tv Countdown to the Closing Bell With Liz Claman FOX Business February 17, 2017 3:00pm-4:01pm EST
freaking out. they don't like any of it, and today, he's right back on message with the economy. this is what got him elected in the first place. he's talking about creating jobs and bringing economic prosperity back to this country. i want to hear you from. go to my twitter account -- let me know what you think. liz has you from here. liz: huge breaking news story coming out of telecom world. two stocks you may own them, but boy, you got hear about this. get it to you in just a second. did you catch the sideshow there in south carolina? president donald trump while visiting boeing throws down the gauntlet to spark what could be a major military jet order competition. moments ago, as you see, hopping on air force one to head to florida for campaign-style rally this weekend. he should arrive in just a moment. taking you live to mar-a-lago. it's what happened in the last hour that you and every taxpayer needs to see. while visiting that boeing plant in south carolina, primarily to get a complete
tour of the dreamliner 787, a passenger jet built in america by americans, his take no prisoners management style jumped out as he revealed something that no doubt has two aerospace giants in a vicious competitive battle for the government's business. we're getting henry revel on the horn of a jet stealth slugfest. the president's surprise news conference yesterday filled with headlines. most notably for the markets. blake burman at the white house whether the markets will run out of patience waiting on the tax plan. on wall street, nothing patient about the nasdaq. it is on pace for a record close again as the markets head into a holiday weekend with gains for the week. let's start the "countdown". we're less than an hour to the closing bell this friday.
. liz: breaking news, japan's softbank which owns sprint is saying it's prepared to give up control of the wireless company to force a merger with t-mobile. reuters is reporting that sprint is willing to do this to retain minority stake in the merged companies. both of the companies are jumping at the moment. sprint moving higher 3.5%. t-mobile 4%. softbank is run by masayoshi son, he promised to bring thousands of jobs to the u.s. after meeting with president trump. as you look at shares, stay on the story, keep our eye on it, there could be a merger between two serious rivals. speaking of mergers. your ben & jerry's with a side of heinz ketchup not something you want to eat and unilever either.
the consumer giant says no thanks to $143 billion takeover from kraft heinz claiming it undervalues the firm. the offer amounts to 50 bucks a share. right now unilever is not there, $47.96 that gives credence to unilever saying forget it. you need to come up on that. kraft is saying in a statement it looks forward to coming to terms on the deal. kraft heinz doing nicely, the biggest leader in the s&p 500, up nearly 10% with unilever up 12%. broader markets, mixed picture with the nasdaq jumping ahd but all three major indices on track for a gain of 1% for the week. breaking right now, as we showed you, president trump departing charleston, south carolina after touring boeing. the president currently en route to palm beach where in just over 24 hours he'll be holding a rally, kicking it back to campaign-style trump. kristen fisher is ahead of him,
standing by in west palm beach florida with the latest. kristen? >>. >> reporter: hey there, liz, this brought together trump's top priorities, jobs, trade, taxes, less on imports and more on products that remain here in the united states, and what could be a better backdrop than boeing's brand new 787 dreamliner. he told the workers that were gathered there, i will not disappoint you and you have a level playing field again. he had a message for american businesses, he said there will be a substantial penalty for companies who try to ship jobs overseas but he's going to try to help the companies out by lowering taxes and reducing what he describes as job killing regulations. now at that boeing event today, you had a return to president trump -- a return to candidate trump. you had the boeing event today. the epic press conference yesterday, and the big rally, billed as campaign rally in
melbourne, florida, about two hours north of here, tomorrow morning, and you know these huge rallies were a hallmark of his campaign. we saw some of them, a little taste of it during the thank you tours during the transition. this will be his first big rally as president of the united states. listen to how he characterized this trip yesterday during that press conference. >> i'll be in melbourne, florida, 5:00 on saturday, and i just heard that the crowds are massive want that to be there. >> reporter: and we're expecting thousands of people to be there at that hangar in melbourne, florida. and after that, president trump is going to be returning to winter white house, mar-a-lago. his third consecutive weekend spent at mar-a-lago, and one of the main things he is likely going to be doing this weekend is meeting with potential candidates to replace michael flynn for national security adviser. and our john roberts spoke with a senior administration official and here are the candidates that are believed to
be on the top of that short list. you've got lieutenant general keith kellogg, general david petraeus, general alexander general mcmaster. just because we are here in beautiful florida. this is not a vacation, this say working weekend. liz: yes, as it appears most of the weekends have been. kristen fisher, thank you very much. the aerospace world was watching and listening and sat bolt upright when president trump complaining about the exorbitant cost of fighter jets stood before the boeing passenger jet and dropped quite the verbal missile, listen. >> we are going to fully rebuild our military, by the way, do you care if we use the f-18 super hornets? what do you think? [ applause ] >> well, thought that was a super hornet.
[laughter] >> we are looking seriously at a big order. liz: okay, let us read between the lines there. competitor lockheed martin currently has the military contract for the stealth f-35 fighter jet, but what you just saw may start a huge competition for boeing's super hornet to muscle in. boeing getting the trump bounce on that. up about a percent at the moment. it is by the way the biggest mover on the dow industrials today and hitting record high of $172.35. for its part, lockheed martin is pulling back just a bit. let us bring in howard rebel one of the top aerospace and electronics analysts and he joins us on the phone. okay, howard, after that, a reporter was able to grab president trump and ask him again to clarify. i want to play that for you. you got to listen closely because the microphone wasn't close.
again, he made it look like he was going to make the companies duke it out. listen and we'll talk. reporter: [inaudible] >> negotiate. never heard that said by a politician, the price is too high but we're negotiating. liz: okay, there we have it. you have to tell me what you make of this? is this the donald trump management style tloelg up a piece of meat and watching two competitors go after it? >> it's been an american tradition that there's competition in the fighter market, and the way things are going to play out, we are going to see a need for both f-18s and f-35s. liz: you're saying there is room for both. he did specifically say we're looking at a big order of f-18, that's the super hornet. right now, you've got lockheed martin, the larger in order place for the f-35, but it did sound, howard, he's been very
unhappy with the high-priced cost overruns of the f-35, that this almost puts them on notice. >> the point is you always want to have more than one fighter solution. the f-18 for the navy is the right answer and, in fact, it's been the right answer for the electronic warfare capability of the u.s. military. it would not make sense to give that to a stealth fighter. liz: yeah, let's not sound naive here. we understand there are two very different components to both the jets, they are stealthily, but the f-35 does one thing, the f-18 does another. they have a different way of landing on aircraft carriers, et cetera. the chinese and the russians are working to develop low frequency that would track stealth jets does, one evade other the best you understand? >> the reality is stealth isn't what it's cracked up to be.
if you look at the range in payload, the f-18 beats the f-35 hands down. liz: howard, if you had to pick between the two stocks, lockheed martin and boeing, is there one that goes ahead? we've had lockheed outperforming boeing over the past year. >> we had lockheed as a buy and boeing as a hold, and we've been very clear that we've had some concerns about the f-35. so i would say, what the president is saying is reinforcing our point of view. liz: very interesting, we're calling it the stealth fighter slugfest. howard, we appreciate you getting on the phone with us. >> thank you. liz: any time. short at your own peril. that is the tough lesson one fund learned after losing a stunning $600 million putting bearish bets on the market. folks it's the topic du jour,
catalyst hedge future strategy plunged 5% after bearish bets were undone by the s&p 500's stubborn and repetitive run to fresh cords. this is a tough market to navigate. how do you invest your money without landing on a land mine. right to the floor show, tim anderson, look, it happens to the best of funds, but certainly this fund kept thinking that the donald trump buy was going to fall out and it hasn't yet. >> no, it hasn't yet, though some people may start to be concerned about valuation levels of the market, there's no doubt that the technical underpinnings much the market are still very, very solid and improving almost every week. we're going to the fourth consecutive week of weekly all-time highs for the nasdaq and s&p and have a weekly all-time high, three of the
last four weeks for the dow jones. there's no doubt we may get a pullback at any point in time. have a little pause, a consolidation, seeing a little of that the last couple of days, but the technical strength underneath the market remains solid. liz: chris, smart investors always ask, okay, what could go wrong? anticipate that. and does the pressure, the longer we go without a modest correction, we're down 38 points for the dow. the longer we go does the pressure build up on the san andreas fault and you have a earthquake? >> yeah, as we move without a correction, more and more people will continue to try and make these bets and they lose money. they reload, reload. the correction will come when so many people are tired of selling it. they don't have the hedge or short on, then they'll get a move. typically anything less than 5%
is considered noise. 5% with the dow at 20,000 is a thousand points. we could have a big move and still have it not be that significant percentagewise. liz: we're going into a holiday weekend, jeff. a lot of people drive. i'll be driving. driving to the great state of vermont. boy, gasoline is cheaper again today. u.s. consumption is down, and we're looking right now at storage levels for gasoline, the highest glut in 27 years. so maybe if we're talking about short at your own peril. that might be the place to short. >> i'm not with you on that, to tell you the truth. i'm friendly to the market. it's been a buy on dips for the last several monthses a well know. liz: worst glut in 27 years and you're still in this? >> no, no, no, i'm just at this point, put it this way, there's a lot of talk. you're with the majority here, but i still think this market
has a little bit more on the upside. the high 50s is feasible within the next month or two. granted to speak about the stock market like you were before, it always happens, whenever everyone gives up on selling something, that's when the move will happen. if you wanted to load up on cheap s&p puts down the road, you might get a nice reward in the next couple of weeks. liz: i hope all of you drive carefully wherever you are going. thank you for joining us on a friday. tim, chris and jeff. >> thanks a lot. liz: any time. closing bell, 46 minutes away. united health is turning out to be the biggest drag on the dow 30 after this news. department of justice suing it for overcharging medicare. yes, apparently there is a whistle blower from inside the company that says united health has defrauded medicare, they ardefending themselves but the stock has been up over 42% the last year.
today it is down. and verizon jumping. verizon is the one telecom that everybody is watching along with, look, t-mobile and sprint and that breaking news. we're going to see if this part of a merger maybe weakens. we're watching that and more. campbell's soup, they need to eat their carrots, it was carrots killing their quarterly sales. the world's biggest soup maker brought down partly by a premature carrot harvest. campbell's fresh food business down 8%. biggest intra-day percentage loss in eight years. down 6.5% right at this very second. that's a loss of four bucks. up next, former fbi chair sheila baer telling me she thinks dodd-frank did go too far. she'll tell you which areas needlessly hurt the small bankers? we've got the medium small banker with his pulse on
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could ease reg burden on the smaller banks which were not drivers of the crisis to begin with, and at the same time make the rules more effective. liz: that's former fdic chair sheila bair on "wall street week" tonight at 8:00 p.m. eastern, i am hosting with gary kaminsky. she's fine with removing some of that load off the small and regional and community banks of the onerous rules. let's see what the chairman of midsize bank signature bank says. you guys got swept up into this regulatory nightmare as well, did you not? >> we did, and especially being a midsize bank, many of the rules that were applicable to jpmorgan and citibank were thrown upon us. liz: which is really ridiculous. it's funny, the road to hell is paved with good intentions, dodd-frank intentions were let's never have the crisis happen again. with one size fits all, you
were swept in and ensnared. what's the worst part of the ensnarement? >> first of all, everybody involved in crafting dodd-frank, all the democrats in the house and the senate side as well, thought there would be a second bite at the apple. they knew there were mistakes and thought they would fix it. what happened was senator kennedy passed away and the law became fossilized. no changes could be made. nobody in the world thought that a $50 billion bank ought to be regulated with the burdensome regulations with the international bank like a jpmorgan. liz: be clear, 50 billion for viewers, once the bank hits that, you are considered systemically possibly dangerous, you are held to bigger rules. i can only imagine that disincentivizes you to grow your bank to something bigger because you don't want to hit the threshold. tell me, you just came from washington, d.c. yesterday.
donald trump would like to help get rid of some of these regulations, how hopeful are you after talking to people, and i understand you got to talk to his big economics guy gary cohn. >> i would say the trump administration is supportive of lowering the barriers. they recognize that it doesn't make any sense to have midsize banks like ourselves not be able to make loans to small and medium size business. we're a $40 billion bank about but our average loan size is $5 million. we're lending money to job creators, not doing multibillion dollar international facility. i think it's important, and i think the administration, and i think there's a bipartisan consensus, i don't think it's even a republican or democratic divide anymore that we need to make midsize banks able to lend. liz: right, as i understand it, some had asked for 500 billion being the threshold but the
democrats would be okay with 200 billion or republicans, vice versa. liz: there's a great deal of debate what the number is. >> i would say everybody on all sides of the aisle would agree with 125. liz: you're happy that president trump is shining the spotlight on this and it will help you, and here's why it matters, folks, these guys, the small banks, the midsize, the communities, you're lending to the small businesses, to the farmers, right? >> we don't lend to a lot of farmers being in midtown manhattan. liz: your compatriots to first time homebuyers? >> yes. liz: how much are you lending? >> our small and medium size lending has grown by hundreds of millions of dollars a quarter. but the issue is, again, what happens when banks hit the 50 billion? if you're a big bank, you're thrilled that there's a 50 billion dollar barrier because you removed us as competition.
the best thing that happened to big banks and dodd-frank is saying a $50 billion bank like ourselves -- we're a $40 billion bank. we're not systemic to the four-block radius where we're sitting. liz: barney frank of dodd-frank sits on your board. are you mad at him? >> why am i mad at him? barney frank is one of the smartest guys you'd ever want to meet. liz: they didn't get this right. >> they thought there was going to be an opportunity to do fixes and that never happened. liz: well, listen, thank you very much. good to see you, scott shea of signature bank. see if we get movement out of the administration. looks like so far, please make sure to watch "wall street week," gary kaminsky and i, not only speaking with sheila bair at 8:00 p.m. eastern, we've got two brilliant stock pickers you have to hear where they say you should be putting your money now? closing bell 36 minutes away,
we are right now with blake burman, he's responsible once again for breaking major news at the white house, and no, not because his question to the president icited the ranting and raving response. it was the time line on taxes versus obamacare that was the real news. no fake news here. blake burman live from the white house when the "countdown to the closing bell" comes right back. great panther silver produced approximately 4 million ounces
of silver last year at their 2 mexican mines. their recent mine acquisition in peru, once fully operational, stands to increase their production up to 75 percent. great panther silver liz: we have news that might -- senator mitch mcconnell revealed that he and republicans will move ahead with reforming the u.s. tax system and obamacare, whether democrats want to help or not. listen. >> it is clear in the early
months it is going to be republicans-only exercise. we don't expect any democrat cooperation on rment of obamacare and don't expect any democratic cooperation on tax reform. liz: except that lawmakers are heading out on vacation next week. they will not return to captoll hill until the following week. blake burman standing by outside of the white house what he is learning with plans to get tax reform done. when you hear what he said about this. of course obamacare, sounds like they're ready with a timeline? reporter: the timeline is very clear, whether you talk to folks at the white hoist or capitol hill. the legislatively this has to work to simplify at at basic point, that obamacare has to get done first. at some point later this year they will get the tax reform package, some of it or all of it that president trump will roll out next couple weeks at that point. with obama care, the big
question, do they repeal and he replace all at once and repeal now and put the whole replacement package some point down the line? as you heard mitch mcconnell, for democrats it is wait and see moments at this point. take a listen to kathleen sebelius, former health and human services secretary under president obama. she appeared earlier on "mornings with maria." >> i'm interested in seeing what it is that the republicans in the house put forward, how it is scored by the cbo, and what it does to 20 million people who have health insurance now that they rely on and count on. i think that is the question. reporter: liz, when you talk about tax reform, once you get past obamacare, the questions are this, how much of president trump's plan gets in there? how much of house republicans plans get in there? one source i was talking on the
hill, they believe there is 80% similarities but something will have to give. congressman kevin brady who chairs the house ways and means committee, pushing the border adjustment tax, not sure if that is in or out. he spoke on fox business network on "after the bell." >> it is the issue of equal taxation and under our plan for the first time, there are not tax breaks for foreign products over made in america products. we'll lift our taxes off made in america products so they compete around the world on level playing field. this is how our competitors beat the heck out of our workers. reporter: so liz, lots of details clearly to work out. when you get into the timeline of this as president trump said yesterday in response to our question, obamacare first, tax reform second, hoping to get both done this year. liz: well either way we just lopped six points off the losses, blake. why not take credit. it's a friday. we're looking at slightly better than we were just as blake started this report, that says
that the republicans are going to go ahead with tax reform with or without the democrats. by the way, air rce one just having landed from charleston. the president coming off a very solid speech at boeing, in charleston, where he said he wanted, he wanted planes made by americans in america but more importantly, what jumped out to us as business network, he threw undo the gauntlet what appears to be a stealth fighter jet slugfest between lockheed martin and boeing. he unprompted brought up the f-18 made by boeing as he stood before a boeing passenger jet having nothing to do with the military jet. we've been watching that. in fact i am checking the stocks at the moment. lockheed martin is down. and we do have boeing higher. we are pretty much right at the highs of the session for the markets even though we're down about 29 points. we'll be right back with much more.
>> good afternoon. i'm lori rothman live on the floor of the new york stock exchange with this fox business brief. first let's look at samsung looking to avoid a disasterous recall. so they're adding a third battery supplier to the flagship smartphone, galaxy s 8. they will use lithium-ion packets from unit of sony along with long time suppliers. leaving a foul taste on investors tongs, dine equities plunged 10%. ceo will resign effective march 1st. lead board director richard doll will replacement for a replacement. search for replacement of roll of national security advisor continues. what national security issues for trump to tackle?
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talk to your doctor about januvia. liz: wheels down. president trump arrived at palm beach international airport in florida. as we await his exit from air force one, he will be spending the weekend in the sunshine state, heading to his state mar-a-lago, ahead of tomorrow's campaign-style rally in orlando. we will keep the shot up and keep dipping back into it but fox news is reporting that the president possibly this weekend could meet with some new contenders for national security advisor in that position. he could be doing that this weekend. we're putting up on the screen the names we hear may be among them. we have general joseph keith kellogg. he is currently acting secretary. general david petraeus, former cia. keith alexander, former nsa.
lt. general mcmaster, u.s. army and stephen hadley, former national security advisor. those are the ones in play. john hannah, national security advisor for the middle east for vice president cheney. sir, any one of those you're willing to stick your neck out on say they have got the lead? >> no, i can't. they all bring unique advantages to the table. i worked with several he have them. steve hadley, i worked with the bush administration, and he like brent scowcroft is the model how you want your national security advisor to operate that system to make sure the president gets the very best advice and options possible. liz: you know you're looking at a couple of days in the past. general flynn had to quickly resign and mishandling information an not talking to vice president pence the way donald tru ft was commensurate for his position. they offered the job to john
harward. he has hand-picked and no way, he said he didn't want it. how important to name somebody sooner rather than later, so it appears the administration has it all together? >> i think it is extreme ily important. this needs to be done as soon as possible. yesterday, in fact. because the president assemble an i had veriably valuable cabinet. there is so much gravitas there and they need a system in place to draw on the advice in a very systemic way because we are facing so many challenges, in terms of global rivals like china and russia to the immediate threats in north korea, iran, isis, radical islamic terrorism. we need to getthis process fully staffed up and running so the president gets very best team in place that he can. liz: as he has just gotten off of air force one, i'm glad you brought up all of those issues that are on the plate. we haven't even talked about the
boko haram and all of that nightmare what is going on in nigeria, but it is important i think when you talk about the gravitas, rex tillerson, who is of course the secretary of state, he has been at the g20 meeting in bonn, germany. this was his first moment to meet with sergey lavrov the foreign minister of russia and people are talking how that was a little bit awkward. you can almost understand why because rex tillerson does not have the people that he wanted, at least at the moment, underneath him, beneath him. so how important is that, that the person who gets these positions is able to bring in their own team? >> oh, it is absolutely key, liz. you're right, the secretary right now is basically home alone, other than a few close personal aides. so i think it is absolutely essential that he and the president, because these people ll be the loyalists to the president who will wake up every day thinking about implementing his foreign policy, not their
own. so it's key that he get those people in place. let me just say that i worked with rex tillerson for, i was exposed to him for several hours during the transition, he may be low-key and understated but he is real deal, a. jenna: win -- with real deep knowledge and going toe-to-toe with some. leaders in the world and including vladmir putin. quite successfully. i. liz: everyone on the same page, you had rex tillerson saying u.s. will work with russia when mutually beneficial. general mattis secretary of defense say, outright rejecting any collaboration with russia on military issues, and then on top of all of that you continue to have a few questions about nato, secretary of defense mattis saying we will stand with our nato partners. mike pence is in europe and he is going to apparently reassure jittery europe.
you also have others saying come on, start paying more for your defense or maybe we're going to retreat a bit on nato. >> right. i don't think those messages are necessarily inconsistent, liz. it all points toed need to get this very systemic where these guys from different agencies are getting together on weekly basis to coordinate not only strategy and policy options but messages that we're delivering to the world. when you get beyond all the turmoil of the past month look what the president has done, done a remarkably good job. the theme here he is tending to these critical alliance relationships, whether it is with great britain, japan, canada, israel. now the vice president going to europe to meet with europe's most important leader angela merkel and to reaffirm the transatlantic alliance with a lot of very skiddish nato
partners. so there is very positive movement here. liz: why it is dismaying to some when he has so many good things to discuss, the justin trudeau meeting with canada, what is going on with israel, and all of him with the union members. there are great narratives and gets a little bit derailed after a news conference yesterday where the fake news loop continues. john, thank you for your perspective. >> thank you, liz. liz: john hannah, foundation for defense of democracies senior counselor. closing bell 15 minutes away, speaking of fake news, that is real that the dow is down 25. that is actually the best levels of the day. president trump attacking one prominent member of the cable news community. that is only one way cnn is under fire from the center of d.c. power. charlie gasparino is coming down right now to talk about how the white house is actually turning up the heat. charlie is about to break it next. next on "countdown."
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♪ liz: about to use a technical term, skosh. the s&p turned positive by a skosh. right now -- >> stuck up. what are you? liz: just under record territory. the number to watch here is 2347. right now we're at 2347.68. we need, well, we're above it, okay? so we're watching it. we could have two records, the nasdaq and the s&p. we reported here on "countdown" yesterday that cnn president jeff zucker might have to resign as concession for president trump to approve the at&t-time warner megamerger. that was charlie's reporting. we have new details, trump's advisor and son-in-law, jared kushner, inserting himself into this story. charlie gasparino?
>> right, the journal reported today, right after our story, that jared, now an advisor, son-in-law but advisor to president trump, met with gary ginsberg, senior executive, used to work here. liz: he did, with fox. >> very capable pr guy and communications and does a lot of different things. met with him yesterday to discuss various issues. we are keeping this like obtuse, when we asked hope hicks, what do you mean by various issues? was cnn discussed? no, cnn wasn't discussed. was the time warner, at&t merger discussed which we know donald has spoke out against because of cnn? >> no, that wasn't discussed. so i'm not quite sure what they discussed other than cnn and merger. weather. liz: weather. food. chick-fil-a. >> chick-fil-a. that is the the word coming out of the trump white house. i will reiterate yesterday because other people are following it. this is right from people who
know donald trump. they say he has immense animosity to cnn i think that came out in yesterday's press conference. he has immense animosity for the head of cnn, jeff zucker. that also came out. he mentioned zucker by name during the press conference yesterday. and he has told people, and people that know him have said -- liz: do we have video of the press conference because there was interesting give-and-take between jim acosta and -- >> one of the cnn reporters, but he mentioned zucker. here what we hear from friends of donald, of president trump, he may ask to get this thing approved by his justice department and possibly his fcc, for concession spinning off cnn or possibly removal of zucker. liz: but it may never get to the fcc, at&t-time warner deal because it's a vertical merger. >> who knows. liz: it might not ever have -- >> ajit pai was on yesterday with trish. liz: he whiffed. >> he talked around it.
he didn't say one way or the other. it needs justice department approval. most deals do, right? maybe they will use a guise like, we think this is too much concentration of power. cnn, with 25% of the distribution out the ithe united states through at&t's various distribution outlet. we're not going to approve this deal and maybe the concession is, you get rid of cnn. or maybe the concession you get rid of zucker. people are talking about that within the trump orbit, literally getting rid of zucker as concession, spinning off cnn as a concession here. whether that happens or not remains to be seen but you know, listen, donald, i tell you one thing i loved the press conference yesterday. he is on a tear on the media and he is not going to stop. and he has a prime vehicle to screw one of his fiercest critics at cnn right now, and that is screwing with this deal. i'll tell you, brian schwartz,
my producer knows a lot of analysts, talking a lot of aplifts they say spinning off cnn would be bad for the deal. won't be good for the deal. liz: if cbs picks them up they may become more powerful. >> i don't know, you need distribution, man. liz: thank you, charlie gasparino. six months before the closing bell rings. we are looking at two records at the moment. you have got to stay with me to see if it happens on this friday. ♪ 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 by activating what's within me
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♪ liz: new records we're about to see them, s&p and nasdaq and the dow is 12 1/2 points away from a record with just minutes left to the closing bell. overall the markets set to close higher for the fourth straight week. let us bring in mark madsen. he says time for investors to look for a specific slice of this investment pie.
he's going to articulate that for you. mark madsen of madsen money. great to see you. we're about to see two more records. >> great to be with you. when you have records with the s&p and dow people are myopically focused on the bigger stocks and that is a mistake. since the crash of 2009 at the very bottom, you look forward to today, one of the highest performing categories, microcap, small value stocks. many investors don't have that in portfolio. it is up almost eight years, 21% year. most eninvestors miss the forest for the trees because they're looking at those big stocks. that is a big mistake. liz: we're looking at pie, two slices, oasis petroleum and convergys. one slice of that pie, small cap value. you need to define that for our viewers. if you're telling them to go go
to buy some of those names they need to know where to look for them. >> small cap value stocks they have a big book value and lot of assets but they're at a small price. they have very high cost of cappal. i always tell investors n't get caught tryg to pick individu stockor tryinto time the market. there is 1100 stocks in that pores of our portfolio alone. investors think you have to only hit one or two top top ones. that is not true. if you had the sector as a whole you would have diversified your portfolio. most investors miss it. liz: mark, with just about 20 seconds left do you worry about a correction anymore significance than 5% coming up? >> look here is how you protect yourself from a correction. i'm always worried about a correction because you never know when it will come. to the extent you can't take full market risk, by short term high quality income. then some -- liz: have to interrupt you. the dow just turned positive.
oh, it is straddling the line. mark madsen, energy must have brought us there as we hit the closing bell. [closing bell rings] it is too close to call for the dow. nasdaq definitely a record and s&p. david asman and cheryl casone pick it up on this friday after the bell. cheryl: dow going positive. david: before it went negative. cheryl: up two points right now. we're trying for a comeback. hopefully we get it on this friday. dow ending well off the lows for the day. alas that 6-day record streak may be in play. david: unbelievable. cheryl: s&p 500 turning positive in last hour, with new high. nasdaq got it in hand there. nasdaq another brand new record. cheryl casone in for melissa francis. never a boring friday. david: good to have you here. impossible to keep the marke