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tv   The Claman Countdown  FOX Business  February 23, 2021 3:00pm-4:00pm EST

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maybe with the pent-up demand, people waiting for a vaccine, waiting for the nation to get vaccinated before they're comfortable going on a vacation -- charles: michael -- >> will paper over that. charles: thank you very much. you gave us a whole lot to consider there, as usual. you're one of the best. all right, we ap hand it over to liz claman, and i gave you a little bit of the cp effect, liz. you've got good momentum going into this last hour trading. liz: do not underestimate your power. the dow just climbed occupant of a 350-point hole. but do you send the ambulances home? rising rates knocking the wind out of the sails of the nasdaq, but it had been down more than 500 points. even moderna unable to escape the nasdaq's sea of red. we do have shares down about 7.5% at this moment. but in a rare television interview, one of the top three female financial advisers in the
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country, stephanie steeple, of newberger berman is here on the one event she is watching this week that she says could bring new life to the markets and the economy. plus, as the nation marks one of the grimmest milestones yet in the pandemic, the man who oversaw the cdc, the fda and the surgeon general and now wears the ceo9 hat at herb alife is here. where we stand in the pandemic and why people are rushing to buy his nutritional supplement. fox business alert, folks, yes, the markets are definitely coming back. in fact, about six and a half minutes ago the dow just punched into positive territory for a second. but as we head into this final hour of trade, we've been tracking the nasdaq every sickle point of -- single point of the way. just take a look at the moves. the tech-heavy index dropped at it low of the session down 530 points just before 10 a.m. eastern. right now the nasdaq is down 138
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so, yes, it's come back. but let's flip it over to the s&p which is also trying to get into the green here. it's down just 3 points at the moment. as for the dow jones industrials, we have got it up 1.5 points after i said having been down 362. yes, we're seeing the major averages stage a bit of a comeback, not so much at all for bitcoin. take a look, it is falling $9,231 at the moment at $45,325. earlier it was down about 18% as investors are either growing wary, taking profits or both since its record-breaking rally that had it hitting $58,000 over the weekend, right? but it is perhaps the 10-year yield which earlier hit a fresh one-year high of 1.39% that caused the markets to really shiver at the open. right now we're at 1.36%. fed chair powell saying while
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inflation is still, quote, soft, rising yields this time around are a sign of improving fundamentals for the economy. okay, that's what he said. let's bring in some top market watchers here and what they're really signaling for investors. is this a gigantic flashing warning sign? i want to bring in, let's quickly speak with tom hayes. tom, thank you so much for being here. great hills cappallal chairman. tom, give me -- capital chairman. give me a sense of why we saw such a worrisome drop in both the nasdaq and the dow earlier today, and do you believe chairman powell that things are going to be fine? >> yeah. well, liz, this is all about rates. the 10-year yield is up 50% in the last seven weeks. that's a little scary for managers. it's up 170% in the last seven months from 50 basis points to 136. and when capital is free, you
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get a surplus of companies that are big on promises and small on profit. now that managers are seeing capital is going to start to cost something, they're demanding earnings and profit, and the circus is packing up its tent and moving out of town, and money is moving into cyclicals and valuing. and the last few weeks it's really coming off the high-flier, high-multiple tech stocks. we do think this is going to persist for the next 18 months in the intermediate term. it's common in a new business cycle that rates rise, money moves into value and the cyclicals. however, in the very short term, liz, i think managers are going to want to hide out, and there are some sectors and companies that are oversold like consumer staples. think cereal and soup. campbell's, kelloggs. think big farm hama, pfizer, novartis -- pharma. we like all those names. we think those groups are oversold, and we think as this
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rate of change slows down in terms of rates, that money's going to go back into these high-yielders, and they're going to get a bounce in the short term. liz: we've just got manny bremer on the horn, you watched every single word of powell's comments. andy, can the bull market in equities survive rising rates? >> no, liz, i don't believe they can. i think that there's just too much stimulus pipeline coming in between 1.9 trillion next week and 3 trillion in higher rates are just going to be there. i see no reason for rates to go lower. covid is at the end. everyone's getting vaccinated. you know, maybe the press might not believe it, but people -- things are getting much better. we can see a light at the end of the tunnel, and i just see no real reason. we're getting, the -- [inaudible]
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9.5% for the first quarter. you're getting housing numbers that are off the charts. and, yes, powell did say today he's very concerned about the 10 million still unemployed, but i didn't hear anything about increasing qe, anything about yield curve control, and i think rates are going to get away from us. i think we'll be -- [inaudible] for the next couple of days, but we're going to 2%10-year, liz, and that's not a pretty picture considering where the fed had been. liz: 2%. we're at 1.36 right now, up 92 basis points over the past couple of months. as tom just mentioned, andy, i do have to throw you this one. you said, and this was pretty clear, that equities and this bull run that we've seen for many, many years cannot survive rising rates. okay then, what part of the yield curve, what are you looking at as an opportunity here, if anything? and we're looking at tips, treasure inflation-protected securities. you know, it's put stunning,
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january inflows to bond etfs that protect against rising rates spiked 3.5 billionment i mean, to me, there's a rush and there's a change, is there not? >> absolutely, liz. you know, inflation is coming down the pike, and yet -- liz: he said soft. >> -- but we're going to, we're going to see much more inflation. i think we're going to see higher rates. and at some point equities will correct and that'll mitigate the rising rates, but i still think things are going to be in tough shape. yes, will the bull market survive? yes, but in the near term, we're going to have more of a correction. you moved in one week from the high of the nasdaq to the low this morning, 8.2%. a slight correction, yes. but if you look at some of the wilder ones, in one week, in one week that was down 20.4% from last tuesday to this morning.
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these are the kind of severe, solid moves that you're going to get, corrections you're going to have, and there's a lot of volatility out there. there's just too much speculation. so i think we're in for a lot of trouble. liz: okay. a lot of trouble. tom, you have said there are places to hide, but when do you expect, if at all, will it be a slow bottoming, a correction? would it be a bear market for a short period of time9? what can you tell our viewers to expect? >> i think what you want to look for, liz, is the rallies under the surface. i think you're going to see subdued activity in the general indices, sideways to absorb the gains that we've had, and there will be opportunities on a sector rotation basis like we're talking about right now which, where you can get opportunities in oversold sectors like consumer staples, like health care and pharma and like utilities right now in the short term. in the intermediate term, this is a new business cycle, having rates rise is consistent with
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growth as powell was saying today, and that value cyclical trade does best in the first 18-24 months of the news cycle. so we still like energy, banks, defense and aerospace. and two of the names we've talked about for months, wells fargo and exxonmobil, are up 85% since november. so now they've got to take a little breather, and we've just laid out where we think you can hide in the next handful of weeks to a couple of months. liz: andy, tom, i say it felt like the markets were shivering, and now we just turned positive for the dow. we're up 37. i just don't know how long putting these pill rows underneath the stock -- pillows underneath the stock market will work, but we shall see. thank you both so much. you guys, both the economy and the markets are at this inflection point. recovering, for the economy, but stocks are highly vulnerable to rising rates which powell just said are a function of an improving outlookment one of the top minds in wealth management
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says this is precisely not the time to put your portfolio on autopilot. newberger berman managing director stephanie siegel was just ranked number three on barron's list of top 100 women financial advisers and 29th in the nation when you throw everybody in the mix, men, women, martians, redheads, all of us. in a rare interview, stephanie joins us in a fox business exclusive. stephanie, congratulations. yourself so high up on barron's holy grail list because you position your clients' portfolios before the storm arrives. not saying we're in a cat five hurricane, but of what have you been seeing and doing over the past few months that's prepared clients for what's been playing out the past couple of days? >> thank you, liz. and great to join your audience, your viewership. these rotations and these cups are to be expected -- dips are to be expected, and i think it's really about having a durable
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class allocation that can weather the eventual rotation out of what's gotten overheated, perhaps bubble-like, into areas that perhaps -- [inaudible] if and so we saw that. when you look back at 2020, it really was a year when technology was king. and we understand why. in covid, right, the fact that we were sheltering in place, overusing our technology, you know, having meetings but ipad and others, there really was a greater need for technology, and it was breathtaking that last year technology and the nasdaq were up 44 and 45%. if instead you're in what you would call grandma stocks, you know, utilities were only up a half a percent if financials were down 1.7%, so i think what's happening now is a natural rotation to be expected.
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take some of that excess out of the is system. and the fact that energy and financials are showing leadership is by virtue of the fact that last year, for example, energy was down 36%. it's quite incredible how narrow the market was. and we continue to kind of go through these rotations and, frankly, it does presentopportunities for asset -- present opportunities for asset managers to find great companies with great management at great prices. liz: yeah. and you do that research. but, stephanie, you know, we've had a lot of people on, some are extremely bullish, and had you listened to the bears two, three, one year ago, we would have lost out on some big moves here. however, it almost feels like we're seeing this, as we said, inflection point. rising rates -- because things are improving. and i just don't know how long the fed can continue this sort
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of artificial propping up of what's going on when we are seeing an an improvement. that said, what else do you see on the horizon, and what move will you make knowing that we are seeing rising rates at the moment? >> so the 10-year, as you said earlier, was at 1.36, but the dividend yield on the s&p is 1.6%. so there's some really interesting ways to get yields in equity securities that have higher dividends. so that's an example of where they were ignored for last year and present good opportunities provided that their cash flow and their ability to pay out that dividend is secure and growing and will ultimately be rewarded with higher stock prices. liz: we do know something, and it's on the very near horizonnen. this week johnson & johnson's covid vaccine could very well get emergency use authorization granted by the fda.
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you've pegged that as a pivotal moment. what do you think happens there and what's the position? >> i sincerely see that as a game-changer. i sincerely see that as a company that instead of giving two doses will add more windows -- administer one dose. so that's very efficient. once they get emergency use authorization, it has on the ready 100 million doses to put in the system, if you will, or the supply chain. and it has committed to a billion doses by the end of 2020. i'm telling you, liz, that is a game-changer. i think when we're able to get j&j added to the mix of pfizer and moderna, we're going to start to see that there's more ample supply, there will be changes in who's eligible, there will be the ability to get it at pharmacy chains, etc., so better distribution of it. ing i really see that that will be when we're on the other side of this and really looking
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forward to the reopening. and you asked the point about, you know, you need to, you need to integrate that into your thinking in your portfolio because it will be a different environment. once we get out from under this, there will be a way of living that maybe will be a little bit more subdued but also an enthusiasm to try to get back to life as we knew it. liz: okay. well, you and i are going disco dancing, that's all i have to say. [laughter] stephanie, good to see you. j&j. stephanie says that is a game-changer, one and done when it comes to that shot. we shall see. newberger berman managing director. all right, now the dow is up 81 points. folks, we are seeing a very interesting realtime turn-around. we're watching the nasdaq and so much more. say with us. ♪ ♪
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act now. liz: that improving outlook we've ben talking about, it's got one name cruising to the top of today's
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pop stocks. royal caribbean is jumping more than 4% right now, edging close to a one-year high after announcing a 30% increase in new cruise bookings since the beginning of the year compared with just last november to december. mass vaccinations are fueling enthusiasm for travel once again. stephanie was just talking about wait until you see what happens when j&j gets approved. if that does, that's a game-changer. let's check on carnival and norwegian cruise lines, and they are both as well in the green, norwegian up about six-tenths of a percent, carnival up 1.6%. now, that same vaccine optimism kind of hammering home improvement stocks. home depot reported a beat in quarterly sales but didn't issue full-year guy dance as last year's -- guidance as last year's enthusiasm for ?azing up homes may lose some mojo e the rest of this year. home depot down 2.7%. lowe's is also down 2.3%. it reports after the bell
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tomorrow. now, while the lockdown was great for venerating your kitchen -- renovating your kitchen, prancing around the house not conducive to buying gowns and gucci bags. the real reel being downgraded, raymond james saying any recovery is already priced in. getting hit to the town of down 14.6%. while wall street chatter is focused on churchill capital core and its spac deal, former new york yankees' slugger a-rod seems to be hitting a home run on its first day of trading after the company raised half a billion dollars in blank check merger move. a-rod's filing says the spac is not targeting professional sports franchises, but will aim to acquire a sports entertainment or health and wellness business. okay. just about the entire electric vehicle sector from the auto
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names to the charging station stocks are getting bashed at this hour. okay, slam is up 4.4%. some of the biggest and hottest names in the electric car race who make three very different products, delivery vans, passenger cars and pickups, today they all have one thing in common. red arrows. you can see workhorse is down 42%. fit kerr down 9% and then, as you see, lordstown motors down 12%. let's get to cheryl casone tracking all the action in the ev sector. cheryl: thank you, liz are. let's start with the headline of the day for this whole sec, to that's lucid motors and churchill capital confirming a deal to merge taking the california-based ev company public. the spac announcement pushing shares of churchill cap call down substantially. right now down, yeah, more than 37%. this deal will value lucid at
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$24 billion assuming an offer price of $15 a share and will give lieu sudden a cash inclusion. but why the lackluster response on all of this? according to research, churchill and lucid, wait for a better entry point. buyers are paying six times the valuation of the merger hoping to cash in on the official announcement which is, of course, now out there. for a lot of investors, a chance to invest in lieu sid at a lower entry point -- lucid. michael kline leads churchill, there had been speculation over a deal for over a month, rumors began to speculate about this whole thing. we're also following tesla which comets to shed ground today, tesla down about 1.5%. it's really been hovering around bear market territory today. but analysts believe it's because of the company's bitcoin bet, that $1.5 billion bet, liz. you know about it. the stock losing 8.5% yesterday,
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the stock markedly down from its high of $90.40 a share. $900, excuse me. now, let's talk about the chinese automakers also in the red, all under pressure. this has been triggered in part by u.s. interest rates may be the on rise. that's pushing this group lore, and the ev selloff hitting battery stocks as well into the close, liz. as you mentioned, this whole issue with tesla, that bitcoin bent which, you know, elon musk had gotten so behind might be actually hurting his overall net worth and taking him out of that top spot for richest man in the world right now. liz: yeah. he's not crying in his billions. [laughter] he's fine. you know what, cheryl? fits kerr is coming out with earnings on thursday, we've got
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the ceo on friday. i hope everybody stays tuned for that. he worked at tesla. he was big at tesla. so it's really interesting to see that this is a suddenly very burgeoning sector. thank you so much. burgeoning but shrinking at least today. all right, guys, you thought gamestop was the most dramatic short squeeze story in recent history? well before the reddit rebels who took on the gamestop bears even existed, herbalife was the center of a short seller battle between billionaires bill ackman and carl icahn. herbalife survived and just posted record numbers. so what does the one-time controversy company's ceo make of the robinhood-reddit rebellion and also why the record numbers? what's going on? who's buying what? stay with us, the ceo of herbalife right here at after the break. closing bell, 35 minutes away. look at the dow, suddenly up 100 points. ♪ ♪
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liz: we have breaking news, golf legd tiger woods is in emergency surgery right now after he was extricated from a rollover car crash. it's seen on your screen right now. he had to be extricated by the jaws of life. firefighters, paramedics in the l.a. area rushed to the scene. this according to the l.a. county sheriff's department. woods' agent says he has suffered multiple leg injuries. again, he is in emergency surgery. the accident is said to have been a single-car crash and that he was alone in the vehicle, but you can see from these pictures this looks extraordinarily serious, and you can see the sunroof there, so it was a definite rollover, and any more information we can get on tiger woods, we will bring that to you. in the meantime, the u.s. has hit just a harrowing milestone. on monday we surpassed the half
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million mark for coronavirus-related deaths. our next guest knows all about public health. in his role of assistant secretary of health, department of health and human services under george w. bush, dr. john oversaw the centers for disease control, the national institutes of health, the fda and the office of the surgeon general. he also served as assistant secretary at the department of health and human services, a licensed physician is now the ceo of herbalife where the company's nutritional supplements have seen record demand during the pandemic. he joins us in a fox business exclusive. well, doctor, thank you for being here. >> hi, liz. liz: i mean, the timing is unbelievable. not only are you an m.d., but you got your master's in public health from johns hopkins which has really been the source on numbers when it comes to covid. identify just got to get your reaction to passing this tragic milestone. >> yeah. it's been a tough year for so many families, as you know. unfortunately, it's not over.
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the good thing is we have a vaccine, many available through a number of different outlets. hopefully, things will begin to get back to normal in the coming months, if not year. liz: you know, i've got to ask you because you have a really interesting background. before herbalife you ran the health and wellness division at walmart. hindsight, of course, is 20/20, i know that. but knowing what you know about walmart operations, have you been at -- had you been at hhs, would you have advocated for the walmarts of the world, the cvss, the walgreens, to come in earlier on the distribution of this this vaccine? >> so i don't know any details about the way the vaccines were planned and distributed, but i do know this: public/private partnerships always help during a crisis whether it be a hurricane or a pandemic. it's always useful to engage all sectors of society in the response. just leaving it to government is usually a mistake. liz: yeah. or just leaving it to the states
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to flounder, also a mistake. let me get to herbalife and your current life, the current hat that you wear as ceo. you guys just had record quarterly sales. yeah, you missed on some of the metrics, at least according to, you know, some analysts, but i'm more interested to know how you did during the pandemics because, folks, you've got to know something about the good doctor here. he took the ceo helm in march of last year. so the market was disastrous at that point, right? and they're like, here, you take it. [laughter] what's your world been like since march? >> yeah. well, i was fortunate, i was in the company for four or five years before i became ceo, and i'm surrounded by excellent executives on our team. but i will say this, at times like this it's critically important that healthy nutrition be as widely available as possible, and i'm extraordinarily fortunate that ours is a business that had an amazing year. best year ever, actually. it was a great year, we were up
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$5.5 billion, a 14% increase. we're actually very fortunate. but there are many that weren't as fortunate as us, and our hearts go out to all of those who lost loved ones or who are currently sick with the virus. liz: uh-huh. what are the top sellers that you're seeing when it comes to herbalife? and i do also have to ask because it's such an interesting time where we've seen the reddit rebels fight the short sellerrings. of course, the history of herbalife, recent history relatively, in the past couple of years, you were caught in the middle between bill ackman, the billionaire, carl icahn, the billionaire, dan loeb, and they were all not really caring about the actual fundamentals of the company -- [laughter] they just were trying to squeeze it. >> yeah, liz, you're absolutely right. and by the way, fundamentals, that was the key to getting through those times when they were doing their thing. we were focused on growing our business around the world. 94 different countries. by the way, healthy nutrition
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has never been more important than it is today. our customers and our distributers, they recognize during those days and during 2020 that this was the time to step up our performance and to deliver on what our customers wanted. it's why we had the best year ever, it's why we're looking to the future with a lot of excitement. 2021 is going to be one of our impressive years. i can feel it. our strategy is working. we had growth in 2018, we had growth in 2019, as we stated 2020 was a record year, and i'm looking forward to 2021. liz: all right. folks, the far-left part of it, that's where john had to take over, and the stock is up meaningfully, double-digit percentages. good luck to you, we'll be watching it. thank you so much. dow is up now 115 points. now, the nasdaq down 25, can we
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get into the green after having been down more than 500 points? this is a fascinating next 25 minutes of "the claman countdown." you can't move, i'm telling you. ♪ ♪ get real-time insights in your customized view of the market. it's smarter trading technology for smarter trading decisions. fidelity. (vo) ideas exist inside you, electrify you. they grow from our imagination, but they can't be held back. they want to be set free. to make the world more responsible, and even more incredible. ideas start the future, just like that.
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♪ ♪ liz: you've got to figure it's something the that chairman powell said, just endless monetary help here. the dow has launched a major reversal. so has the nasdaq. the dow had been down, you know, these numbers keep moving, down 362 lows of the session, it's now up 107. but it's the nasdaq, still down 27, but had been losing 529 points. all right, now, for the dow the magic number to watch needs to be up 91 points to clock a brand new record -- [laughter] we're already there. and the transports, by the way, also at an all-time record. now, can we see the nasdaq catch up to the s&p and the dow, both
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in the green? apple is in comeback mode, turning positive after spending most of the day in the red. take a look at some of the other big technology names from amazon to alphabet. both are climbing back into positive territory. microsoft still lagging by just a fraction of a prosecutor -- percent here, but let's bring in bill lee and dan flax. dan, it's kind of an extraordinary session today. am i right? >> liz, you are right. and i think it speaks to the fact that, clearly, we're in an economic recovery, but the environment remains uncertain. interest rates have been going up. when we look at the technology sector though, while it remains cyclical, the key is that the longer term sec la trends around -- secular trends around the buildout of the digital infrastructure remain healthy. so if we look at a company like
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alphabet, youtube is strong, we think the google cloud platform is somewhat of an underappreciated business. they're really forging ahead in terms of building ties with enterprise customers. they have autonomous driving. so a lot to like in a company like google. we also continue to like amazon. liz: okay. bill, we've had two days of indicators that, yes, it is a recovering world that we're in. we've got three company now with vaccines, j&j is on the verge of coming through. hopefully, fingers crossed on that. wouldn't we expect to see rising rates and improving numbers and, therefore, you know, we could back off a little bit for the fed? powell says no and, therefore, we have this weird market that i worry is a little artificial. >> what chair powell is trying to tell everybody is these are good rising rates, and the reason why is because the recovery in the economy is really focused on the service
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sector. the service sector the got crushed, and when it did, the layoffs were tremendous, and it really hurt the poor people. right now the recovery is reversing that, and the fear is that there's going to be inflation. but the fed's well aware it's going to come from the service sector, but the productivity changes and the cost cutting and investments people have made becoming more flexible and investing in technology, i think, are going to keep the price pressures down, and there's going to be very little inflation as the recovery takes place. liz: you know, we hadandy brenner on earlier, and we asked him can the bull market survive rising rates, and he said, no. short term, no. plus, it's been in place for so long. we've had this unbelievable bull market, multiyears. bill's shaking his head. what do you think? if. >> liz, we look at the companies one by one, and so when we examine the fundamentals of a company like apple or amazon, those growth drivers remain
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healthy and really they're broadening. i think the key if one looks at companies on an individual level in the technology sector, it's a question of can they innovate, can they invent, can they reinvent themselves. and that's really going to be critical to creating value for their customers and, ultimately, their shareholders over the medium term. so, yeah, we do see opportunities even in the face of rising interest rates. liz: okay. bill, we've got to run, but raw material prices are the highest we've seen since 2013, and i'm looking at the 10-year. it's now back at 1.36%. what happens in the next couple of weeks? >> long commodity price inflation, bottleneck inflation coming out, but the fed is going to see these are temp rate price level jumps. it's not inflation that raises interest rates, and the thing to keep in mind is technology is the key to productivity,
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enhancements that keep prices from going up. liz: guys, good to see you. thank you both. we need to give our viewers an update on the breaking news involving tiger woods who has been hospitalized following a car crash in los angeles. we are now hearing from former president trump according to a statement released, president trump said get well soon, tiger, you are a true champion. we're going to keep you posted on the latest developments, but we do understand that tiger woods is in emergency surgery, and we are, we are wishing him the very best at this moment. it was a single-car accident, apparently. that is a helicopter shot in los angeles. we'll be watching, and we will bring you the very latest. in the meantime, dow is continues to hold on to gains of 104 points. we are coming right back. ♪ ♪ it's not “pretty good or nothing.”
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♪ ♪ liz: well, on a day where the markets stumbled much earlier, it was always marriott shares which were rising throughout the entire session, and they continue to hold on to gains of 4.6%. they have named tony kaplan know as the successor to arnie sorensen who died just one week ago. he's a longtime veteran of the hotel chain. he's worked there for more than 25 years, most recently as a group president for global development design efforts and operations. marriott not the only hotel driving higher, vegas resort stocks rallying right now. wynn, mgm, las vegas sands having a really strong day. wynn is up 8% followed by mgam at 5-- mgm on hopes of a return
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to travel in a postcovid world. as sec stocks continue to -- tech stocks continue to be the laggard, some hedge funds are worried about bigger problems these top companies may face from the biden regime. yes, twitter, facebook and alphabet are coming back right now, but, charlie gasparino, what could tricep them up in the future -- trip them up in the future? >> there's never one reason for selloffs, but i can tell you that there's underlying anxiety about the tech stocks based on what we're hearing. and we're getting this from tech lobbyists, people who deal with congress, will deal with the white house and the phone calls they're getting from major tech funds -- hedge funds. we're speaking with the lobbyists who are getting these calls from the hedge funds who are saying essentially this: they're worried about the biden administration and the democratic-controlled congress passing pretty sweeping legislation. they're worried about section 230, increasingly worried about section 230 of the
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communications decency act, that safe harbor on content which allows twitter, for example, not to be held liable for content on its site and get sued for someone posting something on the site. same with google. they're worried about that being somehow, you know, curtailed or maybe eliminated. they're worried that the biden administration may appoint somebody named tim wu described by an -- described as an anti-big tech activist joining the national economic council in a senior position under brian deese all these things are starting to percolate among hedge funds, so it's an interesting day to be doing this story when tech stocks are all after their amazing ride from last year. tech was one of the reasons why we were able to survive, you know, the lockdowns, you know? we're -- i'm speaking to you via zoom. everything is done, most stuff is done online. if you can't go to the
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supermarket, you shop via amazon. but i can tell you the hedge funds are getting worried about regulation in this space, and they are now inundating these tech analysts or tech lobbyists with questions, particularly about section 230. now, what are the chances that we're going to face massive regulation? i can't tell you. i, you know, it depends on who you talk to. some people you'll say, will tell you that biden will never get rid of section 230, that big tech has plenty of its own lobbyists that are going to the white house and congress saying not to take that, not to get rid of that protection. others say don't count anything out when you have elizabeth warren running major committees and others like bernie sanders in major committees, and they are very anti-big tech. and there could be a lot more that is done in this arena. as you know, there's a justice department investigation that started during the trump years on google, and we should point out there's some bipartisan accord here on tech regulation. i mean, you know, the banning of
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conservative voices will have, will have some republicans in the senate and in congress say, hey, why should we give these guys protection, you know, when they're out to get us. so they could join elizabeth warren. anyway, liz, that's why we -- i think that's one of the underlying reasons for the tech selloff today. this is, we're starting to hear this more and more from hedge funds. back to you. liz: you know, charlie, you have broken the story on today one when you first joined us on fox business that tiger woods was returning -- >> yes. i remember that. liz: -- to the golf scene and golf world years ago after his car accident and a situation with his wife many years ago, and now we have this. we do have this, kabc-tv el copter over the scene of woods' accident says airbags did appear to be deployed in this single-car accident, but he's in emergency surgery right now. and there is a picture. there is a picture right now.
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we'll get you any updates that we can on tiger woods when we get back. "claman countdown" will return this just a moment. ♪ ♪ good morning! the four way is a destination place. right here, between these walls, is a lot of history. we tried to operate a decent,
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respectable place that anybody wouldn't feel bad to walk in. i am black. beautiful. i must be respected. it was for everybody. you never know who you're going to meet. black lawyers, doctors, educators, martin luther king, b.b. king, queen of soul aretha franklin. .yo . the four way, as a restaurant, and the cleaves family meant so much to this neighborhood. to have a place where you have dignity and belong, that's the legacy of the four way. loving people. sharing and caring and loving people. that's a great way to think.
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♪ ♪ ♪ (upbeat music) ♪ ♪ ♪ ♪ ♪ ♪
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♪ ♪ ♪. liz: two half 1/2 minutes before we hear the closing bell ring. a wild market day. the dow lost enough or a lot of gains, in final minute or two no longer on pace for record 48 points. nasdaq not quite there down 57. dow is on pace to close to brand new records. warner brothers picture is dropping a trailer for the new "mortal kombat" movie? number of videogame adaptations that hollywood is trying to make a few bucks off. he says there is a trade for that. he has been playing around with names for a win in gaming stocks. what do you like, jp?
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>> liz, thanks for having me. there is a lot of exciting videogame stocks out there. video gaming, ticker espo some of the top names include act at this vase. activision is well-diversified video game publisher, with a number of different titles very popular across a number of different platforms. that essentially means you have different kinds of games, shooters and sports games and fantasy games across pc, console and mobile. the pest publishers out there, the best positioned publishers out there are well-diversified in their offerings is well-diversified. liz: tencent, c limited, advanced micro device, which works the gpus. we have to wrong with so much breaking news. van ectetf up 88%
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year-over-year. dow crawled out of a hole. nasdaq not quite there. you read that in the headlines. [closing bell rings] 500 point deficit, the nasdaq reraced all of it. that will do it for "the claman countdown". ♪. larry: hello, everyone, welcome back to "kudlow." i'm larry kudlow. stocks staging a bilge comeback after spending much of the day deep in the red. jay powell very dovish i think that has something to do with it. dow up 14. s&p up almost five bucks. nasdaq down 68 points t was rigmarole, up down, up down, finished okay. this afternoon i want to start again with a theme. there is an economic boom being spurred on by the promising developments in the fight against covid-19. it is a story

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