You should scrappy thanksgiving travel plans, the senator who just tested positive for covid takes a stand, what does all of this mean for travel and tourism in the industry, april 11 ceo known internationally for its famed tours, equally is here on how he plans to deal with this latest blow, market is wrapping up the reek with one glittering start in particular, wait until you see what bitcoin is doing we have the dow down 135 and the s p, the nasdaq punted in the green of 12 points, breaking news, President TrumpJust Announced two actions to lower drug prices, heres the first, he will require Drug Companies to pass discounts on to patients, not middlemen, those are called rebates, the middleman are called the pharmacy benefit managers, they are used to help the Drug Companies manage the situation and act as a middleman, he wants those rebates to be passed on to medicare and met him, the price drugs are the favored nations club and the prices that americans would pay would pass the lowest price paid by developed countries, these are first world countries, same as us, why are they painless, the president says no longer we should pay the same, the president said these will save millions of dollars to blake burman who joined us now, he did not take questions. No questions, this fits in with what we seen from the president since losing the election in the last couple weeks, the president i dont believe is taking questions from the media since then, the announcement from coming inside the white house at the briefing with the president announcing the two actions that you went through, the president was talking a lot or at least in points about pharma and big pharma and where he believes they stand, the pharmaceutical industry believes getting out and eliminating the rebates in the middlemen is going to be a good thing for part d of medicare beneficiary. They believe that is a good thing, what they take issue is the other role most favored nation, nations as you spell a walkthrough with big pharma, it does not agree with and its something they have been pushing back on for a while. One thing that President Trump suggested during this, he did so on a couple of different occasions, i want to listen here, related to the covid19 vaccine candidates that we have seen come online in the recent days or about to come online. The president suggested, because of the most favored nations role in lowering drug prices that hes been working on, the president believes that the vaccine was withheld until after the election because of it. Listen though this. Pfizer and others decided not to assess the results of their vaccine, and other words not come out with the vaccine until just after the election, thats because what i did with nations and other elements. There is no evidence that the Drug Companies withheld these vaccines in the information in the results until after the election to harm or potentially harm President Trump but its something he reiterated on several occasions this afternoon from the briefing room. Liz thank you very much, what you see on the screen is the vaccine makers, if you look at the big pharmaceutical names, they are actually doing pretty well in the ats that covered them are mostly green, what is going on here, we welcome an analyst who says this plan that the president announced is doa dead on arrival, healthcare policy analyst along with her trader scott bauer, what is going on, you are looking at the legal ramifications and you say theres been a misstep, couple of months ago from on behalf of the administration that will make with the president Just Announced nolan boyd. The administration had four years to get this implemented if they wanted to advance drug pricing and what youre seeing is trying to rush it through, they made an announcement back in july in 2019 saying it had been withdrawn and posted on a government website saying it all been withdrawn, with the ministry to procedures, they are claiming they publicly said it was withdrawn technically they did not post in the federal register, why the general public may have thought this was over and they are not moving forward secretly they said they were still going to move forward with it and thats with the trying to move forward with today, i very much doubt that we will see this thing become implicated in the rebate role side. Liz on the rebate side, we can put up the pbms, the pharmacy benefit managers, this is like United Health group which has optimum, they have cvs caremark and cigna is one of them, they are not even get that engine hit that hard, if you look at the other things, the favored nati nation. I am with the president on this, why is america paid more when other countries from canada to european in my repaint so much more, my elderly parents, people like that, it seems like this is been a Long Time Coming and really needs to happen, how will the stand up . When i was a policymaker working at the chief of staff on capitol hill or Deputy Assistant secretary at hhs my job is to make moral judgments and implement policy that advanced and agenda. My job now is to look at whatever the policy is and what the Market Impact could be, i think there is no question that the u. S. Pays more than other nations do for pharmaceutical prices and as part of pain from where they are contribute more to the innovation and development with the most favored nation, im still looking for the text debate, it appears the next step based on the another area of what the government website was approved and they need to go to a final rule stage before it would be implemented. I also think while getting to a goal and attempting to make sure prices are more fair is a goal in the minds of many. I think whether hhs has the Legal Authority to do that is an open question and i expect the pharmaceutical industry to sue, when they do they will probably be successful. Liz heres another problem, we saw our trader scott bauer as we look at the investment standpoint, do you get the sense that these names might be really in trouble or they always seem to escape through, do they not whether before obamacare, during obamacare, after obamacare . Are you talking to me liz . Liz scott. I think there is definitely question here, there is question whether this happens, i question if its abide in the administration or if this falls off the table. Do they always go through, like you were just discussing. Theres no question about it. If im looking at a couple of individual stocks, pharma stock, i would not go out on a limb and say this proposal right now is necessarily going to help anyone stock in particular, i would look to a johnson johnson, maybe bristolmyers theyre not the sexy stocks but they are the old Stomping Ground stocks that should do well regardless of what happened with the spear the reason i like bristolmyers especially, there forward pe is trading at 8 1 and ever since their addition last year, i think theres a lot of upside. There is a redline to this no question. Liz medicare which covers elderly and those with disabilities, medicare has never been able to negotiate directly with the big pharma names here in the United States that have been prohibited from that and therefore we looked at pricing all over the place. Price controls, do you ever see that as a future and there are republican senators who hated that, they dont want price controls, thats very antifree market, is it not . I think price controls would be antifree market, if you go back and look at pulling before the election the public trusted donald trump on drug price in the joe biden, was only area of healthcare that they had more confidence of him into advancing the agenda, lowering drug prices then now president elect biden at this point. I think we did see why the public was engaged in why the president has been pushing out and why pharma is so opposed, with regard to medicare negotiating, its important to remember that provision was inserted in the law when they were expanding coverage for individuals due to Medicare Part d program, this is the one of the very few programs when Congress Passes something the Congressional Budget Office estimates are way off, this is one of the few programs that came in under estimate, it is saving the government more money than they thought it was going to with structure with negotiations. Liz we will be watching all of this, i would simply say it is such a hard call, price controls may be kill and innovation but we saw the possibilities under our proration warp speed and President Trump gets the tip of the hat for that. Up until pfizer in moderna now, the shortest amount of time that we ever saw a vaccine come from idea to getting into peoples blood system was for years. This is under a year, we dont want to kill innovation, we dont want to do that but something has got to give. Chris meekins and scott bauer. Thank you. We are looking at the Dow Jones Industrial following 172 points, half 8 , the closing bell is ringing and 49 minutes, we have a lot we are going to tackle, charlie gasparino, Steve Perillo of italys perillo tours, he is making a big announcement and we gotta find out how hes going to handle that. Since pioneering the suv in 1935, the chevy suburban has carried many things. Nothing more important than family. Introducing the most versatile and advanced chevy suburban and tahoe ever. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. 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. By 6 million. Liz 6 million a bit quite, who is that guy if you dont recognize him, that is rapper logic and he has jumped on the bitcoin bandwagon via the video shared with 6. 000000 instagram followers, thats how the generation makes big announcement, im spending 6 million on big coin, the bandwagon closing into the weekend, its been a strong week four bitcoin, 18686 per corn up 746 alone. That is the logic of fact, the original crypto currency trading at the highest level since 2017 but we need to hit about 19 almost 20000 before you will see that record, not everybody is turning into a bitcoin believer, a good friend of the show, peter schiff telling foxbusiness. Com that bitcoin and other cryptos dont have longterm value because they have no value to store compared to other safe havens like the yellow metal. You could check out the story on foxbusiness. Com. Check this out, we just hit session lows and we are climbing lower and lower Dow Jones Industrial top of the hour down about 189, down 230 at the moment and we have the s p 500 down 19 when we started the show 17 minutes ago we were down about 12 15, we are watching this closely, a broadbased selloff often what we see during the pandemic people dont want to go into the weekend long stocked but that is if youre typing everything. A fox business alert, what retail ice age are we talking about, no retail ice age when it comes to hit sports, they are long jumping after strong quarterly result, the stock is up 2 earlier in the session of 12 , the sports retailer says brickandmortar stores betterthanexpected guidance after profits triple instore sales climbed 21 during the quarter, footlocker the stock is down 5 but they reported a 9 jump in sales betterthanexpected earnings but they warned on excess inventory country fuse over margins, we are looking at those two names protect theyre down one more time, we have the dow component, nike, the dow is down to 36, nike raising its dividends by how much, 12 , raising a 12 after predicting a sales rebound in the second half of the fiscal year which ends may 21 of next year. Were looking up nike half 8 , the sneaker giant has a little small swoosh going into the close, chinese electric technology, shares her spelling out down 18. 6 on a discounted 100 million share offering, what does that mean investors are not thrilled with the fact that that appears to dilute the shares that are on the open market, positive earnings sentiment through the week sparking low from the week from lee auto into the close, lee otto is jumping 2. 6 and fellow chinese rival neoin the green up a third of 8 , both of the stocks have been jumping. Did you guys hear about this story, the meat and poultry processor has suspended managers at the waterloo iowa pork plant after disturbing obligation to a wrongful death lawsuit of a former employee who died in april due to covid19. The family alleged that management meet members were wagering, they had a betting pool on how many workers would contract the deadly disease. Tyson is suffering, down 2. 5 . They have crisis managers on the way i am sure. Lets get to the resort open for business, one distinct differences here, the ski giant kicking off the winter season this morning but with capacity limits and advance reservations required that could put a crimp on revenues, the stock is down what and how place but since the start of the quarter we should say the stock is up with a 28 on vaccine hopes but growing covid spikes across the globe threatening the long cold winter for the travel industry. What the companys famous worldwide for italian dream vacation is now doing to break through the ice, perillo tours steeper below speaks and a fox business exclusive, the closing bell ringing in 40 minutes, 218 for the dow, much more to come. For over 30 years, lexus has been celebrating driveway moments. Heres to one more, the lexus december to remember sales event. Get 0 financing on all new 2020 and 2021 lexus models. Experience amazing at your lexus dealer. 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. I am actually webster with todays fox business brief williamssonoma, the height and cookware stock rising into the closing after posting a Digital Sales jumped 49 , the company ceo saying the Holiday Season is off to a strong start across all of its brands, the stock up 5 . Disney may be bringing more of its movies including live action remake of pinocchio directly to the streaming platform, disney has been refocusing its attention on direct to Consumer Options as the pandemic continues to wreak havoc on movie theaters. Rising coping cases forcing more cruise cancellations, the princess cruise, and seaborne lines suspended until 2021 comiccon divorce and it needs more time to meet the cdc requirements. The stock done almost 5 . Coming up next carrillo tour Steve Perillo on how he plans to navigate the ongoing travel draft into the new year, the claman countdown is coming right back. For smarter trading decisions. Fidelity. Damom, look get sare you okay . . Head home this holiday with the one you love. Visit your local mercedesbenz dealer today for exceptional lease and financing offers at the mercedesbenz winter event. But what if there was a Hidden Treasure . A prolific area,evada. Untouched for decades waiting to be rediscovered . What if one gold explorer is set to unearth the potential and transform the area into the next big nevada gold district . Corvus gold, gold rediscovered. Adapting. Innovating. Lsetting the course. But new ways of working demand a new type of network. One thats more than just fast. 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 breaking news, president elect joe biden right now meeting with House Speaker nancy pelosi and Senate Minority leader Chuck Schumer, this is willing to delaware to discuss stimulus efforts to help the u. S. Economy, this is the first inperson meeting, hold the shot, maybe there being kicked out of the room, they just got kicked out, t