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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  March 11, 2015 3:00pm-4:01pm EDT

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today, "countdown to the closing bell" starts right now. liz: fearing the fed, specifically rate hike, are investors over it? green on the screen. is june a rate hike sure thing? the fed whisperer, jon hilsenrath on the two things the fed may be about to announce. today the lines are anything but blurred when it comes to knock off other people's music. marvin gaye's family twisting the knife, asking a judge to stop all sales of robin thicke and pharrell williams hit "blurred lines" after the jury found they ripped off gaye's sound. you heard it, melissa, the attorney representing gaye's family what did it for the jury and whether the knife will stab at pharrell's most famous tune, making pharrell very unhappy. walking dead. make believe, right? not so fast.
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ghouls are alive and war since the civil war. they're on the government's payroll and you're paying for it. we're watching oil very closely, and we are very much alive. there's a lot going on, no zombies here. start "countdown." . breaking news, the markets are back in the green after shedding earlier gains. it is oil you really need to watch following the energy information administration's report of a larger than expected build in crude inventories last week, bringing all inventories to 80-year highs. how much will that push prices lower? we get to the floor show along with traders at the stock exchange, the cme group and the nymex. we have kevin kerr, kerr international trading president. with oil, it does matter to every consumer watching, it's affecting still to come stocks
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but this inventory number pushed up higher, ninth week in a row. when do we see prices going lower? >> 80 years of stock price, we have so much on hand right now. over 50 million barrels in pushing alone. we are seeing the prices continue to drop and probably see lower price. i'm thinking we're going to see the $45 level tested shortly within a few weeks. we have no buyers coming into gobble the supplies. we're at multidecade highs in supply and it's going to continue for some time. liz: luke, you're at the nymex, not a huge move in oil today, moving lower once again, we are almost topping out at full capacity at storage tanks in curbing, oklahoma. once you have that, they have to ditch capacity, right? >> yeah, capacity and also production. the numbers came out and oil went down initially but hung in there well and towards the end of the day ended up flat. the dollar, again, that's a big
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mover of oil prices and the other thing is a little bit of disconnect for consumers between oil prices and unleaded gasoline prices. there's only unlimited refining capacity and a lot of oil. i wouldn't look to see the oil price movement. do the consumer a lot of good. liz: this is amazing, we were showing the dollar now. two pennies less expensive for a euro than just two days ago, a buck5. i was in london a year ago and paying through the nose. u.k. pound at $1.49 much lower than the buck 72 i was paying. this is swapping other currencies. steve at cme, why is the market higher today, simply a slight bounce off the bottom of the 332-point loss yesterday? >> i think the market momentum has shifted and we'll start to sell-off. primary focus is next week's fed meeting.
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drop the word patience. once we do, that that's going to clear the way for the june rate hike. traders are nervous, they're worried about anything revolving around real estate related stocks, you're going to see a reposition in the markets and see lower prices for the s&p. liz: yeah, and we've got the s&p at least slightly higher by about 2 2/3 points, don't let this fool you, two days ago we were up more than 100 points. kevin, how much does oil have to do with it, i don't want to miss that story. let's explain to people, the kushing whether it's the salt caverns or the areas where they safety oil and store it up. 66% capacity. how many more months or weeks before we hit total capacity, full? >> moving quickly, liz, saw 2.3 billion more in storage this week alone, and growing
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quickly. could be at capacity within a month or so. and the soft prices will continue until that quantity gets used up. but again, the big linchpin in our opinion is when are the saudis going to cut protection, and announce that, next move down could precipitate that. liz: they won't. but we have huge other questions, and that vaults the fed. thanks to our traders, kevin kerr, and we also thanks to our traders. i need to get to jon hilsenrath. breaking news, the fed has officially begun blackout period ahead of next week's federal reserve meeting. one thing we may see is the fed dropping promise before acting. number two, will that mean that june is a sure starting point for rate hikes. if anybody knows it is hilsenrath, "wall street journal" economic correspondent. will will word patience will removed from the fed's lyrics?
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>> it looks like it will. they're meeting next week, a lot of fed officials have been talking about taking the patience assurance out. what that means when they take it out is that they have the option to raise rates in june but doesn't mean it's a sure thing. liz: not a sure thing, the next opportunity would be september, correct? >> right. yeah. so basically what they want to do is right now as long as they're saying they're going to be patient. as long as they're saying they're going to be patient, that means they're not going to raise rates for the next couple of meetings. if they want to have the possibility to raise rates in june, they've got to take patient out now. they take it out in march and wait and look and see how the economy does. you know, one of the things we talk about in our story today about all this is the wild card for the fed is the inflation outlook. they're happy with how the job market is doing. unemployment is coming down. companies are creating a lot of
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jobs, very uncertain about inflation. they wanted it at 2%, running under 2% for 34 straight months. they will raise rates when they become confident that inflation is moving back up to the 2% level. liz: always. by the way, so the blue line is inflation. the yellow line a near zero fed funds target rate. let's give people a little history lesson. paul volcker in the 80s had a completely opposite problem. folks, i don't know if you know this, he tightened rates to 20% because we had skyrocketing inflation of more than 11%. unemployment 10%, and you know what it did? it saved the nation, solved the problem. why is everybody so scared of a half a point tightening, when he was at 20% interest rates? >> you know, like you say, the problem we had back then was inflation was way too high, and he raised rates to bring it
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down. the problem yellen confronts is inflation has been too low and it's been low, it's been below 2% goal for three years, basically for most of this recovery, inflation has been below their objective. the market, i think, people get very excited about a possibility of one little move by the fed, but because inflation is so low, when the fed moves, it's going to be a little move, they're not going to be raising rates the way paul volcker did 30 years ago, they're doing it in small incremental steps. liz: all the more reason not to fear it, and the market would grow up and not gyrate and spasm over this. best guess, rate hike in june? >> you know what, what i'll tell you is i think they're going to drop the language in march. i don't know enough about the inflation outlook right now to say they'll do it. i'll tell you, your viewers, totally depends whether they are confident that inflation is going back up. if we see the dollar getting a
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lot stronger, that puts downward pressure on inflation and could make them hold off. liz: watch the u.s. dollar, jon says, jon hilsenrath from the "wall street journal." closing bell, 52 minutes away. the stunning court victory you all are talking about for the family of singer marvin gaye. the lawyer who scored the upset victory over "blurred lines" authors robin thicke and pharrell williams is standing by live. we ask, is there another huge selling pharrell hit on the firing line? and hate the hassle of returning online orders, there san app for that now. the ceo who has your back in ship shape. ♪
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initial public offering in january. we're going to have the numbers for you the second they come out on "after the bell." this second, a jury's decision is rocking the music industry literally. look at the california courthouse steps after the jury found that music superstars pharrell williams and robin thicke ripped off a decades old marvin gaye song. that's the gaye family, thrilled with the verdict. the two stars are ordered to pay 7.4 million dollars to the heirs of marvin gaye guilty of copyright infringement. you be the judge, listen to the song in question, "blurred lines." ♪ i know you want it ♪ i know you want it ♪ you're a good girl ♪ can't get past me >> it's a catchy tune, does it sound too familiar to this one? ♪. liz: very similar, right.
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the man who proved to the jury there was a clear copyright violation is here with us now and did so without even playing marvin gaye's song during the trial. richard bush, partner at king and balo. welcome, richard, thank you for joining us. right off the bat, the melody, the harmony, the baseline, keyboard party noises, the choral projection. what did it for the jury? we just lost him. we'll get him back in two seconds. i just a the dow, the nasdaq and the s&p down. we were gaining, folks, we were up 30 points for the dow industrials, but we have struggles here on what's happening now. now as you see, the dow jones industrials a good 40 points away from dow 18,000. that went in the rearview mirror the day before yesterday -- yesterday, rather, when we lost about 332 points.
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you can see it struggling here, just at the flat line for the moment. and as i promised, took just a couple of seconds to get him back. richard, are you there? richard, you can hear me? >> i can. liz: good. i began to start with all of these things, the melody, the harmony, keyboard, party noises, choral projection, which element did it to rule in the gaye's family favor? >> i think all of it. we had excellent expert witnesses, we had judith vernel, ingrid munson. they spelled it out. broke it down compositionally and showed it was not the taking of an era, genre as mr. williams wanted to say. the taking of the composition, all of the elements. the constellation of the star elements. >> constellation of the star elements. you won, despite not being allowed to play marvin gaye's
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song, were there jurors who had never heard that song, "got to give it up"? >> i would assume yes, and that's very interesting, because they other in media said they didn't copy but fought tooth and nail to prevent us from playing the music. we were able to play excerpts and compare it to "blurred lines" and show the taking was strikingly similar, that it was the same notes. it was nearly identical, bass, keyboard, vocal harmony, same structure and the jury saw it. liz: now you're having to entirely shut down the sale and distribution of a the song as pharrell and thicke say they're going to appeal. will you settle for a lesser amount if they back off their threat to appeal? >> i can't say that we will. we won this case, they put us through. this remember, they filed this lawsuit. they started this war. we finished it. but they started it, and so, we're going to ask for an
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injunction, try to cease the sell of "blurred lines" until we can reach a deal where we can share in future revenue where the gaye children can share all moneys going forward. liz: you are not going to say you would settle if they back off the appeal? >> i don't think they have a valid appeal. they won every evidentiary ruling they wanted to win. stopped us from playing the entirety of the song. if we would have played the entirety of the song, it would have been a landslide. having achieved the evidentiary success they did, i don't think they have a valid appeal. they can say they're going to appeal. we're not going to worry about that. liz: sources are telling me in los angeles, the next song in the crosshairs is unbelievably to me pharrell's "happy." it won a grammy, very popular song. when i asked my sources, they said listen to marvin gaye's "ain't that particular." listen to a few bars of happy and then marvin gay's song.
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♪ might be crazy what i'm about to say ♪ ♪ sunshine she's here >> now here's marvin gaye's 1965 song, ain't that peculiar, listen. ♪ honey, you do me wrong but i'm crazy about you ♪ >> okay, so mr. bush, are you going to sue pharrell for copyright infringement involving happy, is that next? >> sounds similar to me, but i have no plans and i have no information that the gays plan anything like that. >> the gays have been asked about certain songs and brought up, yeah, ain't that peculiar? this point, i'm wondering what was their first reaction, richard, when the verdict was read and when you were really able to hear from them? >> satisfaction, relief, happiness. they did this for their father. they did this for their husband, because he couldn't be here do it for himself.
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and they truly, truly wanted this for him and for his legacy. so that he received the proper credit. i can't emphasize enough. we did not file this lawsuit. they did. they thought that the gays would shrink away like shrinking violets and wouldn't have the wherewithal to fight. this they bet wrong. this was their fight that they started. we ended it. liz: this is so amazing that they poked a sleeping tiger in a way. as you said, they filed a preemptive strike, because what? they heard people were comparing the two songs? >> they heard people were comparing the two songs and quite frankly, they were upset that the gayes had the temerity to actually question whether "blurred lines" copied "got to give it up." and being who pharrell williams is and robin thicke is and the machine they had behind them, they thought they would scare the gayes into going away and got bad advice.
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liz: maybe i'm an old fogy, my first thought when i heard "blurred lines" is oh, they're playing marvin gaye's "got to give it up." it wasn't that, it was "blurred lines." >> and you're not the only one. jan gaye, who i want to thank for having the guts to do this, and i want to thank marvin levinson who had the foresight as well. liz: i don't think that issue is over, i think the ain't that peculiar issue with happy is going to rear its head. thank you so much. >> thank you. liz: richard busch, the attorney for gaye family saying he fully expects the other side to drop its appeal because, as he says, he doesn't think they stand a chance. the closing bell ringing in about 40 minutes, and you know that "60 minutes" report that sent lumber liquidator stock plummeting? hedge funds are saying not so fast.
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charlie gasparino with a warning for short sellers of the flooring giant. he's coming down right now. you got to hear this one. don't let the house is you ordered from zappos, you want to return them. the hassle of returning anything is a nightmare. ceo of the company that's going to take care of it with a click of a button. let's shyp it.
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. liz: hold on, hold on, pulling up lumber liquidators and the stock is up 11%. the liquidator's story continues wild ride. new twists and turns, the stock
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take a big hit after a "60 minutes" expose more than a week ago claiming the company's products contain high levels of a cancer-causing toxin that came out of china. now the stock's skyrocketing as more questions emerge how the testing was done? charlie gasparino on a beware to short sellers. you just got off the phone with "60 minutes," correct? >> they started screaming at me, they didn't like the report and said they didn't know they were -- i put they did not return a call for comment. which they did, i spoke to them last week, and comment if you want, london lennys. liz: lumber liquidators. >> they are questioning the methodology how you tested this and never got back to them. tough luck to them, the shoe is on the other foot, gentlemen, call me when you want, and we'll put your comment on the story. liz: literally screaming? >> yes. liz: a spokesman for "60
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minutes." >> some guy named tadesco. do you know him? liz: no. >> cnbc is catching up to this today. liz: you reported two days ago. >> i did on your show. this is a bit of a show, cnbc is making it, they book their guests after they read our stories. just so you know if you're looking to play stocks and invest, they're a day late. on top of that, to the wapner had him on today making it news, you heard it on fox business first. what we reported exclusively, courtney crawford, my new producer did an excellent job reporting on foxbusiness.com, the main reason why the stock is up, they found the methodology the hedge fund says is lacking. if you break down and do the chemical testing of the
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laminate, the lumber liquidator laminate it falls within the parameters of the u.s. guidelines and doesn't have the extra carcinogen. liz: even the stuff from china? >> that's what they're saying. we should point out. this is what hedge funds are saying, "60 minutes" don't have a comment, there are other people that defend their reporting. we went to the lab. people at the lab, that tested it, we called the lab, they say they did everything on the up and up and talked to a trade association that deals with u.s. manufacturers of flooring products. it's in the story, at foxbusiness.com, check out the story where they point-blank said the stuff from china definitely evades u.s. regulatory guidelines and in china when do you this stuff, it's like the wild west. so "60 minutes" does have defenders but i will tell you this. i have no horse in this race, and i hope the products aren't
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bad and i hope they aren't bad so people don't get sick from them. there is a general feeling in the market that "60 minutes," and the market might be wrong, markets are often wrong. this is why the stock is up, that "60 minutes" did not test this the right way when they tested it. they tested it in a manner that purposely would fall outside of regulatory guidelines and if they tested it the way they're supposed to test it, and i'm not an expert at flooring. that's one of the things of journalists, we are generalists most of us, we have background in business, which i do, and tested it the way they're supposed to as a complete unit as opposed to each individual element in the laminate, then it passes the regulatory muscle. liz: it does not surprise me that stuff coming out of china is a mess. >> me too. liz: baby formula, poison. foods. >> we should point out the
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china stuff represents a portion of lumber liquidators product. liz: good point. >> when you take down a stock this much, you wonder, is it worth it to take it down this much? liz: okay two, sets of viewers, the consumer and the investor and i think the point you just made for investor is there might be an opportunity for some funds and some people who you reported about two days ago to go long. >> you are right about that. not just that, it's that if they really did, if they measured this in a way that was set up to fail. that's a problem, and we'll see, more of this will come up. i don't think anybody is saying this is the worst reporting in the world, but hedge funds are taking issue with it, they believe there is value of the stock, trading it up. who knows what happens tomorrow? liz: show a two-week or one-month. bought at the low?
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it hasn't regained all of its losses. >> no. i covered this on facebook, tomorrow stuff comes out that this is indeed toxic material. liz: you're on it. >> i'm all over it. liz: and others will follow. >> and scott wapner will do the story. liz: charlie, thank you very much, charlie gasparino breaks it here, as always. also, you cannot miss this, another episode of fox's new hit series "strange inheritance." >> i love this show. liz: hear the story of the real estate developer who filled model homes with quirky furniture. kids inherit it 60 years later and discover the once obscure furniture maker was a world renowned craftsman and artist. valuable. "strange inheritance" airs monday through thursday 9:00 p.m., on fox business network. closing bell 28 minutes away, uber for insert something here. this one here uber for shoppers and returners. you want to return something you bought and don't want to
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. liz: stock alert, with 23 minutes till the closing bell. we have gains in three out of the four indexes. the russell clinging to half a percent. nicole, we thought we had a bounce here, but trader at the
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top from the cme said don't believe the slight bounce, and sure enough we have red on the screen for the dow, the nasdaq and the s&p. >> one noted a half dead bounce. tonight bring to your attention winners and losers. dreamworks makes a deal with verizon for over 200 hours of original programming. we're talking about awesomeness tv. that's all that stuff that's targeting the millennials. it has all the sketches and the hidden cameras and that's what they love. so this, the analysts say this is good news for dreamworks and verizon as it takes the focus off their competition such as netflix. on the downside, we're talking about tyson foods. tyson foods gets news today it is confirmed. bird flu found in arkansas. this is on the heels of it being found in missouri, that's problematic for the poultry company. and you actually have over 20
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countries now that are very specific about where they want to import u.s. poultry. and as we see tyson foods down over 5% today, liz, we're keeping a keen eye on mcdonald's. mcdonald's has been trying to move forward and really target the millennials and all the folks who want to be healthier and say they want chicken that is antibiotic free, mcdonald's listens and says they are doing exactly that and working towards doing exactly that. tyson gets tough news and sells off. liz: that was a stark sell-off for chicken. talk about online shopping. you are doing it so much more, exploded over the last two years, online returns, about one third, ready? one-third of all items bought online are returned. what a nightmare, repackaging and printing the label and schlepping to the post office. we hate it. start-up shyp is easy as
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pressing an app on smartphone and has huge backers ranging from facebook execs to kevin gibbon joins us now. my god, we're getting so lazy. everybody is starting a company to make sure we don't leave our house or lift a finger. this one is interesting. i would rather keep something that doesn't fit than go to the post office and deal with it. what do you do to make me not hate returns? >> trying to make it as easy as possible. we first started this company. it was just a design to ship out gifts, things you sold online. what we saw is people started using us to return online purchases. buy something on zappos, the shoes don't fit. print out a label and use us to send it. we launched this new product last week. making it easier. now, you don't even need to print the label off. enter the order number, we'll
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come to your home less than 20 minutes. take care of it. the packaging, if you don't have it and allow you to focus on what you do best. liz: for a $5 fee plus the shipping, you pick up anything whether it's a pair of shoes or a lawnmower? really? >> absolutely. with the returns product it's the $5 fee and the returns that you are used to with all the major retailers. if you use us to send a gift to your friend or send something online, it will price compare all the major shipping carriers and give you the lowest cost as well. liz: we love our start-up nation segment, we ask questions as a venture capitalist would. five bucks is awfully cheap, when you have a messenger spend that for gas money and car insurance to drive to another weigh station to package this up. how are you making money on this this? >> we don't have our drivers
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are not doing the packaging for you. we'll come to your home or office. take it back to central warehouses where we have professional packers, a whole system that works to effectively pack these things quickly and cost effectively. and how we make our money is on the delta between what our rates are versus what we charge which is retail. the same rates that you walk into a post office or ups you'll get charged, but we because we're a large volume shipper week make that delta. it's a higher, profitable business compared to a lot of the other services that are out there. liz: before everybody gets excited in akron, ohio and tucson, arizona. you are not everywhere right now, right? >> san francisco -- we just have been live 11 months in san francisco. we launched new york, miami and getting ready to launch l.a. we want to see this as many cities as possible. obviously, going into the larger cities first, but the mid to small towns i'd love to see it in as well.
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liz: yeah, des moines, where the weather is the worst, people shop online more. they don't leave their house. i would think that would be extremely helpful. you have the winklevoss twins who helped find facebook. what do you learn about people eventually taking it public? >> we surround ourselves with the best people. investors included, looking to get the most unbelievable talented employees, and this is a really big undertaking, it's not just a little app, this is a big business, it's difficult. we're moving items around the world. we have a workforce of people in the city. it's going to take a lot of very talented people to make this thing what we really want it to be. liz: well, again, we're becoming a heck of a lazy nation but i love it. are you going to put fedex and the post office out of business eventually? is that the real goal, kevin? >> those are our biggest partners. we're trying make it easier for
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consumers to ship things. we use them heavily. usps and fedex are partners to get it from warehouses to all the other places around the world. liz: a boltonability. it's great to hear about what you and shyp are doing, thank you so much. shyp co-founder and ceo, kevin gibbon. i hate returning things, i hate printing the label. closing bell, 15 minutes away, the battle of the banks. the fed in the next hour is about to announce which bank it will allow to hike their dividends, and to have share buybacks, which financial giants should you put your money in? you have 15 minutes. we've got answers for you next. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities.
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. liz: we need to quickly check one issue here, and that is the volatility index. it is now above 17. looking to close above 17. yesterday it was wow, it was above 16. more volatility to come is the big question. we're watching the volatility index right now as well as waiting on that second part of the stress test for the banks. it's the dawn of the "the walking dead" for real. a shocking new report finds 6.5 million american zombies are still on social security payrolls. some of these people have been dead since the civil war! as many critics point out, social security is already on the verge of going broke, so why are we sending checks to dead people? not all of them doing the thriller dance. and a party in the sky if you're traveling to the south by southwest festival friday. taking a party plane to texas. delta is doing this. delta is offering a brand-new boeing 737 party aircraft that
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includes perks like complimentary cocktails, expedited security and a chance to win first class tickets to global hot spots. before you get too excited, invitation only, folks. good luck booking your seat on that flight. speaking of hollywood elite, lot of talk about george clooney possibly rung for office. sadly, fox business' cheryl casone officially puts the rumors to rest. she caught up to the star at the 100 lives initiative gala in new york city. when she asked, he told her bluntly he has no initiative to run for governor. financial stocks still up ahead of this afternoon's bank stress test results. the 31 largest u.s. banks passed the warm-up first stage of the fed's annual test.
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shorty after the bell, getting results for the second and arguably much more difficult and important face of the stress test that will determine whether the banks and which banks are able to increase dividends and share buyback programs, billions are on the line. who will rise to the top? who will miss the mark? joining me mike holland, holland & company company and brennan, i begin with you, we are about 40 minutes away from the release of the report. who do you believe will do well? >> good afternoon, thanks, i think most of the market is concerned on citigroup. citigroup is the one major bank we've seen fail twice already, and so this is an extremely important event for citigroup. so i think when you think about the investors and the greatest amount of concern, it's got to reside in citigroup.
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most people say citigroup denounced business mix, subprime lending business here in the u.s., they're exiting 11 consumer markets across the world. so slimming down, derisking the business. we think that's going to play to citigroup's favor and they'll get the dividend from the fed and be able to buy back. liz: go from one penny to six pennies? >> i've got them going a nickel. we'll see. i think most of the money is dumped into the buyback. citigroup is trading below tangible book. when you have the ability to buy back stock that creates equity and value. liz: mike, we heard brennan, i'm hearing him say through that answer citi is going to pass and will raise dividend. do you like citigroup as an investment. it's up 2.25% that the second? >> the answer is yes, and yes, i think it would be a huge shot
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because people who really know the company are completely convinced that michael corbat told the people around him, we are going to pass the test. by the way, if we don't pass the test, we'll all lose our jobs, mine would go first is what he would say. with bank of america and goldman sachs are interest in the market as well. and goldman sachs got through the initial phase with a pretty skinny margin. people expect it to pass as well. bank of america after problems this past year misstating the numbers, i think citi will be the focus. liz: would you buy citi? >> i own it. liz: and you also own jpmorgan, they don't vey question mark over their head, right? >> no, not a surprise. jamie dimon, he went into 2008, 2009 with a balance sheet he referred to many times, overall
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he's done a masterful job running that ship. liz: 34 minutes before we get those results. brennan, is there a bank you would avoid right now? >> yes, actually. one of the ones highlighted there a moment ago, b of a. i'm nervous about b of a. liz: why? >> they've had several capital missteps over the last year. they had to use the mulligan and about a month after that, there was an error found in capital calculation, they had to resubmit and completely eliminate the buyback request. they have yet to exit the parallel run, running parallel in the capital calculations, advanced and standardized. all the major branches have exited the parallel. b of a hasn't. and most recent filing with the sec, they have an issue with the risk models. all of these put together makes me nervous, and i'm worried
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that on a qualitative end of things that the fed might have concerns about capital planning process. i think there is elevated risk there. liz: to both of you, the numbers come out at 4:30 p.m. eastern time. we're about 34, 33 minutes away from that. fox business will get the numbers and the stock reaction the second it happens. mike, good to hear from you florida. thank you for joining us. mike holland. >> thank you very much for interrupting my vacation. appreciate it. liz: you know you're sitting on a beach with umbrella and a drink. >> you are absolutely right. liz: and brennan hawken, research analyst sweating it out in manhattan, no umbrella in that drink. fair and balanced, you heard from the lawyer for marvin gaye's family about stunning victory in the music industry over pharrell williams and robin thicke. now we will hear in this hour, coming up the lawyer for pharrell and robin thicke, the other side. will this verdict change the music business forever? does he plan to appeal? is there another lawsuit on his
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hands? and manny pacquiao versus floyd mayweather, the boxers go toe and toe, nose-to-nose with only joint news conference leading up to the boxing brawl. we have it live for you. you can't miss it. i'm type e. my golden years will not just be gold plated. i had 3 different 401(k)s. e*trade offers rollover options and a retirement planning calculator. now i know "when" i'm going to retire. not "if."
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at ally bank no branches equals great rates. it's a fact. kind of like shopping hungry equals overshopping. liz: well, i started with green on the screen. hate to hand it to you. only russell is up, david. david: we both have to deal wilt. hi, everybody, i'm david asman. we did not come anywhere close making up losses yesterday. the dow was down 333 points. we were positive, but well under triple digits positive. let's go to nicole petallides at new york stock exchange. we're about to get stress test results. financials had a pretty good day. >> no doubt. financials have been good all day long. we're waiting for fed stress tests part two. citigroup is up. this group really shining.
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dow down 21. [closing bell ringing] liz: we're waiting on shake shack numbers. they are about to come out with the first public quarterly report ever. stay tuned for that. david: report, not earnings. they're expecting a little bit of a loss. we'll tell you details when we get them right here. bells are ringing on wall street. hello to the red cross on the right. stocks finishing up again. we had very, not very positive considering what happened yesterday. looked as though we may even be gaining some ground what we lost yesterday. nowhere near it at end of the day. russell 2000, small and medium-sized stocks, doing well. see them at bottom of the list there. all indices ended the day down again. put this in context after 330 point loss yesterday. liz: "after the bell." are we ready? let's start it right now.

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