That could spark an ugly storm for investors in chinese stocks. Just back from asia, undersecretary of state for economic growth, keith crock, is here live to react. He will reveal the new weapon our government is using to counter chinas fastgrowing technological might. The deadliest day of the coronavirus pandemic, now at this hour has los angeles going into full lockdown mode. We are on the ground in l. A. As businesses shutter in realtime. From College Dropout to ceo, the youngest selfmade billionaire in the world with us live on the day his tech company goes public. Discussing the risks he took that triggered his laserlike rise to the top. First, we begin with a fox business alert. The tweet heard round the stock market with billions in Coronavirus Relief at stake. House speaker Nancy Pelosis deputy chief of staff just put out this tweet in the last hour and a half that used covid relief and as soon as possible in the same sentence. The tweet confirmed that the speaker and Senate LeaderMitch Mcconnell spoke today and have a shared commitment to breaking the stimulus stalemate. The markets cheering tempered by news the house last night sent the bill to the president s desk that will kick Chinese Companies, names like nio, alibaba and more, off u. S. Stock exchanges. Basically, ban them if they dont follow u. S. Auditing rules. The Trump Administration appears to be taking kind of a scorched earth policy toward china in the final month and a half before president elect joe biden steps in. Undersecretary of state for economic growth, energy and the environment, keith crock, just returned from a trip to asia. The former ceo of docusign joins us live. Good to see you, undersecretary. The house passed the bill unanimously but the Trump Administration has led the way on blacklisting Chinese Companies for various reasons. As a former tech ceo, founder and investor now at the state department, why is this the smart way to go . You know, liz, the Chinese Companies dont have to follow the accounting rules that all the other companies follow. I mean, for a guy who has taken three companies public, i dont think thats fair but thats a personal issue. Its really about protecting the american investor. Its also about making sure that the Chinese Companies dont have unfair advantages because Financial Strategy is a core part of business strategy. And also, to preserve the Gold Standard for our stock market. So i think the line in the sand has been drawn and they should really comply. Liz i couldnt agree with you more. Im sorry, rules are rules. Look what happened to investors here in the u. S. Who invested in luckin coffee, the starbucks version in china. It was a complete disaster because they did not have transparency, there were all kinds of shenanigans going on. I think this is proactive, i think its rational. Certainly unanimously the house felt that way. Lets talk about whats happening here. You just got back from asia and a very broadbased trip to south america, where you were pushing something called the Clean Network. This has nothing to do with clean energy or anything like that. It has to do with making sure the 5g Network Globally is secure. It sounds to me like this is everyones invited except china. Am i right . So the Clean Network is an alliance of democracies that is addressing the longterm threat to data privacy, security, human rights and trusted collaboration. Its rooted in internationally accepted trust standards which are basically on democratic principles and its an enduring longterm strategy. Right now, 53 countries are on the Clean Network. And Industry Leaders from around the world from fujitsu, oracle, hp, and it represents twothirds of the global gdp. So this is not only for 5g but its also for all kinds of other areas, clean cable, clean carrier, clean cloud, and it actually can certainly be extended to clean energy and Clean Minerals and clean supply chains, clean labor practices. I think this is a really what started out as a project has really turned successful. Its turned huaweis 91 5g contracts they announced last february, most we can count is a dozen so its turned back the tide of huawei, its proved china is beatable and in the process, its exposed i think the Chinese Communist partys biggest weakness, lack of trust. Liz okay. I understand all of that and i wish we had a cyberscroll because the map didnt really show the importance of the 53 companies that are actually in the Clean Network. Albania, belgium, brazil, bulgaria, denmark, french, germany, greece, israel. In essence, it is going to give certainly u. S. Companies an advantage when it comes to rolling out 5g. But is this basically a way of saying we are shutting out china which you know, that math doesnt it shows a few countries but im telling you, you guys have some real oomph behind this with so many names. It almost feels like its a shutout of huawei which had been on track to basically dominate the 5g technology that was out there. So what do you say to people who say this is really just politics . Well, huawei is chinas only worldwide brand in the company. Its an extension of their surveillance state. Thats what they use to for all the human rights abuses. This is a tool the worst of dictators could only have dreamed of. So this is really absolutely incredibly important because on these 5g networks, its not just about smartphones, liz, it is about Power Generation systems, its about internet of things, manufacturing processes, sanitation systems, global power grids. Liz agreed. Sure. Yeah. This is absolutely critical. Liz undersecretary, i do want to ask you about tiktok before we get to your very important diplomatic visit to taiwan. On tiktok, tomorrow is the day that it is supposed to, at least its parent, chineseowned bytedance, is supposed to divest of u. S. Tiktok or else it will be incurred with lots of financial penalties. Tell me why the administration is spending so much time on this particular chinese company. I mean, thats my dog and my cat. I went on tiktok and posted them scrapping, fighting. There are so many other bigger issues, are there not . Well, liz, its more than just about tiktok and tencent. Its about data. These are other tools that china uses in terms of taking all this data in. You know, they have this great china firewall. All the data comes in but none goes out and they use it for their purposes. Everything from a social Credit System to all kinds of things. And also, you know, that great china oneway firewall is reciprocal in terms of all the propaganda goes out but the truth doesnt come in. This is incredibly symbolic, liz. Liz ill tell you whats symbolic. You just visited taiwan. You are the highest ranking state Department Official to have visited taiwan in four decades. This of course is like poking china again, because china feels its their territory. Taiwan is a democracy. It is selfruled. We support that, certainly, but this is a gutsy move on your part. How do you see this relationship moving forward . Well, i went over there to honor president li, their father of democracy. They had a Memorial Service for him and so it was a great honor. I always welcomed them of course to the Clean Network and we had an economic dialogue. Subsequent to that, they came over a week ago last friday and we signed an m. O. U. For the li Economic Prosperity partnership which is economic collaboration, all kinds of different areas from health care to 5g to semiconductors, education, all those kind of things. And if you look at taiwan, they are a role model in terms of capitalism and democracy for that reason. Actually, for the entire world. They are a great partner and a great friend to the united states. Liz undersecretary of state keith crock, thanks so much as always for joining us. We love you as a guest because you have been on both sides. You founded arriva, you ran docusign and of course now in government. Unanimously approved, mr. Crock was. Thank you so much. Good to see you. Thank you, liz. Liz one of the markets most famous short sellers throwing in the towel on tesla. The electric vehicle stock is up 4 on the heels of short seller and tesla bear jim chanos reducing his short bets. He says you know what, he has a short position, 5 of capital at his fund, but hes not the only one. He says his short position has been painful, as the stock charged higher by 600 so far this year alone. Tesla is not the only stock thats squeezed short sellers lately. Lets get to our floor show traders. Andrew smith and phil flynn. Andrew, many stocks completely defied the odds of horrible headlines all throughout the last nine months of the pandemic so short sellers have been squeezed. What are you seeing in the short space . Thats exactly right. Its been a capitulation of shorts as of late. In fact, one of Goldman Sachs data points over the last 20 years shows it is a low record level set for the amount of Short Interest as a percentage of flow for the s p 500. Its not just the overall index. We have seen the gig sectors, all of them except for energy have hit these record lows in the amount of Short Interest. So its really across the board, short sellers had a hard time, especially with the fed liquidity injections that have really sent this market higher. Everyone is throwing in the towel and saying we will take the other side and close the short book. Its definitely manifest within the market. Energy is the only one that has not caught up to that trade. Liz oh, phil, timing is an interesting thing, though. When everybody starts throwing in the towel on one trade, doesnt it make you wonder if within the next few weeks or so, something bad might happen . I dont know. What have you seen . Are you seeing any flows of short sales, people betting against a certain stock, basically throwing their hands up and saying im out, im getting squeezed . This has been the most hated bull market in history, lets face it. You and i have been talking about this for a long time. This market continues to defy the negative expectations because things overall continue to do very well. We have had this accommodative environment. The shorts dont usually give up. They continue to keep getting their heads handed to them the last couple years. Its good to see a little of that capitulation because if they keep going that way, they will be in big trouble. Its amazing how many stocks are really hated this month. Some of the top stocks that got shorted this month, best buy, believe it or not, the other one of course is advanced micro devices, beyond meat. To be honest with you, i want to short sell beyond meat, to be honest with you. I think thats overdone right now. It got a big bounce today because theyre selling meatballs at costco. Yay. Im still not a big believer, at least not at these price levels. I think thats due to come back. The other one thats really been short sell a lot this month has been advanced micro devices. This has been a company that has had a few challenges but i think they are going to do very very well in the new year. So look at that. Facebook has been really beat up as well. Lot of short sellers got beat up on that. Holiday season, you dont usually want to be short facebook going into the holidays when ad sales usually rise. Liz people who are trying to short the airlines, delta is up 5 today. Its a tough, tough market to guess. Good to see you both. Andrew, phil, thank you very much. We do have the dow chopping up to session highs here, at least getting closer. Up 181. The city of angels on lockdown but could the entire golden state be next in line for a shutdown . We will take you live to los angeles on the Economic Impact already being felt from the latest rounds of covid restrictions. The closing bell rings in 45 minutes. We are on track for an s p and a nasdaq record. Youre watching the claman countdown. Stay with us. New projects means new project managers. You need to hire. 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. 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Now temperature balancing, so you can sleep Better Together can it help keep me asleep . Absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. Can it help with snoring . Ive never heard snoring. Exactly. No problem. And done. So you can really promise better sleep . Not promise. Prove its our cyber week special, save up to 1,000 on the new sleep number 360 smart bed and adjustable base. Plus, 0 interest for 36 months. Ends monday. Liz yes, we have been telling you while three separate covid vaccines appear to be just out there on the horizon, the u. S. Just experienced its deadliest day fighting the pandemic. More than 2,800 deaths were reported in the u. S. On wednesday. U. S. Hospitals bursting at the seams with 126,000 patients, also the highest during any given day on the pandemic. This as los angeles has ordered residents to stay at home with mayor Eric Garcetti saying the city is approaching a quote, devastating Tipping Point that could overwhelm the hospitals. Fox news william la jeunesse is in los angeles. This has got to be a instrumentiblow for struggling businesses. Reporter it definitely is and there is a growing backlash against what many see as unsupported evidence to these very hard lockdown rules and very strict rules. Unlike back in march, when people pretty much accepted it, now people are not. They are asking for the hard evidence. People are fighting for their lives and demanding data. So far, california, and i know l. A. County, has not provided that. Parents are out playing with their kids in closed parks and playing kickball without masks. Diners are fuming over rules that allow massage, hair and tattoo parlors to stay open but are closed to Indoor Dining. Yesterday we learned l. A. County used Indoor Dining transmission rates to close outdoor dining. Only 4 of cases have to do with dining at all. Last night, mayor Eric Garcetti issued a stayathome order. No walking with others, no hanging out with anyone outside your family. Its time to hunker down. Its time to cancel everything. And if it isnt essential, dont do it. Dont meet up with others outside your household. Dont host a gathering. Dont attend a gathering. Reporter facing a shortage of hospital beds and overflowing icus, Governor Newsom is today expected to require all nonessential workers to stay home in those counties where icus are more than 85 full. We know that Santa Clara County and potentially a few others in northern california. But definitely people are sensitive right now to any of these broad lockdowns. Thats something i think the governor knows and is going to be very a little bit more circumspect if you will about having a blanket shutdown, especially as christmas approaches and you know better than most, businesses need to make their money, retail does, anyway, in this 30day period. Back to you. Liz yeah. Absolutely. Absolutely. And being from los angeles myself, i just feel for those restaurants who scrambled to put out sidewalk tables and warmers, et cetera. I really feel for those business owners. Not to mention, of course, the victims of the coronavirus. William la jeunesse, thank you very much. Live from los angeles. Cruise line cancellations are actually getting canceled out by vaccine hopes, despite extending suspensions of multiple voyages in just the past 48 hours. Look at carnival and Norwegian Cruise Line stocks. They are among the s ps biggest winners right now. Carnival up 9. 5 . Norwegian up 9. 66 . Royal caribbean also up, despite additional cruise cancellations. Its seeing a 5 gain. From the seas to the skies. Weve got your first class view of the 737 maxs return to the skies. Our own intrepid Grady Trimble, there he is boarding the Maiden Voyage of the controversial rejiggered boeing jet. Hes going to take you along and describe that experience when the closing bell rings in about 38 minutes. Stocks at session highs. Look at the dow, up 222 points. Well be right back. My dvt blood clot. Stayed on my mind. Was another around the corner . Or could it be a different story . I wanted to help protect myself. My doctor recommended eliquis. Eliquis is proven to treat and help prevent another dvt or pe blood clot. Almost 98 percent of patients on eliquis didnt experience another. And eliquis has significantly less major blee