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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 22, 2017 3:00pm-4:01pm EST

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competition. and you know why? because we're bringing you the stories every single day that matter to you. we understand the cross-section between the economy and politics and the policies that are going to have a big effect you on. so cheers! thank you very much for watching, and again another ratings win, send it over to my friend liz. liz: i don't have a champagne glass, i have a cup. cheers to you. it feels great. fox figured out the zeitgeist of money and the politics. speaking of money, they say cats have nine lives, the bulls might have nine too. in this hour, we could witness the ninth record close in a row for the blue chips. right now the dow is up 11 points. i need to tell you we've got a live camera focused on cannonball, north dakota, 3:00 p.m. eastern, 2:00 p.m. north dakota time, we have reports that protesters at the dakota
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access pipeline are refusing to leave even though right now the 3:00 p.m. final deadline to vacate has passed. that video you saw is fire. there is a fire currently going on, and we're waiting to find you the what's going on there? what officials are going to do, and why negotiations broke down hours ago. william la jeunesse live on the scene to tell us who's burning the protest camps. the trump administration dealing with deeper questions in the wake of yesterday's decision to vastly expand the president's crackdown on the illegal immigration. deporting criminals, he said, is the priority, but what about the so-called dreamers? it all comes as secretary of state rex tillerson is headed at this moment for his first meeting with the president of mexico. trump immigration adviser and kansas secretary of state chris kobac wrote many of the toughest immigration laws in the country. he'll be here live to tell us if the president has it right as he appears to be leaning
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toward letting dreamers stay. on wall street, march madness, that might jack up interest rates and mortgage rates. the fed gave a huge hint whether it will hike rates at the march meeting. can the dow hold on through the gains of the march jitters? plus why corn farmers are worried about the wall, and charlie breaks it on breitbart news and the alt-right. thes than an hour to the closing bell. record number nine for the dow? i don't know. stay with me. let's start the "countdown." breaking news -- could a rate hike be coming in just 16 days? that's what the minutes from the latest federal reserve meeting heavily hinted at. janet yellen and company made it quite clear and we quote that they could raise as soon as march 15th. so look at the dow intra-day chart. the blue chip index just as it was announced for the minutes for the recent meeting was up about 33 points.
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you see the dip there. a slight recovery at the moment, nowhere near 33 points to the upside. we've got it up 12 for the dow industrials, pushing higher nonetheless, no matter what gain, even if a tiny percentage, a nanopoint no less, it will be the ninth record in a row. nine straight days of records, the longest streak since january 20th. way back in 1987 when it went 12 straight days of record closes, but we didn't know what happened a few months later. the crash of '87. the dow isn't the only thing hitting records. trio of bellwethers continue run into positive territory. apple, facebook hitting intra-day, all-time record highs. apple pulling back fractionally, same with amazon. facebook up 1.75%. cruising to the top of the
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index norwegian crews lines. book the cruise. shares are moving higher 7%. the stock is expect to close at highest since last april. shares are up 10% month to date alone. team fox business has the breaking news covered. cannonball north dakota situation, it is tense at this hour. william la jeunesse at the standoff between the pipeline protesters and the authorities who say deadline has passed, you've got to go. blake burman hopped out of the spicer daily briefing at the white house. where saving taxpayer dollars was topic number one, and adam shapiro whether the dow can cling to gains considering the fed stepped on the dow's fingers. to this breaking news, is the deadline going to be the deadline. moments ago, 3:00 p.m. eastern was the deadline for hundreds of activist to vacate the area or face arrest.
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let's get right to it, despite a court order, they're still cling, this is energy transfer partners, the group building the pipeline can complete the final stretch and pumping oil as soon as two weeks from now? take a look at pipeline stocks, all down right now. william la jeunesse in the middle of the ashgsz cannonball, north dakota. william, show us and tell us what's happening. we saw there was a fire at one of the camps. we're five minutes past the deadline. >> reporter: several things, to explain the fires, the protesters setting the structures on fire rather than having them bulldozed and taken out by dump truck or the state or other cleanup crews and consider it a ceremonial effort rather than have them taken down by police. but you can see behind me so officers here and beyond the barricades another 100, 150 officers there, and the arrest was supposed to take place as you said at 2:00 p.m., but about 30 minutes ago, the
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protesters left en masse back south of where i'm at onto the indian reservation. i'm here on federal land. the county does have the authority to make the arrest as well as the floodplain where the teepees and tents are that you saw by the tens of thousands, really, several months ago, they have vacated for the most part that prompt some of the structures on fire and turned onto the reservation and do not look like they are going tolingly get in the buses as had been planned. the governor declared this a public health hazard area because of the basically the campsite, three of them were in the floodplain and you had abandon cars and propane and kerosene heaters, food, clothing and human waste and supposed to leave by 2:00 p.m., and the state greed, liz, this is interesting, to have amnesty bus, that was supposed to pull up to where i'm at and
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the people would voluntarily get on the bus, get a voucher for a votel room and then a bus to get anywhere in the united states. they obviously did not show up, and then others who wanted to be arrested basically get their picture on the facebook page, tell grand kids, that kind of thing, they also did not show up to the arrest. and so liz, i'm going to tell you things are changing here as we speak, the media is limited because of where it was supposed to take place. i should have more for you in about an hour. liz: listen, interrupt us, we'll take you if there is any news on this, william. appreciate it. >> you bet. liz: to the white house where the president's lunch was served with federal budget talk. meeting to talk turkey, the kind of turkey that involves the federal budget. he calls it a mess inherited from the previous administration and the president joined by u.s. treasury secretary steve mnuchin said no more weight
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wasted money, we have a moral duty to do more with less. fox business' blake burman just left sean spicer's white house briefing which came right after the president made those comments, and blake, look, we as a business network need clarity how he will do more with less when he's talked about ramping up defense spending and not touching social security and medicare? >> you're right, talked about ramping up not only defense spending, liz, but infrastructure spending and the tax cuts, that is spending, spending, spending, and then-candidate trump when he was campaigning across the country said he would not cut entitlements, so, of course, the question is how are you going to pay for so many of these things but leave entitlements alone? today there was a major meeting, a couple of them at the white house, one still ongoing and another one this afternoon as it relates to the budget and the president talked about keeping things lean. he said he's got the best in the business who would be able
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to write the budget folks, he's known for years, and equated it to a moral issue. listen to president trump from earlier today. >> our moral duty to the taxpayer requires us to make our government leaner and more accountable. we must do a lot more with less, and we must stop the improper payments and the abuses, negotiate better prices and look for every last dollar of saving. >> reporter: liz, the white house press secretary sean spicer was asked what are the priorities for the president in this budget? and spicer would not get ahead of the president on this one, saying this is still being worked on. he gave a time frame. a rough time frame of about march 13th-ish, as he put it. a few more weeks here. spicer staying is going to go obamacare first, tax cuts second, and in the middle of
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this, you have the budget unveiled we're expecting in a few weeks, liz. liz: that might disappoint the markets but the markets are holding on for the dow jones industrials, but there is the pavlovian dog, every time he mentions the markets, boom, the markets go up. not so much today. guess what else is having an impact on the markets? the federal reserve minutes released an hour ago. don't let your eyes glaze over, i continue sounds boring. this stuff moves the market. will we have a march rate hike? well, right now it doesn't appear to be that way, even though janet yellen and company emphasize we could raise as soon as march 15th. just a 17% chance right now being priced in that we would see that. however, if you flip it over to may, which is then the next one after march. that chance is at 49%. june, 72%. there's a 72% chance priced in
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that we will see a june rate hike. okay. adam shapiro to the new york stock exchange. you know, the markets took a little dip there, nothintoo dramatic, what's moving this market, what's in the psychology now? >> you know, it's a great question to ask, you see peter tuchman behind me. depends which trader, which broker you are asking about, what kind of impact the fed minutes had. and a lot of them said before i spoke to peter that no big deal. peter pointed out that we had the sell-off at 2:00 and you look at fed minutes, we're going to get according to the fed still interest rate increase, perhaps three of them this year. while most people were expect second half of the year as peter pointed out, looking like two, three weeks, march. the other issue that peter pointed out is one of the reasons we saw the sell-off, a bit of indecision from the fed, because they won't make it definitive until they finally do it. liz? liz: thank you very much, adam
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shapiro. with the closing bell about 49 minutes away, did you see this? elon musk's spacex nailed the booster landing sunday, touching off a celebration at the kennedy space center. there it goes. watch this. it is kind of a cool thing of beauty of reusable rocket. he wants to be the walmart of rockets. cheaper, reuse them, no problem. yeah, right? but hold the tang, today's talking with the international space station might have mission control reaching for the tums. the dragon capsule, did it dock? we'll show you. what is going on at standing rock this second in the judge ordered protesters to close up camp at the dakota access pipeline. energy transfer partners is ready to get the crude flowing, but now there is still a problem. the protesters have set the camps on fire. american petroleum institute
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ceo jeff girard is here on how much the flow, if it gets finished and going will add to the markets and what might be the fallout? "countdown" coming right back.
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the docking, not so much. no scenes like this one this morning. what are you looking at here? this is the dragon capsule that supplies ships and it rendezvouses with the international space station but had to be scrubbed due to a gps issue. you know, little, little quirk or twerk -- not twerk. different word, quirk. the company says they'll try again tomorrow, they were celebrating because the landing was pretty awesome for the reusable booster market. we are watching the stock at the moment. down just 1%. this is tesla. the other company that elon musk runs, why are we watching it? coming out with earnings after the bell. we're going to be looking for all kinds of numbers on this. what are the delivery numbers? what about the solarcity growth? this is a company that has shown an epic disrupter ability. they're breaking and changing every outdated industry rule. david and melissa -- cheryl and
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melissa will have the numbers. cheryl and david. my goodness. hi, melissa. it is still not clear whether the all-clear sign has been given to finish the dakota access pipeline. breaking news, we know, we're told by william la jeunesse it is the protesters who set the camps on fire in order to avoid having them be bulldozed by the officials who said you got to get out. get out of the encampment. they have been protesting this for a whole bunch of reasons, environmental and, of course, the fact that they are the sioux tribe and different areas that matter to them. it will aid the surge in u.s. production by 8.9 million barrels every single day. that's according to the latest numbers from the eia. what does that mean for energy markets in the economy and jobs? jeff girard, ceo of the
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american petroleum institute. take this one chunk at a time. good to see you. >> good to see you. >> that's a lot, 8.9 million barrels added into already overflowing domestic output situation we have here. what does that do to prices? i would think it would lower prices. >> well, when you look at the supply demand equation of the united states, it's quite remarkable what's occurred. we hit our high point in 2015 with 9.6 million barrels a day of production. that dropped back to 8.4 last year when the market declined. however, we're back up over the 8 in the range you're talking about today. we're coming back online, we have more drill rigs back into the market place. a positive sign not only for job creation additional production, because we're putting people to work, as the demand side comes back and we hope in the emerging markets they're able to meet gdp growth, that the united states will become a big supplier not
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only domestically but across the world. this is really a game-changer. liz: let me tell you about, that i'm glad you said the emerging command side. u.s. consumption of gasoline at 15 year lows, we're not using as much. we have the worst gasoline glut in 20 years. we have to depend on other countries wanting to buy our product but don't we have to get infrastructure in place to ship it out such as lng, liquid natural gas, things like that? >> absolutely, liz. that is important to focus with potential for lng export, crude oil exports, the united states is positioned to become the epicenter of energy power around the world, and if we'll stay focused and won't put undue necessary burdens on domestic activity, we can protect the environment, protect our workforce and yet at the same time begin to supply domestic and the world, now we're creating american
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jobs to do it, it's a great opportunity. we need to focus on the infrastructure question. the dakota access pipeline is one example. the keystone xl pipeline, we need to most product to the marketplace, particularly to world class refiners right here in the united states who are at record levels of refining capacity and able to export finished product as well as the crude product. liz: this is a $3.8 billion project. the last leg of 1,170 mile pipeline is supposed to get going. we're seeing a little movement at the area where they have had the protesters there. let's talk about the jobs, 2,000 to 4,000 temporary jobs putting together the pipeline, and the numbers are fluctuating but about 12-15 people to maintain it. you argue of course all construction jobs are temporary. i'm looking at midtown manhattan, once a building is done, people move on.
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>> absolutely. liz: so the president's view that he wants these built with u.s. steel and u.s. workers. how realistic is this? you've been in this business a long time. don't the pipeline guys want to use the least expensive steel, and is that from the united states? . >> let me address the first point about the temporary workforce, i think this is important. some of our critics decided they're just temporary jobs so shouldn't be focused on these. the organized labor guys we work with, every one of their jobs is a temporary job. the white house was built by a temporary job if you will, and everything we do in the construction world is temporary by its very nature. so we shouldn't diminish the opportunity for these well-paying jobs to build this pipeline, to build the infrastructure, to build this new refinery capacity we need and have here domestically that allows us to work in a global scale. all of that coming together, we need to be mindful as the president talks about, he talks
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about america first. he's going in the right direction in terms of saying, you know what? we can free up energy sector to become dominant in the global marketplace. that's what we welcome bat president. we look forward to working with him on that agenda. liz: listen, it's great to have you, jack. >> good to talk to you, liz, as always. liz: that video was taken within the last hour or so there in cannonball where they are moving and shifting, they have not entirely vacated. they have burned down their own camps that have been in place for the past couple of months. closing bell 37 minutes away. intel and exxonmobil and chevron. those are the names that are under pressure at this point, but du pont surging way ahead at the dow 30. gaining $2.65. european union regulators known
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to be very tough about mergers are apparently set to clear the $130 billion megamerger according to sources close to the negotiation, after the two companies made concessions to avoid monopoly worries. now look at the shares. both are jumping, du pont better by 3.5%. dow chemical up nearly 4%. by the way, those are all-time highs. first avocados, now another unintended consequence of building a u.s.-mexico wall is popping up. jeff flock, a kernel of truth that could pit farmers against the president they volted for? >> reporter: you betcha liz. you want to trade war? bring it on. you may get stuck with all this corn. i will explain. corn wars. when we come back.
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liz: mexico says if the u.s. wants a trained war, it has ammunition too it. the country is ready to it had the u.s. right in the belt as in the corn belt. so let me just give you some texture here. mexico has been buying nearly all of its imported corn from the night. that accounts for $2.5 billion worth of business for our farmers. last week our nafta partner fired the first warning shot, sending the agriculture minister to wheel and deal with brazil and argentina in case it has to cut ties with the united states. looking at corn futures on the cme. they have been dropping. they're up half a percent. over the past week as rhetoric ramped up, makes people wonder should we be getting out of corn? will there be a glut? we sent jeff flock to maple
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hurst farms in illinois, how this could affect farmers in corn country. i guess many are supporters of the president. reporter: absolutely huge support for e in the corn belt for president trump but jim mccormick, an analyst at allendale, some ways the formers rooting against themselves because they depend on overseas trade. we're looking at court getting loaded in an overhead bin. what is the surplus? we talk about the negative trade balance in the world. agriculture really contributes to a positive trade surplus? >> that is correct. we had a $28 billion trade surplus. mexico is biggest importer of our ag exports. if we have a war with mexico it will impact the export numbers. >> almost a third of the u.s. crop. partly because there is free-trade agreement. nafta, farmers are big supporters of nafta. were big support es of tpp?
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>> yes they were. pretty much agriculture really gain ad huge amount of economic benefit from all the trade deals we've done over the years. reporter: quickly the senator from mexico proposing a bill, liz, time to how to shift the place where we put our money, if we stop buying their corn, the u.s. would have a good idea of just how important mexico is. i want to end, jim, with a question. can they do that? will they do that? do they have the ability to buy from south america to cut out u.s. farmer? >> they could do that. right now there is economic advantage to import from the u.s. by 10 to $15 a ton. if we get into trade war, slap import penalties. reporter: corn wars, not good for anybody. american product on its way to places like mexico, and around the world. dusty on the farm. beautiful day though. liz: we saw william la jeunesse in north dakota getting pelted by snow.
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reporter: i dodged that bullet. liz: for once. jeff florke what could be a -- flock on what could be a corn war. 29 minutes away. dow jones industrials up 34 points. the president reworked immigration order. in the wake of that we heard this multiple times over the last 3hours from his press secretary. listen. >> the message from this white house and the dhs that those people in this country, and pose to a threat to our public safety or committed a crime will be the first to go. liz: the first to go. who will be the second to go? we'll ask trump immigration advisor and kansas secretary of state kris kobach, the question about advocates and opponents of the president's plan. don't go away. when you have something you love,
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liz: if you could witness a record here, the dow was still up 30. illegal immigrants have been put on notice. the day after tomorrow, president donald trump is expected to sign his new executive order on immigration. this as i.c.e. officers raid to root out illegal immigrants specifically those who have committed crimes in the united states. but the president so far is taking a bit of a softer tone regarding the so-called dreamers, immigrants who were brought over illegally as children. at this moment u.s. secretary of state tillerson is on way to mexico for the a meeting with the country's president, enrique pena nieto. tomorrow they will surely talk about the hot button issue of immigration breeding tension between the u.s. and mexico. joining us is the man who written and defended some of the toughest and most controversial immigration bills in front.
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supreme court in addition to advising president trump on these matters, kansas secretary of state kris kobach. welcome, sir. thank you for joining us. >> great to be with you. liz: all we herd -- herd from the new order he is about to sign the first to go will be illegal immigrant who have committed crimes or who intend to do us harm or have shown the intent to do is harm. nobody, i would hope argue with that because if you're here illegally anyway, you commit a crime, you're abusing the hospitality of the united states. but the obvious question then becomes, when they say they're the first to go, who is the second to go, mr. kobach. >> one of the things we have to start with means, committed a crime. one of the things the obama administration did, a criminal only someone who has actually been convicted of a higher-level crime. what the trump administration is doing which is very important and very wise they're saying look, you can be a criminal if
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you have been charged with a crime or the i.c.e. officer has observed you committing the crime. in some cases i know one outrageous case during the obama administration where the i.c.e. officer himself was assaulted by the criminal illegal alien. he wasn't yet convicted. liz: those two fall into the first to go. i don't know about you, i am absolutely fine with that i look at that you're here illegally, follow our laws or out. >> right. liz: who's the second to to? that is what people want to know? is it the person who has been driving, a dreamer, who gets pulled over and found to be an illegal immigrant? they're not clear on who is the second to go? who should be second to go? >> you can find clues in the department of homeland security orders that came down. there is no longer catch-and-release. so the department of homeland security wilner its energy going after known criminals. say they go to arrest two known
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criminal illegal aliens doing other crimes as well? and they discover two other illegal aliens. now four people in the room. those two other illegal aliens have not yet been convicted or arrested for other crimes but maybe members of the same gang. those individuals are not going to have a get-out-of-jail-free card. those individuals are subject to removal nowhere previously underthe obama administration, anybody who had independent yet committed another crime in the united states was pretty much hands off. it was catch-and-release. see you later. so i think if you look at -- liz: i'm getting to the dreamers. >> this is new implementation memo. liz: i'm getting to the dreamers. donald trump said we'll show great heart. daca is very, very difficult subject for me, i will tell you. he is said we'll show some heart. he is "family guy." look, you have got five children. you're a familyguy. we have four children in our family. dick durbin of illinois says to boot groomers would be anti-family. donald trump looks to have a
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soft spot there? does that an know you, you have advised him and you are very tough on immigrant? >> so let's make one thing. the orders that just came down yesterday from dhs, they sort of pushed dreamers aside. they exempt dreamers and dreamers are people who alleged that they came to the united states before the age of 16 and could be up to 3, up to 31 years of age. liz: would you like to see them go in somebody catches them on the street doing nothing? >> you know, i do think that they are, they should be subject to deportation. the argument, these are children. no, they're not. they are people who claim they entered the united states many many years ago before the age of 16. argument is separate a family. there is no family. these people are adults or in their 30s or 20s. then the argument is made, maybe you shouldn't punish children for the sins of parents. but you shouldn't rewarded the children for sins of parent. that is what we're doing.
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liz: we're running out time, i appreciate you looking into this. ronald reagan with his debate with walter mondale. he put forth amnesty program where three million illegal immigrants living in the u.s. got to stay, they came forward. he said i believe the idea of amnesty for those that put down roots and lived here even though sometime back they may have entered illegally. are you against ronald reagan in what he did back then? >> ronald reagan also came back later and said that that was a mistake. that the amnesty should not have been signed. and so, with time, so his wisdom grew on that subject. i think another amnesty will be just another mistake. liz: chris, lovely to have you. thank you very much. we'll be watching this situation very closely. kris kobach, kansas's secretary of state. we have the closing bell, 18 minutes away. you saw him live yesterday in this hour on "countdown to the closing bell." convservative journalist milo
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yiannopoulos resigning, apologizing, resigning that long-time position at "breitbart news" in the wake of just a very, very horrific scandal. charlie gasparino has exclusive details why milo's former employer could be in for more changes in the wake of this situation. be sure to tune into "mornings with maria" tomorrow morning, maria bartiromo will speak with the new treasury secretary steve mnuchin in the 8:00 a.m. countdown coming right back. you realize 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.
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i would imagine, hillary, there's a real problem with travel too in los angeles? reporter: yeah, that's right. not in los angeles but san francisco, a lot of flights canceled. but meteorologists are calling it the flood of the century in northern california as the atmospheric river continues to drown communities. san jose city officials are asking 50,000 people to evacuate their homes today. 14,000 of those residents in san jose are under mandatory evacuations. fire captain mitch matlow calls it the worst flooding and water rescue he has been involved in. 200 residents were rescued after floodwaters surged through a san jose neighborhood, completely submerging houses in water. resident had no warning with coyote creek was overflowing and san jose's mayor says the city needed to do more to get the
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word out before disaster strike. anytime we're showing up to in boats to get people out of their homes there has been a big failure. here is what caused overflow. heavy rain filled anderson reservoir breached wall and poured into the creek below, prompted the massive floods. no word when people are getting back into their home. now they're just trying to get people out. liz. liz: hilly vaughn, as a calfornian you're thrilled to see any cain of rain this is unbelievable. san jose mayor is going to join david and cheryl next hour to talk about the extreme weather hillary showed you that is ravaging my home state. breaking news out of viacom. it was well-telegraphed but now chairman and ceo practiced gray is forced to step down. he will remain with the country in the transition period, as viacom which had massive
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upheaval over the past year, starts its search for a new chief. shares are moving wer by half a percent. the problem was there were movie business issues. they didn't do great box office but they have a huge number of oscar nominations. so i guess owe couldn't win. okay, now, this person milo yiannopoulos, who has been associated with far right-wing politics and the alt-right movement may have attract a lot of viewers but as "breitbart news" has found out, it does not necessarily attract advertising dollars. charlie gasparino is here on the business changes, rather immediate and breaking at "breitbart news" that helped spur the recent resignation of its controversial columnist. >> "breitbart" was once known as the news out let for the alt-right. steve bannon who was head of "breitbart" at the time, now senior advisor to president trump, said, i don't think he understood what that really meant.
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the alt-right is a far-right fringe organization but the people at "breitbart," who are there now understand it and they understand it in terms of flowing ad revenue or maybe nonexistent or barely-existent ad revenue even though the cite gets a lot of eyeballs. from what we understand, sources at "breitbart" are telling us, particularly after the ouster of milo, we don't need to go about what he said and why he said it. liz: we kind of do. people who tuned in today who had been out of town and didn't know. but it had to do with comment where very much appeared to be fine with -- >> intergenerational sex. liz: man-boy love, okay? children with older men. >> intergenerational sex. not pre but post-pubescent. liz: who cares? >> i'm not condoning it. in his defense, this is what he said. it is disgusting.
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i got it. >> every advertiser would flee from that. >> they were pleaing anyway, just so you know. that was the final straw. what we have here i believe, even though milo gave them a lot of traffic and publicity, they were at a point right now where guess what? they weren't going to make any money. here is what we know. they are moving to become a much more mainstream news outlet. they believe, and this is interesting, because this is striking a sort of cultural change at "breitbart" which was the avatar of the far-right post-andrew "breitbart." andrew bre etf art was not a far-right leader. they're looking to become a much more mainstream news publication. they will still be in favor of donald trump. they were hugely -- liz: you can be in favor of donald trump and make lots of money. >> i think they will become much more mainstream but not overtly.
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from what i understand they want to do stories. they want to do reporting, some interesting commentary. they have hired john carney who used to work at "the wall street journal." they have hired people from "the hill." "real clear politics." they have hired people recently from the more mainstream publications. i used to deal with a guy named mike flynn, he is still there. one. better reporters. liz: giving them a little more ballast. >> the focus of "breitbart" will move away from the right-wing stuff to more mainstream issue. we should point out i emailed "breitbart"'s spokesman for a comment. he did not get back to me. i will say this i'm a journalist. i think the reason why when you and i -- you're a journalist, when we talk about stocks and when we talk about issues, why we move markets and stocks, guess why? i may have a political view. you may have a political view but at bottom we are professionals, and our profession is journalism. we break news.
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we try to tell the truth. we can have opinions. liz: we're now number one business network. >> we are. that is the lesson from "breitbart." if you go over-opinionated, if become an outlet for any movement, you will suffer in ratings and by the way, in my view you should suffer. liz: charlie, thank you very much. >> okay. liz: charlie gasparino who has been ahead on this story out front. we're six minutes away from the closing bell. right there on your screen that could be number nine. ninth record in a row for the dow jones industrials up 29 points. nasdaq and s&p not there now. down very slightly. we'll come right back. please don't go away. at angie's list, we believe there are certain things you can count on, like a tired dog is a good dog.
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♪ liz: hold on a second i have breaking news coming out of treasury secretary steve mnuchin strong dollar is strength
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compared to the rest of the world. he is saying recent dollar strength reflects confidence in the u.s. economy and he says the appreciation of the dollar is a good thing longer term. why is that significant? i want to bring in pat patrick kasar. we were going to talk about how old the bull market is. it is nine. donald trump says the dollar is way too strong and a problem. now his treasury secretary said what every treasury secretary before said, go for the strong dollar. >> that is a problem with an adnistration arguing for a strong dollar and weaker dollar, that confuses the market. when you look at fed minutes came out 2:00 this afternoon. that is one of the concerns they had about raising rates, that the dollar gets too strong. a statement like you just said can be pretty perplexing
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introducing uncertainty in the markets. i'm not a big fan of it. we believe the rates should go up. the dollar is gone up enough and u.s. exporters need a weaker dollar. liz: steve mnuchin by the way will be on fox business tomorrow morning with maria bartiromo? does that change your picks at all? you like some of the big banks and general motors which sells product overseas? >> yeah. so, with everything, as with everything depends what the details are, what the policies will be around it. for gm it really doesn't change our view as a top pick. it is a very cheap stock. it is much more important than what happened with trade policy there. when it comes to big banks, citigroup we believe trading below tangible book value is a very cheap stock but certainly one of the many catalysts we see there, higher interest rates, stronger dollar definitely damages that catalyst. liz: patrick, you get the confetti day. this is the ninth close at record highs in a roy.
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patpatrick kaisar from brandywi. here is the closing bell. melissa francis and david asman for the "countdown to the closing bell." cheryl, i'm sorry. cheryl: thanks, liz, this is history. history on wall street. managing to eke out north record close, the ninth in a row, the longest streak of records in more than 30 years. not for the s&p and nasdaq. looking good. we like this down number. i'm melissa francis. david: one out of three ain't bad. we have you red wi big market movers. here is what else we have for you at this hour. president trump holding a strategy session with the white house, after making strong comments about the state of our budget, saying our finances are really just a mess. what he plans to do about it coming up.


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