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tv   The Claman Countdown  FOX Business  August 27, 2021 3:00pm-4:00pm EDT

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more we learned about it the more they were constructive, how these insiders made big time money out of the gate. it doesn't feel right. i really believe something doesn't happen these spacs don't come back on their own we could see some serious investigations. i like the outfit, you can't wear that after labor day though >> i'm going to anyway though, i'll be walking around with you buddy. charles: all right liz claman, over to you. liz: joan rivers, fashionista, okay charles. okay no white after labor day. sounds a little furious, thank you very much my friend. okay, guys it's friday. taper tantrum, what taper tantrum even though fed chair jay powell says the u.s. economy can now withstand the winding down of stimulus put into place at the height of the pandemic, that's got the s&p 500 and nasdaq looking at new record closes. dow is up 231, s&p better by 38
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points, the nasdaq up 189. former atlanta fed president dennis lockheart is here to give us the hidden messages he heard in powell's virtual jackson hole remarks. is there a timeline here, and are we really going to see tapering this year? the president's national security advisors warning of more terror attacks just one day after the deadliest day since 2011 for american troops. what we're going to do is take you live to the white house for up to the minute details and developments and get the threat assessment from one of the nation's top experts on afghanistan's terror network and when we say threat, that includes u.s. companies with global operations. plus, a big win for the little guys, but does apple settlement with small app developers mean anything at all and its epic legal battle with the create or of fortnite? tech genius john mayer is here to peel back the skin on apple's deal, but first, breaking news, we do have oil prices speaking
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in the after market as we kickoff the final hour of trade on news that ida is now a hurricane. so you've got crude moving higher by 2%, the storm making landfall on on the aisle of youth in the last hour and then it's going to head as we understand it for the western edge of cuba, with sustained winds of 75 miles per hour. it could strengthen as it crosses the gulf of mexico, the path indicating landfall sunday, somewhere on the louisiana coast. evacuations of offshore drilling sites on the gulf of mexico are underway so we'll get you a check of oil stocks in just a moment that have exposure to the gulf. but in the meantime, a fox business alert, the bulls are kicking off happy hour a little early on this friday, the markets jumping for joy popping higher after federal reserve chair jerome powell's virtual state of the economy speech, so-called jackson hole symposium, this morning. the russel really getting the nicest bump up about 3%, powell struck a very careful, but positive tone, saying that
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the economy has, "met the test of substantial further progress in its fight to claw its way out of the pandemic hole" but remember, i said careful tone. while powell said reduction in emergency measures could start this year, he issued a warning that in essence said, we're not going to jump the gun. >> if a central bank titles policy in response to the factor s that turn out to be temporary the main policy effect s are likely to arrive after the need has passed. the ill-time to policy move unnecessarily slows hiring and other economic activity and pushes inflation lower than desired. today, with substantial slack remaining in the labor market and the pandemic tip use continuing such a mistake could be particularly harmful. liz: so powell gave zero timeline because he still believes the rising inflation that we've seen in food and materials prices is temporary but in his first interview after powell's speech st. louis fed
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president jim bullard telling edward lawrence of fox business bubbles are forming and it's time to slice those bond purchases listen. >> i'm not sure these purchases are really doing anything. at this stage of the recovery, because we do have this in sip yet housing bubble that i don't want to be feeding into that. i do think that the most important thing about this is when you get done, what is the date at which you want to make your last purchase and i'd like that to be at the end of the first quarter. liz: speaking for the first time since both interviews we're joined by the former president of the federal reserve bank of atlanta, dennis lockheart. you know, dennis, it was almost as if chairman powell was very gingerly walking this line. yes, we could start tapering, but don't get any big ideas. is it or is it not time to get going on tapering? >> i think he came out pretty clear.
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he said that it will begin some time this year, which means they will probably make an announcement at the october meeting, possibly the september meeting, and begin not too long thereafter, so that's pretty, i think pretty straightforward, pretty definitive. i think you're correct, he did walk a cautious line in that the overall thrust of the speech was patience, stay the course, don't react to short-term developments. liz: but you know, we're looking at inflation, and he keeps talking about disinflation which is a slowing down of the rate of inflation, but in just the last hour, the white house economist announced they expect consumer prices will rise what, 4.8% in the fourth quarter? that's sharply higher than the 2 % that was predicted in may are we behind the curve already? >> i don't think so.
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i still buy the transitory hypothesis, the transitory argument that jay powell has been making. if it goes into next year, it'll be more questionable but it seem s very obvious to me that much of the price pressures we're seeing are the result of a surge in demand coming out of the covid period, and combined with supply chain problems, and much of this will ease off as the year proceeds. liz: keep a very clear in saying don't expect rate liftoff at all just because we're tapering. in fact i think the interesting points were simply that, you know, you can wind-down the bond buying which was put into place to stimulate the economy, but that doesn't mean that we are then going to just jump into rates. what if during this and is just hypothetical but it's a possibility. what if as the tapering is
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happening, we see a marked spike in inflation. what position does it put the fed when it comes to hiking interest rates? >> if they faced that set of circumstances, they could pause on the tapering, and at the same time, they be implicitly pushing back the date of lift off. in his speech, he made a very strong distinction between the bond purchases and the tapering decisions and the rate decision, and he want to, i think he wanted to separate those two decisions in the minds of the public, so the tapering does not imply anything about an imminent increase in rates, although i think many of the fed speakers are thinking that you have to finish tapering before you start raising rates and they would like to do that next year.
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liz: do you see a housing bubble we look at very low mortgage rates for more than a year, very thin inventory. very large number of buyers, fewer sellers, and so you have bullard in essence saying there's a housing bubble here and we're looking at home builders those stocks have been popping. are you worried you're seeing kind of sort of bubble behavior and we need to skim the froth? >> i like your term bubblish behavior. i think there's some bubblish characteristics in play. to call it a bubble that is always difficult to call a bubble in the middle of a market of some kind. one person's bubble is another person's very strong well-priced market, so let's just say, you know, housing prices have risen and they are high. whether that constitutes a bubble or not, i don't know. liz: okay, the labor market. he mentioned that we have seen clear progress in the labor
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market and it is no surprise that we still have 6 million people who don't have jobs who did have jobs before the pandemic, so suddenly, he is very focused, not suddenly because its always been a mandate, and very sort of full labor market. he's very focused on that at the moment, but do you think if he waits too long for that to look as good as he needs it to look, that we will have a problem, dennis. >> oh, it's possible i suppose. i think you're pointing to a very important aspect of the fed 's policymaking right now in these months, and that is they are going to be patient to ensure that the outcomes in the labor market achieve their objectives. that's something, to some degree , a change from earlier ways of conducting policy, last year's steve: that strategy that
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unfolded really emphasized that so it's possible that there's a policy error, but i think we should expect, as they are going to be patient in order to close that 6 million gap of people who were employed before covid and now we assume are looking for jobs. some may not come back to the labor market, but most will. liz: dennis, you can't see the screen, but we had your quote about bubblish. i'd said bubblishous but i like bubblish better so i think you made up a word and i'm sticking with that. dennis lockhart, former atlanta fed president thank you very much for joining us and as we watch the markets spike and sky rocket this is a broad based rally while the federal reserve works to figure out the nation's monetary path forward the nation is mourning the loss of 13 service members. this is a live look at the white house where the american flag is
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flying at half staff. yesterday's suicide attack at the kabul airport in afghanistan was the deadliest day for the u.s. military in 10 years, and today, president joe biden's national security team says that more terror attacks there are likely. we're getting more clarity by the hour, by the way, on the death toll in afghanistan. the numbers are going in one direction, and that is higher. in addition to the 13 u.s. troops killed, 169 afghans are confirmed dead in those twin suicide bombings, carried out by radical group isis-k. let's get to hillary vaughn, whose at the white house watching every development she is live. hillary? reporter: hi, liz. well the threat in afghanistan is certainly not over and the president was briefed by his national security team today and in that briefing, he was advised that it is very likely that there will be another terrorist attack in kabul, so right now, the u.s. military is engaging in maximum force protection at the
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airport, white house press secretary jen psaki saying moments ago, it's clear that something went wrong in the security process, that the u.s. is entrusting the taliban to handle outside the airport. >> we don't anticipate the afghan national security forces would have folded as they did. we didn't anticipate that, and as a result of that all happening we saw a chaotic situation just two weeks ago. there are consequences to any of these difficult choices and decisions. that's what faces you as commander-in-chief. reporter: she was asked if working with the taliban was the u.s. military's best option or only option and she replied, maybe both, but even though they said the threat is still there, and u.s. troops are actively in danger. they will continue this evacuation mission. >> it's a worthy mission because they continue to evacuate folks out of that region, out of the airport, got
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a detailed briefing by yesterday 's attacks and the measure they are taking to protect our forces and complete the mission, and we will complete the mission. reporter: but liz, that mission has a firm end date, troops out by tuesday, the white house still says they are not willing to negotiate their deadline to pull out from afghanistan on the 31st. liz? liz: hillary vaughn live from the white house, thank you very much. folks we are now getting reports that hurricane ida could bring up to 11-foot storm surges outside the levies in new orleans so preparations are underway, but before it hits the coast of louisiana, dangerous winds and heavy rain will first take aim at oil on the gulf coast. evacuations ramping up right now , that ida has achieved hurricane status so we are going to get our floor show traders in front of their cameras to get their thoughts on how to bat on down the hatches on your portfolio for both ida and the federal reserve, with the closing bell ringing in 47
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minutes, the dow charging higher by 252 points but it's the s&p and the nasdaq that are on track for brand new record closes the "clayman countdown" is coming right back. as someone who resembles someone else... i appreciate that liberty mutual knows everyone's unique. that's why they customize your car insurance, so you only pay for what you need. oh, yeah. that's the spot. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ ♪ ♪ experience, hyper performance that takes you further. at the lexus golden opportunity sales event. get 0.9% apr financing on all 2021 lexus hybrid models. experience amazing at your lexus dealer. that building you're trying to sell, - you should ten-x it. - ten-x it? ten-x is the world's largest online commercial real estate exchange. you can close with more certainty. and twice as fast.
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liz: breaking news, major oil companies with a presence in the gulf of mexico are ramping up evacuations at this hour of all non-essential oil workers because of what is on your screen to the left. in the last 52 minutes tropical storm ida which is now just at cuba, and this video on the right is video from cuba, that has just come into the fox business newsroom, the tropical storm has morphed into a category 1 hurricane and as you see it is heading straight for the gulf of mexico. now, bp, bhp, chevron and royal dutch shell are all moving workers out of the region, and b hp, bp and shell have completely shutdown production. the shutdown directly affecting gasoline prices which have risen in each of the past two trading sessions.
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the area around the gulf is key for the oil industry, as more than 45% of refining capacity in the u.s. lies along the coast. now, as we bring in our floor show traders phil flynn and tom haze can we put that radar backup and i'm asking for that because you can see , guys it is supposed to hit louisiana sunday , and it will be, according to this radar, a category 3 hurricane. obviously a significant ramp up right there. phil we're seeing oil prices spike, what else are you seeing and how will the markets endure what is about to happen? >> well, you know, we're going to see more shutdowns of production as the oil companies try to get out of the way. crude oil, right now, 58% of the production is down. i would expect that by tomorrow, it could almost be 90% if not totally shutdown in the gulf of mexico. i think when it comes to oil platforms, if you look at the track of the storm, it's going through some of the biggest
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platforms in the gulf of mexico. they are going right in the storm is right over them, so for shutting them in it's very important. now the good news is that the industry in recent years is a lot better at this. they had a lot of practice and what's really erie about this storm, it's taking the exact same track that hurricane katrina did 16 years ago, which was a devastating blow to new orleans we all knew. that storm of course was a lot larger than this storm, but there's a lot of memories in the oil industry of the impact of that storm and they learned a lot from that storm, and sadly, you know, the hard way. liz: that is very true and as we're looking at this , it looks bad enough. that's for sure, category three is nothing to sneeze at here, heading for grand aisle, morgan city, and then as you say, new orleans, tom heys is there any sort of historical perspective of how these storms hit the overall broader markets and
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is the storm of the fed which kind of turned out to be drizzle , today, sort of having more power on what's happening because we've got a very significant stock rally here right now. >> yeah, no question about it. well, liz what you're seeing here is as you said 59 oil productions is shutdown that's going to increase but we may get relief next wednesday in the oil prices as opec plus meets and they are expected to follow through with their increasing production plan of 400,000-barrels per day each month through the end of 2022 so we may see this short-term spike in oil, but then opec may take some of that off by putting production back on next week, so that'll be good, if you have any money to work in this sector, i like high-quality eog, diamond back energy, pipeline's energy transfer and on the refiners phillips 66. as it relates to the fed what we're seeing today is all the
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doveish taper, and you're seeing reopening trade come back in full force, with small caps which have done nothing for six months, they're flying today and then energy stocks, so we like boeing moving forward they just got approved in india yesterday for the 737-max and china in the process, so we think this stock has legs over the next 12-18 months. liz: all right great to have you both and i know i keep sort of hitting the russel here but it's up 3% folks for the small and mid caps thank you both have a good weekend tom and phil. peloton speaking of the return to work, or stay-at-home stock play, peloton at this hour on revelations the government wants more answers about just how many people might have been hurt by its treadmill and other products details straight ahead with the closing bell ringing in 38 minutes, the dow is up 263 points right now, the transports
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liz: fox business alert. we got to call inaudible here, look at the intraday of the nasdaq, the nasdaq is at session highs this second up 198 points or 1 and 1 third% and the workday for powering it higher the cloud-based human resources software providers at the top leader board point getting the job done right now for its shareholders, workday on track for its biggest single day percentage jump in nearly a year , how much? 19.6%. today's surge coming after better-than-expected quarterly results which included a 23% pop in subscriber revenue from last year. workday taking aim at its eighth straight sessions of gains nice
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$23 and change move there. meanwhile, peloton sweating out a new twist in its treadmill controversy shares of the high-tech fitness equipment maker plunging about 8.5% i believe that's not the session low as bad as that looks in reaction to news that the departments of justice, homeland security, and the sec are all in vest it gating injuries including the death of one child that came from accidents involving peloton's tread plus. add in a pretty significant miss on profit estimates as well as disappointing revenue , subscriber figures and guidance and well, you get the number you're seeing on the screen right now. peloton currently down $9.68 to 104.41. food delivery stocks stalling out at this hour after new york city's council voted in favor of licenses, and permanent commission caps when it comes to how much everyone from grubhub to doordash and uber eats can charge the restaurants they work with. the ceo of grubhub parent just
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eats firing back at the new requirements via twitter saying these caps will only lead to higher prices for consumers, resulting in a reduction of orders for both restaurants and just eat taking the biggest hit right now, ticker symbol grub. down 7 and 1/3 percent door doordash down 1.7 and uber turned around by about a third of a percent. when will these learn, price controls don't work. move over gamestop and amc the reddit is taking up a new name, actually climbing all week long but right now, it's up 52% and has rallied more than 400% this week alone courtesy of a social media driven short squeeze. the hype also being fueled in part by the crypto markets bounce back as is a company that looks to seal a deal on its planned reverse with bitcoin miner green ridge
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generation holdings a shareholder vote on the deal is scheduled for september 10. taking a look at cryptos, that bounce back in full effect at this hour we do have bitcoin up 2.5%, 48, 374, ether up 3 1/3%, up next, what does the re emergence of this isis-k group this off shoot in afghanistan, really mean for the security of american businesses both at home and a broad? we take a deep dive with one of the top america's longest war, is your business prepared with the right security? we're coming right back, don't go away dow is up 246. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. your strategic advantage.
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liz: breaking news we want to peak in on the pentagon where they are holding a briefing air force general glenn van herk is saying pretty much some details
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giving out logistics about the refugees, we are waiting any clarity or detail on what happened yesterday. these twin suicide bombers from a group known as isis-k which is taking credit for the deadly suicide attack at the main gate at the kabul airport. right at the entrance. what is isis-k and does it now pose a major threat to not only u.s. troops and citizens but american businesses at home, but who also have operations abroad. here to help us wade through the looming damagers bill roggio , the senior fellow at the foundation for defensive democracies, bill what can you tell us? what do you know about this isis -k group? >> the islamic state province, it's an element of the islamic state's global network. it has several thousand fighters inside afghanistan, and it is a dangerous organization, as we saw it yesterday, but the threat
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from afghanistan by isk is more localized, and look, to me the real threat in afghanistan is the taliban, and the taliban because of its relationship with al qaeda. the taliban al qaeda relationship has endured it is not diminished, as president biden has stated. this has been a talking point for three successive administrations for well over a decade now. they have sent this in order to justify the withdraw from afghanistan, after all you can't leave afghanistan if al qaeda is still strong there. but then again, i'm not discounting the threat from the islamic state out of afghanistan, but i just want to reiterate that threat that the taliban controls a state now they did this with the help of al qaeda and that is the real threat that we should be concerned about that we should focus on and one more point quickly on the islamic state, there's credible reporting in the united nations that the taliban has used the islamic state in instances to carry out
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suicide attacks inside afghanistan, and what this does is they used them as a cut out and to give it plausible deny ability and if that is true and i'm told it is, then this makes the taliban even more dangerous. liz: well we were hearing from the administration that isis-k is the arch enemy of the taliban and this goes back to the enemy of my enemy is my friend. the u.s. government is saying well we'll work with the taliban to keep this isis-k group at bay are you saying that is completely off base? >> absolutely off base. this is the two successive administrations have decided that they can negotiate with the taliban, as we've seen the taliban haven't lived up to their word. they took control of afghanistan that wasn't what they were supposed to do, u.s. officials believed they would do. they maintained the relationship with al qaeda. yes, the relationship between the taliban and the islamic state is very complicated. yes they are enemies and fought
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at times, but so what the administration's policy is, is we're going to use one terrorist group that uses suicide bombers that's the taliban. two, protect the american citizens in afghanistan from another terrorist group, that's the islamic state that uses suicide bombers. that is a recipe for failure, and that is a reason why we lost 13 service members yesterday. this is part of an insane policy that spans multiple administrations. the taliban has always been our enemy. they've remained closely in bed with al qaeda, and they are ignoring this threat in order to justify withdrawal. liz: well i wanted to hear it from you but you don't have to sell me. i always felt this way about these people, but you've got to clarify for us, because as we are learning, it was actually one suicide bomber. we have so many multinational companies based here in the u.s. who have operations either in the region, or in
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regions where they are able to extend their tentacles. would the next type of attacks look the same as the one that we saw outside the kabul airport, and, you know, as a follow-up question, what should american companies be doing to step up their security right now? >> yeah, so these types of attacks have occurred against corporations in africa, in the middle east, i mean, remember there were suicide attacks at saudi arabia over a decade ago. the goal of al qaeda and the same thing for the islamic state, they are both, they both share the same goal they are just opposing organizations. it is to take over individual countries, make them part of their emirate, make each part of the global caliphate. that is the plan. afghanistan is now one of those , they are attempting this in yemen, syria, and you know, i could go country-by-
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country where they are fighting active insurgence, so the threat exists in all of these countries but in countries even where they aren't waging insurgency. the security has to be, this is something that existed since 9/11. i be very concerned about my employees, their personal safety , and increasing security at headquarters, and other facilities. liz: but there's so many companies look at security as sort of an operational division, there is very little high level reporting, meaning going up the chain and telling the ceo on a regular basis, where we stand, what kind of threats are imminent, et cetera, what they know, or any accountability, do companies have to become more vigilant now that we see what's going on in afghanistan? >> yeah, i mean look, i think countries or companies should have been vigilant on this post- 9/11 and you know, because again, these threats have been happening. we seen hotels attack, look what
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happened in mumbai, where they attacked multiple locations in a complex attack. these attacks have been happening. one of the problems i have with the , again, successive administrations down playing al qaeda' presence in afghanistan is that it gives it a false sense of security. the businesses, people listen to the american government, the american intelligence community, and when they're down playing threats look at president obama in 2013 when he called the islamic state the jv team and that they weren't a threat to the international community. they were only concerned about waging local jihad. it's these types of assessments given in order to justify policies of withdraw to end the so-called endless wars. look we can end our involvement in these wars but the enemy gets a vote and is going to wage an endless jihad against us and i think the businesses are soft
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targets. they need to take these threats seriously. liz: unfortunately, you are 100% correct. bill roggio, thank you very much good to see you thanks for the clarifications and information. goliath making a deal with david but will apple bend to fortnite create or epic games as the tech titan and game maker await a verdict, tech wonder kid john meyer is reading into it when the "clayman countdown" comes right back. yes, we will check on tencent, yes we will check on apple stock and so much more. closing bell ringing in 18 minutes, the dow is just charging ahead up 230 points, nice friday rally here for the bull. we've got you taken care of, sgt. houston. thank you. that was fast! one call to usaa got her a tow, her claim paid... ...and even her grandpa's dog tags back.
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liz: we should throw disney in there too all three jumping right now on a report that disney-owned espn is exploring a potential deal to license its brands to major sports betting companies, now any deal could be worth at least $3 billion, the wall street journal has come out with this report saying espn has already helped talks with major names including draft kings and caesars, so we've got draft kings up 3.5% and climbing caesars up 4.5% disney climbing 2%. up apple is in the green as well after what some are saying not everybody but some are saying a major policy shift. the tech titan announcing it will loosen app store restriction as part of a proposed lawsuit settlement with app developers who for quite sometime have been fighting apple saying that they are charging way too much for commissions, et cetera.
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now, the agreement will allow app creators to communicate with iphone and ipad customers, about other ways these customers can pay outside the official app store, which charges most of these apps, about a 30% commission, but apple will keep its 15% commission for companies earning less than $1 million for three years. the deal does not cover the current legal battle between fortnite maker, epic games, whose been very noisy about this , epic games, of course owned in great part by tencent and apple also over its app store policy, some critics are already arguing that this class action settlement is not enough, but i can't wait to hear, when it comes to davis and, david and goliath battle star ship capital manager partner and create or john meyer's opinion, okay, john, because for those of you who don't know but if you watch our show you should know, sold that flashlight concept as
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an app, to apple. so, you're in a perfect position here. you've known this game for quite sometime. what do you macon the headline news about this settlement? >> well i could say with confidence deep into the developer community the consensus is really somewhat of a luke warm reaction. i think that it's immensely positive that apple is commit ting to this $100 million fund for small developers which is essentially the bulk of the settlement, where developers going back to 2015, can get paid depending on how much they've earned in the app store up to $30,000, and i know many developers who take advantage of this. there are other aspects to this deal, that i will mention, two specifically. that is the one that will allow developers to actually send e-mails or other ways of communicating to users to side
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step apple's payment method. and then the other is that apple will expand the price points that developers can actually offer apps. you know, again the reaction amongst the developer community is largely luke warm, and that is that because first of all to state the obvious this is u.s.- only. apple has hundreds of thousands of international developers who will not be able to par take in this settlement fund and then the other aspect here that has created this luke warm reaction in the community is simply the fact that apple is only committing to three years to make that commission 15% for the developers making up to $1 million, and obviously, the 30% commission for developer s making more than $1 million a year still remains, which leads us to epic games lawsuit where they are really trying to nix that 30% commission as quickly as possible, to increase profit
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margins. >> well let's just cut to the chase here, the coalition for app fairness and yes there is a coalition for app fairness is calling this a sham settlement. they don't like it and they don't care about the $100 million fund that supposedly is setup as part of this settlement for the smaller app developers, but you know, at the moment, it is a free market, and we're torn when it comes to this because i personally just said at the top of the show how ridiculous it is that the new york city council is trying to put a price cap on doordash and what they're charging for deliveries, and grubhub, and uber eats. let the free market work. it's just that apple is in a way a monopoly at least when it comes to the apple store as people look at the model. is there a better answer when it comes to fairness here? >> well i think the better answer and this is where apple and even apple's hard core fans don't want to admit, but there is a reality where apple can
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produce a process in which they allow other app stores to compete on the iphone and ipad platform, and apple likes to say for apple fans like to say this will impede our security, but there are ways to do this that'll make it secure, with proper review programs, proper technological protocols, and having the right teams in place, i think that's apple's biggest events in the epic games trial that this is a security concern to have multiple app stores, but the reality is, it can be done and it will increase competition. liz: well, the settlement was actually involving the same judge who is weighing the epic games, that of course is judge gonzalez rogers, so very interesting to see that there's some wiggle room at least on one part of this one piece of this puzzle, in the end though as we look forward we know that
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big names like match and spotify , along with epic games are absolutely happy abdomen and continue this site. john great to see you thank you very much. >> thanks. liz: john meyer we are coming right back with our countdown closer bubba horowitz. with a name like that you've got to hear what he has to say. ♪♪ ♪♪ ♪♪
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liz: four minutes to go before we close out a wild week of trading, the s&p 500 and the nasdaq have completely erased yesterday's losses, and it appears will close at new all -time highs. for the week all three major indices will be higher as the nasdaq snaps its two-week losing streak, so, nice moves for all, nasdaq looks like the gainer here, looks like it'll be up about 2.8% for the week. speaking of the week all week
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long markets waged an you'll hill battle against the hand ringing against potential tapering by the fed the delta variant and yesterday's deadly bombing in afghanistan so if you are proceeding with caution, our countdown closer says he's got three etf's that will keep your portfolio out of harm's way. todd bubba horowitz, host of the bubba show is the man who has those three names and i'll let you put these out there. all right? go for it. it's great to be here. liz: then i can get you up on it >> please give the fed the message to let the free markets work as well will you please? that be great. i'd love to hear that. in the meantime, i think there are times you have to pullback a little bit, we're coming to the end of summer we've got a market that continues to just climb higher, i think you're seeing a lot of risk in some of the individual names. i still like the draft kings and gambling stocks and still like bitcoin, however, now if i'll put new money to work i'm putting it in the etf's and i think the three major etf's the
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iwm and the spy, and the q 's are the best and right here, the best value i think is an iwm, because that's a small caps that have really gone nowhere since february. so we're on eight months or seven months of doing nothing and either we're going to break to the upside or the downside but i think if we continue to move, these small caps are going to catch up and see new money start flowing in but any one of the three oral three i think are great plays. i own them myself i would continue to buy them because they do offer a small dividend and i think they can help you as these markets, to navigate whether the markets are going up and inflation, are they going out on money supply or really going up because we have great fundamentals? liz: this looks like an extraordinarily cautious suggestion here, because i mean, the spy, the s&p, you know, the index there you're taking a big risk jumping off a pancake, i'm kidding you know i adore you but i just want to know, are you pulling a buffett?
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that's the guy who says listen you'll do better than the fancy guys charging u2 and 20% the hedge fund and the fund managers simply by buying these index funds. is that where we stand right now >> i think for new money, it does, liz. again, i own draft kings and i own cryptocurrency representation and others that we've talked about over the months, but i think now, for new money, we're coming into september, and september could be rather hairy and october, now i'm not predicting anything. these markets are going up until they don't, but in the meantime, i be a little bit more cautious here, a little bit more careful because there's a lot of things besides the variant, besides what's going on in afghanistan, in this administration, you know there's all kinds of talk going on, that could create some bad news, and i think you just have to be very careful in here, and i think you want to be in the position to put your money in more safety spots right now. liz: well, september and october are known as the stock market danger zone, today bubba
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horowitz, great to have you here comes the closing bell the s&p and the nasdaq, appear to be wrapping up the week at all times highs, that'll be the 52ne s&p. >> [closing bell ringing] liz: 31st record for the nasdaq next week a lot going on it will not be a quiet end of august. so, that'll do it for the "clayman countdown." kudlow is next. larry: hello, everyone. welcome to kudlow i'm david asman in for larry kudlow. the nation is in mourning 13 american troops killed in afghanistan yesterday and officials are warning president biden that another attack in kabul is likely before the 31st. despite the risk the u.s. military continues evacuation efforts as that august 31 deadline looms. let's go to hillary vaughn at capitol hill for the very latest hi, hillary. reporter: hi david well the threat in afghanistan is not over the president was


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