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tv   Making Money With Charles Payne  FOX Business  December 30, 2020 2:00pm-3:00pm EST

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jackie: markets end the year on high note. the dow off seg highs. lauren, over to you. lauren: good to see you. i'm lauren simonetti in for charles payne. this is "making money." stocks higher in a session where volume, let's face it anemic ahead of the new year's. the bulls are in cruise control. digesting economy and vaccines that new vary rant on covid-19 right here at home. we're looking the best place to end in to 20. restaurants in california were already on the brink but now with new stay at home orders, are they doomed? we talk to one owner who is pleading for help. bitcoin making its way to
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the nfl. how one pro is getting half his paycheck in crypto. that and much more on making monday sympathy. note. -- making money. lauren: look here, the dow, s&p 500 and nasdaq all on pace for record closes. optimism about the continued rollout on vaccines and new bill introduced in the senate today to increase the stimulus checks to $2,000 while many of the 600-dollar checks are already in the mail and investors are looking ahead to see if an additional payment is coming in 2021. we bring in two of the best, kaltbaum capital management fox business contributor gary kaltbaum. point view wealth management president chief investment strategist, david dietze. hello? >> happy new year. lauren: we'll talk about if it's a happy new year. david, this new round of stimulus do you think it could stimulate the stock market. i'm thinking new money coming
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in, new investors coming. in. what are your thoughts? >> this will be helpful but the latest stimulus they have been working on since last september. so you have to believe that a lot of this is discounted in. of course there is perhaps just a little bit of sadness that the $2000 isn't going to come anytime soon. i think that is dead on arrival in the senate. nevertheless at the end of the de lauren, we're still looking at vaccines. this is great news, the uk says they're covered by the new astrazeneca oxford offering that will be enough to cover that whole area. lauren: yeah. gary i want to ask you the same question. do you think the stimulus money whether 600, $2000, whatever it is will stimulate the stock market and also the economy? >> i'm not so sure about the stock market. i think the stock market has everything it needs right now with the guy named jay powell as
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well what european central banks are doing. but definitely can help the economy. there are some people that need money, simple as that. we're talking about people up at 3:00 in the morning looking at the the ceiling how they will find money to find food for their kids. that is how much it is around the country. the physical help, not so sure we're getting it. looks like a fight if we do get it not sew soon. lauren: david, let's look at data, midwest manufacturing surprisingly strong. look at the housing market contracts to buy homes surprisingly soft last month. let's face it, everyone is of moving, like hard to find a home to actually buy. there is no supply. talking about the fed and low rates. that is helping this market. but, david, prices have come so far up, that is inflation.
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does that worry you? >> certainly longer term inflation is going to be a concern. of course you have to remember that our friend jerome powell has been worried that he can't get the economy up to 2% inflation. so i think that down the road but i think that is going to be perhaps a 2022 story. now on the weakness and pending home sales, i think that is purely a reflection the fact that as you point out lauren there is lack of inventory. prices have moved up sharply since the end of late summer putting it out of reach for a few people. that on balance i think we're in pretty good shape with economic data as my guests pointed out, once the stimulus checks get out there. that helped us tide over until we get the vaccine. lauren: at top of this segment i almost cringed when i was about to ask what are the predictions for 2021? are we in the business we can
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make predictions when we look what happens a week from now with the race in georgia. the senate runoff is razor thin and it determines everything. it determines how far democrats can go in their push for higher taxes, more regulation and the like? >> i think it is a bigger election than the presidential election. the bottom line is if the democrats do get the senate they have already promised that corporate rates are going up to 28% during the pandemic. all the tax cuts that president trump did will go back to where they were. and that is money coming out of the economy into the hands of government that we know is inefficient and ineffective. let's talk about all the regulatory talk that is coming out. lauren: yeah. >> when we hear the climate change that is regulations. when we hear about the oil industry that is more regulation too much getting their hands into the economy affects the
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economy. you know all this talk they want to raise taxes to bring in more revenue, they will get less revenue because the economy will not be as strong if they just left it alone. my message to president-elect biden, just leave things alone. let the people do the job. as we get more and more into the vaccine and things get better, the economy will get going again. we don't need to lower taxes, i think that is wishful thinking from what i'm hearing. lauren: in the meantime we're trying to figure out how do we invest, how we set up our portfolios for 2021 but we have no idea, because we don't know what the rules of the game are going to be because of this runoff in just a few days. david, as goes january, so goes the year. you want to weigh in on that? >> yeah. i do. i want to go back to the election. i'm advising my clients to get in before the election. i think no matter how it turns out, i do prefer divided government but even if the dems take both seats i think this market takes off from there.
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just uncertainty of what is going to happen. let's face it. it will not be a dem-controlled senate. it will be basically 50/50. it will really hold back on regulations and taxes is getting through this pandemic. when you have jerome powell, when you have nancy pelosi saying we need more stimulus, more help for the economy, the last thing anyone is going to do is raise taxes. pretty soon you're into the midterms. some of the bark on the campaign trail will be less likely seen as a fight. we have to look back at the election. i think people will get back into the market. i'm optimistic about january. lauren: you're a bull. you say get in before. so that leaves investors with today, tomorrow and then monday and tuesday. you got four days, people. david and gary thank you very much. happy new year. >> thank you. lauren: near records, set to close at records if you're looking at the dow and s&p. vaccines being approved. they're being rolled out. there are mounting worries about
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covid-19 and the variant spreading around the uk and 12 other countries made its way into the u.s., the first case detected in colorado. how contagious is it and will the vaccines work on it? we asked the author of "covid the politics of fear around power of science" fox news contributor dr. marc siegel. dr. siegel is the frenzy about the new variant deserved? >> i think, no. i think the frenzy is not deserved at all. it is the usual panic. it is based on the single word mutation or mutant. it's a fear word. what people need to realize out there is that these viruses mutate all the time. they're constantly changing. they're never entirely stable. they're spinning off subtypes. so far this virus, the czars cove 2 virus is very stable. this variant seems to be more
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transmissible but does not get you sicker or more deadly. it seems the sake seen will cover it. it is not taking root into the 17 countries it spread from the united kingdom. it is not becoming a predominant strain at this point. that is something we need to keep our eye on. that's all. lauren: okay, good. you mentioned the pfizer and mow dern vaccines would work against the variant. do you think the fda will approve as the uk did the astrazeneca vaccine? this one is cheaper. it is easier to transport it but the concern is perhaps not as effective overall? >> well there is a lot of concerns about that. "wall street journal" wrote about that today and you know something, lauren, john bell over there on oxford is saying i want to be more involved. i want the oxford scientists who developed this vaccine to be the ones that deal with the fda rather than astrazeneca. astrazeneca caused a big pr nightmare saying oh, we
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accidentally underdosed it in the first shot, that worked better, caused more immunity. the united states regulators are not accepting that, that lower dose issue. so it is delaying it. and it is not going to end up going up for emergency use authorization here until february. maybe before the johnson & johnson single shot which is a very similar vaccine by the way. we're going to end up with one of those virus vaccines. both of them are very promising. the oxford-astrazeneca is very promising. the problem astrazeneca doesn't have the kind of experience with vaccine development say pfizer has who has been at this since the 19th century. that is the problem. lauren: would you recommend what they're recommending in great britain where they try to vaccinate and protect as many people as possible. instead of getting your shot three four weeks apart, spread it to 12 weeks to get more jabs in arms of people? >> i think the way to do it is to do it the way we're doing it here with the pfizer and the
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moderna vaccines which is make sure you guarranty that second dose before you give it widely. i'll tell you why. because i know from other vaccines, hepatitis-b, hepatitis-a, i can go down the line. all of them that first shot, immunity wears off. you have to insure the immunity with the recommended number of vaccine shots before you can kind of say okay, now you're immune. we could end up losing the entire cohort if we don't guarranty the shots. lauren: speaking of shots, president biden is taking shots at president trump for not taking the covid-19 vaccine. the fact of the matter i'm not sure the president can get it yet. can he, because he recovered from covid? >> are you tired of cheap shots and politicizing, political shots and dogma, all of this? it is just going on and on. you're absolutely right, first of all president trump cannot actually take the shot for three months after he had covid-19.
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as you know had it at the beginning of october. it is not january yet. he can't take it. then there is the question about what is the regeneron product he had have to do with this? he has antibodies still in his body taking the monoclonal antibodies. he is not somebody at the front of the line right now. it could backfire. no way he should take the shot before january. so president-elect biden is wrong. lauren: dr. siegel, thank you very. >> thanks, lauren. lauren: nfl player russell okomb is now the first nfl player to be paid in bitcoin. we're talking to the company making it all happen. will other pro athletes follow? first, do you her this? >> china is going to eat our lunch? come on, man. you know, they're not bad folks, folks. guess what? they're not come competition for us. lauren: that was presidential
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candidate joe biden declareing bejing not our competition but will president biden change his tune in the new year? michael pillsbury weighs in next ♪ ♪ ♪ ♪ ♪ keeping your oysters busihas 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
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>> the trump administration's plan to distribute vaccines is falling behind, far behind. i directed my team to prepare as much more aggressive, much more aggressive effort with more federal involvement and leadership to get things back on track. lauren: joe biden is quick to slam president trump for the covid-19 raging through the u.s. but what about holding china accountable? a new study finds that infections in wuhan may be 10 times higher than reported. i want to bring in the author of the 100 year marathon, hudson institute's michael pillsbury. michael, thanks for joining us. there is a lot of questions if the incoming administration can hold china accountable. if you look at hunter biden he could be vulnerable to influence or blackmail by that country. your thoughts? >> well that aren't, lauren.
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i think mr. trump blazed a trail on what to do about china, just massive comprehensive changes in our government, not just a 95-page agreement but lots of other steps to get chinese to play by the rules. if joe biden comes in, president trump doesn't agree, if joe biden comes in he will be awfully defense system about the hunter biden affair, about his own comments last year china is just weak and we don't have to worry about them. it will be a huge shift on biden's part and the hardest thing will be for him to hold china accountable for the virus. that still hasn't done. president trump has taken a few steps in that direction but he had more to do in the second term he said. lauren: it is interesting, we're hearing a lot about joe biden how he plans to deal with the coronavirus in his term. he said recently he wants more cdc presence in china. that is a position stripped by president trump s that the
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answer? >> well, no. the problem with the cdc is they would not help us back in january when the outbreak first happened. there is a cdc in china. we built it. u.s. funds, u.s. scientists. dr. fauci himself went to china and created their cdc 30 years ago but they betrayed us. they did not tell us what was going on and this is not the answer to try to re-establish the cdc without holding them accountable. i think it is still unfinished business. lauren: a recent "axios" headline, i will show it to you, how china won 2020. we'll pull it up. it goes on to say that china will end this year the only major country to see its economy grow rather than shrink. if china is stronger than ever, michael, what are the economic ramifications if the biden administration can't keep it in check if they have all this power now? >> we're facing a possible
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national disaster. one of president trump's most frequent phrases he was not going to let china surpass us. he joked if hillary had been elected they would have surpassed us. joe biden talks china more as friendly competition, as two people playing chess. no. china is out to dominate the world, to beat us. they're pulling ahead now because of this virus. so i think it problem is much more serious than joe biden said yet. we can still be optimistic he will come around. lauren: last year he said they were no competition for us. michael, thank you for the time. >> that's right. lauren: it is almost laughable. we're getting an inside look how one illinois restaurant is taking customers in during the pandemic. plus he refused to close his los angeles locations and had choice words for governor gavin newsom when california first issued the lockdowns. a restaurant owner is sheaing what he is doing to help workers get you there the extended lockdown. we'll be right back.
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lauren: california is the epicenter of the virus here in the u.s. and governor gavin newsom is telling residents stay home longer. the lockdown affects 33 million people. that is 85% of the state's population. restaurants there were already on the brink of closure. could this be a nail in the coffin? we asked slap fish restaurant group ceo andrew gruel. thanks for coming in. must be a tough time. no indoor dining fine. no outdoor dining. now the lockdown may extend past january 15th. can you survive? >> look, i don't know what will happen to the restaurant industry here in southern california. it is 75 degrees and sunny but we can't have people dine outdoors. i will not talk about the science behind any of this, seems more we talk about, they double or triple down on
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restrictions. it is tough. almost 20% of all restaurants in the united states, more than one million people in california within the restaurant industry in california completely unemployed, completely out of work. lauren: you are making all investments to stay open to abide by the newest restriction. it gets to the point where you feel like you have to throw in the towel? >> i'm never one to throw in the towel. we'll obviously keep fighting. we'll keep trying to get through this. we'll keep moving as quickly as we can helping those in the community. those of us who have lost their jobs. doing everything we can in order to keep pushing back. because us shutting down will only make things worse. lauren: your message to governor newsom. >> he has to sit down with me. give me a phone call, tweet me. sit down. talk to us. we're humans. we're people we're not numbers on spreadsheet. there is rational way to focus on this. the hypocrisy of the leaders i don't believe they believe in
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the science themselves they're pushing on us. lauren: that is the point and we've seen so many normally law-abiding citizens, who are business owners, whether a restaurateur or someone in the personal services community, they're saying you're fining me, you're issuing me citations but i'm wore rivered about my cook over here that he can make rent bill and my server can make her car payment. we're saying sheriffs say we're not enforcing any of this. the question is, don't you feel like nobody is really or the right people aren't listening to you? >> well you know scary enough there are a lot of people that aren't listening. i say scary enough, that will create a snowball effect a lot of laws get thrown out the window. that is not a good out come of all of this. newsom needs to realize when he overextends on a lot of lockdowns it puts people in situations where they actually theoretically create riskier situations because if they're already getting punished, why not? what is two detentions when you
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already got one? lauren: and you can't pay anyway. andrew, good luck to you. >> thank you. lauren: desperation is pushing restaurants to find innovative ways to bring customers in. grady trimble is live in a chicago suburb with the latest use for yes, you are in an rv the latest use for rvs. hey, grady. reporter: lauren, restaurants are getting creative during the pandemic this one the chatterbox in long grove, illinois, has put five rvs in their patio where they usually serve diners outdoors in the summertime. now it is housing five of these places. look you sit at the table in the rv with your own private party. you don't have to worry about covid spreading from your table to another table. they're allowed to do this with no indoor dining here in illinois right now. by the way, you place your order on one of these microphones. you don't have to talk to the server face-to-face if you don't want to. the walkie-talkie is there. they will come out this is the
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patio where they serve guests. you can see why you wouldn't want to sit outside right now. we have a fresh layer on the ground right here. this is mike, the owner at the chatter box. you call this camp find a way. you like all strengths are trying to find a way to survive. >> absolutely. my wife and myself are avid rvers. we like to go to and we find a way to get our guests the same experience and keep our many employees working and keep the restaurant open and that is how camp find a way was formed. reporter: you started taking reservations today. your phone is off the hook inside. >> yes, we're excited to feed long grove and the whole state of illinois if we can. reporter: we've seen a lot of innovative solutions with the pandemic and restaurants. we've seen igloos, we've seen
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tent out front but this is way to experience dining where you're isolated from other guests. >> absolutely. the exciting thing about it, we're pulling outside in through the heater, ran through uv and help pa, and exhausted through the ceiling fan and pulled out. every seven minutes the air is circulated. reporter: safely as you can be during the pandemic. ingenuity of the american business owner is on display. live from long grove. lauren: they get an a-plus, grady, they do. it is funny, i'm running out of things to make. i'm sick of cleaning up the kitchen. you day take-out, i hate to say this, they get something wrong, they forgot the sauce or whatever. maybe i would in freezing cold eat my dinner in an rv. grady trimble, to you and your guest. sawn diddy combs doing his part to help people suffering during the pandemic. the multimillionaire was on
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streets of miami handing out 50-dollar bills to crowds of people. in addition to the cash, 50-dollar publix supermarket bags with hygiene products. he didn't stop there his foundation will help 175 miami families pay their rent. he is giving back. he is doing so because of capitalism. despite its pitfalls, capitalism plays undeniable role encouraging self- reliance and enriching individuals. why on january 13th, 2:00 p.m. it visiter all town hall, email us your questions, right there at the bottom of the screen. russell is the first nfl player to be paid in bitcoin. we'll talk to the company that is doing it. tammy bruce on the campaign to recall california governor newsom. it is getting a big donation in
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♪. lauren: bitcoin is blitzing the nfl. carolina panthers defensive tackle russell okung is the first envelope player to get half his salary to bitcoin. he is converting six 1/2 million dollars using a secondary system called zap. the founder, jack mueller joins me now to explain how this works. jack, thanks for joining us. what is exactly is zap? >> thanks for having me. zap is a product strike. strike is the world's first bitcoin native neo-bank. the bank is built directly on top of the bitcoin protocol. we're able to perform things like sending money, receiving money, initiating payroll on top of the protocol. we allow you to make bitcoin payments with u.s. dollars. receive bitcoin payments as u.s. dollars and proses is u.s.
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dollar payroll for someone like russell. lauren: right. he is definitely giving it star appeal. i'm thinking the more mainstream you know, these cryptocurrencies go, so higher goes their price. crypto is already up 40% in the month of december alone! >> yeah. here's my take on this. i think it is a really important one. the everyday person here in the united states and around the world operates their life at a loss due to the exponential asset inflation. this is becoming more apparent because of the pandemic and what is going on with the federal reserve's need to print money, right? so inflation typically is defined by the cpi, the consumer price index, which is a hand-picked set of consumer goods defined by the government and they claim that there is no inflation because my netflix subscription is not going up in price. however people like myself, russell, everyone else in america we don't desire just netflix. we want houses.
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we want cars. we want to put our kids through the best education and those are assets. those are things that are hard to obtain and those are things that are inflating at incredible pace. lauren: right. >> my dad paid $9,000 in total to get his degree from duke university. he put my little brother through university for $250,000. 30 years later. that is not 2% inflation. that is almost 100% annualized inflation. if you're not outpacing asset inflation rate in america -- [inaudible]. which is currently 15 to 23% and you're not getting 15% are return year-over-year, you're operating your life at a loss. everything around us is getting more expensive. what russell says i will not risk my health, risk my body and the field and operate my life at a loss. i need to put money in harder asset that protections against inflation and that is bitcoin and doing that on a global stage and we're really proud to support him in that effort.
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lauren: you did a good job explaining how important bitcoin is but what exactly it is, but look, the average person sitting at home say pay me in cryptocurrency, what have you, but we're seeing more merchants, whether that is paypal or square accept bitcoin. so how -- the more retailers, the more that accept it, more popular, more understandable it gets. so who do you think is next? >> you know what? i think everybody is next. i think that what michael sailor is doing at microstrategy, he is saying holding cash on his balance sheet is a disservice to his shareholders because it is a melting ice cube. the world around him is getting 15 to 20% more expensive every single year. the federal reserve has no choice but to print assets out of our reach. that is, sounds like an institutional thing. sounds like something you can't relate to as an individual. that is not true. that is the same for everyone.
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everyone is going to grow up work for living wage and want to buy a house, want to support their kids. if life is getting increasingly more expensive, you have to preserve the wealth, protect the wealth in something that acts in your best interests. something that doesn't get inflated away at that level. so i think bitcoin applies to everyone. treat it as a savings account. let me explain it to you this way. russell knows he operates life at a loss if he department receiving salary in dollars. the other options, traditional real estate, gold, precious metals. will you likely receive a salary in real estate? maybe russell has the money to do so but what about the average citizen gets paid normal salary of $80,000 a year? getting salary in bitcoin, it is accessible, digital, globe. can do it in the smartphone. it is the future. i think it applies to every citizen that wants to operate their life at a profit as opposed to a loss due to the federal reserve.
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lauren: we'll track bitcoin as they have all been all year. up more than 200%. jack, thank you very much. good luck to you. charles payne is out this week. he still watching markets. he is digging past the headlines. he might be watching. you can read his daily commentary at w check it out. charles, send me a tweet. coming up you might need two passports for your next trip, a regular one and covid-19 one? we'll tell you why is this government going one step too far? the campaign in california to recall governor newsom got a major cash infusion. you can thank the lockdown for that. tammy bruce is coming up with the message being sent to governors across the country. we'll be right back.
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♪. lauren: ready for your next vacation? airlines worldwide could soon have passengers show a passport proving they tested negative for covid-19 and were vaccinated. jeff flock join us from chicago's o'hare on the future of travel. jeff, two passports, really? reporter: it could be, lauren. you know right now we got to have a ticket. we've got to go through security there and we've got to wear a mask.
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they make us do that in order to get on a plane. could they make us prove that we are covid negative or we've been vaccinated going forward? it is possible. a number of companies now are working on apps would do that proving. take a look at pictures of one of those apps. it is called common, what is it called, common pass. went out of my head for a second. common pass. it would essentially prove because it would link with your medical record, at least the record in terms of vaccination or tests that you were negative test or that you had postively been vaccinated. the airlines think this would be a key. in fact they're working with some of these companies, key to getting passengers back in those seats and back in the air. if you look at the numbers, the last four days actually we have been over a million travelers each day which has been more than it has been of course well below the number which airlines can make any money. this time last year, for example, two million travelers on this day last year.
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so the thought is that if it works for the airlines it could also work in other venues. maybe live theater, concerts, that sort of thing, even restaurants, if you can prove that you are safe, you all get together, everybody feels more comfortable. lauren: when all this is said and done what is the first thing you are going to do? i said i want to go to a nightclub a really crowded one. you? reporter: boy, that is a great question. i just, i said the other day i miss eating out. i used to eat out a lot. i just enjoy the experience of being with people. you can't do that really with any degree of comfort. so that's my first thing but yours is better. definitely topped me. lauren: maybe the common path is our solution to return to normal. jeff, thank you. happy new year. want to bring in right now fox news contributor tammy bruce. tammy, there is a lot of privacy concerns about this. what concerns you have that information, personal data, health data could be used by the
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government? i'm saying that because a few days ago we reported that spain was creating a registry of unvaccinated people to share with other countries. >> europe has fascist history. they have a history of keeping people on lists and registries and controlling them. they don't have the united states constitution and bill of rights. they can do that. that is why people come to this country they want to be left alone very often. they want to put your their lives and live their dreams. this would have to be administered through and i international body. this is about travel. everything we discussed in the last report about the masks and about security and having you know, your ticket is local, is your dealing with it locally. you're in control of that information. you hand it to that one dynamic. if there is a sort of a passport where your lab results, are you kidding me? your health care is linked on to the internet with everything we've just experienced with the
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hacking, either through russia for china, right? they say oh, it will be safe. no, it won't. what better way, lauren, to get american citizens in a international database with all of your data and that includes then who your doctors are, where you have been traveling, what else you have been tested for. if anyone believes this world that we've experienced is of course not our friend at this point or really over the last 50 years has not been, that iran, or north korea, or russia or china would have an interest in this information, you know, that's where it goes. i also think, people do want to be comfortable. the fact is, as new york has found in their chart, transmission of this virus happens primarily at home when people are locked down. we are not looking at people on airplanes. it is not spreading there. it may be 1% spreading in restaurants. so if you want to be less
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afraid, the answer is not to give your life up to an international body that does not mean well. it means countries have to end their, you know, like two-week time that you got to stay isolated when awe rife, where you can participate in society. new york's empty because broadway is closed, the ballet is down. the opera. open society up, get people vaccinated and we will see that the results are, that we're going to be just fine. lauren: yes. meantime a lot of people in california are saying amen to you. there is a campaign there, gaining a lot of steam to recall governor newsom. it got a half million dollar boost from a consulting firm. >> great. lauren: you were involved in the last recall in california of governor davis. >> yes. lauren: what is the chances of this recall? they are halfway to the signatures they need. how big of a deal is this? >> it is very big. there have been 55 efforts in
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california's history to recall a governor. there is only one that succeeded, that recalled gray davis in 2003. the west, californians, i'm a native californians, we're still really renegades. we're cowboys. we really do, people go west to be free and so this, you know we may be quiet but the fact is gavin newsom lied during the election on things like the death penalty. he said he would respect californians attitudes. he didn't. he immediately got rid of it when he came in. now these are arbitrary and capricious rules that make no sense. he is setting the state on fire. like the vietnam dynamic. if we had to destroy the village in order to save it. americans don't like that. we don't want it. so what they did need. there is a great grassroots support for this but as i found and others involved in the recall in 2003 was the finances,
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to be able to professionally get more signatures, more people with the petitions to get signatures because they need about 1 1/2 million but then they need more than that because of course some signatures won't be right. this can work. it is got momentum and money. so it is exciting. lauren: they have 800,000. they probably need something like two million. tammy, thank you very much. let's take a look at the big board right now. >> thank you. >> stocks, yes, are rising on the second to last day of the year. the dow is on track for a record close but s&p is one point shy. we'll see as we head into the final hour of trading. coming up the last trades you could consider before the closing bell today. yes, the close of the books for 2020. ♪.
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lauren: the dow on fapace for another record close. it's been an amazing year on wall street. that's an understatement. can it keep going, that's the question everybody has. nate fisher has some answers. nate, good to see you. >> happy holidays, lauren. lauren: i was going through your notes. you are a little bit worried about the first quarter of 2021, true? >> right. as we turn the page to 2021, i think there's a few land mines on the horizon. the first thing next week is the potential georgia runoff of the
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senate flipping blue and if that happens, the market could sell off sharply given the fact that all the pro-growth agenda that the trump administration laid out could be sharply reversed by joe biden. another thing that i'm also looking at is the rollout of the vaccine. we continue to see supply chain hiccups and if we can't get back to normalcy and the economy fully reopen, most likely those estimates for 2021 in the s&p 500 need to come down for earnings. lauren: earnings are right now expected to be pretty strong for the new year. it's one of the positives many stralt gi strategists are citing. you're not so sure? >> i'm struggling with the fact 2021 will be better than pre-pandemic levels when we are still dealing with the covid-19 crisis and we still haven't found a solution to effectively reopen massively. the vaccine is supposed to take care of that but small businesses are still being destroyed in the meantime.
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lauren: cyclicals are very strong today, whether it's energy, materials, industrials or the financials. that's leading the market today. having said that, what do you think the leadership is in the new year? can it continue to be technology at these really steep valuations? >> when i look at what technology offers from a growth standpoint, it's not all that expensive. i look at industrials and materials and these two cyclical industries have really been leading the markets since summertime. the fact is, when i look at caterpillar trading at all-time high and their business model right now is not in the place where you think that would be the level of stock that it's at, i look at salesforce at a 200 day moving average with durable growth for the next five years as a better relative value trade right now. i think tech and health care are probably still really good spots to be in 2021. lauren: you don't like caterpillar. that's interesting because barrett has it as its top pick on that list for the new year. what stock do you like heading into 2021?
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i know there's one company i never heard of, i had to look it up, it's fascinating. tell us about it. >> so the best relative value i'm finding right now is in that small cap world of stocks, maybe 1.4 billion market cap. knowles makes microphones that go into every electronic device you have in your life, maybe the smart speaker, maybe the wire less headphones you have. this stock is trading extremely inexpensive to the market. it hasn't quite caught up from where the russell 2000 has gone. roughly from the bottom, the russell 2000 is up 1,000%. we think this stock can slowly grind higher as we work our way through 2021. lauren: thank you so much. speaking of small caps, today is the first time in four days that the russell 2000 has a green arrow and you know, the s&p might finish in record
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territory. has to be up eight and change. the dow jones industrial average looking pretty good. so is my friend cheryl casone, in for liz claman. cheryl, this is, what, this is the second to last trading session of 2020. cheryl: yeah. we will see how we do in the next hour. got some good numbers. we will see if we can boost those a little bit. thank you very much. we also have this right now. that's breaking news. the senate is set to gavel in at any moment. they will get the ball rolling on a veto override of the $740 billion defense spending bill, but still no vote set on the house, that $2,000 stimulus check president trump supports. we will get the state of play on capitol hill. there's a lot of moving parts right now we are following for you. meanwhile, lauren just mentioned this, the dow, s&p 500 trying to wrap the second to last trading day of the year at new record highs. the dow needs 68 points, the s&p 500 needs 8 points to do the


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