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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 7, 2015 3:00pm-4:01pm EDT

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those fans are happy. now they're relevant again. melissa: i may buy a hotdog. sneak the drinks in my purse. jt, thank you so much. we appreciate your time. that's all we have for now. liz claman starts now. >> thank you, melissa. the last hour of trade. washington, dc, reeling from a short, but disturbing power outage an hour ago. take a look at this photo from a state department briefing that went dark right in the middle of the press gathering. it tells the story. they needed a flashlight just to ill illuminate the room. officials are now saying that the cause of the outages (?) is an explosion at a power plant in southern maryland and that all the power has been restored. homeland security officials are still monitoring the situation. rand paul throwing his hat in the ring. targeting millennial voters. senator paul officering
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himself aofferinghimself as a dt kind of republican. >> today, i announce with god's help, with the help of liberty lovers everywhere, that i'm putting myself forward as a candidate for president of the united states of america. [applauding] >> my plan, my plan includes economic freedom zones to allow impoverished areas like detroit, eastern kentucky, to prosper by leaving more money in the pockets of the people who live there. >> no power outage. new faces jumping in the ring. wall street stock looking for a third straight day of games. first time we see that in seven weeks. helping to lift investor spirits, $4.8 billion for a deal in the package business. fedex ceo says the strong dollar, a lot of ceos are complaining about actually helped himth a better deal.
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see, ceos are figuring out how to deal with the strong greenback. a lot going into it. let's start the "countdown." ♪ we begin with breaking news. the fbi is now on the case of that massive power outage that simultaneously shut off massive swabs of our capitol. widespread power outages hit capitol hill both inside and outside the beltway at 1:00 p.m. eastern. peter barnes has the latest on the d.c. power ownoutage affecting the department of homeland security. the question at this hour, if not terrorism, how easily could terrorists pull this off? we have blake telling what you say a rand paul run means for the g.o.p. but really whether he's the candidate who can nab the millennials and the centerrists. will paul finally be
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president. what will it mean for the economy and the market? bill is in the heart of the pits of the cme. phil flynn monitoring the energy markets. the rest of the team. first, blackouts in our nation's capitol. meetings literally being held by flashlight. now, we saw that one. we can show you other things, including where i guess peter barnes, oprah winfrey was giving a speech. she was suddenly dumped into total darkness. you're live on the ground in d.c. what is the latest as we hear the fbi is also investigating this? >> well, liz, it looks like the power is coming back on around the city at government buildings and other sites that were affected by this. the department of homeland security says as you mentioned it's closely monitoring the outage. we just got a statement from them saying that at this time, there is no indication that this outage is the result of any malicious activity. of course, our concern here is any kind of cyber attack because so many government agencies and buildings were
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involved. right now, the main suspect for this outage is a fire at a power substation in suburban maryland. it hit -- hit d.c. shortly before 1:00 p.m. today. in some cases, such as at the white house and the capitol behind me, cutting off power for a few seconds, but longer at other locations. we were without power at our bureau here at 400 north capitol street. the hall of states for about five minutes or so. our generators kicked in. the power was just restored at the department of justice about 15 minutes ago according to one of our colleagues there. we want to show you the video of the daily state department briefing as it was interrupted by the power outage. spokesperson maria harf used the light from her iphone. pepco said they experienced a dip in
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voltage and that this was caused with an issue with a transmission line. it had crews on-site investigating the cause. but a rural cooperative, the southern electric cooperative said it had a fire at one of its transmission centers in suburban washington, dc. that system does connect to our local power company pepco. liz. >> please keep us posted. things look better now. it was a scary moment, i'm sure. peter barnes, live from washington, dc. he may very well be the first president to use facebook, twitter, and bitcoin to announce a run for the presidency. the newest member of team fox business was watching rand paul's announcement. thrilled to have you, blake. it was clearly targeting the new america. >> yeah, rand paul was on facebook just a little while ago as well. this was a highly
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choreographed entrance. he announced in his home state of kentucky earlier this afternoon. paul began by saying, quote, we've come to take our country back. he took a swipe at colleagues from all sides saying they will never balance a budget unless forced to do on so. republicans and democrats are to blame. he spoke to millennials for his libertarian ideas. often citing for nonintervention in foreign policy. now, he tried to separate himself from president obama in his speech by saying, the president is negotiating from a position of weakness. listen here. >> we brought iran to the table through sanctions that i voted for. now we must stay strong. that's why i've cosponsored legislation that ensures that any deal between the us and iran must be approved by congress. >> now, before rand paul even took the stage, an adviser had to address
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this 1 million ad buy trying to link paul to president obama's iran positions. that ad will appear in four of the early nominee states. the poll adviser called it a false attack. liz. liz: if i'm twitter, i'm thrilled right now. twitter, facebook, all of that. welcome to you. all the way from miami. good to have you. thank you so much, blake. blake in washington, dc. get to know his face. he'll be with us. he's team fox business. and we team fox business are watching stocks charge ahead for the third straight session. but for the russell 2000, that's the one red point here. the underperformance of the small and mid-caps today, sometimes that's a sign that a three-day or four-day rally is running out of steam. is this something investors should worry about? traders at the new york stock exchange, cme group, and the imex. mr. teddy, do you glean anything from the fact that the small and mid-caps which have had
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a solid run are bucking the trend today and are down? >> no. i don't think so, liz. i think the story today is the weak dollar. all of a sudden we're getting a lot of negative economic news which puts this whole interest rate scenario on hold, which, you know, has been good for the dollar in a sense that it's made it weaker. better for commodities. you see energy higher. i mean, this is the trade we live fo with for almost four or five trades. the markets really like it. the small caps are out of favor. the focus is the mid-caps and the big caps. >> the us dollar weakened. for a while it pulled back from its mid-march highs. today it's rebounding. oil hitting a seven-week high. even with a stronger dollar, sometimes you don't really often see that. what's going on with the energy complex? >> well, yeah. today, one of the big myths that oil bears
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have been counting on is that us oil production this year would not fall no matter what. forget about the rig counts, cuts, that won't matter. well, guess what, it matters. the energy administration today came out with a report that said that production in the us would peak in the second quarter and we would actually see production fall over 120,000 barrels from their last estimate. now, a lot of people in the industry are saying, hey, you know what, the energy information administration, it's behind the curb. they're getting caught up with what's happening on the ground. and a lot of the people in the industry think production in the us will fall a lot faster than people think. that's why we're seeing this momentum throughout the day, really. liz: bill, the momentum with stocks. do you anticipate this will last? our volume was very thin. there wasn't a lot of conviction behind the rally. >> yeah. right now we think this thing will go to 2100. the moment is behind this mark. we have fomc minutes
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tomorrow. i don't expect anything different than what we think. it's a data driven market. some of the data points are starting to come around. overall, data continues to miss. that gives the fed no reason to be in a hurry to hike rates. the s&p, the mid-cap, the russell as you were mentioning, right now they'll have to retest the highs of the s&p and move above 2100. the momentum will move this market. april is a solid month. you have investors whang they have tknowing what they hae to put back in their retirement accounts. that will push the highs in the s&p. >> jolt. the job numbers. that came out at a 14-year high. (?) it's a better picture for the us economy. i tend not to ignore that number. it's janet yellen's dashboard number. how does that number
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look? >> well, you know, i think -- liz, the labor numbers, first of all, aside from the revisions that we seem to get periodically, you know, the last employment number we had was really underwhelming to say the least. this whole thing about interest rates, and we talk about all the time, the fact is, nobody knows and i don't think the numbers support the fed doing anything, anything in the immediate future. and that could be for the balance of 2015, which is always a positive. the underlying -- >> teddy is calling it. no rate hikes for 2015. >> that's right. >> i'm on board with that. liz: i know. so many people are saying, bill dudley of the new york fed making those comments in newark, new jersey of all places. it will be shallow. that's the new word. not patient. but shallow. thank you for joining us. we love our floor show
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traders. closing bell, 49 minutes away. full of american fair. the us central bank ramps up its stimulus program, should you load up on french food, spanish tapas and german soup? we have a bull bear debate. how many ceos complaining about the weak euro and the strong dollar, but not the ceo of fedex. he pulled a move that capitalized on both. ♪
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>> we have a fox business stock alert. one ceo has just turned all that strong dollar weak euro whining right on its head. fedex figured out a way to cash in on it in $1.5 billion move. the package delivery giant seeking to buy t&t express for a billion dollars. it will give them access to t&t's network. rival had tried after european regulators blocked that deal. so far, that does not appear to be the case. it doesn't look like an obstacle for fedex. the ceo of fedex telling fox business today he did not shy away from
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recent currency moves at all. >> no question about it. the dollar exchange rate helped make this transaction feasible. liz: look at fedex stock. unusual to see the acquirer jump like this. but it is up nearly 3%. ups, the competitor is up about a quarter of a percent. we're watching all those names. can investors pull off their own fedex type opportunity by buying into european stocks? take a look at european stock compared to the s&p 500. this euro stocks 500. fifty is the yellow line. it has obviously outperformed the s&p 500 to date. sweet run for the european names. but can that last? here to duke it out in a bull, bear debate. and managing director. dan, you're our bull here. i would think your argument would be, hey,
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mario draghi is picking up the ball where janet dropped it. that's big central banks. is that the reason people should be going into european stocks? >> well, certainly a lot of liquidity being dumped in by the ecb will help push up asset value. that's not my reason to be optimistic. that's probably a bubble more than anything else. i'm looking at the fact that there's been economic reform in a lot of european countries. corporate tax rates are coming down in almost all these countries. a lot of flat tax and private social security reform in eastern europe. southern europe, they've been forced to cut spending. there's a lot of free market reform in northern europe. so normally i'm a pessimist. i guess compared to where europe was five years ago, i think there are bright signs. >> what's there to be bearish about, garrett? >> first thing, good evening, liz. well, i have to say, the first quarter of this year has been something of a record breaker for
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european markets. it's up 20%, the dax. but if you look at the record of stimulus and what it does for an economy, it's always the first or second year where stock markets outperform -- >> we're not talking about what it does for economies. we're talking about what it does for stocks. it has not done much for our economy. yet we've had a six-year bull run in the united states. can we not assume that with mario draghi injecting liquidity that we wouldn't see the same with european stocks, garrett? >> well, you certainly have a point. i think for this year at least for 2015, i think the first quarter will be the best performing quarter of -- for this year. i don't think we'll see anything more significant to the upside. maybe another five or 10% at best for european large indexes like the dax. but anything beyond that, it starts to look
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very frothy. and there is a lot of potential -- >> dan is saying the road has been traveled. the best pickings have been taken. you simply believe there is opportunity. where would you be investing? what is the best play for people to get in on europe? >> the most important thing is not to look at europe as europe. look at the different countries in europe and see which ones are making the necessary reforms. who knows. maybe over the next two weeks, the greek government will announce, they'll finally stop dragging their feet and start instituting real reform. maybe not. >> you're saying go into greece? >> you have to look at country to country. if you buy into a country that is really distressed like greece before they do reforms, you can make money. if i knew which countries those were, i would be rich and sitting in the caribbean someplace. >> let me throw an eight days one at you. germany which has its act together, would you
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go there or more risk and more reward names that dan just talked about? >> yeah, absolutely. germany has to be the first pick for anyone who wants to put money in europe. very simple reason for that. germany is, of course, a big exporter country. that means a cheap euro is good for those exporters. that's probably the main reason why you saw the dax up 20%. after that, i would not touch anything at all. >> those greek bonds are paying something like nine, ten, 11%. risk, hey, maybe reward. i would be concerned about greece, only because you've got alexander, the prime minister, meeting i think the next two days in moscow. so if they start courting the russians simply to stick out their tongue at the europeans to say, well, maybe i know we owe 49 million euros this week. whether we make it or not, i don't know. that's the overhang. right? >> risk reward is the
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operative phrase. it's quite likely that greece will go in the wrong direction. will default. will institute capital controls. but if they manage to simply take a few modest steps, appease the imf and the ecb, get some more bailout money, in the short-term it might be a great investment. in the long run, i wouldn't be optimistic about greece. half of the demographics there, i wouldn't be optimistic about it. >> let me tell you, garrett, some of us wouldn't touch greece with a 10-meter poll at this point. we are watching. it does have that ability to whip the markets around. our markets are losing a bit of the rally here. we're off the highs of the session. we're watching these markets closely. we might be able to make it three in a row for the dow and s&p. thirty minutes away, closing bell. silicon valley. how about silicon prairie. it's the next hotbed for
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high-tech start-ups. right in the middle of the nation's breadbasket. where are the vc's? angel investors are right there. one entrepreneur who makes the case for iowa. and how can senator rand paul stand out in a crowd? maybe take some investments and maybe take some support through bitcoin. he's trying to grab the millennial vote in his bid for the white house. how will the democrats run against him on that? a democratic and g.o.p. strategist talking about his strategy to capture the g.o.p. crowd.
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♪ >> the eye surgeon in the senate is working hard to craft a vision of himself as president of the united states of america. senator rand paul announcing this afternoon he's jumping into the race for president in 2016. part of his strategy,
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laserring in on america's youth. but will this very younger skewed campaign righrife with tweets along with we accept bitcoin. joining me now, joe trippi. along with republican chairman of the legacy foundation, mike reagan. thank you so much for joining us. michael, i'll begin with you. because he's from your party, but he's a different species in a way. took a swipe at the g.o.p. but also at the democrats. one of the things that jumped out at me, under both parties, the poor have gotten poorer, the rich have gotten richer. that will change under me. what does that do for the real reagan supporter republican out there who are watching that speech? >> well, the reality of it is, all those reagan supporters, most of them are 80, 90 years old. the youth he's trying to grow were born after ronald reagan. my father was president of the united states of
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america. that's what he's after. but, again, it's the same basic speech his father gave for many, many years in iowa in the caucuses there. winning straw polls at cpac, but never went anywhere. what he will have to do is find a way to move out of the colleges and move into the grand old party and work with those people and have an issue they'll grab a hold on. one of the problems he'll have is on foreign policy. colleges may agree with him. but the grand old party may stand up and say, no, we're not ready for that kind of a foreign policy. that's the leap he has to make. liz: they don't
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mid- >> it's the old adage, in thepr. in the general election, you run to the middle. that's what you have to do. you have to get through that primary season. huntsman was a new name. he wasn't somebody that was around for a while. this was a new name -- >> it's a relatively new name in a way. >> well, no, the paul name is not a new name. rand paul is not a new name.
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they've been around for a long period of time. as my 32-year-old daughter said, you have to be relatable and likable. if the republican party wants to win in 2016, they have to have a candidate that is both relatable and likable to the youth and to the g.o.p. the grand old party, it's not the gyp. >> joe, when is hillary clinton going to announce a candidacy here? we keep seeing flashes. any minute now. people are waiting to see who a rand paul or ted cruz will run against. >> well, hillary clinton will announce probably in the next few weeks. but i don't think there's any doubt -- i mean, i think most people expect she will be the nominee. she certainly will get a challenge of whether it's from governor martin o'malley or jim webb from virginia. if any of them can put a scare in them. it doesn't look that way yet. >> can a rand paul beat her?
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>> somebody that can pull both the grand old party and millennials in. he certainly has one piece of that. he can pull millennials in. and a piece of the grand old party. there hasn't yet emerged a candidate who can appeal to all of them. you know, there is no ronald reagan. so it doesn't mean one of them can't grow into that over the course, but we have to wait to see. >> we'll pair you guys a lot as we lead up to the headlines for this political race. joe trippi and mike reagan. good to see you both. quick programming note, tonight on fox business' new hit show "strange inheritance," jamie colby meets a woman who inherited a one of a kind portrait, whole bunch of them of the survivors of the battle of little horn. >> i got a call from a friend. he mentioned david humphreys millers. i read that book.
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and it did a lot to resolve at the battle of little bighorn. i was more intrigued when i found there were these sketches and paintings he had done of these indians. (?) he caught their soul. he caught a moment in time that nobody else was bothering to do. and that's one of the reasons it's valuable. >> plus, they're gorgeous. they're gorgeous. you have to see "strange inheritance." airs monday through friday on fox business network. very hot show. a lot of people are watching it. you should be one of them. closing bell, 26 minutes away. first there was silicon valley. then silicon alley. now silicon prairie. yes. one entrepreneur who says, yeah, he's there. he's setting up and making so much money and getting great partnerships. a thrilling end for some to march madness last night with coach kay's blue devils beating
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down the wisconsin badgers. we have march madness for stock pickers. we crown our champion and revisit his top stock picks. how did he score? is he still holding on to the names he picked in early march?
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♪ >> time for a "countdown" news flash, boston holding its breath. the first day of deliberations in the trial of dzhokhar tsarnaev is winding down. thirty charges against tsarnaev. since his lawyers admitted that tsarnaev played a role in the bombings, his conviction is near certainty. once they reach the verdict, the same jurors will then to have
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hear evidence in the sentencing phase of the trial to determine whether he'll get life in prison or the death penalty. starbucks announcing a new plan to pay full tuition for an online degree for its employees. the offer covers employees who work at least 20 hours a week and this effort will cost the company about $250 million. but starbucks says it's in. the latest is an effort to attract and retain employees in a tightening labor market. chicago voters jamming the polls for mayor. rahm emanuel is leading in the polls over -- he failed to get 50% in the first round of voting. guess what, we're on this story. (?) watch for results of the very, very interesting election on cavuto tonight. 8:00 p.m. eastern. neil will have reaction from reverend jesse jackson. he is covering every step of it when it comes to that election.
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to that -- not that election, but that vote. very historic. who needs palo alto when you have des moines. we know a prairie may sound like an unlikely start-up place. long list of start-ups, the prairie is the new center of innovation. one silicon prairie start-up is giving shopping a makeover for men. men's style lab. helping revamp men's wa wardrobs one box at a time. (?) let's talk about the opportunity here and why you decided to set up shop there. >> yeah, absolutely. thank you for having me on the show. des moines has a lot to offer that most people overlook. of course, mentioned earlier, there's a presidential campaign that always runs through iowa.
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it sort of gives this national consciousness to the area of des moines, but provides additional exposure to start-ups here. i think there's a great mix of opportunity for people who want to venture out and start a company without the high associated cost of moving someplace like silicon valley. >> you can't even afford the rents anymore in silicon valley. the rents in san francisco are lower than silicon valley. so we get it. don't you need access to an entrepreneurial spirit? and where is that? that's in des moines right now. give me some info about that. >> yeah, absolutely. there's definitely a number of start-ups in des moines that call des moines and iowa home. we have a gravitational epicenter based in des moines. it houses a dozen or more start-ups in the same building. we're running into each other. it's where men's style lab is located. threethere's an ethos of what'sg
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on. one of the best places to start a business, raise a family. the cost of doing business is substantially lower than in other parts of the country. we're able to retain high quality top talent because the unemployment rate is substantially lower than it is elsewhere in the country. but the cost of living means not all your money will cover your rent or your car payment. you can actually go out and have a good lifestyle, good quality life, in addition to having a great lace to liv place to live. >> we want to hear about your company. this is a company that has partnerships with kohl's and macy's. reminds me of a company we used to have on here. that was trunk club. the trunk club for men. you guys put up to 12 items for fashion. almost a stylist in a box for men. into a box. they can either keep some of them. all of them or return it. how are you doing with this business? talk about your growth, if you
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can. >> yeah. absolutely. so the basic gist of what we do, we put clothes in a box, send it to guys all over the country that hates to shop. fortunately for us, there's a lot of guys that fit into that demographic. we're the single guy's girlfriend. we're here to help guys feel good. help them look better. in terms of relationships with other businesses and partners, basically the way we make money is we purchase clothes at wholesale and we sell them at retail. we've been fortunate to attract key investors. kohl's, macy's. the former ceo of a retailer known as mervyn's that's invested and an adviser on our boards. we feel well-backed by investors in the industry. and the future is looking bright. we're on pace to do four times or more than what we did last year. guides are continuing to find out about our service and reuse our service once they have a connection with our style
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advisers. >> the company is called men's style lab. and you're entrenched in des moines, iowa. you're there in the midwest. silicon prairie. visit us again, and thank you so much. >> will do. thank you. >> men's style ceo. the prairie is expansive. lincoln, nebraska, is getting a lot of these start-ups. it's not just des moines. new one in town. closing bell, 15 minutes away. we have a little bit of red on the screen. the s&p has turned negative. dow is holding on to positive territory. the nasdaq is just about flat. will it be a thrilling end to the likes of what we saw of march madness lasting night? down to the wire, a win for duke over wisconsin. our own version of march madness for stick pickers. we're crowning our champions. which stock did he pick? stay tuned. you're driving along,
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liberty mutual insurance. >> well, that was a fumbled rally. or an air ball. we only have ten minutes until the end of trading. here's what we need to tell you about. the most important thing to know heading into the close, some of the smartest minds on wall street right here. dan joining us from the pits of the cme. hank smith and jeff is here with me in the studio to do a march madness victory lap. what happened to thisral? to this rally? we're red for the s&p. red for the nasdaq. red for the russell. >> you know, after friday's disappointing employment data, the market got excited that the fed will push off its hike down the line. and i think that was bad news. you start to look at tomorrow, we have earning season starting, expectations of disappointment. we have fed minutes released. let's see what that brings. the market got too far ahead of
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itself. it backed off. >> do we have a down day tomorrow, dan? quickly. >> it means we have a down day tomorrow if you see disappointing earning news and news out of the fomc. >> thank you very much. we have breaking news right now that we need to tell you about. and that is that we have lost the lead for the markets at the moment. and we do have the s&p negative. it looks like the dow is about to lose its lead. but we still have nine minutes left. let's get to our stock picking march madness duke crowning the ncaa march madness championship. now time to crown the top stock picker. on march 15th, 2 stock pickers to face off each other to give their stock brackets. the results are in. who is the winner. we bring back hank smith, chief investment officer, along with jeff. circle square alternative investment president and chief investment officer. we announce the winner.
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our university of wisconsin runner-up is hank smith. we can put up the stock picks you both had. let's go in order of the face off you did. hank, you picked walt disney. >> and jeff picked johnson & johnson. (?) both did not very well here. right? but hank, walt disney i would have thought would see new gains with the announcement of frozen 2 and star wars on the way. but you saw a bigger loss than jeff on his pick. >> it's still a great long-term holding. both are great blue chip -- hats off to, jeff. >> hank, jpmorgan for the second matchup. you picked lendingtree. big winner for lendingtree. >> yeah. i'm very into the alternative lending trend that's happening right now. lendingtree is executing on all fronts. the company is growing
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exponentially. i think there will be more growth, more momentum. it's a great stock to own. >> the third match-up. this was a tough one for you, hank. you picked du pont. which saw a 10% drop. jeff, you picked autozone which saw a 6% gain. du pont is under attack by activist nelson peltz. the du pont board has unanimously determined that peltz and any principal from them would not be in the best interest from shareholders. it started to fall after a great run-up. >> they're getting pelted. no pun intended. the stock is reflecting concern that du pont will win their proxy fight. tryon will be left with no board representation. what do they do with that stake if they don't have board representation? most likely, they sell it. and i think also the higher dollar is going to impact their first quarter earnings. so it was not a good three weeks
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for du pont for sure. >> but would you still own it here? >> absolutely. they are spinning off their specialty performance chemical division kamoors. and we think the underlying du pont will be a faster growing company. we'll be owners. >> in the fourth match-up. jeff, you won again. fortune net. and hank, united technologies, which saw the spinning off of the helicopters. you still like it or not? >> the biggest story in technology is cyber security. we'll continue to be in cyber security. these companies aren't making a lot of money right now. but mark my words, cyber security companies will come out of nowhere. fortinet will continue to grow at these multiples. >> don't feel bad. i lost too. i had wisconsin. better luck next year. >> i feel like villanova, the
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number one seed losing in the second round. >> that's my bracket. thanks, doug. we had my floor member doug pick there. he made it pretty far to have wisconsin in there. thanks for planning along. hank smith. and jeff, circle square investment president and chief investment officer. jeff, the winner here. closing bell, five minutes away. starbucks taps arizona state university to give employees free college tuition. we'll find out from a top asu official how it works and who can apply. what happens in the last five minutes? we have lost the gains. the dow just turned negative. stay tuned. ♪ the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day.
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whatever i can do to help compute a cure for cancer, that's what i'd like to do.
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it begins from the second the pursuiwe're born.ier. after all, healthier doesn't happen all by itself. it needs to be earned... every day... using wellness to keep away illness... and believing that a single life can be made better by millions of others. healthier takes somebody who can power modern health care... by connecting every single part of it. for as the world keeps on searching for healthier... we're here to make healthier happen. optum. healthier is here. liz: oh, the dow jones industrial average trying to stay in positive territory but not so for the other indices, david. david: just bearly. utilities brought the market down. looked like triple digits on the dow at one point. nicole petallides, talk about fedex in particular because
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fedex getting a big bump on tnt express. but what brought the market down? >> when i talk too traders, two things. crude moved to highest level year and russell, small caps moved to the downside about 3:45. liz: talk a a name that looked really good. like a stock name for oil. carnival cruise line hitting a eight-year high? >> positive comments there. analysts talking about the fundamentals improving for carnal. the stock is up 2% going into the close. david: twitter, a takeover target. we don't know exactly from whom. the fact that the stock is really in play today. >> the stock after twitter moved on heavy volume to the upside. "barron's" wrote about it, briefing dot-com, chatter, rumor, they may have secured goldman to fend off two very serious interested parties. >> that is fascinating. that story, more to that. jcpenney falling more than 4%. >> jcpenney this has been the
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troubled stock trying to turn it around. tough day today. [closing bell ringing] david: bells are ringing on wall street. everybody expected much better day than it ended up. last hour of trading something spooked the market, liz. you silts went down as a result. -- utilities. even the dow which was holding on to slim gains ended up in the red. looks like they will all stay there. as nicole just said, look at the russell 2000. small and mid-sized caps getting hit hard. liz: dan ses stitch, make hitting three days in a row. higher oil prices may have done the trick. either way. "after the bell" starts right now. liz: from green evergreen to red, let's get into today's action the ron weiner said global diversification which didn't work last year will definitely work tore this year.

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