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tv   After the Bell  FOX Business  February 8, 2021 4:00pm-5:00pm EST

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fireworks here because the dow, s&p, nasdaq and russell are closing at fresh all-time highs. that will do it for "the claman countdown." thank you so much for joining us as time for "after the bell." [closing bell rings] connell: put it in the record books. stocks again hitting all-time highs today. we have hopes for stimulus. we have vaccine progress. we also have strong corporate profits. put it all together at the close the dow is at a record, the s&p 500 is at a record, so is the nasdaq up about 1%. the sixth day a row we've had gains for the dow and s&p. the six in a row, that is the longest winning streak for since august for both dow and s&p. third day of gains of records for nasdaq composite. we're on a pretty good wall street run. i'm connell mcshane. it is time for "after the bell." great to be with you. time for the news happening at this hour.
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our fox business team coverage lauren simonetti on record-setting markets. blake burman latest from the white house, he is in washington but lauren, we begin with you. lauren: at a risk of sounding like another broken record, connell, we have records for all three major averages. add in the dow transports and russell 2000s, they closed at record highs as well. across the board. sixth straight gains for dow, s&p 500. that is the longest winning streak since you noted of august. the third day of gains and records for the nasdaq. so that is when we got going on here. i also wanted to show you some stocks of some other companies. hang on, connell. getting myself up to date with your elements here so we match. oil, let's go to the oil board. crude finished just under 5dollars a barrel. that is the high for the year -- 58. the longest winning streak for the year. stocks up six days in a row.
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oil up six days in a row as well. let's show you, my elements, whoever is rolling -- here we go, energy sector advanced with it. xle up 4% today. it is up 13% this year of the reasons are many. people are focusing on vaccine optimism, and stimulus optimism. that is a positive sign for reopening of the economy. what it does raises fears of inflation. we're seeing inflation in commodities, metals, gold, silver. both trading higher today. how do you fix inflation? you raise interest rates. the yield curve steepened. that you know, higher yields are good for banks. that is one of the reasons why the banks, financials were the best, one of the best performing sectors today. leadership on the dow, you see a bank, goldman sachs in there, along with chevron, along with caterpillar. the number one top performer on the blue-chip average today. disney shares hit all-time high
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of 190.64 ahead of their earnings which come on thursday. the gains today were very widespread. it didn't include those traditional pandemic winners. those names were peloton and names like zoom. if you flip the screen, you can see those were losers today. pinterest down 2 and 2/3%. seeing rotation out of big tech into cyclicals. another loser today was big tech companies. in the end microsoft, apple, eked out a .1 of a percent gain. alphabet, facebook, amazon, closing the session lower. if everything feels a little bit toppy to you, connell, you're not alone. yes, fundamentals in some of these gains are warranted but there is a bit of euphoria out there. people are starting to question it but you know what? i would rather be optimistic. so you know, three days of gains in a row, record gains in a row for the broader market, connell. connell: we'll take it while we can i guess.
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but you're right, we haven't even talked about bitcoin when you talk about euphoria. lauren: you will. connell: thank you, lauren. if you look at bitcoin, boy it is some story. elon musk announced that tesla invested $1.5 billion in bitcoin last month. they plan to accept the cryptocurrency as payment soon. the news helping to drive bitcoin's price up up. it was up 40%, six thousand dollars. elon musk and bitcoin, go, what do you say? >> i love it, connell. this is really fascinating example of a really influential person putting his thumb on the scale, right? so the knock on bitcoin has been that it doesn't have any real value. nobody accepts it, so you can't use it for anything. well elon musk can basically wave his magic wand. in a real credible way, say, oh,
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yes it does. because first of all we invested dollars in it. second of all we're going to accept it as payment. he has, you know, in a day transformed the whole way of thinking about this virtual currency or this cryptocurrency. connell: that waving of the wand, virtually for the most part on twitter, from elon musk, doesn't raise any red flags? the idea we now know he was buying bitcoin while doing some of that tweeting about it? what do you say to that? or does that not raise concerns in your mind? >> no more or less than any of the other crazy things going on these days. connell: yeah. >> my read of the sort of arcane nature of sec regulations is that, next question you need to ask would be, did he sell as well? did he profit from it? you know, i don't know. sure raises concerns but there is larger issue here what it means for bitcoin. connell: what about this, a day
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or two ago i wasn't sure how to pronounce it, dogecoin. i wanted to say dog. this is purposely mispronounced. if people haven't been following this, if this is sign of a bubble or not, dogecoin was a cryptocurrency as well. it started as a joke. it is now not i guess. elon musk tweeted about this. other celebrity endorsers come on the likes of snoop dogg. next thing the dogecoin situation is up, 30% in 24 hours. what do you say to that or do you say anything to that? >> sure. look on one hand, connell, it is still a joke. on the other hand if you and i, i don't know, several thousand of our friends suddenly decided today with firm conviction that we wanted to trade seashells with each other and you know, we agreed that the seashells were going to be worth whatever they said they were worth we could do
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that. that is essentially what happened with the dogecoin thing. it began as a joke. still is a joke. still has no value accept h except people wanting to trade with each other. i like it trading cards without the baseball players photos or stats on the back. connell: i wasn't following you closely with the sea shell but baseball cards i used to collect and -- >> you, who was to say what the value of them were? you were. you and your friends. that is my point. connell: don't get me started. should have kept or sold the don mattingly rookie at highs as opposed where it ended up at. tell you about the clubhouse situation as well. this is another thing people are not following but they are now. voice only social media app. getting a lot of attention, elon musk is somewhat involved. that is what used to appear in the conversation with the robinhood ceo a lot of us tuned into there last week but clubhouse is 10 months old. it's a startup. it has already gone viral in
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many ways. in fact so popular the new information is, many chinese users who have been using the app to discuss censored top picks, can talk about the uyghur muslims in china, won't do it anymore. clubhouse is banned by chinese authorities. kind of know you made it banned by the chinese government. another sign you know you made it or think you have, valuation is like a billion dollars for this thing. you wrote a column recently about clubhouse. compared it a little bit to twitter but is this real deal or what do you think? >> well, i have competing thoughts about this. i have relatively little interest in it. when i'm sitting around at my home reading or talking to my family i don't say, gee, i would like to turn on an app and listen to strangers talking about a topic that interests me. that said i do listen to the radio and this has a lot of similar characteristics as the radio. in particular am talk radio but
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with an infinite number of channels. so while there is all sorts of problems with whether or not it is faddish with who is doing it, with the fact that they don't make any money yet although they easily could, i do believe there is something here, partly just because so many people are interested in it right now. connell: yeah. by the way, if i wanted to try it will you invite me? i heard it is invite only? >> right. invite only. as soon as we're off, connell, i would be happy to invite you. connell: all right. i can get on clubhouse thanks to adam. thank you, adam. adam lashinsky out on the west coast. now the other thing americans are still waiting for the promised stimulus check in some cases. let's go to blake burman in washington with a little bit more on that as we still negotiate what the next stimulus might look like. blake. reporter: connell, we have a better idea what this $1.9 trillion plan that president biden and democrats putting forward might look like. at least one potential.
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we heard from the top democrat in washington today who oversees tax policy it could potentially include a $3600 child tax credit for children up to six years old and children from that range to 17 years old, $3,000. however, here is the difference on this one, connell t wouldn't be one lump sum payment t would be payments month by month alongwith by the way, thresholds based on how much money you make the white house was asked about it earlier today. they threw their support behind it, calling it quote, unquote, emergency funding. >> the president supports the proposal that representative kneel neil and others put forward to insure that there is money in the package that helps bring relief to families in the form of a child tax credit. something he would certainly support. reporter: if you were watching the super bowl yesterday you might have have seen president
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biden by husband interview before the fame. the president acknowledging raising the minimum wage likely will not be a part of this plan, connell. that is not likely to fall under the go at it alone, go at it alone rules that the democrats could potentially employ to get this package passed, connell. connell: the other thing today, i want to spend a little bit of time on minimum wage. we've done some segments the last few weeks. we had the cbo ruling on the minimum wage. go through that a little bit, tell us what we learned, if you can. reporter: cbo, congressional budget office, a group here in washington, non-partisan group that tries to predict what legislation might look like and this prediction from the cbo today, if there is a $15 minimum wage what that could look like in 2025. here is part of what they found. it would mean higher pay for 17 million workers who currently make under $15 an hour. maybe bigger paychecks for 10 million that currently make over that mark. they feel it would lead to
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900,000 fewer people in poverty. however the cbo also projects that it would mean 1.4 million job losses. they say that would raise the unemployment rate by nearly a full percentage point. connell? connell: yeah. fewer jobs and also less poverty. so enter that into the discussion for both sides there in washington. thank you. blake burman live for us in washington. we have an historic vote meantime underway. amazon warehouse workers are taking a major step towards the future of their work. we are going to break down the details of that what it might mean coming up next plus two major cities reaching a tentative deal with teachers to reopen schools. there has been a long time in coming but some fear the showdown is still far from over. the high tax state exodus, disney joining a growing list of companies moving operations to low-taxed states like florida. we're on the ground in orlando.
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♪. connell: all right. on to the fight to unionize now. amazon, warehouse workers in alabama are starting to vote and could become the company's first unionized fulfillment center which would be a big deal for amazon. hillary vaughn has been following this.
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joins us know from capitol hill with the details. hillary. reporter: connell this, vote is happening by mail even though amazon tried to delay it until in-person voting for workers could happen and be safe during the pandemic but ultimately their request for that got denied. and the ballots are out and have gone out. workers have seven weeks to decide if they want retail, wholesale department store union to represent them f they do, it will be the first amazon warehouse in the u.s. to unionize. what is happening at this amazon center in alabama. that is getting attention from the leaders here in washington. the union president said he briefed the white house on their plans. union workers got support over the weekend from senator bernie sanders who sent pizza to people rallying over the weekend and signals what happens in bessemer alabama, could have a ripple effect across the country, tweeting this, it cannot be stated how powerful it will be
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if amazon votes to become a union. they are taking on strong anti-unjurorses in a anti-union state but their victory would benefit every american. amazon has gone on aggressive campaign discouraging workers to not unionize, placing flyers in bathroom stalls. the amazon representative says we don't believe they represent the majority of our employees views. our employees work at amazon because we offer best jobs available everywhere higher. we urge everyone to look at our total pijization package, work place environment to any other company with similar jobs. workers at the company make over $15 an hour. that is twice the federal minimum wage right now. 30 cents more than what president biden wants to raise it to. workers advocating for a union the beef is not with their pay but the aggressive production quotas that the company requires them to meet. connell? connell: hillary, thank you.
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hillary vaughn there in washington. let's bring in fox news contributor dan heninger from "the wall street journal." what do you think if they're successful, dan. what do you think this means if amazon workers do end up unionizing? >> it would be a fairly big deal. i don't think it will happen quite frankly, connell, but it would be a big deal if you were to unionize a amazon warehouse in alabama, of all places. one thing to do it up in michigan, ohio, someplace like that but down south, typically we've been through this story many times before over the last 25 years. many auto plants moved out of michigan, ohio, and so forth down to tennessee, georgia, south carolina. we had the boeing moving some of its production out of washington state down to south carolina. and usually it is to escape costs and the cost imposed by unions. if it were to happen in alabama, that would be quite striking but
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you know, it has been through this so many times before. you have these sort of stories with union allied workers talking about the work place environment but at the end of the day most of the time these union votes fail. connell: right. they used to come up even with amazon but it hasn't in a while. this is the first actual attempt since 2014 for amazon. i guess it is probably why it is getting so much attention even in the rain as we see there in alabama. when companies like amazon are faced with this, and they come back, they will make the financial argument, amazon says, listen we already pay the folks 15 burkes an hour. i think the number is $15.33. we have 50% match on 401(k). we have full benefits. that kind of thing. so it is a tough, it is an interesting argument, they're injecting race in to it. talking about people getting more breaks, safety standards, but you think it goes away, essentially? >> i don't know if it goes away. that is a funny aspect to it.
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it has been reported that a lot of people pushing the strike down there in alabama have been participants in black lives matter, the rest of that. i think it is unto the gnat that issue has been introduced here. as hillary vaughn made clear in her report, this isn't 1935. this is 2021. they're well-paid. they have health care. they have a 401(k) but all of us seen scenes what the production line works in an amazon warehouse and it does looks like relentless work. one almost wishes you could get a clear idea, some clear honest reporting on just what that work consists of because it is relentless around possibly these workers have a point but there really is no way to know that and the only way we'll get a reading at this stage is with this union vote. but it would be nice if there were a better way to find out what is going on inside some of these amazon warehouses. connell: that is true. there has been a documentary
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made of that but not as much access from a company you would ordinarily expect from a company this large and this public. switch top picks before i let you go. what could be possibly good sign for economy. the new data, 4.5 million business applications filed last year despite in the midst after global pandemic. the bottom line americans are starting up new companies, dan at a record pace. we have don't know how many will last or succeed, but who knows the maybe the next amazon is in this group. what do you make of that data? >> i am not surprised at all by this data. i have felt for a long time that this generation, sort of relatively younger generation is one of the most entrepreneurial groups that have come through in a long time. these people are always looking for ways to start their own businesses, to be their own bosses, rather than going to work in the usual jobs in law firms and banks and so forth. but the question here is whether
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they indeed are going to be able to survive. another question is where are those businesses being formed? it is a lot easier to form a business in a state like texas, florida, georgia, south carolina, north carolina, where there aren't as many regulations, costs, taxes as there are in california and texas. so this will have to shake out over time but you know i have so many friends who moved here from europe, started businesses and they always say the main reason was the extraordinary spirit in the united states. it is really almost unique. it's a very heartening thing to see this happening in the middle of a pandemic. connell: yeah. maybe a sign. do you take it as a sign of optimism for as tough as things, times have been for some people, the idea, hey, if i put my capital, my own money at risk, i'm fairly optimistic, there is a light at the end of the tunnel here? >> put it this way, connell, it is a lot more optimistic than
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what was going on with gamestop last week with guys sitting home throwing tens of thousands of dollars at the stock market like that. this is people starting real businesses with real money and trying to make a go of it. so in that sense it nets out as optimism. connell: right. well, i have guess your level of optimism by the way on gamestop depends where you sold it but i do get the point in terms of people's attitudes towards things. thank you, dan henninger with us today. delta is actually extending its one safety policy which has gotten a lot of attention. it will continue to block the middle seats own the airplanes which is the bottom line in all of this. it will do so at least until april 30th. longer than any major u.s. customer. it hopes to attract customers for spring travel. it will still block middle seats on delta. we'll be right back.
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♪. connell: so for the first time in months new york city middle schools will be reopening for more than 60,000 students. that's february the 25th. it all comes as officials from two other major cities are reaching tentative deals with their teachers unions on a return to classroom and fox news correspondent mike tobin picks up on reporting from chicago on that story. mike. reporter: connell, at long last there could be a breakthrough that gets chicago public school teachers and their students back in the classroom. the mayor of chicago, the chief of the schools, announcing what they characterize the as a break-through yesterday. >> i really want to reiterate to parents we are ready to reopen. we originally introduced our plan back in august. since then we have strengthened our policy, strengthened the plan and added additional resources throughout the process. and although it has been a challenging process to say the least, i do truly believe that getting our students back in school is is worth it. reporter: now the teachers union was less optimistic tweeting
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there is no agreement yet between the union and bored of education. what we have is a framework. a agreement needs to be approved bit ctu house of delegates and ultimately the rank-and-file. essentially it calls for return to classroom if teachers has access to vaccine and has thresholds to halt in person learning if the virus starts to make a comeback. the effort seem towed take a step back in philadelphia where 2,000 educators did not show up at the urging of the federation of teachers. >> our educators are afraid and they're aid frayed for themselves be afraid for themselves and for the families and the students and their entire school communities. and they're right. the district has an absolutely abysmal track record when it comes to addressing health and safety. reporter: san francisco announced an agreement but almost as quickly as city attorney said it is not enough, he said he will file a motion to an existing lawsuit. that according to a spokesman
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will compel the school district to come up with state standards or meet state standards. connell? connell: all right. mike. mike tobin live for us in chicago. we'll keep following those stories. we have a plan to launch what are called innovation zones. we'll talk in a moment why the governor of one state is actually touting legislation that would allow tech companies to create their own local governments. that sounds strange. we will explain it when we come back. a number of large weddings are on the decline, hotels are turning to new strategy to market empty event space they have. with shortages, citi field where new york mets play will open up on wednesdays for a vaccination hub. mayor bill de blasio says the site will cater specifically to taxi drivers, food industry workers and eligible residents in queens where the stadium is
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♪. connell: yeah, it is a mass exodus from california we talk so much about and disney is actually the latest company to hop on that bandwagon, eyeing up a move to florida, more of a move to florida. ashley webster knows more about that, he is in orlando with details for us. ashley? reporter: after watching mike tobin with the snow coming down it's a chilly 72 here in orlando, connell. you know what? it is the weather certainly but low taxes are attracting so many
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people here. i think disney is a great example of one state versus another. here in florida disney world is open at 35% capacity. halves been reopened for seven months. disneyland in southern california has been closed for almost a year. it may not reopen until this summer. that has disney pretty upset with the state of california and reports that it could be thinking of moving some of its corporate divisions out of southern cal here to central florida where it is already the major employer of the region. we reached out to disney. here is what they said, when we asked, hey, are you moving some more to florida, they said this, as the largest employer in central florida we're always exploring opportunities for additional locations within the vicinity of our theme park but there is nothing concrete. but you know disney ceo bob chabot slammed california and governor gavin newsom, that it
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is very disappointing you don't trust us to be able to open our gates. he is not alone with his anger in california. listen to california republican joe collins this morning on "fox & friends" about how people feel about the governor. take a listen. >> the homelessness has been a huge issue. our education system has failed. and right now with the coronavirus pandemic going on, you know, thousands and thousands of business owners have permanently shut their doors. people are leaving california by the droves. now i think that california sees that. they deserve better. reporter: that recall petition now over 1.4 million signatures. they need 1.5 million by march 15th. looks like they will probably get that. by the way, disney reports its earnings on thursday. it will be very interesting to see what bob chap pick, the ceo had to say about california. he let it rip a little bit in november in the last earnings call. that could be very interesting. connell? connell: it sure could be.
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ashley, thank you. good story. we have want to look at the flipside of this for a moment now, talk about whether this, when might be a good time instead of moving to florida instead move to a place like new york city. there has been argument cheap rent presents a golden opportunity in new york, seattle, san francisco, with prices dropping 20% compared to pre-pandemic signs where austin, texas, miami, florida, is seeing less after decline and surge in remote workers. we have carollton english and independent women's policy, hadley heath manning. woe you make an argument to someone, contrary to every story we've been doing the last few months, maybe time to move to new york as opposed to out of new york, what do you say to that? >> absolutely. i stayed in new york during this pandemic.
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i'm very much in favor of new york. i want to take issue talking about the cheap rent, you look at 2019, pre-pandemic levels, rents were at record highs f you're a young worker finance will always have a huge piece in new york city. you know, there may be some fringes of it, some non-client based roles go to salt lake city, jacksonville have been popular areas, deal-making will be in new york city. there are more direct flights to new york. when the economy reopens, travel comes back, businesses will be a little hesitant putting their bosses and executives on two, three leg flights. there will be still a reason to be in new york i think. connell: right. that is the debate, right, hadley, about what this whole world looks like, once we get to the other side of the pandemic, should we bet on the austin, texas, type cities or miami or is there still something to be said for new york and the other metro areas? what do you say? >> i say a lot depends where you
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are in your career and in your life. i spent the first few years after college living in washington, d.c., and for someone who works in politics or public policy, that is really the heart of that industry and sew for me i absolutely credit my years there, face time i did building a network and early stage career moves with the success that i have now. now i live in denver, colorado, i'm able to work remotely, work from home, have the flexibility. i'm not sure if you could get me to move somewhere in new york city like this point in my life. i'm expecting a third baby next month. i don't know how my double stroller will work on subway. doesn't seem to be most family friendly away as urban center. i don't think we'll get away in society, being around other people, building connections in a face-to-face way. as soon as people feel face to do that they will want to be together again in big urban centers. unfortunately the places come with a lot of costs. costs go up as you need more
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square footage. connell: i told you one of those urban centers was run by google? i said earlier we would explain the story from nevada but the governor of nevada is a democrat, steve sisolak. he suggested allowing tech companies to create local governments. essentially the company instead of a county would be the one kind of in charge of the government. called innovation zones what they're calling them. they would have the same authority as a local government, you could impose taxes, local school district, have your own court, provide services, pick up the trash for example, if the ten company was running the local government. is this crazy caroleton. is this crazy or little bit of both. >> it's a little crazy. a positive wants to do that, they want to appear business-friendly. we saw what in new york with amazon a few years ago with their attempt to have second headquarters here.
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what is interesting, they are trying to thread that needle. if i understand directly businesses that do that won't be able to get certain tax incentives. they're threading needle with corporate welfare around thinks like that. what is interesting the companies have to build the community and areas. some companies when they look to move from congested areas like new york, we were talking about, they like to go to places like austin, texas, miami, where there is universities to tap young talent. seems like companies would have to take it upon themselves to build all that infrastructure. we'll see how some would be willing to do that. connell: let's ask hadley. we can't get hadley soon to be three children to move to new york city. maybe i said go to a remote area of nevada. you can live and work in a brand new city run by some robotics
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company, they will collect taxes pick up your trash and the like? >> i have to ask what the schools are like, that would be the first question. i support the idea of policy innovation. governors like the governor of nevada have the right and prerogative to experiment with things this. i would remind people the whole point of devolving government power from the federal level to the state level, from the state level to the local level ultimately to protect the liberty and freedoms of individuals. i would be asking if i were in nevada, and live in one of these innovation zones, what protections does the state have in place for my individual rights? how can i be sure having a private government system like a corporation is going to be an improvement for me over having you know, a publicly run county or city government? i would be asking serious questions about safeguarding liberty that way. connell: who knows, if any of this will ever happen. it did make for an interesting few minutes. hadley, thank you. caroleton, thank you good to see you as well.
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we have another story. frantic search for survivors underway. this is crazy. rescue efforts in northern india after part of a him lay shun glacier fell into a river and sent a mountain of water through a damage. 26 people are confirmed dead. 171 people still missing. ♪ traded with a touch. the gold standard, so to speak ;) nicorette knows, quitting smoking is hard. you get advice like: try hypnosis... or... quit cold turkey. kidding me?! instead, start small. with nicorette. which can lead to something big. start stopping with nicorette (sam) gamers! verizon 5g ultra wideband is here, with ultra... low... lag!
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liberty mutual customizes- wait... am i in one of those liberty mutual commercials where they stand in front of the statue of liberty and talk about how liberty mutual customizes your car insurance so you only pay for what you need? uhhh... yes. huh... what happens in this one? seagulls. oh, i like it. how are you doing? (seagulls sounds) only pay for what you need.
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♪ liberty. liberty. liberty. liberty. ♪ ♪. connell: so they say they're trying to crack down on vaccine misinformation. we learned today that facebook is expanding its ban on content that they say misleads people on the covid vaccines. all this comes as the debate over who should get the vaccine continues. the u.s. administering 1.3 million shots per day. edward lawrence is following all of this, joins us from washington with the latest. edward? reporter: we've seen the numbers grow. still 70% of the doses have been sent to states actually made it into the arms. the numbers are worse when you look at some individual states. maryland, for example, only 64% of the doses they have received actually have gone into arms. same with california, illinois, 67%. pennsylvania 68%. those are near failing grades in any high school or college.
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now on the other side of that equation, west virginia. 90.2% of the vaccine received have gone into arms. the brookings institute says in part because west virginia stressed cooperation and state coordination where maryland, for example, left it basically to competition. >> west virginia has a very centralized system and maryland with its system of strong counties, a very decentralized system. and that meant that in maryland there has been certain amount of competition between counties. not all counties are inoculating the same groups at the same time. reporter: the other problem, two health sources tell me that hospitals got large amounts of doses, initial doses of the vaccine and sat on it, waiting for, to vaccinate their health workers but 50% of whom didn't
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want it. so the oversupply at nursing homes now, governors are saying, will be going into the general population at least in south carol, texas, california. they're divert being excess they had there back into everyone else. lowering the age from 75 to 65 in many states. back to you. connell: hopefully all that works. thank you, edward lawrence live in washington today. we have story in a moment of some hotels who are capitalizing on a different clientele. jeff flock what do you have coming up for us? reporter: i have, for you, connell la petite marriage, which is a french for a he had withing that doesn't coast you so much. why is this hotel on the edge, cutting-edge of a new trend? we'll explain when we come back. the and feel like i'm well on my way to becoming debt free.
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b.b. king, queen of soul aretha franklin. you're sitting in the place where giants ate. the four way, as a restaurant, meant so much to this neighborhood and we wanted to continue that. to have a place where you have dignity and belong, that's the legacy of the four way. ♪
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♪♪ smooth driving pays off you never been in better hands allstate click or call for a quote today ♪♪ connell: all right. the idea of people going out and
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eloping, that's another trend that's been on the rise during the pandemic. with so many traditional weddings either canceled or postponed, the hotels are now creating elopement packages, giving couples an inexpensive and innovative ways to celebrate. jeff flock has more. >> reporter: i did try that once, connell. it didn't turn out too well. at any rate, moving on, this is the beautiful marble staircase at the gray hotel in chicago, and this is home to a cutting edge trend. that is what they call maybe micro weddings or -- we've said -- [speaking french] it is weddings, these places used to be full of big weddings, very fancy. now people can't have big time here. the general manager says this is happening big time, you're offering these smaller packages. >> yeah. we started offering packages from 2-25 people, we're even streaming them online now to help the other family and friends who couldn't be here.
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>> reporter: so instead of the big venue up upstairs, smaller venues like this one here, beautiful, small little room, and you can have your close friends, relatives. it's also cheaper, i suspect. >> that's right. we have a chef concierge, bobby, who can even marry you on site. >> reporter: that's awfully tempting, but i think i'll pass. numbers, connell, you know, occupancy rates, employment in the hotels, this is a way to kind of keep things going. >> yeah. we're trying to send the message that we want to keep things positive. be available for those people who wanted to get married anyway, and we feel like we can employ a few more people, bring a few staff members back sooner and be part of the economy. >> reporter: and people are still getting married. >> we've seen an unbelievable rise in weddings being booked. >> reporter: what are they thinking, connell? i don't know. at any rate -- [laughter] connell: i'm so tempted to ask you about the eloping story but,
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unfortunately, we don't have the time today -- >> reporter: what happens in vegas stays in vegas. [laughter] connell: as the case may be. thank you, jeff. jeff flock. french for jeff flock, we're never against that. this is kind of the love section of the show, i guess, love is in the air, and it's also in the stock market. the dating app, bumble, seeking to raise up to $1.8 billion. let's talk more about this with gerri willis. gerri. >> reporter: so, that's right, bumble setting terms for its ipo today. the dating app, which claims it promotes women making the first move in dating, plans to sell 45 million shares priced at $37-39 each. the ceo, whitney wolfe, she founded bumble back in 2014, calling it a women first dating app because it allows women to make the first move, as i said. see, women, once they match with someone, have 24 hours to start the conversation with their target.
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at the top end of the range, the company would raise $1.755 billion. bmbl will trade on the nasdaq, its pricing set for wednesday. goldman and citi are bringing the shares to market. an additional, get this, 21 other banks involved. bumble is not making money, and that loss of $84 million on revenue of $376.6, rival came public in 2015, and as i send it back to you, this is the first time i've ever seen the phrase antiquated gender norms in a prospectus, but i did. [laughter] connell: well, sign of the times, i guess. you didn't know you'd be reporting on these types of situations, right in it's interesting, i don't know, you probably didn't know you'd be at the end of a show with jeff flock talking about marriage and dating either, but that's -- such is life some days. i don't know if it was because bumble sounds like bubble, but i was thinking we started the show talking about everything being up, you know, in the markets just generally speaking; the stock market, bitcoin, talking
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about ipos. you do start to wonder, i don't know from your conversations with people about the level of concern out there, that everything's going up and what, what happens when it starts to come down. >> reporter: yeah. well, or you know, there's nothing wrong with taking profits when you can, right? i mean, no shame this taking some money off the table if you think things have gone too far, too fast. but i like a little on optimism myself, connell. connell: yeah, i guess it's a good problem to have while you're having it. we're up again by 237, 238 points on the dow, the s&p and nasdaq and, again, the bitcoin story has been crazy, up to $44,000. anyway, gerri, thank you. the latest for bumble, and we'll watch for that company as it begins its move into the public markets. and we'll continue to watch these trends in terms of where we go. it's just every single day we come on, and we're reporting on what seems like a record high in the stock market and other asset
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prices that are rising as well. you start to wonder when inflation becomes part of the story, if it hasn't already. anyway, thanks for watching us today and every day as we report the news to you "after the bell." i'm connell mcshane, we'll see you back here at the same time tomorrow. ♪ ♪ jackie: good evening, everybody. i'm jackie deangelis, and this is "fox business tonight." first up, senate democrats today announcing they have reached an agreement with attorneys for former president donald trump on how to proceed with their second impeachment trialment mr. trump's legal team responding moments ago in a statement saying this: this process will provide us with an opportunity to explain to senators why it is absurd and unconstitutional to hold an impeachment trial against a private citizen. now, a host of republican senators have also stated that the trial is unconstitutional and say it'


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