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tv   The Claman Countdown  FOX Business  April 5, 2024 3:00pm-4:00pm EDT

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why aren't we training americans with technology education? this is the fourth industrial revolution. america was founded on immigration, folks, and it will always be an important part of our ethos, right? we are proud of this. no one is against immigration. but encouraging illegal immigration, i don't think, will ever be part of our ethos. and this was pretty transparent if attempt to say somehow it saved the country, i think it's misguided and very, very dangerous. with that, the market had a pretty good week going into the weekend, but it was a challenging week. and what i think we're going to see, to ed yardeni's point earlier, a for volatile market. you won't be able to throw a dart at seven stocks and make money anymore. that means you're to going to have to watch this though and also our friend, liz claman. liz: yeah. because you and i bring in the top voices. yardeni is a huge name. thank you very much, charles. breaking news, okay, folks, you look at the ticker beneath me and, of course, the slides here on the screen here, 24
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hours after a major drop in the markets we are watching the bulls flash a v very -- for victory and a v for the look of the recovery from yesterday's geopolitically-triggered drop. while we're coming off the highs of the session, this2k-day v-shaped chart for the dow jones industrials which, by the way, enjoyed a -- endured a 530-point retreat thursday, right now is up nearly 300 points. at its high of the session, 433. the other majors are repeating a similar pattern. two minutes before noon eastern the s&p recovered all 66 points that the it had lost yesterday. now at the moment what do we have here? we've got the nasdaq up 1 is 73 points. -- 173. it had cratered 228 yesterday. the s&p still up about 50 points, coming off the boil here. what makes the spikes today even more interesting is that they are happening as treasury yields head northward and on the heels of a much hotter than expected march jobs report.
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we're looking right now at 0-year treasury yield of 4.38%, that is a gain of7 basis points. standing by live, trader jon najarian and peter schiff of euro pacific capital. we're going to talk with them about these wild market moves, how to trade them, gold's record march and more in just a moment. but first, president joe biden is about to speak at the site of the francis scott key bridge. the president, we are expected to hear him talk not only about the victims, all six of them who died when the bridge collapsed more than a week ago, but also the administration has approved $690 million to rebuild the -- $60 million to rebuild the bridge which was knocked down when the 985-foot cargo vessel hit it march 26th. as we said, killed four people, presumed two others dead. in the last two hours, president biden made a flyover of the disaster site, met with local and and state officials. his visit and his speech, which we we say is upcoming any moment now, come as a combination of
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government agencies rush to get that bridge cleared from the water in order to reopen the port of baltimore. so this port, huge business angle here, is key to maryland's economy and, quite frankly, the entire eastern seaboard. it supports more than 15,000 direct jobs, nearly 140,000 connected to the port work. it serves over 50 ocean carriers that make nearly 1800 annual visits, generates nearly $3.3 billion in total personal income. this port if handled more than 847,000 autos and light trucks last year coming in and out. it is, of course, the biggest u.s. port for the car industry the for the 13th straight year. what is happening right now? well, the u.s. army corps of engineer ifs now estimates that it will have cleared up until the last couple of hours enough debris to open a temporary channel by the end of this month. and it lands to have -- plans to have another channel done to
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make the portion pull arely operational by the end of may. griff jenkins is live in baltimore right now following the president's every move. what else are we expecting to hear a from the president, griff? >> reporter: well, liz, right now we have secretary, transportation secretary pete buttigieg taking to the mics, and president biden will speak next. you're very right, your opening words there the are so spot on, you can't overstate the economic impact of the port of baltimore. it was number one in autos, in light trucks as well as a big, top port for the farm equipment. that's why when you hear governor moore talk, he talks about this impact isn't just affecting marylanders, it's affecting the farmer in kentucky, the automaker in ohio as well as restaurant owners in tennessee because it's a big head-- import e of sugar and spice. of it's also one with of the top ports importing for the liquid natural hick bifid gas. so it is all across the economic supply. then you take things like
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carnival cruise line are, they had to divert their ships out of here down to norfolk, virginia, and they've already estimated a $10 million loss on their sheet this year. now, the port of baltimore delivered a $70 billion economic impact for the state of maryland with last year. this is clearly going to have that impact. so that's why we expect president biden to not only address, first and foremost he'll talk about his administration's commitment to bring the full force of the federal government to try and reopen this port. and and also he will implore congress to quickly authorize federal funds to fully pay for the cost of rebuilding the francis scott key bridge which will take, as we have heard, years. and, of course, the recovery will include the search for those four remaining bodies believed to be still under that water. but number of companies that are here whether it's ups or amazon or dominoes sugar or the others, that is clearly going to be a part of this. and the small business
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administration folks are here as a well, or and we'll hear more about that. now, governor wes moore did sign an executive order yesterday that's going to the try and bring more help, but it is very clear that they will need federal support and that $60 million you mentioned, that's like a down payment, a drop in the bucket of the overall cost estimated. that was just to get things operational and moving. it's going to take a lot more particularly when you talk about the economic impact as we have those longshoremen, those stevedores who are going without a paycheck. today estimate that $2 million in wages a day are being lost. so you're getting commitments from some of these businesses whether it's an amazon or dominoes sugar saying they're going to continue to keep their employees with a paycheck or, but also the immediate port workers of whether there's some 8,000 directly working on this port tar going to need to figure out -- that are going to need to figure out how to pay for food, gas and other essentials as they head into spring. it's going to be a big part of the conversation here. the ore thing i'll leave you
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with this, liz, as a pete buttigieg keeps talking, i've got to stop talking when the president's about to take to the mic, but i do want to say one with thing we'll be listening for is what the president has to say about accountability. they fully hold these companies accountable if they're found liable like the singapore owners of that shipp, the dolly -- of that ship. at the end of the day, the american people are footing the cost for this rebuild and recovery right now. we'll see exactly what he has to say, liz. liz: sure. what contributions are made by them if, indeed, as you say, there's some guilt found. griff jenkins live from baltimore, thank you so much. folks, we've got about 54 minutes left to trade before we close out what's been a volatile first week of the second water with. even with the point gains that we're seeing for this session, you can see the dow is still on pace for its worst week in more than a year. it will have lost about 2.25% for the week. s&p down 1%. the dow and the s&p, by the way, are on track to snap 2-week winning streaks, and and it looks like the nasdaq will lose
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about 11, just under 1 -- 1% for the week with. the gains we are seeing today though come on the heels of the march jobs report. u.s. employers hired 303,000 workers in march, way more than the 200,000 expected. up employment ticked down to if 3.8% from 3.9. annual increases in wages did soften from the previous month but still came in up 4.1%. this stronger labor market complicates the federal reserve's stated plan to cut interest rates sometime this year whichs has triggered a stellar rally in precious metals. over the past five sessions, look at the move in gold. gold has gained about, let's see, four full percentage points over the week. $60 per troy ounce. and as you see, we've got another fresh record high for the yellow metal. silver is no slouch at all. it's looking at a 01 -- 10% gain week to date.
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silver is melting up this week. nice move there. let's bring in the floor if show traders to tackle all of it, economist peter schiff joins us along with options king jon najarian of markets rebellion. jon, at this time yesterday, stocks plummeted on news of that tense phone call where president biden basically threaten. ed prime minister netanyahu saying unless israel agrees to a ceasefire in gaza, the u.s. might pull out aid. but -- or at least diminish it. that stock selloff we saw yesterday appears to be over at least for now. did investors who were hoping for an entry point just simply miss it because it was so bad? >> i guess the simple answer is, yes, liz. but i didn't view yesterday's, you know, very small pullback in terms of a percentage move, i didn't view i that as an entry level really not for the way that i trade. i think you'd really have to be a high frequency trader practically to get into that. i do think we'll get more opportunities, liz, both from
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the tensions in the middle east perhaps putting some pressure on stocks. we've seen the volatility index up 30% just in the last five trading sessions. and we've seen the crude oil index, the ovx, the volatility of crude oiling moving up substantially. so i'd say that could create a better entry in the coming weeks as well as more fed speak like mr. neel kashkari that you just detailed. liz: we're putting up on the screen what you would buy if you were an investor who wanted exposure to the markets, jon. there are call and put option toes that you could mix and match. >> well, you could. of course, that's always true. and, you know, you're ap astute market watcher and trader, liz -- [laughter] i would say that this i would be buying at the money s&p 500 calls. out in august. i'd want to give myself time. they're going to decay much slower. and then i would start selling may options, call options against those that that i
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purchase. the reason for that is faster time decay and also that i think we're going to get a move or a non-move perhaps if at that meeting 26 days if from now when we actually get the fomc meeting again, liz. husband les okay. peter, no flash dip at all. no opportunity to jump into gold over the past at least month or so because it just keeps hitting record after record. can you explain to our viewers why we are continuing to see gold spike so high? >> yeah. well, first of all, liz, you know, the labor market isn't strong, it's weak. all the jobs that are being created are part-time jobs for americans who are forced to moonlight because inflation is driving up the cost of living. and inflation is going to keep going up. that's why gold is rising. it's a signal that the monetary policy is wrong, that powell's rate cut could go down as the biggest mistake the fed has ever made, and they've made a lot of mistakes.
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that's saying a lot. in fact, they should be raising interest rates. but the gold traders know that powell is too afraid if to raise interest rates because he'd cause a financial crisis. but if you look at the landscape, oil is already up 22% this year. it was down 10% last year, and the cpi was up 4.1. imagine how high it's going to rise this year with that move in oil. look at the crb. both the commodity prices, which were flat last year, are already up 17% this year -- liz: we should show oil if we can. >> so inflation is coming roaring back, and the fed if is pretending that it's gone away. liz: yeah. you know, you look at oil as well, oil has had an incredible move. gold, of course, hitting a record now, $2,3432 a troy ounce. but let's bring back jon to the conversation. you know, when you talk about oil, you add other commodities into the mix whether it's around r -- arbob gasoline, wholesale, just about everything else except corn, wheat and natural gas. those are down year to date.
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what is the trade there? because you can look at the volatility that we've seen lately and -- well, i'll let you tell our viewers, jon. >> well, we've seen a lot of speculation, liz, and even some m&a, mergers and acquisitions, going on in the energy space. and that's not surprising because we've seen a 6-month high, i believe, out of crude oil as it trades up through $86 and brent is through 90 right now. middle east texs as well as what's -- tensions as well as what's going on with drones back and forth russia to ukraine and vice versa, that's all going to put more demand or at least the lessen the supply, liz. and either of those, either taking some of the supply away or increasing demand into the fourth of july holiday which we see every single year, that's going to push oil up, i think wti has $90 a barrel written all over it. liz: whoa. >> transocean is one of the plays in that space. i would keep my eye on those oil
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stocks, liz. liz: and you can always buy oil volatility, the ovx, which is right up on our screen right now. >> yes. liz: while it's slightly down right now, it has add a pretty significant runup over the past more than six months, i believe, or at least year to date. all right. peter, you've got to explain about the options to buy, the opportunities to buy oil names or let's say, for example, gold and siller is names. silver's really roared higher. what are your picks here? >> well, you know, i think that these minding stocks are going to explode -- mining stocks are going to explode if almost any day. in this week the gdx, which is an index of senior gold mining stocks, is up 7%. gdxj, which is junior mining stocks, is up 9. but these stocks are still dirt cheap. they're barely positive on the year because the whole time gold was rising, everybody expected it to fall. you know with, a couple of
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months ago or one month ago analysts were downgrading newmont mining and barrett gold to sells, you know, basically holds and sells. these stocks are now up 30% since those downgrades. wall street has got this trade completely wrong. you should just buy these stocks. i manage a gold fund, the euro propacific gold fund, people can buy that no load. if you want to buy individual stocks, i give you a couple of names, pan-american silver for silver. just buy 'em. you don't have to wait for a dip. they're cheap. even though they've gone up so much, you've just got to get into these names. it's a stealth bull market, and especially if you were foolish enough to buy any of these bitcoin etfs, you should sell them right now before the market closes, take that money, put it into some gold stocks. bitcoin is fool's gold. you want to own the real thing. and if you really want to make ten times your money, fifty times your money, i think you can do it in these junior mining stocks. liz: junior mining stocks, two
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names, aem and paas for those of you -- >> well, those aren't juniors. liz: those are big names but some other names as well. thank you. peter schiff, jon najarian, great to have you. dow jones industrials up 327 points right now. up next, israel's war against hamas driving a wedge between the u.s. and israel, giving iran pretty much exactly what it hoped for. could the biden administration really turn its back on the only true democracy in the middle east? if former israeli ambassador to the united nations danny danon standing by live to tell us how he is deciphering yesterday's contentious phone call between prd joe biden and israel prime minister benjamin if netanyahu. even in the midst of the war which began october 7th, israel's vibrant business has been a win for nervous. been a win for nervous. eis is the etf. ♪ t traditions. (woman 2 vo) i have a great boss...
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liz: breaking news, it appears president biden's threat yesterday to slap conditions on israel if it wants further u.s. aid has gotten a response. the israeli government saying today it will reopen the eres crossing in order to allow more aid shipments into the northern part of gaza. the checkpoint has been closed since the october 7th massacre which, during which hamas record is slaughtered 12000 civilians. -- 1200. israel also agreed to send more assistance into a port. yesterday's combative call between biden and prime minister netanyahu i hue comes just days after an israeli airstrike killed seven food aid workers and and a separate attack killed a top iranian military officer in damascus. meanwhile, according to israel hamas still holds roughly 134
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hostages including 8 americans. here to discuss the developments right up to the minute is former israeli ambassador to the united nations, danny danon. ambassador, is it fair to assume that israel's move to increase the now of aid to gaza is in direct response to biden's e threat yesterday? [no audio] >> well, we are on discussion with our allies and from the beginning, liz, we said we have no issue with aid going into gaza. our problem was happening with aid once it enters gaza, hamas is taking over the aid, selling it, and it's not getting to the people who actually need it. so we will not limit the aid amount that come into gaza, but we have to think about the mechanism that the aid will be districted through, ask that's the biggest challenge -- and that's the biggest challenge. any country that wants to support, wants to help that's on the ground, it's very hard to
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find locals who will be willing to work with international organizations or with israel because they're still afraid of hamas. that's why we have to finish the job. we have to eliminate hamas completely and allow a new regime to step in and to deal with the reconstruction of gaza. liz: two battalions of hamas if fighters are still well entrenched, at least two battalions, and here president joe biden has, you know, he had this readout. the white house offered the readout of the call. so it was basically just sort of here's what they talked about. and we can put some of it up. in essence, the president emphasized that the strikes on humanitarian workers and the overall humanitarian situation are unacceptable. it goes on and on. he says, you know, israel's got to be, with respect to gaza and the u.s. policy, israel's got to be pushing for immediate action to, you know, address civilian harm. you have to go all the way, ambassador, down to the last couple of lines before there was
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any mention of the hostages or any mention if at all. there wasn't any, of hamas if' role in starting this whole disaster. what do israelis, you know, how do they absorb that? >> liz, we haven't forgotten what happened on october 7th. we haven't forgotten the thoughter of innocent babies -- slaughter of innocent babies in front of their parents, the raping, the kidnapping, hostages that are still being held by hamas, and we've got testimony on atrocities against women, against young girls who are still in the hands of hamas, talking about teenagers at the age of 18 and 19. so we will not forget that. we respect the u.s., we are grateful for the support coming from the u.s., but what we have to realize is for us we don't have any other option. liz: right. >> we can cannot stand idly by and wait for the u.s. or u.n. to come and release hostages. we will have to do it, and we have committed to do that. and regarding the tragedy of the
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aid workers, we regret that. it was our mistake. but, you know, mistakes happen during wartime. it's happened to the u.s. military when you operate in wartime. you make mistakes. and i give you two examples. we had -- [inaudible] who were killed by friendly fire. we had hostages who were killed by soldiers. so we regret that. we look into the incident, we had a very intensive inquiry, and we will do everything we can that it will never happen again. but when you are in a war area, those things unfortunately happen. liz: yeah. well, clearly israel owns up when today make mistakes and, hmm, something hamas is not doing at all a. we shall continue to watch it. ambassador, thank you very much. >> thank you, liz. thank you. liz: former ambassador to the united nations from israel, ambassador danny danon. we've got this story, airbnb says it's a major beneficiary of the solar eclipse economy.
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and the eclipse hasn't even happened yet. we will tell you what they're seeing as the nation prepares to be dazzled by the astrological wonders and, of course, or we'll see it all on monday. and we will be covering it bigtime on "the claman countdown." the vacation home rental company, yeah, airbnb, up 36.6% over the past year with. today it's gain requesting another 2%. gaining another 2%. we are coming right back. the dow gaining 310 points. s&p and nasdaq also rallying. ♪ —last one everyone. i asked myself, why doesn't pilates exist in harlem? so i started my own studio. getting a brick—and—mortar in new york is not easy. chase ink has supported us from studio 1 to studio 3. when you start small you need some big help. and chase ink was that for me. earn up to 5% cash back on business essentials with the chase ink business cash card.
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liz: fox business alert, we've got a big acquisition sending shock waves through the health care sector at this hour. j&j, johnson and johnson & johnson, has agreed to buy shock wave medical for $13.1 billion. that works out to about $335 a share. shock wave at the moment is at $326 can which change, up about 2. j&j says acquiring the medical device company would expand its heart disease portfolio, so shock wave basically specializes in medical devices that treat cardiovascular diseases. back in february shock wave projected revenue for 2024 in the range of $910 million-30 million. j&j is flat to slightly lower. we mentioned airbnb, getting a slow lahr -- solar boost up just under 2% right now after the company revealed is, oh,
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it's going viral, this graphic, that shows booking demand for the solar eclipse that almost treactly tracks the path of totality. here it is, we'll put it on the screen. millions of travelers are expected to flock to the more than 2300 cities and towns where they can view the total eclipse on april 8th. okay, so you see that red band? that's that. so cities like cleveland and niagara falls are seeing a 98% occupancy is rate for bookings from sites like airbnb and vrbo, and it goes all the way down to texas. it's going to be a fascinating day and monday we're all over that story. tesla investors are pumping the brakes on the stock, down 3.5% on news from reuters that the ev maker has now canceled plans to offer a low cost model. but elon musk, the ceo, says, no, not true. that's not the case. in a post on x this morning, musk accused reuters of, quote, lying again. investors are hoping a cheaper
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model would help drive growth making tesla a mass market automaker. the current model, the model 3 sedan, retails for about $39,000 in the u.s. with the lower cost model expected to start around $25,000. and apple is chopping down its staff. the tech giant laying off more than 600 employees in its first major round of post-pandemic cuts. the layoffs, which go into effect may 27th, affect 8 offices in santa clara. the filing did not mention whether they were connected to a specific company project, but as we all know, apple basically ended its whole idea of building an apple car, so who knows if they were apple car employees, but right now apple is gaining about two-thirds of% to $169.86. the u.s. jobs market, we not that march jobs report today? still looking pretty. but are cracks beginning to show specifically in the luxury retail fashion market? if rebecca min cough, the
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designer and businesswoman behind the must-have morning after bag with, tells us what she sees in the marketplace. and it doesn't look like spending on amazon stock is slowing in any way, shape or form. right now it's sitting right behind caterpillar in second place on the dow heat map here. and by the way, hitting an all-time high for amazon, gaining 2.6%. " claman countdown" coming right back. ♪ ♪
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♪ if. liz: it has been the week of warning from retail. pvh, this is the other than of calvin klein and tommy hilfiger, raised the red nag monday guiding for a deeper than expected in sales this year due to softening consumer trends. it has been hit hard, down 22% plus week to date. and ulta dropped a bath bomb, warning it's seeing mixed consumption signs amid rising
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debt. that one's down 15% week to date. levis strauss not having as difficult a time, but it also reported an 8% drop in quarterly revenue on lower wholesale sales. it's down about 2.25% today but still slightly up for the week. all that news has rent the run will beway shares further stumbling. right now -- runway. down 12.25% to an all-time low right now. the brand, which initiated a reverse stock split this week to maintain its nasdaq listing, has been losing subscribers, struggling to get americans to pay anywhere from $90-240 a month for access to brands like marc jacobs and rebecca minkoff. speaking of which, let's bring in the designer behind the line, also the cofund to e of concern cofound orer of female founder e collective. rebecca, we have a very hot brand, bags, leather jackets, so much more. how is the consider looking to you right now? >> yeah, i think that because we
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started this brand with my connection to the consumer and and we still continue that very much to this day, our saleses are actually up -- sales are actually up double digits over last year, and and i think we have truly reidentified the brand values, why she comes to us, what she expects from us. and i think the brands that are winning are doing just that, they're connecting with their community, they're surprising and delighting their customer and offering them the things that they close their eyes and say, yep, we know this is the brand for this. this is how we're showing up. liz: well, i'm not beating up on pvh, but when they say softening consumer trends -- [laughter] consumers will soften their buying when they don't have a product they like. so what i'm e hearing you say is you're really reading the consumer, you're reading that customer, and and you're offering them what they want. what is that at the moment? >> i mean, for us we're seeing a huge increase in our higher price point bags. she wants a bigger bag that's selling anywhere between 295 and
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395. so we've expanded that category offering. you know, during the pandemic we started these 10 a.m. sort of panic calls, we continue them to this day, and we're talking about her, our customer, what she loves, what she wants and how do we get back into things that are working very quickly. so it's just that close-knit connection to the consumer, and it's about being with culturally relevant, you know? she knows that i stand for women, i co-founded my business to support women. she is a woman. so it's meeting her also where she is and not just pushing product at her. liz: well, where she and many of us are is we don't want to spend $2,000 on a purse. so i think your price point is very attractive when you mix that a with fashion. then it becomes just a win-win. as you say is, you have worn many hats in the fashion industry. and on top of it, you were the first chief revenue if officer -- sorry, sorry -- [laughter] as a designer, you hear warnings about sales. we're hearing that you are not
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saying that right now. let's talk a little bit about the jobs report that we just got today, a build of 303,000 jobs. but, you know, sarge, one of our traders pointed out that there was a massive jump in temporary workers. 500 plus thousand which means some of those were taken from full-time jobs which converted by employers to part time. are you seeing in the retail industry that it's mostly part-timers now and they have people basically on a day-to-day basis for as-needed product? if. >> i think for sales people, i think for department stores seasonality is key, obviously. you see department stores ramping up in a huge way during the holidays, but i think around certain times whether it is, you know, it's music festival season, so where are the shoppers going and how do they start of staff up and then let it go lax during the slower months. you know, or we don't have our brick and mortar stores running at the moment, but i think for us it was always about being
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flexible and nimble. high tourist season in new york city, we would add to our staff as we needed and wind it down during the slower months. liz: i've got to ask you about fast fashion. shein in particular. that is the big chinese company that had huge revenues, $2 billion. it doubled its profits to $2 billion, to more than $2 billion as it awaits listing on the new york stock exchange. a lot of this stuff is churned out, it's very, very inexpensive, and it certainly adds to the landfill. the fashion industry is the biggest contributor to the landfill. people always think it's dirty fuel and things like that, but it's not. how do you square that with everything that you put out there for market and purchase? >> so it is true, fast fashion is the largest contributor of waste to this industry. if people were to take their money buy designer, buy from women, coupe what? if you are cutting the heels of an industry that doesn't pay its workers fairly, that has suspect
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practices, that also fills landfills. so i would say as much as you want that hit of something arriving to you overnight, it doesn't last long, and it goes away quick, you know? really invest many something that lasts. i'm so proud of our product. it stands the test of time. i see women on the street 15, 20 years later with a product, and you you don't get that from fast fashion. halt the need, buy from deciphers that are independent and that really, truly need your support right now -- designers. liz: you and allie wyatt founded the female collect arive, and i think that basically brings together women, women business people. retail is heavily weighted to women. i remember during the housing implosion, that was a male-dominated problem because, of course, a lot of construction workers were male, so it was a man session, a man recession. they had trouble getting jobs. are women, are you seeing any breakage or any kind of wavering
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when it comes to women finding jobs they need that a they can use to support their families? >> you know, what we're seeing is that more women left the workplace during the pandemic than ever. those numbers are beginning to change, but so many women started their own businesses. they didn't have the education or the resources, so it was really important that allie and i create a strong community, a strong education platform. and and hearing and actually being taught by experts like the ceo of stacks, you know, the founders of 21 seats, these are all women who have built things out of literally their kitchens, and some of them had billion dollar exits. for us, it's about continuously exeducating founders, women that want to start their own companies, women that are thinking about leaving to start their own companies so they start off on the right foot and actually find success. liz: good for you. good for you and allie. and i'm never if letting go of my rebecca minkoff suede jacket
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that is several years old. >> i want to see it. you got gotta a bring it out. liz: i'll tweet it out. good luck to you. >> thank you so much. liz: well, not even a 4.8-magnitude earthquake in the new york/new jersey area could shake investors today. our $4.1 trillion countdown closer is about to tell you three things investors don't know but should to keep their portfolios steady. "the claman countdown" is coming right back. a little bit of a shaker here caught on camera. ♪ -- and my niece are weak. ♪ i can't seem to stand on my own two feet. ♪ who do you think when you have such luck -- ♪ i'm in love, i'm all a shook up ♪ at ameriprise financial our advice is personalized based on your goals, whatever they may be. all that planning has paid off. looks like you can make this work. we can make this work. and the feeling of confidence that comes from our advice... i can make this work.
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♪ ♪ liz: let's take a look at djt, trump media and technology. right now down about11.6%, trading at its lowest level since the stock closed its spac or reverse merger deal less than two weeks ago a, so down about 29 since then. this despite the company -- well, because the company reported it lost $58 million in 2023. earlier this week with former president donald trump was still singing its praises, posting on truth social on thursday, quote: i think truth is amazing.
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first of all, it is very solid having more than 200,000 in cash and zero debt. does he mean 200 million? $200,000 is not a lot. no, it's $200 thrkz million. sorriful okay. while trump's fortunes are tied to the success of his media company, donors are wonder -- pondering what to funnel their money into. >> trump has been having really good weeks lately. say what you want about truth social and, obviously, there's issues with profits and reported losses and, you know, cash flow and user traffic which is not even close to being where it is, it's still trading on his brand, and his brand is amazing. it's, donald trump, because of this brand and because of everything else, you know, this thing, you know, his stock is worth $5 billion. he just got handed, like, handed
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a chunk of change. can't sell it now, he's got to sell it in the future. the it's a heavily shorted stock. but here's where trump's other stock is rising, and that's as a presidential candidate. this is not a campaign commercial, okay? i've been critical of donald on policy matters, i've been critical of the president, you know, his demeanor at times, but, you know, he is doing very -- for a guy that's been indicted four times, he's even or beating biden in the polls, and and here's something that's really significant and i think it's an underplayed story, the gop if donor class which for a time was just boycotting him because, you know, they liked desantis, they didn't like january 6th, they liked nikki haley. from what i understand, tear coming back. and they're coming back because the polls are increasing, but they're coming back because they think the biden administration's gone so off the deep end to the left. but they're coming back, and he's got a big fundraiser on saturday. john paulson, the hedge funder --
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liz: those tickets are expensive. >> yeah. the top ticket is almost a million dollars. remember that. [laughter] that's not really out of my range, but still -- liz: who's coming? are you hearing any names? >> here are the names that are not coming finish. liz: not coming? i said who's coming. why are you going negative? >> because here is why, because i'm negative. because i think this is important. if he can get these two names back in trumpland, it'll be key for him. one name is steve schwarzman. sources are telling the fox business with network, he's not decided if he's going to support donald trump. now, that's huge because that means that a guy that he was very close with, steve is the ceo of blackstone, a guy who is, you know, on his advisory committees, if he doesn't -- if he boycotts trump, it's kind of a blow. he's got lots of money, and he can raise a lot of money. so that's one. he's on the fence. somebody who's as of now out of it totally is ken griffin of citadel. what sources are telling me is
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that he is not going to give money to trump, he's not going to support anybody in the presidential campaign. as of now. i mean, these things could always change, but with right now he says his commitment is, according to people close to him, is to the, essentially, the senate races where republicans could flip the upper chamber and some house races. so if trump could get those two,ing that will go a long way in raising money because he's still behind biden in the money race. now, does that matter? if trump generates gazillions of dollars every time he opens his mouth. i don't think money's going to be a problem. but, man, if you had money to fire bomb joe biden while you're in court, that's a huge thing. and that's a huge advantage. so i think he's probably going to work with on schwartzman, my guess, because they have a history. but look this weekend, or john paulson will be there, steve wit cough, real estate guy, he'll be there. a lot more. a friend of mine got invited, and he's not going.
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liz: thanks for your two cents, charlie. >> that that's right. i met 50 cents the other day. liz: cent. singular. >> no, 50 cents. liz: no, 50 cent. there's me and fiddy. liz: it's not fifty, it's fiddy. >> 50 cents. i called him mr. cents. and he was fine with it. [laughter] liz: oh, my god. his name is curtis. he lives down the street from me. >> does he really? liz: uh-huh. in jersey, by the way. i'm not going to out him -- >> nicest guy in the world. we met at maybe one of the best restaurant thes in the -- mr. cents -- liz: cent! [laughter] >> he has good sense when it comes to italian food, i can tell you that. listen, you've not to do it grammatically. it's 50 cents. liz: all right. your aarp card is coming in the mail. [laughter]
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i'm kidding. i'm right behind you, buddy. >> listen, you can say i'm old. it's still 50 cents. centings. [laughter] liz: for the week and the major averages, we're going to make sense for a moment, are in the red. the dow will take the biggest hit. past five days, lost about 2.25%. the s&p has a come back off the a floor a little bit here, but it looks to close down about 11% on the session -- on the week and nasdaq down three-quarters of a president. -- percent. at the end of last year, $4.1 trillion under management, michael, i want to know where you have your holdings, your money and where you're waiting to commit some cash. >> so, liz, absolutely, it was a tough week for markets, but it's been a great trend. and i think what's really interesting here is the jobs report continues to underscore that the economy is in great shape. this idea that higher interest rates at 5.25, 5.5, the markets have been able to withstand this at every turn. the labor market's in good shape, housing prices are
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rising, earnings are growing. and if as a result, we're very positive on the market. we like technology, we like communication services, we like industrials. that's where the earnings are. that's where the profit margins are, and that's where the growth is. liz: okay, so let's talk a little bit about the names that you like because some of them have had incredible runups. adam hiller is, i believe, at the top of -- caterpillar is at the top of the dow jones industrials. it's had a very solid move. microsoft looks good, meta. you're still piling into these names? >> absolutely. we continue to like these names because this is where the earnings growth has been. you look at microsoft whether it's cloud computing, whether it's a.i. technology, they continue to grow their earnings rapidly despite kind of elevated valuations. same thing with meta in terms of its growth both on the earnings front and the revenue front. and it doesn't look like this is going to end anytime soon. you pivot to industrials, they
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continue to have pricing power. they're selling more volume with on higher prices, and they'ring with able to increase -- being able to increase their profit margins. as we pivot to industrials, liz, they are a little bit cheaper than those tech stocks. again, i think the big takeaway for us is that the economy continues to do well, the labor data all week showed that. the jobs report showed that today, and we think that the economy's in good shape. and as long as it is, we wan to be in the sectors and companies in the market that are growing earnings and their profit margins the fastest. liz: michael, i'm with ya. we've had an incredible runup. okay, so a stumble this first week of april. no big deal at least for now. dow snapping a 4-day losing streak, gaining 307 points. the s&p up 56, the nasdaq up 197. we're all about the solar eclipse on monday. that's going to do it for "the claman countdown." ♪ if. hello

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