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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 9, 2017 3:00pm-4:01pm EST

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he's at times getting a little fed up with them. and important to watch which is why we have here for you every day here on foxbusiness. to forget you don't forget you can follow me on twitter. in the meantime we have a with the markets that doing awfully well. on the use of these essential tax cuts. no white out on wall street. we have the doubt, the nasdaq and s&p 500 all hitting intraday all-time highs. yes we have some good earnings with news. we have financial and energy stock. but many of the 40 million people living in the euphoria. bringing much of the region to a full stop. and thanks to the major snowstorm delivering up to a foot of snow with the blizzard
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conditions in many areas. the nation's capital lucky. as president president trip have a busy meeting with the airport executives at the white house. in his side new executive orders in what he said will keep america safe. the foxbusiness all-stars standing by for all of it. even more of the refugee terrace the list that we first brought you yesterday. they came into the u.s. they were busted for tereus activity. one of the top female executives telling us when we can expect to see president trump have a breakfast with the bankers. she is here. we are less than an hour to the closing bell.
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let's start the countdown. let's start the countdown. the northeast is reeling from that snowstorm that has put dozens of commuters and businesses at stand still. residents are dealing with thunder snow. need i say more. a foot of snow already there. it's not just connecticut all across the northeast. from new jersey to pennsylvania to new york and ac storm that had people saying i might just stay home today. it's not slowing any action down on wall street. the three major indices racing. we have them up hundred 45 points very nice gains for the s&p and the nasdaq as well.
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remember yesterday i said they don't intend to jump before the storm hits. look at it as it hits. they're up too and a third% as well. that is a snowplow company. home improvement giants. as people race. you are late if you're just going out to get shovels, snow blowers and rock salt. hopefully you have these in your portfolio. a court ruling blocking the proposed acquisition of the deal violates federal anti- trust laws. you have it down the stock is hitting a new high today. the roadblock has been pushed through at least for investors. whether the airlines are at
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least starting to see any relief in the travel nightmare. they just moved that markets with his question and they are reacting to the records falling along with the snow. but you never want to see when you arrive at the airport. pn up to canceled, canceled, counseled. not bad is that true. with the international airport is one of the nation's largest airports. the breaking is here is that the blizzard may be breaking up as we see snow sideways here in new york. we do have the flight aware. and then here is a number. they are easily looking at the
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worst travel. >> in places like chicago we have loose skies and beautiful sunshine. look at the arrivals board late and canceled particularly everything in the northeast. look at the worst airports. about an hour or so ago. and jfk. they tell us i've been talking to folks here who say that it's probably going to be canceled later as well. and tomorrow it's can markets can be a mess because all of those planes will be out of position.
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that's how it always goes. but what is truly amazing is what was concurrently going on in washington dc as a snowstorm was intensified quite the time it was unbelievable. news broke that one of the busiest airports in the world new york jfk issued a full ground stop leaving some to question if the airline ceo should have taken a snow check. the stocks are not showing any negativity. you have a lease in different ways help lift the markets on what were seen on the lower band. it involves air-traffic controlling.
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this meeting earlier today basically the president going after the infrastructure system as it stands saying essentially that the faa is obsolete and there needs to be a major push we have talked about the need for new infrastructure. goodness for that. also some major news just a little while ago. during that meeting that the president have said he would release in the upcoming weeks i plan for lowering the tax program. at this point the business aspect is ahead of the individual tax reform. i really wanted to get out this message. he said major components of tax competence of tax reform
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on both sides is coming. this will be unveiled in the upcoming weeks. without getting into the details as the biggest tax reform bill or at least the tax reform package is 1986. take a listen here asses of the timing about how this all works out. see mick when you look at the segment for that. one is using the fi 17 budget. and then you can use this to utilize the second opportunity. here is what he same. fiscal year 18 which begins october 1 at that point that's when we will try to use reconciliation basically a trick up there on capitol hill. the push through this tax agenda that they say they will be unveiling here in the
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coming weeks. >> right now it's up 142 points. right there at the point where you ask that question we saw the this bike very close to the all-time high of the day which is up more than 150 points but it definitely moved on that question again i would like to remind our viewers that steve mnuchin the candidate for treasury secretary that the wealthy might not get any tax breaks. we are watching all this and as we get this information it has been such a blockbuster day. after hitting an all-time high earlier it's now on track for the fourth record close in just five days. what are the stocks that brought us there. let us show you the top three
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performers so far this year tesla, you may know that. it has definitely as you see surging 25% with the overhauling and all of the drama that the ceo in sumner whitestone and all of the changes. let's get right to the floor show. they're watching all of this. this as we see the volatility index below 11 when it is in the tens that is extreme relaxation doesn't get dangerous and people become to come about what may be on the horizon today the tax by trump is really reducing this market. >> i think that's a the real headline that is out there. we are getting through that on a positive note. the economic data has been good. they are looking for headlines
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that are out there. there hasn't been any real major headlines. we take a little bit of a pullback but i do think investors have gotten very comfortable since his election as a market continues to move higher and higher and i have to do is sit on the sidelines and watch it go higher and higher. i think they would love a little bit of clarity as to what is truly going to drive this market moving forward and are we getting to a point where stock prices are too high. clearly we had hit three across the board here. we continue to move higher. hope you take some of the short-term profits off the table. we had earnings after the bell that are coming out.
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twitter came out this morning. that's been a bit of a disaster. it almost seal stock. the indices are just rolling ahead. what concerns do you hear and what excites you about what you have seen? >> what excites me is that right now the growth momentum just seems like it's unflappable. over 75% has reported. on the earning side. they are seen the momentum seeing the momentum there is also a lot of prerogative or write with that regards of the ryan strategy and you look at the tax code as it's written. they have until august but a lot has to take place. that does worry me a little bit. we still have a lot of slack
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in the economy and the strong dollar. we do get the first time in jobless claims. it stabilizing. the market is still bloated. i think our viewers want to hear that there is a realistic shot that we will see what was promised outlining it today seen two or three weeks will see some hard plans on tax changes and that is what people have moved on this market. >> and that's exactly what you're gonna see in the two to three weeks. it's just verbiage on paper. the time it would take to enact any of those new tax policies were talking about months even years down the
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road. i look at that and i say okay it's great now. going back to a few weeks ago. now as a time for everybody that is in this market that is still long in this market by your insurance. no need to get all of it here. it would be ridiculous to not buy that perfection right now. i know one of you guys said august. thank you so much. we have big earnings news after the bow. the quarterly report at the top of the hour. with the closing bell 45 minutes away. we have them up 137 on a very snowy day coca-cola is the biggest liger on the tao.
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i don't know. i just hear some people saying they're not drinking full-fledged coca-cola anymore. we will see. you want a nice warm cup of hot chocolate or coffee and that's great news for dunkin' donuts. a better than reported profit. they are up for and a quarter percent. less than a month into his presidency president trump appears to be quite the pro-business chief executive. today of course the airline executive we have seen him with the pharma executive. union leaders and others but one sector of the ceo has been left off the list.
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author and run of the top female executive of the history of wall street. is holding up the top brunch invite. whether dodd frank can really be rolled back.
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simon the president calls and income. they came and they talked about tax relief. certainly a much happier subject than snow. he said we have to keep prices fair but i will help you out by cutting regulation. they were among the first to be invited. the president wanted him to get good jobs back here in america. he has met on an individual basis with many of them. they have yet to host breakfast with the bank chief. she knows a thing or two about wall street. and now the cofounder.
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is that plant that he hasn't brought to other the whole group. maybe because he already got them. they are already starting to take action. so i don't think they're backing for an impact. that was along with hiring bankers. i'm sure there's a point where he wants to bring them together and get their thoughts on dodd frank because that is the regulation that came in more than 2000 pages 400 different regulations within it can he scaling back and get it trended down. you are taking away the things that have helped but keeping our system safe. they are all doing back flips. maybe which is the last time
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they used the course of the cycle. it has been a while. in the crisis. tens of quarters worth of earnings. they have not proven himself to be the greatest self regulated. if you have the ear. what's the number one year. would you say. i would say the number one thing you should keep his and it is is not good for anybody. they never proved that they could have that. they didn't do anything for the consumer and the people. they say statement you have to
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give me something that you would tell donald trump. is it too many stress test. you think you get rid of capital. to your first level business school finance class. maybe you're are a your are a week goes up in certain cycles or certain quarters the highs are higher and the lows are lower. less of a capital cushion. is not clear to me that the cycle goes up simply because you reduce your capital. it could be quite the opposite. you know as much as i do on that. what about this. could he roll back rollback the worst parts that have swept in the smaller regional banks did not deserve to be held to the same standards could at least save them some
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headache. all of the talk about bringing e ast managers i we understand it was the big guys didn't have enough capital. you all made the same trade. it really hurt the economy. in cap the right amount of capital which is likely more than the bankers are going to want. we can do things like rollback of the interchange fee. he said what do they cause. what is that weird thing. since the election they have so much hope that this thing would be sliced down and skinny down. i would watch this carefully.
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there will be the near term moves. if you think about the long-term holding these organizations it's not clear what the returns on capital are. if you want to be careful with your career. thank you for having me. the closing bell. thirty-five minutes away. the dow is up hundred 29 points. did you see this. charles oakley angry ejected and arrested leslie. after mouthing off apparently to james dolan at the garden leslie. there is a current nba superstar is also fighting with management and it's all
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about donald trump we will tell you about who that superstar is in just a minute. i use what's already inside me to reach my goals. so i liked when my doctor told me that i may reach my blood sugar and a1c goals
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liz: if under armour didn't have enough problems lately after missing earning numbers, the company facing backlash from one of its biggest star athletes. golden state warriors guard, one of the best shooters in the nba steph curry questioning the company that pays him millions in endorsements. after its ceo, kevin plank met with and later called president trump, a quote, real asset to the united states. when asked about it "san jose mercury news," when he thought about that, he told the paper, i agree with that if you remove the et from asset. steph curry was not clearly happy and must not like donald trump but will he walk away with millions of
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under armour endorsements? not yet. they apparently met and he and kevin plank. he said he assured him comments were focused on president trump's business moves. curry is in the endorsements. he added this to the "san jose mercury news," if i say the leadership is not in line with my core values, there is no amount of money, there was no platform i wouldn't jump off if it wasn't in line with who i am. this is interesting story. the backlash couldn't come at a worst time. under armour has been struggling. if you look at this chart, the stock fell off a cliff after the company reported fourth quarter results on january 31st, that were far from a slam-dunk. the stock is up today, it is doing pretty nicely. we can show you a two-day chart. it is tougher day. that is intraday right now. yesterday is a tougher day, trying to climb out of that hole. kevin plank isn't the only one getting a icy treatment.
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look at two camera shots on your screen right now. on the left side we have weather who in new york at this time yesterday. there we had it, 59 degrees. nothing on the streets, no problems. then to the right, that is a live picture right now, of the blizzard that just finished up going through full swing 25 degrees. you see how dramatically we dropped in temperature. there is winter storm warning in the northeast slowing down commutes for millions of people from new york city to boston, canceling flight can selllations as far as west as you saw in chicago. this weather is not for the faint of heart. but we've got strong hearts here at fox business with the dow up 121. it is definitely a strong market. 28 minutes before the closing bell rings. outrage stretching across the globe over the white house's so-called muslim ban. and of course as you know the president has said it is not a
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muslim ban but the trump administration says the outrage should be aimed at suspected islamic extremists. the nations they come from, how they have gotten into this country, and what they have almost been able to pull off. we first told you about a list we obtained yesterday. in this hour, multiple terror suspects entered the u.s. since 9/11. we told you about some of them. up next, we've given that list to fox strategic analyst lieutenant colonel ralph peters, gives us his take on the white house take on immigration in certain parts of the world. president trump's call with four middle-eastern leaders including one from the one of the unlucky seven, iraq's prime minister. oh to be a fly on wall for that. coming right back.
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>> i'm nicole petallides on floor of new york stock exchange with this fox business brief.
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nike and walmart leading dow jones industrial average to a new record despite poor earnings from dow component coca-cola which is trading down 2%. what is behind the big moves. relaxing of border tax worries. look at whole foods admitting problem. health food market abandoned goal to open 1200 stores. the company will continue to grow but me more disciplined. shares are up 3 1/2% after missing on earnings and 2017 guidance. more with news corp, expedia, pandora, yelp and zinc today -- zynga. liz talks to lieutenant colonel ralph peters talks about the president trump's phone calls to world leaders about the proposed travel ban. ip, and every putt,
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♪ liz: so here is what we understand. president trump is working the phones at this hour. he is on the phone with middle-eastern leaders just moments ago. we're told he hung up with, not hung up on, finished the call with the prime minister of iraq, hider al-abadi. after speaking with leaders of these nation, afghanistan, qatar and kuwait, no doubt the travel ban on seven muslim nations was topic of discussion. we obtained a list of 24 individuals from ties in terror from seven nations in question, managed to come from the country who were either naturalized citizens, came as refugees, they got green cards, you know me, folks, i am a measured person but there is stuff in here very worrisome and disturbing. i want to bring in fox news strategic analyst, lieutenant
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colonel ralph peters. first yemen, appears the trump administration is shifts focus to the country of yemen versus syria. you got to give me the spin on that. >> well it is really a crisis for saudi arabia. you saudi arabia thought they could intervene in the internal collapse in yemen and, fix it and turns out that iran has managed to very chiefly embarass and bog down the saudi military. yemen is now a failed state. running out of water by the way, facing a famine. and i think we're looking at that, it is a crisis. i'm not sure anybody has an answer for that one. as far as syria goes, we're really getting pushed out by the russians, the iranians, the turks. i think the administration finally has to be a little patient and work out a comprehensive init greated strategy. the way businesses do. liz: the way businesses do, find
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the evidence, put it together, work the strategy. when we got this list we decided to work very hard to verify it and on this list were 24 different individuals from countries like iraq, there are a few from syria, lots from somalia. we picked out some, i know you looked at these i found extremely disturbing. these people either came in as refugees for immigrants. for example, this is a somali ibrahim. i'm sorry, let me give you mohamed adou. he came in as a refugee. naturalized u.s. citizen, and was later sentenced to 30 years in prison, convicted of attempting to use a weapons, -- weapon of mass destruction, a bomb, to set off christmas tree tree-lighting ceremony in portland, oregon. another somali came in as refugee. he is a virginia cabbie. he able to work here. he became a naturalized u.s. citizen. we don't have his picture. but then the next thing you
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know, he was accused of providing material support to al-shabaab, which is a foreign terrorist organization. he has escaped. they think he went across the mexican border. ralph a bunch of others including a iraqi translator who is supposed to get special status. he pledged allegiance to isis and lied about it. this list has gotten a lot of our viewers very upset. i couldn't tell you how many tweets i got after we talked about it and i think its important we do say, none of these people were able to kill americans on american soil but, would they if they could? >> well, these people would have killed americans if they could, thankfully our intelligence community and law enforcement, really has done a great job since 9/11. liz, you really raised a couple of points here. one, we have not had proportionate problems with all muslim-american community. the somalis have been a disaster. it is a a barbarous country,
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female mutilation, deforming girls private parts is a good idea. other countries in the list, iran iriran-american community have been great success. fleeing tyrannical regime and educated and civilized. on one hand we need to address the fact we have a per capita problem with the somali-american communities. we need to work on that. on the other hand we need comprehensive, stricter immigration reform. liz: which is what donald trump wants. >> yes it is, but, haste makes waste. i am with his goals but you got to get it right, and this executive order on immigration was the equivalent liz of an ipo never been run past the lawyers or accountants, headed for trouble. now he has to dig out of this hole. liz: great to see you. look, many americans are conflicted.
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of us came from somewhere else. i'm russian romania via canada. we want to keep this a vibrant company with all different types. >> absolutely. we need to know who is here. liz: list proves many came in as refugees, naturalized and green cards and tried to pull off the horrible acts. thankfully they were not able to. lieutenant colonel ralph peters, appreciate you coming on. >> thank you, liz. liz: i got this breaking news. i told but the ground stop at jfk? four 1/2 hours later that ground stop at new york's john f. kennedy airport has been lifted. that doesn't mean things are running smoothly. we have ground delays at the airport. they are still continuing. you see some snow there. as soon as we get more information we'll let you know. but as you look at these markets, they were never grounded. dow jones industrials jumping 124 points. s&p up 14. nasdaq better by 33. we have little sad story of the little bluebird, twitter. as a control enthusiast,
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i'm all-business when i travel... even when i travel... for leisure. so i go national, where i can choose any available upgrade in the aisle - without starting any conversations- -or paying any upcharges. what can i say? control suits me. go national. go like a pro.
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liz: boy i tell you, if you can't capitalize on a president bringing in 23 million eyeballs to your company and what it does, then, i don't know what, i don't know what to tell you people. twitter came out with numbers, down 12% at the moment. the stock is getting crushed, even as it actually found a guy who would help them out. rich greenfield of btig he was the analyst who said, listen this company has a lot of things that people like to use. twitter then, blew it. they reported the slowest quarterly revenue growth since going public, and charlie gasparino, i'll tell you, i don't know, donald trump should have done wonders for them, but if that didn't work, what the heck?
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>> as we've been reporting forever this is company a lot of problems. they have bright spots. the sports stuff on there. this thing will be sold, my view, this year if it goes down to 12. that is the number. you have to put a premium on top of 12. liz: yeah. >> it is still too rich at its current levels to be sold. people think it sold with better management and integrated into a bigger product. if disney will buy it two things have to happen. they have to be sold and get rid of toes on twitter. -- trolls. no brand wants to be associated with the trolls. liz: facebook and snapchat have better numbers. donald trump went on the offensive after nordstrom drops his daughter's clothing brand simply because after business decision. this morning kellyanne conway may have apparently taken things
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a step too far, that people should go buy ivanka trump's stuff. to charlie gasparino, you looked at that i have to speak to lawyers about this. >> we should point out, what is great about the story, it is a business story, a political story. there are business and political people weighing in on this, political corporate governance experts what is difference between donald trump said, much more of a defense of his daughter, you're picking on my daughter. liz: she is a nice girl. she is wonderful person. >> it is that as opposed to a specific plea to engage in, engage in some commercial dealings, telling people as a white house official, which kellyanne conway is, to go out to buy the product? donald didn't do that. he just used his first amendment rights and got mad at them, and tweeted about them. she went and basically used her twitter account as white house official to advocate a commercial venture, go out and buy this commercial venture. liz: then sean spicer was asked.
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>> think about what he said. we have counseled her. he didn't say we have done everything else. counseled. what does that mean? that is a lawyer. i think she stepped over the line. i think it is pretty clear she did. john coffey at length, columbia university, expert on corporate governance and ethics. he believes trump was first amendment. this is advocating a commercial venture. this one seems to step across the line. liz: i have to say nordstrom is allowed to make any business decision it wants. >> yeah. liz: there is a store chain called annie says, it's a discount chain, happened to be -- wait, couple months before the election. and there were multiple rounders of ivanka trump heavily discounts coats. >> did you like it. liz: i'm being very honest here. 0% discount. >> just as -- 70% discount.
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>> just as they're allowed not to sell her products donald trump is allowed to voice a opinion about his daughter. liz: no one questions. >> some people thought they are. that it violated ethics code. john coffey and others said he did not. she may have. she advocated go out and buy, not supposed to use your position. what is fascinating about the administration, business and politics is every day. we're going to be covering it every day. i will tell you this. the pr firm, major pr firm they started a rapid response crisis communications business directly aimed at protecting companies from donald trump when you get in his cross-hairs and other corporate pr companies are going to do the same thing. liz: nordstrom is jumping 2 1/2%. >> they obviously don't need to hire them, their stock. remember a lot of companies, they were caught corporate
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flat-footed. you see what sard is doing, every day there is tweet or comment, if not nordstrom or someone else. companies have to protect themselves. pr businesses responding to that. liz: charlie, thank you. if he sticks to talking about tax reform, markets go up. >> he did today. mentioned something about taxes market went up 300 points, 130 points. liz: at least in certain cases. charlie, thank you very much. closing bell six minutes away. new york city slammed by winter weather. new york city is anything but frozen. the market maven says new highs are just beginning for stocks. you have to stay with me to find out why, especially considering this bull market has been going on a couple years now. "countdown" coming right back.
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♪ liz: we have the gerbils ready with the confetti cannon because
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we're about to see record closes. they could be moments away, dow, nasdaq, the s&p. you have to stay with me to see that happens but we are skyrocketing at the moment for new highs. according to my next guest that is not scaring off investors. talk about a market without borders. why so attractive to foreign investors? lido isle's jason rotman. is that causing big move in the market, not just u.s. stock owners on the sidelines saying i'm ready to buy? >> there is a lot on the sidelines within our country but i read an article, swiss national bank hit record ownership of u.s. stocks. unbelievable actually. on a big macro level people are piling into the u.s. there are no borders. you can buy stocks wherever you live but i want to focus on two stocks still way undervalued. this is the main issue that everybody has been looking at. the market launched 10% since trump. where is the value?
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do i buy all-time highs? liz: no. >> two stocks i like to mention, number one is my favorite by far growth stock. used to be facebook at 60. now it is at 130. stratasys. it was head of its time. it ran up to 140. leading 3d printing company. its at $20 a share. signing deals left and right with manufacturing partners this is pure infrastructure manufacturing play a la donald trump's promises. this is amazing growth stock. i think it literally will be a triple. liz: you had sprouts, which is a grocery store. we're coming up against a all-time record close for the dow, nasdaq and s&p, folks stay with me here to see the confetti, you tell me how much longer does it last? >> you know, listen, this is going to last at least through the first quarter. there is really no reason to be short. whenever the market has a scary decline, it is because of some acute reason that pops up where people get concerned.
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right you no the market is climbing a classic wall of worry. we will be strong throughout the next two months. liz: great to see you. jason rotman, lido isle. he is our strong guy today. there is the closing bell. [closing bell rings] trifecta across the board with major averages. david, melissa, you get history making. melissa: that's right. you're making money today. stocks soaring fueling the dow to a brand new record close. losing a little bit of steam into the close you but a record nonetheless. s&p and nasdaq ending at record highs just as well. i'm melissa francis. david: i'm david asman. we're glad you could join us. this is "after the bell." we have you covered on big market movers. here is what else we have you for you this hour. markets get a boost after president trump made comment regarding a major campaign promise. our

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