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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  June 28, 2018 3:00pm-4:00pm EDT

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score reagan what did you think of today's show, what do you think will happen with the supreme court also don't forget to like my personal facebook page at real trish regan that's a wrap up 153 over to liz liz: trish thank you so much. so the breaking news part of what you just saw president trump now you haven't seen this, about to board air force one in milwaukee at any moment. our cameras are there he'll be heading back to the nations capitol after a speech of what will be a new super high-tech plant for taiwan oak tech giant foxconn. now in the last hour the president toured the new foxconn facility right in wisconsin as the company best known for assembling apple iphones revealed the plans for a $10 billion flat screen plant and campus that could create as many as 13,000 jobs so what we're going to do is get to jeff flock in just a minute he's on the scene in wisconsin and we'll have an eye on the airport as
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the president departs so while big tech is booming in the land of the cheese heads, silicon valley still sitting on pins and needles even though team trump made a u-turn on foreign investment relaxing on what would have been a tougher stance the man known as the voice of the valley. he represents companies so many can't even list them but you own their stock i promise somewhere in your portfolio he's here exclusively on why he hopes chinese and all foreign tech investors for that matter don't disappear or dry up, and a major warning for european and american automakers trade groups saying hundreds of thousands of american jobs are at risk if president trump goes through with tariffs on foreign auto imports. the wall street journal's auto reporter knows the real deal. we thought get him in here, we'll ask whether it all adds up to nothing more than a scare tactic or if it's a real deal. on wall street, all green on the screen for the major indices we have the dow up 151 points and a big move for the s&p up 20
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points even as amazon reaches into several new sectors to disrupt and slam some stocks you might own. less than an hour to the closing bell let's start the "countdown ." we are just getting this breaking news in, canada is announcing it will offer, in fact it has just offered an aid package worth between canadian dollars 500 million and 800 million to help steel and aluminum workers who have been already hit by u.s. tariffs so what they're doing is giving a little bit of a bail out or relief. the official announcement expected friday but that's what we're hearing justin trudeau the prime minister coming in putting a pillow down where they're already seeing bruises from the tariffs, president trump has put into place. on wall street stocks flexing their muscles right now as they
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flirt with session highs the financial sector actually turning higher for the first time in 14 sessions, finally somebody realized they were over sold, thus ending a record losing streak. we do have the dow as i said up 159 points s&p now better by 21 the nasdac up 71, and as if companies didn't have enough reason to fear the word amazon coming into their sector, the tech giant back at it again, trying to break into two new industries and hitting several stock groups in the process. first off, drug supply chains are swallowing a bitter pill at this hour as amazon looks to disrupt the drug store market. pharmacy giants like walgreens boots alliance just joined the dow jones industrial getting hit hard down nearly 10%, cvs down 6 % look at rite aid down 11% in this final 57 minutes of trade followed by cardinal health, mck esson. they're falling because amazon announced it's buying online pharmacy pill pack for an
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undisclosed amount. it came on our radar several years ago when my mom needed to actually take a whole bunch of medicine it helps you manage pillsment brand new dow member walgreens is the worst performer on track for its lowest close since october of 2014. united health group second worst stock in the dow along with a handful of other health insurers who are also falling on that amazon news but amazon leader jeff bezos & company not stopping there. shipping giants ups and fedex among the top decliners right now in the s&p 500 take a look, down 2.25 for ups, fedex getting hit by just under a percent after amazon revealed a new plan to deliver more packages by backing small delivery fleets , using little guys sort of like uber delivery. the new plan called delivery service partners, kind of a boring name, will allow entrepreneurs to run their own local delivery programs with as little as a $10,000 investment.
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that's why you see fedex and ups as one of the biggest reasons why the dow transports both of them are in the transports are currently in the red. we're going to watch that but we're getting breaking news the president about to head back to washington did have, taiwan taiwanese electronics manufacturer foxconn in the nation, well could you call this in the backyard? sure, after the pro-america agenda in a speech after breaking ground on a brand new factory in wisconsin that's expected to produce some 13,000 jobs bringing in billions of dollars for the state. it got a package of about $4 billion of local, state, and federal incentives to build in wisconsin. we point that out, because it's important to know that states step up and they give all kinds of tax breaks to lure investment to the state. nevada did it for tesla's factory. remember that? some people call that corporate, who knows, but at the moment
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everybodies really happy with this one. the president also rubbed salt in harley-davidson's wounds calling out the company again in his speech, urging them to build in the united states. harley recovering some of the losses its seen over the past couple of days up three-quarters of a percent but fox business jeff flock is in wisconsin home of both harley and now the new foxconn campus, mount pleasant, wisconsin is where you are. the real feel of this speech? >> [laughter] yeah, well in this building and of course this is a foxconn building this is the first one they built on this site, i think the real feel was very positive ever. the president has a great way of making his case. outside this building there is concern about that outsized subsidy package, it's an incentive package but by any account it is bigger than any incentive package that's ever been done. i mean, per job they average
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about $2,500 a job it's about 19,000 a job if you break it down, $4 billion in incentives that's a lot of money but the president broke ground today. he had a shovel in his hand, along with a founder of foxconn whose an amazing story himself and has been talked about himself as perhaps a candidate for president of taiwan. he as well as speaker ryan and governor walker here as well breaking ground and then the president toured some of the technology, toured some of the stuff that actually they will open the doors to, liz, over the weekend in the next few days to the local residents. they're going to say come into the building we've built see some of our technology, see what we're doing here, they hope to hire as many as 13,000 people. the partner said he thought it would be more than 13,000 people i think the president also tried to calm the markets a little bit , increasingly concerned about trade policy. he said essentially some day china's going to thank us for
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all these tariffs. listen to how he put it. president trump: if you don't want our agricultural product we don't want your cars. i mean it's not such a complicated formula, and they're going to come back and they're going to say let's talk. frankly don't tell them i said it but they already have. >> [laughter] and you mentioned harley. i'll leave you with this one, liz. the president, i don't know if he understands the whole harley situation. harley has multiple plants here in the u.s.. they already planned to shut one of them down long before any of this came about but they've said they're only going to make the cars out or the motorcycles out of the united states that will be sold in europe so as to avoid that tariff in europe. they're still making bikes in the usa, so he admonished them to do that. they are going to do that just to make that point clear because the guys at harley have been taking it on the chin. liz? liz: forget the guys at harley. our twitter followers flip out
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and i said calm down. i know, i know harley is still manufacturing here in the u.s. but they are shifting some of their international operation s, because they're a capitalist business so it's not us, folks. >> exactly they got to answer to shareholders and that's an expanding market for them. their overseas market is expanding, the u.s. market is actually shrinking so it makes sense. liz: exactly. that's a real world. thank you. jeff flock thank you very much. everybody, it's the president whose saying these things about harley not me so don't start flipping out on us. i mean, we are reporting what is as jeff very much pointed out a very important moment and again, talk about important moments the groundbreaking important moment and maybe it's that or just plain oversold conditions giving wall street quite a lift. look at these numbers at the bottom of the screen but i want you to specifically look at the s&p 500 it's a better example of how the entire market feels 500
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stocks from all different sector s. this is what one of our all-star traders scott redler told you and us at this time yesterday. listen. >> i think we need to see whether or not this 2,700 on the s&p holds because no sector is going to be that hot if we break out and close below considering the banks are below the 200 day. liz: okay so that was yesterday and when he said it the s&p was trading two tiny points above 2,700. we did not close there. scott was right it did not hold. we closed at 2,699, but scott's back with us today and we punch ed above that, so scott, educate our viewers. why is that level that you pointed out yesterday of 2,700 so critically important to the market and we're above it today, so now kind of shift the focus and tell us what happens if we close above it. >> well do you know what? everyone needs points of reference and as a trader that's how you live your life like the bible. what are we going to do around a
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level and if you remember on monday this week when the dow was down 500 points we actually hit 2,698 and we bounced off that so that was our reactionary low so traders were using that to figure out whether or not we could hold in so yesterday we were dancing around that 2,700 and people were if we don't hold that we could see the 200 day at 2,670 so today there was a little bit of a battleground but traders prepared with that 2,700 once we were claiming that around 10:30, a lot of stocks and nice cash holder trader using that as your gauge. liz: all right, phil? that was the technical view now give me the fundamentals, the sort of hearts and mines type of story when you see a lot of green on the screen we were just over sold or is this it because monday was a tough day. wednesday was a tough day for the bulls. do the bears show up tomorrow. give us some guidance. >> was that for me? okay basically i don't think the bears come back right now.
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i think the market was oversold. they did hold that key technical level and my feeling is hey the economy is doing great. we did see some data that was a little bit weak, but still, i think right now, if you look around the globe the u.s. is the strongest player in town, and the hotter this trade war gets, the better the u.s. looks. we're seeing that being proven time and time again. i think president trump of course is making very strong hints that we're starting to hear from the players on the other side of this that they want to come back to the table and they better. liz: you're not worried that the final prints for first quarter gdp was trend and came in at 2% versus anywhere close to 3%? >> i'm a little bit concerned but i think it's temporary and we'll see it bounce back in the second quarter, and if i look at the underlying fundamentals of the market, i look at the consumer confidence, i look at what we're seeing from these
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companies, the optimism is very very strong and that's going to translate into growth in the future and i would not be shock ed to see a big upward revision in the next gdp report. liz: and do you know what? $1.5 trillion tax cut plan, alan , that's going to kick in in q2, unless the tariffs somehow vaporize some of that, because we already had a small business yesterday, it was a bourbon maker and he's already getting crushed in europe because he sells a lot of his product from virginia to europe. you worried about any cancellation of positive effects >> i still remain very optimistic and i've got two words to describe what's happening relief rally. so we saw relief rally last week in oil. now that's something we talked about, that hasn't happened yet. we've got oil up 15% in 10 sessions so that's helping out the energy sector that was beaten down. now if we look at the markets i can make it very simple with what scott was saying.
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we came back to our breakout level that held on a weekly basis. if that holds again we should make another attempt on 2,800 in the s&p and attack those highs. another two words i want to bring up earnings season is coming up and that's the catalyst and reminds the markets of the fundamentals and less about our worries right now. liz: you guys are smart man. no wonder we have you on thanks guys very much. scott, phil, see you next time. we know this, basketball season is over, right, for the nba but msg is making a slam dunk at this hour with the closing bell ringing in 46 minutes, madison square gardens hitting a new lifetime high after news broke that the board is considering separating its sports businesses from the live entertainment business. spinning off the teams which includes new york knicks and the rangers is a good idea. they upgraded msg to a buy and hiked the price target from 233 to well above that right now at
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$300 to now 350 a share. msg making a 12 almost 13% move right now. up next is the trade war revs up , major auto groups warn the car industry could be kanye west reasoning straight into a speed trap. my sector lives and breathes the auto industry and broken a million big stories in it for the wall street journal. we'll ask him is their warning comes from both european companies and american car companies is that warning just a scare tactic or does president trump need to pump the brakes? "countdown" coming right back. they appear out of nowhere.
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liz: we have some disturbing breaking news right now we're getting reports of multiple fatalities multiple casualties following a shooting at maryland 's capitol gazette news room. you're looking at a live shot, aerial shot at the scene in anna polis, maryland, the county sheriff ron bateman is saying that the surveillances apparently has been apprehended. for a minute there it was an active shooter situation but word is he's been apprehended we're going to bring you more details as they come in but i'm just seeing reports of witnesses who said they almost immediately saw about 40 police cars at a
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high rate of speed head toward that newspaper which is owned by the baltimore sun and we'll get you more details as they become available. let us get to this story lots of threats but so far, no u.s. tariffs slapped yet on foreign cars, but if president trump decides to step on the gas and put tariffs on everything from mercedes to mazdas, lots of hand ringing about the potential fallout. one research firm is saying a 25 % duty on imported autos would result in 19 5,000 u.s. auto workers losing their jobs. not foreign, u.s. in a letter to the commerce department the alliance of automobile manufactures says the average price of a new vehicle would go up $5,800 which amounts to a $45 billion tax on the u.s. auto industry. the alliance and then other auto industry groups both foreign and domestic have been loading with the administration for months now citing higher production
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costs, higher car prices, fewer tax receipts fewer jobs and so on. let's cut through the hypotheticals and get real deal information from the wall street journal auto reporter mike sector. do these numbers sound right to you? >> look, on both sides of this issue there's an element of scare tactics here, right? trump likes to scare people and to come to the negotiating table but on the other side with these automakers it's not a joke. this is not a joke. also look at the retaliation from china, mercedes, bmw, these companies have manufacturing plants, volkswagen has a big plant in tennessee. they employ thousands of americans and this could hike prices and daimler, the dershowitz man company that owns mercedes had a profit warning recently citing the tensions between the u.s. and china, so this is having an impact. liz: it's really important to talk about and try and dig through and see whether it's
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real, a possibility or scare tactics because i noticed in this letter that one of these organizers put together and perhaps it was the report where they looked at all of the number s to say that more than $5,000 will be added to the price of a car, i hadn't heard that before. that sounds excessive. on top of it i don't know so that's what i'm wondering and oh , by the way they must know that president trump cares deeply about hitting the promise 3% growth because they also said it could save one-tenth of a percent and they're fighting for every one-tenth of a percent in gdp off gdp so where would the 5,000 come from? >> well look this is the element of this that is sort of potentially counter productive right? president trump is trying to help the american auto wok worker but these duties and tariffs increase costs for automakers they have to increase prices of cars and as you laid out opening up the segment that trickles down, that can result in job losses, and that is a
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real thing that can happen. liz: but what about let me play devils advocate the so-called substitution effect? oh, that mercedes that i wanted to buy is too expensive. i'm going to turnaround and buy a fiat chrysler jeep. what about that i'm going to substitute a u.s. car for what was going to be a foreign car purchase? >> well this is where it all gets jumbled up because the most american car being sold right now is the toyota camry. it's a japanese car, right? but most of its parts everything is made in the united states in georgetown, kentucky. liz: we don't want to hurt the partsmakers. right and the workers in america on the line. the production line making these cars, so there are a lot of inconvenient facts to the arguments that come out of the administration. liz: when we look at whose been applying for exemptions we've just put some of this on the screen. thousands and thousands have been put out there where companies are saying exempt us,
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we want to be exempt from these tariffs and so only 42 have been approved only 98 processed out of the thousand this is a slow process. >> yeah and you can also see if you read between the lines and pay attention to what's coming out of the white house and just listen to president trump there's a lot of bluster right and a lot of sort of anger and with the policy but he's granting some of these exemption s on an ad hoc basis so at a high level, scary, scare tactic, but when you get into the weeds it gets a little less so. liz: so i think it is fair to say that somewhere in the middle lies the truth. >> somewhere in the middle lies the truth and short term pain maybe for a long term gain and balance globally but in the short term lots of pain. liz: that's what the president said. good work and we're just getting more on the annapolis shooting. those shots were there and at the moment i am seeing conversation that the shooter has been apprehended so we're going to keep an eye on it we've
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liz: we've got this coming into our news room. dualing breaking news stories from specifically the white house. the wall street journal is reporting that the chief of staff, john kelly, is expected to leave this summer after one year on the job, according to people familiar with the matter, in recent weeks president trump has apparently consulted his advisors about a possible replacement for the chief of staff, and here is some of the possible replacements. sources are telling the journal the two front runners for the job are nick aris, who serves as chief of staff to vice president mike pence and mick mulvaney who heads the office of management and budget. i'm just keeping an eye on the
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dow up 154 points because sometimes these pieces of news tend to move the markets or not we're watching it the white house has declined to comment. we do have people close to the white house telling us that mr. kelly's departure could come as early as this week or it could follow the president's mid -july trip to europe and then there is melania trump and we've got breaking news on her the first lady on the ground in phoenix, arizona now visiting a second immigration facility at this moment. fox business was visiting the department of health and human services facility where children go after they're separated from their families and blake burman has been watching all of this. let me just make a quick point about the first lady she had been at another facility earlier talking to border people, but at the moment we've got a live picture, blake, of what's going on in phoenix where she is apparently on the move. >> yeah, it's stop number two for the first lady today she is in phoenix, arizona at the hope enter she started her day once again liz another unannounced trip from the first lady to
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tackle the issue. talk about the issue face to face about what is happening on the southern border to children and their families when they try to come into this country. she was in tucson, arizona earlier this morning now made her way to phoenix as you could see the live pictures over the first lady's motorcade. this comes as she also just last week went to texas and an unannounced visit there. that trip was cut a little bit short because of flooding in that area the white house saying today this is an issue that's near and dear to the first lady because she cares about children , children's issues are front and center with melania trump and that is part of the reason why she has decided to jump into this issue to go to the frontlines if you will, to talk to the people involved with all of this. they say to educate herself maybe or maybe not she will get involved with legislation down the line but the white house says she wants to go to the frontlines and learn about the issues before that may or may
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not take place in any event the first lady on the ground in arizona for stop number two on the day. that much we do know. one of the things we do not necessarily know at the moment is what might happen with the current chief of staff john kelly. you just kind of went through some of the wall street journal reporting which is that the president, according to the journal, has been pinging some folks about possible replacements for mr. kelly. palace in treeing liz is nothing new around this building as we know. it is if not a weekly occurrence a semi-weekly occurrence with john kelly, the chief of staff, has had to sort of back these things back in the past though. the journal is citing a one year mark which would be a natural jumping off point not just for mr. kelly but also for many white house officials keep in mind rumors are also following the white house press secretary sarah sanders the deputy press secretary raj shah, marc short the white house legislative
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affairs director is expected to leave in the near future here. there are a lot of top officials that work for this president. there is a lot of in treeing with the palace in treeing and the latest coming to be john kelly who the wall street journey is saying could be gone within the next couple weeks. liz: or as early as this week blake thank you and we do want to remind all of our viewers we have a lot of plates spinning in the air. we'll get you a very important update on that shooting in maryland in just a minute. in the meantime, technology and president trump, with the closing bell ringing in 27 minutes, the president helping foxconn you saw that bring high-tech jobs to wisconsin earlier as the rest of silicon valley is still a little sorries about the foreign investment dollars that they fear could dry up. up next, he's known as the voice of the valley, silicon valley that is, leadership group ceo and president carl gordino telling us how big tech views came about-face on foreign
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investment. you've got to be happy about it, at least some of it. countdown is coming right back. don't go away.
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liz: we need to get you an update on the breaking news of that just horrifying shooting in maryland at the capitol gazette newspaper building this is annap olis, maryland. the county sheriff bateman is telling fox news several people have been fatally shot at the newspaper office. the suspect has been apprehended and we're just learning now president trump has been briefed on the shooting. anything more and we will get it to you. team trump taking a step back in its trade war with the world. if you want to call it a war he's calling it a dispute and so are a lot of other pep not quite yet a full blown war but after fears that president trump would
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introduce harsh measures to curb chinese investment in u.s.-based tech companies the white house announced the president will take a less aggressive approach including expanded use of what's called the committee on foreign investment to the u.s. , cfius is the shortened version of it. how is silicon valley reacting to all of this? our next guest represents nearly 400 of silicon valley's most respected employers and millions of workers i can imagine at those companies. he says such measures against foreign investment could hurt silicon valley's innovation economy so i bring in carl gordi no, the president of the leadership group in a fox business exclusive, so i would imagine you're pretty happy that the president has taken a slightly less aggressive stance. >> we are very happy that the president and his advisors later this week have taken a less aggressive stance so let's first mention tariffs and trade because liz we both know that tariffs are like a boomerang. you throw it at an opponent and it comes right back and wacks
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the wallets and heads of american families because tariff s in return are like attacks on american products. that doesn't help anyone, but second, we always want to ball as enhanced security with the need for investments from around the globe that spur american innovation and american job creation here and it's why we've really liked the words coming out of the white house later this week of finding better ways to approach this through cfius. liz: how important, carl, is foreign investment in silicon valley startups and silicon valley established companies? >> it's incredibly important. we're a global economy and whether you're a startup struggling to survivor a global firm, this need for foreign investments spurs innovation. it spurs american job creation. it helps us to be competitive around the world and i would
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hope that none of us want to place that at risk. liz: president trump was just speaking at the brand new foxconn what is going to be facility campus plant, 13,000 plus jobs in wisconsin. that's certainly a good sign that's a taiwanese company but the chinese, and this is just a fact, carl, and i'm sure the smartest guys in the room in silicon valley would agree with me on this, the chinese copy, private and steal ideas that have been in silicon valley. how careful must companies there be and they've got to agree with the president on his concern about that being stolen. >> we are thrilled that the president and his advisors are concerned about intellectual property and theft. that's an issue that we have been facing for decades and we need to face it in a smart way and it takes a surgeon's knife rather than a sledgehammer to look at ip, and what we've learned in dealing with china,
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bilateral is often difficult. if we can move in a multi lateral way we've seen that on issues in 2004 and 2009. china responds much better when we have a group of allies confronting china with us, rather than acting alone. in terms of foxconn in wisconsin , that's exciting. when we can create 13,000 jobs for american workers, that helps high technology because that's linked with manufacturing, especially advanced manufacturing where we can learn even more about productivity that helps our economy, but there's always a trade-off, liz. as you know, those 13,000 jobs came with $4 billion of investment by wisconsin taxpayer s through governor walker's efforts and that's about $300,000 per job at that new foxconn facility. liz: carl it's a fine line between being very protective of
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our intellectual property in the u.s. and government overreach so we'll be watching that. give us a call any time. we want to hear how the real job generators in the valley are feeling moment by moment thank you so much. >> liz, thanks for the great work you do. liz: oh, thank you so much, we'll see you next time. we want to get to this breaking news the first lady as we mentioned has just gotten on the ground and is visiting now a second immigration facility of the day. she's in phoenix, arizona. fox business learned she's visit ing a department of health and human services facility where children are brought after they're separated from their families and their parents. there are reports that there are also a couple of dozen protester s outside of the facility. meanwhile, there are also immigration protests at the nations capitol. heart senate office building is the location. the crowd was reportedly chanting "what do we want, free kids." we'll coup an eye on all of this
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as it comes in but at the moment we're going to talk about this. rolling the dice on gambling, atlantic city is doing just that , 17 minutes before the closing bell rings atlantic city was left hanging by a thread, but now, total rejuvination is like it's rising from the dead. two grand new casinos opening doors today, so we said what the heck let's get susan li live there it's the ocean resorts casino. she's going to give us the very latest on whether people are really ready to take another gamble on what used to be america's favorite playground. its had booms and busts. is the boom about to really happen once again? countdown coming right back we'll take you there.
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now we have the bomb squad on the scene they're searching the buildings at the capitol gazette newspaper offices. the maryland fire department, they're the ones who have the bomb squad. they've confirmed to fox news they've sent the bomb squad in they're not sure that perhaps the shooter who apparently has been apprehended has maybe planted something, again, we should tell you that multiple people have been shot and we are hearing of multiple fatalities at the capital newspaper in anna polis, maryland owned by the baltimore sun, the atf is on the scene, they're there, along with the annarundle county police department so this is very much an active scene. we do not have more details just that a mass shooting has occurred and there are multiple victims. okay and we're also getting this shooting is being seen as a
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local incident, not terrorism. that's what they mean when they say local versus terror, although one could argue these are terrifying incidents no matter whose pulling them off but there's a connotation that it's being treated as a local situation and there were reports from witnesses who said that shortly after 2:00, around 2:45 actually p.m. eastern time, 40 police cars at a high rate of speed had to come zooming around the corner toward the newspaper offices. we are seeing that senator holland of maryland just put up this statement. my heart is with the family friends and loved ones of the victims as we learn more about this terrible situation we must unite to end the violence and president trump has been briefed on the situation. we do have the closing bell ring ing inexactly 10 minutes we're off the highs of the session we're now up 104 points
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for the dow we're still seeing gains for the s&p and the nasdac , gold is down $7 no flight to quality there, but the s&p comfortably above 2,700 at 2,716. we do have entire stock sectors that had been cracking down under the trade war hammer but our next guest says this is your chance to nail down some profits $2 billion man steve dudash will join us in a bit. actually why they make the best buys for your politician. countdown is coming right back. at fidelity, our online u.s. equity trades are just $4.95. so no matter what you trade, or where you trade, you'll only pay $4.95. fidelity. open an account today. at crowne plaza, we know business travel isn't just business. there's this. a bit of this. why not? your hotel should make it easy to do all the things you do.
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which is what we do. crowne plaza. we're all business, mostly.
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liz: okay i want to circle back to what we kind of started with here and that was the s&p 500 and we had to hold that 2,700 level, well we are we are comfortably above 2,700 which is a bullish sign for stocks we're at 2,715 right now, want to talk about this the maker of iconic
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footwear, the air max jordan basketball shoe is set to report earnings shortly. nike, what's it doing ahead of that? nicole? nicole: well you're right and you're right to mention air max jordan, because we saw addidas bring back the stance and the air max has had nike to pick up momentum. the analysts are saying that it's actually in an upward trend going into the back-to-school. the efforts are they were going to beat earnings again. they have done so for the last 21 quarters, so we'll be watching for the nike numbers right after the bell. but the analysts have been liking nike lately. liz: well, you know you and i both have young sons who are around 14 years old they always tell us which is the hotter one. >> my dad bought a pair of air max and then my teenager took them. liz: have you ever heard of the website goat? don't get me started. it's a fancy fancy sneakers that are very hard to get. don't go there nicole. nicole: all right liz: too
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expensive. all right thanks so much the dow is down 10 of the last 13 days but right now, it's about to break that. right now, we're up 94 points but we've lost more than 100 points off the highs of the session. a lot has to do with fears about trade disputes that seem to be ramping up but our next guest says it's all going to blow over some of the hardest hit stocks are making the best investments right now. steve dudash is president of ihd wealth management okay steve make your case. >> we're always buying the beaten up stuff. two years ago we were buying energy when everyone said stay away from that. year ago we're like buy financials that's outperformed the market. listen we all know trade wars are bad we don't have to debate that but the reality is if you take the politics out the world leaders aren't dumb. they know this and people around them aren't dumb too. this is just posturing right now for negotiating tools it's going to blow over and pull back on it but you've got some sectors like we'll talk about that are just getting overly hammered for no
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reason other than they think that no one is going to buy phones any more. no one is going to buy technology any more. it's just not realistic and just emotional and that's what we're always looking for when we're trying to buy into good pricing points. liz: well then they are going to have i could have had a v8 moment and they will say why didn't i buy right now which will be in the rear view mirror so let's say you're advising them to wake up and smell the v8 and buy right now, which sectors do you feel have been hammered down so much that they are great deals right now? >> semiconductor sector. the whole sector is beat up right now. you've got companies like micron trading at 4.5 times future earnings. liz: i thought # 8% year-over-year. what are you talking about? >> but it's down 17 or whatever it is in the last month or two since these fears have been going on and people are pricing it as if it's going to go out of business. there's no way. it's impossible. what's your realistic that potato chips that are most of those companies are at 14-15%
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future earnings are going to grow faster than micron? or applied materials that have grown 30% service earnings over the last year of growth? that areas going to pullback. are you going to buy a phone next year with less technology, less support, less memory or are you going to pay a little bit more which is if the trade war goes through more realistic? you'll pay more for the same thing. the biggest loser that will happen unthe next year is the consumers going to take the brunt of this to some degree but technology will keep going so buy into what's cheap now and right now, the thing that's gotten hit the hardest is semiconductors. liz: and you had lam research what are those? they have pe, price to earnings ratio for people. that gives you a sense of whether a stock is overpriced or fairly priced. >> so both of them are like in the eight to nine range of the future earnings so what we think will happen in the future meanwhile companies like pepsi, it's at 17, general mills is at
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14, 15. which ones more likely to grow? and it's not realistic right now and that's when we're consistently going on shows like yours over the years always looking for the things the logic doesn't make any sense i want to take advantage of those and take advantage strategically again that have shown the ability to continue to grow even in down cycles. chips might get hit a little bit harder in the next couple months as the trade talk comes on no doubt about it. it could absolutely happen but in the next five years, you think technology will be bigger or smaller? do you think everything will be more or less? liz: obviously more, electric, you know. alexa and all of this stuff that everybody is using we've got about 15 seconds left, steve we've lost now more than 100 points off the dow. anything to worry about when you see this kind of loss at the last couple of seconds? >> like you were talking about before looks like we'll hit our support levels. i'm not overly concerned about the last few minute trading
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changes. that's usually at this point the programs just cleaning up the books at the end of the day so this isn't, don't read too much into the last 100 points. liz: all right i won't because you said not to. stocks finish off the highs of the session, a lot of breaking news and we're going to get that to you right now with after the bell along with nike earnings. adam: a rebound on wall street stocks back in the green the dow ending the day up roughly 98 points, that's off the session highs, but still in the green the s&p 500 and nasdac also on the rise today, hello i'm adam shapiro in for david asman. melissa: i'm me francis this is after the bell but first we have of course breaking news. multiple people have died following a shooting at the capital gazette news room in ann apolis, maryland. the sheriff saying one suspect has been apprehended now police are checking the area to see if there are more shooters. let's go to deirdre bolton in the news room who has more


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