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

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so the whole business model is changing. it's very exciting to watch where our new rising stars are coming from. melissa: absolutely. that sounds bad news for me. i'll race over to youtube to figure out what i should do over there next. that's all we have for now. "countdown" starts right now. liz: we just hit session lows this very minute. we're watching the markets and ride sharing service uber raising money faster than it can show up at your door. the valuations sound more like monopoly money on steroids. should potential investors and any of you looking at the ipo, should you be aware? the bitcoin hype seems to be over. hardly. they've quietly been embracing technology. is it now to invest in bitcoin. when will it be as common as apple pay? the man who literally wrote the book on bitcoin. just hot air or a big letdown in pay and endorsements? tom brady may soon learn
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what, if any, action the nfl will take against him. no matter what the punishment, is brady in desperate need of a hail mary. last hour of trading, let's start the "countdown." ♪ liz: okay. now, this is interesting. now the dow jones industrial down 98 points. we have session lows. we seem to be increasing our losses at the moment. breaking news, we have just 59 minutes of trade. it's the energy sector that's the biggest loser today. down more than 2%. look at this, 39 of the 41 energy stocks in the s&s&p 500 down. losing air. we have fed whisperer john here to tell us why a rate hike shouldn't be feared. scott redler on why we are losing so much momentum. and chris robinson in the pits of the cme to
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tell us the best ways to set up for this week. eliot on why the markets are flailing. john, we have the april jobs number. it moved the ball on friday. but suddenly, that ball has completely disappeared or it's rolling out into the middle of the gutter in the street. what happened? >> well, you know, i think there was some relief that people got on friday that the job market looks like it's getting back on track. but the economy certainly is not kind of roaring back to life. and i think investors this week will be looking at the next batch of data. the big one coming up this week is the retail sales report coming out wednesday. we have to see confirmation that people are spending money. liz: can't just say one piece of data. it cannot. did the jobs number which was really good, like a goldilocks number, neither too hot or too cold, did it do anything, john, to change the roadway or the landscape, make it a little bit easier for the fed to tighten rates
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this year? >> well, i think it helped them to get some confidence that the first quarter was an aberration, that it was weather-induced. you know, this weak growth that we got isn't the new trend for the economy. so, you know, they're still looking at rate increases later this year. but they want to be -- they wanted to be proven that the economy is on a don't even track. and that was as you say, no one data point proves it. that was one piece of information that moved them in that direction. >> scott, why are we down 97 points? what happened here? >> you had weakness in the oil sector. small top in oil the last weekend. if you look at the size on monday down 100 points after being up 270, isn't so out of whack. as far as the data, we need a few more pieces of data to confirm that. the actual -- it's working. rates are low. it's improving the economy. we didn't want to see a string of bad reports to
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send all the low interest rates, you know what, there's not much else they can do. goldilocks is what we need to see. people shouldn't be upset about rising rates. traders want good news to be good news. >> hey, eliot, maybe it's nothing more than the oil market taking a breather after eight straight weeks of gain. that's what we saw. suddenly we looked good for a couple of months. maybe the oil market got excited and started drilling up the rigs again and firing up different operations. >> you know, anything is possible. but i'm not -- you know, we talked about it last week. we were trading at $62. liz: right. >> exactly like you said, we had a straight 20-dollar rally off the bottom. which isn't a big jump if you consider the down range that preceded that. i'm still bearish. we've come off three bucks. i finally gave up selling it. you know, i think the news -- the jury is still out on crude.
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liz: i love it when you say anything is possible. in other words, okay, liz, that's actually not the reason, but anything is possible. i do think that all those oil and energy names, chris, in the s&p being down today, that hurts the market. you know, we could pull up exxonmobil for the dow jones industrials. but greece, once again is trying to pay for reform. they're not reforming. we know that's not happening. maybe people woke up on monday and said greece is still a problem. >> i don't think it's the thing dragging down the stocks. liz: let me ask chris the same question. >> i think it's really technical too. we were within six handles of the record highs in futures. we're at the high of the range. if you're worried we'll have a correction. now is the time to get some hedges done. we're very close to record highs. and we weren't able to take them out in the futures market. i think that's key. a lot of people thought
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we would see an extension and we didn't. now they're backing off. so i think that's a big thing. also, look what the ten-year did today. if you have june 10-year take out 126, you have a real issue. doesn't matter what the fed says. if the market says the rates will go higher, you'll see it first with the ten-year notes. >> do you think that's where we'll see it? people will be looking for clues well in advance of it happening whether it's september or 2016. john. >> well, i think the market will sniff out what the fed will do before the fed actually goes and does it. they don't want that. they don't want to surprise investors. we keep coming back. it will come down to the data. you know, why are ten-years selling off? pretty good jobs data on friday. that affects when people think the fed will move. liz: when is the fed moving, john? everybody on the screen wants to know. you have people like
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jack welsh and warren buffett saying i don't see it happening. other parts in the world are weak. china cutting its rate third time in six months. europe is still a huge question mark. >> wstled i thinmark. >> i think for all those reasons, the important question isn't when the fed will move. the market is betting around september. fed officials are saying that's kind of what they're thinking. the important question is, what do they do next? they have put out forecasts that suggest they keep moving in 2016 and 2017. they get rates up to near 3% or more. there's a possibility because of all these other headwinds that they don't do a lot after starting to move rates because the global economy is fragile. >> and folks, 3% not anything bad when you look historically. john hilton warning it's coming. thank you all so much. i don't think that the guys who run alibaba are worried about rate
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tightening. they're just growing and growing. alibaba growing by giving an american online retailer a pretty big boost. shares of zulily are soaring. it announced it has bought a 9% stake in the company. zulily shares were up 12%. zulily was a mess last week. tumbled when it missed street expectations. alibaba indulged in a 56 million-dollar shopping spree. maybe they got it for cheap if they bought it at that point. >> the jump -- a new stake in the company. that's according to a filing late on friday. alibaba got this for a bargain. $56 million is what they spent on zulily. of course, it's clothing and home deck or for home decorr women.
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you can see in the earnings report that overall growth had been very sluggish for zulily. having a hard time hanging on to their customers. i asked alibaba's ceo daniel about increasing alibaba's presence in the u.s. what their plans were competing with amazon. he told me the plans continued to be all about learning about the us market and plans, of course, for more expansion. now, this is just the latest step for alibaba in american e-commerce. already, it owns and operates 1 11 main. (?) it invested in shop runner, an amazon rival. >> we have the closing bell ringing in 50 minutes. again, we're just off the lows of the session. kind of a mess today. for no reason except that maybe the markets got expensive. or maybe oil is bringing it down. illegal immigration costs states billion of dollars a year. almost all the presidential candidates agree. reform is so needed. but almost none agree on
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how to get there. former governor jeb bush shares a formulated thought on immigration in an exclusive interview with megyn kelly. we'll tell you what he said. tom brady may find out whether he will be punished by the nfl for his alleged role in deflategate. regardless of the outcome, our next guest says brady's reputation and endorsements will take a hit. why? we'll ask him. ♪
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♪ >> a fox business stock alert. consumers may not have noticed cheaper milk prices at grocery stores. investors in the largest milk pr processors did. we're looking at dean food stock. it jumped after reporting better than expected profits. 6% for dean foods. (?) you don't often see a move like that. they benefit from lower milk prices that they didn't pass on to consumers. lovely. if you're an investor, you love this.
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demand falls in china. a russian ban on us milk and dairy products really affected demand. you have to figure that hurt it. med gold and dean's milk up a dollar and a penny. the pressure on deflategate keeps building with the nfl's decision for tom brady's punishment expected any day. (?) late night hosts are cashing in on the jokes. listen. >> the whole community is praying for tom and his family. the whole community. wow, that's a lot of pressure. there was a way to get rid of that pressure, i believe. not all of it. just a little. just let a little of the pressure out. liz: just a 12.5 pounds of pressure. right? deflategate is hardly the first athlete scandal. and it's definitely not the worst. we get that. how exactly is this rise in sports stars
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affecting advertisers even if the athlete isn't punished. ed joining me now who handles more than 100 professional athletes, right, ed? >> we handle quite a bit absolutely. liz: what happens to tom brady? will he be punished? >> without any question, he should be punished. i'm looking forward to him being punished. he really has disgraced the game. and it has hurt everybody, liz. everybody in professional sports, not just football, but all sports. tom brady has really hurt. liz: don't you love it when people say -- and i've heard this a lot. don't you love it when people say, oh, but he won those games by such a huge margin, he's clearly the better athlete. i don't care. if you cheat or you go against the rules, what are the rules for then. right? >> yeah, and we've seen this in so many ways. the steroids issue in baseball. others were doing it, so
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it's okay. it's not okay to cheat. and it's not okay for tom brady and the patriots to cheat and walk around with the super bowl title. they're cheaters. liz: the nfl says we will know something that they will at least say what the punishment is, if there is one. what happens to tom brady if he's not punished? does he lose endorsements regardless? when the word cheater gets mentioned around you, it's kind of indelible, isn't it. >> he didn't have that many endorsement contracts already. you will not see any company want tom brady. he's dead to advertisers. liz: really? i don't think so. why. >> absolutely. one, he's at the end of his career. people aren't going to go after former athletes and try to get them to endorse things. he won't be on the hit list of any advertisers of any kind. he's probably not in the top 20 or 30 of anyone
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considering him at this point. liz: what do you tell your major league baseball, your professional nba stars for whom you manage money. what do you tell them? >> the same thing. very few athletes. i represent fortunately well-known ones. even the best known ones don't get a lot of money from advertising. they work hard. they handle themselves in the right way. and most people are not looking for those endorsements. they'd like to see it. but the world of endorsements have changed. since kobe and tiger, a lot of advertisers are walking away and saying, we'll pay on you social media to have click-through his anthroughs. and if your influence helped us sell our widgets, we'll pay you a lot of money. otherwise, you're not seeing a big move toward that. liz: we're seeing that move towards the facebook and twitters of the world. they almost get these guys for free. these guys are on facebook and twitter, they have millions of followers. i think of lebron.
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i follow lebron, millions and millions of followers. people hang on their word. they don't have to pay this guy anything. it's almost the way of the future. who is the safest athlete? is there a sport that makes it a lot safer so that you don't run into the kobe accusations? much worse, the ray rice, the aaron hernandez. think about ray lewis, the year 2000, you know that people don't even remember he was fined 250,000 dollars for plea bargaining a double murder. i mean, this is nuts. he didn't even get suspended a single game. is there a safer bet than football? >> well, without question, i mean, tennis players, you know, have a global appeal. and they tend to have a much better image. there seems to be a lot less shenanigans around them. it's not just the athlete. it's celebrities. athletes. musicians. endorsement contracts are smaller all the time. if you're a company, you do not want necessarily to pay money and hoping and holding your breath
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every day that something bad doesn't happen. and really important point, liz, the people most influenced by someone endorsing that product are usually your younger kids. and they're not on television. they're not watching anymore. they're on social media. so that pay per click is really the way of the future. it's the way to get to those young people. liz: okay. september 10th, thursday night opener. patriots versus i believe the steelers. will tom brady be playing that first game? >> not a chance. liz: i paused so that we could save this piece of tape and see if you're right. we'll see if he's punished. he's tough. i'm glad you weren't my principal in high school. my god. ed. closing bell, 40 minutes away. megyn kelly gets an exclusive interview with potential g.o.p. candidate jeb bush. he's not doing a lot of one-on-ones. he did with megan. surprising answers about
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iraq and immigration. which matters big time to the business world. (?) and the controversial bitcoin currency technology getting a pilot test at the nasdaq. why is the nasdaq embracing bitcoin now? will it transform financial markets forever? ipos even? we will take a look. you have to hear this. ♪
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♪ liz: we have another fox business stock alert. analysts are warning that online marketplace etsy may have a big problem with counterfeit goods. there maybe 2 million items on etsy that may be counterfeit. this is weird to me. a lot of this stuff is supposedly handmade. what do you mean
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counterfeit? of what? a no name company? the research company downgraded the stock to underperforming neutral. shares got crushed. shares of etsy down 8%. at its worst point down 10% earlier today. this is a company still evolving. pretty new ipo. we're looking at etsy at $20 and 80 cents. let's move to jeb bush. aligning himself with his brother. former president george w. bush while he still weighs whether he'll run for president in 2016. no announcement yet. he sat down with megyn kelly. the former florida governor says on a couple of issues. number one, he would have authorized the invasion of iraq in 2003. but that mistakes were made after saddam hussein was removed from power. blake burman joins with us other issues that jeb bush talked about. it's certainly interesting, isn't it? because he hasn't announced a presidency. yet we're asking him to make comments about
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things that matter to americans for the next president. >> this is the first interview that jeb bush has given in months. of course, the expectation is at some point he will at least announce or at least tell us us his intentions. as of now at this point, hhe is just expected to be. his interview to megyn kelly over the weekend. you might remember, liz, just a couple of months ago, he gave a speech in which he claimed he was his own man when it came to policy. jeb bush had had no problems backing his brother. hmegyn asked if he would authorize the invasion of iraq. he said mistakes were made after the invasion, but he would have authorized the war. listen here. >> you don't think it was a mistake? >> in let retrospect, it was fatalitiy. (?) in retrospect, once we invaded and took out saddam hussein, we
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didn't focus on security first. and the iraqis in this incredibly insecure environment turned on the united states military because there was no security for themselves and their families. by the way, guess who thinks that those mistakes took place as well? george w. bush. >> now, bush's larger point here is this is an issue where there is not a, quote, big space between me and my brother, he said. the democratic national committee as you can imagine released yet another statement this afternoon writing, quote, apparently hind set isn't 2020 for jeb bush. even knowing how badly we were misled, he would do it all over again. his disastrous go it alone approach is wrong for our country. (?) despite declaring in february that his foreign policy views are his own, he appears to be embracing his oval office ties. just last week, he said george w. is his top adviser on israel. liz. liz: okay. and jeb was also asked
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about his immigration stance. i'm less inclined to put weight or negative spin about something he said something that happened years ago, like the war. and more inclined to talk about, what are we going to do aboutn in the other ones who have jumped in are against allowing illegals to stay here. i know illegal is an adjudicated word. people who got here without a green card or passport. how does he feel about that? letting people stay? >> this is probably his biggest hurdle should he jump in. common core too. this really is the main one. last year, he told fox that illegal immigration to help one's family is not a felony, but a lack of love he said at the time. over the weekend, he talked about fixing the immigration system citing the children of illegal immigrants is one of the reasons why. he feels that he can gain the support of republican primary voters, this is interesting.
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>> there has to be a point where we fix this system where illegal immigration is easier than legal immigration. that maybe a valedictorian of his vials thishigh school, you're nt allowed to go tocology. thitocology. >> thito college. >> how can you get through this g.o.p. primary with this view? you know there's a core wing of the party for which this will be a deal breaker? >> i don't know about that. i get a sense that a lot of people can be persuaded to be honest with you. >> you talked about the other candidates. he suggested that if he runs for president, he won't, quote, bend with the wind on issues. >> everybody came from somewhere. their great-grandparents
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came from somewhere. maybe a little dicey. but i think the republican party knows it has to move beyond immigration and figure something out. blake, thank you very much. blake burman. you can watch megyn kelly's interview 9:00 p.m. eastern on the kelly file. don't miss tonight's episode of "strange inheritance." about a family who inherits rare letters written to their grandfather from a young john f. kennedy. >> when i first looking at them. oh, wow. and promptly put them in a safe-deposit box. >> there they remained for the next quarter century. but a surprise phone call from a stranger will reignite this family's interest in their unique inheritance. >> i left this very strange message. are the nephew of herald w. marty. >> you have to hear the west of the story. "strange inheritance" monday through friday on fox business nein p.m.
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the closing bell, 28 minutes away. bitcoin. sometimes it's in the news. (?) then it disappears. now the technology is the in the news. now coming to the nasdaq. take a look at what it means for financial trading. who else is embracing the controversial currency. a close call at last lax. a harrowing landing. wait until you see how this one ended. ♪
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liz: time for your "countdown" news flash. that was close. okay. i want you to watch this plane as it's landing with dozens of
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passengers on board. it had to make an emergency landing. but it did so safely at lax airport earlier today. a sky west airline jet with 43 people on board. there it goes. and down. and you can see that has to be a scary moment. it approaches the last weelaxairport. it was unable to deploy one of its landing gear. i wonder why there's no sparks flying. thank goodness. right? the new king of saudi arabia pulled out of the summit of arab leaders being hosted by the the united states. not enough progress has been made. narrowing differences between the us and the saudis over a nuclear deal with iran. let me make that clear in easy english. they want to hear the us say, we'll jump in if you're attacked by the iranians. the only two monarchs invited to attend will be the ameres of qatar
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and kuwait. lying about the killing of osama bin laden. citing an anonymous source. administration officials cooperated with pakistani intelligence and military officials to kill bin laden. they allegedly knew about the mission in advance. and 15 years on the air, fox says enough. they will pull the plug on american idol. the network says next season will be the show's last. many american idol contestants went on to become huge stars. big winners like carrie underwood. and then jennifer hudson. at its peak, they averaged 30 million viewers. the death star because of its rating dominance. fox and fox business both owned by 21st century fox. get to the nasdaq. doing something interesting. the nasdaq is embracing bitcoin technology. the exchange is
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test-driving bitcoin-based technology in its preipo market of about 75 companies. so trading the shares of privately held companies. right? the block chain ledger, that's the name of the technology used by bitcoin minors to keep track of transactions. to verify transactions by hand. i can't believe they were doing that in the first place. how will regulators react? will this transform bitcoin forever? jeffrey tucker, we say you wrote the book on it. you're with digital development for bitcoin. joining us now in a fox business exclusive. why do i get nervous thinking that the nasdaq is going to use bitcoin technology, which is frankly unregulated? >> no. don't be nervous. this is really an awesome and exciting development. people think about bitcoin and they think it's a scary internet money. the truth is, there's a massive technological infrastructure underlying bitcoin. and it's called the block chain.
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and it's like epic amally cool. it does things like bundle and comoddify and title things of our choosing and send them on a geographically base without third party counterparty risk. it's extraordinary. i mean, it will reduce the cost. and increase transparency. and just generally improve efficiency of financial markets. we're just in the early stages. this is a very exciting development. it shows we're in the early stages. liz: okay. you threw so many sat words at me. i want to pull some of this apart. you said taking out the contiguous, blah, blah. okay. you're saying they'll take out the middleman. meaning the banks and perhaps some of the clearinghouses. i'm fine with that. we know that sometimes there are problems with those situations. that's fine. but the fact that it's this third party weirdness, i don't know.
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>> no, no, no. it's not just about -- it's about the cost. to use intermediaiaries that we've traditionally done. it's very, very sensitive. >> can you trace it? it's supposed to be anonymous and untraceable. this will be completely traceable? >> no. this is a misnomer. bitcoin is incredibly transparent. you can look at every transaction from every public key to every public key. it's way more transparent than the existing financial system. we're seeing little experiments in using block chain technology. but if it plays out the way it's played out in the world of currency with bitcoin, it will be awesome. and we'll find out that a lot of financial companies and fortune 500 companies that are already experimenting with block chain will find out many, many new advantages of using this stuff. it's incredible.
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the public doesn't know anything about it for the most part. wall street is just discovering it. >> they tend to be late. with the dark pools and all that, they were a bit behind on all that. let's look at the bitcoin market price. i know block chain is not bitcoin. it's bitcoin technology. bitcoin was 1,000 bucks at one point. now it's at 240 or so. >> yeah. liz: do you buy bitcoin? why do i need that today? >> i don't know if you need it or not. i mean, it's pretty early in the space. i mean, i was in the market when it was like 12 or $13 or something like that. the price right now, it seems very high to me. not $1,200. but if you look at the whole price, you see these sort of hiss tear i can't see that come along. shoot it up to the moon. (?) the next currency crisis that comes along, we could see a dramatic movement. i think that bitcoin has a real future. that and many other crypto currencies that are out there that are actually thousands of
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them besides bitcoin. the real innovation here is really the block chain. is this amazing thing that allows this transfer of property. information commodities across like i said geographic, noncontiguous lines. liz: why can't i do that via the internet? >> well, the block chain relies on the internet. the important thing is that it's peer-to-peer transactions. i can give like real -- within a matter of seconds. and you can give it back to me within a matter of seconds. at virtually zero cost in a way that's absolutely verifiable. >> which i love. what if i give you something and you're supposed to give me something back. and i'm waiting and waiting. where is it? oh, that guy scrammed. he's gone. >> well,, yeah. that's really true. you do face this actually. >> you remember mount gox. >> i do. (?) that was a very weird
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amateurish organization and everything. but you're right in the sense that once bitcoin is gone, it really is gone. the market has to evolve and get more sophisticated. you're starting to see tools used in the bitcoin world that allow -- that retire two or three parties involved in transactions. we're in the early stages. bitcoin was around for six years. when it came along in 2009, i thought it was nuts. it was insane. probably a ponzi scream. a tool for geeks. it was ridiculous. now here we are in 2015, they won me over. it's time to look very sophisticated and very impressive. on a distributed network, it's entirely invented by private markets. that's cool. >> yeah. it's a libertarian anonymous thing. why not? i don't want people tracing my money. it's still questionable when there's zero regulation. thank you. i think the bow tie gives bitcoin legitimatesy, not a lot
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of bitcoin fanatics look like you. crypto conference founder. should bitcoin have a place on wall street? tell us at n. we're going to read some of your responses tomorrow. you're a believer? do you like it? gutsy enough to go early stage? we shall see because the nasdaq is. closing bell. fifteen minutes away. what do fedex and uber have in common? one is profitable. the other is not. but as of today, there's something else that almost makes them twins. we'll tell you what it is. while the market closes at the top of the hour, we're always on call for you. go to sign up for claman on call. we deliver the biggest headlines of the day. a lot of late-breaking stuff directly to your smartphone totally for free. that way you keep up with the late-breaking stuff. it's important you have it. ♪ ♪
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take a look. they've been looking and based on their information, they're worried there may be counterfeit products. louboutin. the good news is tiffany beat out ebay in a lawsuit. that might bode well. and activists. that's a winner. profit beat. they picked up aler,gen. back to you. >> what's the most important thing you're looking at right now that takes us to tomorrow's opening bell? >> i think it's a switch in consensus. a decent amount of buying in the s&p futures and in the electronically traded features. we were sitting on the highs. once the afternoon started, we really kind of gave all those things back. as nicole said, the vix jumped up almost 5%.
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when you see a down move, it's when the vix is moving higher. that's the consensus from switching up to really down. >> we're at 2106 for the s&p 500. 2100 we might see the floor. ride sharing start-up uber gaining momentum after its latest round of financing. the company is in discussions that could raise one and a half billion dollars. it values uber at $50 billion. not even public. gives us a valuation. with global shipping giant fedex. uber is the same size as fedex. still has so many hurdles to overcome. jeff joins us. we were just talking about netflix because nicole brought it up. you're willing to take a bet on a riskier company here and there. but uber. >> what investors have to be aware of, uber was raising money.
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in 2011 at a 60 million-dollar valuation. now these years later at a 50 billion-dollar valuation, we're seeing the people who passed in 2011 are piling on now. so that means we'll see further acceleration in this valuation and it's departed from reality. >> because they don't make money yet. they're not profitable. they make a ton of money. they have to pour it back into growing the business. >> from my perspective, uber is a revolutionary company. >> me too. >> it will continue to revolutionize transportation. but there's so many variables that you can't predict that are going to affect that valuation. when you have a stock like uber that is -- that is bigger from a valuation standpoint than 80% of the s&p, we -- of the companies in the s&p. we have a -- we have a valuation concern here. >> yeah. >> because a month ago, we were looking at a 40 billion valuation. if we keep piling on
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10 billion-dollar valuations every month or every other month, this company is going to be monstrous. >> but we love it. i used it twice in los angeles. five minutes, they were there. amazing. i loved it. >> yep. liz: but if you're investing in publicly traded stocks right now. you have an interesting window. and you look through it and you say. i like fireeye. tell nav. exxonmobil. >> let's talk about exxonmobil. it's getting beat up from the hundreds to the 87s. >> how about telnev. >> that's an interesting stock coming from me. but there are some dynamics happening where the car -- the automobile is actually becoming like a smartphone. what telenav does, it incorporates a lot of different figures and features on to the dashboard of the car. you have your radio. you have your weather. you have your directions. >> a lot of car
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companies use them. not just gm and ford? >> well, gm and ford are the primary ones right now. virtually all the new cars have telenav. gm just signed on. an impressive company when it comes to the fact that that is one of the biggest functions of telenav. the second is that telenav is involved with this on-site advertising. on your device if you were to walk towards a store or business, you would that get advertisement targeted towards you. revolutionizing advertising. >> unless it's a coupon, i'm not interested. jeff, great to see you. we'll put up jeff's picks on n. good to see you. you're into sports. will brady get punished? >> i hope so. this is ridiculous to me. the patriots get away with too much. it's time for them to face the music. >> a giants fan. >> absolutely. let's end this.
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>> great to see you. jeff, closing bell, five minutes away. off session lows. can the markets come back? how will the saudi snub affect us foreign policy? and that nuclear deal with iran, will it torpedo that deal? formedeal? bob correspond maccoming up. it begins from the the second we're 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...
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we're here to make healthier happen. optum. healthier is here.
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liz: david asman joins me. we're off the lows. that's the best i could say. david: we took a downturn about half an hour ago and it stayed there pretty much. liz: nicole petallides stayed there pretty much at the new york stock exchange. zulily gets a big jump. alibaba gives us a magic touch, right? >> absolutely. they're putting their money where their mouth is. they put in about $56 million to buy more stock. david: treasury rates, the yield on treasury rates, the highest since december. what's happening?
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>> 2.27% for the 10-year. david: all right. [closing bell ringing] david: we'll talk about that with our panel coming up. liz: david, i know you got rid of yours, but blackberry is still with me and shares jumping. david: you still have the blackberry? i finally got a samsung, wow. bells ringing on wall street. about an hour 1/2 ago the market which was flat-lining turned significantly down of the russell managed to pull out a win though just barely. .05%. the dow jones industrial average, s&p and even the nasdaq, which had been in the green for a lot of the day did end up negative. liz: not a bad day though when you look how far we came back. let's get to what happens after the bell so much. it starts right now. liz: let's get right into today's action. what it tells us about tomorrow. we have the hodges fund eric


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