tv The Claman Countdown FOX Business July 25, 2022 3:00pm-4:00pm EDT
learn your lesson, much like prn it shared fire with mankind andd buy passive funds. stay focused and stay in the mao learn, continue to adapt. also make sure you keep lookoutn self-and on the trades for buye. &%c1 thank you. charles. beginning with a fox market ale. how did this happen. last trading line. should be jam packed and the fes up two day interest rate settin.
&%c1 slightly above three% and oe here but aside from that, the f. the data matter this week and wt talking, you know, marginal date imbalances, not to rip them or . this is real meat on the bone d. tomorrow, as we said, fed meetit we're also getting july consumee new home sales. wednesday, june durable goods og home sales. thursday, this is the biggy, se,
they still both have hands d two are s&p leaders right now. top five for the broader s&p any and apache, those are the two rd drilling equipment companies ann there as well. we got to tell you about the mof earning season and for that, brw trader kenny and scott. kenny, let me start with you, pt and sentedder at the moment. tuesday alphabet and microsoft s meta. thursday apple and amazon. kenny, you tell me which names e for the rest of the summer. >> listen, i think from the tece alphabet. i think when that comes out, evg about how these tech numbers wi.
you read every story everyone i, they're all going to disappoint. markets going lower. if everyone knows they're goingy are they not rallying in the laf if they know they're going to d. you have to watch for alphabet. i known three of the four. facebook i don't own, never ownk or blog as far as i'm concerned. ones i'm looking at is apple. i think that's going to be the s the tone and one that i would bd certainly any long-term investot as a long term opportunity. >> pull up apple and check heret about one%, $152.66. market cap, $2.47 billion. put up apple. it's down about a $1.46 at the . i get it and, scott, i would age is sort of that big tech -- it . don't count out qaulcom becauseg
busters with chip equipment andd this. talk to me about the name you fl al coming to -- pivotal coming d coloring the market for possible summer. >> rest of the summer, my goodn. it's only monday. i hear you, listen, there's a ls of names that set the tone. in the last two weeks, you've hf different reactions to earning. it wasn't bought and great earnd netflix that was a little bettep that made lower lows. so if you train this week, tomoe and microsoft. google and microsoft are both se strength verse so much other nae of the past three months. so their daily charts getting wy charting stronger and how we red
microsoft will set the tone ford then like kenny said, apple is e had one of the biggest moves frd i don't really understand causet really so concerned about it. you've had china chose closed fe past couple months and everyonet their symmelus checks and not ht could be the nail in the coffine follows the course of a snap ve, that's a weakness that starts to wednesday and that's really goie where money is going to hide bey disappoint, because i think thel the sudden there's nothing to hr the rest of the summer and all t the lows of 36, 38. still very, very important on m. >> maybe none of these names iss
much as jdp, second quarter gdpe rubber meating the road. meeting the road. are we in a recession or not? >> right. the answers go from -1.6 and who half a percent rate increase. i'm going with atlanta fed and e number i think. i think that alone doesn't necen a recession because there's the, but history projects if that's o negative quarters and all the se and waiting to see. yes, i i a e grue that gdp aftey and gdp on thursday with apple s another day to keep your eyes o. >> the who point about recessios wining and screaming about secr.
in a definition of recession ans happening in this week. if the s&p can hold 3900, 3900 - >> or 3944 right now. >> that's line. >> kenny, stop, let's keep it s. s sports grill p hold. really -- s&p hold. really quick, kenny. we have to go in 20 seconds. >> the lows are in at 36. that's test 3600 again and thatd buyers hanging around and wanti. while i think.
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was bashed when he tried to buyl assets voyageurs like lawyer colleen a bow bed, lowball as a white knight rescue. as we wait a counter offer from alameda ventures what does a man from ftx and client think of the situation right now. joining is not a fox business exclusive firebox ceo, michael, great to have you here you are a very important voice, not because you worked with both but they're managing to survive and thrive during the crypto winter, let's begin with this what you know about ftx offer and that is a lot because they made it very public and that's why voyager is upset do you see as a legitimate
lifeline or opportunistic? >> i think right now there are other turbulence is in the system and a lot of folks similar to voyager that are in a difficult position. i think what sam is doing and ftx is using the majority of the drive power to rescue the situation given the fact that there is no backstop in the sense of the government to make the best of the situation. it has to be backed up by private investors and therefore i think people don't like them but eventually it needs to be somehow. >> i suspect voyageurs customers are getting louder in their complaint, maybe, i don't know but not drab the lifeline
because an essence what he was offering, if it worked out the way he says it would, they would be able to give them an advance on their bankruptcy claims so they don't have to wait to go through bankruptcy court and get voyager to reopen the coffers and let some of that money out. you think he is in a position to sweeten his altar to make it more appealing to voyager? >> i'm not sure i know where the party stands but i do think the best outcome for the repo investors in those cases is probably a priority for everyone right now and wherever the offers are on the table they should try and help the retail investors and trusting those
platforms and investing through them. >> firebox deals with a lot of these companies, celsius is another one that just declared bankruptcy, about our chapter 11 which they are hoping to restructure but this really brings up the issue of counterparty risk. we have lately seen some serious issues, three arrows, parallel, big disasters across the board maybe this is the fact that all emerging sectors see companies initially sprout up like weeds and many of them die on the vine. what does this say about the future of how companies like yours deal with counterparty risks and deal with it. >> we were looking that there was a risk taken much work seriously in this space at one. overtime. one thing that they bring to the table is the fact we have institutions with the ability to operate in direct custody. when people use our
infrastructure they don't have risk to firebox and we rate the rules with the risk between parties when they're doing trading or lending activities. a lot of those tools that were invented after a few major crisis in the traditional space had been awarded to crypto but they were not used in a very meaningful way during this crisis. example is three hours in the epicenter and the amount of people that landed so three hours without any visibility on how those funds are being used and they got caught up in a pretty nasty situation. liz: can i just finished by asking you are we close to the crypto being over at this point, the shakeout that's what big been freed is indicating. >> i think the shakeout from the
recent on the backup, i would assume they are toward the end. i think there are still room to build into get out of the situation. i think a lot of companies are investing seriously in improving the offering that they have, this essentially doing to take the time to invest in them for structure and make sure that we are moving into new areas such as payment since i want grade that's why people are focusing in on it. liz: your crypto business enter while it is attractive to some legacy names, bnp, you just landed that deal from hot wallets to them. i think that says a lot about financial institutions, at least not some of them being frightened off by the current situation. michael, great to see you. thank you very much. >> taken so much for having me.
michael transport of fireblocks. breadwinners serious tone for a daily dose. we are about to take his life to the bread aisle where inflation is taking a staple entered skyhigh just how high we are going to show you in a minute closing bell ringing in 38 minutes when the dow jones industrial down 18-point simply and near the 101% loss or 105 points, don't go away. they collect hundreds of data points like hrv and rem sleep, so you know all you need for recovery. and you are? i'm an investor...in invesco qqq, a fund that gives me access to... nasdaq 100 innovations like... wearable training optimization tech. uh, how long are you... i'm done. i'm okay.
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liz: i am watching the becks volatility up three to half percent as stocks are down for the second session straight, we have the dog over by seven points. it is not a huge deal but we can't stay above the flat line same with s&p in the nasdaq. let's take a look at wwe showing muscle after loop capital set a greater likelihood that the company could become an acquisition target after the retirement of ceo vince mcmahon on friday, naming comcast, walt disney, amazon and netflix as possible buyers of wwe. shares are popping eight and a third% and the speculation comes as a reston wrestling promotion company says it expects to be forced to revise previous financial statements going all the way back to 2019 after uncovering about $14.6 million in hush money made by mcmahon
who is under investigation for alleged sexual misconduct. stephanie mcmahon, his daughter and nick for ceo sub wwe following vince's retirement. the nfl trying to score big as it launches the new streaming service, the subscription service will cost $4.99 a month or $39.99 a year. subscribers will get to watch all out of market preseason games it is called the nfl plus and it will include access to local and primetime regular-season and postseason games. in the browns will win the super bowl . and that is fact according to me. stop laughing my floor director. the league is still in the process of redoing the sunday ticket package and they have not chosen a streaming partner for the $300 per year service top contenders include apple and amazon, rich greenfield telling
fox business last week at a be most likely apple but we shall see. newmont losing sparkle, down 13.5% after the bold space metal tablet whipped on second-quarter earnings newmont earned 40 cents a share, wall street was expecting 63 cents. newmont said earnings were dulled by higher cost for labor, materials and fuel with a 70 million-dollar charge related to the profit sharing agreement that it made with merck entered workers with that mind and mexico's. weber shares going cold after they announced the departure of ceo chris sure his anger. weber down 13 and at 3%. earnings mid august they have not put out their numbers but they have to come out and talk about the ceo change they named chief technology officer alan as interim ceo as they search for a permanent replacement the company also suspended its quarterly cash dividend amid slowing demand for its products
and stores and online and said it's considering layoffs and tightening its inventory that is not helping rival the wood pellet company, it is down 6.9% to just $3.29 ticker symbol cook. wheat prices are definitely bouncing higher again after a un back deal for ukrainian grain exports came crashing down yesterday russian missiles, 24 hours after they instructed the deal russian missiles struck the port city of odessa after agreeing to vital exports from ukraine to resume. the black seaport heavily damaged as 20 million tons a blockade we ingrain remain stranded in the war-torn nation. it's one of the biggest producers of wheat as known as the world spread basket of europe and now the supply shortage is hitting home big time, lydia hu joined us from a fairway market in new york city.
do i want to know how much basic we bread is going to cost let alone the artisanal stuff we all love? >> i guess we can't avoid talking about it, it's basic goods that is in all of our homes across america. we are here at the grocery store, where finding examples of dinner rolls that are costing more than $10 for a 24-ounce. we have other examples of the raven hall bread and baguettes, these would set you back about $7 a piece. we know it's not just artisanal bread that is going up in price, basic staples like wheat bread, white breadfruit images, you can see here the price of white bread jumping 10% over the last year with the price of wheat bread spiking 11.5%. there is an ongoing war with russia and ukraine that has driven the price of global wheat commodity around the world there is some other gratuity factors, the rising price of red blamed
on ingredients like flour, eggs and dairy, they spiked over the past year, labor and energy cost are drivers as well. experts say the professional bakers, the producers are responding they are limiting what they're going to produce based on demand, watch this. >> they have to limit in some cases their production lines, they are limiting the impact that the grocery store as well. >> the consumers are responding to the higher prices as well iri has confirmed analyzed buying habits, they say there is a pullback on purchases of sandwich bread, the white bread in the wheat bread is down 1.6% over the year but they are also seen a surge in spending on artisanal bread the more expensive ones, that is up 6.5%
the firm iri that people are in the market that can afford the more expensive loads of bread are saying if i get a spend the money i might as well get what i want and they're buying exactly what they want anyway. the amick and bakers association add with the tragic bombing of the odessa and the deal between russia and ukraine falling to uncertainty they don't see prices for bread coming out in the near future, they think higher bread prices will be here for 2024. liz: the baguette. it's getting really hard for people out there just to buy their daily bread, thank you very much. we have a new definition for cash cow. one company that went public friday is turning waste into an alternative to diesel fuel as truck drivers search desperately for cheaper diesel right now we have the ceos of opal fuels in a
liz: the best we can say about diesel prices, they are at least going and the right direction, that is lower. if you look at them right now. at $5.41 a gallon. that is the national average. a week ago they were more, $5.53. a month ago $5.79 but look where they were a year ago, $3.27 a gallon. there has got to be an alternative at this point, enter renewable natural gas company opal fuels, just completed its
merger with arc light queen transition corporation, $1.75 billion deal they debuted under the ticker symbol opal, shares are will be lower they were higher at the earlier today the opal fuels what they do is produce renewable natural gas by taking the methane from cow manure that is quite plentiful at dairy farms and landfills to produce a diesel alternative for heavy-duty trucks. with 350 fuel stations across 42 states, opal customers have good ones with the nations biggest from amazon, waste management and ups, joining me now in a fox business exclusive opal they will co-ceo adam comora and jon maurer. gentlemen, alternatives when there are very high prices on the open market is a great thing, first explained to our
viewers if you cut, adam you can take this to start. exactly how the process works when you're turning methane, newer into actual alternative to diesel fuel. >> thank you so much for happiness, were so excited to be here. it's exciting growth for opal fuels. what we do at opal fuels, we capture harmful methane emissions that landfills or from dairy waste maneuver, we collect the maneuver specifically at dairies and put them into tanks or lagoons, introduce them to a digestion of that on micro bug and then we clean out the maneuver and they gas up to a pipeline specification, we injected into pipelines and then we are able to use that fuel anywhere in the country where you can use regular natural gas and build fueling stations and services fielding station and deliver the renewable natural gas into the market. liz: if i understand you have
horizontal collectors as i would imagine huge tanks in vertical wells and pipelines that move it to your stations or to the process. >> let me correct you there, one of the beautiful things about renewable natural gas as a low-carb fuel source, we are able to use existing pipeline infrastructure, what we do we cleated up at the source and injected already into the existing natural gas pipeline infrastructure which is potiphar in this country and allows us to use the renewable natural gas anywhere in the country and build a fuel station and fuel trucks at those hikes. liz: it is working because you have customers, explain how you are selling your product to a customer like amazon which has a massive trucking fleet. >> are fleet customers are switching from the higher price diesel that you are talking about to renewable natural gas which is a low-carb product that
is selling added an enormous discounted diesel fuel, paybacks in less than a year end some cases on the low prices that they get. our customers such as waste management, ups, gfl, others get this low carbon renewable natural gas with the vehicles to accomplish the savings. >> can you explain, adam, or john yoo take it because you said is that a discount to what we would expect right now more than $5 a gallon of diesel can you give me a price. >> i'm just going to say, our customers are paying $2 a gallon out of california and maybe a dollar and according to inside of california which is an amazing green discount product,
the other thing i would mention when these cleats transition over to renewable natural gas they report 0 scope one and 0 scope to omissions that's very important for these customers, specifically now the sec is mandating greenhouse gas scope one in scope to admission. liz: i love the color green, because green means an upmarket and we want to clean plan obviously. do you anticipate this will go to a basic consumer in a sedan? do you see this happening or is the changeover required too much at this point i think it's best applicable and the transportation best applicable to heavy-duty truck market but this gas can be used the carbonized where source of fuel. this renewable fuel and utility
pipeline to consumer and residential customers and other businesses. >> i have good green news for you as you were speaking and talking to our powerful investor audience your stock went down 2.5% to up one and change percent. there is always a trade it does not matter this is not a political issue, we'd like green and i think it is obviously working. when you have big customer names i would imagine you are adding more, please come back with the avenues to break we would love to host you again. >> thank you so much. >> thank you so much. liz: that company is called opal fuels. the dow just turn back to positive again. where the kid out of little bit of momentum at that moment
across the board the dow is up 19-point we are watching it closely. i slowly down in the housing market not scaring doubt that counting closer, the one name he is picking to build a shelter around your portfolio. the closing bell 14 and a half minutes away we are seeing the green on the screen is that translating anywhere else, the russell is green, s&p down six pointed nasdaq down 96. ♪ some like a little comfort, to balance out the risk. others want immediate gratification... and long-term gratification,too. they have their own interests, but at the end of the day there's nothing like being... a gold-owner. visit invest.gold to see why gold is everyone's asset. [ marcia ] my dental health was not good.
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♪. liz: we've got breaking news we need to tell you about. the senate just gaveled into session moments ago. it is expected to take a procedural vote around 5:30 p.m. eastern time to break the filibuster on that 52 billion-dollar chips act. that's the act that basically gives a ton of money to the semiconductor industry to build up here in the united states. now it is expected to pass and the senate will then vote to approve the bill midweek. the house will take it up after senate approval. and then we do the hokeypokey and we turn it all around. the soxx, the semiconductor index is just down under 1% at the moment. we should mention nxp semiconductor trading down 3/4 of a percent, set to reveal the
second quarter numbers after the bell today. keep an eye on that. look at the dow up 70 points. look at house speaker nancy pelosi still fending off questions about her husband's multimillion dollar investment in chipmaker to nvidia. to charlie gasparino. >> it is not illegal what she did, what he did. what he did. liz: she didn't do anything. >> what he does she does, you realize, when you're married that long. liz: we're vulnerable through our children and our spouse. >> it is non-material, nonpublic information. it is barely non-public. it might be material but you probably can't prove he stole it. you have to prove he stole it, misappropriated it, he got it from here illegally through pillow talk, right? it looks really sleazy. and you know, what i don't get is why he keeps doing it. the guy is worth $100 million. probably more than that he is 80 years old.
why is he, why is making his wife look stupid? it is criminal. liz: charlie, it is never enough. >> i guess so. someone told me he is like the nicest guy in the world. i know somebody that knows him. a great guy you want to hang out with, maybe that is how he gets his information? the funniest thing was, she said we never talk about this think about this. this guy is knee deep in all sorts of stuff involving stocks that are always involved with legislation. she is always involved in the legislation but they never talk about it. so, it looks bad. it is not insider trading. the sec will not look at it probably. they might kick the tires. they will not find anything but you know, calls essentially to pass another bill that prevents information edge on congress which is probably not going to pass as well. we'll talk about this story forever. let's switch to elon musk.
ellie did a great investigation that musk was under investigation at the beginning of the year, under multiple regulatory probes including a doj probe we should point out. the latest filing from tesla came out today, confirming much of her reporting, that they have gotten, they have gotten information requests specifically on musk's tweeting and whether they, he is following the rules that the sec crafted that he should follow after, remember that infamous 4/20 taking it private funding secure tweet, that proved not to be true. liz: okay. >> part of that sell meant involved him not tweeting or going through processes to tweet market moving information. liz: lawyers, got to get embedded. >> sec wants to know if they're doing that. i would be surprised if they don't ding him on this. it is so obvious he tweets stuff out all the time doesn't get any
approvals. liz: almost pavlovian for him. he gets, some type of excitement seeing reaction to it. meantime it is sound and fury signifying nothing. >> sometimes. sometimes it is market-moving. i think they got him of this. he reminds me of paul pelosi. why does paul pelosi need to tray. he is so rich. must be deyen rat guy, i got to do did be -- did he again rat. i'm calling him degenerate guy. mid be hooked like gamblers. liz: charlie,. >> people go to, why would you do this, makes your wife -- liz: people are really into trading stocks. >> the way he does it. not like he is investing long term. it seems to be based on information that is timely. i'm saying if i'm him, i wouldn't be doing it. you're making your wife look really bad. liz: well there's that. thank you, charlie.
>> always the man. liz: charlie charlie gasparino, we have four 1/2 minutes away from the closing bell. the dow staging kind of a nice little move here up 78 points at the moment. we'll see if we close to the upside here. hey, the nasdaq still down 62 points but the s&p has scratched its way, bloodied into the green up by -- >> i can barely keep up with this roller coaster. liz: whoa. breaking news. opal is halted. this is the company we just had on the show. folks, this is interesting. when we started our interview with adam, john, the co-ceos, the stock was down 2 1/2%. during our interview it surged 13%. this is the company that turns methane gas from cows and landfills into usable alternative to diesel fuel. now it is up 13 1/2% but halted. the only news that we can see,
is this correct, brad, they were just on with "the claman countdown"? we'll keep an eye on that. the stock is 8.84 cents. to activist portfolio manager david wagner. the dow is up 100 points at the moment, they're going down for housing stocks. i was looking at the homebuilders this morning. they were all down, they still are all down. d.r. horton. we've got lennar, pulte homes, tolle brothers, hovnanian. maybe we show some of these, but they are all in the red at the moment. there hasn't been great news on the level of the home building sector because things are slowing down but you say hold on, hold on, the consumer is holding up, i assume that means the buyers will hold up? >> yeah. you know, i think what is really driving our sentiment on these names is actually valuation but you mentioned it, it is no secret that homebuilders, probably one of those polarizing
industries in the s&p 500 right now. especially just last month we've seen a lot of the macro housing data really turn negative? i'm a big fan of pulte. it reports earnings tomorrow morning and the weird thing about this we're not focusing on the report itself, we're not focusing on the top line or bottom line, it is about outlet what is ahead, not what is behind. we'll focus on cancellation rates, guidance, sustainability of pricing due to lower demand caused by higher interest rates. it continues to trade bee book value, and when you buy homebuilders below book value it looks like a pretty good position. i think i like the story even better longer term, given structural underbuilt nature of housing in the u.s. liz: okay, so pulte is your choice there. right now we're looking at a market overall that is highly
dependent and somewhat tentative because we've got that med meeting announcement on wednesday. the meeting begins tomorrow, the announcement what they decide to do with rates on wednesday, they're expected, fully priced in to raise by at least 3/4 of a percent. kenny kenny polcari, our trader at top, says forget it will be 1%. either way the mortgage rates go higher. how does that dampen the entire home building industry? >> i entirely understand that argument. that is one of those foreshadowed recessions in my investing career. that is what you have to look at valuation. d.r. horton report, 24% cancellation rates when the average during recession is 19%? we continuously see homebuilders, d.r. horton even after the report, it did not look like a good report but the stock was up. feels like sentiment is washed
out. they're up as a group homebuilders 13% since july. i think market focuses on valuation now that sentiment has started to turn. liz: sentiment turned today. [closing bell rings] the dow is was down, now up 100 points. thank you for joining us. the markets finish the day and beginning of this week mixed. nasdaq down 50. folks, big earnings day tomorrow. "kudlow" is next ♪ larry: hello, folks, welcome to "kudlow," i'm larry kudlow. so we know that the biden democrats attempts to radically transform the american economy and its culture for that matter has led to sky-high inflation, economic contraction, and overall demoralization in just 18 months. radical, progressive experiment has once again failed. show me a poll, any poll, and i will show you a massive voter revolt against biden policies. of course there is
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