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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  July 21, 2016 3:00pm-4:01pm EDT

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nomination tonight at 10 p.m. eastern. it's a moment that many thought would never happen. you remember back in june 2015 when trump first announced his candidacy there at trump tower. join me and our fox business all-stars including lou dobbs tonight for our special coverage. i'll be leading the prime time coverage starting at 9 p.m. eastern. see you there. liz. liz: tonight is the night. donald trump set to accept the republican party's nomination for president. just over an hour ago, you'll see it here on the screen, the billionaire businessman made his final walk-through at the quicken loans arena. he was joined by his daughter, ivanka, who will introduce him this morning, speaking to the floor people who are in charge, seeing how that podium feels. the trump campaign working as well behind the scenes to shove the latest controversy behind them, senator ted cruz's prime time speech during which you've heard he only mentioned donald trump by name once. cruz booed as he left the stage, but today he gives the reason he
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refused to endorse trump. and one supporter in nebraska, governor pete ricketts, could argue he's had the same issue. trump insulted both men's family members during the primary. protesters went after trump, governor rickets with us live again on whether now he plans to follow cruz's lead. and fox news' greta van susteren is here on what ivanka needs to say to convince millions of reluctant female voters that trump is the right choice. the dow in danger of seeing its winning streak derailed. blame intel as the dow jones industrials falls 110 points. we're now at 8,484 -- 18,484. we're less than an hour to the closing bell and, yes, pokemon go's pikachu now needs a hollywood agent. it's true. let's start the "countdown."
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♪ ♪ liz: yeah, pikachu is all do i go with william morse, icm? he has to decide this, but this man on the screen is helping the bears trip up the bulls today. the head of the european central bank, mario draghi, announcing no move, leaving european interest rates unchanged with a check back in september error message. here in the u.s., look, markets are focusing on that that but also on earnings. some of them have been good, but also on this. after seven days of records, we got strong housing data, existing home sales hit nine-year highs. but despite that the dow is on track, looks like it right now, folks, to snap its record closing streak. looks like it won't be today again. intel is the problem child here, leading loser on the dow. second quarter earnings did beat estimates per chair, but the chip giant's rainmaker which is
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its enterprise server business pretty much created by the former ceo stumbled, missing on revenue. so intel is the worst performer not just on the dow, but on the nasdaq as well. flip it over, though, general motors pushing the pedal to the metal, reporting second quarter profit morn doubled on strong u.s. sales where at its four u.s. plants they are running 24/7, 100% capacity. the company raised guidance and also announced it's diving into self-driving car business. gm paid $580 million for the start-up cruise automation. already invested about $500 million in lyft as well, but shares jumping about 1.75% to $32.04. to cleveland where donald trump will officially accept the republican party's nomination for president. look, it's been a slightly bumpy couple of days at the convention. last night a little bit more bumpiness here. a dramatic night filled with boos, chants and jeers.
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the long and devisive 2016 primary season played out in one final hurrah, although for texas senator ted cruz it was one final boo last night, overshadowing in a way vice presidential nominee mike pence by taking his moment on the stage to rip open fresh republican party wounds, failing to endorse donald trump, encouraging voters to, quote, vote your conscience. trump all but interrupted cruz's speech, wading into the crowd. but just hours from now the true test, this final night of the republican national convention. we are getting a parade of speakers on the docket, but on the what's expected to be the most be electrifying moment, ivanka trump and venture capitalist peter thiel. blake burman with the very latest on the cruz fallout, peter barnes at the quicken loans arena with the floor
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chatter ahead of tonight, jeff flock standing in the heart of what is expected to be the largest protest of the entire week, and lori rothman on the floor of the new york stock exchange watching these markets tick by tick, down. but i want to start with ted cruz. why? because the boos and what happened just hours ago are still being talked about. this is sort of that top-trending story when it comes to what's going on. the texas senator -- and this is from this morning -- doubled down on his endorsement snub insisting he didn't say a single negative thing about donald trump but also saying that he is, quote, not a servile puppy dog. vowing not to support anyone who wages personal attacks against his family. blake burman is in cleveland outside the downtown convention center with the very latest. blake? >> reporter: hi there, liz. it was supposed to be friendly territory for ted cruz. earlier today after he gave that speech last night in which he received boos from inside the quicken loans arena. earlier this morning he spoke to the republican texas delegation
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at a breakfast here in downtown cleveland. a-up of those delegates -- a hundred of those delegates were supporters who voted for him during the primary process, and it really didn't get any easier for him at that breakfast this morning. he received immense pushback from republicans within his own state who really wanted to know why he pretty much recanted from his pledge both back in august and then in march when he said that no matter what, he would end up supporting the republican nominee for president, in this case donald trump, even though he didn't throw his support behind trump last night. you're right. cruz said in that speech this morning -- really a question and answer is session -- that he didn't say anything negative about donald trump last night, and he also said one of the reasons that he can't really fully get behind him at this point is because of the attacks that trump made on cruz's wife and on cruz's father. cruz said for him it's a matter not of politics, but of rights and wrong. listen here to cruz. >> no, no. this is not politics.
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i will tell the truth, i will not malign, i will not insult, i will not attack. i will tell the truth. this is not a game, it is not politics. right and wrong matters. we have not abandoned who we are in this country. [applause] >> reporter: shortly after that breakfast, donald trump sent out a tweet about cruz speech from last night. it reads, and i am quoting here: other than a small group of people who have suffered massive and embarrassing losses, the party is very unified, rump says. -- trump says. great love in the arena. liz, we've been talking to a bunch of republicans today. i'll give you a couple of examples. rick perry says he feels that ted cruz risks being a pariah within the republican party. and governor mike huckabee told me that he feels what ted cruz did last night, according to huckabee, he says is a disqualifier for cruz for future republican races. liz? liz: ted cruz has never marched to the beat of the drum that anybody likes to hear, but i don't know why anybody is surprised.
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blake, it certainly makes for good drama and chatter. but on this final day -- >> reporter: yes, it does. liz: -- donald trump took the stage just a short time ago to kind of feel it out with daughter ivanka trump ahead of his pig speech later this -- his big speech later this evening. you can see where there's screens, he was talking to people. i was watching him, he was pointing and speaking to the floor director there. fox has learned that trump's speech has been put through a software program to avoid any questions that plagued his wife melania's speech earlier this week about whether any of it had been cribbed or taken from elsewhere. so peter barnes is on the floor of the quicken loans arena with more details on what we can expect tonight. peter? >> reporter: liz, as you know, the republicans have been having a theme a day for the convention, and today's theme -- tonight's theme is make america one again. but officials say that trump
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will actually return to the theme of the first day and a theme that he's been talking about throughout his campaign which is make america safe again. according to one official, trump will discuss safety as a foundation of prosperity. he will make the case that by combating terrorism abroad and at home, securing the borders and providing safety for u.s. citizens and law enforcement that conditions will be set for america to realize its promise. so we're going to hear about the wall, we're going to hear about reforming nato in the age of isis and global terrorism, and we're going to hear a lot about law and order. and in his walk-through today, we heard trump bring that issue up a bit. listen. >> i love ohio. it's great to be here. thank you, everybody. [applause] i love cleveland. and they're doing a great job. and the police are doing an incredible job. thank you very much. >> reporter: now, a trump
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adviser told blake burman that this speech has gone through a lot, a big iterative process back and forth with trump and his adviser. liz? liz: it is interesting that they put it through the software program which, quite frankly, a lot of professors have when they put kids, you know, trump -- their final papers, right? make sure they haven't stolen any information. i don't think that's ever going to be a problem. donald trump usually speaks from his heart and from his head. peter, thank you very much, peter barnes. so much more coming up from the gop convention i cleveland. greta van susteren going to join us live along with nebraska governor pete ricketts who had a similar situation in the earlier when donald trump had a thinly-veiled threat against his parents. they had donated money to a super pac, even though they're republicans. he's there. is he going to pull a ted cruz, or is he hanging with donald trump? we shall see.
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in the meantime, we just hit session lows. the bears are pulling the dow over to the side of the highway at mile 10. nine days of gains, now it looks like the blue chip index is tapping the brakes. let's get to the new york stock exchange. we're seeing losses, lori, of about 123 points. >> yeah, blame japan, liz. we were talking yesterday about how all central banks were standing ready to induce still fuss if need -- stimulus if need be, and everyone expected japan to inject money directly to business and consumers to help offset deflation which has been the story in japan for decades, as you know. well, that did not happen. that took a lot of folks off guard. so that set the tone. and as you said, after ten consecutive days of gains for the dow, no surprise taking a breather here today. we are in the midst of second quarter earnings reporting season. let's look at some winners. in technology, no less. how about that, qualcomm shares today. qualcomm shares soaring, up better than 7%. company forecasting current
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quarter profit largely above estimates, they make chips for cell phones, and they're seeing demand potential in china. then you have ebay. this was a nice prize, 11%. new high, raising its sales forecast and revamping the online sales platform, and it's working for them. liz? liz: i definitely saw that. and i saw qualcomm. lori, thank you so much. >> anytime. liz: we're watching for some bigtime earnings after the bell today. 4 p.m. eastern, starbucks, at&t, visa, chipotle, the list goes on. after the bell will have all of these numbers as soon as they come out. if you own these stocks or want to think about buying them, watch "after the bell." the closing bell, we are just about 48 minutes away from that. intel at the bottom of the dow 30 heat map, losing $1.63. still pretty close to the 52-week high. and from belieu georgia to quite the whale of an app. facebook messenger now has one
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billion users. it's a rare feat in silicon valley. 70 billion images, a billion messages transferred every day. but here's what takes the real magic, it's the social network's third app that's managed to convince more than a billion people -- like the entire nation of china if you want to put it in that perspective -- to become active daily users. still have to catch up with google which has seven. facebook down just about one and a third percent right now. and donald trump's children have taken quite the starring role at their father's convention, but the last one may have the tallest task. greta van susteren joins us next on what ivanka trump needs to say to help her father improve his support in one very key demographic that just happens to be the largest voting bloc. greta's standing by. and we're live from the republican national convention when "countdown" comes right back. the dow is losing 123 pointeds, folks.
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perhaps has to scale the highest wall. she is tasked with trying to woo the woman vote, a group of voters her father has struggled to impress. how do we know that? well, to the latest poll numbers from the "wall street journal." presumptive nominee hillary clinton leads trump by 15% among the nation's largest voting bloc. greta van susteren, host of "on the record," joining us live from the convention center. we're not even sure that ivanka will tabbing the woman -- tackle the woman issue, but she has the power to change the tone with woman who aren't onboard when it comes to voting for her dad. how important is this moment? >> well, liz, if she doesn't say something, it's a huge missed opportunity for the campaign. i expect she will. let's face it, the woman's vote is very powerful because of its numbers. naturally, she wants to get the women's vote. her father has had a rough road in the past, so she has to smooth that over and so her father respects women, he gives them lots of opportunity in business.
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i'd be interested to know how many women are in the trump organization. but even more than that, he needs to reach to middle america, to the middle class and lower middle class people in the country who don't have all the money that the trumps have to say, look, i'm here for you. i'm here for you women, single mothers, the married mother who's trying to put food on the table, send a kid to college. she's got to be able to reach out to those women and say, look, my father is the one you should vote for. and you talked about that vote spread. that's a big vote spread, so she's got her work cut out for her tonight and on to november. liz: i think you're right, it would be a missed opportunity if she does not. last night her brother did pick out some of these voting groups where he said to the single mom, my father is running for you. to the guy who's lost his job because of an immigrant who was not legal took it, my father's voting for you. but she has that special role, it seems she's really above anybody else has this power to affect him. she's been a great adviser to him.
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so she's also, because we're a business network, we find it very interesting, she is a entrepreneur. she's got the shoe business, scarves, jewelry and pivoting to the business angle here, s somef it haseen made in china. she above anybody else knows that that's how you get an edge with your margins, by finding cheaper ways to manufacture good quality. how does she straddle that role? >> you know, liz, the amount of people who are in that sort of strata who run companies as women isn't quite as large as the number of women who are working, you know, in their communities, working for others. and so i think the bigger problem is that i think that, you know, successful businesswomen at the head of these big companies, they're going to be impressed with her. but what she's got to do, she has to impress other women who are not as successful as she is, and that'll be the ones whether they work in mcdonald's or run a mom and pop store someplace, i think that's the big thing. i don't think she needs to worry about, you know, the razzle-dazzle, successful women, i think she needs to sort of
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communicate with the other 99% of population of women and say this is why you should vote for my father, because he really cares about you. he will make your life better and safer. liz: let me dovetail to a different voting bloc, and that would be the gay and lesbian, transgender, bisexual group, the lgbt. last night two speakers -- ted cruz, but also newt gingrich -- referenced them and specifically talked about their constitutional protections. i i thought that was very interesting. you don't often hear that when you have big groups of conservatives together. what do you think was at work there? >> well, i actually -- and governor rick scott also discussed it on our show the night before. liz: yeah. >> as well. part of the republican platform is to create a constitutional amendment, pass one to deny marriage benefits to gay people. so is naturally, there's a lot of dissension in the republican party to sort of -- they want to make, they want to the unify the party, they want to welcome gay
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republicans, and that part of the platform, frankly, excludes a lot of republicans. so i think that was a message from speaker gingrich that the republican party's trying to say it's a big tent contrary to what the platform might suggest. liz: greta, before we go, you were broadcasting before ted cruz actually gave his peach. what was that moment like -- his speech, what was that moment like where the booing started and there seemed to be real tension and almost a fascinating moment there that could possibly go down in history? >> you know, i don't get senator ted cruz. he took the pledge. i don't get governor kasich. he took the pledge. he's even the governor here. they look like real sore losers. while we just talked about the republicans wanting to unify the party, it doesn't help if two of the people who are well known within the party are doing just the opposite. instead of saying we're onboard, they're saying we're getting out of dodge. liz: good to see you, greta, thank you so much. >> thank you. liz: "on the record," 7 p.m. eastern on the fox news channel. thanks to greta. the closing bell, here we
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go, 38 minutes away. and the dow is off the lows of the session but still down 114 points. red on the screen. the s&p down 11, the nasdaq losing 25. billionaire elon musk with the big reveal, his master plan for tesla years after i helped him show that roader the to our viewers. that was 2008, folks. he's got a brand new vision here, and it doesn't just include cars. he's invented a new term. plus, how the solar city deal plays into his company's big future. and we take you back out to cleveland where we've seen one of the week's biggest anti-trump protest. jeff flock on the scene. >> reporter: no flags on fire, but preparations underway for what would be the largest anti-trump demonstration of the convention. we marched earlier with protesters. we'll show you that in just a moment. ♪ ♪
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liz: we need to get to this live
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picture of public square where activist groups once again are taking to the streets to protest the republican national convention and party nominee trump trump. what you see here, we have people listening on xm sirius 113 in their cars. we have more police than demonstrators which is different picture. we see a couple people with signs. you know, they don't like donald trump's ban the muslims, things like that. we're watching this closely. at the moment it looks extraordinarily peaceful. how about that? two hours ago demonstrators bee this march on streets of cleveland. again peace if you recall. more peaceful than one yesterday, where anarchists of revolutionary economist party. those burned multiple flags at fourth and prospect. that resulted in pushing and shoving among rival protest groups.
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at least 17 were arrested. two officers reportedly suffered minor injuries. that was the crowd yesterday. we've been following this very, very closely. again, police, unafraid to step right into it. neither is jeff flock. he gets right into it too. he is standing by on streets of cleveland right now. reporter: happy to report, a kinder, gentler protest than what you showed yesterday with that other crazy group we had on who thinks democrats going to hell along with catholics. they are protesting at a homemade ice cream store across from the cuyahoga river. look at picture of march over the river. not a huge protest. this was very different group. the doctors, lawyers, nurses, professional people. a lot say they never came out for a protest but they feel like the message donald trump is sending something they need to make their voice heard against. so, as i said, you know, if
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you're looking for a normal protest, that is what we saw today. the same group, hanging out here, getting some ice cream while they get ready for the big rally and location that you just showed pictures from. that is downtown square. that is being billed as the biggest protest against donald trump of the convention. one protester told me, if you're going to get arrested that is the time you want to do it, lay it all on line tonight. i don't know. my sense we're not going to see chaos. this has been a lot of preparation for not a lot of much, which is good, i think. liz: have you seen any "pokemon go" characters among protesters? i'm not kidding. they're everywhere now. reporter: i sort of expected to see that but i didn't see that. as i said, they're doctors, lawyers, maybe they have better things to do. liz: imagine that. jeff flock, thank you very much. the closing bell is ringing at exactly 30 minutes. down 99 points for the dow at 18,049.
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back to pokemon, we've been doing it every day, giving you updates, the craze of this game showing no signs of letting up. needham, the brokerage, saying apple could make as much as $3 billion, apple, not nintendo, 3 billion in additional revenue over next two years from "pokemon go" app store fees. when you download the app, apple get as percentage. legendary entertainment which is china's giant media company, wand today, their movie arm, announced it has signed on to make a live action film based on the pokemon character. called, "detective pikachu." production starts next year. investors take more profits today. they did so yesterday. nintendo has been up 90% since "pokemon go" launched two weeks ago. right now it is down 4 1/2%. the spotlight stolen for a moment from donald trump's
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running mate as senator ted cruz decided not to endorse the gop nominee. in a long speech, he kept rambling, people thought might he? our next guest was a cruz supporter. governor pete ricketts is following cruz's lead and. more on the way with governor pete ricketts.
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reporter: i'm lori rothman on the floor of the new york stock exchange with the tech minute. tesla unveiling master plan for the company. the company known for all electric sedans hoping to expand into small suvs and even heavy-duty semis and buses. incorporate what he calls fleet learning. musk says self-driving capability 10 times safer than manuel.
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the plan calls for tesla owners to eventually rent out their vehicle to other drivers for short periods of time. the new plan does not stop there. musk also focusing on the consumer solar business with ited planned acquisition of solarcity. he outlines a vision for solar roofs with integrated battery storage. teleshares down about 3.6% on unveiling of the master plan. more on the closing bell is straight ahead. ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models.
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liz: here we are, the day after senator ted cruz of texas was booed by the convention crowd with cries of get over it, ted, ringing throughout cleveland. what we're going to do right now, we'll reach back to somewhat similar situation that developed during the primary with this republican, nebraska governor pete ricketts. his parents ameritrade founders and billionaire anti-trump business couple jo and marlene
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ricketts donated 4 million to a anti-trump super-pac but governor ricketts told me exclusive three months ago no matter what he would get behind whoever the nominee is to take the white house even though donald trump had insulted his parent just as trump had insulted ted cruz's wife and father. governor pete ricketts joined me live once again. governor, just to be sure, trump issued veiled threats against your folks back in february, will you vote for donald trump for president? >> yes, i will be voting for donald trump. i went through a very contested republican primary myself. the day after that primary, everyone of my opponents was at unity rally to support me. that is what we have to do as republicans come together to support our nominee. liz: well, i agree. with the feeling that you have, do you understand why ted cruz did what he did last night? because he is getting really criticized for that.
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>> certainly i have nothing but admiration for senator cruz. i think he is a wonderful part of our party. i go back to my experience and when you think about your choice, you have a choice between donald trump and mike pence or hillary clinton. and the choice couldn't be more clear who will take our country in the right direction and that is donald trump. liz: all right. i want to talk about a couple of things here. governor john kasich is also getting criticized with more people saying get over it. you're a governor yourself. if this situation were similar and you really disagreed with the principles of the front-runner, john kasich disagrees with principles of donald trump, would you be behaving the same way? what do you have to say about that? have you talked to governor kasich? >> i actually haven't talked with governor kasich. i can certainly understand where he is coming from. when i went through my primary, it was a very tough primary. we had president obama come to nebraska. it was challenge for me to
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rearrange my schedule but greeted him at airport. i certainly disagree with many of his policies. as republicans we have to come together. primary is over. we have to get behind our nominee. liz: one of the policies, i wonder if you disagree with donald trump might be trade. china is nebraska's top import partner. donald trump called for, as you know, somewhat onerous taxes or at least tariffs on china, anything coming in because he said we need fairer trade. if you had his ear, what would you say to him about that? because you guys have a good relationship with the chinese. >> well, as a matter of fact, more canada, mexico are our top trade partners but china is number five and growing fast. liz: right. >> i had this conversation with donald trump, when he was in omaha a couple months ago right after he became the presumptive nominee, and said, hey i would like to talk to you about trade. he was very open to the conversations. i talked about how important trade was to nebraska, creating job opportunities and how we
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need to knock down the tariffs. liz: how did that go over? >> he was very open to the conversations. he was very open to the conversations. in fact comments we had prior to him speaking to the media and rally, he actually incorporated some of those in his remarks. >> you know, you host the nation's largest shareholder meeting. that would be berkshire hathaway based in omaha, nebraska, warren buffett's company. business really matters. you have a businessman at the top of the ticket. what would you love to hear from him tonight as donald trump gets on that stage? >> well, i would love to hear him talk about how he will bring his private sector experience to changing how things in washington are run. how he will hold people accountable to get better results. of course if you combine that with mike pence who is the best choice he could have made for vice president, mike brings that perspective of not only being in washington, d.c. but being governor in a state, i might be biased, that will allow him to see how the washington policies really play out in the states where they impact people's lives.
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we have a great ticket. tonight it is up to donald trump to lay it out for the american people. liz: you as a republican managed to work well with democrats in nebraska. do you foresee that? do you hope to see that crossing of the aisles, alaron ron, tip o'neill in this administration if it were to come to pass, that donald trump becomes president? >> well i think that is one of the things that really highlights successful executives is that after the campaigns are offer you have to go back to establish relationships, start working with people on both sides of the aisle. certainly one of the things i would expect donald trump to do as a business person not be called up in all the politics and understand who he needs to work with to make things happen. liz: thanks for joining us. always a pleasure to have you. >> thanks, liz. great to be on. liz: pete ricketts of nebraska is going for trump. he will vote for him. keep it here for the convention coverage. maria kicking it off at 6:00 p.m. eastern.
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lou, he has it, 7:00 p.m. followed by "cavuto: coast to coast". trish begins at 9:00 p.m. eastern. when donald trump is scheduled to make the big acceptance speech. fox business is the place to be.
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liz: we've got some breaking news out of cleveland. it is funny, we've been talking about fund raising with charlie gasparino but on a slightly different, i guess story track here, charlie gasparino is about to break some news. charlie. >> it is interesting. you saw ted cruz last night give that non-endorsement to donald trump. donald trump from what i understand was at a fund-raising meeting just now, luncheon fund-raising meeting with heavy hitters. what he basically told them, listen, i wanted ted cruz off the stage.
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the reason why i didn't take him off the stage because he was convinced by reince priebus, head of rnc not to do it. it would make a bad situation worse. but, that he clearly, it is kind of an interesting little back and forth that went on. he was talking about party unity. didn't you hear all the boos against ted cruz? this is pretty unified party. you know, it will tell you something about the new donald trump i think. that is the message here. that he is willing to listen to people. he clearly wanted cruz off the stage. he did not want him to give that speech but reince priebus basically said, listen, don't make a bad situation worse. let him do his thing and we'll deal with it. liz: they saw that speech. >> yeah. he wanted him off. he basically told people he would like to have him off. he let him speak. he listened to reince priebus. this is a good thing for, you know, if you looking at a party wondering whether donald trump
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is going to start acting in a different way -- liz: do you think, charlie, do you think, do you think they engineered donald trump coming into the crowd at the tail end of cruz's speech just to grab attention maybe? >> oh, yeah. by the way, who wouldn't. the guy is slamming him. why not deflate his balloon a little bit. they're trying to move beyond last night. interesting scenario i just mapped out to you. they're trying to move on. part of moving on to raise money. we should tell you sheldon adelson, billionaire casino magnate is in town. he spoke with gop representatives last night at quicken arena. trump was in the attendance for some of the meetings he was having. other people in attendance i hear was governor nikki haley of south carolina, governor scott walker of wisconsin, senator jeff sessions. so it was kind of an interesting eclectic meeting adelson was having. why is adelson important?
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he can raise a lot of money. he was there pressing the flesh and trying to get some party unity. those people i named like nikki haley, they want to tap into his wealth as well. the other sort of interesting gossip going on here, ted cruz advisors, i don't know if this matters, they're actually saying, ted cruz advisors, that an endorsement of donald trump now, in the future is not, is not out of the question. they're actually telling other people, political operatives here, he wouldn't endorse him last night but he might endorse him in the future if he becomes more conservative, does some things cruz laid out last night. i don't know if donald wants his endorsement after last night. but that is some of the scuttlebutt, donald trump clearly in the luncheon meeting saying he didn't want him on. reince priebus convinced him to keep him there and he deferred to reince. there you go. liz: charlie, thank you very much. >> why did you say, oh, my god.
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liz: when you say, guy got this scoop, a little bit of ajita comes through me. >> it is agita. liz: it is reince, not reince. >> is it? it is reince, i'm sorry. liz: mic drop. charlie, thank you very much. charlie, the one, the only, gasparino. guess what? we're down 87 points not 124 as we were at top of the show. dow's record is in jeopardy this hour. you have to see what happens. fund manager anthony scaramucci standing by live in cleveland what this speed bump should mean to your money, tiny little bump if we're down one day out of nine and where he is putting his firm $12 billion to work. don't go away. we're live in cleveland in an in.
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liz: some 30, companies are reporting earnings after the closing bell. moments from now. the bears are pushing all the buttons. they're in charge. all three major indices are in the red. where can investors find opportunity? let's go to new york stock exchange. joe, you're head strategist from the cme. first day of nine for the dow where we're not seeing upside moves. >> right now i'm not surprised. when we hit the all-time highs today around 2170 on s&ps, i was getting a little more afraid because i don't see a catalyst and i don't see participants running into move the market. the pricing right now is just a little rich. with the ecb still not, we thought maybe they would come in and ease. there was uncertainty about that they haven't. earnings have been good but this pullback today and afternoon, this is refreshing, i like seeing this. this is healthy coming into the numbers we're seeing out coming over next couple moves. liz: refreshing move on hot
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summer day. ecb didn't move on interest rates. karrada of bank of japan in essence saying keep your helicopters grounded. we don't need you sprinkling money around the world. not necessary as my mother would say, not necessary. or is it just bulls are sitting on the sideline catching their breath? >> i think a lost bulls, liz, have a lot of cash. me personally what i'm doing with my clients, i have almost my clients are 60% in cash right now. i'm using derivative strategies so i have notional exposure to the market. i'm telling you there is a lot of cash waiting to get into the market. i think we need a healthy pullback. we'll watch the earnings closely. liz: this is a smart man. he is right. thank you, joe. guess what? so much cash, merrill lynch came out with a survey showing fund managers are holding the biggest amount of cash since 2001 waiting to get out there.
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let me get right now to anthony scaramucci. he is in cleveland in front of our cameras. you have 12 billion where you work at skybridge. what are you dealing with your pile of cash or what will you do with it once you put it to work? >> it is super important that is very bullish sign. it sounds like a counterindicator but it is super bullish. as people are defensive, and good news breaks, people put more money in the market. if you get weak market, people deploy with asset allocation, liz. that is very bullish sign. i think the market is rallying has to do with monetary policy. the fact all of these banks, bank of england, japan, et cetera, u.s., have not moved is a good sign. it means there is some ammo in the tank if we get bad news into the third and fourth quarter, they have room to go down on interest rates or to start quantitative easing.
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so for us, we're in structured credit. we are the slight bias long in the u.s. markets. remember we're a hedge fund. so we like to keep things even and keep them hedged but i think markets are going to trade higher into the fall. and listen, all of our guests on "wall street week" have said this, so i will repeat this on your show. david: it is not going to matter super much who the next president is for the market if the fundamentals are intact and you have the right positive vibe from european and federal reserve, european central bank and the federal reserve. liz: let me give you a few near term fundamentals. we got first-time jobless claims today, once again at 43-year lows and 3 month lows depending which metric. mortgage rates are so low, that existing mortgage sales were boosted to nine-year highs. donald trump takes the stage tonight. he has to walk a fine line saying things aren't that great but we see real tiffly decent numbers in the short term.
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>> listen, i things are good, just how deep is the good? is it 10% of the population and top 10%? is it top 15% of the population? if you dig a little bit deeper, liz, you see there is a 9% drop in disposable income over the last 10 years. you see that there is a lot of governmental dependency. 4million people are on some -- 47 million people on some form of governmental dependency. 97 million americans are out of the labor market. no question, depending what side of the fence you're living on, it is very good or feeling some anxiety. mr. trump has to straddle did the line. we had lunch with him today. myself and small intimate group of 600 people. it was fun to be with him. he talked a little bit about the speech speech. my guess he will talk about the things we need to do to fortify america and restart the clock on
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those types of jobs. >> liz: all right. the clock is about to hit 4 p.m. eastern. you know what that is, mooch. >> yes. [closing bell rings. liz: anthony scaramucci, "wall street week." string of wins has been? ed. sorry. seven record closes of the dow. there is the closing bell. david and melissa pick it up for "after the bell." david: seemed too good to last. the dow snapping a nine-day winning week. starbucks, chipolte, they're coming out any moment. we'll cover it all. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we'll cover you on all big market movers. here what else is coming up this hour. gearing up for the main event in a few short hours, donald trump will take the stage to officially accept his party's nomination.


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