tv Countdown to the Closing Bell With Liz Claman FOX Business January 8, 2018 3:00pm-4:00pm EST
james and me for dinner. happy birthday dad. we didn't go outside much as you can imagine. inside was certainly the way to go. thirty minutes and you are in. i go to colorado it's a little bit warmer. thanks trish. is a wet runway in tarmac. this is a life picture where live picture where president trump is expected to land at any moment our cameras are there. they will have to the opryland convention center for a big economic speech. for issues that impact the agricultural economy. that includes the somewhat controversial north america free trade agreement.
even rural internet connections. we will take you there for the president comments live at the top of the hour. totally reversing the offshore drilling rules. should the oil industry be careful what it wishes for. trip advisor dan everhart on the major turnabout that some say could lead to oil company bankruptcy. tech investors zeroing in on multiple developing stories at this hour. i'm going there for all of the excitement. it is the eve of the world's greatest technology convention. as the security falls rocket. buyers and investors.
i am leaving the second after the show. we will have us full preview and show you some things that are supposed to be the hot stock. the markets may not look as her -- as hot as they usually do. all five major indices right there in the green. we are less than an hour to the closing bell. a very busy monday hour. >> speaking up 2018 we had breaking news. one of the most hotly anticipated events has to take place in las vegas today which is the have of the official opening of cbs 2018. we are told it has been postponed. the personal helicopter drone that is supposed to have the maiden voyage at this hour but
is being delayed. keeping the two-seat live coverage of it tomorrow when i hit the ground in sin city. in the intelligence report. let's see if it will take its maiden voyage. they are gaining steam in the final hour of trade. you could call it a little bit of muscle here because any gain at all will make that another record close in fact the s&p 500 and the nasdaq in the small and mid back about 57 minutes from now you've got to see that one. how many times have we heard this term tech has peaked. they are once again charging ahead in the new year.
the tech is driving the gains on wall street. hitting all-time highs. there is negative news swirling about that. and general electric just can't catch a break. the industrial giant on track currently one of the worst performers on the tao about 2%. after the analyst said five days in a row that's nice but let's cut our price target. ge is too risky for their taste. president trump is ready to appeal to the american farmer. the american farmer may not like. the fate of nafta with canada and mexico is still unknown. rural american agriculture likes accessing and needs to
have access to a robust global market that includes those two countries. there is a bit of a conflict between these two. >> the plane has not landed yet. and they will be cnet. the farmers can expense like other businesses. 100 percent of investments. your video farming in the united states. he will be dealing with the issues of trade. and how our goods are treated with canada and mexico. the ceiling -- standard of
living. it's just part of the message. they will say during their speech when he's talking about the compass meant so far than american businesses are going from the highest tax rate in the developed world to the one of the most competitive. that is just that's just part of the message as you can see. air force one arriving now. and where they are headed on the negotiations. here's what he said. nafta has been generally good for agriculture. and they understand that. they are also under a lot of duress. over the last four or five years. agriculture is very low.
i think they can convince them. while he is a tough negotiator he is expecting canada and mexico to come to the table and have a renewed nafta that will be good for american agriculture. the people at the speech will be paying attention to what president trump has to say and looking for clues as to what kind of initiatives he might initiate to help raise the standard of living for people in rural america. after nashville the president well had to the college national championship. the author of trump to two. the seeker confessions of a donald's brain. >> let me start with this. it was caught somewhere between the rock and a hard place.
in the red states that voted for president trump but they like nafta. they love free trade so they can sell it to the north in the south here. what will he say about nafta. >> president trump is in an audience that tends to be friendly to him. this is gonna be tough. he is going to listening to his agriculture secretary he will be listening to these farmers and i think it's ultimately going to get done. the president will employ the tough talk -- tough talk. maybe will be a little bit more favorable with the united states. but i don't he will push it so far that the deal falls apart. he understands how important is it is to the american farmers. one of the things that the president's tax presidents tax
law has done was allow companies in farmers do they still then need individual sector subsidies. doesn't the president need to look at the issue as well. it's time to faze it out. you can't defend them forever. you talk about the trump base as if it is that unified thing. this is a perfect example of why it is more complex than that. they love the anti- trade anti- immigrant rhetoric. it is a more complex equation. we will see how he straddles that. we also need access to robust infrastructure.
there was a weird moment. he said he was not so sure about a public private taxation partnership. we bring in private companies to do some of this work. within the next 24 hours the national economic advisor headset and by the way we are waiting for the president to exit from air force one, he came out and laid out the whole thing. i have to tell you jfk it was a disaster this weekend. it there was a huge water main break. they ran it. they have nothing. a couple of guys with squeegees. three guys with the squeegee. it was a complete disaster and there had to be an evacuation.
this is a challenging one because there is a little bit more and he wants there. there are areas where we need to focus without public, private partnership. the profit incentive will not be enough to require that the structure needed to help in small towns and communities that desperately need it. the press profit incentive. they will get more business. they see the value of public-private partnership. big speech for the american farm girl. a white house spokesperson said you know what gary was
exactly what he said. as we look forward to what should be something this year do you expect infrastructure will happen. the truth is you've got to fund it. unfunded efforts in the second a second work whether the privates are running it or not. we've a generation or more of failure to fund that. he's coming off of air force one. the group he is speaking to know sitting president has addressed the american farm bureau in 25 years. clearly the president sees an opportunity here. it will be very interesting to hear what he says.
and how they love access. and then we talk about all that's going on with the stock market kevin has been quite an incredible run. it appears to continue. one quick word about that. there is a lot of talk about the presidents tweeting in his press conference at this weekend and all the things he is saying. a lot of times we look at the style and people get frustrated. the substance of what he's accomplishing. at least from a purely economic standpoint. the stock market is doing more. the tax plan was passed. i think overall there is so much consumer confidence that people are looking at stylistic challenges. thank you so much. keep it right here for coverage of president trump's remarks to the american farm bureau.
>> as if the news five days ago that a security flaw in millions of chips that power the iphone your laptop and your desk talk -- desktop. the closing bell rings in 45 minutes. it's not the only massive stumbler that has giving last year's text darlings text darlings a black eye. they have a warning from a lot of people there. iphones could trigger a national health emergency for your children. on whether tech is about to get knocked out. the floor show is next.
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this has just about anything. and yes mac and i have to act. they are supposed to slow down the speed of that device so business everywhere are still very cautious about installing the patches. he is gearing up to give the keynote --dash -- keynote speech in front of thousands of that techie of techies. apple is also staring down new attacks by its own investors. about $2 billion of apple shares. they have sent a letter warning that iphones and children are a toxic pair because they cause could cause
phone addiction. the stacks of both companies had been mostly immune to the negative headlines how long does that continue. it all depends on your time frame. if you been an investor for multiple years i think you've dealt with this kind of news flow in the past right now over the past two or three weeks it's been is but a negative cloud between iphone acts and then turning the battery life down. i think for traders we are watching the average. i think some traders was date some where between the blended exponential as far as intel. it went from 35 to 47. although there are some problems in the headlines right there. i think if it consolidates about that area the prate -- the traders will not get there.
todd to apple and that situation. this letter and i think weeks for a lot of parents we do worry that it's all smart phones not just apple are affecting that attention spans. their ability to work out problems themselves without electronics. at some point well there be backlash i think that's what janet and callister's are worried about. as a father myself up for i understand that these devices do tend to stray their attentions a little bit. as far as a stock goes. it's made some big moves and the trend that trend is your friend with apple. fear is not price into the market. it will be quickly bought. investors are still very much so. as long as the stock price goes up. and we will have more cash going in from overseas.
as it has in the past. i want our viewers to tweet me at liz claman. to tell me if you're worried about this kind of thing and whether you're concerned if your kids are addicted. this does spread and there is a lot of technology there but these two names intel and apple should be with the macro devices. as a new massive partnership with huber. >> apple's most important customer globally is me and i'm never gonna buy another iphone again my iphone has not worked right in six months. how me other people just use it for e-mail and a calling i can to try to go to a cheaper device. as far as intel i did on some intel i don't like the news i have sold some options against it. i don't like what is coming ahead more news and more
news. they are good news they will do well but right now i would not add to the positions and i'm actually reducing. what this means for the oil companies as i talk to before last time i was on i think technology is what's gonna drive oil production and i still like exxon mobil and i guarantee you customers -- companies that are into oilfields they will get hit. good to see all of you. apple is slowing down the batteries she is a six it's completely slow now. maybe heavy machinery it might be the new winner in 2018. with the closing bell ringing and after j.p. morgan said the tax cut plan will help the construction cycle this year. raising the price target from two to 144.
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the world's second richest man has an nba but says you don't need one to succeed in business. he has long said that the cost of that comes with the is mostly it is mostly valuable for the human component. we've a couple of folks who attended the school of business and they are there at the new york stock exchange. nicole, and she is with the have of the staffing services country -- company assignment. i'm interested to hear them make the case for business school.
>> it's a very big deal. they are going to talk about what warren buffett is talking about which is the human element and how important business school is there. david miller is here with us today. is your thoughts on smu. it is really an exciting opportunity for us to be here and celebrate the 100 university in the 40th year. i'm an nba grad. got a great education why is it so important to have an mba. i think that second-degree differentiates you and sets you apart from a person with one to gray. it has served me well. this particular school as one
that is highly coveted. your thoughts and you are talking about. and how this is so important. the biggest growth the challenge is finding talented people. and it's an arms race. people have lots of choices especially when their highly integrated. i would tell you it sits at the right spot. they are in dallas. the southwest is booming the oil and gas industry in the financial institution. it is really spurring a lot of the girth. in the southwest and the school is feeding that growth with their grads. they put a lot of new programs together. and it is a desirable place to go and is great to celebrate this anniversary for the school. and they have a tremendous list of alumni. north of downtown dallas. talking about these. back to you.
i actually have a question. can you ask mr. damir's people have said that some of the greatest businesspeople those guys did not get mbas. what does he say when people throw that in there and say you don't need it when we talk about mark zuckerberg and howard schultz some of the greatest companies in our nation at this time what are your thoughts they did not get mbas. what is a differentiation. >> what they all have in common was great intellect and a vision. they prioritize human capital. they built out their visions. if you look at those visions. they are not all in silicon valley.
a lot of the talent is in the southwest now. for tax overhaul. demand is there. it is a supply issue. we put us on technology assignments. if we could find more quality people. it is undeniable that the economy is strengthening and more people are aggressive about investing. we are so happy to have both of you here today. ibid. miller both for joining us representing their college thank you both for being here. it is now a reverse gone from green to red. it has already been there and back several times in the session. we are down 29 points.
no record yet. in any gain will be a record. the semi connecting chips will be some of the biggest topics starting tonight jensen among this company has been on it terror kicking off the tech show with a major announcement last night in video the name behind the chips that will be used in the biggest video games ever. but now they are going straight into real cars. the autonomous car game partnering with huber in the rally in two brand-new records today up at three and a half% right now. one of the biggest themes of last year's event. right after the show today i'm rushing to the airport to sin city for all of this year's a big action. you've got to join us. live tomorrow. at 3:00 p.m. eastern. look at this video. of the workhorses.
that has been delayed due to rain. an exclusive look. we are talking we're talking oil and drilling offshore. i tried hard to quit smoking. but when we brought our daughter home, that was it. now i have nicoderm cq. the nicoderm cq patch with unique extended release technology helps prevent your urge to smoke all day. it's the best thing that ever happened to me. every great why needs a great how.
we have just confirmed that president trump has arrived at the gaylord opryland convention center in nashville. it is that big convention here. he was speaking about a half hour. we big news out of the white house in dc. and administration official confirming a decision on just who will be nominated as the federal reserve vice chair
seat. this nomination his new second-in-command it seems may not be too far behind. and we have some breaking news on apple. we were just talking about how apple have admitted it was purposely slowing down the batteries of oil older iphones now it appears the french prosecutor has launched a probe into alleged apple deception regarding those slowing batteries. they call it deception and plant obsolescence of its products. we will see what european regulators do after that. but the stock is now down half a%. oil prices in new york. closing above $60 per barrel. as we look at the prospects of even the higher u.s. crude outlet.
they had unleashed the biggest expansion. starting in 2019 the government said it will open up tracks including the east and west coast are of the gulf of mexico part waters. as you see on this map canary is one of the largest privately owned oil services. it is the ceo dan eberhardt and he's also an advisor to the america first policy. protest notwithstanding let's just say this how will this impact the price of oil in the survivor of oil companies if you increase the supply. i think in the long term if there is more production it's the oil consumption that will be needed anyway. i think what it leads to is america buying less foreign oil.
two domestic jobs and our national security. let me push back on you. i'm not so sure and here's why. it is fantastic that we don't depend on arab oil anymore. i love that. i don't want it depend on countries that hate us like hit us like iran. that's a good thing. when you add that much supply the price normally goes down and unless every 101 professor on this planet earth is wrong you will see a price drop. and that what the what follows might be bankruptcies on that. if the industry keeps doing this that they may douse the big bull run in prices. i think there is a lot of truth to that also. i think that in the long-term if we provide more drilling opportunities in the u.s. the oil industry will find an
efficient way to do that in a way to do it a profitable way that produces returns for shareholders. otherwise they won't get drilled -- drill. when they were talking about wind farms off the coast of hyannis. even green energy it is certainly getting pushback. what do you expect to see here when you go to the west coast and the east coast to try to open up these offshore drilling patches. i think there has been some pushback from different governors and stuff. this is a draft proposed plan i think the plant will get changed a little bit as it works its way through the system but i think we should be focused on drilling at home as opposed to buying some oil from overseas etiquette is good for national security
whether it is good for the economics of the oil business or not. with this breaking news james do more who wrote that bombshell memo. he is suing google for discrimination. you are looking at a live press conference in san francisco where his attorney is discussing the reasons behind the decisions to take legal action. he was the guy who was fired back in august after he wrote a memo outlining what he perceived to be jennifer -- gender differences. they were less equipped to work there then men wear. than men were. so he was booted. and as i headed to the consumer electronics show i can tell you there are no female ceos major ones that are giving any of the keynotes. this has become an issue
they're not happy about this. it will be watching the situation as well. the nasdaq and s&p are up. basil -- bad news keeps coming for ge. john flannery and the 20 billion-dollar cost-cutting mission could be about to get a whole lot bigger than he had anticipated or thought. charlie is breaking it next. building a website in under an hour is easy with gocentral...
charlie guess brain is breaking. so they are talking about selling $20 billion of assets over the next two years. but we are getting some bankers inside the company they are actually talking bigger numbers they are talking something about $25 billion over the next couple of years of assets. that will be three years of asset sales. i don't and there really come to terms with what they're doing there. over the next three years equaling something like $25 billion. it will surpass the number they believe it is going to surpass the amount that they are already putting out there. we should point out that they are speaking about the 25 billion-dollar number. the stock has not been doing that great since the new ceo
came in. they are in panic mode. there is definitely on the table talking about some sort of a major restructuring beyond just the asset sales. there is stake in baker hughes. this is accelerating and i think what you have here is this. i say this with all due respect. there are people on the outside handling the former board member major financial players who hold this stock in their retirement purpose portfolio. they are starting to hit the panic button. the stock hit an all-time high -- an all-time low a couple months ago. when that ge outside shadow army start losing it because
of so much money in this company. the new ceo that's when they start to hear it. the last thing they need is jack walsh to come on the air. they have to implode the place. right now you have a sense of desperation and there. on one other thing don't take off the table a major restructuring breakup of the company. a little bit of news and chatter. that does some work with sloppy steve bannon. tell me that they like sloppy steve better than me.
mister president i support you as well. the same source told them i will kick his pointblank. pointblank. trump is actually calling that. he is a consultant. a guy that does a lot of media consulting. he's not like a ceo or something. the mid range players. calling them and sing who do you like better. it me or him. the question becomes as we await what should be a popular speech here he won. why is he asking.
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transports are. the biggest tech show on earth kicks off. the biggest leader in 2017 that would have been the nasdaq, indices. leading major indices last year. lifting nasdaq to another record high this year. amazon and google are at a steel cage death match for virtual a assistant accessories. who will be the big winner of ces this year and the losers? kevin kelly, managing partner, kelly and company. i'm always excited about this. when trend emerges 3d tv. i have been covering this thing 10 years. i'm hearing virtual assistant and ecosystem around it. who wins? >> that is huge. amazon will be the big winner is amazon and biggest detriment to
google. it has to do with addressable market and data analytics around that. what i'm talking about the echo that goes in people's households powered by alexa. alexa, buy me this, alexa, buy me that. you can use alexa to buy at whole foods now. advertising dollars fuel google's revenues and they are -- liz: google's assistant, that steel cage death match. apple siri goes into the pod. apple doesn't come to the consumer show. they don't come to ces. >> no. they have a lot of developers. they will be focused on -- liz: accessories. >> think about "pokemon go." amazon wants all the companies to sell on their platform and it costs more. better richer, data analytics and google. liz: surprised you say ibm is a winner. >> that is a dark horse.
they have been into blockchain technology for a long time. they will speak at the digital money forum. traded at pe at 11. they can get to 15 if there is market adaptation. >> fitbit, gopro, look at all those companies. liz: fitbit is not going there as they have in past-year-olds. >> they can't spend the money they have to address how they compete against bill stalwarts. liz: gopro is tanking, it was an $11 stock at the high of past 52 weeks. it is five bucks and change. >> one of the reasons. they're cutting out the trone mark -- drone market. they are actually laying off everybody in in in that division. they are doing mea culpa and looking to sell themselves.
liz: kevin kelly, great to see you. [closing bell rings] liz: a record close for four other major indexes. you see the records certainly again today. live from las vegas. i will see you in las vegas tomorrow at ces. be there. david: the dow is trying but looks like it won't make it today. it is in the red. as you can see we have record highs on the s&p and the nasdaq once again, making their own records five days in a row now. happy to see you everybody. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have got a very busy hour ahead for you guys. president trump in the music city looking to strike a chord with his base arriving in in veil, tennessee, he will be the first sitting president in 25 years to address american farmers at their annual convention. every president is invited every year. he is expected to lay out his plan to help