tv Countdown to the Closing Bell With Liz Claman FOX Business November 9, 2015 3:00pm-4:01pm EST
trish: the countdown is on! this time tomorrow republican candidates will be doing their final prep before taking to the stage here in milwaukee, wisconsin, to face the substantive economic questions that we here at fox business are ready to ask. it all kicks off at 7 p.m. eastern only here on fox business. i'll be there. do not miss a minute of it. liz claman, over to you. liz: trish, you've got your countdown, we've got our "countdown to the closing bell." we're live on the floor of the new york stock exchange because the markets are showing signs of stress at this hour. take a look at the dow, it has been forced back into negative territory for the year. dow jones industrials down 205 points, the s&p 500 down 24, the nasdaq down more than 67 points, so it is a stress right now for your money. all of them falling in the wake of friday's october jobs report that was strong enough for traders on this floor to say to
me, they just uttered it to me now, now the fed has, quote, no excuse not to tighten interest rates in december. is it a december rate hike at work, and is that why there is red on the screen? of course, the republican candidates for president are preparing for tomorrow's gop debate in milwaukee right here on fox business. this is the place to be. i am so glad you are here, because all of these candidates must face the prospect of how a rate hike will affect americans/voters' money, their pensions, their 401(k)s, their jobs, their investments. so much of this matters. the first debate, of course, beginning 6 p.m. eastern right here on fox business. new jersey governor chris christie, former arkansas governor mike huckabee are at the center of the stage, and then, of course, former pennsylvania senator rick santorum and louisiana governor bobby jindal joining them on stage. the second debate, 9 p.m. eastern, the lineup featuring eight presidential candidates, billionaire donald trump and
retired neurosurgeon ben carson, front and center. now, these debates take on a much greater importance, especially considering you have the markets dropping right now at this hour. again, biggest decline that we've seen in six weeks. what's going on here? this will loom, and it will be questioned at town hall meetings, debates, especially yours, we'll be asking of these candidates. the 2016 presidential election now less than one year away, just 364 days until november 8, 2016. if what you see on the ticker right now, this selloff, is the start of things to come, what are we trying to say to you here? all the candidates must have better ideas. we've got it all covered with you live from milwaukee and, of course, back here live from the floor of the new york stock exchange. less than an hour to the close, let's start the "countdown." ♪ ♪
liz: we begin with breaking news. we are live from the floor of the new york stock exchange. the floor which is, of course, the capital of the financial world, but it also melds the political world. it's sort of that intersection. why? because the headlines that are breaking here right now absolutely matter to your money. now, let's tell you why the market is falling right now. first of all, look at the fear index. this kind of brings it all together. the volatility index down anywhere from 16 -- is spiking actually, rather, 16-17% at the moment. we've got red on the screen. what is at heart there? well, you have a lot of fear about something we all knew i was eventually going to come, but will it come sooner? that is a rate hike. if you think the dollar, for example, which just recently hit a seven month high and is just barely pulling back at this hour, does it matter to you and you think it doesn't, it does if you own any of the big multi-national companies, procter & gamble, mcdonald's,
coca-cola, it will affect your money. ibm is a big drag on the dow. now look at the fed funds futures picture for the rate hike in december showing a 68% chance. that jumped from 30 and then 40% over the last week and a half. why? because now the cacophony of fed heads is really getting louder. just a few hours ago the first federal reserve president, bank of boston -- and he's known for his doveishness, folks, meaning he's known for saying, hold back, we're not ready for rate hikes -- he has said today a december rate hike could be appropriate a strong dollar is all the more reason for a rate hike sooner rather than later. how do the presidential candidates weigh in? how do they handle that? how do they handle the stronger dollar? what about a gyrating stock market and how it colors voters' perceptions of their money and
their jobs? we are just one day away from that republican debate that, of course, is right here on fox business, and you are in the right place for that because the debate will focus on what matters to you most, the economy, jobs and what each of the candidates has to say about how they will speed up growth. we will be the first debate to actually press them on how they do that. we take you live to milwaukee where blake burman is standing by the site of this debate. and these candidates know -- and if they don't, they're in trouble -- they know they must address the fact that people's investments and money do matter right now. >> reporter: yes, that's exactly right, liz. that is going to be one of many questions tomorrow night here asked about the economy, voters at home, what these candidates may or may not say that would eventually impact, potentially, their wallet. there are so many different storylines heading into this first fox business debate tomorrow night in milwaukee, perhaps none bigger in the leadup of dr. ben carson and his story of his life. a lot is known of the larger
parts, born into poverty in detroit, eventually risen to become a renowned neurosurgeon from baltimore. however, there are reports that have surfaced in the last five, six days or so that carson has been forced to address about what happened in the middle there, accounts that carson has written about in his book and claimed that either they are not truthful or carson either just embellished them. carson has largely pushed back on this in the recent days saying it is nothing more than a distraction. he's even said, and this has been a line he's been using over and over, that the media hasn't been focusing on him as toughly as they did as then-senator barack obama during the 2008 cycle. the white house press secretary, josh earnest, was asked about this just moments ago, and they pushed back against carson's claims. >> it's not easy to run for president. it shouldn't be. and people when they make public comments are going to have their claims scrutinized. even if their claims about their own biography, and that's part
of the process. and it was difficult when those questions were raised about senator obama. >> reporter: liz, the carson surging is clearly real. i want to address your attention to this one poll released out of south carolina today, monmouth university. carson up one there. this is important because this is the fist -- first time since late june that donald trump has not held the lead there. carson and trump have been going back and forth out of the most recent polls just like nationally, but today in south carolina a poll, the first primary state in the south, that shows carson, indeed, on top. we will see here tomorrow night in milwaukee if carson is forced to address this. donald trump and mike huckabee have alluded to this in the recent days. liz? liz: yeah. we'll see if they bring it up, but i think what really matters to our viewers, and i know you agree, it's can they answer questions about their tax plans. can they answer questions about how they are going to create jobs, and that's what maria and
neil and team are going to be pressing them on. blake burman, thank you very much, in milwaukee. again, how are they going to handle the stock market? take a look at the ticker, we're down 207 points after, quite frankly, a six week positive run. but could this be the start of something? and what about the near-term gyrations of a potential rate hike in december? be sure to tune in to both republican debates on fox business tomorrow, 6 p.m. eastern, sandra and trish joined by gerald seib, he knows the economy, he knows politics. it's going to be terrific to see that followed by the big debate, 9 p.m. eastern, maria and neil will be there with "the wall street journal"'s george baker. they will test these candidates, everything about their plans, economy plans, money, all of the things that matter, they'll hold their feet to the fire. you can't just come on our network and say i'll create jobs, or my tax plan will cut taxes this much.
yes, but is it going to be revenue neutral? there's so many questions we know you want answered, you'll get them. all of the candidates must be prepared to deal with everything from the economy to stocks and your money. and at this hour we are laser focused on why the markets are seeing the biggest drop in six weeks. bring on the traders, we get right to the floor show. traders at the new york stock exchange, the cme group and the nymex, and teddy's joining me right now. people may hate to say it because it could be the global economy, china got some bad trade numbers. once again, their exports are falling, but the fed has a way to magnetizing with its gravitational pull bringing the markets in, and if we see a december rate hike, is that what's at work with these numbers? dow down 215 points right now. >> i think absolutely. a lot of folks think they're going to raise rates because the economy's doing better and, therefore, it should not have a negative impact on the market. i think it's quite the opposite. when the fed shifts policy from neutral now to a tightening policy, it's not what they do in december, it's what are they
going to do the next time and the next time. i mean, i guess it's good in the sense that in theory the economy's doing better, but the rest of the world's not doing so good. but i think it's a negative for the market. this is a market that's tripled on the back of zero interest rates for the last six years. it's a lot different than the time period from 2003-2007 when the fed raised rates for almost four years, but the market was coming off of a trading low. now we're at a trading high, and we're going into the prospect of higher rates. i think it's a negative -- liz: yeah, well, it is, but you deal with it, right, chris robinson? the s&p down 25 points, but there are some who believe that if we do see a rate tightening in december, short term it'll be negative, longer term it's positive because it indicates the fed is pretty much ready to the accept the fact that the economy with a few data points -- while not stellar, it's certainly something that says better times ahead. >> yeah. i think that unemployment number
on friday was surprising. 100,000 extra. and, you know, you saw the market actually hang in pretty good. the stock market. now, the initial reaction in the bond market was a really nasty selloff, and that's where i think you've already seen people adjust for that. look at the 10-year and the 30-year. if i was worried about anything, i'd be worried about having intermediate to long-term bond funds. that's probably going to take the most heat. the stock market's hanging in really good. we just had a 3,000-point rally. to get excited about a 1% correction after the rally we've had, you've got to look at the forest for the trees. you can't get too excited about this volatility, and i think we're going to continue to see volatility. people are just going to have to get used to that as we move forward. liz: yeah. and you know what? look, the one thing they don't have to worry about is high oil prices. that is for the candidates that they don't certainly have to address at the moment. we are now with a 43 handle for light sweet crude. so you're p even now below $44, that's got to be one less thing
on the candidates' plate at the moment. >> well, you would think so, but so far it hasn't translated, you know, into the consumers' pocket, though clearly gas is cheaper at the pump, and that has to be helping -- liz: quick, chris, i think the consumer looks relatively decent right here, no? >> yeah, i think so. commodities across the board at six-year lows. liz: right. >> and, you know, today if you look at what's going on, tomorrow you've got a pretty big commodities number coming out, but all in all, commodities really taking it on the chin here. i think that's going to take a while to work through the rest of the economy and to really help the consumer, but it's nice to see oil not taking on $50 a barrel. maybe we're going to trade between 40 and 50 for a while here. liz: yeah. well, look, i'm looking at copper, six-year lows. that is, of course, the proxy for the health of china's manufacturing sector. doesn't look good. >> liz, you know -- >> absolutely. >> one of the problems is there's just no demand. and there's no growth out there. so, yes, it ought to be good for the consumer, but the bigger
picture is there's no demand -- liz: well, maybe a tightening of rate hikes might in an odd way spur demand. teddy, chris, great to see you. thank you so much. we're 48 minutes away from the closing bell, and what do we have here? we have a selloff right now. dow jones industrials down 217 point toings. i'm watching watching the russe, it's down 1.5%. as we take you back to milwaukee, i hope you've set your dvrs and your tivos. we are going to find out what wall street wants to see from the candidates, but will they get it when main street is still questioning how wall street can be doing better than main street. we have former ubs chairman joe grano and charlie gasparino joining us next live here on "countdown to the closing bell." don't go away. ♪ ♪ we live in a pick and choose world.
love or like? naughty or nice? calm or bright? but at bedtime ...why settle for this? enter sleep number. don't miss the semiannual sale going on now! sleepiq technology tells you how you slept and what adjustments you can make. she likes the bed soft. he's more hardcore. so your sleep goes from good to great to wow! gift the best sleep only at a sleep number store. save $500 on the veteran's day special edition mattress with sleepiq technology, plus 36- month special financing. hurry, ends wednesday! know better sleep
with sleep number. liz: we've got breaking news here with 43 minutes left in the session. the dow is heading back down to session lows. it is down 228 points. let me just make a point here, the low of the session down 243 points. for the s&p right now, we're down 27. the low was down 33. the trend -- 31. the trend at the moment, i stress at the moment because we still have more than a half hour
to go here, the trend is to head lower at this point. again, six-week lows overall for the markets as we see decline, fears that we will, indeed, see a rate hike come december. in fact, some traders here saying the fed has no more excuses after stronger-than-expected jobs report in october. met me show you some stocks that are, interestingly, should be to the upside, but today are getting caught in the downdraft. general motors supposed to be getting the barron's bounce, gm is flat to slightly lower at the moment. flip it over to volkswagen, and the news is that volkswagen is going to be giving -- trying to get a little bit of goodwill back after the rigged diesel emissions scandal -- says they're going to give cash returns at least to some of these diesel car owners that were promised clean diesel cars, and it was just a total disaster. that's volkswagen, it's down about a percent. ford, we should mention, ford is down about a percent too. ford is lower because, well, it
shouldn't be because it appears to have struck a deal with the uaw, the autoworkers, but at the moment it's all getting caught in this downdraft of the markets, as i said, the s&p down 27 points. the markets making big moves today, not necessarily in the direction that the debate leaders would like to see, at least the debate participants in milwaukee. very little has been asked of the 2016 candidates about, you know, how would you handle the economy? what would you do? keeping in mind you have to work with congress, can't just make these bold statements and say i'm going to do this, i'm going to do that. you have to govern. you have to know how to lead. tomorrow as wall street watches as well, what are they looking for in a presidential candidate? joining me now is a guy who can perhaps give both main street and wall street because he used to be ubc chairman and ceo joe grano, but now he runs a business of his own, route 9b, of which he is the chairman and ceo. thank you for joining us.
right off the bat, you do give both that smaller business and larger business perspective what's the number one thing you need to hear from these candidates? >> i think you hit on it, liz, it's leadership. we have a divided congress and a increasingly divided nation, and i think we need a leader that can coalesce this country. liz: what do you need in terms of that? it's a broad statement to say show me leadership. people can bloviate and say i'm going to do this and do that, we've seen a couple of these candidates do that, but you need to see texture and granularity about how they do it. >> first of all be, that's pretty difficult to display with a seven-minute debate. i think you need more granularity, like you suggest. but i think the next president of the united states or whoever it's going to be has to show our nation that he or she is client-sent rick and solutions-based -- centric and solutions-based. talk about the problems that are facing us which are very serious right now and show us what solutions you're going to put on the table.
not political rhetoric, actual solutions. liz: listen, wall street would love to see the corporate rate tax come down or the individual rate come down. almost every single one of these gop candidates is east floating a -- either floating a flat tax or dropping the individual rate from what is now 39% to anywhere from 20-25%. is that enough of a solution? >> well, i do think that there is a wealth gap, and it's real. it's not just perceived, because anyone long assets with zero interest rates had a shot of adrenaline with net present values. i'm an advocate of a increase in the minimum wage of, let's say, to $10 and 50 cents a year until you get to 15. but simultaneous to that, we should drop the corporate tax rate from 36 to 30 so entrepreneurs can afford the increased labor costs. i think it's a shot of adrenaline on both sides of the body. liz: isn't that interesting? you're now at 30% for corporate tax rates versus 35. a lot of these guys are saying
cut it down to 25%, we've heard warren buffett say, you know, corporations can do just fine at 30% or perhaps even higher. but you talk about the minimum wage. i want to bring in charlie gasparino too. charlie, rick santorum is one of the few candidates on the gop side who says raise it. raise it a little bit. because constantly everyone's talking about the business owners and not enough of the gop candidates, he would say, are talking about the workers themselves. it's an interesting point, charlie. >> yeah. i would say this, i'm here at, in milwaukee where they're going to be doing the debate tomorrow. i bet you there's not a single gop candidate that embraces raising the minimum wage. i will say this, the economics when you get away from the class warfare rhetoric, the economics is pretty simple. you know, jobs go down when you raise the minimum wage in those sectors. people actually end up not doing as well overall. so i would just say this that, you know, raising the minimum
wage right now, a government raising it, not the fact that, you know, businesses might be raising it, is a, is not going to pass when a republican president and certainly not a republican congress which you're probably going to have a republican congress. you might have a republican president. liz: and, charlie, these guys, these candidates really have to be careful about speaking too much to wall street versus, you know, giving main street a nod or two, correct? >> yeah. i mean, let's face it, grassroots republicans are almost as much anti-wall street as the socialists that are in the democratic party or, running the democratic party. but i will say this, and joe grano is there, tomorrow is going to be a big day for the establishment because, here's thing, the establishment has money. it controls about 20% of the electorate, republican electorate, but it's where a lot of the money is. it's 40 blocks in manhattan, it's places like texas. that's where establishment money
goes, and i'll tell ya, the word i hear particularly from people that are in the rubio camp or, you know, inside -- in the middle, if rubio has a good debate tomorrow, that money is going to start shifting, and that's important. it's going to start shifting to him. but he will be the alone establishment candidate. and i think it's going to be hard for jeb and chris christie to fight that. liz: joe, is rubio the guy? is he ahive? is he the one -- alive? is he the one? >> i think it's important that the republican party can carry florida as well as ohio, and i will tell you the three governors, including chris christie, are the only three candidates up there that can point to some well-deserved kudos in terms of job well done, in my opinion. >> yeah, but, joe, they're getting no -- >> oh, i know. i understand. >> they can't break through. the only one that's kind of broken through is rubio, and, you know, i think this is where it becomes interesting. odds are if they don't do well
tomorrow, odds will be that jeb bush and -- liz: but remember, charlie, timing is important, you know? november, what we see in november doesn't necessarily cry for what we see in february. >> but it's all, the money, the money is basing it on these debates, i will say that. >> christie's going to surprise you in new hampshire, i think. >> okay. >> i think he's going to surprise you. liz: he's certainly surprised a lot of people, joe, i think you're right on that front. and he has been the only one who says just give me the podium, you tell me the time, i am there, and he has governed. charlie, you look great out there, mr. gasparino, very nice. so do you, joe, it's a pleasure to have you. joe grano, former ubs chairman. lou dobbs, you've got to watch for this, he's going to cover this issue and many more tonight. i need you to stay tuned tonight. it's a special two-hour edition of lou dobbs tonight live from milwaukee. do not miss it, 7 p.m. eastern. we are going to be right back.
so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they pick up some of what medicare doesn't pay and could save you in out-of-pocket medical costs. call today to request a free decision guide to help you better understand what medicare is all about and which aarp medicare supplement plan works best for you. with these types of plans, you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and virtually no referrals needed. there's a range of plans to choose from, too, and they all travel with you anywhere in the country. join the millions who have already enrolled in the only medicare supplement insurance plans endorsed by aarp, an organization serving the needs of people 50 and over for generations... and provided by unitedhealthcare insurance company,
which has over 30 years of experience behind it. ♪ call today. remember, medicare supplement insurance helps cover some of what medicare doesn't pay. expenses that could really add up. these kinds of plans could save you in out-of-pocket medical costs. you'll be able to choose any doctor who accepts medicare patients. and there are virtually no referrals needed. so don't wait. with all the good years ahead, look for the experience and commitment to go the distance with you. call now to request your free decision guide. this easy-to-understand guide will answer some of your questions and help you find the aarp medicare supplement plan that's right for you.
♪ ♪ liz: oh, autograph lining walls, it's usually jlo or brad pitt or george clooney, but guess what? politicians too get asked for their signatures after john hancock himself made it so incredibly hot, i guess. you know the old john hancock? because he had the best one ever. mine's horrible. well, in brew town -- milwaukee, of course -- one pub is the required stop for all the candidates on the presidential campaign trail, so we sent peter barnes there live. he's standing by in milwaukee's newsroom pub -- oh, i like name of that place -- to ask voters what they need to hear from the candidates tomorrow night. hi, peter. >> reporter: well, hey, liz. that's right. this is the headquarters of the milwaukee press club, the
newsroom pub, of course. and in wisconsin's political tradition, the candidates usually come by and talk to the members of the press club, the journalists who are members here in milwaukee, talk about the issues, of course, and do interviews. but then afterwards they sign their autographs to what they call these plaques, and then these plaques are, go up on the wall of the newsroom pub, the press club headquarters. and it all started back with william jennings bryan back in 1899. and as you can see from the wall here, of course, politicians -- hundreds of them -- have come through here and put their, met with reporters and put their autographs up on the wall. there's jimmy carter, woodrow wilson in 1910, teddy roosevelt in 1903. over here john kennedy in 1959 when he was a senator from massachusetts running for president, here is when he actually did it. and today, as in kennedy's time,
of course, one of top issues for voters is the economy. according to a poll of wisconsin voters just last month, that is their top issue in this election and, obviously, what they'll be wanting to hear in the debate tomorrow night. 60% of them in the poll describing the economy as not so good or poor. >> we are heavily reliant on manufacturing. our manufacturing jobs haven't recovered, in fact, they are weakening, and it's really putting a lot of hurt on a lot of our communities. >> reporter: so voters will be wanting to hear what these candidates have to say about manufacturing. and as for candidates who might stop by here to sign a plaque, we're hearing from the press club at least one, dr. ben carson, has said that he will stop by. so we'll be watching for that. liz, back to you. liz: well, he'll be in great
company, i mean, roosevelt? that's amazing, i love that. that is fascinating. >> reporter: yeah. liz: very cool, peter, thank you so much. peter barnes right there showing you, you know, in every town it matters, right, when it comes to all of the caucuses and the debates, you've got to stop at one or two pubs and just leave the old john hancock. let's take a look at beer stocks since that's a pub. everybody's pretty much down from molson to inbev except for boston beer company, maker of sam adams. closing bell, we are now 27 minutes away. we're coming up off the floor, but the dow is still down 185 points. that cold water splash in people's face as to when we will see a rate hike come december, it's looking more like it right now. no promises though. there will not be peace in the middle east on their watch. the frosty relationship between president obama and israeli prime minister benjamin netanyahu has certainly bun one of the stomach -- has been one
of the stumbling blocks on the road to peace. the latest on today's white house meeting. was there a little bit of a thaw in the frosty relationship? and much more from milwaukee. yes, of course, wisconsin as fox business gets ready for that all-important fourth republican presidential debate. we are, coming up, focusing on fundraising, because one great debate performance can mean a whole lot of money coming in to perhaps one, two, three or four of the candidates. former nebraska governor heineman and democratic fundraiser robert zimmerman both live, coming right back.
strained relationship. it is, of course, a major tropic, but they have to face each other, and that is the discussion of extending the $30 billion military aid package from the u.s. to israel. listen. >> i want to the thank you for this opportunity to strengthen our friendship which is strong, strengthen our alliance which is strong. liz: strong or scorched. here now first on fox business, richard haas, he is, of course, the president of the council on foreign relations for 13 years. richard, is netanyahu being put in the position where he has to go and not necessarily kiss the ring, but ask for the money? because that money has certainly helped them with everything from the so-called iron dome which protects israel from incoming missiles to all kinds of other support? >> well, liz, the money has been considerable, and it's going to continue in any event given the support for israel that goes way beyond the white house, obviously, with congress and a
large chunk of the american people. the israelis, though, are interested in getting even more help, and my guess is it'll be forthcoming given the extraordinary instability on israel's borders and beyond. so i think there's a strong case not just to continue or expanded help for israel, but for a closer u.s./israeli relationship. so the real question coming out of today is whether we made a little bit of progress in that direction. liz: yeah, progress. but is this face-to-face meeting an indication that the earth that everybody thought was scorched over the iran nuclear deal which the united states backed against israel's greatest wishes is not necessarily scorched, but perhaps just singed? [laughter] >> well, again, both countries have real self-interest in finding a way to work with one another. whether the issue is the stability of jordan or what's going on in syria or a million other things. so it overcomes the personal
animosity, the lack of mistrust. but i'll be honest with you to be realistic for a second, the two haven't within tested. -- been tested. there hasn't been a crisis when they've had to work closely with one another, and that could well happen over the next, what, 14, 15 months that barack obama's still president. liz: i can't let you go without asking you simply because in hindsight this iran nuclear deal looks a little tentative only because -- not the deal itself, but because since then iran has tested a missile, iran has arrested a u.s./iranian executive who was working to bridge the gap between the two nations. does it look like the iranians simply got what they wanted, turned around and thumbed their nose at the united states and said, death to the u.s.? we said it before, we'll say it again. >> i wouldn't put it that way. the deal was always a narrow one dealing mostly with nuclear issues, and the iranians are beginning to comply in that area, and i think for the next
10 or 15 years the deal will help us around iran's centrifuges and enriched uranium. but the deal will also give iran access to a lot more money during during that time, and it doesn't answer questions about what iran might do in the renal or what it might do -- in the region or what it might do in 10 or 15 years in the nuclear realm. it was a narrow contribution, and there were some things the deal arguably made worse: it's a mixed bag, that's what you have. liz: yeah. and the israelis know it. richard haass, it's wonderful to see you, thank you so much. >> thanks, liz. liz: with the council on foreign relations. we have come since the top of the show off 50 points, we've sliced 50 points off the lows here. we're now down 161 points for the dow jones industrials. we sliced another two points off the loss to the s&p which is now down 18. we're watching this market slowly, not surely, come back. with the closing bell ringing in about 17 minutes from now,
you've got to stay through it with me. they are putting the finishing touches on the fox business set in milwaukee, wisconsin, for tomorrow's gop debate. fox business hosting the fourth republican presidential debate. we have a topnotch political panel that's going to focus on hows and the whys and the whats and the how muchs when it comes to fundraise anything the wake of a debate -- fundraising in the wake of a debate. oh, gosh, one great zinger line can get amazing influxes of cash. former governor of nebraska dave heineman has had to raise money for a bunch of campaigns, he's going to give us the inside scoop along with democratic fundraiser robert zimmerman works on the other side. don't go away, we're live from the floor of the new york stock exchange. it is your money, it matters to us. ♪ there are. ♪ ♪ 40% of the streetlights in detroit, at one point, did not work.
you had some blocks and you had major thoroughfares and corridors that were just totally pitch black. those things had to change. we wanted to restore our lighting system in the city. you can have the greatest dreams in the world, but unless you can finance those dreams, it doesn't happen. at the time that the bankruptcy filing was done, the public lighting authority had a hard time of finding a bank. citi did not run away from the table like some other bankers did. citi had the strength to help us go to the credit markets and raise the money. it's a brighter day in detroit. people can see better when they're out doing their tasks, young people are moving back in town, the kids are feeling safer while they walk to school. and folks are making investments and the community is moving forward. 40% of the lights were out, but they're not out for long.they're coming back. the has unlimited access is thatto information,tion
no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good. usaa makes me feel like i'm a car buying expert in no time at all. there was no stress. it was in and out. if i buy a car through usaa, i know i'm getting a fair price. we realized, okay, this not only could be convenient, we could save a lot of money. i was like, wow, if i could save this much, then i could actually maybe upgrade a little bit. and it was just easy. usaa, they just really make sure that you're well taken care of. usaa car buying service. powered by truecar. online and on the usaa app.
ardo you have there? coverage you need? open enrollment ends december 7th. don't put it off 'til later. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about the kinds of coverage we offer, including aarp medicarecomplete plans insured through unitedhealthcare. these medicare advantage plans can combine parts a and b, your hospital and doctor coverage... with part d prescription drug coverage, and extra benefits... all in one complete plan... for a low monthly premium, or in some areas no plan premium at all. unitedhealthcare doesn't stop there. you'll have $0 co-pays for preventive services... like an annual physical and most immunizations. other benefits can include routine vision
and hearing coverage and the pharmacy saver program gives you access to prescriptions as low as $1.50... at your local pharmacy, in retail locations like these. or pay zero dollars for a 90-day supply of your tier 1 and tier 2 drugs, delivered right to your door. just a few ways we connect you with the people and programs... to help give you a better healthcare experience. call to enroll today and enjoy these benefits and more, like renew by unitedhealthcare, that rewards you for making healthy choices. your healthcare needs are unique. that's why, with over 30 years of medicare experience, we'll be there to help you along the way -- we can even schedule your appointments. open enrollment ends december 7th. so don't wait another day. if you're medicare eligible, call now... and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path.
call unitedhealthcare today. ♪ ♪ ♪ liz: if you slap what's called a star filter on a camera, you get that star effect. take a look at the stage right there in milwaukee, fox business owns it. we are on it. that is the site of the debate tomorrow. that's what i used to say in local news, just slap a star filter on the camera from circa 1990 and, boom, everybody looks better. well, it's not our business to make these guys look better tomorrow night, the gop candidates must make themselves look better to the voters with their plans that they articulate. what happens after a debate often becomes this, an influx of fundraising when you have a great performance. bringing in now at least one guy who's had an incredible performance himself, former
governor of state of nebraska dave heineman, and a guy who's had some great performances for his clients, he is democratic strategist robert zimmerman. >> good to be with you both. liz: great to have you, clinton's finance committee. look, reality number one, governor heineman, it's a little distasteful to talk about the money, but it is a reality here. what must be done during a debate performance to get that chute of cash that comes flying through after a debate? >> liz, what i think is critical, you've got to articulate a vision where you want to take your state or, in this case, our nation. and i think for the republicans debating tomorrow night, they need to talk about lowering tax rates for individuals, for small and medium-sized businesses. how we're going to move towards a balanced budget at the federal level. because right now wall street is getting richer, but main street's suffering. and that's what the american voters want to hear about. and when you do a good job, it makes a difference. i can remember my first campaign. i had to run against the most
revered man in nebraska, our football coach and congressman at the time, tom osborn. winning those debates allowed me to come from 40 points behind to, ultimately, win that primary. so debate performance is critical. >> and, governor, to your credit, you always ran with a vision, with programs and specifics and led your state with great distinction. what makes the debate so fascinating in the republican field so fascinating that they literally brag about donald trump about not having specifics or in ben carson's case, fabricating his background. and in each case, these two front runners have been able to raise a fortune and galvanize support just by simply blaming the media, even when it's "the wall street journal" who's on the attack and raising questions. liz: governor, that's an interesting point too because donald trump -- i'll just do it. i will put up that wall, and the mexicans are going to pay for it. you know, you governed an entire state. chris christie has, bobby jindal has, certainly, and we've got
other people, john kasich too. you got those candidates who haven't really gotten the traction right now, so what happens when you -- do you think that that is, perhaps, why a kasich isn't getting out there constantly, he's keeping some powder try and helping for a zinger or two during the debate where he gets that influx of cash? >> remember where we're at in the debate cycle. not a single voter's cast a ballot yet. we're right next to iowa, i talk to my friends over there all the time. this is kind of a dating game right now. they're all checking out all the candidates, but now they're going to get serious. and, you know, my sense is you're going to see the other candidates, governors, senator rubio and others come more into play. senator rubio in particular. while i've not taken sides, i've been very impressed with what he's doing. he stands to move forward with another good debate performance tomorrow night. and here's the other thing that's telling about that, the clinton people really don't want to have to run against him because that'll be a race, the past being hillary clinton, the
future being marco rubio. liz: quickly. >> i'm a hillary clinton supporter, i don't know how you got that insight, that inside information that others don't. i think you're stretching it a bit there. i think the reality here is any republican candidate who can try to speak to the issues and speak with facts has credibility in a general election. the reality here is this republican field which gets support are from the republican base by denying climate change exists, by demonizing undocumented workers, by absolutely having no economic agenda besides rhetoric, i think this republican field ultimately is able to survive in a republican contest in a fact-free world. it'll be up to the anchors tomorrow night -- and i know they will -- they'll be putting some important questions to the candidates. liz: they will. >> and making history. liz: and we can promise that right here. i want to thank you both so much. governor, please come back. robert zimmerman, you're always welcome. listen, it gets feisty because this is crunch time. one more day, and tomorrow night it is the big moment, the big gop debate right here on fox
business. we're seven minutes away from the closing bell, coming off even more off the lows, dow jones down 150 points. we are coming right back for that final, all-important closing bell. don't go away. ♪ ♪ the pursuit of healthier. it begins from the second we're born. because, healthier doesn't happen all by itself. it needs to be earned every day. using wellness to keep away illness. and believing a single life can be made better by millions of others. as a health services and innovation company optum powers modern healthcare by connecting every part of it. so while the world keeps searching for healthier we're here to make healthier happen. . .
who's going to take care of the christians that are being eliminated in the middle east? who's going to take care of israel and support them - our greatest ally in the middle east? the united states has the capability of doing this, and it's in our economic and national security interest that we do it. i will be that kind of president and i hope you want that kind of president for our country going forward. announcer: right to rise usa is responsible for the content of this message.
♪ liz: tough day for the dow components. the only two to the upside for most of the session, dewpoint and disney. disney still getting long tail from the movie that hasn't even come out yet, "star wars," the force returns. i want to bring in ashley webster here on the floor with me. we do have the worst selloff in six weeks along with alan knuckman at cme. alan, gravitational pull of the fed appears to be strong as it sucks all planets to pull into the dark matter to pull off from the astronomer's picture. what do you think? >> can't we just enjoy? a-plus on friday. markets seeing sell the fact
selling. with reality rates go up in december, 70% chance now. if you look at past history, past history six months after a rate hike it has been 2 1/2% move in the broad market since 1970. it is all positive. people are using this as excuse to take a little off the table after the huge run we've seen. liz: why not, huge run six weeks long. when you see this down on the 172 on dow jones industrials, with two minutes to go not the worst thing. >> lions gate has "hunger games" final installment. lousy month of october for hollywood. they hope november, specter the latest james bond movie. november 20th, the latest "hunger games" comes out. people are staying home to watch netflix. liz: mocking jay part 2.
david asman, he loves "the hunger games." hand you a sell-off. but wasn't as bad when i got it at top of the hour. david: you take credit for everything. you mentioned "the hunger games," so all is forgiven. liz claman has my vote. thank you very much. countdown to the showdown. we're only 27 hours away, yes, we are counting the minutes for the next gop debate hosted by fox business and "wall street journal." melissa: we're live in milwaukee for preview. head republican national committee, reince priebus gist us his take. david: right after that charlie gasparino will give us his preview. talk about awkward, first meeting between israeli prime minister benjamin netanyahu and president obama since the two men strongly disagreed about the iran nuclear deal. former israeli ambassador dan geller man will join us live from tel aviv.
melissa: first stocks fighting back on wall street. the dow down 240 points after the low of the day. [closing bell rings] as the closing bells sound on wall street, we're down 179. down 20 on s&p 500. that is almost a full percentage. look at russell getting hurt there as well. david? david: let's talk in more detail what is happening with the markets. we have leif mardell and chad morganlander join us. chad, first to you, we have the chinese numbers which essentially say they're not exporting a lot of stuff because the rest of the world is not buying a lot of stuff. is that why the market is down? >> absolutely. they're not importing either. you have global growth decelerating. one has to keep in mind, 75% of the global growth comes from emerging markets. so what we're expecting