tv The Claman Countdown FOX Business November 10, 2021 3:00pm-4:00pm EST
understand that will get hit the hardest but that's okay if you have a year or two years like investors do. charles: let's be honest it's only taken a month or two months for growth to reassert itself this year. every time there's been a spike with a pullback every single time as a buying opportunity. thank you so much we appreciate your help and advice. things changed over the last 11 days. it does not look like will get a record-breaking 12 days in a row. liz: i love how you position risk on versus risk off. some of the biggest risk is when you do not by on a day where things are cheaper. charles: i agree. liz: you are the man. market sliding to session lows as we kick off the final hour of trade, the dow dropped to 310 points and still down to 68.
but as far as percentages, the nasdaq getting punched way harder, the tech heavy index down 310 points at this very moment for a loss of 2%. along with the s&p 500, the nasdaq is looking at the first back-to-back loss in about a month. record inflation taking the thing, gas, electricity out of wall street records run as prices skyrocketed on everything from food to natural gas and even car rentals. our floor show is on best stocks for a spike in crisis. there's always a trade. oscar-winning director selling his visual effects company to unity software for $1.6 billion. when in digital did the award-winning fx for lord of the wings, including avatar, the unity ceo is telling us have a new addition could lead to victory in the meta- verse. crypto currency, headed for the las vegas strip, cbs makes a big
decision. crypto will be added to the las vegas. the association ceo gary shapiro is here in a fox exclusive to tell us why it was added. he will make an major announcement on a superstar headliner at the 2022 event. breaking news the ipo of the year of more than nine years or eight years ev truck nbn maker radian priced at $78 a share is right now up 26% to $98.57. the ev maker gassed up to 10775. traded at 119. the portly shortly before 2:00 p.m. eastern shares broke below $100. fascinating premarket action. we are watching it, shortly after they bring the nasdaq opening bell they were going to
open a $110 a piece pre-buy 10:20 a.m. that jumped to $125 a share but by 12:36 p.m. that chapter 105. here we have it at $99.32. we have it on your screen, up $21. at the moment were watching it well off the highs of the first day of trade. ford which plowed $1.4 billion into this company in 2019 for a 12% stake, looking at a potential windfall of $7 billion. ford ceo tweeting, congratulations to rj and the team at rivian. rj is the founder on the ipo. another step forward are industry and planet will benefit from tvs. rivian not profitable, it is stated it will be profitable for some time. it lost $2 billion since 2020 for the past june. we will check on rivian throughout the show.
$99.96. it is not just ev's getting expensive. so is the price of electricity. just about every single thing that you buy right now. whether it's natural gas or food, inflation fiery and hot in october. october consumer price index released. month to month, up sharper than expected nine tenths of 8%. year-over-year look at this again that is a 31 year high, a jump of six-point to percent. there is always a trade even with inflation, the fidelity stops exchange traded fund is up 40%. why don't we pick this apart and show you the holdings. at the very top is a company called aventis. this is oil and natural gas company it is up 223% over the past year another holding bf chemical manufacturer: that has jumped 182% over the same time.
then you have homebuilder material makers louisiana pacific up 121% over 52 weeks. let's bring in our floor show traders. old man but young at heart teddy weisberg and mark hendrick. mark, let me start with you. we know this number is epic and disturbing for consumers. you have to tell us how long you think this will last, the fed is banging the drum about inflation. >> that's old-line, good to be with you but everything is ultimately temporary. the question is what is the timeline were talking about. it's a fair guess that this will persist through early spring but it's hard to imagine as you look at these components that really helped to lift the inflation number. they will see persisting through the middle part of next year. could we be talking about another 50% rise in the cost of oil, 20% raises and the cost of
protein, very hard to set that scenario up with a reasonable expectation and you also have to think that a year-over-year basis those things are going to cool down. as you are pointing out the federal reserve has been clinging to that mantra for too long and is trying to ease back on the notion of this being transitory. liz: teddy, the question is what is the trade. we pointed out fidelity etf that is positioned well, you have to tell mewe have the ten year treasury yield at 1.55%. it broke below 1.5% the other day. tell me where you see opportunity and what are viewer investor should be doing. >> i think you're smart viewer investors have seen opportunity for weeks if not months but i don't think anybody didn't see this coming. the fact that the feds mantra has been more benign, the last
of us where the rubber meets the road we know what they say and what reality is is two different things. today's number disturbing as it is should not be a surprise to anybody. i think most folks have positioned themselves to take advantage of an inflationary environment. areas that you would go to would be commodities, high commodities, soft commodities, agricultural stocks, bangui, bg which is big agora trader or perhaps anglo-american, fcx, consumer healthcare, cvs, real estate, the apartment, and financials. eventually this probably forces the fed vis-à-vis interest rates. interest rates are going to be the big banks and insurance
companies, bank of america, j.p. morgan. there is a lot of ways to play it. but i don't think this is new news, i think it's old news and as we know markets and stocks tend to discount what is coming. a lot of the play is out of the sectors but as the inflation continues these are the areas that you want to be in speed when we were picking apart the pieces of the consumer price index number. yet gasoline up 49.6% year-over-year. but car and truck up 39% we have hotel and motel cost up 25% maybe we can show some on the screen. meat prices up 10.5%, bacon up 20%, fresh fish and seafood up 11%. i'm looking and seeing this is pretty serious. are there unintended consequences that we have it
rooted out yet that will come to pass? >> i think we are experiencing those. that is when we have these price increases that are outpacing the improvement in wages better than expected jobs report just last week. this is putting the consumer, obviously at the time of the year when spent is increasing because of holiday spending we still have a huge problem with lack of supply. this is a supply induced problem. the other part of the challenge even if the federal reserve were to pull back on asset purchases more than it's really anticipated, if it were to raise interest rates, for the sake of discussion. let's say in the first quart or second quarter that does nothing to address the supply problem. it may crimp demand because obviously consumers are facing rising rates than they might
begin to pull back. but we do not want to see the consumer hand strong but i'm concerned about that and obviously really affecting those at the lower end of the wave spectrum and what we would view as the most important time of the year for spending. liz: we are looking at most of these indexes very close to or at session lows at the moment. we are seeing a deceleration but an acceleration on pressure of prices. no surprise that russell is getting hammered at this hour two. thank you mark and teddy, a pleasure to have you, fox business alert investors are dashing to doordash. the stock is surging after the company announced it would require international delivery platform and in a billion-dollar deal -- is up nearly 13% but separately it did report wider than expected third-quarter loss, however, on revenue estimates. posh mark is getting absolutely
but being hit by a 7% loss. third-quarter drops nearly 30% from the prior quarter that her revenues. crypto currency such a hot growth area for the first time ever crypto land in their own category at the consumer electronics show in las vegas this coming january. the ringmaster himself gary shapiro joins me next. exclusively on why he's rolling out to digital money and in fts and much more. a major announcement, he has not yet disclosed anywhere but he is about to reveal the big news on "the claman countdown" on the hottest consumer electronics. the closing bell ringing and 48 minutes. we will show you how crypto's are trading and get the headlines right after the break. ♪
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address congested u.s. ports affecting global commerce. he is expected to give a briefing on poor operation before delivering remarks. we will take you there when it happens. supply chain issues are a bad deal, just about everywhere. bitcoin giving up gains after popping to another record high today. crypto touched $69000 per coin as the high consumer inflation number triggered a flight into not just gold but crypto is a hedge against rising prices. right now we have bitcoin at 66727. pulling off today's highs, 66000, 700, ether hitting record highs pulling back to 701. i want to point out litecoin it is moving higher, 46% over the past three days. right now it's at $270.82.
just as crypto adoption pushes into the mainstream the crypto association conference taking place this january in vegas will be adding digital currency as a brand-new product category. it is set to be centered around watching technology, and fts and crypto currency innovation. here on the historic add into make a major announcement about january show jerry shapiro, the organization behind ccs. good to see you. when i think of gadgets and gizmos i think of ces. crypto entities you can't touch them with your hands, you cannot turn them on with the switch. tell me why you're bringing digital into the show. >> were bringing into the show because that's where innovation is. now that were in las vegas live with real people and we saw in europe people want to get
together at innovation events. this is the largest one of the world, block chain is real whether it's a coin offering, and fts or cyber. it is all there. what you cannot physically touch it, we will be talking about it, the companies will be there and it's whether the new categories with space technology and food technology. liz: you also do transportation technology. we just had bird go public these are huge companies. interesting categories, is it not. this is the biggest growth area compared to where we were in 2020. not only car companies of gm showing off the new car, we also have other types of mobility's and many different types the indianapolis autonomous rates of the show, it's a self driving i was about the speed dial you a
couple weeks ago. it'll be in las vegas in conjunction with us. these are self driving university all around the world. the top ones will be in las vegas competing who could go fastest around the track. liz: indy 500 only autonomous. >> it is good for lease cars, invalid strivers, self driving which were doing great at in electric but you will be able to do it faster public service vehicles. liz: one uninvited guest showing up every single booth is going to be supply-chain nightmare. i make it anthropomorphic. all of these tech companies have really had a difficult time dealing with supply-chain problems. it specifically chip companies. what if you heard from your customers and your clients at cpa. >> we've been talking about it at ces, not everything will be available. the chip companies are doing well.
the everyone else using chips whether car companies or device companies in the support situation and the west coast ports there's a limited number of the workers. a lot go to the panama canal to get to the eastport. liz: each year, i've covered you for 13 or 14 years. there is a theme that emerges. i remember 3d tvs were such a big deal. this leads to my question about the meta- verse suddenly in the last two weeks since mark zuckerberg started to talk about it. it's really exploded and blossomed. >> i'm sure there will be discussions and panel sessions. ces is focused on the future and the excitement and serendipity which only a lot they can have. only the new technologies are there people around the world focus on innovation also, in the
tech world, no one company, they have together in one place and this'll be january 5 in las vegas. liz: fox business is going so big. we will be there for three full days. you have news to break involving the ceo of the company that has been one of the hottest consumer electronics pieces during the covid era. >> i'm so excited, several years ago a brilliant journalist discovered this company at cs in a ten by ten booth. now she will be interviewing the ceo peloton john foley, thank you for agreeing to do that. i'm so excited you and john will be featured speakers and it'll be fantastic. liz: we will do a one on one stage. there is a lot to talk about with john foley. they have been putting up brand-new equipment. by the same token he is really dealing with what it's like to
scale up a company and stumble a bit with the tread and all of that. we will go all out. john agreed to this. we are very excited. >> there is a fight going on overseas at that event. everybody wants availability. some are going to jim's and things like that but peloton has raised their products and it's quite a story and you are the one that discovered them. thank you for coming to see us too. liz: i was so busted by john all of our. he did a thing on me. i love my peloton and i'm on all the time and talking about all the time. we have a lot to talk about both good and challenging at john foley at cs 2020. were looking forward, all the handwringing over inflation hitting a three decade high.
translates to your wallet this thanksgiving. we are going to punch in the numbers of what big bird and all the trimmings will cost. it may leave you with a bad taste and certainly other consumers. but grocery stock that might be a different story. we go to the supermarket in the big apple next. on turkey day and the cost of it. closing bell ringing at 37 minutes. the dow down to 19. ♪
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but the investor had been bellying up to the table on grocery chains like kroger and albertsons year to date it's been 32% what albertsons has soared knowing the 1%, even the smaller groceries seem to be benefiting but it's a different story when it comes to scale. graffiti out it could be a double-edged sword. >> today we have those numbers, inflation six-point to percent on average from last year to this year. that's the greatest increase that we've seen in 30 years. prices are really rising. bacon, that is an area where you will see the price bump up. today you can pay up to $14 for bacon. that is because protein is one of the categories driving these prices up. meat is up 14.5%.
fish is up 11%. it is a number of factors creating this problem. >> is a course of transportation, the cost of gasoline and the cost of labor. there is a lot of people that did not go back to work. we need our truckers to go back to work. the poor in the middle class are hurting where we have teresa prices of food. >> like you mention grocery stores are doing well when it comes to their stock prices. even though inflation is going up people are still buying. they're producing the goods despite them costing more. wages have increased less than 5%. inflation over six-point to, with all that being said there could be a change coming in the future. i am starting to hear consumers are making choices about what they're going to buy. when you look at me and particular, protein is so high families are making choices
about what they will consume instead of a porterhouse for $22 they will switch to ground beef for half the price. that's for the average american dinner, when you talk about the holidays and turkey, you cannot go for replacement turkey. families will have to suck it up and pay for the higher prices and is not looking like the prices are going away anytime soon. liz: there's always tofu turkey, no tofu turkey. thank you very much. it's disconcerting for the consumer. winter is coming and so is the meta-verse, unity software feetfirst into the new digital world for the $1.6 billion acquisition responsible for that on your screen. the "game of thrones" amazing polar bears and more. unity ceo john rick italo is about to tell us how his walker plans to conquer the meta-verse. closing bell ringing and 29
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gold. your strategic advantage. liz: breaking news, reagan automotive, up 29%, it broke through the triple digit ceiling where your at $101, 33 cents. the high of the day is considerably higher, it is still about 100 billion-dollar market cap. let's get to unity software diving headfirst into the metaverse. unity a world leader in 3d tools and content for videogame makers begin small, acquiring digital for $1.6 billion, retta is the
oscar-winning director peter jackson company that created a realistic and fantastical images seen in blockbuster movies and series from lord of the rings, abbott tire, "game of thrones", you name it how does that plan to use wada, the digital world takes place. the spring and president john, your timing looks very smart, everybody is talking about the metaverse since facebook rebranded as meta- in mark a berg unveiled its digital offerings i want to know the digital offerings on weta when did you talk to them about the acquisition? >> i have been talking to them for over 20 years. they are well-known to me. it really came together on peter's vision and tools when they put together the deal with new to make the lord of the rings trilogy and they message me back then. they invested over the last 20 years, literally north of 500
engineering to create this incredible toolset for artist and things beyond imagining. we could create our version. you can bring the imagination with powerful tools. we are so happy to be able to acquire the tools. the business is staying behind, that is a separate company. we require talent, engineering and property around that. we will bring that to market. other film industry companies, game companies, verticals across many different walks of life. we have been talking to them for eight or nine months. they weren't really at first interested in selling their tools. they were looking for different types of partnerships. as we started talking to them, the conversation got into the discussion, they make a treasure of tools, dozens of tools the artist would kill for.
they are inside of the company, peter had the vision to see them well beyond that into the world across all sorts of industries and he's really proud of that and we were able to form a partnership around that idea and acquire the tools. liz: i wonder how quickly you can fold the tools into the packages that you offer. speaking of tools i was looking into this, this is amazing a path tracing vendor, generates final frames gazebo is an interactive renderer, physics-based visual effects. the things like water, fire he is so cute. >> you stole my line, i was going to explain all of that. frankly there is nothing like this on the planet that exist out there and in terms of integration. the same company we want to meet the demand that is out there first at home and beyond meta-
games and beyond another industry vertical. but over time we will integrate it make it simpler and make for more and more people. eventually we want people that are making their own tiktok videos to create things that are beyond imagining. liz: a's but now main entry named meta- mark zuckerberg unveiled his version of it. i was looking at the avatars, they look a little arruda them entry compared to what what i could do. how do you view what mark zuckerberg and facebook now meta- are putting forth, have you had the discussions with them, is that something where they would be using your type of offerings and tools? >> first off i talk from mark from time to time. let me give you a way to think about this. first off we announced weta is a little early to talk to mark
with facebook with using these tools. it was impossible and it will be possible until we close the transaction. we've been talking about the metaverse using different terminology way back when, had this conversation. i believe that web 30 means it's more real-time, more treaty, more interactive basically it's presence. that has been shanghai in the last nine months. same vision, same thesis. for this we've been talking about it and if it's real time in 3d, more often than not we have a gigantic share for all of these sites and all of these games and experiences. we see a growing rapidly we see that the financial results growing really rapidly. what companies, you've seen an announcement from microsoft and facebook, they are pouring billions of dollars of r&d to enable the growth of the metaverse with real-time 3d. my perspective, this is more
tailwinds in our sales. my view is this is the real thing, we will see universal adaptation across every industry of these technologies and the added capital with facebook and microsoft and others is a really strong positive. i'm already partner with facebook and microsoft and we will build on that. liz: this strikes me is not exactly the same thing but when disney bought pixar it was the king of animation then it looked to pixar and said you're really doing it in an amazing way. this is an opportunity for you to grab onto that. we should let our viewers know you ran electronic arts, the gaming giant and that's why you would've known about what for many years. talk to me about the possibility at some point, where you could envision dealing with major motion pictures. now that you have this acquisition at some point. >> a couple of things.
disney is a company that has the best entertainment and intellectual property portfolio brand in the world. with pixar they got more the intellectual property. it is the leader of real-time treaty technology globally by a wide margin. now we've acquired tools that bring you a platform the largest audience of creators in the world. from our own respective businesses, this is our pixar were acquiring and intellectual property portfolio that is staggering and were really proud of that. truthfully we have a great business and games we have a strong business in verticals like architecture, engineering, transportation. relatively small position in the film industry. it's not an area that we focused on. were waiting for the right move and i never imagined the right move to buy something or invest in something that is essentially the lost treasure of the entire industry because it was trapped
inside of one company and we bring it to all of them. as we bring these to other studios and other companies a leading player in that space for this technology. liz: i am too and i'll meet you in the metaverse. i want to design my own avatar. john of unity software we are coming right back president biden and baltimore trying to fix the supply chain crisis. i promise to serve, not sell. i promise our relationship will be one of partnership and trust. i am a fiduciary, not just some of the time, but all of the time. charles schwab is proud to support the independent financial advisors who are passionately dedicated to helping people achieve their financial goals. visit findyourindependentadvisor.com your shipping manager left to “find themself.” leaving you lost. you need to hire. i need indeed.
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affecting global commerce and how he plans to break up the congestion, the blockages. the president speech with delivery slowdowns with the upcoming holiday season. let's go live to the port of baltimore and edward lawrence with more on what we can expect from today's speech. why port of baltimore and what's happening the situation. >> he's been in a warehouse where he put in the different products that have been to the port of baltimore paper products in the rolloff construction machines for farm and farm equipment. that's what is walking around getting a briefing about what goes through the port. this is a not a sizable port when you talk about the supply chain issue and the volume through the port of los angeles and the port of long beach. the president is close to the white house an hour north, this is easy for the president to get to. the white house is using this as a way to show the president is doing something about supply chain. the products and money that was passed once it will be signed on
monday the money that is passed in the bipartisan infrastructure bill will go to raise tunnels. what happened they offload shipping containers on a train it can only stack one high is the tunnels are so low. they will raise the tunnel so they can stack the containers one on top of another and ship them out into the midwest. that will increase capacity that could come to the sport. this is with the money from the bipartisan info structure bill. the president saying in a statement, inflation hurts, america's pocketbooks and reversing this trend is a top priority for me. the largest share with the increase in prices in this report is due to energy cost. very interesting the president saying energy cost not the supply chain issue which we know adds to inflation but small business owners would like to see it sorted out because there feeling squeezed.
>> ordering product has become a big problem with the supply chain issues. being able to keep people employed they don't want to necessarily be in these industries a public safety because it creates a lot of controversy to be able to enforce things as business owners we just want to sell toys. >> those toys some of them stuck on ships waiting to be offloaded. we expect the president to make remarks in a few minutes. but as you see he's getting updates as to what is happening at the sport. liz: when you talk about lifting the ceiling tunnels and things like that, that would make a huge difference, takes a long time. we are waiting, thank you very much, disney set to report earnings creed even though it's down year to date, the count down closer tells us why investing in the mouse house may be magic for your portfolio. the closing bell eight minutes away, the dow down 209 points on the day where we got the worst inflation numbers and close to a
liz: "fox business alert." we have markets coming off the lows of the session. still quite a bit of red on the screen. dow down 208. nasdaq down 252. the s&p down 34. flip it over to rivian, the ipo of the year, of the decade, you name it. it has been very, very major. the electric vehicle truck an van maker did hit a high of about 119 bucks during the session. it is at 101 right now. still a gain of 29%. let's take a quick look at president biden, breaking just now. he will sign the bipartisan infrastructure bill into law a trillion dollar bill on monday, correct, brad, monday? okay, so he is going to sign that into law. hopefully some of the money will start working its way to fix the supply chain. he is in baltimore right now
talking about at least opportunities to make that happen. disney seconds away from announcing fiscal fourth quarter earning. we do have the stock flat to slightly down. media giant expect to report earnings per share of 51 cents on revenue of $18.79 billion. based on paypal results this week, earning do have the ability to gyrate stocks. obviously paypal missed had weak guidance. that sent the stock tumbling. our "countdown" closer likes both disney and pay pal for portfolio bums. paul weinstein joins us now. paul, both names. take your case paul, can you hear me? >> i can hear you. liz: make your case for paypal and disney. >> -- liz. disney obviously is a reopening trade. i think revenues will come in
line. we do actually expect as the pandemic kind of you know, shows us a little bit more clarity, i think you know, disney is a good place to have. obviously a reopening trade. great success. paypal again is one of those stocks you know, it also depends on guidance. guidance from the company. not necessarily whether top line, bottom line growth meets or exceeds expression tastes. it comes down to, basically what they have done in the crypto space and what they have done with venmo it make as strong case to have it in the portfolio. for us use it as opportunity at the tail end of the year to take some risk off the table. we've done that across the book. you've seen that across a lot of portfolios. right now money managers have been overweight because these stocks had great rises. i think it is time to take cash off the table before the new year. liz: that makes sense.
that is what you're supposed do, at least make sure you book some profits that said you like some of the chip-makers. president biden in baltimore talking about the supply chain. when do you foresee these names get in the benefit of a clearing of the supply chain blockages? >> you know both, we trade nvidia and amd as you're well aware of, they're both industry leaders, for many different reasons. you have the amd signing a deal with facebook and microsoft development for a new chip technology for their core computing. so i think they're really well-positioned to lead in 2022. nvidia again is one of those companies that have three-to-five year window on all of their competition. with the onset of a.i. coming online it's a strong leader. yes we have supply chain issues and i think any of the help and guidance will help the market understand a little bit. liz: you want to go best in
class. paul feinstein, thank you very much. folks, red on the screen today but this day the headline will be that rivian, the ev truck and van maker debuted. [closebell rings] holding at $100.45 for a gain of 128% on the first day of trade. that will do it for "the claman countdown". ♪. larry: hello, everyone, welcome to "kudlow." i'm larry kudlow. so consumer prices recorded a sunning increase for the month of october. that's the big story, rising a huge .9 of 1% just for the month of october alone and now 6.2% for the past 12 months. that is the fastest pace in over 30 years and i have to say that last month's results really, really undercut the idea that