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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 14, 2017 3:00pm-4:01pm EST

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care sector, cigna terminating merger deal with anthem. cigna saying that also wants, well, $13 billion in damages as well. big breaking story. meanwhile, the market chugs on. the dow up 60 points. liz claman over to you! >> a remarkably resilient market, and we're on that cigna news. ashley, we've also gotten this breaking news, getting word that at least one high ranking republican wants an investigation into the flynn/russia situation. ll get that you in a second. wall street in a lovefest with president trump's policies and fed chair janet yellen sent out this valentine today -- while donald trump signed first bill trimming off some of the dodd-frank regulations he says are unnecessary. the dow, the s&p, the nasdaq taking it as a green light rushing to new record highs. the dow up 62. there is little love for
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general michael flynn at this hour. the fallout from his resignation last night resonating from the capitol to moscow. president trump's national security adviser falling on his sword after it was revealed he talked to the russian ambassador about sanctions during the transition and misled vice president pence putting pence in a very awkward position. richard haas was a staffer at the national security council on bush 41. now the counsel on relations with me live on what he says is the most burning question you all should have about flynn's departure? and tesla was far and away the leader in the driverless car race but is the combination of silicon valley and detroit about to leaveering lon muscin the slow lane. jeff flock and star auto analyst tim higgins is a journalist on this stuff. he'll get the checkered flag in the next great car race. which names you might want to
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be looking at to buy on this one? air jordan slam-dunks the drama at madison square garden between former knicks star charles oakley and team owner james dolan. how much danger was the nba brand about to be in? the markets are olding up remarkably well, will the records hold? we're less than an hour to the closing bell. let's start the "countdown." we have this breaking news to begin with. cracks are starting to form in the gop's defense of former national security adviser michael flynn. prominent republican roy blunt of missouri, the senator, demanding an exhaustive investigation, blount sits on the intelligence committee and demanding in-depth look what exactly happened with general flynn, and perhaps how much
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donald trump knew about it? in the meantime, keep referencing the market. wall street's love affair as stocks race to records at the close. look at dow, also the s&p up a quarter percent. any gain with the nasdaq, the russell 2000 or the dow are all-time records at the closing bell. 57 minutes before we see that. looks good at the moment. for the nasdaq specifically, a record close today would make it the most successful streak in more than 17 years, and speaking of making history, look at apple here. apple touching the highest level ever recorded in its 41-year history. right now it's at $134.85. had you bought apple stock last year, you would have pocketed a 42% profit. you know there are other stories we're talking about here. you know how when an engagement
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is broken off before the wedding, you are supposed to give the ring back? aetna giving a ring worth a billion dollars. that's the breakup fee it owes humana after the $34 billion merger came to a screeching halt. we need to get to the cigna story because cigna was halted a second ago, it just resumed trading after it filed suit against anthem. big pharma drama here. to the new york stock exchange lori, what's going on? >> reporter: not sure according to the release why things fell apart. we have numbers here. cigna is reopened, up one-third of 1%. now one-half of 1%. halted on the news. cigna notifying anthem it terminated agreement and plan to combine. cigna did announce it will expand repurchase authority to $3.7 billion. that's in an effort to thank shareholders looking forward to the merger which had enhanced the value.
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some investors and analysts did believe. the repurchase announcement is a way to acknowledge that, and our producer handing me another headline, that the quote here is that cigna does not have a right to terminate the agreement to the reference, according to the referenced merger act so cigna will file suit for damages looking for damages more than $13 billion. breaking news here, we'll follow the shares and direction here on wall street. anthem holding down now, one quarter of a percent. liz: do you not find this stunning, four health care companies, aetna, humana, cigna, anthem. >> because president trump was so critical about the drug companies, something about killing the government -- the drug companies are takin advantage of these sky high drug prices. liz: and then it makes you
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wonder but these are insurance companies. many you look and say what is going on if we cannot let the companies merge together to be stronger. of course we don't want a consumer hurt. these are big stories. the stocks are on the move. lori, thank you, to the white house and daily press briefing where sean spicer was pelted right and left about the resignation last night of white house national security adviser michael flynn. flynn's abrupt departure setting a new record for the shortest tenure of, is it, brad, any cabinet member ever? shortest tenure or shortest tenure for a national security guy? either way, it was a job he held for 24 days before admitting he gave, quote, incomplete information to vice president mike pence regarding a phone call with the russian ambassador. a phone call whose timing and substance has been called into question. fox business' blake burman live at the white house. spicer pressed one theme and
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seemed his theme was flynn did nothing illegal but lost the president's trust. did that do anything to end discussion of this flynn mess? >> reporter: still a lot of questions coming out of the press briefing, liz. despite everything that sean spicer laid out timelinewise which was a lot. here's what he said, january 13th, the department of justice was notified there might be issue here with general michael flynn in that conversation that took place two weeks before with the russian ambassador and said at that point, it wasn't until 13 days later, january 26th here at the white house, white house counsel was notified. a 13 day gap and spicer contended at that point the president was notified. the white house counsel got on this, and wasn't until yesterday that the white house made determination that michael flynn should go as head of the national security adviser. with that comes a lot of questions. among them, if the white house
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started working on this january 26th, why did it potentially take them all the way to february 13th for the president to make a final determination that flynn's got to go? sean spicer saying that there was some sort of due process that was afforded to michael flynn as it should have been, he claims, and that was the reason he was in the post for so long, but he said at the end of the day, it wasn't a legal issue that made them get rid of michael flynn. instead he said it was a trust issue. take a listen to spicer from earlier this afternoon. >> the first matter is whether there was a legal issue, we had to review whether there was a legal issue, which the white house counsel concluded there was not. as i stated in comments, this was an act of trust. whether or not he actually misled the vice president with the issue, and that was ultimately what led to the president asking for and accepting the resignation of general flynn. >> reporter: liz, spicer did make it seem as if there will be an investigation which
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starts within the administration, specifically potentially the department of justice. however, there are still a whole lot of questions surrounding that. not here at 1600 pennsylvania avenue but a mile to our east on capitol hill where the birds are chirping with that potential. liz: how much power does roy blunt have? he, of course, is the republican from missouri, sits on the senate intelligence committee. blake, he is now saying, and it's hitting the wires, he wants, quote, an exhaustive investigation into, and as it's put, trump-russia-flynn issue. that's how it's coming out on the headline. >> reporter: keep in mind, republicans have the control on capitol hill, so if an investigation were to happen, it would be republicans in theory leading this front into the former nsa head of a republican president, 24 days in, i think you said. keep an eye. liz: blake, thank you very much. by the way, we're just getting into the chair somebody who knows how the white house
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works. he worked there, council on foreign relations, richard haas is going to join us in moments about the burning question that he and you might still need to have about. this look at this, the dow up 58 points, holding onto most of the gains with the closing bell 50 minutes away. take a look at one sector soaring after fed chair janet yellen all but promised today she will lift a huge regulatory weight off this particular sector's shoulders. should you be buying in? the floor show is next. and the man in magenta with the midas touch for t-mobile. johnegere wiless carrier handily beating profits and revenue comes one day after verizon's latest shot across the bough. the stock is up three-quarters of a percent. and later is tesla about to
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lose the robot race? a head start of putting driverless cars on the road evaporated a bit? we're looking at robots on the road, straight ahead on "countdown."
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. liz: welcome back, dow jones industrial average up 58
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points, this as both democrats includg this gup led by elijah cummings along with republicans like the man to the right, indiana congressman luke messer who spoke with neil cavuto earlier joined the push for different levels of an investigation into the flynn situation. and the twitter verse is guessing that flynn might try to possibly delete incriminating tweets he made a few days ago. one stated -- well, we now than president trump says flynn did mislead him, and vice president pens was misled as well. will there be a full-blown investigation and how high might it go?
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richard haas served on national security council under president bush and author of the world in disarray. thank you for being here. sean spicer said flynn's resigned, nothing more to see, just a matter of trust, nothing illegal. is that it? is the story over? >> obviously not. that's why white house's can never be trusted to investigate themselves. i understand why they may see it as a matter of trust whether he told the truth to colleagues. there's lots of other issues and people want to know what's motivating this, going on with russia policy, and that's a proper area for the congress to get involved with and i hope it's bipartisan. i think we're beginning to see republicans demand some sort of an investigation, and i think it raises real questions about the role of the national security adviser. we're about to, i assume, sooner or later, see someone else appointed into the job. the real question is what is this president going to do so the second person can succeed?
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liz: and by the way, you were right on it looking more and more bipartisan because roy blunt of missouri who sits on the senate intelligence committee is saying, quote, he wants exhaustive investigation into the flynn resignation. so what do you anticipate here? a demand for transcripts of the phone call? are there transcripts? >> again, there is either recordings or transcripts, i think there will be an awful lot of depositions taken. people will be asked to testify under oath. some of this will be closed because of the element of secrecy and the communications. but this, here we are, it's the first month of the administration, already we've got a full-blown investigation with legal, political and national security consequences. liz: well, the president is questioning the leaks. he's going in that direction while others are going in the direction of the investigation, but for everywhere the president went even as president-elect michael flynn
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was right there with him. multiple photographs of them together. one of the obvious questions is, and sean spicer very clearly said president trump did not instruct flynn to talk about sanctions, but with the russian ambassador, the very day sanctions were handed down on the sanctions before the election, is flynn a loose cannon or did donald trump know at least that there was something discussed? >> people are going to want to know that, and the fact the russians didn't retaliate. they held fire after dozens of russian diplomats quote, unquote i.e., spies, people want to know what was sugge suggested. none of this takes place in a vacuum. for more than a year mr. trump and general flynn were consistently i would say benign in take on russia, so people are going to ask the questions
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what -- explain this, what accounts for this given the russian involvement and hacking in the election, given invasion of crimea, the takeover of crimea, given the war crimes they committed in syria. why is it that now this president and his principal adviser have been so sanguine or benign in policy towards russia. liz: well, do you find anything benign about this, the pentagon says there is a russian spyship about 70 miles right now off the coast of delaware, in international waters but just kind of lurking there. i believe we have a map. but again, it questions the disinclination by the administration to say much of anything negative about russia. >> that doesn't bother me. we collect whatever intelligence we can on the other, we do it through every means possible, technically human and so forth that doesn't surprise me. the real question is, again, what kind of assumptions are we
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making about russian motors. what are we doing? give you specific policy questions, are we going to continue to reintroduce military forces into nato europe to deter further russian aggression? are we going to give ukrainians some of the means necessary to defend themselves. liz: which nikki haley at the u.n. did say yes, she'd like to do that. but then there's the north korean question, this is extraordinarily tense and serious, is it not? >> ultimately with what russia may do in nato europe, they are close to marrying a nuclear ballistic missile that could reach the continental united states. can we work with china to head this off? if not, are we prepared to live with it or compelled to use military force, how old china react? would south korea and japan support us? this is truly consequential
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business. liz: thank you for joining us. richard haass, thank you so much. take a look at the markets, these are all records right here, and makes you wonder how many more can we continue to see. if you're a bull, you are absolutely on valentine's day loving the numbers. the dow up 61. the s&p up better by six. the nasdaq up 10. and don't worry about it. that's what fed chair janet yellen basically sent as a message to community banks who are now soaring. look at these names, these are regional communities, state street. regions fifth third. keycorp, first financial because she all but promised to mitigate the thing banks fear most, that's excessive regulatory burden. here's how she put it. listen. >> what we've suggested previously and i reiterate with respect to dodd-frank is that congress might want to consider exempting community banks from the volcker rule.
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many of the regulations we put out apply to the largest banking organizations, and not to community banks and so we try to make clear to community banks, this new reg, this doesn't apply to you, you don't have to worry about that. liz: have you ever seen her that animated, guys? in our floor show, i looked and said check the regionals, they were all up. matt does, that mean there's clear sailing for these names and people should be buying them? >> the majors, the financials are all strong. we were lower to open. got the news out from chairwoman yellen and they are upside, we haven't gotten formation on tax roefrment there's a lot behind us that could still take the stocks a lot higher. liz: yeah, ira, that is what people complained about, not all of dodd-frank is horrible, but the part that held the smaller or regional banks to the same standards as the big
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money center guys who were the ones that got us into trouble, was not fair. >> and they're right, and you're going to see more dodd-frank stripped away as well. what do we have in front of us, liz? bull market, i said last week, the sideways action was a base, you're moving up and that's what's going on and he has more in store for you in other regulatory moves he's going to come off on the markets. therefore the news ahead of us with janet yellen going to the sidelines, all bullish. liz: what isn't bullish. phil, your bailiwick is oil, we have compliance trying to cut the output because there was so much of a glut, they said we've got to stop the output and yet what filled whatever they drew down? the u.s., and the shale drilling that we have here. is that something that isn't an opportunity at the moment? >> well, i think it's a short-term opportunity but long-term there's no way the
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u.s. shale can replace the bigger projects taken off-line. a lot of the shale projects have a short shelf life. a quick decline rate. and it's going to take years to get caught up with the opec production cut that we've seen already. i think that's an oxymoron, the bigger issue today is president trump and janet yellen talking about regulations. donald trump just signed an executive order to get off the back of some of the commodities traders that were actually blamed unfairly for running up the cost of oil when we realize in history that the run-up in the cost of oil was because the global economy was falling apart and people were running to oil for safe havens. liz: thank you so much. a big market day. watching it all, matt, ira, phil, appreciate it. closing bell 36 minutes away. goldman biggest win or the dow 30 on track for a record close. goldman sachs up more than 36%. since the election, it's looking healthy today. up next, the nba's most
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famous ambassador forced into action duty to negotiate a major peace accord days ahead of the league's premiere events. what air jordan did to save charles oakley, james dolan and the nba brand. "countdown" coming right back. whether it's bringing cutting-edge wifi to 35,000 fans... or keeping a hotel's guests connected. businesses count on communication, and communication counts on centurylink.
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liz: we have news alert from headlocs to breaking up -- former wwe head linda mcmahon is new leader of the small business administration. the senate confirmed her in vote of 81-19. madison square garden, speaking of headlocks, scene of many big fights but none bigger than last wednesday's. where former knicks star charles oakley who started to take on security guards who began to get up in his face. he ended up being handcuffed, arrested, dragged out, banned from the garden for life by nix
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owner and msg executive chairman james dolan. that is when the real behind the scenes fisticuffs began with former players jumping to oakley's defense. fans screaming a at dolan to apologize. the nba all-star coming up this weekend the situation hit critical mass. nba commissioner adam silver with a secret weapon, air jordan. let's bring in the director of the sports business program at washington university, st. louis, pat risch. it is a stunning story of a brand in danger, getting hurt so badly, that solid, swift, management by adam silver had to come in and he had a silver bullet, didn't he, to fix this? >> well he certainly did. again, you have got to commend adam silver for just having the intelligence to bring these two sides together and reaching out to air jordan who is close friend of charles oakley's. liz, it is do and don'ts of leadership. adam silver, stepped forward,
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took the initiative, knew this was horrible for the league especially for before the all-star game and james dolan continues to mismanage the ownership of the new york knicks. liz: mismanagement, what was he supposed to do? you have somebody starting to get aggressive? i see both sides but what happened half i guess became the real problem where the knicks put out a tweet where they said they hope oakley gets help soon. you put players and supporters and fans on charles oakley's side but what role do you feel michael jordan played so brilliantly here? >> michael jordan is charles oakley's friend. there is conversation behind the scenes between jordan and oakley before this conversation took place where m.j. said look, charles, we need to look forward for this. you will look like the better man to take this conversation with the commissioner and with james dolan.
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so, again, you got to give m.j. credit for his role using that friendship to push the conversation along. liz: look at intraday chart of madison square garden, news broke that the ban will be lifted, that charles oakley will being welcomed back to msg, that stock began to move higher. it had been starting to fall off. at the moment it is up about a percent at the moment. it will be very interesting to be watching this. thank you so much, pat. >> thank you. liz: can you imagine the cameras at msg when charles oakley returns. he is coming back thanks to air jordan and mr. silver. closing bell, 28 minutes away. up next, autonomous vehicles are here. i got my chance to ride, to ride in one of them out in las vegas, at ces. no hands, mom. on the wheel. technological advances are coming fast and furious. forget the space race. who will get the checkered flag
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liz: general motors slamming the breaks on europe. the u.s. carmaker looking to sell the opal business to french automaker peugeot. no word on pricing yet but gm reportedly looking for a multibillion-dollar price for the brand that has been with the carmaker before world war ii. gm is trading up nearly 5%.
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peugeot was one of my very first cars. i had a diesel that chugged out black smoke. self-driving cars the attention of capitol hill today. two senators, republican chairman of the senate commerce committee, john thune, and gary peters said they plan to work together to lower the hurdles for the entire auto industry as we create autonomous vehicles, hoping to put forth legislation this year. as experts advised a house subcommittee, how soon cars without drivers could really hit the road. jeff flock has been watching all the developments. i would rather leave it to the car guys versus congress. they don't have to be involved. reporter: could this be the thing that unites republicans and democrats, the one thing that could, self-driving cars? as you point out, liz, republican senator and a democratic senator, on the same page. flexibility they want to give in the house. we heard about the virtues of autonomous vehicles. have we got a parent or
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grandparent got too old, lost their license. wouldn't it be great to get in a car again? my mother is 92. she never stops talking about. i wish i could go to the store, i wish i could do this. wouldn't that be wonderful? on capitol hill, the experts say, it will be coming but help us with regulation but they're not magic. listen to what a rand researcher told the house on capitol hill. >> they probably won't limit nate all crashes but may introduce new safety risks in the near term there. is not a practical way to prove autonomous vehicles are safe before allowed on the road for consumer use. reporter: liz, here is the people, 35 you thousand people killed on roadways each year, if you get autonomous cars to work right, that could be a tremendous thing. the somebody to blame during a crash. there are a whole lot of issues to work out with the autonomous
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issues. eliminating patchwork because some towns and states have regulation, eliminate patchwork, come in with a federal law, set of standards, that would speed it along. that is what people told capitol hill today. liz: that would make sense. everybody is on the same page and cars and their servers speaking to each other so we don't hopefully have many accidents. jeff, thank you very much. when it comes to autonomous vehicles who will become king of the road? let me bring in "wall street journal" reporter tim higgins. he focuses on autos and technology. he has covered apple. look, there have been leaders, there have been laggards. tesla had the autopilot technology and they tested it but i came from the consum eltronics show last month. nissan, ford, delphi, this is delphi's car i was in the middle of the night. there of course was a test guy there. his hands were off the wheel. we were making all kinds of turns.
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tim, who is ahead in this race? >> i think we heard today congress it is hard to know because there is no firm way of testing but if it you look at number of miles publicly done on public roads throughout the states, google, wamo is the leader with 2.5 million miles. liz: the guys at mit have been on the show. they have a whole plan in place where they would like to start testing. will it be silicon valley or detroit, or combination who wins this game. >> that is the big question. again motors making a billion dollar acquisition to start up their ought monitors program. we've seen results with more than 10,000 miles of testing in california alone last year, really kind of showing howing a agressive they're trying to be. liz: nissan and carlos ghosn came on with us on fox business, flat-out told us using nasa
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technology, the same stuff that guides mars rover. they're working with nasa to have the cars on the road where they're going. how far along are we? how far away are we? is it worth it to pick winners in the game as far as stocks are concerned? >> it is hard to say who is going to win because we're not quite sure how the technology will roll out. we'll see next few years robot taxi scenarios. gm and others testing in regional areas instead of needing to go all the places all over the world. they want to try it around the neighborhood. liz: jeff flock, i don't they if you just heard his report, he made the point what if there is an accident, who is to blame? is it the car owner? the person sitting in the car but not driving? the code writer? manufacturing? >> yeah, that is the big question, is how that is going to play out. i think that one of the big wins that tesla had in the last few weeks is federal regulators
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coming out after that autopilot crashed and looked into it and didn't find any safety defects. looking at the data, tesla enacted or put in place the autopilot saw 40% decrease in crashes compared teslas prior to that. a load of safety really helps bring the technology to the road. liz: great to have you. thank you very much, tim. tim higgins is the "wall street journal" reporter who covers all things technology in cars. let's get you this breaking news. vice president mike pence is participating right now in the swearing-in of secretary of veterans affairs david shulkin. of course this is the second within this hour because we just had linda mcmahon for the -- she is coming up. she has been approved. she has been confirmed. the senate unanimously confirmed shaved shulkin. he is an md, a doctor. he will promise to continue reforms. he shepherded as the undersecretary of health.
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his whole passion has been to shorten the notoriously long wait times that veterans are enduring to see doctors. of course as you know, president trump had picked this man because he was very much involved in making sure that veterans got some relief when it came to the wait times to see doctor look at the dow jones industrials adding on another 20 point since top of the hour. up 77. the dow stands at 20,488. we're close to session highs. goldman sachs president gary cohn going to extreme lengths to hold on to his position as president trump's go-to guy on economic policy? weren't we reading articles that he had a lock on it? coming up charlie gasparino with inside details you only hear on fox business how far the former goldman sachs guru is willing to go to keep rivals away. charlie breaks it. at the top.
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hour david and melissa speak with congressman mark sanford on his bill to replace obamacare. that is later on "countdown." we're getting all new fox news polls with president trump's approval ratings and various topics. that comes out 6:00 p.m. charles payne is the man. he has it on making money. u don't mace it. -- miss it. the smartest investing idea isn't just what you invest in, but who you invest with. ♪ isn't just what you invest in, but who you invest with. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. i'm all-business when i, travel... even when i travel... for leisure.
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charlie -- game of thrones ish you. >> gary cohn the performer goldman sachs president. very aggressive guy. nice guy but when it comes to -- liz: he is from cleveland. of course he is aggressive. into we've known the twice from cleveland super aggressive. its aggressive town. wasn't it an aggressive town? liz: yes. toughest there is. >> football hall of fame there? no, rock and roll hall of fame. liz: oh, my god. >> he is consolidating tremendous amount of economic power inside of the white house. we've been talking about. let me give you a few more details. there is another group, council of economic advisors. larry kudlow was supposed to be head of that as cabinet position. guess what? trump decided not to make it a cabinet position not based on prodding by you know who? gary cohn.
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basically the nec, national economic council, this sounds like gobble did can book but it means a lot, it is running the show within terms of economic policy inside the white house. he is main policy advisor in the white house. from what we understand even surpasses steve mnuchin recently confirmed treasury secretary. liz: what? >> here is why. mnuchin as treasury secretary is part of the national economic council you should know. in the past treasury secretaries have asked to be somewhat independent or run the meeting at the national economic council, not the chair of the nec. that ain't happening here. this is cohen's, cohn's game. he is running the meetings. he is the chair of that thing. he is running it all. so, if you think about it, the main point man on economic policy right now is not the treasury secretary. it's, it is not the council of economic advisors which used to be a cabinet position and is no longer thanks to gary cohn. it is gary cohn. he is basically complete ad
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pretty significant palace coup. now, there's interesting -- liz: that is a very dramatic term. we said "game of thrones." we said palace coup. >> we're on tv. we believe in drama here. liz: of course. otherwise we would be in print or radio. >> or at cnbc. liz: exactly. >> watching the paint dry as he talk about stocks. liz: cohn may be super smart and helpful to the american public and to the administration by doing this i'm just saying in a way, because you see what is happening -- >> don't go too far. >> reince priebus and stephen miller all having a batter for power in that part of the white house? >> yes. liz: maybe gary is being smart. >> you're saying gary cohn, in your view, biased clevelandesque view is voice of reason inside the trump white house right now? liz: until he proves otherwise, yes. on the economy. economic front. >> now there are people who posit that. i would also point out gary cohn is a keynesian liberal democrat who voted for president obama.
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so it is kind of an odd mix in there. people say he is -- liz: keynesian. he wants a trillion dollar infrastructure plan. >> wants tax cuts. we don't know how all that will shake out. there will be compromises how much of infrastructure versus how much of the taxes. can't really have both without blowing up the deficit and paul ryan and mitch mcconnell probably won't give them both to the dramatic degree he wants. that is where cohn is becoming very instrumental. listen, interesting guy. really smart guy. i find it fascinating that a buy was so far ahead in supporting president obama last couple years, not quite the second go round for obama, 2012, 2008, was one of his primary wall street supporters is now the economic policy driver of the conservative trump administration. it is fascinating. some he is stepping into the id there is problem with chief of staff reince pebus, whether he
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has enough power or others have power. but clearly he is the man there. you know what people are saying? goldman denies this? he is so powerful this, is total rumor, as a matter of fact, goldman has denied, that the chief of staff goldman sachs currently in there, john rogers, may take a job in the trump administration. that is speculation, that is how powerful gary cohn is. liz: cleveland, cleveland. thank you very much. >> john's friend of mine, i should point out. i hope he does get in there. liz: thank you very much, charlie gasparino. closing bell six minutes away, session highs right now, up 84 point with about 3 1/2 minutes to go. kiss me, buy, sell, hold, 21 billion-dollar man dan chunk is about to tell us three stocks in his hard on valentine's day. "countdown" coming right back.
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♪ liz: investors love affair with the markets continues as major averages hit records on this valentine's day. how long will the infatuation with equities continue? let's bring in ceo dan chung. record heights for the markets based on romance or reality? >> i don't think it is romance per se. we're looking at it, as united love affair with the old high school sweetheart. bond markets beneficiary of a lot of love for the next decade. next decade is equities decade. liz: janet yellen helped today. it would be unwise to hold off rates much longer. donald trump started trimming off dodd-frank legislation. there is something to the valentine's cake recipe. what stocks are you loving right now? >> we're looking at wide variety of companies. look at things discarded or
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neglected by other investors. for example, two names we like, wisdom tree, wetf. one of the leads providers of passive etf investing. this stock did not do well also year. we're looking great company. right part of the market. everybody going from active to passive. liz: you also like lending club. i need to ask but the at atmosphere. how much of a game-changer will that be? >> well on big numbers it is pretty big. 10% tax cut adds 8% to s&p 500 earn. for some compani it is more. apple is big beneficiary. wisdom tree is big beneficiary. it pays high taxes.
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can be a big boost to earnings especially in 2018 and 2019. [closing bell rings ♪ liz: dan chung thanks for coming on. there is the closing bell. david asman and melissa francis with the love affair and bulls. melissa: what imagery, my goodness. another huge day on wall street. you are making money on this valentine's day. look at the dow climbing into the close to end at brand new record high for forth day in a row. s&p, nasdaq and russell following suit. smashing records at the close. i'm melissa francis. david: they don't care about the political stuff going on. i'm david asman. after the bell. we have you covered big market movers. here is what else we have for you at this hour. erosion of trust, major shake-up


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