good to see you. >> thank you very much. trish: we're coming up on the end of 44 points on the dow. a very, very busy newsday with things breaking left and right. liz claman is going to take you into the final hour of trading. we'll see if we close at yet another record, liz. liz: the dow was there, but you're right about breaking news. we just got this: president trump has just declared the state of california a major disaster area. look at these flames. a deadly inferno is engulfing california's wine country at this hour and spreading. thousands trying to escape its flames as one of the golden state's biggest export businesses is under assault. hillary vaughan is there. she's going to report live on the lost life, home, and business. and we're also going to talk to the ceo of jordan winery about how his business and staff are surviving the flames. just barely, by the way. many of them have lost their homes already. these flames have torched more than 115,000 acres. and while california burns hot, so does the controversy

over the iran nuclear deal. fox news reporting president trump will not recertify that deal later this week. blake burman live from the white house. we're going to ask also dick cheney's former middle east adviser whether no deal is really better than a bad deal? and tax reform, well, we knew that would be complicated. but rumbling inside the beltway at this hour that reform might be too complicated. will congress simply resort to simple tax cuts? forget the reforms? really? representative tom reed, republican of new york on whether the gop will cry uncle on real reform. on wall street, as carly simon would say, anticipation. here comes third quarter he didn't season. we're less than an hour to the closing bell on this 10th anniversary of the launch of the fox business network. let's start the countdown. ♪ ♪

. liz: and we do have this breaking news. at any moment, we're expecting president trump to welcome stanley cup champions pittsburgh penguins. the team about to be honored at the white house. we do have our eyes on this event. just as the president hits not the nhl but the nfl, the national football league with a tax threat. more on that in just a moment. in the meantime, take a look at the dow. going for another record close. now, we're there already. 22,807, we are definitely comfortable here because the record it needs to hit is 22,775. anywhere above that will mark the 64th record close since election day. s&p 500, nasdaq, they're kind of retreating at this hour. the s&p is still in the green but had been considerably higher. both had hit earlier all-time highs. to a stock many of you do hold in your portfolio, procter & gamble. p& g's long battle with activist investor has finally

reached a climax. note i did not say conclusion. company shareholders voted today to keep all of its current members on the board. thus rejecting triumph's chief for a seat at the table. p& g is the largest company ever to bring something like this to a vote. procter & gamble one of the worst performers on the dow. down 1%. which isn't that bad, by the way. it's just 91 cents for a $1 stock. but he says he will contest this vote. he feels it was a close vote. to california in the deadliest wildfires in the state's history. still burning completely out of control. what they're doing now is bringing in hundreds of firefighters and police across the state from now to nevada. they are heading straight into the danger at this hour. 13 people have been killed by the deadly flames. 20,000 people have been ordered to evacuate. 1,500 homes and businesses have been destroyed.

you name it, it's going up in flames. california's wine country as well. one of the biggest industries in the golden state getting torched by the fires. to napa valley and hillary vaughan who is at the napa fairgrounds. hillary. >> liz, this is kind of the nexus where all of these fire departments that are responding from across the state are coming if and filling up with supplies and going and fighting the fires. because as of last night, they said they were at 0% came the, and we're hoping they've made progress throughout the day. they're setting up tents because a lot of the firefighters are working overnight shifts, around the clock trying to fight these fires. and over here, you can see there's a giant field. there were dozens of large fire trucks parked here. they all went out, filled up with supplies, and responded. so now, we're hoping to get an update from them when they return. but right now, california is already -- when it comes to wildfires, it has already cost this state $2 billion. it has been the most expensive

season on record. that's not including the fires now blazing through wine country today. industry analysts expect this fire to have a ripple effect on both the vines and also this tourists that have come to this area. tourism to napa is a big moneymaker for wineries and the country. last year alone, 3.5 million people came to napa and generated about $1.8 million in revenue. replacing a single acre can cost as much as $25,000 for a vineyard. there's more than 100,000 acres of grapes in sonoma and napa valleys. and more are vulnerable and have been impacted by these fires. as you mention, 13 people we know of have died. at least 100 have been reported missing. and the california highway patrol has used helicopters to airlift at least 40 people from vineyards.

a lot of them workers that weren't able to get out in time, liz. but the good news here that most of the grapes have been picked. we did talk to homeowners that surveyed their neighborhoods. here's what they described, what they saw. >> a lot of smoke. a lot of ash, and a lot of -- unfortunately, a lot of chimneys, refrigerators, washers, and dryers that are still standing, and that's about it. >> it's like a bomb had gone off. it's worse than the fire. there's just nothing left in my entire neighborhood. i mean, my house survived, my barn burned. but my neighbors, their houses are gone. >> liz, a lot of people not able to get back into their home and even survey the damage. back to you. liz: hillary, be careful. you know, the smoke does travel. i'm sure you and the crew do not feel wonderful at this moment, so please be careful.

just a few minutes, by the way, we're getting john jordan in the chair. he's the ceo of jordan winery. six of his employees have already lost their homes. we'll get the updates from me from him. in the meantime, constellation has very large wine operation in the region, you can see the stock is down about a half of a percent right now. we are also, as we mentioned keeping an eye on the east room of the white house where president trump is about to honor the stanley cup champions, the pittsburgh penguins. while the hockey champions are on hand, it has not been all fun and hat tricks around the oval office today. president trump meeting with henry, former secretary of state under richard knocks onas news breaks that the commander-in-chief will not recertify that iran nuclear deal. what does that mean? well, blake burman just rushed to our cameras following the white house daily press briefing where i know sarah sanders had mentioned this and gone into some bit of a detail here. >> yeah. the president not expected to recertify the iran deal. what this does, liz, is now

put the onus in the hands of congress and what they may or may not do legislatively with the deal over the next 90 days. this was obviously a major campaign promise by the president saying that he feels this is one of the worst deals that has ever been put together. and now, at least from his point of view now, he is somewhat moving the u.s. away from the certification process. but not necessarily pulling the u.s. entirely out of the deal. still some work here to be done now that it's in the hands of congress for the next few months. the press briefing, as you mentioned, wrapped up a little while ago. and much of it, or at least a lot of it, dealt with the back and forth between the president and bob corker. the latest coming from the president. firing yet another shot at the republican senator's comments about the president earlier today in which president trump said, and i quote here, he said that the failing new york times set little bob corker up by recording his conversation was made to sound a fool, and that's what i'm dealing with.

now, the president was asked about corker's comments earlier today. that he is potentially setting this country up for world war iii. and the president pushed back on that notion. >> we were on the wrong path before. all you have to do is take a look. if you look over the last 25 years through numerous administrations, we were on a path to a very big problem. a problem like this world has never seen. we're on the right path right now. believe me. >> sanders said that corker is entitled to his own opinions but not entitled to his own facts and tried to position corker as someone who rolled out the red carpet for the iran nuclear deal. issue number two here, and this one's been a talker, liz. in an interview that the president gave by forbes that was published by forbes earlier this morning and there is a pretty interesting line there as it relates to rex tillerson. you know the story that nbc news put out that tillerson had called the president earlier this year a quote moron and the president was asked about it. and he said quote i think it's

fake news. but if he did that, i guess we'll have to compare iq tests. and i could tell you who is going to win. sanders asked about that, and she said the president was simply joking. >> the president certainly never implied that the secretary of state was not incredibly intelligent. he made a joke. nothing more than that. he has full confidence in the secretary of state. >> full confidence in the secretary of state. we have heard this for a few days now, liz. the chatter, though, won't be going away any time soon with that comment. liz: right. we've seen this with past tensions with some of the other members of the cabinet. blake, thank you very much of. now, we want to let you guys know that the president is behind closed doors right now with a bunch of guys missing a few teeth here and there as he and the pittsburgh penguins get chummy with nhl stars and their owners, they are about to come out in front of everybody. but just as he welcomes the

nhl, he through a yellow flag today at nfl owners. the national football league. the president tweeting this morning why is the nfl getting massive tax breaks while at the same time disrespecting our anthem country change tax law? well, if congress changes any tax law by the end of the year, they only have 42 working days left to do it for all americans. not just nfl owners. adam shapiro is on capitol hill right now where the house is getting -- i guess back to work after the holiday weekend. adam, time's certainly not on anyone's time here on the hill. can the president afford to be alienating a single group, tiny group here, nfl owners? >> sure. he can afford to alienate nfl owners. i think laugh people think the president is actually winning the dispute with the nfl, and we see that with the nfl talking about passing a rule that everyone must stand, nfl employees during the national anthem. but let's talk about tax reform. because the president wants

tax reform. he wants tax cuts for the middle class. and one of the people who he may need to help deliver that is senator bob corker. let's show you that tweet again that blake just mentioned because this is what president trump tweeted this morning. not the way you win friends and influence people. but here's what he said about bob corker. the failing new york times set little bob corker up by recording his conversation was made to sound a fool, and that's what i'm doing with. and, of course, the new york times points out that the staff was recording the phone call as well, and it is common for reporters and people on the other side to record conversations for accuracy. moving forward, tax reform. all is well according to president trump with bob corker on that front. here's what he said. >> i don't think so, no. i don't think so at all. i think we're well on our way. the people of this country want tax cuts. they want lower taxes. . liz: and to sum it up, liz, you can put a cork in it.

back to you. liz: i see. so the question is tax cuts or tax reforms. i don't know about you, adam, but we've started to hear some rumblings; right? it will take too long for the end of the year, so they will revert to tax cuts. have you heard about that? >> oh, absolutely. and, in fact, you're going to see an ad tomorrow that's going to be pushing for tax cuts for small business. that organization taxcutsnow.com, which is part of the jobs creators network, which is related to newt gingrich if you're keeping a scorecard and have a map to follow all of this, they're concerned that tax reform, maybe not. but tax cuts, absolutely. again, pay attention to the big six mitch mcconnell. tax reform, this congress. he doesn't say this year. he says this congress, which gives you another 380 days, possibly. liz: oh, boy. adam, thank you very much. so wouldn't we ask a congressman, folks, about that? well, at the bottom of the hour, we've got congressman

tom reed, republican of the house ways and means committee. we'll ask him. tax reform or just tax cuts? all right. we're always looking for the next big region for hot investing with the closing bell 47 minutes away and the dow up 52, i just got back from one eastern european country that is one of the fastest-growing in all of the euro zone. but is it the best pick for the never-understanding search for yields? our floor traders give us their picks next on the floor show on countdown

today we're going to talk about trucks. which of these truck brands do you think offers best in class hd horsepower and the most capable off-road midsize pickup? i'd go ram. i would put it on ford. let's find out. noooooooo. chevy. that's right, it's chevy. they look amazing. wow. chevy's killin it. yeah, definitely.

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. liz: a little test for you here. can you guess what these fastest-growing economy in europe was during the second quarter? not germany. not france. romania, which grew at 5.9% in q22. and i'm just back from visiting this country last week. i was proud to be a panel member and an mc for the forum. and i'll tell you something. as i got to interview people on emerging eastern european governments, it was fascinating. i got to go to the central bank there of romania. now, they never let journalists in here when it

comes to the central bank, but i got to go there. that is the people's palace, as it's called where nato is meeting. i got to go into their gold reserve area, where they showed me some of that gold. that is the vice chair. and it was really fascinating to see. they've got interest rates -- you know how ours are quarter to a half of a percent? romania's are at 1.75% with growth of 5.9%. way higher than the u.s.' growth right now. this is the international monetary fund. turns more bullish on the global economy. the imf has just boosted its forecast for global growth by one-tenth of a percent this year and next. calling it the most widespread recovery in a decade. so which european gems? because people feel the u.s. has grown to capacity. which gems should you pook to your capacity? let's ask the floor traders. matt, which region do you lake? >> well, you know, you have to

remember what's going on in europe. as you mention, they've got a positive tick up for 2018. but they also have some debt level concerns after a lot of years of free money. you know, they have some political unrest in a couple of countries, catalonia being one. so these are concerns. they also don't know how to engage in inflation yet, just like we have in u.s. so some broad-based picture of the european economy would be the way to go. these funds have performed up 14% to up 49% this year. that's the way you're going to be prudent. you can't take a shot and say romania is going to be great going into next year. they could, but that's an awfully big risk. so you take a broad-based look at this, and you can perform rather well. they are behind the curve as opposed to the u.s. liz: well, yeah, we're looking at the spdr euro particulars, and it has looked incredible year to date. larry, give me your pick for europe. because that seems to be the place many of you guys are saying let's try europe now. it still has room to grow and

room to give people yield. >> well, i remain deeply convicted to the euro zone is undervalued. i do believe that the economic numbers has a lot of room on the upside. you look at the composite, come down at 56.7, that's indicative of almost a 3% gdp. more than twice since the estimate in january. with that said, really today, i talked about the dow jones stock 50 that you had just mentioned. the reason i like that one so much, it has three sectors that i like a lot -- >> which are? >> including financials, industrials, and energy. all three of them were evaluations are still very cheap relative to the market. liz: guys, as we wrap up here, matt we're looking at another record close. this would be the 65th of the year i believe for the dow jones industrials. throw out a guess, really quickly. do we see that record close in 38 minutes? >> oh, absolutely. we're grinding higher. there's no reason to stop it.

liz: matt, larry, thank you so much. to the white house right now where president trump is honoring the nhl stanley cup champions pittsburgh penguins at the white house. trump: it was a tragic loss of life and property to devastating wildfires. i spoke with governor brown last night to let him know that the federal government will stand with the people of california, and we will be there for you in this time of terrible tragedy and need. and i just want to pay my warmest respects. they're going through a lot. we also continue to pray for those grieving and wounded after the mass shooting attack in las vegas, and we stand in solidarity with this suffering in the aftermath of hurricanes harvey, irma, and maria. and thank you very much. we have to never forget. to the many members of

congress who join us here today, we have many, many -- many fans out here, folks, you know that; right? not all from pennsylvania too, if you can believe it. a lot of fans. [applause] members of my administration and distinguished guests, please join me in welcoming to the white house the two-time defending stanley cup champions, the pittsburgh penguins. [cheers and applause] [applause] . liz: all right. i'll give the penguins their due, but i still think the l.a. kings. that's my team. the los angeles kings are going to come back. hey, they just won two past couple of years. all right. we're going to monitor what the president is saying, and as he honors the penguins. but in the meantime with the

closing bell ringing in 37 minutes, walmart is the biggest gainer on the dow 30 heat map, as we call it. the retail giant is jumping because it's forecast up 47% increase in online sales. they're doing a $20 billion share. buy back plan, but they say they're going to focus more not on store openings, but on growing their online e-commerce. walmart, that's a new 52-week high up 22% year to date. stands at $84.82. being five that and a third percent gain. well, the president set on a major campaign promise. saying he will not recertify the iran nuclear deal that he calls worst in american history. john hanna was the national security adviser for the middle east for vice president dick cheney. he knows the region. he knows iran. he will tell us whether a bad nuclear deal is still better than no deal at all. countdown coming right back. the dow is up 51 think your large cap equity fund

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. liz: the deadline for a decision on the iran nuclear deal looms, fox news is reporting president trump will not recertify the deal. if that comes to pass, this will then put in place a congressional process to determine whether the u.s. should stay in the deal or reimpose sanctions on iran. what does this mean for the u.s.? and relations for our allies, let alone the middle east. rebring in former deputy national security adviser to vice president dick cheney john hanna. good to see you, john. again, this is fox news reporting. do you believe he will vote -- or he will say we're not recertifying this thing again? >> i do, liz. everything is pointing in that direction. that some time this week, the president will decide under u.s. law as he's required to do, not to certify that the deal the obama administration negotiated is vital to the

national security interest of the united states. and then it's up to congress to decide whether we reimpose those sanctions that were suspended as part of the deal or not. . liz: what do you think iran will think of that? not that we really care. but do you see some type of reaction from them that could be destabilizing or harmful? or is this really about allies who may feel the same way as we do, but they're all stuck in the security division of the united nations? >> no. i think this decision to not to certify and yet not to immediately withdraw from the deal is really about figuring out a way to keep our. allies onboard. the president doesn't want to simply blow up the deal because that would possibly blow up our alliances with those countries who helped us negotiate this deal. liz: i'm sorry. can i jump in here? what do you make keep our allies onboard? >> well, i mean i think what the president's objective here is not necessarily to withdraw

from this deal and to have a big fight with our allies, but to try to get them on side to say, hey, let's renegotiate this deal. let's try to improve this deal. it has some major flaws that even some of our allies like french president macron has admitted to. let's try and take some time now to fix this deal. if we can't fix it, then we can turn to the question of killing the deal and reimposing a serious sanctions regime. liz: we're also getting reports when it comes to north korea that hammers have stolen from south korea i guess a huge cache of data that included classified wartime plans between us, south korea, and then against north korea. how alarming is that to you? >> well, i mean, it's very alarming. the crown jewels of any security system of any nation state is its actual operational military plans. if those, in fact, have been hacked by the north koreans,

they in essence, at least with respect to certain contingencies, kind of know what the u.s. and south korean playbook will be, if, in fact, the balloon war goes up. losing that element of surprise is never, ever good. liz: and they also reportedly got assassination plans. but it may be older plans from previous administration, the obama administration. who knows. but when we get more details, we will let everybody know. john, great to see you. thank you so much. >> thank you, liz. liz: john hanna, administration for defensive democracies. in the meantime, we're still on track for an all-time record close for the dow jones industrials up 58 points. mother nature unleashing a terrible inferno. deadly on california's wine country. we go live to the region where a winery ceo tells us how he's protecting his home, his business, and his employees.

and president trump set to take his tax reform pitch on the road tomorrow. but is a major source of funding set to dry up? republican congressman tom reid of new york on whether tax reform is dead in the water. the deduction of local and state taxes, the ability to do that goes away. we'll ask him. countdown coming right back

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when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today. >> i think if there's going to be some modification done to this particular proposal -- liz: this particular proposal. well, it begins here. new york republican congressman lee having just been in on closed door tax reform meetings hinting on fox business this morning that the elimination of taxpayers' ability to deduct state and

local taxes from their federal filings. this is extremely unpopular in high tax states to get rid of it, by the way, won't see the light of day in its current form. we bring in republican congressman also from new york. tom reid. he's with us from capitol hil hill. sir, taxpayers got some relief by being able to deduct the state and local taxes. where do you stand on this part on the mnuchin trump plan? >> well, you know, being on the tax writing committee in congress, this has been a voice i've been trying to stress for many, many months now as we dealt with tax reform. state and local tax deduction, yeah, i hear all the arguments that it needs to be taken away. but these are real people that are impacted by losing this. they need to come up with a solution with it. i don't think the status quo makes its way all the way to the finish line. but we have to have an open mind that benefits these people coming back. liz: well, if it were to stay on the tax reform paper, it is supposedly going to add about 1.3 trillion over ten years to

the revenues of this country. so as the republicans put this together and try at least to pay for it somehow, that would be a big chunk and certainly a big option for that. where else, if not there, could you find revenue? >> well, if you look of just taking the state and local tax deduction and maybe limit it for the high earners. the 1% pay for their fair share, and that's where i think a lot of folks back in new york are going to end up showing their hypocrisy because they've been advocating 1% should pay their fair share. and if we do a deduction limitation or tax credit for the hard working, then we can see some of that number not being as drastic as $1.3 trillion loss that you're anticipating if you get rid of the policy in its entirety. liz: well, even in congress, you have folks like you and others from the state of california, another high tax state saying this has got to change. you're not even lobbyists. here come the lobbyists who

will gum up the whole entire reform package, and there are rumblings. our adam shapiro and blake burman have reported on this that this should be called -- that there are this who are saying let's just get a tax cut and forget about reform and kick the can down the road. don't we need real reform? >> we need real reform. anybody who's going to want to do temporary tax cuts. that's not what we came here to washington to do. last time tax reform was 1986. it's time to make the tax code competitive for the 21st century and give relief to hard-working americans. you do tax cuts people's no. you're not going to spur the economic growth. you're just going to put a sugar high into place that's not long-term. it's short-term. i'm about the long-term solution, not the short-term fix. liz: well, the president heads to harrisburg, pennsylvania tomorrow to talk about the tax reform plan and push it. but it's really up to congress. the house has been moving along. senate. it's now up to the senate at the moment to deal with the budget so that you can all move forward on the tax reform. are you guys banging on the

doors of your fellow senators saying let's get going, let's hurry this up? >> you know, i've given up trying to predict the senate, push them along. but saying this has to be done for the american people back home. they know we have to do tax reform. i'm very confident. we put the budget out last week in the house, senate's going to move a budget here, and that's going to see this to get this to the finish line. and it probably will -- i hope will be a bipartisan package. not 51 republicans but 50 republican and democratic senators that reflect policy that's good for the american people long-term. liz: we can only hope. and, by the way, the president's speech is supposed to be in our hour tomorrow. i hope everybody joins us, including you, congressman. thank you so much. >> we'll be watching. thank you. liz: so set the dvr or watch tomorrow exactly at this time because that is when the president is supposed to unveil his newest tax reform push. closing bell ringing in 19 minutes. these wildfires are only getting bigger. ravaging california's wine country.

but listen to this: 1,500 homes and businesses have already been destroyed as firefighters are trying to gain the upper hand against the flames. john jordan is the ceo of the jordan winery in the heart of sonoma county. what he's doing to protect both his staff and business in the face of severe danger. countdown coming right back. dow is up 48

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. liz: breaking news coming from the dow jones news wires. which is reporting that not only did the hack of credit-monitoring agency equifax steal info from 100 million plus consumers, but also disclosed driver's license data for more than 10 million americans. apparently, consumers submitted license information through equifax dispute's

porthole. so far, the equifax breach has affected 145.5 million americans. the stock is down, and it has lost about 20% since the news broke in early september. more breaking news, and this is just horrible. the death toll has now risen to 15 in california where the wildfires are torching hundreds of acres. the blaze leaving behind a path of destruction. home of the world famous california wine country. major hotels, wineries and restaurants destroyed. all of this during the prime harvesting season when they pick the grapes that produce about 85% of u.s. wine. while a lot of harvesting is already done, most of the cabernet are still on vines. joining us now via phone is the ceo of jordan winery, john jordan.

first off to the most important question here, john. how employees doing and how are you doing? >> well, fortunately, all of our employees are safe. on the sad side, have more than half a dozen and counting that have lost their homes and everything they owned. and most of them, god bless them, came into work today. liz: you're kidding. that is incredible. >> no. just amazing. liz: just amazing. six employees losing their homes and still showing up. john, what about your vineyards? can you give us a condition? have you gone and checked on them? >> yes, i have. you can't not here in the wine country. just to paint a picture for the viewers. i'm standing outside. you can't look up and see the sky. it's this brownish gray. there's no sun coming through. it's as if it's a -- as if it looks like it's about to rain, and it has been that way for about 36 hours. the smell of the ashes gets into everything. yesterday it snowed ashes all over my house. liz: you're in the heart of wine country, and as you look at the impact of your vineyards, let's just say

they're not torched. will that smoke, will that ash ruin or somehow affect negatively the next year's crop? >> well, for sure it's not going to help; right? but fortunately, cabernet and grapes tend to be the white variety. and there are processes to rid them of some of the smoke. but it remains to be seen exactly how much flavor degradation there would be. liz: how close is the fire to you, john? and i ask that because thousands of people have been ordered to evacuate. have you been swept up in that perimeter? >> no. but this is a highly, highly fluid situation, liz. right now, cal fire is reporting 0% came the on the big fire, which is the fire that has caused all the damage. and so a big pick up in winds can cause these fires to go in any different direction. and right now, i'm outside of

the evacuation zone, but not too far outside, so it wouldn't take much for it to come this way. liz: well, i'm sure you appreciate that president trump is very quickly declared this a disaster situation, and they're bringing in firefighters from as far away as nevada to help out. but what does this do to the economy of california? wine is a huge export and a huge boom for california. >> well, just for sonoma and napa counties, for instance. as you know, the wine industry is $4.5 billion a year here. but what people don't that realize sonoma county and napa county are wonderful places to visit. and tourism. food and wine tourism has been a growing part of our economy, and wie never had anything like this happen. but just so you know, sonoma county, still open. we need your business. the restaurants, all the small businesses, we would love to have people come. it's still a beautiful place and the smoke will blow away, so come see us.

liz: this brings to mind. and, again, we know the loss of life is just awful. 15 now confirmed dead from this fire. but as a business network, we have to ask. will this mean that california wines will jump up in price? >> unknown, liz. that could certainly happen. that could certainly happen. as you pointed out at the beginning of the segment, you know, a lot of the wine was already in prior to this. and a lot of it may be treatable in the cellar when it comes in, although, that's a big unknown. but it's certainly going to have -- it certainly raises the possibility of upward pressure on wines. now, viewers may not know. it's harvested one year, but it doesn't come to market until years pass. fortunately our cabernet grapes, it takes four years from harvest to release. so any price effects won't be

felt for a few years. liz: we just saw a hilton hotel just burned to the ground. horrible. cars torched, homes destroyed. john, hang in there, and we wish you and your employees much safety. thank you. >> all right. thank you, liz. liz: john jordan. jordan winery founder. closing bell eight minutes away. forget investing in hedge funds. billions of investor money at stake. up next, our guest who is an expert in etfs will name the top etf out of the whole group when countdown comes right back

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liz: there was a news piece. item that broke today. steven spielberg plus apple,

equalses what, nicole petallides. >> this is exciting. amazon, steven spielberg are teaming up. of amazing stories. they're like twilight zone. the budget is a million dollars, earmarked -- five million dollars earmarked per episode. apple is teaming up with steven spielberg amblin entertainment to do this we'll see if it gets more content out. apple is winner. back to you. liz: right now the stock is flat. we're watching that partnership. thanks, nicole. etf industry, exchange traded funds on track for fourth consecutive record year as investors disenchanted with hedge fund high fees and frankly poor performance pull their

fund's way from hedgies. if you're looking to get in on the monty train, tom lieden joins us right now. somebody has to be first, somebody has to be last. what is the best performing etfs, top three all of owl of them? >> aside from leverage and inverse, there is a lot of triple leverage in there, the arc innovation etf has been up over 70%. it is amazing. a lot internet based but mostly in the u.s. >> liz: arc innovation? >> internet based companies. 5% of the company invests in a bitcoin investment trust traded over-the-counter. not for the light of heart because if you actual pout that yourself there's a huge premium involved. so there is always risk. liz: that one was 74% year-to-date. >> right. liz: wow, wish i had known. what about 2 china.

>> wisdom tree owned. internet based and consumer discretionary. crain shares china etf, when you lift up the hood, very similar but they're all making big invotes into consumers discretionary. liz: china up 70%. krane shares up 68%. >> bottom, national gall down 30%. futures based. natural gas is down. since it is futures based, buying natural gas contracts into the future. small cap, when you have power shares, a small cap etf invested in energy and services, state streetsiders has equal weight etf. small cap companies in there, when shale was going well, they were making money hand over fist. when things are not going well there, the smaller companies get

tortured, right? liz: important message for you are viewers. because these are best-returning ones doesn't mean you pile in because most gains may have been achieved. what do you not like on the list as top performers for yield? >> more importantly, if you have a s&p 500 allocation in your portfolio and paying more than single-digit basis points, it is crazy, get so many etfs for cheap. what i really like i tell you, outside of the u.s., valuations here in the u.s. are pretty rich. we talked about -- liz: we talked about europe. >> some cases emerging markets. single digits basis point a management fee. there is tons of choice like there are in stocks. again the tax efficiency is very, very important but key you have to diversify. don't chase the last year's winners. right? liz: we'll put the top three and bottom three on our facebook page and those returns. why do we see balloons, tom

widen? we adore you too. hello, folks, 65th record close since the election, for the dow jones industrials. [closing bell rings]. s&p and nasdaq fall just short. that will do it for the "claman countdown." see you tomorrow. david: it is another day of records for the dow, closing up about 70 points right now. it is above 22,800 first time in history. subpoena and nasdaq ending in the green but slightly short of new highs. hi, everybody, i'm david asman. melissa: i'm melissa francis. this is "after the bell." more what is driving the bell but first more we're covering in this very busy hour ahead. the white house just responding to the war of words between president trump and republican senator bob corker. how that spat could affect tax reform. new developments into the las vegas mass shooting. police making a major change to their timeline and we're ar