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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  December 15, 2016 3:00pm-4:01pm EST

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the conversation does not end here, it continues on social media. head over to my facebook show page. tell me what you thought of today's show, also go to my twitter account -- i want to go down to liz claman at the nyse, it's another day, get a shot at 20 k. it's going to happen soon, i think, liz? liz: i don't know, i'm not sure. they couldn't wait, could they? i don't know if you can see this, this is dow almost 20,000. trish, we came within 41 points of the magic number, right now, we're not there, at 19,861, still up 63 points but maybe it's the nasdaq jumping up and down saying look at me, trying to get attention, it is within just points of an all-time record close. the number to watch for the nasdaq, 5,463. you can see we're almost there. that's the good news for the bulls.
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the bad news for yahoo! is that the $4.8 billion deal between yahoo! and verizon may be on life support at this hour. bloomberg is reporting that verizon is trying to negotiate a price cut or even an outright exit from the deal. maybe they want out and yahoo! taking the potential rejection very badly. it is down more than 5% after it announced it had the biggest hack in internet history. more than one billion users compromised. we have a fox business exclusive with co-founder of aol, steve case, we're going to ask him if he were the ceo of verizon, now knowing what he knows about all the yahoo! breaches, would he get out with his jacket still on? and is part of this verizon's fault? steve case in a fox business exclusive. plus, mystery in the motor city at this hour. general motors hastily calls a news conference but the auto giant won't say what it's
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about. will ceo and chairman mary barra say her company is officially at war with china or reveal technology that could disrupt the entire industry? jeff flock is there, he's waiting, live in detroit. we'll show you. caravan cam is fired up as president-elect donald trump is expected to leave for the next leg of his thank you tour. next stop, hershey, pennsylvania. rally comes as the transition team closes in on last two cabinet picks. connell mcshane live at trump tower. with less than an hour to the closing bell just 58 minutes away. we're live at the new york stock exchange, so let's start the "countdown." . liz: so close, but yet so far, i told you guys that the nyse traders said they were not going to put out t dow 20,000
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hats until they were within 20 points. they got so eager, they made the dow almost 20,000. making the run for the border, dow industrials got within spitting distance of dow 20,000. speaking of running for the border, president-elect donald trump about to make the run for the border of new jersey into pennsylvania. to thank the states for giving a hard-fought victory on election night. we've got our cameras there. we're watching trump tower, the minute he exits, we'll take it. back to the floor of the new york stock exchange where i am live. the dow made 16 straight record closes, the blue chip index will finish in record territory. the number to watch, 19,911. we are not there. 19,873. up 80 points, the russell is helping the situation. when you have the little guys coming up from the bottom that helps russell 2000, up about 10 points. please, i need to look at the nasdaq.
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what is powering this index within just a couple points of new lifetime close? never seen before levels. technology is the shiny star on this days, i don't want to ignore that. within ten point of record close, look at xilinx, it is the best performer here, a programmable chipmaker, charging higher, had been up 8%. i thk ght now it's up about 6% at the moment after it got an upgrade from morgan stanley and hit a 16-year high. what did morgan like so much about it? feels they're going to be a huge player in artificial intelligence. artificial intelligence, ai is big in the tech world, the machine thinking. xilinx is the one to own. i.t. pushing the s&p 500 higher. corvo does radio frequency
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solutions for mobile and aerospace, doing beautifully. skyward solutions gaming electronic company electronic arts gaining. pier 1 surging more than 30% right now? what an incredible run-up. the home decor and furniture importer raising guidance. wicker chairs will do that to you. let's flip to what's not doing so well. gold. my goodness. when i look at the big board, gold is down $31 this month. that's not the low of the session, that's the lowest level in ten months and, of course, you know, you would expect gold miners are having a very ugly day. check out the few names we see, harmony gold, ashanti, all of them deeply in the red, certainly not shining today. now we have this breaking news coming in the last couple of minutes, after revealing last
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night a new epic breach involving more than one billion users, yahoo! is staring down a terrifying prospect, and that is that the new york attorney general eric schneiderman wants to know what happened and wants to know how this could have happened? one billion people, there's a good bet if you have a yahoo! account, forget it. shares are tanking on the news right now. we have reuters reporting that eric schneiderman has, quote, been in touch with yahoo! about the breach. trust us, you don't want to be in touch with eric schneiderman. the new york attorney general, when he picks up the phone and calls, there's a problem. the largest report data theft in the history of the internet and turns out in august of 2013, just coming to light now. hackers stole names, telephone numbers, dates of birth, passwords, you name it from more than a billion people out there. this attack is separate from the one you just recently heard
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about from 2014 where yahoo! had 500 million customers breached and people were saying, whoa, 500 million? add to that a billion. we want to bring in aol co-founder steve case. not only is this a personal user issue, it's a business issue. yahoo! may be left at altar by verizon who proposed to buy the business for $4.8 billion in july. is the deal off? >> hard to say if the deal is off. verizon is looking at the information and trying to figure out a way to renegotiate the price down lower. partly the size of this breach, the billion users and the timing, the fact that happened three years ago, verizon will be, maybe the attorney general as well. what did they know and when did they know it? that will be the focus in the coming days and weeks. liz: if you were running verizon, steve, enough, i got to get out of here with the shirt off my back? >> i'm not sure. i think there are strategic
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reasons they decided to buy yahoo! and complement the other things they now own, strategically they like to own, it they might want to pay a lower price. liz: yeah. >> they need to understand the ramifications including legal risks associated with it. my guess is they still would like to go forward but they're trying to digest the new information and reprice the deal or potentially walk away from the deal. we'll see. liz: i would say a discount if nothing else. let's educate our viewers, a breakup fee. piecing through this, 360-page or more i think, report that yahoo! put out where they said, look, we'll pay verizon 145 million if we walk away from the deal. interestingly it says if yahoo! doesn't live up to what verizon thought it would, yahoo! owes verizon 15 million, certainly not as much, but man, when you look at this, you see the five top executives including
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marissa mayer ld have gotten a golden parachute. 44 million to go to marissa mayer. this looks like it needs scaling down, or at least a hair cut. >> the numbers are part of it, something in the big acquisitions, transactions and materials change clause whether could this make it easier for verizon to walk away. i don't know what they're thinking. my guess is they're using this, trying to digest it to understand the implication in terms of consumers and in terms of the legal risk. if i had to bet, it will be going forward as a lower valuation. liz: is our information safe, steve? this is a rhetorical question. if somebody watching right now has a yahoo! account, is it safe from this day forward? >> i think it is. one of the things i talk about
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in my book is we have a world where we have connected devices, the internet is not the first wave or smartphone the second wave, the issues around privacy, encryption, safety, the risks of hacking, the risks of cyberterrorism are going to go up, which is why it's so important the innovators to strike the right balance so we get the benefits of the new technologies and new devices but also can hedge against some of the risks. liz: well, let me get to president-elect donald trump, yesterday he held a meeting with big tech leaders, and he uttered those words that ronald reagan said you should be careful of. i'm a government and i'm here to help, not in so many words but said we're going to help you guys, want to make things easier, i'm not sure for a lot of the companies who do business overseas if he freezes up trade deals, how do you see it to the technology leaders in silicon valley.
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>> i credit president-elect trump for inviting them, give credit for going. hold out a hand, build a bridge, there's a lot of things said during the campaign on all sides and he's trying to say, i'm the president-elect, i'm going to be the president, i want to continue to drive innovation. one of the things that was great is drive innovation across the country. too much focus in silicon valley. we need to focus on entrepreneurs and the rise of the cities and focus on investing in them and creating jobs in those places which will help address part of the concern in the election. lot of people feel left out by globalization and digitization, we need to invest in everybody everywhere, not just people in silicon valley or new york city or boston. liz: great to see you, i wish you the happiest of holidays. >> and you, great to be with you. liz: any time. steve case, aol co-founder and the founder of revolution. he's the chairman. let's looked at markets,
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varney got closer. i was on with him in the 11:00 hour. he was way closer. we're at 19,861. let's pick apart what's driving us here and pulling back. one sector that's benefitted from the federal reserve's decision to raise rates by a quarter point yesterday is the financial sector. the banks. not the usual names, they're already doing well. lori rothman went to the post of bank of america to look at that one and lesser known names bringing up the rear and the front, lori? >> reporter: yes, liz, i'm over here chilling, they're asking about you, big buzz that you've been with us all week. let's looked at bank names. of course, bank of america is one of the leaders and can you see it trait trading right over my head, up 2.7%. you've got names like sink ronnie, they will all benefit on rising interest rates, and
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obviously, as well, you've got many of the insurance companies that benefit from higher interest rates, they offset a lot of the property casualty losses by making investments of their own. allstate is up about 1.5% along with prudential, unum and lincoln national. back to you. liz: you know what? forgive me, i can't remember, we had a stock picker on six months ago saying zion's bancorp, look at it, doing nicely. appreciate it. 47 minutes away from the all-important closing bell. you're in the right place. beside financials look at a name that's helping to lead the dow tomorrow. is chemical giant du pont, after a 50 million-dollar settlement over the pollution of the shenandoah river system, that stock is on the move to the upside. and the president-elect set to
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descend the golden elevators, he is going to board trump one for the thank you tour rally. yes, in hershey, pennsylvania this time. we've got eagle eye producers and cameramen on high alert inside the trump tower to catch any movement of donald trump, see what he's doing, see what he says, if anything. and general motors, this is imminent. they call a hastily organized news conference holding cards very close to the vest. won't say what it is. we'll find out in just a minute. mary barra says today's news conference might be a nice revelation, she's going to be asked a very tough question, are we on the verge of a trade war with china sparked by something china is accusing general motors of? jeff flock live in detroit, jeff? >> reporter: liz, gm mum about specifically what it is. i'm going to give you the first hint on fox business, that is a chevy volt ed and on the roof, self-driving technology,
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. liz: welcome back to the floor of the new york stock exchange. i wanted to move over to post five, this is where general motors is. if you come up here, gm is
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moving higher by about three quarters of a percent in just 14 minutes. the company chair and ceo mary barra will be holding a press conference, and what that news conference will be about is anybody's guess right now. now, the media wants to ask her certainly this, and it involves china. we had a chinese official who said that china is about to slap sanctions, some kind of penalty on an unnamed u.s. automaker for monopolistic behavior. yes, they say they're price fixing, forcing distributors t hold prices back to 2014. we don't know if it's true. others are suggesting, including jeff flock, that this may be something way more exciting, that is perhaps a new vehicle, but not just any vehicle, jeff flock, you're right there. how many more minutes until she comes out and what do you see? >> reporter: ten minutes, she'll be right here at the podium.
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in that time, behind it, you see the vehicle that is clearly the center of attention here, you're right, she's going to get questions on china, no question about it. we believe this will be an announcement, rare for mary barra to talk about something, have a press conference. this is a chevy you're seeing on t here on fox business with self-driving technology on the roof. we believe based on the fact that governor rick scott last week in michigan signed laws that would enable companies to begin testing autonomous vehicles on the road in michigan. we believe that's what at least part of what she's going to say that gm will begin to put driverless cars out on the road and test them in the public. that would be huge here, obviously it takes place in other places like california, but in michigan, that would be big stuff. she'll be here in just a moment, and again, a scrum afterwards, we're going to ask her about china as well. you know, liz, china is the
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place where gm sells more car than the u.s. it is huge if that were to be gm, that would be huge. liz: it's almost like retaliation, and we knew this might happen, that donald trump takes a congratulatory call from taiwan, and china doesn't like it because china is at odds with taiwan, and you know what? so be it. we shall see if this is retaliation, she'll be asked about it. >> reporter: he's asked mary to be on his economic advisory council. with one hand giveth, one hand take taketh away. we shall see. liz: come on, taiwan is a democracy, right? jeff, thank you, interrupt us if something happens. we're going to take that shot. general motors, 8 minutes away from that, as we look for the closing bell, 39 minutes away. can we move over to post 8. disney moving higher half a percent.
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"star wars" fans feeling the force and, of course, the stock movement lining up outside theaters across the nation for the midnight debut of that first stand alone movie in the franchise, "rogue one: a star wars story". it soaps in about 4100 north american theaters tonight and expected to pull in between 120 and $150 million opening weekend. up next, charlie gasparino is going to zero in on the true meaning of the so-called trump bump because, you know what? since the day after election day, these markets have been on a tear. charlie breaks it. next, we're live on the floor of the new york stock exchange.
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♪ the. liz: 34 minutes before the closing bell rings. i want to show you intraday chart, what happened? the dow had been up 159 points. yeah, during stuart varney's hour, where he said i want it to
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hit dow 20,000 in my hour, not lizs. he got closer than i did. down here on floor of new york stock exchange. you have wall street traders preparing for this moment. they have also been looking at the long-term effect, this is important, on the bond market if the dow reaches this historic milestone. trust us, folks. the bond market is the ocean on which the boat of the stock market floats. right, charlie gasparino? did i get that right? >> yeah. i've been talking to a lot of hedge fund traders and investors. what they're looking at, liz, the 10-year bond in particular. they're lookg at it as it pierces or gets close to a 3% yield on the 10-year. here is the interesting thing. fed doesn't control long-term rates, just controls short-term rates as you know. janet yellen raised short-term rates marginally 25 basis points
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t has some impact on various lending rates and bond market. the bond market reacted with yields going higher, prices going lower because they're pricing in she is raising rates. so there could be inflation and that has to be priced throughout the yield curve. here is what is going on though, the real determinant of bond yields is not the fed but mainly traders. when traders get scared about inflation they start selling bonds. when bond prices go down, yields go up. when i talk to people who are sophisticated investors what could snuff out this great rally the trump rally, post-election, the one thing could snuff it out if the market gets the sense he will create massive inflation, doing too much, too many tax cuts and too much infrastructure spending. now, right now, we don't get the sense that they're really freaking out about that. rates are going up, yields are
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going up so there is some fear. watch the 10-year bond. if you start seeing that spike, close to 3%, what i'm hearing that is the one determinant that traders, that sophisticated stock market gurus say could snuff out a stock market rally because, basically it is, with the market is saying, is, you have got some inflation coming and deficits. liz: charlie? >> yes, liz? liz: i could be paranoid every fox business monitor gone black. miraculously came back. everybody else's monitors worked but ours when you were talking. >> of course, they don't want to hear the bad news. here is a good thing for the markets, as we were first to report a little earlier today, larry kudlow is being considered now, finally, a cabinet-level job inside the trump administration. from what we understand, council of economic advisors.
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i can't wait to see our millionaire usher, anthony scaramucci, bring kudlow into trump tower. we should have, we should have cameras on to see anthony scaramucci bringing in larry kudlow because that would be of all the guys that anthony brought in, this would be one of the guys to celebrate if you believe in free market economics which i do, and i know you do. liz: yeah, yeah. >> we'll see our millionaire usher, ushering in a real economic guru, larry kudlow. liz: when you talk to traders, i was getting emails from scott here on the new york stock exchange, aside from the fact that we have real support from stocks across the board, it is sort of that perception in the end that it's a trump economy perhaps that could really be friendly to all of this but you and i talked about the trade element. if the trade line is free
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between the united states and other countries, look out below!, there could be real issues with solid companies here that need that trade. >> you're absolutely right. there is a lot of moving parts but his broad economic message is good. cut regulation, cut taxes but where he might run into problem trade war is bad for the markets generally and just watch the notion of inflation and deficits. if the market gets the sense that donald trump is just going to spend like crazy on infrastructure, cut all the tax, do all this crazy stuff, he will face -- bond prices will go down, yields go up, it will snuff out a rally and will hurt the economy. liz: how about this? look at detroit and you can stay with me, charlie. we'll take a shot what is going on at general motors headquarters. let's listen in to mary barra, guess what, not china but a new vehicle. >> what powers vehicles and the
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way we get from point a to b. today the convergence of connectivity, electrification, autonomous driving and sharing mobility gives us opportunity and the responsibility to create a new model of personal transportation that really changes the way society thinks about the the automobile. that is why following governor snyder's signing last week of save act legislation to support autonomous vehicle testing and deployment in michigan we are very pleased today to make two announcements regarding gm's work in autonomous vehicles. first, gm will immediately begin autonomous vehicle testing on public roads in michigan. in june, gm began autonomous chevrolet bolt evs on public roads in san francisco and shortly followed in scottsdale, arizona. today we have more than 40 vehicles testing in these two cities. we are also currently testing
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autonomous volt evs in michigan at our technical center this warren. following last week's signing of the save act, we'll expand our ev activities on public roads outside of our warren campus. within several months we'll expand testing to metro detroit. going forward metro detroit will be one of the primary areas gm will do real world testing of autonomous vehicles. this is main location for cold weather. i think we're demonstrating that today, as well as winter driving conditions. by adding michigan to our public testing program, we're insuring that our avs can operate safely across a full range of road, weather and climate conditions. we are also very pleased today to announce gm will produce the next generation of autonomous test vehicles -- liz: for autonomous vehicles, that means jobs right here in america. not doing it in korea.
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they're not doing it anywhere else. they're doing it in o'ryan township just outside of detroit i think in michigan. she will be talking to the press later. jeff flock is right there. they will ask her whether they indeed are the car company in question that china says they're going to hit with sanctions for price fixing. the second we get that, we'll give it to you. meantime gm stock moving higher by a percent. dow joins industrials at 19,858. please don't leave me. we're coming back live from the floor of the new york stock exchange. ♪ you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your who car back. i guess they don't want you driving around on three wheels. smart. with liberty mutual new car replacement™,
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>> i'm ashley webster with today's fox business tech minute. california regulators telling uber to put the brakes on self-driving cars in san francisco. after launching service dash-cam footage showed a self-driving volvoses ripping through a red
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light. they said it down need one because a human driving permit behind the wheel. dropping a fire tv streaming device in bag of popcorn to a house in the english country side. it took 13 minutes from order to delivery. amazon testing in the uk because u.s. laws are just too strict. finally anyone tend bringing mario to iphone and ipad today. free to download but will cost $9.95 to unlock the full payment. we're on dow 20,000 watch when "countdown" comes right back. ♪ [vo] is it a force of nature?
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liz: we have this major breaking news right now. a charleston, south carolina, jury convicted dylann roof in the racially motivated slays of nine black church members in
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june of 2015 while they were at a south carolina bible study. after two hours of deliberation, the jury reached this verdict, guilty on 21 different counts. he is 22 years old. the trial will be reconvened next month to decide whether he should get the death penalty or be sentenced to life in prison. dylann roof has been convicted. very sad news that just hit the tape right now. the associated press is reporting that turner sports has just released a statement that nba broadcaster, much loved craig sager has died. he was well-known for his very colorful jackets of the had lukemia. he was just 65 years old. and it is very sad. craig sager, legendary sideline reporter for the nba gone. we need to get back to detroit at this very moment, mary barra, chairman and ceo of general motors, jeff flock is there there asking about china and possible sanctions against gm?
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>> i don't think anyone will benefit from further speculating on that. i don't really have anything to comment. >> you're empty elect trump's strategic and policy forum. have you talked with him? what are your conversations with president-elect trump been like since he has been elected? >> i haven't had the opportunity to talk to him yet. i'm pleased to have a seat at table to talk about important issues facing our industry. there are a lot of things we can do constructively to work together with government and business to advance the country. that is high on my list of priorities. >> how do you feel abo his habit of sending out tweets, about a particular company, targeting a company? as a ceo, you're known to be one who is very measured. you don't like the drama, yet you have a president here who doesn't mind saying you know what, i don't like this company, how do you feel about that? >> i respect his decision how he wants to communicate. there is a lot of new tools in communication these days and i think working constructively to resolve issues to raise issues,
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seize opportunities i'm fine with working with the president-elect to do that. >> are you worried -- >> one china policy could have impact on your -- >> sorry. >> that would be last question. >> let somebody else. >> are you concerned one-china departure from the one china policy president-elect talked about could have business on impact in china? you have a huge business in china? >> i'm not going to speculate. i think there is lot still going to unfold. we have very significant business in china. we have very significant business here that creates a lot of jobs. >> automated vehicles, you talked about wanting to be the first to mass market them. when do you think that could happen? >> we're not putting a date on it. by our announcement we're working extremely aggressive. we're gated by safety. we want to have safe and reliable vehicles on the road. we're working aggressively to do that. what we announced today is stepping forward. >> -- autonomous vehicles.
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>> what will set gm apart from other autonomous vehicles like tesla. >> we have 100 years of understanding vehicles, putting them on the road, making sure we have safe, high quality vehicle, also we have strong brands that create promise to the customer. we have experience with volt ev technology, 230-mile range. we have connectivity, 20 years of history. we'll have 12 million vehicles on the road by end of the year there. when you talk autonomous, electrification, connectivity, we'll have special offering to the consumer. >> are you worried about nasa being reworked. >> i'm sorry? again -- liz: crowd at headquarters of general motors. jeff i know she wants to focus on the autonomous vehicle. the fact at that, great news they will open a plant in o'ryan township in michigan. she brushed off comment about china. this could be real issue.
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we don't know if it is general motors that will have sanctions handed down, right, jeff flock? can you hear me? >> working seamlessly with some of the great people standing behind me with pam fletcher an doug. it is seamless team. in today's work world. liz: he is still in there. before he can come out, we keep the camera right there, i want to just explain what is going on here. a china state planning official warned, here comes a penalty. here comes a penalty against an unnamed u.s. auto manufacturer. the accusation is that, you know, insert company here, we know gm does business there, we know ford does business there, distributors fixing prices starting in 2014, impeding competition. jeff, she wouldn't comment. we have on the phone, gordon chang, author of china, the coming collapse of china.
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but first to you, jeff. she punted on that one. reporter: she sure did. was not taking bait at all. mary barra is pretty good doing that sort of thing and steering clear of controversy. i thought it was interesting, she agreed to be on president-elect trump's economic council. but at this point that was a paper transaction. she has not up this point even talked to him. we'll see where this goes. liz: gordon, you're on the phone. what has your digging turned up? is it ford? ford has operations in china. general motors does business there. they have buick plant for many, many years with a chinese partner. now suddenly post-phone call where donald trump took congratulatory call with the stated enemy of china, the country of taiwan, suddenly they start crying price fixing. against at least one of these companies. again we don't know which ones. >> we don't know which one.
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everyone's been saying either gm or ford. clearly what china is trying to do is inestimate date trump -- intimidate trump largely because of his comments about taiwan. we had 430 billion-dollar trade surplus against the u.s., with a trade war they certainly want, they would be in a very difficult position, trade deficit countries have nothing to lose and we're the trade deficit country. liz: so interesting that the chinese government, you know, here's why i really hope donald trump realizes you don't want to attack your free media. free press is so extraordinarily important. chinese government, used china daily news, their newspaper to get out this message. here's what they put up. for the american economy to be great again, clearly a snipe at donald trump, the u.s. needs to cement economic relations with china, not destroy them. read between the lines there,
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gordon. >> well, what they're saying is that they're going to retaliate against american companies and you know, we have had two notices last two days about antitrust investigation against a u.s. company. but you know, on the other hand, the chinese have got to remember if they actually do retaliate against a u.s. company in such a clear fashion, they are undermining their own position in global supply chains by making themselves appear unreliable, by elevating geopolitical concerns over economic ones. they threatened economic sanctions against u.s. companies in 2010 because of taiwan. they didn't carry through. liz: they didn't go through with it. right. interesting. they do walk up the to inare of the abyss and kind of pull back a little bit but this time, you've got to figure one of those two names, general motors or ford. we still do not know. mary barra not taking the bait, jeff flock, instead she had news
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i find extraordinarily significant. general motors will open a plant to autonomous vehicle production i believe but in michigan. talk about that. reporter: yeah, the o'ryan township plant where they make all the autonomous vehicles, not unlike one you see there behind me that they will test on michigan roads. this is huge, testing in california an arizona is one thing but of course this is where it all happens here in detroit for both gm and ford. having ability to test them both, for both to test on roads here, only figures to accelerate the development of these vehicles and that is what mary barra says she wants to achieve. liz: jeff flock, thanks to you, gordon chang, for jumping on the horn with us. we appreciate your perspective. jeff flock always diving into the big scrum we call it television news. general motors getting a slight ump on the news. any minute now, go back to midtown manhattan, president-elect trump is
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expected to depart trump tower to head to the next stop on the thank you tour. this time he is heading to hershey, pennsylvania. his team is trying in final couple hours to fill two seat left for his cabinet. they are, secretary of the veterans affairs and the agriculture secretary. connell mcshane braving the bitter blast of arctic chill outside of trump tower. i do not envy you, my friend. reporter: little bit on chilly side here in new york, liz but we're working our way through it. as you say the president-elect will be leaving new york fairly soon. today is interesting day. today is the supposed to be the day we would be inside and little warmer situation asking mr. trump some questions. he was supposed to hold knew conference on business transition an transfer his business empire if you will, his old etf children, his two sons, done, jr. an eric. that was postponed until january. i talked to transition officials about it today.
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what we might know in january that we don't know now, they basically said they need more time. there are internal issues to work out with the transition. they want to take time to get it right. so that news conference did not happen, in terms of positions haven't been filled, you mentioned veterans affairs, a lot of back and forth who will get the position. pete hegseth was here for another meeting. we're told by a transition official he was not offered the job at that meeting. fox news contributor but former ceo of veterans group called concerned veterans of america. the fact he doesn't get the offer doesn't mean he won't get the job, may mean some others like senator scott brown who was on earlier with stuart varney today and said this are still in the running. >> the vetting process has been very interesting. the president's going to take time to make this decision because quite frankly, stuart, i believe it is the most important position aside from the secretary of state because veterans are dying. so i have no problem with him making sure that he makes the
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right choice. reporter: all right. so we still don't have that in. as you say we don't having a culture in either. one interesting note, liz, as i toss back downtown to you, we were wondering why oracle ceo katz got here so earlier. the roundtable was at 2:00. she was here 3 1/2 hours earlier. it was announced she is added to the transition team's executive committee. there must have been a meeting about that before the tech roundtable. there you go. down to you at the cozy stock exchange. liz: cozy. i have to tell you somebody is asking for you. peter tuckman. put the hat on, over my left shoulder. the dow almost. >> almost there, guys. liz: we're almost -- had to put the word almost. he had to put it on. he thought it was superstitious juju get people nervous if you put the had on. we're not there. 19,857. ton them mcshane intrend put
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reporter at trump tower. fox business is right on story. that is we're doing, we thank all of you for being with us. be with "lou dobbs tonight." he is following the thank you rally in hershey, pennsylvania for two others straight. followed by kennedy, she goes at 9:00 p.m. eastern only on the fox business network. need i remind you, we're the fastest growing cable network in the entire united states. closing bell ringing in eight minutes. that is all we've got to go. will it be a record for the nasdaq? we're watching that as well. if we continue to march closer to new lifetime records. of course dow 20,000 maybe. the 4 billion-dollar man, mark spellman, joins me live next. weighs in where you find the best holiday stocking stuffers in the form of stock, that will take you well beyond the new year. that is just ahead on "countdown."
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♪ liz: five minutes to go before the closing bell rings. i really want to you keep your eye on lower band here, specifically not about the dow. we're not dow 20,000 at moment. about the nasdaq. put it up. this is the number to look for. 5463.83. we're four point away from a lifetime record for the nasdaq. let's bring in lori rothman. >> i was lurking in your shot. >> peter was lurking. >> he always lurks of the he is professional lurker. they're coming to the closing bell right now. liz: what are you looking at here? >> oracle really headliner here. down about a third of 1% ahead of number. oracle trying to play catch-up with rivals in the web or cloud computing. watch for that. they have dollar problems too. liz: the ceo had been at trump tower. she had been at trump you tower. we're looking at company that does a lot of international business.
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you don't want to see the trade lines frozen up and gummed up if donald trump is unhappy with certain trade deals. >> we'll see if there are comments about her meeting today. the company is not too shy about putting bulletins. we hear from adobe systems. [inaudible] liz: thank you so much. >> thanks for joining me all week. liz: thanks for being here. i like you better ne to me dow jones industrials up 62 points. hanukkah and christmas start the same day but the gift of dow 20,000 could drop right into investors laps any day now. any day. 4 billion-dollar man from the al bind fund, portfolio manager mark feldman is here. first give me your assessment whether this happens tomorrow? is there enough of a headline view. look into your crystal ball, dow
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20,000? >> could very well be. i look underneath at valuation level, 17 times earnings on s&p 500. not outrageous. i think estimates could be low if we get fiscal policy bum and oil prices stay high. i'm pretty comfortable where we are here. i do think it could go up tomorrow. maybe early january. >> mark, any smart investor, we can put up your picks, i want people to know what they are, any smart investor continues to see close to record high after record high eventually shifts strategy. should the investors watching start to move things around a little bit in anticipation of a little bit of a selloff? >> one of the big things, we should be seeing a sea change in equity income investing because rates are up, people may want to run away from dividend-paying stocks. think that's right. you don't abandon dividend at all, over last 70 years, 40% of
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the total return from dividends. we're concentrating our position on companies that generated free cash flow on improving economy an rapidly improving their dividend. that is a shift in equities taking place and i think we're in very early innings for it. liz: a lot of people listening on siriusxm 113. your picks are loews, amgen, constellation brands. people think we might see selloff before year-end because trees don't grow to the sky. is that what you're expecting? >> not necessarily. hard to pick where the market tops or bottoms. we're have a strategy of rising dividends. so i think it is pretty safe place to be right now. liz: pretty safe place. thank you so much. wishing you and everybody at alpine funds, mark, a very happy holiday. >> thank you very much. liz. liz: mark spellman. no dow 20,000.
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but no nasdaq record either. come within there. [closing bell rings] markets settle higher. there is the closing bell. david asman and melissa francis with big earnings from oracle coming up a after "after the bell." david: not as high as it was. fed can't keep stocks down for long. stocks gaining footing back in the green as the trump rally rolls on. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered on big market movers but here is what else we have for you this hour. a big capitol hill snub as house republicans seeing red. why intelligence directors are refusing to answer questions over russia's involvement in our election. more key appointments come down from trump tower today as the president-elect's administration takes shape. we'll take you there live for update who is now joining the team and new names under consideration for the remaining top spots. your tax dollars at waste.


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