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tv   The Claman Countdown  FOX Business  December 4, 2020 3:00pm-4:00pm EST

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the reason people are picking it, great to see you, have a great weekend. let's look at the markets, they are all up again, were in record territory all over the place and nobody handles a record like liz claman, liz claman are you there? we came a little early to you. liz: especially a 45 record, david knows, he and i go way back. david: we do. liz: those are the little records that we used to play on vinyl. we have cut it, let's try again as we head into the final hour of the trade, the dow, the s&p, nasdaq and the transports are all set for record closes in this hour but we sell nearly this exact scenario 24 hours ago before latebreaking pfizer headlines scared the bull off. but that pfizer report would have to scale back in the distribution has been clarified after the breaking development
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on a covered relief package, is congress truly ready to drop the politics and throw the financial lifeline to millions of americans, peter navarro is about to join me live from the white house the president's top trade advisor helplessly demanding more from billions and coronavirus aid to form what he calls a physical bridge between the terrifying covid spike were seen today and widespread vaccine distribution, why he's breaking with cop senators who are resisting the relief package. how do salesforce is $28 billion acquisition of work from home darling slack really go down, slack cofounder and ceo stuart butterfield who grew up in a cabin with no running water in canada. what a story, he will take us inside the room to tell us how he got a price for his work from anywhere in prior that has some on wall street raising eyebrows but not salesforce. we begin with the fox business
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alert, could we be days away from a covid relief bill, house speaker nancy pelosi holding a news conference a couple of hours ago to say there is momentum on capitol hill to pass one which both democrats and republicans might be able to live with. >> we feel excited about the prospect that there is a bipartisan, i told members i'm not bringing any more bills that are not bipartisan, it's not everything that we want, don't get me wrong, i don't want the republicans to think that this is a dream come true, it is not, it is a path forward though. liz: the big myths and the jobs report underscores the urgency of such a package as a labor picture is darkening again for american workers, georgia 65000 jobs added in november, that is badly with the 469,000 estimate. peter navarro is president trump's top trade and manufacturing advisor, he is
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joining life from the white house lawn, the new op-ed in the wall street journal urgently makes the case for fact passage of the generous package targeted to small business and the most vulnerable americans, peter navarro stressed the u.s. faces significant headwinds from the pandemic which is restructured transportation, entertainment, hotels, restaurants and commercial real estate adding to the structural lows is the prospect of renewed lockdowns across the 50 states. welcome, is the 908 billion-dollar pipe artisan stimulus bill circulated right now on the hills, strong enough to provide the lifeline you envision? >> here's what i'm concerned about, were about two months late and a trillion dollar short to help millions of americans avoid the pain-and-suffering they are feeling now and unfortunately the relief bill got caught up in politics, i
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think it was pretty clear the democrats did not want anything to help president trump but now were facing as what i see a chasm, i did not love that report today on unemployment, we clearly see what i refer to as a second derivative problem, we had the trends going up in terms of being positive for the employment rate and things like that but clearly at a decreasing rate that is a second derivative and what were gonna see fairly quickly right now is the flip over where unemployment rate is going to stop and start going back up and if you combine, this is important if you combine the number of people who dropped out of the labor force with those in the count for the 6% number we actually saw a slight uptick in the unemployment rate. my message to capitol hill, get your act together, get it done and get it done quickly, the three components are pretty
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clear, we need a reboot on the ppp program for the small businesses, that was extremely effective as a document in the op-ed, i think we need another stimulus check and also we need a reboot of our unemployment compensation, we can't go back to that $600 all one-size-fits-all state but we need to calibrate in a way which would provide relief, we need to move. liz: you just had a trillion dollars short, i've got to ask you, you are going against what some gop senator said back in october, they suddenly decided they did not have an appetite for a big package i'm talking about mike lee of utah, marsha blackburn and johnson and lamar alexander speaking out against this, you are basically pushing back from gop senators and breaking with them and saying we
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actually do need this money. >> i'm just a macro guy looking at the chessboard and when i say a trillion short i mean an additional trillion, there was a debate between the republicans they were ready to go for a 1 trillion-dollar package, they had that on the table and pelosi wanted 3 trillion, what i'm saying at a minimum we need those three parts of the puzzle and that probably gets us to the $900 sextillion that is on the table, the point is, we need the physical bridge, we have the vaccines coming thank you to donald j trump coming in the spring in full force but now, it is likely got understand there's only service sector refugees, this economy is structurally changed, the old days of
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restaurant, entertainment, major metropolitan areas that is not coming back for a while. liz: i picked apart the unemployment and the jobs numb number, retail lost 35000 jobs because of less seasonal hiring, i know restaurants as we know in california that they're banning in some cities that outdoor restaurants, the eating opportunities, i'm very worried as you are, my question is if you have mitch mcconnell's ear and quite frankly don't denigrate yourself, the picture is extraordinarily important, what would you say to him. >> it's not about mitch or nancy it's about capitol hill, those folks need to look at the chessboard, read the op-ed in journal that tyler bixby and i wrote yesterday, and lays the problem out in the solution out and all i'm saying, we should have done this months ago and
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the longer that we wait we run a really strong risk of having this economy not in a place where we want to be, the market is doing great but let's think about, were in a bullish uptrend, bad news comes out on the appointment numbers, a lot of the guys you're thinking, that means a profitability, the stimulus goes up so the market goes up, this is the difference between wall street and main street, i'm telling you the people on main street, there is a lot of pain-and-suffering and president trump noses very well and what we need to d do well aa country is to move to phase four and take care of the american people right now and be cognizant of the chessboard where were seen the structural adjustments and they could be persistent and they could be permanent. liz: you said on this network that you were operating on the
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premise that there would be a second term for president trump as all of these challenges to the election outcome that had joe biden winning, your operating on the fact that will have a second term with president trump, since then close to 50 different lawsuits have been filed on either the trump campaign or allies to president trump and many of them have been outright rejected and in some cases like judges who president trump had actually appointed these are federalist, republicans, conservative et cetera, does anything change three weeks later, have you spoken with the transition team as you and the white house behind you are in a way ready to move on? >> i have nothing to do with the transition and i've not been asked on that, what i think is important over the next 7 - 14 days is to let the legal process play out, everything that i am seen tells me that this election
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was stolen, everything i'm seen across six states. liz: why does just does not see that, more than 24 judges do not see that. >> let's take the wisconsin case for example, the only thing that happened in wisconsin was back to a district court, it will come back to them and they will decide, what i would tell you looking across this electoral issue, your strong issues of voter fraud, there are more suitcases down where they were counting ballots than the atlanta airport, you saw the video, that video in itself should just blow out in the idea that georgia election was fair. your fraud issues, you have valid process issues where an
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adequate voter id checks, yup all manner of process files going on in places like wisconsin where they change the mailing ballot. liz: we can't litigated here but i wanted to clarify you don't have the boxes ready -- >> this is the immaculate deception on the american people, it's been called the finesse but i think what is important, let's let the process play out, everybody in america needs to be comfortable with the idea that this election was fair and right now we don't have that comfort level based on what the evidence is, let it play out the problem is we didn't have the news from the new york times, the washington post or shading the truth of what's actually going on.
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liz: fox news has given some news that isn't exactly friendly to what president trump has happen but we want to make sur sure -- i agree that were letting the process go through, we will have you back, thank you so much everybody should check out peter in the wall street journal saying stimulus now, fox business alert have to show you game stocks shares, this was a $2 stoc$2 back in april, game ss moving higher after they doubled the price target on the videogame retailer to $16, is already above that now, $16.75, it's a sweet spot from upgrades from microsoft and some pushing this company higher. warner bros. smashing theatrical windows, the at&t own studio had already announced a wonder woman 1984 would release on hbo max as well as in theaters christmas day but now in a historic move for the entertainment industry warner says there will be no theatrical window at all for the
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entire 2021 slate of 17 films including matrix for in the suicide squad, they will all be simultaneously released on hbo max and in theaters. movie theater stocks plummeting on the news yesterday and today we have a mixed picture, cinemark up 7%, imax better by 4% and amc down 4%. investors ready to sign on the dotted line with docusign shares after the e-signature company beat quarterly numbers on both the top and bottom line, docusign jumping at third% and rbc capital raising the price target to $325, doc you at $243.48 is up stupendous 230% year to date. talk about a pot stock, stock shares nearly doubling in 2020 but how did ceo stewart
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butterfield get software giant salesforce to throw down a more than 50% premium on the messaging platform just a week and half ago, he's going to tell us in just a few minutes right here on "the claman countdown". forget the painful nasal swabs as were about to show you the new device that could make testing for coping as easy as breathing, the closing bell ringing and 37 minutes, up 178, "the claman countdown" is coming right back. ♪ a must in your medicine cabinet! less sick days! cold coming on? zicam® is clinically proven to shorten colds!
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liz: we wanted to get you clarification on the pfizer story that broken this hour yesterday forcing the stock selloff that accelerated in the bottom minutes of trade. the trigger was a wall street journal report that pfizer slashing the rollout target to 15 million due to supply chain obstacles, we were up 222-point you can see this is from yesterday, the big board totally selling off and going negative
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for a few moments, it turns out pfizer had reported the exact number of vaccine doses last month, 50 million this year end up to 1.3 billion doses in 2021 shares of pfizer right now are flat on the session up slightly from bio and tech up three quarters of percent compared to moderna with a different vaccine is down 3%. as a public weight 213,000 new covid cases were reported across the u.s. yesterday that is the highest figure for a day yet, as testing lines around the nation, grady trimble is live in texas where one company is looking to get a new test approved that eliminates the nasal swab in the saliva test. what is it? >> if you have not had the naval swab test, you probably know how uncomfortable it is from other people tell you.
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this could limit that, it's a breathalyzer, the me show you how it works, a plastic straw that worked with paper straws, i'll take my mask down for this, you blow into it for about five seconds. now it has a sample of my breath and this is a working prototype so the data is analyzing is in the cloud but the goal is to get it where they can send you an alert directly to your phone and you'll know almost instantly whether you have covid or not this is developed from world inc. out of dallas but within partnership with texas a&m and the u.s. air force. rob is with texas a&m and where you come in your trying to scale up production of this product so we can get this all over the country, what does that entail? >> three things, were here at the campus, the texas a&m with scaling and bridging with commercial entity and great engineering researcher prototype like you see behind you. the second is to use agile
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design and manufacturing to reiterate on ultimately getting formed fit and function to turn into a commercial reality and to assess the broader supply chain across the united states to make sure there's no break in productivity. >> if you can get this to mass production, where can we see this device? >> we want to see them in schools, hospitals, churches, hospitals, we want to make sure we can get people back with interacting with one another. >> this would not require long wait times when she'd taken a test with results provided almost instantly you can get them right away and it doesn't take long to do, you could put it in front of a concert venue and have everybody do it as they go when, so far the results that have common still as i mentioned a prototype but it seems to be pretty accurate comparable to the pcr test and the company world inc. is working with the fda to try to get emergency use authorization to get this rolled out all across the country and i know a lot of people have had the nasal swab would be very
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glad about that. liz: just don't roll it up in front of a grateful dead concert they may be blowing something else in there. [laughter] i would say it's very welcome news and thanks to texas a&m, good for the universities with coming up with the new ideas just when we need them the most. the world's youngest self-made billionaire adding to his wealth one day after sharing his with "the claman countdown" on the second day of significant gains after its public debut with the closing bell growing in 38 minutes, will tell you when we return. ♪
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liz: breaking news, president-elect joe biden is speaking right now not only about the november jobs report
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which he called grim but in wilmington, delaware he is making news by saying he is very much encouraged by what we talked about with peter navarro, the bipartisan discussion around the $908 billion stimulus plan, he did say he's been speaking with average americans and everyone from school crossing guards and he quoted his father by saying after losing his job i don't expect government to solve my problems but i do expect government to understand my problems, he did say americans are not asking for a handout but they do desperately need help so he's calling on the federal government to step up and pass the stimulus bill. the streets youngest ever billionaire austin russell joined us here yesterday he celebrated his company's market debut by slam ducking the nasdaq opening bell in the party is not over yet for the maker of the
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thomas driving sensors and that guy, the stanford dropout who turned ceo and told us yesterday it was the best movie ever made apparently investors feel that way, the stock is up another 33%, laser reading through a second straight day of gains, investors and press by the debut and of course by the leader, three or four months into his freshman year stanford, austin quit and worked with peter to create lumen r. just a year end a half ago slack was in exactly the same place working its way onto wall street as a publicly debut company and now it's been snuffed up by salesforce for $27.7 billion in just a few minutes stuart butterfield joins us to take you inside the megadeal and hill revealed what a butterfield team plans to do. in the meantime and energy
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stocks are big winners, lauren simonetti to drill down on one name. >> happy friday, were talking about chevron pushing its way to the dow 30 leaderboard and a cutback in capital spending plan for 2021 and an agreement by opec's to keep supply curves in place january fueling shares of 3% as we head into the close, curb on a getting the dreamlike as the initiate shares an analyst predicting a potential 100% gain for the stock as market share gains continue at current historic paces, look at the stock up five and three quarters percent, not looking so pretty, shares falling after the retailer reported slower online sales and comparable sales could see a drop off in the holiday quarter, also cautioning that
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crushers could spill over into fiscal 2021, up next lacks cofounder and ceo stuart butterfield joining forces with mark benioff, he joins "the claman countdown" fresh off the huge announcement. workflow it...? just picture it... with the now platform, we'll have the company you always imagined. efficient, productive, seamless. ok, i'm in! whatever your business is facing... let's workflow it. servicenow. that's why we've merged with sprint.get more. now it's about to get even better. and as we work to integrate sprint's network, our nationwide 5g keeps getting stronger. with the capacity and coverage to reach more people
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you've reminded us that no matter what, we can always find a way to bounce forward. so thank you, to our customers and to businesses everywhere, from all of us at comcast business. liz: this week the biggest deal to hit silicon valley this year was confirmed, salesforce ceo mark benioff snapping slack for $27.7 billion. the pandemic is really propelled slack to the forefront from the work anywhere as they flooded from the office into their homes and wherever they went to quarantines but what is the
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secret plan salesforce and slack to dominate the space, the cofounder stuart butterfield fresh off the big announcement joins us here on "the claman countdown", first of all congratulations. i'm dying to know how this went down when you got the first call and what did he say to you? >> thank you so much and it toys great to be here and nice to see you. , a lot of this was brent taylor who i've known for many years, the ceo and president of salesforce and half of the company or so, we go way back to the early days and i had a number of interesting conversations and i get a fair number of text messages with him and the future platforms of businesses and i feel like written a moment, i think slack is great and i think salesforce is great, i think were in a
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moment of industry where there's a tremendous amount of changing like windows 95 or the first of the cloud or developing the smart phones and there's really interesting opportunities, we just came off our last quarter, or quarter, there quarter, the acquisition but we come up 140% growth and you pay customers, they met a phenomenal quarter but we look at this as strength on strength and thinking about the next ten years and what we will be able to come push together. liz: at some point you have to talk t to benioff and at one pot he said here's the price and you said i need to see it a little higher, this is a 27.7 billion every dollar deal for salesfor salesforce. >> i think is the second-biggest in software. the interesting thing, the whole
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tiktok is published in our proxy statements filed with sec so there's a lot of back-and-forth, went over a period of time so obviously the prices are disappearing and an important factor but it sounds silly, it's a little cheesy what we talked about how do we create one plus one equals seven, it's very easy to say were a software product, they have a lot of salespeople, of course we do that as well but what opportunities are there for nonlinear impact or dictate things in a new direction and that's where a lot of the excitement came in a lot of my desire to keep going as ceo of slack. liz: you will be staying on but when you talk about where you can take this and then what direction, we say slack at fox because we use slack and we absolutely love it but i don't know if anybody says we love
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team me, this is the big big, big competitor. i know you've resold and you don't want to talk about that but let's discuss how you overtake the competition out there with the backing with salesforce having a shoulder behind you guys, what will that look like. >> i think obviously they will help a lot, as far as entertainment and television to make people happy. but we have no problems, i think something got lost and it's really frustrating because i haven't been able to articulate this in a way but the leaders of slack, you mentioned fox, the biggest media and retailer number one in apparel, the large issue of credit cards, biggest consumer electronics and there is depth to that as well, four of the six biggest north america, seven of the big media companies, there's so much, two
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thirds of the fortune 100, three of the five biggest american companies, i'm just talking about the u.s., we have a very strong business in japan and europe as well and obviously dominant in tech and in software but i think people don't understand how much deeper into the enterprise and how many different industries. liz: you are living success story, you grew up in canada, the first couple years of your life with a log cabin and no running water, my mom grew up in a house with earthen floors but somebody your age, how do you go from that to having the curiosity and the ability to launch a company like slack and slicker, all these other names. >> thank you, i think i got really lucky and i was at the right place and the right time, i was born in 1973, the log cabin thing is absolutely true i moved away when i was five so i
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can go to regular school but i started college in 1992 and the birth of the internet before the web was there when it started and had an intense curiosity and everything a bribe done over the last 20 years, 30 years has been at this intersection of people and network, how to use computing technology to facilitate interim interaction, can be work, gain, creativity, were seen a lot of the unfold and it's really gratifying everything that people are able to do. liz: any concern at all, facebook had ten offers as it was growing as a company and i believe microsoft offered more than $22 billion at one stage and mark zuckerberg kept saying no, no, no. you said yes, why go with
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salesforce instead of continuing to grow this. >> is a great question and it's a difficult decision to make and it's very emotional and i'm one of the cofounders and the ceo and identify but the heart of it is, i feel like together we can accomplish in the next five years that would've taken us 20, and very ambitious, competitive and i want to win and this is a path that has an enormous impact in a timeline that would've been difficult if we were independent. it's never in easy choice but i mindful of the impact wit that s on our shareholders, customers and employees and i think this is the best course for the company. liz: i love the story and congratulations. please come back as you continue to take on the world with salesforce stewart butterfield cofounder and ceo of slack. we are coming right back.
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♪ liberty. liberty. liberty. liberty. ♪ liz: rules for the but not for me, the financial institution rules for america and europe but not for the rest of the world, charlie gasparino has more details on selective diversity mandates, what are we talking about here? >> we've been onto story since nasdaq pretty extensive new diversity guidelines, i read the entire 271 page proposal and i suggest people should do that to see the breath of what they're saying and what you find in nasdaq and find it increasingly across corporate america that these diversity guidelines have tons of loopholes, nasdaq has guidelines for u.s. companies to put in minorities women,
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transgender people, two of those people know selective classes on a board or face, it's possible delisting, it's mostly about disclosure but they need that as a possibly but then they allow chinese companies to do whatever they want and china as you know one of the more repressive regimes, i've asked other corporations with a big splash in this regard what are your guidelines and where do they hold up in here is some of the stuff that i found, goldman sachs has ipos, you should have diverse members on boards of companies that they will bring public, they said they will not underwrite companies for those applications, however, those guidelines only work in europe and the u.s. even though asia is a huge place for ipos, doesn't
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apply to china, again it's like why are you not allowing the huge part of the world where discrimination obviously exist if you know anything about china to why don't you extend your guidelines there, goldman has no comment on that other to confirm it does not it then to asia and china. blackrock is interesting, led by larry fink, a lot of executives went to the bite in the administration of very woke firm for a corporation if you look at all the stuff that larry fink has been doing in the social investing area led by brian who is going to go to the bite in the administration, the very woke i looked at the corporate guidelines of what they might investing, they confirm there is rules that what they invested should have two women or minorities on the board but is
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not a hard and fast rule and for most of their investments and probably does not apply because they have tons of etf's and passive investing vehicles, it's hard for them to pose that other than to say they would like that to happen. again you're gonna be see a lot of the diversity guidelines now that nasdaq has but that front and center in the incoming abiding administration will push some of this and i suggest people redefine. on these things, there is a lot to be desired in them in the goldman and blackrock examples and some of the stuff in the nasdaq proposal are exhibit a of why these things aren't as great as their being touted. back to you. liz: thank you very much, things are changing, we watched the landscape change and we see what happens. up next buying fox, why today's countdown closer says the growth is in the rise of the robot. robot stocks, were talking about
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that when the closing bell rings in about 11 minutes. were coming back the dow increasing up 210 points, that's about session highs if my math is correct. stay tuned. ♪ in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity.
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liz: the closing bell ringing in just over seven minutes, we are closing in five, five major index records, the dow, s&p, nasdaq, russell 2000 and the transports are about to close the week at record high, where do we see this, records here and there but all five, for the week, the dow and s&p 500 are looking at the second straight week of gains while the nasdaq looks like it's three in a row, not bad. check the dow up to 17, session highs again at 232, lawrence in a muddy for some of the biggest movers of the week, an
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interesting week. >> it's been an interesting week, the best performer today and this week is walgreens, it launched walgreens advertising group with brands, custom audiences and delivering the covid-19 vaccine to nursing homes, today about the highest close in a month if it closes a little bit above this level, stocks down 27% this year, take a look at intel, up nearly 10%, entire nine days in a row and then boeing, ryanair is buying more of the ground at 737 plane and we got really promising comments from dave calhoun, he is confident that your travel will recover faster, let me show you the red, salesforce, despite the megadeal you were just talking about with slack to take on microsoft, that is down 9%,
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that bill is expensive, home depot a loser but up more than 20% on the year, mcdonald's a loser this week, let's show you the nasdaq, maduro solid vaccine result, they put out data showing immunity last for more months than expected, that is good news and the stock is a winner this year end this week of 20%. you have micron, let's go to the losers, micron and spawned guard in the loser column, they are down sharply, the issue is weak earnings, weak outlook zoomer with zoom, you can't feel bad resumed their pandemic winner but the tremendous growth rate that we got accustomed to, that cannot continue forever, this week there down in net eases down as well, back to you. liz: i'll take it, i hear a little one in the background.
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>> a little distracted today. liz: just a bit, that's called working from home, thank you very much. >> there's actually two of them. liz: your amazing, thank you. major averages are shrugging off the economic data we got today in the form of the november jobs report which is a significant missed but the countdown closer says it's all about pro-growth like industrial automation, also known as robotics as we move into 2021. mark is with us right now, 90 billion in assets under management, you're looking at the names that facilitate robotics at different companies, why, what is >> well, liz, a couple of things. one i understand lying, of course, is the sector itself. we believe industrials are poised to stand to benefit from the synchronized global
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reacceleration that we forecast for 2021 on the back of continued growth, the vaccinations and so on that allow for a global reopening and more business activity in general. but then on top of that, business automation. technology associated with healthy world class, multi-national companies continue to expound upon not only their overall revenues, but as well as improve their margins and productivity by tools that allow them to work in an awe a on the mouse or -- autonomous or artificial intelligence way. caterpillar is operating gigantic earth-moving machines deep in the mines around the world while at the same time the operator is poised at a distance away, moving them around as if they were tinker toys. same could be said for deere to allow more automated farming activity to occur without necessarily having to have a driver be hind the wheel moving through fields of corn, what
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have you. all these tools, i think, are going to be continually embraced as they look for ways to drive profitability, margin expansion or margin retention. liz: what do you look for specifically e? you know, when you're hooking for real bets for 2021, just around the corner, do you have a list of must-haves each time you pick a stock or a sector? >> well, we do, liz. you know, obviously, we can't forgo the prospect of what was working before the pan dellic -- pandemic. some of the shut orer in place stocks that stood to benefit in es-commerce or e-retailing, we've only seen a spike-up in activity as more consumer spending gets moved to online sales as opposed to foot traffic in the mall. that was going to take place anyway, it's just, again, a denith function in terms of -- depth function in terms of the related growth. those companies will still stand
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to benefit, an etf called i-buy would be an example comprised of companies that would benefit from that. think about also -- liz: i-buy. >> correct. liz: sure, sure. yeah. >> large multi-nationals that are investing in their future. so there's a couple of lawyers that we look for that are going to transcend the pandemic and benefit from not only a better economic climate, but one that has long runway demographically. liz: transcend the pandemic. that is certainly fascinating. but the markets have transcended so much bad news. mark, we've got about 30 seconds. [laughter] we are on track for five indexes. the big majors all closing at record highs. do you take any money off the table? >> liz, i think only if i was a trader, would i consider taking money off the table. there are plenty of reasons to think perhaps it come a little
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too far, too fast, so so we're poised to see some kind of pullback. but for medium to longer of term investors, the short answer is, no, we're very bullish. liz: all right. >> next 12 months and beyond. liz: thank you so much. five records to end this week. connell: we're going to call it 3-3 at least on a friday with the major averages all closing at new record highs. disappointing jobs report seems to really show the need for more stimulus, and yet the dow well back above 30,000 at the close, and the s&p 500 also closing at the highs. dow's up 248 points on the day, the s&p 32. the nasdaq higher by 87 points. and for the week, the dow and the s&p are up, second week in a row that they've been higher. it's the third straight week of gains for the nasdaq. so a lot of green. and we wrap up this week with higher stock prices. but we also have plenty


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