators including Chuck Grassley saying he has to be given this information because, you know, a lot of things are at stake. Charlie gasparino. We are coming right back. Will we see a record close for the s p and the russell . Maybe. 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Liz i am checking, we appear to be there if we were to close right this minute, the s p and the russell will be at alltime highs, this is President Trump will hold a rose garden News Conference at the top of the hour coming into the podium, the American Flag the first time he is maybe even taking questions in quite some time, the s p 43 the russell needs 32 to fit the historic mark, now let me get to exactly what is happening for the weekly went on this friday, we can see it looks like the dow and s p with the weekly went in the nasdaq, while we wait for the president 27 hours to the top of the Spacex Dragon resilience this happens tomorrow evening, three nasa astronauts and from a Japan Space Agency will spend six months in the space station. The ufo is worlds to offer pure play access to the industry, the cofounder in the industry, you are up 3 . What is driving this entire sector . There is a lot of optimism for the space industry. People are realizing how important and how it infects affect us. They are getting excited about lower cost of sending things into outer space and what that can do for the broader economy. Liz verging galactic is something that a lot of people have heard of, but. Start technology is a way to play this, as we look at these names, we do know that guys like jeff bezos, elon musk of spacex, and Virgin Galactic and a bigelow aerospace, my personal buddy. It is the privatization of spa space, how long do you see that as a trend is forever. Right now the big thing, space is open for business, we see nasa say that and bringing new projects, the International Space station and government showing their willingness to increase their budgets for space whether it be for the nations advancement just from a technologys standpoint interNational Security interest, we are spending on space but what we are seeing, so many technologies that are reliant upon space, 5g. Liz all right, the etf Ticker Symbol ufo, that is perfect. Thank you so much, record for the s p in the russell on this friday. Connell we are about to hear from President Trump, the first time weve heard since joe biden was projected to win the white house. The president is set to speak at the white house rose garden moments from now