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

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not we exceed the expectations for both companies. both companies have issues, apple has issues with supply chain and chip shortages and amazon wants to hire 150,000 more workers in the labor shortage, that could be a factor, revenues for advertising are up. i would expect things to continue especially with the rates coming down. lauren: that does it for making money, liz claman conduct to the closing bell right now. liz: look at all of these numbers, you see investors on a market playground at this hour. the most popular ride to c cell. talks are mixed, we have the s&p third straight record close. any gain will do it, the dow is down 111 points, the nasdaq is within points of its own record. the dow is on track for the three day record run. there is so much going on. twitter getting hammered all session long. is the selloff overdone or is
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twitter somehow cooks for now? their ad revenue was so good. what about that. how high can spotify fly, now that squid games player are cooling their jets ahead of season two, another season two is ready to roll. can "tiger king" to solidify the streamer as the emperor in streaming land? rich greenfield says one of all of these things i just pointed out is absurd is about to tackle all of that and more. wall street hangs onto every tweet he is here on the breaking news. the world can no longer refer to u.s. automakers as a victory. they have got to say the big four, the undisputed heavyweight after joining the trigon dollar market cap plus. about to report "after the bell"
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in gmc reporting supremacy, our auto panel with gm versus ford versus tesla. the dow would look a lot worse in the spinal hour if it weren't for mcdonald's and microsoft. you can think microsoft and google for keeping it comfortably in the green. two thrilling investors which is a sparkly start turning season. mickey d's up 30% and microsoft up 7%. but chevron which is a dow component and exxon mobil no longer a dow component lagging to the concept of $100 a barrel oil becomes common wall street parlance. top firms had an investment conference warning about higher and higher inflation of the world's top asset manager wayne and blackrock larry fink who championed the green energy movement saying there is a high probability of hitting $100 a barrel oil prices.
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definitely in the realm of possibility considering the energy has run up this year oil up 75%, gasoline up about 80%. in natural gas up 121%. which area, which part of this complex is best positioned. >> let's bring on stephen, two are for show stephen sherk and teddy weisberg, for the moment let's begin with stephen short, talk to me specifically about what do you think larry fink's comment means, it is not original people said $100-barrel oil and today we see crude moving lower. >> what were looking at with the amount of volatility in the market we are looking at our models there is a 13% probability that we will get to $100-barrel of oil by the end of the year. the market is betting that way. it was to april's ago the oil in the united states hit minus $40
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a barrel. since then vets on $100 oil sometime through 2022 have risen 5000%. we have 28000 contracts outstanding betting on $100 oil at sometime in the new year. when you look at the amount of demand that hit the market much faster and much stronger than the market anticipated and we have yet to see the supply response. we will continue to see a supply response for varied reasons. to quote william yes, sir lee, markets reconcile the choices of married individuals. the choices that we made here in north america and europe to decarbonized has set sc for higher prices in the future. liz: llc taking a large stake urging a breakup with the two
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companies to retain and attract investors at least he said a lot of people are fleeing as environmentally friendly. royal dock shell, will this breakup, extended be strong enough to do that? >> i am doubtful of that. we can all sit down and i know that is the matter right now, fossil fuels. fossil fuels is what stage of the economy, you cannot have a clean earth in a clean environment if you don't have the wealth being created. renewables are great, this is the route we are going but as we saw in europe, renewables are highly unreliable. every 20% decrease, the wind is not blowing so you cannot keep the lights on unless you have a fossil fuel to backstop that. fossil fuel demand is not going anywhere it will continue to grow, as the waistcoats on the fetish to decarbonized at a
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celebrated pace there setting the market up for volatility in the years ahead the pressure to shut split up shell, they will come under pressure but you would need 70 to bring up fossil fuel to keep the lights on and keep wealth generated around the globe. liz: we have crude shrinking tenant have%. that's tackle earnings they have been good on paper microsoft, google came out this morning ford, ebay, aflac, 81% of s&p data reported so far have beaten estimates. one week from today the fed is going to reveal when tapering begins what is that going to do to market optimism? >> this is been looked at four months and we still do not know what the final outcome will be
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in the plan going forward. i think a lot of this is priced into the market in general. i don't think corporate america is too concerned. i'm sure they're concerned what the fed does we are all concerned with the fed the fed is playing long ball corporate america explain intermediate ball i think the fed is more concerned -- corporate america is more concerned today about inflation which is a big problem in the supply chain of getting goods from point a to point b. these are the immediate problems for corporate america. so far they dealt with a pretty good but the real key for all of us in the earnings. it's at the bottom line is a topline it is the guidance going forward markets discount the future and in terms of corporate america don't tell the whole story. if the guidance is good, certainly the companies and the
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stocks will get rewarded. i think we see a lot of negative into the guidance and allies graded by number one inflation and the ability of price increases along a number two, the supply chain problem. liz: if inflation hits a consumer, you will see them zip up their wallets, we have our bob gasoline hitting a 52 week high, which area is best able to catapult itself up to investors. >> refiners are attractive now but the concern that inflation is running at an annualized basis, we just got news yesterday that this is going to be perhaps the most expensive thanksgiving meal ever. when you look at these parameters, if we do get it, the market goes to $100 a barrel, that adds another 20 cents to the pump. the national average of aaa is $3.20. we will look at $3.60 a gallon
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by the end of the year, that is a good margin for the refinery, and the gasoline station, the margins are cheap. certainly crude oil producer both national oil company and russian are going to benefit in the big key is lng, natural gas thanks to political maneuvering over the eu which raise the cost of carbon 130 - 140%. natural gas earlier this month traded the equivalent of $230 crude oil. essentially you can buy $6 natural gas in the u.s. and ship it to europe and sell it into a 30 - 35-dollar market your shipping and selling that you're doing well. liz: you have not gas up 10x. it's unbelievable. s&p turned negative, down 121 points down. robinhood taking from the bull
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to pay the bear. robinhood shares dropping ten and a third%. they are sitting below their ipo price of 38 a share there at $35.48. as the brokerage missed on both top and bottom line for third-quarter results. robinhood warns trading will continue with the slowdown encrypted transactions they plunged and took a toll on revenue. dogecoin was trading crazily. it is calm down a bit. i is urging robinhood to lift the coin on its site, the dogecoin killer is soaring to a new record at this hour capping the surge of 60000000% over the past year end now has a market value of 26 billion. right now looking up nearly 40%.
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the price is a fraction of a fraction of a nano penny. i just made that up. you can trade on coinbase, the crypto exchange had conductivity issues earlier in the session due to the popularity of the coin. the company says it resolve the issue and the site warns that mining fees for a lot of these crypto names are very high, you have to pay a steep fee to buy some of the names. quite based on 2.7%. at the bottom of the dow despite earnings, visa losing 6.5%, the payments giant released a conservative revenue growth forecast for full year 2022. but when under pressure after reported a wider than expected quarterly loss, the aircraft maker said flaws in the 787 dreamliner would generate a billion dollars in cost and the cutting production as it attempts to get quality control in order. this is a good thing.
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the chip shortage taking a bite out of general motors. is the rearview mirror looking? the auto giant aims for a grand ambition overtaking tesla in the ev world but with ford about to report earnings, the expert auto panel is here on whether gm or anybody else has the force power to pull the plug on the ev leader. closing bell 49 minutes away. the dow is steadily falling, now down 154 points. "the claman countdown" is coming right back. ford versus gm versus tesla, you've got to hear it. ♪ (rhythmic electro rock music) (crowd cheering) - bito, bito, bito, bito! - [announcer] bito, the first u.s. bitcoin-linked etf.
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liz: 45 minutes away from ford reporting numbers after the closing bell, down about 2.5%. expected and hit from the chip shortage like we talked with general motors this morning. gm strong third-quarter and forecast full-year results will be at the high end of the previous guidance. but right now gm shares are falling. down 4.6% as ongoing chip
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shortage cut into quarter sales and car production. tesla still racing ahead after becoming the first auto company to surpass a trillion dollar market cap shares moving to the upside by 1.6%, of the three gm, ford, tesla, which is the best long-term pick and is there room for more. to our analyst, wells fargo's director and senior equity analyst for the auto sector and michelle, automotive executive analyst with 35 years of experience covering the global auto market. first up what your expectation for for? it'll be a really tough order. they had significant sales decline and even more important that a sales decline in the pickup trucks i think that was the second consecutive quarter and that's where the bread-and-butter is. it'll be a tough quarter and what were looking for is when are we out of this. that's what everybody is looking
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for. liz: : you have an overweight for ford and general motors. i believe you have an equal weight for tesla. let's talk about ford and general motors if you have to pick one or the other what do you like? >> i do think both are doing a good job i've been covering the sector for over a decade. it is pretty is amazing, you are really doing a great job on all the key things, in the meantime ford is a better position. they are catching up doing an amazing job, they are perceived as lagging on edie's but the mock ease is an offering for a traditional automaker that would be a desire to buy. the tiedeman's unit is one of the top players in the tiedeman space. next year they got hit pretty bad so far this year with the semi issue that means there's a good set up as they get caught into next year. liz: to the point general motors chip issues were last quarter,
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there might be a vapor trail of that but here's what the ceo of gm told us it was a problem but here's a she's doing now. listen. >> we have a lot of impact with covid hitting the countries in southeast asia that caused them to shut down which further impacted our supply chain we worked with the company shared our safety protocols and their up and running again. liz: is in itself gm at your own peril if these issues are working their way through? >> these are issues they have to work there and the other thing that we have to remember inventory across the industry is the lowest since 1980s, even when we get production going again which we see signs of mgm had said all of its plans will be running next week, we have a big pipeline and a lot of demand out there, we have got to get the product out there. liz: the product that people
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want right now in some cases are all electric. calling you look at the ford f150 the all electric gm is going to come out with all electric silverado. talk to me if one is better position to the other to go ed and if that is the right path. >> i definitely think the industry is moving toward ed, is definitely a question on the trajectory i think gm has a head start they started several years ago, there under third-generation, they have battery plans and they will be online during the ev hummer, i think they are definitely into a very strong start and as i said earlier ford is underestimated on their ed strategy. i don't think they're that far behind. i think both are well positioned but gm seems to have a head start. liz: michelle i know you want to talk about tesla, tesla has a head start when it comes to pes that's not necessarily a good
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thing price-to-earnings ratio at the most expensive, where do you stand on its positioning and whether gm is going to put his money where its mouth is and walk the walk talk the talk and take over tesla as the leader in >> gm is not alone and trying to take over tesla. tesla has 70% of the ev market, the ev market hybrid is growing even more so. everybody is going to be offered tesla. 70% market share is not sustainable in the u.s. everybody is going to be coming after a little bit of it ford and gm, all of the established makers in all of the new upstarts. the fisc are, luis, vivian, they will be coming after tesla as well. liz: it is gotten crowded, great discussion, thank you very much,
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for coming out "after the bell". we do have an increase in the losses for the dow jones industrial down 213 points, ted lasso trying to get back into the premier league and season to of the tv plus hit but the tech titan anywhere close to knocking the crown of the head, top media analyst rich greenfield is just in a few minutes. he is about to make a serious declaration about nap stock. surprise snafus as bottlenecks of the top, kelli o'grady live in napa valley when we come back. again, were looking at a lot of red on the screen, the dow down 200 points, the russell is down in the red as well and same with s&p. we are coming right back. dependt financial advisor, i stand by these promises: i promise to be a careful steward
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liz: more sobering challenges in the supply chain the wine industry. more sobering problem see what i did. the wine industry facing major volvo next. venus applies like gas bottles and wood barrels are very scarce at the supply chain crunch has reached the vineyards in napa valley. we are at a winery in california. >> california that the perfect storm, the demand is certainly there we saw how the pandemic increase consumption as we dealt with it that way. not only is wine country dealing with the supply chain it's in the midst of a severe drought after a very dry 2020, it is expensive the worst year on record, production averages down 20% some arsine 60% but droughts are not new to the small business that defined the wine industry, the supply chain
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crisis is. >> that is difficult to come by, fertilizer prices are through the roof. we have a shortage of bottles as simple as that might sound. we have a shortage of bottles. millions of dollars of investments that these folks made over many generations. hopefully it'll be resolved soon. >> you mentioned how the port shortage are leaving many venues without crucial materials add in the rising cost of fuel and shipping expenses, you left with empty shelves and higher prices as of september the average cost had risen 5.4% since last year and this is really impacting the small businesses that support this industry whether vineyards or shop owners. as the holiday approaches make sure you grab your favorite bottle as of last month pennsylvania as rationing champagne bottles. liz: pennsylvania, that is horrible. i am furious.
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thank you very much the world's largest asset manager blackrock has poured a lot of money into china to billions of dollars. charlie gasparino on why this may be starting to look like a very expensive blunder. the closing bell 31 minutes away, the nasdaq still in the green up 50 points, s&p is down nine in the dow is down 176. also those of the session. we're coming right back, don't go away.
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liz: fox news and fox business have just confirmed that the billionaire tax that was widely discussed in apparently there was agreement on with senator joe manchin the centrist democratic senator and the rest of the democratic group, the billionaire tax is out from the
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infrastructure bill as far as how to pay for the bill. interestingly, the world's largest money management firm blackrock had just spoken out about the billionaire tax saying not a great idea. let me get to charlie gasparino on this. >> this is more of a positive for the market. my sources on wall street gave it a one out of three, 50/50 chance, somewhere in the ballpark, billionaires do not pay a lot of taxes. that is one thing, bilotta support for billionaires but people thought maybe republicans would be for this tax. some of these billionaires are woke billionaires they are pushing overspending. why should it be paid by income taxes. i have a feeling there were democrats in new jersey, some in new york, some in many in
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connecticut you are saying we have too many hedge fund guys in our districts we cannot deal with this. i would just look at the breakdown. liz: let's throw it on the middle class. >> watch the politics is fascinating as is the politics of the story i'm going to talk about it, blackrock is getting a tremendous amount of pushback based on blackrock investing in china. a very critical time. it touts a straight a for responsible investing they tell people that we need all the metrics that the un says for the companies that we invested they have environmental policies that are social responsible, governance policies and yet blackrock and best making tremendous headway in china the least responsible country in the world in terms of the environment we know that they are a major polluter and the
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oppressed ethnic minority the uighurs and other dissidents, yet blackrock is making moves. two investments that is catching people's eyes, what is going on, blackrock has a decent size investment in the a.i. companies, the surveillance software companies that apparently the chinese are using, these are chinese companies that the government is using to surveilled on these. it is one company called hick vision, hi k vision over $9 million and that, $50 million and that and something called i fly tech and $9 million investment they obviously have other investments and they do have china opportunities fund. the question is this, larry fink unknown figure on wall street, i know him, i like him, maybe the most outspoken progressive ceo on wall street pushing
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diversity, corporate governance, environmental stuff is also making major major moves in a country that ignores it. by the way he may say the company is different than the country but that is not true. chinese companies are run apart by the government. liz: the government can depend. >> not only did put but the answer to the government and the government is in the management. that's all you have to look at it goes down the line. he's getting a lot of pushback on that and it's going to be a story that haunts wall street but in particular him, he's out there on these issues and listen he's out there on a billionaires tax. larry fink is out there pitching the $5 trillion worth of spending that they're planning to do. this spending bill, i don't like taxes on anybody i think the unrealized capital gains tax is a stupid idea. but to pitch it and say only
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wage earners should pay for which is where it's coming down to. liz: it is so crazy. >> they should just kill the whole thing. liz: the billionaire and real estate on monday says right here that is the stupidest thing in the world to tax billionaires. of course they're going to say that. >> the reason is stupid structurally they know about the tax i've been dying diving into it. they have a lot of irs agents for which stocks are making gains, then suppose elon musk turned around and since i put money in this thing and is losing money. i want a refund, you have to get money back to elon musk. liz: you're no longer scared of me? >> i was just kidding about that. when you are not on air i developed is it on my nose. i just want you to know, there
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is something called nasca me. if you wear a mask too much you develop pimples. liz: washer mask. >> i wash my face emma very cleanly guy, personal hygiene is a big thing for me. this is how these mask nasis are destroying america, the given us all at the. liz: your brother is annoyed right now. thank you very much charlie gasparino. by the way if you don't know what were talking about charlie being afraid of me on the set are ten round fight last week over the main stock sent social media on fire but if you like that one, you don't want to miss my everyone talks to liz podcast. it's on spotify, apple, downloaded it charlie and i discussing the sec's report on the main stock trading in all kinds of lexicon.
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i got great reviews on your podcast. with me and without me. stop screaming in my ear. liz: china's searches for squid game halloween costumes but the online workarounds are finding costumes. top media analyst rich greenfield on the netflix sensation on what it might mean for the streamers trying to catch the show and is that "tiger king" two? closing bell ringing in 19 minutes. the dow is down 179. we're coming right back with rich greenfield of light shed partners. what makes new salonpas arthritis gel so good for arthritis pain? salonpas contains the most prescribed topical pain relief ingredient. it's clinically proven, reduces inflammation and comes in original prescription strength.
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liz: twitter tumbling down ten and a quarter% after reporting earnings "after the bell" the big problem daily active users missed the mark, barely but 211 million for the quarter that was below estimates of 211.5 million twitter at $259. the social media giant reporting revenue one point to 8 billion and revenue of one point to 85 billion. but the little blue bird add revenue one big with 1.4 billion saying apple's privacy changes, no big thing. no obstacle, we have already debt tomorrow, apple and amazon ahead of it amazon tiger by three quarters of 8% and apple is flat, one of the streets top media analyst rich greenfield, let me talk a whole bunch. let's start with twitter is this
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overdone, if you do use the word to describe the selloff, what would you call it. >> i think it's a very short-term thinking, it is reacting to the fact that not the global daily active users they seem frustrated that the u.s. or the north american d.a. user not growing faster over the last couple of quarters. twitter said that instead this is going to happen coming off in a huge growth year. people want u.s. growth to accelerate, they are frustrated by. the reality the twitter product is getting better which is why usages are increasing in advertising is increasing. the investments facebook is making investments in the meta- verse and virtual reality labs and building what they think is the future of computing, a lot of risk in that and not a lot of visibility to success which i think what are the challenges investors have with twitter. twitter is very obvious what they're investing in they make
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the product better, the investment are tangible. you are seeing is getting easier to use twitter there are more things to do and communities, the overreaction of twitter feels very overdone from an investor standpoint on the quarter. but we've seen twitter go down on earnings many times before and have a very good next few months. this is an interesting opportunity to step in for twitter. liz: very quickly, this is been a story as it pertains to twitter donald trump's , can it at any point take on twitter, that is his goal to take on twitter, facebook and maybe even netflix. >> the problem that you saw with the new company it depends on if the platform supported it. while the long-term aspirations are to build out aws and all of the got to the internet. initially it's going to be using third party and the question just like parler if third-party
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shut it down because they say you're out and you never get to build your business. the same issue that parler faces, the same issue that this phase is based on its mission. we will see, we are skeptical but will see. liz: i've got to get to spotify, one year i was stocking your twitter feed. october 29 at 2020, spotify was very much in the process of basically brick by brick overtaking the entire music industry. where does that leave apple, itunes, apple music, amazon, what about the fact that you have the situation that the music industry is looking for a winner. >> i think it's a great question. when you think about what's changing in the music industry companies like apple are major players in the music space but there i inattention seems far more focused on apple tv plus. if you look at content the
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exciting part of apple on the media, my partner covers apple the stock but in terms of the content side apple tv plus and video content, ted lasso if you go to a cocktail party nobody is talking about did you just use apple music today. they're talking about ted lasso being amazing if your viewers have not seen him, it's great. there is excitement around the video product in the music product feels like it's taking much of the backseat between other companies between other priorities. spotify does one thing, all they focus on the best audio experience, music, podcasting, live audio that is all spotify focuses on. no other distractions and they win. the advertising pieces what's getting exciting and exciting investors today. liz: as great as ted lasso is,
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netflix content spending is epic. you have got to tell me where you see the next big catalyst. is it the season two of "tiger king" coming out november 17? can it be as sticky or a catch to the viewer as the first one was and maybe even bigger than squid game. >> netflix was supposed to have, they were telegraphing for many months that q4 2021 was going to be a massive content quarter. historically if you look at the way the stock is traded and performance subscriber growth has gone, it's generally been closely aligned with breakout content. everyone is looking at q4 saying that's exciting that's why people wanted to own netflix but that was before squid games that was before they dropped britney spears that nobody know was being filmed. that's before "tiger king". it is stunning how much content
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is flowing into this quarter it almost feels like an entire year's worth of content being dumped at the same time you see others like disney+ there's nothing to watch, they're struggling in terms of users because there isn't anything fresh or new like the top show on disney+ is like the simpsons right now. and mickey mouse clubhouse. there is not fresh adult or teenage adult content right now. i think it's really helping propel netflix subscriber growth not just here but all around the world. liz: the dominant feature you're calling it netflix. i promise my viewers you had a declaration about snap, what is it? >> the good news that we saw with facebook, i think dave the cfo and the team are pretty clear. they made a tremendous amount of progress on dealing with apple's privacy changes. i think evan spiegel and his
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team really fell on their sword, they screwed up and did not focus enough on building conversion solutions to help advertisers prove out the measurement side of the business. they're fixing that there probably a couple of quarters behind where facebook is paid what is been surprising, it is disappointing that they screwed up is not like it's a forever challenge, it will get fixed and get better in snap is been severely penalized for what will linda being a year from now what we all see as a relatively short-term problem not an exponential crippling long-term issue. liz: rich greenfield, thank you so much, great to have you weighing in on somebody hot media stocks. we are coming right back. the dow and s&p are accession lows. ♪ (vo) while you may not be closing on a business deal
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trade. don't look at the down numbers for the dow. look at this. our "countdown" closer is taking a barbell approach to pump up your portfolio, cyclical value stocks, balanced out by secular growth stocks. let's bring in stephanie lang, 10 billion under management. let's start with the actual definition what you have when it comes to cyclical versus this period of fundamental change, the secular growth areas. >> yes. let's take a step back and just look at what's been happening more recently. we had the q3 slowdown. we'll see gdp numbers tomorrow that reflects that. we're starting to come out of that, mainly because the covid cases have come down. what is happening we're seeing cyclical value names come out and lead again and if you kind of dig down into, you know, what names we like there we really like the financials stocks
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because not only can they take advantage of the cyclical headwind, they have a lot of tailwinds as well. specifically we've seen interest rates starting to move up. we've seen that kind of taper off the last couple days. but we really like the fact they cakal take advantage of more inflation and stronger economy and reflect that in earnings. we've seen earnings come out that financials have been super strong. we like that on the cyclical side. liz: let's get to the secular growth side. can we go back to the barbell graphic to see people can realize thousand these two balance out. go ahead, stephanie. >> the reason we like this barbell approach. you've seen this kind of back and forth, when interest rates go up, you see the cyclical names such as financials take off but on the flipside when you see the interest rates also move
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up, you see you know, some of the tech names really take the brunt of that. but as we move to later in the cycle which, you know, we're arguably starting to hit that mid-range, we're going to start seeing some tougher comps on the, side and there is going to be a little bit of a slowdown in the economy. we want to be with those names that are strong growers no matter what the environment. so we think the market will be rewarding those tech names that really seen the double-digit type growth regardless of the environment. in addition you've seen really the fast forward of the digitization of business and we think those tech names are really going to benefit from that we've seen a huge tailwind in earnings. we think that will continue. liz: i think that really makes sense because as you talk about this very important shift, one thing is for sure, we can't live without our tech. stephanie, thank you. i really do appreciate you coming on with your perspective.
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10 billion in assets under management. stephanie lang. the dow three-day record run comes to an end. with a flourishing o a little bit of a implosion here. the dow is down 257. of. [closing bell rings] as we hear the closing bell. s&p dropping and no record there. that will do it for the claman countdown. "kudlow" is next. larry: hello to "kudlow". i'm larry kudlow. we have hillary vaughn. reporter: breaking news, larry. richard neal


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