tv The Claman Countdown FOX Business July 23, 2021 3:00pm-4:00pm EDT
charles: you don't want to see women in combat? >> i don't. if they choose to, but the forced draft -- now, we haven't had a draft since is vietnam, but i don't want to force our girls and young women into a war. charles: beverly, it's been too long. i hope everything's great with you, always love these segments and i really love this market. we are rocking and rolling as i hand it over to my friend and colleague, liz claman. don't fumble it. liz: happy friday. i will not. no butter fingers here. breaking news, the dow is about to wrap up the wildest trading week of the summer at a new record high, and that's not all. it could close atop 35,000 for the very is first time in history. that's why you've got to stay with us the whole hour. the s&p and the nasdaq are separate, but the dow heading toward fresh historic highs as well. if the dow can hold on, it will have taken just 69 trading days to make the 1,000-point leap from 34 to 35,000.
our floor show traders are getting in front of their cameras to analyze what happens next. as the markets rush higher, carnival cruise lines setting sail for alaska, but could the highly transmissable delta variant take the wind out of their sails? in a fox business exclusive, the ceo arnold donald joins "countdown" live from one of his ships. he's going to give us the battle plan. and a horrific shooting just blocks from the white house last night putting security front and center is. we've got the new republic company that says it's gun-sniffing technology can stop violent crime before it happens. the ceo of evolve is about to show you how his company's systems detext guns, bombs and, yes, maybe even covid. plus, gold rush, to olympics now underway in japan. we are going to look at the booming betting industry swirling around the games this year live from the fanduel
sportsbook in new jersey. plus, the cleveland indians will have a new nickname next year. and a new entire name. we'll tell you what it is and, yes, i will weigh in because cleveland's my city. we've got begin with this fox news alert, even as intel gets slammed with a flurry of price target cuts regarding morgan stanley, we're looking at a 6.25% drop, that loss hitting the dow component after it reported the global chip shortage will last not just into next year, but 2023 still isn't is ugly enough to derail the dow's friday bull fest. it's amazing, right? after monday's sharp selloff, who would have guessed that just four days later we are preparing to break out the confetti for dow 35,000. we're just 35,020 right now. then again, we've seen the blue chips rocket higher almost every, you know, every other
week or so, right? let's look at the last 52 weeks. even as the pandemic hit, what was at that time a new peak on this day one year ago of covid cases. what we thought we'd do, pull front page headlines from july 23rd of last year. "the wall street journal" reported that the u.s. had topped 4 million coronavirus cases with three statements reporting single-day record fatalities. and one year ago "the new york times"es was reporting that pfizer had just been granted its $1.95 billion from the trump administration to produce 1 is 00 million covid is -- 100 million covid-19 vaccines, but that they wouldn't be done by the end of 2020. back then a vaccine was a question mark. had you sold stocks on those bad headlines, what an epic mistake that would have been. since the close on july 23rd, 2020, the dow has climbed more than 8,400 points or 31%.
flip it over to the s&p 500, try this one, a 36% upside move. the nasdaq composite clocked a 41% gain up until, yep, today. but no one has done better than the small and mid if caps, the russell 2000 has spiked more than 47% over the pascallen daughter year. past calendar year. how will we look on this day next year? to our floor show, michael wagner says do not ignore the bond markets' warning that the stock market is heading for rough waters. he joins us along with trader chris robinson. great to have you both. michael, let's get right to it. nobody seems to have a problem going into this week long, and monday's selloff frightened off few,ing if any, investors. so what is behind your worry? >> sure. thank you, liz. i think what we're seeing, as you mentioned, is the bond market is telling you something very different than the stock market. we're very near -- historical
highs today, and we're seeing this very muted picture for growth. very mixed messages from the two markets. liz: okay. you're saying muted picture for growth, we just had david kelly yesterday from jpmorgan saying he is expecting 10% gdp percent quarter. what are you talking about? i mean, we're looking at strong growth, are we not? >> that, that is what david kelly is saying and what we're seeing from the bond market at least is more muted growth. we've been saying the s&p is not necessarily gdp. we may have pulled forward a lot of this forward growth expectation talking about a trailing one-year return in 30% range well beyond long-term historical averages and protecting client capital, we start to get a little concerned about that. liz: chris, you watch the bond market, you watch the stock market. you're looking at puts calls for all kinds of sectors. what are you seeing as far as the flows are concerned? >> well, i would say this, i
mean, the time to prepare for the rainstorm is when there's no clouds in the sky. so this is when you want to be -- liz: right. >> last week we had a 4% break, 4% break you'd have thought, you know, we were entering into the first week of armageddon. so you've got to be prepared for that. and with the market at 35,000, you know, 5% move which, you know, from the last 30 years we've been told anything 5% or less, that's noise. so you've got to get ready for, you know, 5% moves like we just had to become a regular thing. and, you know, as far as what's the growth rate going to be and that type of stuff, that's something that we look at. we look at how do we protect these gains and how do we also, you know, look for opportunities. so you have to have a plan to do both, you have to be looking at these rallies as opportunities the take profits and to also protect the possibility that that, you know, we have a beggar correction than we had -- bigger
correction than we had last week. liz: okay. so, mr. wagner, you've got to tell me right now where would you be taking profits, and where would you be then reinvesting those profits? >> sure. i mean, look, i think you've got the look at those growthier sectors, your big tech names, your amazons, you know, if you have something like that in your portfolio, you could move into some of the more traditional sectors, commodities right nowing, look at home builders as well. we're facing a deficit in homes in this country. as far as sectors go, that is where i would be seeing opportunities as well. liz: hmm, yeah. chris, you look at a name like intel, big tech, but that name has been struggling yet. wouldn't you think that some of the chip makers would be the place to go since there's such demand for them right now? and yet there is a supply crunch. >> you would think that. and, you know, if that's your investment idea, i always tell people you have to have an idea to pull the trigger on an
investment idea, the question always is, what are you going to do if you buy it and is we have a 10% correction. are you going to buy more? what's your plan? that's the key. when we're at these lofty levels, how about the gain off the low? the low in the dow at the panic low during the pandemic was 18,000 and change. so we've already gone up 17,000 points in a year. [laughter] you know, 17,000 points, so you can't yet so excited -- get so excited. i know it's hard not to when we move, you know, 500 points or 1,000 points, and if we hit 35,000, you know, what's the next goal? well, it's going to be 36,000. and at that level you're going from 35 to 36,000, it's only 2.8% more. so we're starting to get up in here where you've got to really have a plan. can't say this enough. make sure you know what you're going to do.
if there's a stock that you like, make sure you know where it is you want to buy it. liz: yeah. end keep that shop ising list ready for days like monday, which lasted really very briefly. michael, chris, great to have you both. thank you very much. as we look at the dow still above 35,000 at 35,014 right now. we've to got this fox business alert. social media stocks are buzzing right now. it's all flowers, butterflies and rainbow filters for snap in this final hour of trade. look what happened here. this stock is powering higher by 25% after the social media titan -- yeah, it's now a titan, boy, did it have such a rough beginning though. it's a titan after posting a surprise quarterly profit. the snapchat parent also posted better than expected revenue as tail hi active growth reached its highest rate in the past four years. snap, that's a new all-time high today. and you've got twitter moving higher by 3.6%, flapping its
wings right past top and bottom line estimates. big move for twitter right now. and not to be left out of the social media soiree party here, facebook surging to a new all-time high. credit suisse has raised the price target on shares to a street high of $480. right now it's at 371. $480 is a 37% upside from yesterday's close. what is the catalyst? well, high hopes for the social network's ad sales recovery. the move is big enough right now to push facebook higher by 5.8%. and, by the way, credit had a bullish -- credit suisse had a busy day, going all in on google alphabet's sales prospects, predicting the 29% upside on the tech titan with, get this, a $3,350 price target on shares which are also hitting a new record high right now. google currently up 3.5% to
$2,658 a share. that didi disaster, we've been covering this all a last week and this week, showing no signs of hitting the brakes. the chinese government's crackdown on the chinese ride hailer knocking another 19.8% off shares right now. shares have lost more than 32% just this week alone. and china now reportedly turning it regulatory guns scary at the $120 billion for-profit education sector in that country. bloomberg reports that regulators are asking firms to shift the being nonprofits in an effort to ease pressures both educationally and financially on both students and parents. chinese education stocks are getting destroyed right now. ,tao down 69% and go to is down
62%. that hard seltzer boom which was so hot is going bust right now. boston beer tanking, down 24% as sales of its truly hard seltzer fizzle out. okay. so bring back wine coolers, okay? bartings and james. i'm telling you, people. that's my drink. all right, america's big cities on edge after yet another shooting in washington, d.c. last night. the second in less than a week. what we're going to do is we are about to bring in the newly-public company using a.i., artificial intelligence, to sniff out guns and weapons everywhere. it's being used at hershey park, wynn's casinos, wrigley field, the metropolitan museum of art in new york city and more. the evolve ceo is here. he's going to show you how his technology is changing the game
on security. again, they just went public. closing bell ringing in 48 minutes. the dow holding on to 35,000 by just 2 points right now. we are coming right back, don't go away. ♪♪ liberty mutual customizes car insurance so you only pay for what you need. how much money can liberty mutual save you? one! two! three! four! five! 72,807! 72,808... dollars. yep... everything hurts. only pay for what you need. ♪ liberty. liberty. liberty. liberty. ♪
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♪♪ liz: all right, folks, a brazen shooting at a d.c. restaurant last night less than a mile from the white house has left two people wounded. last night's violence coming less than a week after bullets flew outside the gates of the washington nationals stadium, and that gunfire breaking out in milwaukee after the bucks won the nba title tuesday? i mean, this comes together as a major rise in crime which coincides with mass numbers of people desperate to get out, to travel, to attend games and visit theme parks. enter evolve technology, the leading weapons detection security screening firm just went public monday after completing its spac merger with new hold investment corp.. evolve's technology is reportedly ten times faster than traditional metal detectors and is already used at six flags theme park, the metropolitan
museum of art in new york city, the wynn casinos and more. let's bring in peter george, ceo of evolve technology. you have an eager investment audience here, you also have an audience who's worried about crime. the everyone is so eager to get out, yet we're seeing this alarming spike in violence across the nation. do me a favor, walk us through what's so special about your security systems and how they work with artificial intelligence. >> super. his, thank you so much for -- liz, thank you so much for the invitation. it's a pleasure to tell our story. so we've built the first and only artificial intelligence, a.i.-enabled, weapons detection solution in the world. and basically, think about the most advanced sensors, cameras and then machine learning models the differentiate between a phone and a firearm. most people when they walk through a metal detector today have the take out their metal. of course, it creates lines.
people end up touching your stuff. and in our case, we make the lines go away because we can discriminate between that phone and a real weapon. and as you know, most people aren't carrying weapons when they come into a venue, but if they do, we use artificial intelligence to find it. think about the needle in the haystack, and we let everybody else flow through into the venue without breaking stride. so you get the best of all worlds. the venue is a lot safer, people walk right in, again, without breaking stride, and most of our customers can save money as well. liz: yep. you're at wrigley field. i'm thinking about the washington nationals shooting. it was outside the gates, but let's just say it were inside. you guys weren't there, do you plan to have a relationship with any of these other ballparks and other football stadiums? >> sure. we're working with professional, all the professional sports. it happens to be one of the areas that's regulated, so
regulated requirement for security -- airports, prisons and professional ports. so -- sports. so today we're in some of the professional sporting arenas today, and we're working with the leagues now to make sure that they can put our technology in the entryway so we can process people into the stadiums. so today we're helping reopen baseball, we're going to be reopening football. think about 40,000 or 80,000 fans coming into a game. you can see the cubs here. i was there to help open wrigley field and have people walk to their seats from their car without breaking stride. liz: nice. i do want to ask a few other questions though. people have gotten smart. criminals are smart. they're now using 3-d printed guns. can these machines see that? people also disassemble guns and put them in different pieces so it look like something else. i mean -- looks like something
else. can you beat that? >> that's a great question. so in every case, both the 3-d gun and if somebody disassembled it, we have the signatures for all the weapons in the world, and we'll always find that metal barrel that's required to actually do damage with a gun. so we'll always find it in those cases. we've written the machine learning algorithms for all the guns, bombs and tactical knives in the world, and our sensor system can identify those signatures quickly, send an alert and will stop it before it gets into the venue. and then you asked a question earlier about professional sports. a lot of our professional sporting customers are are pushing the perimeter out away from the stadium, so you'd come through our system out in the parking lot and then into the entryway. so that's the defense that's really, really important to building a very safe venue. liz: well, that's exactly -- see, that's the thing, peter. outside the nationals' gate is
where that actually happened. so are you working with the nationals after something like that? >> we are, actually, we are with them and most of the professional sporting teams. it's a great point. when you think about it, when a line's created, it's actually a soft target for an attacker outside the venue. you don't have to go in to cause a problem. you can create it there. so by pushing the perimeter out and making the lines go away, we make that threat go away. liz: okay. i just noticed that you're talking, your stock -- which had been down the entire session -- is now higher by 2.7%. you know, we -- as i said at the start, we do have a very active investor audience who wants good stories and ideas. but let me just say before you even went public, some of your investors -- all from the sports world, peyton manning, joe torre, steffi graf, andre agassi, theo epstein.
to me, that is certainly something that they feel they've always been unnerved over. their own safety. and, of course, bill gates, jeb bush in there as well. >> right. look, all athletes know, everybody knows that the pandemic has changed the way that people want to gather forever. nobody, when we come back, we we want to be safe from covid-19, but we want to be safe from all kinds of weapons. so the idea for people to come back, the new proxy is how do i come back in a safe and frictionless way. and that means no more lines, make 'em go away. we don't want anyone touching our of stuff. and when i get inside and i want to enjoy the game or the performing arts venue or whatever, i want to do it knowing that there's not a weapon inside the venue. and we're the only technology in the world that allows that to happen. liz: peter george of evolve technologies, continue the good work you're doing. thank you very much.
>> thanks so much, liz. we will. it's our mission. liz: yeah. stock is up 2.25% right now to $9.01. going for gold on what might be the biggest olympics gamble ever. how the top names in sports wagering are cashing in on one of the most controversial games in history. with the closing bell ringing in let's call it 36 minutes, the dow, the s&p and the nasdaq are all powering higher. the dow straddling 35,000 right there. we're taking you live to fanduel's sportbook betting operation next. ♪ ♪ parking, big closets- there's too much pressure in the bathroom. hey... good luck with the future in-laws tonight. don't overthink it. but don't underthink it. don't talk about your cover band. don't talk about your fantasy team. don't talk about your cats. you're gonna do great! at least geico makes bundling our renters
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uniforms now. my favorite baseball team, yes, the cleveland indians, have announced today they finally picked a new name, the cleveland guardians, after critics took issue with the name indians saying it was offensive the native americans. the team unveiled its new moniker in this video on twitter. the video, narrated by actor tom hanks -- who's not from cleveland -- saying it was time to drop the name it had used since 1915 to unite as one family, one community and, quote, to build the next era for the team in the city. more than 40,000 fans were survey ised as part of the renaming process that was first announced last summer. the guardians name and new logo will take effect after the current mlb season ends. by the way, indians, now the guardians, have not won the title in 72 years. let's hope under a new name, go guards, they do, okay? because i've been waiting a long
time. from baseball in cleveland to summer olympics in tokyo. this morning the opening ceremonies kicked off overshadowed a bit by the covid-19 pandemic. just 950 spectators were allowed to attend. because of the renewed spike in cases of covid, the games aring being held without spectators to cheer on the 11,000 apt heats competing -- athletes. but that is not stopping millions of americans from placing wagers on olympic games as legalized sports betting has taken hold across much of the country. joining us now live from the fanduel sportsbook at the meadowlands, lydia hu. i love this, i think this is fascinating because it gets people all excited about the games. of course, in new jersey it's legal. tell me what they're betting on. >> reporter: well, there are a lot of sports that are garnering a lot of attention. part of that is because they've added a lot of new sports
categories to the olympics this year. like you said, liz, this is the first opportunity that a lot of people are going to be able to have to bet on the olympics without traveling to nevada. that's because since the last olympic games, 21 statements and the district of -- states and the district of columbia have legalized sports betting. the american gambling association estimates more than 20 million people will place a bet sometime over the next two, two and a half weeks. but there's not an estimate as to how much will be wagered. that total sum is still yet to be determined. i'm talking with folks here at the meadowlands about whether they have plans to place a bet on any olympic game in the coming weeks. i'm getting mixed results. watch this. >> there's going to be no people in the stands, the excitement is just not going to be there. >> basketball, expwaibl a little bit of soccer -- baseball and a little bit of soccer. >> reporter: that last gentleman was answering what he's going to bet on, and basketball was one of his answers. that is among the favorites according to the american
gambling association, attracting the most attention from people that are going to wager on an olympic sport. like i said, the olympics are adding new sport categories, cheerleading, skateboarding, surfing, they're hoping to attract a newer, younger audience to watch the games. and is along with that is the hope that a younger audience might also be more interested or open to placing bets online, on web sites or on apps like fanduel that, of course, will possibly increase the amount of money we see flowing into some of the sportsbooks. there's a lot of money on the line are, especially for states. the states get to decide how much money of that revenue that's generated they get to keep. new jersey is actually the second largest sports betting market outside of nevada, and i can tell you, liz, in the three years that sports betting has been legal here, they've managed to generate more than $148 million from the activity. liz. liz: yeah. you know, let's live the life,
let's make some tax revenue. i'm just wondering, are you with able, lydia, to bet on things like the hot story that's coming out of to him picks right now? charles payne just did it in his last hour, whether teams are getting fined for their shorts that are too short, others are getting fined because their shorts are too long. and, i mean, we can show you some of the pictures here. it's just unbelievable how crazy things have gotten. so can you, can you bet on things other than who's going to win and who's going to lose a certain match? >> reporter: yeah. you know, there are some restrictions. for example, you cannot place bets when the athletes are younger than 18 years old. you can certainly place bets on events when, you know, you're betting on team or at late to -- athlete to win. you can also place bets on the over/under on whether a country's going to bring home a certain number of medals.
fans tell me russia is the favorite, expecting them to bring home the most number of gold medals. that, of course, could change. but i'll have to check into betting on whether someone's shorts are too long or too short. i'll check back in with you and get that answer. [laughter] liz: this is very serious news. lydia, thank you very much. lydia hu live from the meadowlands in new jersey. american express swiping right past both earnings and revenue estimates courtesy of the post-pandemic travel boom. amex, of course, big, big, heavy moves in travel, right? travel and entertainment for the second quarter at 67% of am ec's june -- amex's june 2019 level. record numbers of platinum card requests. and carnival cruises ready to take the post-pandemic travel party to the pacific northwest. but will that delta variant threaten your next trip on the high seas or perhaps the docks?
ceo arnold donald joining "the claman countdown" in a fox business exclusive next. but first, as we head into the break, we do have cryptocurrencies pulling back just a bit, litecoin, down about .75%. we do have bitcoin at 32,229 and ethereum punching new that 2,000 level and holding steady at 2,020. closing bell coming right up. don't go away.
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point. shares of carnival may be down today, but they have scratched back 53% over the past year. but let us bring in in a fox business exclusive ceo arnold donald who is live onboard a princess cruise ship with great food, i know. those cruise ships have the best, best dinners, okay? love that. arnold, give me a sense, because we to have a little bit of breaking news that literally just flashed on the tape, on the wires during the commercial, and that is that new york city mayor bill de blasio is now recommending that all companies in the city require their employees to get vaccinated. you guys have, what, your entire crew on all of the ships vaccinated? tell me how that is playing out. >> yeah, first of all, good afternoon to you. i'm sitting aboard the beautiful majestic princess here in the port of seattle. i can look across from where i'm sitting at the beautiful new
amsterdam holland american lines, princess, holland american and carnival are going to be selling out of seattle up to alaska, we'll have almost 6,000 guests onboard. and to your question concerning advantage vaccinating, yes, our crew is vaccinated as well as these sailings per the cdc, you know, definition of vaccinated which means more than 95% of the guests are also vaccinated. and so the best way to protect yourself and your family and your loved ones and to protect yourself against variants like delta, you have to be vaccinated. liz: tell me about bookings to alaska. you're finally starting them back up. what are you seeing as far as people rushing to buy tickets? give us a sense is. sense. >> well, huge cue toes to all of the members -- kudos to all the members of washington state and
alaska delegations and all the bipartisan support for the alaska restoration act which is enabling us to start cruising to alaska at this time. without them, we wouldn't be in a position to do so. and all the local authorities as well. but the demand is robust. as i mentioned, nearly 6,000 guests are embarking tomorrow on new amsterdam, sunday on majestic princess and tuesday on carnival miracle. but beyond that, the bookings are very strong. as you would expect with pent-up demand and people finally being able to feel comfortable in terms of having access, first of all, and them being comfortable because we've used all of the advices from around the world and, of course, we're in compliance with everyone. insure that the best interests of public health are is served. are served. liz: we do have this delta variant, obviously, rearing its ugly head right now, and there are a lot of hospitalizations
mostly of non-vaccinated people, but we are seeing breakthrough cases where people fully vaccinated are getting it and exhibiting, exhibiting symptoms. are you guys preparing, what kind of sort of meeting, discussions have you had with worst case scenarios where you will ask guests to don masks regardless? >> you know, first of all, we go to over 700 ports around the world pre-covid and ports are beginning to open up. so we're expecting that as we start up that there are going to be issues that e -- evolve. and we have to be prepared for that. we've worked it out with all the ports where we are sailing how we'll handle situations that evolve. with regards to the variant, you know, that knowledge is evolving, but to date it appears that those who are vaccinated largely have little risk of being hospitalized or have a more extensive result. they may have some symptoms, but many won won't.
some will. -- many won't. but few seem to be hospitalized at this point. that's being monitored. we will follow the advice and recommendations of the global medical experts and, obviously, comply with whatever the regulations are wherever we go. that is requiring mask wearing more broadly, we'll do that if that's the advice or requirements. but our interest is to serve the best interests of public health while giving people a great vacation experience but knowing that, you know, they're in a situation where people are paying attention to insure that the best interests of public health are being served. liz: well, congratulation ares on sailing to -- congratulations on sailing to alaska starting tomorrow, and is we'll be following, obviously, the stock story when you guys turn cash flow positive. either way, we'd love to have you back. arnold donald of carnival -- a long way to go, i know. [laughter] >> liz, thank you so much. and in deference to your time at the sorbonne --
[speaking french] liz: all right. we're coming right back with charlie gasparino. very nice. all right. we got to speak a little french there with arnold. back with charlie gasparino on the reddit room's plans for the robinhood ipo. are they going to stand together and short the robinhood ipo? charlie breaks it now. look at the dow, now at 35,082. if we close here, first time ever closing above 35,000. ♪ gold. your strategic advantage. ♪all by yourself.♪ you look a little lost. i can't find my hotel. oh. oh! ♪♪ this is not normal. no.
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into the world last wednesday. 5 pounds, 14 ounces. mom -- oh. baby. oh, ooh, so cute. don't let me near her, jackie, because i will pinch her cheeks. mom, dad and daughter are all happy and healthy, probably very tired right now. a heartying congratulations to jackie and justin from your fox biz family. and as soon as she's old enough, we're putting her to work. robinhood set to make its higherly anticipated debut next week, but ahead of the ipo investors are kind of getting worried that regulators may target the company's source of revenue, payment for order flow. plus, charlie, how is the reddit crowd going to look at this ipo as well? you've got a lot that you're breaking here. >> yeah. we should point out that it's quite a jarring, quite jarring from the viewer to go from that really cute baby to me -- liz: i know it. [laughter] >> i think the producers have to work better on transitioning there, liz.
[laughter] liz: better segway. yeah. >> here's what we know. the underwriters expect robinhood to price its ipo wednesday. they're expecting, you know, the number was a $35 billion valuation, a chunk of the shares are going to go to robinhood's own clients. they can buy it on their app. the list aring, apparently, occurs thursday, so i guess that's when it's free to trade and you can buy it in the secondary market. the underwriters are worried about certain things, and it's not quite the reddit crowd. they're really worried on the sec crackdown, gary gensler said he wants to do something about this controversial practice. and this practice allows robinhood to make 75% of its revenue. what is payment for order flow? well, the reason why you can trade seamlessly and free on robinhood is because they sell their buy and sell orders to outside brokerages. gary gensler believes there needs to be more disclosure. maybe that's not the best way to do it. anything that could hamper payment for to order flow, make
it more expensive is going to eat into earning. and the underwriters i spoke to today, they are worried because they're getting some feedback from institutional investors that, hey, is this a problem? and maybe that's going to screw up the pricing. maybe they don't get their $35 billion valuation because of that. but anyway, that's one of the problems. they're not too worried about the meme stock people. why do the meme stock investors hate robinhood? they stopped trading early in the year, it angered a lot of them, and they've been essentially vowing to short the stock. again, they're not too worried about them shorting the stock. by the way, once you short a stock, you borrow it, you sell it, you replace it at a later date. yeah, who knows how much float's going to be out there. there's going to be hedge funds flipping the stock, so this could be a pretty interesting day on wednesday and thursday. we should point out that the analyst coverage on robinhood is
really interesting. it's kind of a hybrid. you've got fin-tech analysts covering it, regular brokerage analysts covering it and tech analysts covering it. so it's all over the place. again, they're less worried about meme stock and i think they're less worried because robinhood has gazillions of customers even though its trading isn't as crazy as it was earlier in the year. and a lot of those customers are going to buy it. you can buy, i think, a third of the share ises. the number i read was 770 million of the shares you could buy on your robinhood app. and they believe they're going to have strong demand. so we'll see what happens. again, i think it's the payment for order flow stuff that's starting to freak out some institutional investors. but we shall see. liz, back to you. liz: we shall see. a lot of them do it. all right. the dow moments away from closing above 35,000 for the first time in history. you cannot move. you have to stay here to witness
liz: i don't want to jinx it here, but i think we can say queue up the confetti. the dow is about to boldly go where no index has gone before, 35,000 at the close for the first time ever. by the way its gained more than 5,000 points in just 165 days, so at this rate, we're going to ask right now, which stocks should be in your portfolio and which stocks should you jetison, as we look toward dow 40,000. let's bring in today's countdown closer for the answer edgar loma x, cio randall ely. great to have you, give it to me straight here. what do you make of this? we are well above 35,000 right now, and we'll close first time ever. >> it's exciting, and it's
scary. the fact of life is while most people lori lightfoot all of the excitement of history being made, as a fact of life, that can go forever, the more we have to be careful to expect serious slides. liz: randall you've got about 1.5 billion in assets under management. what would you add to portfolios right now and what would you jet ison? >> you know, we're buying stock s for the most part, that most others aren't going anywhere, the financials, we really like allstate for example ,, with low price to earnings ratio, so we take current earnings and we don't worry about what future growth is going to be although we want growth and a company like ces health that has the largest food chain, i'm
sorry, i would suggest in specific sales, i would just say in general, whatever stock is growing the most excitement in the market, whether it's technology, or anything else, but when you're getting high multiples, price earnings ratios of over 30 or 40, be careful. frankly we're definitely not buying them. liz: we've got about 30 seconds here the fed meets next week on interest rates they probably won't do anything, but does that present a headwind or a tailwind at some point? >> i think it presents a yellow light, a caution sign. there was an article in todays' wall street journal that are thinking about holding serious discussions about when and how much tapering there will be now. liz: yeah, tapering, we'll be watching all of it and we will be covering it. randall, thank you for joining us, randall eley. wonderful to have you and your perspective. listen to what randall is saying he is buying stocks as long as the fed is right there, gang
ing up and saying we are not raising rates, it's hard to make a case against stocks, according to randall eley. here we go the dow is amid an explosion of fireworks, we close above 35,000 for the first time in history. >> [closing bell ringing] liz: lots of records for the s&p and nasdaq that will do it for the "clayman countdown." kudlow is next. larry: hello, everyone. welcome to kudlow, i'm. larry: . here we are, friday night, and let me say, unfortunately, go woke, go broke. according to the congressional budget office through june, total federal debt in the hands of the public is $21.7 trillion. total debt itself, which includes inter-government transfers like social security trust funds and so forth comes to $28.5 trillion. so, call it 100% of gdp. it's a nice, round