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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  December 5, 2014 3:00pm-4:01pm EST

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get on social media, tell me who you think it is. find me on facebook or on twitter. i want to hear from all of you. we're going to share your guesses on who it is on monday, so get online and do it. countdown starts now. hiz les i hope it's -- liz: i hope it's karim abdul-jabbar. christmas and honda have come early -- hanukkah have come early, folks. is it all good news? we're asking the country's top man, labor secretary tom perez here live. but first, take a look at the markets. this rally has everything to do with that solid jobs number. listen, the dow jones industrials almost broke the 18,000 mark. we came within less than nine points of it during today. we're hitting new intraday highs on both the dow and the s&p, and we've seen more than 45 stocks in the s&p 500 hitting record highs. not just 52-week highs. widely-held names like
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starbucks, disney, dollar tree, mastercard and delta. do you own those and the other 40 or so names? we have much more on these red hot markets. sylvester stallone stood up to a beating by mr. t. and ivan drag go in rocky iv, but he's met his match in the form of sell think and -- stealthy and very destructive cyber destructors. sony has ensnared some very famous actors, the latest on who may have done it. the last hour of trade on this friday, let's start the "countdown." ♪ ♪ liz: i must break you. is that what he said? okay, that was drago? listen, the markets aren't getting broken, they're building up, and it could be a milestone day on wall street today. both the dow and the s&p have hit new intraday lifetime highs, but the big question, will we hit dow 108,000? for -- 18,000? for those of you listening on
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channel 113, we're at about 17,948, but earlier today we were less than nine points away. now, we've pulled back a bit, a little profit taking, but what should investors do if we hit that level or get really close to it? let's get right to the floor show, traders at the new york stock exchange, cme group and the nymex. high, rob hackle, you're at the nyse. intraday records, is this time to whip out the confetti, or do you look at this and say, wait a minute, we got really close this time, we didn't touch it, time to take more profit? >> >> well, liz, thanks for having me on. is it confetti or pom-poms, i think now looks like a pretty good time to continue to stay into the market. the dow is only up about 8%, the s&p's up about 12%, it's really not that overbought, and i think it's still going to go a little bit higher. liz: kevin craneny, you're looking down at the cme, first this morning 8:30 a.m. eastern, 7:30 chicago time, you saw that
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major jobs number, a build of 300 plus, 321,000 jobs plus an upward revision for october which was very good news. how did the traders respond? >> bullish jobs number and, certainly, we saw bond prices start to come off, so yields started to increase. and i think it's an overall bullish tone. when you look at the equity side, a lot of the funds are trailing some of the benchmarks, so you'll continue to see really a push higher, albeit a grind higher through the end of the year as we start to look at what the economy, really the global economy will look like going into 2015. liz: well, rob basically just said the bears need to hibernate, kevin. do you agree, or is there a way to exit gracefully and slowly but surely from the equity market right now? >> i don't necessarily agree that they need to hibernate. i think we're going to continue to see the volatility pick up in this market, particularly as we start to look at when the fed might raise interest rates. a bullish jobs report this morning really puts that back on
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the table like it could be the first half of q1. really i think there's an opportunity for bears, but they have to be nimble in a market like this. liz: how about bearishness, jeff grossman, that continues in the oil market. we have brent on track for its first weekly close below $70 -- weekly close, right? so it's already below $70 here for brent. we're looking at 68.88, light sweet trading hoar in america, 65.67. volume is thin, so how should investors be playing what appears to be a saudi price war? they are panicking because the u.s. finally said we don't need you guys anymore. >> well, i don't know about them panicking so fast. i'm a little surprised at the knee jerk reaction to this. i think if they held the fort here, the natural ability of this market may just, you know, consolidate here and probably work our way back up a little bit. i don't think this market's falling out a bit here. and as i always say, everyone so sure now that we're going lore,
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it looks like a good place to probably buy. liz: okay. that's when you all start to see too much bullishness or too much bearishness, it might be nice to take a little corner off your portfolio and commit it to the other side. banks, we can show sectors, banks all green, financial services, all green. i see some struggling in big technology, and i guess, rob, that has been a play that's looked really good lately with the intels and the microsofts of the world. the only green in the big names is hewlett-packard, intel and applied materials. what's going on? >> i mean, at this point they have had really big move into some of these stocks in intel and some of these other names. they have pushed higher, and you're seeing a pause, and i think it's a natural thick to have some of these -- thing to have some of these stocks not moving up. in regards to the banks, they're moving up, financial services are moving up, overall i think it looks pretty bullish. liz: great to see all of you. have a lovely weekend, thank you
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so much for joining us on the floor show. you can certainly give almost all the credit to these great market numbers to what happened this morning at 8:30 a.m. eastern. a major early holiday surprise, the november jobs number easily this rashing expectations -- thrashing expectations. 9 1,000 jobs to the upside. up 321,000. investors seemed to cheer. here's the cheery part, the number obviously great for the economy, it's helping lift markets to new intraday records. you have, of course, very low gas prices which help put more money in consumers' pockets, inflation remains low. next thing you know, companies feel confident enough to hire. but the job participation rate still remains around the lowest we have seen since 1978. it's not really budgeting. u.s. rate hikes might be looming. also a global slowdown. we know about europe and china, spiraling health care costs. will that be enough to derail all the holiday jobs cheer we're getting today?
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nobody better to ask about the subject than the man in charge at the labor department, secretary tom perez joining us live, u.s. labor secretary. welcome once again, secretary perez. >> always a pleasure. liz: we have gone through the numbers, and i want to add another one, the upward revision of 44,000 jobs in the month of october really is yet another sign that we are seeing, what, 57 straight months of job growth. so we've done the numbers for you, you don't have to read me that. i do want to get straight to the fact that there are concerns that we just articulated. you know, the looming rate hikes, who knows? this may push the fed to move more quickly. then a slowdown elsewhere on the planet. how do you fight the negativity at the labor department over which you have no control that may be looming? >> you know, i've been asked a lot about are we concerned about wage inflation, and i keep thinking about all the people i talk to across the country who are back at work, they're very excited about that, but they haven't had a raise in a long time. and this report, as you've
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pointed out, is a solid report. we're on track for the best private sector job growth since the late '90s. and our challenge here is to make sure that the shared prosperity that we saw in the late '90s is something that we enjoy here. the rising tide lifted more boats in the late '90s than it is lifting now, and that's why we continue to focus on wages. i'm very heartened to see the wage growth that we saw last month. i'm equally heartened to see not only last month, but when you look over the last two years, liz, not only the quantity of jobs growing, but the quality of jobbings. last month's numbers, and really over the last year or two, you see broad-based growth. you look at construction jobs, you look at manufacturing jobs, auto sales are going gangbusterrings. these are all good indicators. 2.8 million people quit their job in our most recent report. you don't quit your job unless you have got confidence you can get a better job. liz: right. >> there's a lot of indicators
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that are moving in the right direction, and that's going to help us address the most important piece of remaining business which is to make sure we see consistent, real wage growth like we saw last month. but we want to sustain that because too many people haven't had a raise in too long. liz: and hourly wage growth, that's another good point too, biggest uncrease, about four-tenths of a percent, so again that's encouraging. we had a lot of market participants whose opinions matter, so we thought we'd bring in a couple of these. very, very major when it comes to all kinds of things, he used the word "impressive." impressively strong jobs report, good news for main street. digesting it wall street should take the global perspective beyond just the fed. doug holtz eken said some of the jump may reflect difficulties in seasonal adjustment. and then we're looking at better gdp growth, that's what he'd
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like to see. ian shepard sent a pantheon, i lo this economist -- love this economist, he called it spectacular and believable this time. now let me tell you what i'm worried about. we're seeing a lot of job building, and it's temporary from the fedexs and the upss and the jc opinionnies of the world, are you -- jcpenneys of the world, what are you doing to head off at the pass a january slowdown or perhaps shedding of jobs? >> well, again, i think it's important to look at where we saw job growth last month. the super sectors. the sector that's had the most job growth over the last year has been business and professional services. these are not jobs that are created for november and december, these are architects, accountants, consultants. these are well-paying jobs. the average person in manufacturing in an assembly line is working 42 hours a week, and that's because we're, people are buying more cars than at any time in recent memory.
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so the broad-based nature, liz, of the growth that we're seeing not only last month, but over the last year or two is a real source of optimism, and it's why a number of the economists and experts that you quoted are bullish about the future. liz: this must be a nice month for you because there are naysayers out there, and, look, it is our job to not sit there and wave the american flag and say yea, it's our job to look at some of the negative possibilityings. this time around you do get a sense that a lot of people do like this number. let's just quickly touch upon what you see, because it is your job to look for the so-called black swans before they take flight, before they leave their hidden nests and get right in our faces. what are you worried about, secretary perez? >> well, you know, we have some what i call enviable challenges right now. they're challenges, but they're enviable challenges. i talk to employers all over country, and one thing i hear the most is, tom, i'm bullish about the future, i want to grow my business, and i need to make
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sure that i have the skills to succeed today and tomorrow. and that's why one thing we're doing -- and we're doing this together with republicans, this is not a red or a bluish shoe, this is a red, white and blue issue -- we are transforming the way we are upscaling america. we are working with our partners in state and local governments to build a demand-driven work force development system. you know, the old model is it's what i used to call train and pray, you know? you train widget makers, and you pray someone's hiring. now what we're doing is we understand the needs in various sectors. we have a very precise understanding of how many phlebotomieses we need, how many advanced manufacturing and in particular regions of the country, and we're matching that demand working with the secret sauce of community colleges to help lift people into these really good middle class jobs that are existing right now. liz: that is -- >> and that's a really important part of why people are
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optimistic across this country. liz: yeah. i think more companies should work with local universities to train for the skills gap and to fill it. great to see you, secretary perez. >> always a pleasure, liz. have a good holiday. liz: and you too. thomas perez, u.s. labor secretary live from d.c. closing closing bell, 49 mis away. we're watching the markets every step here. after two high profile deaths that have resulted in demonstrations around the country, now many more police officers nationwide are either wearing body cameras or demanding that they get them. is this a good move, and who is the company that could profit most from it? we've got the ceo of the company that makes the police cameras that just rolled out today in a pilot program in new york city. we will ask steve ward how it's going. it's only a few hours old. and rocky survived apollo creed, clubber lang, ivan drago, but he was defenseless against a cyber attack on sony.
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what do hackers now know about sly stallone as well as other high profile actors? it goes way beyond their salaries. who was responsible? was it north korea? was it an inside job? somebody much closer to home? adrienne, yo, i've been hacked. ♪ ♪ she's still the one for you. and cialis for daily use helps you be ready anytime the moment is right. cialis is also the only daily ed tablet approved to treat symptoms of bph, like needing to go frequently. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long term injury, get medical help right away for an erection lasting more than four hours.
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liz: 34 minutes before the closing bl rings. look at the session highs where the dow came within nine points of 18,000. right now, though, we're at 17,957. we've come down, we're up 57 points. again, high of the session we were up 91, but let's take a look at the dow 30. and it's not necessarily all green on the screen. we do have laggards like cisco, walmart, chevron, verizon, caterpillar's in there, but the real winner today, jpmorgan. jamie dimon, the chief guy at the very top, saying no signs left of the previous cancer that he had had, so that's definitely good news. and on top of it, the financials are all doing wonderfully. goldman sachs jumping around $3.91. dupont and pfizer, we've got j&j and american express rounding out the top five. sony, ticker symbol sne. the hack attack seems to grow
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more mysterious and confounding by the minute. first it was leaked movies and computers that were essentially left for dead, then all of the fingers pointed to north korea. that was then followed by a few new theories that it could have come from inside sony, an inside job. now we have learned that hackers leaked the social security numbers of more than 47,000 current and former sony employees. that would include a bunch of celebrities like sylvester stallone. adam shapiro's been covering the story. adam, this is all hurting sony. the stock is basically at a 52-week high, and i'm just wondering if that movie, the interview, about the north korean leader and how there's an attempt to kill him might make everybody want to see that. >> we've talked about it on almost every program on fox business and keep showing the clips from it, so, you know, this is one of those mixed blessings, although i think the 47,000 employees at sony would have wished this did not come about because, as you say, these
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social security numbers and the employees at sony including the top guy are now out there as well as his credit card numbers and corporate passwords. but also in addition to the people whose social security numbers have been compromised, there are details from e-mails that went back and forth between sony employees as well as details and contracts. apparently within sony pictures entertainment, they've been critical of their own product, one person writing stop making the same safe, soulless movies and tv shows, you enough with te remakes and reboots. liz: that's from an executive. >> that's right. but that's the internal bickering you would imagine -- liz: well, good for them. i see nothing wrong with that. >> are you an adam sandler fan? is. liz: not really. except his hanukkah songs. >> okay. but his movies make huge bucks for sony. they might be bland, that was the term, soulless, you know, but they make big bucks for sony and for the investors.
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these e-mails critical of that kind of stuff. but this movie, "the interview," apparently james franco and seth rogen have been paid, row again $8.4 million, and james franco, $6.5 million. but it's the details that are being leaked that might be embarrassing depending where you live. apparently sony, in an attempt to control costs, instead of hiring a car service paid each of them $15,000 to drive themselves to work. now, think of that the next time you're sitting in traffic or trying to find a parking spot in long island so you can get on the long island railroad. [laughter] the other issue that is raising eyebrows -- liz: by the way, it takes one month or two to make a movie, so -- >> $241, this was the one, remember sesame street, your kids, you know, one of these things is not like the other? $241, according to the e-mails, for a table of weed, coke, pills and panties. i'm going to leave it there. liz: well, i mean, that's a
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pretty good deal for -- some would argue, right? >> they got it at amazon perhaps. coca-cola -- liz: as a business network, i look at this and i believe that the movie, "the interview," is going to get a lot more people to come see it. >> absolutely. liz: it actually looked kind of funny in the trailers. i might not normally see it, but this is free pr. i know sony would rather not have had it this way. >> they're still having trouble, they're having to do everything when they pay their accounts, they're having to go through cash, they're literally rebuilding their computer systems. liz: adam, thank you very much. obviously, there are many more shoes to drop. 47,000 people, you can bet there are more celebrities involved. uber anticipation ahead of a possible ipo. charlie gasparino just yesterday told you how goldman sachs was basically working for free to try to curry favor with uber, the car service company, ahead of its eventual ipo which values
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it at $41 billion. it's hot, but there's been some controversy. now charlie has exclusive details of another major bank that's turning its nose up on cozying up to uber. we're going to hear which bank that is. very interesting. they're not giving in to that hype. and shooting 3600 miles into space and coming back to earth with a splash, nasa's orion spacecraft ushers in a new era of american space travel. we'll tell you which companies are behind it and how their stocks are reacting on this record-breaking day for stocks. are you watching your money? you cannot tune out. ♪
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liz: well, forget this week, uber has been all over the news over the past couple months. mainly for its massive valuation of more than $40 billion and who is competing for it? and now who might not be competing for it. charlie gasparino is here with the latest. >> we should point out that dan at fortune wrote a pretty fascinating story how
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goldman sachs through its retail investors are shell selling shares, convertible shares. everybody thought they were doing this for a low fee to help retail clients. they do have a retail client base that buys stock through brokers. we should point out anthony scaramucci used to be a broker at goldman saks. people thought it was shrewd mood. helps retail clients get in on uber-ipo potentially early. helps them curry favor with uber to get potentially to be the underwriter. here is what we do know. over at morgan stanley they balked at doing same thing through their retail client base, obviously the biggest on wall street, 18,000 brokers. why didn't they do this? the terms uber was demanding, type of valuation it would sell at, it would hurt or put their retail investors at a disadvantage over other investors already into the stock. liz: wow!, they're being nice about retail little guy?
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>> one of the whole quirks in this the financing arrangement goldman has in order for retail to make out as well as existing institutional investors, valuation of uber has to raise $52 billion. we know it is 40 billion. a lot of people think that is insane. they have to do ipo. i think they will do ipo. everybody on the street does ipo. suppose they sell it, it is unclear, if they sell it or remain private we don't know how these retail investors will benefit. now one other point. this is a fascinating point and i think morgan stanley deserves some kudos for this goldman essentially sacrificed, way of looking at it, they have no comment, we asked them for a comment. if you have look at it they sacrificed retail clients so their investment banking team could curry favor with usual before. ie this deal is obviously less advantageous than current
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institutional investors, value has to go up and what if it doesn't? they sacrificed in to help their investment banking team win the deal. they basically courtroomed a less advantageous deal down the throats of their retail investors. that is what people at morgan stanley, that's why they were against this deal. liz: but is this the company to be doing that? i mean i'm not sure there are many adults over there especially considering they had that one top executive basically saying, oh, let's do a smear campaign on reporters? come on. >> liz, i will say this, the street is going absolutely like -- liz: they want in. >> forget about love affair. this is like, you know, this is insane. >> equally as interesting then is that morgan stanley is showing caution. >> they showed caution and i, despite the fact that you know, if uber ceo said, you know, come here and do x, y and z in my house, fix my house up, i could
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see goldman sachs and -- liz: sending a plumber. >> sending plumbers. walking the guy's dog. they would do anything to get this deal. obviously they did anything here. liz: i don't like that. it could bite you. >> could bite you in the end. i think it could bite you when research reports start coming out and goldman starts flaking this as gazillion dollar valuation and first day shares go down. liz: twitter. >> twitter. this is interesting story. morgan stanley balked at financing arrangement. a goldman saks a lot of people say took these arrangements, sacrificing their retail clients to help their investment banking. >> giving me a wrap. you saw dick costolo of twitter sold quite a large portion of his family's position. >> i wonder if he will stay there. abbott and costello. liz: i don't they had he has been the worst thing. >> you hated him weeks ago. liz: i don't like he avoided us. >> cnbc hates him?
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liz: cramer basically said he was disaster. i disagree with that. >> he is a disaster, no? liz: he wasn't in the first part. he brought them up to speed i think. >> yeah. you know, cnbc kissed their rear end so much, like, now after the whole thing has blown up, they're like, bringing him -- liz: check out charlie's articles. >> why are you saying that. that means i have to write something. liz: i'm sorry. he actually has to do little extra. >> i have to work on friday. >> charlie, thank you. closing bell 28 minutes away. weeks of violent protests what law enforcement agencies and white house fishes scrambling to repair relations to the general public but come up with a solution. here it is. body cameras that record every single movement an officer takes. we're introducing you to the ceo of the company who makes them and got a massive contract. as the dow inches towards dow 18,000 record level, what should be your strategy to play
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this market? stick around to hear our supersmart panel's advice. ♪
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how much money do you have in your pocket right now? i have $40, $21. could something that small make
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an impact on something as big as your retirement? i don't think so. well if you start putting that towards your retirement every week and let it grow over time, for twenty to thirty years, that retirement challenge might not seem so big after all. ♪ liz: 23 minutes until the closing bell rings. look at the dow and s&p. both of them hit an intraday record today but right now they're off their session highs. we're still seeing very decent gains here. there are dozens of big, widely-held companies hitting lifetime highs today. we thought, you know what? give it to nicole. give us some winners here. i will take a loser or two if you want. >> there is so much going on here as we go into the closing bell. first we got very close to the 18,000 mark. didn't hit. but set records for both dow and s&p 500.
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financials did very well today. we've seen names such as jpmorgan hitting a high today. other names such as goldman sachs, dupont, intel, travelers have been hitting highs today as well. intel, best performer on the dow for the year 2014, up 45%. followed by united health. microsoft, plenty of winners. bring it over to the s&p 500, we're watching that. see again those financials. this is on heels of a great jobs report. higher bond yield. see a name like wells fargo moving higher. northrop grumman got put on conviction buy list over at goldman sachs. starbucks, positive analysts comments, plus introducing beer and wine. that should introduce their revenue. retail, this is a different picture. just like yesterday we're seeing a lot of retailers under pressure. american eagle getting hidhit hard. double-digit percentage losses today on we would close at record highs. we're watching 2074.33. we are right near there for the
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s&p to see whether or not we close for a record. if the dow we close here that in fact would be a record. liz: i'm looking for example, at nasdaq 100, nicole. if we're looking losers, we have to balance it and love our short sellers too, priceline is pulling down $4. i'm looking at some of these other names. you have ross stores which of course is a retailer. >> retailers were hit hard. liz: exactly, exactly, and that's a pretty decently held stock there. sba communications is moving lower. really overall we've gotten a much stronger position for the win column for what is going on in nasdaq. it is up six points, very close to the year-to-date high here for the nasdaq, 4776. from protecting yourself against email fibbing scams to a phishing scams and county down had you covered on what happened this week. here is what is worth repeating. >> very traditional retail
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machine this is example from walmart. they send it to you. we couldn't complete this transaction. click here to give us information so we ship it to you. you go to click of course and you're supposed to download a document. when you download the document they infect your computer. liz: hold on a second. >> all sorts of nefarious things. >> it is a worldwide customer we're after. it is not so u.s. focused anymore. jeep is exploding around the world for us and cherokee. >> we're trying to use data from the report to just help figure out how we can make our business model more transparent. we want customers to understand exactly what they get when they buy a ticket on spirit airlines and what they should expect. what they want is a surprise. don't think you will get a t-bone steak when you buy a hamburger. >> we're not a typical retailer. we don't report results as it relates to any particular season or metrics but i can tell you we were thrilled so that. liz: that is good enough.
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>> that gives you good indication. it was good. liz: big news of course this entire month has been what's going on around the nation when it comes to police agencies and how they can better figure out how to get all kind of, because you know stuff that they can then present in court because of all the drama that happened out of ferguson. what is the solution to addressing the racial tension and protests that have followed ferguson and of course the high-profile event here in new york? there was the chokehold death of a man in new york city. police body cameras are previously too expensive for smaller market average police departments but a new white house funding program is now dedicating $263 million over the next three years to help these stations purchase the camera equipment. here now is the number one police body camera maker, founder and ceo steve ward. and the big news today is that the nypd in new york launch ad
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body cam pilot program using a lot of your cameras. have you heard any feedback how that is going? >> thanks for having me first of all. liz: sure. >> no, i have not heard anything from new york yet but we're very excited to be offering them our products. liz: well, it is being launched in bronx, in harlem and some public housing project areas. in jamaica queens, all around the city but right off the bat the question is why is this money well-spent beyond a businessman's perspective? >> well you know every community wants to see what their police are doing. so our cameras allow every community to do just. that they see what goes on day-to-day in the police department. at the same time it provides great tool for local law enforcement agency to protect themselves from liability this is huge win-win. liz. huge infusion of cash. that is great problem to have for a lot of companies but you have to keep up with demand.
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are you ramping up your manufacturing? where do you manufacture these things? can you keep up with the demand? >> yeah, well we, obviously we are ramping up and we're highly scalable. and we're ready for this onslaught and gearing up for when i started company in 2007. liz: i'm taking -- talking major expansion on your behalf. by the way you're not only game in town. they're using tasers. you used to work with taser. then throw in gopro here. they're smart enough to look at this as a opportunity. how do you maintain your lead here? >> there is couple of ways. i have a police background. many in our company have a police background. we make our products simple and easy to use for the police officer in mind. more importantly, this is all we do. this is our focus. there are a lot of other competitors in me-too market. they wasted millions of dollars making multiple products that
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don't suit the police market. liz: steve, good luck to you. keeping up with the manufacturing and the demand. certainly good news for your company thank you. >> thank you. liz: vievu founder steve ward. closing bell ringing in 17 minutes. dow surging to new intraday highs. you're watching it. 18,000 level seems to be slipping out of our grasp. we're heading into the final minutes of trade. can we see a surprise further move to the upside. we're watching your money. da ♪ protecting my future. thank you for being my hero and my dad. military families are uniquely thankful for many things, the legacy of usaa auto insurance could be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life.
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liz: fox news alert. the most perfect flight you could ever imagine. that is how nasa described what you're looking at, today's unmanned test flight of the
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orion spacecraft t launched from cape canaveral this morning, traveled more than 3600 miles above earth. see how pretty that looks? then here we are, landing in the pacific four 1/2 hours later. rocket was build with partnership between lockheed martin and boeing. look at stocks that might be involved. we have orbital sciences and loral. boeing up 70 cents. orbital sciences is up half a percent. strong jobs report today. yeah, that sent equities rallying. we're losing steam with the rally. s&p is turning negative. the dow for its part is less than 60 points away from a record 18,000 level but still on track for another record close this second. look at the treasurys. benchmark selling off immediately upon the solid jobs report. 321,000 for the month 6 october. will this strength continue into the new year?
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we asked the labor secretary. he said don't worry about it, the real job growth came from business services and construction. those are not day or temporary jobs. what is the best way for investors to play the upside? bruise kazman. and andy brenner. welcome to you both. bruce, i will begin with you. this jobs report number today, did it make you change your s&p target for next year or rethink anything you felt up until today? >> not really. i think it gives you confirmation that the economy is carrying solid momentum. that equity markets will continue to do pretty well here. i think this is very strong report. it's job gains and it's breadth and income implication this is very good message for the economy. i would note that the economy is slowing in the fourth quarter as we see it. job growth of income does involve some corporate profit margin squeeze in the near term. nothing to worry about. don't expect 300 jobs on regular basis but a very good report.
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liz: all right. not on a regular basis but now we turn to the bond guy, the fixed income guy and that's andy brenner. when you saw this number how are you looking at investments you are pushing to your clients? >> one of the things we saw obviously treasurys sold off on the knee-jerk reaction but one of fears we have with the fed getting between a rock and a hard place with 3.9% gdp growth and strong payroll number will they start tightening sooner rather than later? will that cap off what the equity guys have been doing? even if you have a strong economy if the fed starts tighten you could see a correction in equities soonwer a stronger number. liz: sounds like you believe the scenario may play out. would you go heavy, for example into corporate debt or sovereign debt? where is the best p>> i don't sn sovereign debt except for greece. i think everything else is overpriced because of ecb and
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what the fed has done. general corporate debt is also very expensive. we've seen it widening out. with the oil debacle of the last two months going from you know, 90, to 100 down to 65 and change, the oil, the oil bonds that, high yield oil bond have really got endecimated. for a trading play i think that actually makes sense. just look at it this way, if the economy is doing well, oil will come back. oil comes back, oil bonds will bounce back. liz: bruce, andy just really laid out the opportunity i think for some corporate debt names. we'll get one from him in just a minute. how do you feel about equities? we'll throw that in your lap. >> we are in world where we expect to have the fed start to move. equity markets will have a bit after rocky ride. we're getting message of rebalancing and income. economy doesn't vin nation problem over the horizon. we're setting ourselves up for a healthy period.
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leaving aside volatility, equities remain attractive asset. liz: are they expensive, bruce? are they getting fully valued or tipping on the heavy side of expensive at this point? >> from my point of view i'm not a stratgift but i would say there is plenty of growth left in this economist. i would say something that is being undervalued what will happen in the economies in europe or japan over the next year. they're ben fishes of the fall in -- beneficiaries of energy prices falling and there are signs picking up. there are stories of global equities picking up postively along with the growth dynamics. liz: beaten down areas, bruce, you feel are poised to look better. andy you like one area of corporate debt. that is one company called sampson. we can show the high yield debt. sampson energy, what is the return here on this? >> sampson energy is one of many bond that have really gotten kicked pretty hard. liz: look at this fall here. >> basically traded as i was walking out of the office around
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$54 price today which is 26% yield. you're not really looking at yield but a lot of energy related bonds have gotten hit pretty hard. you want to buy something with upside. i don't see a lot of upside in equities. i don't see a lot of upside in treasury bonds or european debt. 10 year italian debt is under 2%. it went out 1.94. it has got five times the credit default swap of u.s. it just makes no sense to me. liz: it is great to see both of you. bruce, i like your opinion on equities. we'll see if it plays out that way. bruce, jpmorgan chief global economist. andy brenner, your energy and greek debt on on the forget dow 18,000 today, we'll probably not hit. that but we still could have record close. we seen 53. started hour at 45. knew it is 53 s&p 500 companies
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hitting all-time highs. we'll tell you who they are and do you own some of these? halle berry sizzles on the big screen but what about the boardroom? we'll tell you a company she has taken a huge stake in. we'll hear from the actress herself. she is turning the business tables. watch this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled... ...copd maintenance treatment... ...that helps open my airways for a full 24 hours. you know, spiriva helps me breathe easier. spiriva handihaler tiotropium bromide inhalation powder does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva. discuss all medicines you take, even eye drops. stop taking spiriva and seek immediate medical help if
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liz: listen this, is a close one. by a whisper here the number to watch for s&p is 2074. we're just a point or two away from an all-time record there. david: the dow is definitely record territory. 912 is what it had to be. 950 right now. very close. edging ever closer to 18,000. liz: nicole, you're at new york stock exchange. we're getting so close to 18,000 but let's look at some top performers, let's go back to dow 17,000, if we could. >> that was five months ago, in
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early july. some of the best performers since then, nike, home depot, intel. these are some of the names accounted for this. visa, goldman sachs and nike. david: there is downside just about every day. oil is down and energy stocks bet getting hit hard. >> one trader had his dow 18,000 hat ready to go. not quite today. it is down 2.6, chevron down 1.3. liz: the consumer must be feeling good. two big credit card names hitting lifetime highs. >> mastercard and visa. this is such a different story than some retailers who have been not so great. david: retail has been killed. financials have been having a good day. >> art cashin note the bond yields moving higher.
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ultimately that is good news for financials in that environment. [closing bell ringing] liz: morgan stanley up another percent today morgan stanley is back to where it was before the lehman brothers bankruptcy in 2008. the financials looking absolutely terrific. let's see how stocks finish the day. we're not quite there from s&p. we're there? we made it. >> look at that by one. by one point. >> it is indeed a record. same for the dow jones industrials on this friday. looks like real strength in russell 2000. that is the biggest percentage gainer. this is broad-based rally that began 8:30 a.m. eastern. when we got jobs number month of november surprised well to the upside. build of 321,000. there is still much to talk about. "after the bell" starts right now.


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