tv Countdown to the Closing Bell With Liz Claman FOX Business November 30, 2015 3:00pm-4:01pm EST
facebook.com/realtrishregan. join the conversation, we're going to continue talking about all these things. i want to hear what you have to say. we're there every day, all day online. liz claman, over to you. liz: real trish, thank you so much. real liz is here. buckle up, it's the last hour of the last day of trading, and for the month of november, the markets -- while down right now on the session -- are up for the month. the bulls are thrilled about that. could that change at this hour? we are watching every second of trade for you. stay along were for this ride. are are you more than one of the 121 million americans shopping from their homes and workplaces in front of computers today? we have this breaking news at this hour, cyber monday sales have broken the record, they are sparkling, and so is blue nile. the leading online diamond jeweler. we've got the site's most in-demand sparklers right now, standing by in this our studios. wait until you see the tens of thousands of dollars of diamonds
they're bringing on set. super mario to the rescue, one of the most respected investors on the street tells you the way to set up for a january stock bounce. he's ready. >> yeah, but retailers are knot the ones that sell diamonds, but they're more the ones that are important to those who need them. auto parts and things you need for home work, home depot and lowe's. liz: that's the key. his first comments about mario's longtime favorite stock, whether to hold or sell that stock. we have good news for gas guzzlers, the average price of gasoline now $2.04, but with the opec meeting this friday and, of course, the turmoil in the middle east, are we on the cusp of a policy change for the world's largest producer? with us, former ambassador to saudi arabia, robert jordan, on what's going to push the saudis to move. will it be oil or isis?
too much of a good thing? marco rubio leads the gop candidates with endorsements from congress, but could this ultimately be his demise? we're going to look at the pros and cons of his support base. we're about to rock and roll on this cyber monday. so with one eye on your shopping, that's okay, keep the other on us, and let's start the "countdown." ♪ ♪ liz: and we are continuing to follow breaking news at in the hour, the story that has the massive metropolis of chicago rivetted right now. naacp protesters were told have just been arrested after parading coffins in the streets of chicago in this last hour. they, of course, have been voicing their anger over the shooting of laquan mcdonald by chicago officer jason van dyke. the situation is very serious. not only is the shopping district very tense with heightened police presence, but the university of chicago has closed its campus after an online threat to kill 16 white students in retaliation.
jeff flock is on the scene. we're going to be bringing you any new developments as they emerge. meantime on wall street, it is, of course, the last day of trade for november. on your screen, the markets. dow down 56, the s&p down 6, the nasdaq down 17. you could call this a narrow trading range because we've been closer to the flatline, not much action, but the floor stocks that are leading the dow this month, home depot, dupont, nike and goldman sachs. at the moment it's caterpillar and microsoft that are moving higher. we did have microsoft getting a strong buy rating from raymond james. chevron and exxonmobil, the big oil names, also moving higher. investors, of course, may be stuffed from turkey, but let's stuff you now with real focus on how to bring some holiday cheer to your portfolio. no better person to give us a holiday investing plan than gamco investors' chairman and ceo. huge question marks hangover this market between now and the
next couple of months, but as we hook at the macro picture here, the question marks are isis, the federal reserve and whether it will hike rates in december, just a few days from now. we've also got a quiet consumer or a questionable consumer. and on top of that, should we invest in stocks or not? >> wow. you've got a long christmas list. liz: man, i hope you have a good memory. >> i can remember all of it. about a year ago we were worried about ebola, now we're worried about isis. we should have been worried about isis three or four years ago -- liz: okay, but we weren't. >> we'll have an election in 12 months, but that's an ongoing issue. with regards to the consumer, the consumer's balance sheet is at an all-time high. $100 trillion, debt is $14 trillion, the two areas you worry about, liz, student loans and subprime for cars. so the car sales, which are going to be vibrant in november, you have to worry what's going on underneath. with regards to the consumer, gasoline, that is food and fuel prices have come down sharply.
their after-tax spending is doing well. wages are rising, jobs are more plentiful. i think it's going to be a very merry but subdued, practical christmas, but everyone is telling me -- including those that i watched around aty'ava rd -th'rsh treg i r ayht. that is a good thumbs up for the consumer's health. but as you look at the stock market, you've always been a bottoms-up research guy looking at individual stocks. you fly to companies -- >> yeah, i do all of that, and we still do that. that's the best part of the business, passion, intensity, focus and profits. liz: okay. what are you passionate about right now? if you're looking at the retail world, and you had said this isn't the diamonds, you've got diamonds of a different sort, do you not? >> well, everything is a precious stone -- [laughter] and sometimes they're in the raw and they need a little nurturing. we've always said, hey, for the last year or two, starting last year at thanksgiving when you
had the thanksgiving day oil massacre, let's look at the users of energy and how they benefit. one company in san antonio has not done as well, but it's done extremely well but can do better is cst. they are a convenience store where you go in and get gasoline, you have money leftover, and you're spending stuff on other goodies that they sell. casey's has done extremely well. murphy usa, sonoco. so there's a cluster of these companies -- liz: and to that end, if you then do the actual, i guess, broaden the aperture here, you're looking then at cars and how well they're doing and auto parts guys. >> yeah. well, cars are kind of peaking out, and that subprime does bother me. you know, a lot of issues that i'm concerned about as to incremental production and incremental sales in the u.s. but not europe. liz: both these names you have liked in the past -- >> autozone, o'reillys, pepboys,
those that are selling cars to either do it yourselfers -- liz: and you like that. >> yeah, i ladies and gentlemen that. genuine parts, liz, i fell in love with in 1967 when i first visited them. that's the naba stores. so i don't love 'em and leave 'em. but they've had some headwinds due to the currency -- liz: autozone's up 36% year-over-year, o'reillys has had a wonderful run too. you still think there's more upside to these name t? >> well, i think the category, both of these companies that you mentioned, autozone and o'reillys, have been basically taking incremental cash flow and buying back stocks. to the degree that one should say even god rests after seven days or six, we want to rest on the stocks, and we want to move on. liz: right. and what about january? you've talked about how people may get nervous and sell off the stocks, obviously, but january's a bounce? >> no. do it another way.
the practical side of the individuals that are taxable, that is the individual investor, he says am i leaving a tax year with realized gains and unrealized losses? so they will sell stocks that have losses in them to neutralize the out-of-pocket cash. and in january n quotes the january fed, some of them bounce. now a lot of the selling by institutions take place a little loosely. so what would be in my basket of things to own, if the saudis were to ever blink, you get a company like freeport be at $8 -- liz: that's cheap. >> you could buy a lot of diamond rings with that. liz: there's some breaking news on what's going on in washington d.c. we have that for you right now. house speaker paul ryan is formally inviting president obama to deliver his state of the union address before a joint session of congress. the date, january 12th at 9 p.m. you know, there's such discord between the republicans and the democrats. is that great for stock picking?
people often say that that is, that that works -- >> well, there's a notion that a dysfunctional government doesn't work. on the other side of the coin, we need to keep america as a leadership role both in the economy and in terms of job creation. liz -- liz: mario. >> -- inland waterways, barges, bridges, roads, an infrastructure bill has to be done. liz: gotta get done. >> and it's got to be financed. and it's nice to pay lip service and to say the roads suck and are bumpy and you can basically go ahead. we are buying the companies that benefit from that because we think it's got to happen. 40% of our 500,000 bridges have d-. what are we waiting for? liz: i know. put people to work. >> better jobs and more fundamental, it solves the cost of inefficiency in our system. liz: okay. speaking of grading, you've got to give an a+ to a lawsuit at least for the drama factor on a stock that ever since mario has come on this program he has always loved, and that is viacom. it broke on the day before thanksgiving, but it is still
very much a story. the steak and sex lawsuit. this, of course, involves a former companion of sumner redstone, the chairman, she was his girlfriend. she's been kicked out of his mansion. she says she should be in charge of his health. he's 92 years old, and what do we have here? she has a lawsuit that she's filed to get back into his inner circle's good graces. she wants to be a part of that. she says he cannot have real mental capacity at the moment to run viacom, that he is -- and these are quotes -- he's a living ghost. he cannot converse them, he only grunts. he has crying spells and, quote, he wants steak and sex daily. does this hurt the stock? >> you gave me a lot of interesting, in quotes, page six type news. from my point of view, i've followed viacom since 1973 when it was spun off from cvs. the stock is selling at 50,
you've got 12 billion in debt, and i think they need a jolt to overcome the notion -- liz: it's a jolt, mario. i don't know, is it a jolt in the wrong direction? if you had to pick between that and the spunoff cbs reason by les moonves, which would you pick? >> well, i'd pick them both. les has done a great job, and they have to do more on the programming side -- liz: so this doesn't hurt the company short term? down 5% since last wednesday. >> short term, i don't know the answer to that. i know that if somebody else were running either piece or sumner was not around, we would have an interesting time frame in which eyes will be focused on financial -- liz: you're holding on to viacom. >> well, both viacom and cbs. we are the largest holder outside the family trust with regards to voting stock. liz: so hollywood drama doesn't affect -- >> oh, come on, it's fun, you know?
a 92-year-old guy, and they call him incompetent, yet all he wants is steak and sex? come on, liz, be practical. liz: you're saying, what, if it were you, you'd want gnocci. >> vino -- i was trying to figure out what it was. liz: did i mispronounce it? >> you did great. liz: all right. he's holding viacom, he's holding cbs. it's great to see you, mario. happy holidays. >> you too. plenty of things to cheer about in 2016, particularly after the election. liz: he likes stocks. thanks for sharing that with our viewers. >> delighted to be here. liz: the dow is still down 50 points, so mario, in his opinion, shaved about six points off the losses, but the closing bell is ringing in about 48 minutes. marco rubio is leading the gop candidates with support from his fellow congressmen and women, but will this be the kiss of death for his campaign when insiders are not the most loved right now by at least people taking polls?
now, the if diamonds are a girl's best friend, then this man is very popular. the world's largest online diamond jeweler tells us why consumers are saying i do and ditching tiffany's and harry winston stores and making their purchases online. stay tuned. ♪ ♪ but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running.
♪ ♪ liz: o.k.. you know this because you've been watching us year after year. after black friday comes cyber monday. this is the day that online retailers offer blockbuster deals for web shoppers. the national retail federation says it's already a record breaker. that we got in the last couple of hours. online sales are going to jump as much as 8% this year to a pretty massive $108 billion. i'm guessing about 90 million hits, visits on 4500 web sites. combine the cyber madness with the peak season for getting engaged, and the world's leading online diamond jeweler finds itself in the middle of a perfect storm. harvey cantor, ceo of blue nile, has brought more than $20,000 worth of jewelry -- that's it? i think it's more than that, right? when you're looking that all you have out here. take a look at my wrist if you can get a tight shot. this is an 8-carat tennis
bracelet. how much is this costing? >> $24,000 every day, but for cyber monday, $12,000. liz: that's so inexpensive. notice i didn't say cheap. but it has to be today. >> has to be today. liz: bluenile.com, $12,000. how are you able to do that? and is it sort of a doorbuster situation where you're going to lose money on this? >> no, fundamentally blue nile has a different cost structure. we bring incredible value through the sourcing supply chain we have. liz: tell me, i know you're obsessive, you've been calling every minute to find out how's it going, what's the breaking news on blue nile's numbers? >> you know i can't share specific numbers, but we've had a solid day, solid week. traffic is up, revenue's up -- liz: when you say up, better than last year? >> better than last year and very strong on mobile. liz: okay. so people are buying a $12,000 present on snowball. >> they are. our web site -- on mobile?
our web site experience is really easy to shop. liz: we've been checking in on amazon all day long because they have a big packaging center in new jersey. i went on amazon's site, i clicked on jewelry, they've got a lot of diamonds out there. we even showed some of the web site, we can show that to our viewers right now. who's your threat? is it tiffany? is it signet or is it amazon? >> in reality no one is specifically a threat. the value we bring to market is unmatched. so we continue to bring great value to market and continue to drive great, great gift ideas. liz: what are your best sellers this year? >> diamond tennis bracelets are phenomenal. our eternity band today only is doing well -- liz: it's the middle one. >> yeah, it's about $6,000, but today it's about $3,000, so it's a phenomenal, phenomenal value. liz: how many diamonds in that one? >> this is a 5-carat. liz: and the necklace next to it.
>> saf fife and diamonds, typically $3,000 and 50% off of that -- liz: tilt it up. >> it's a wonderful piece. liz: i am wearing blue nile earrings that i got a couple years ago, and they are similar. >> they will match. liz: i thought, oh, harvey's here, let me make him happy. sapphires, diamonds. it's a wonderful time, except that you look at a consumer, and you're a great sense, a temperature gauge of how the consumer's doing. how is the consumer doing? >> you know, our core business is really solid. we've had three quarters of double-digit growth, customers a little volatile, but the core part is very solid. it's the upper end, the $400, $500,000 diamonds not selling at the same level historically. liz: the brick and mortar gang is getting smart. you also have a few stores, you plan to open two or three more. but between tonight at 11:59 when cyber monday ends and december 24th, what tricks do
you have up your sleeve, harvey? you've got to have more of these special moments, do you not? >> we have many special moments, and the greatest part about it is we can deliver most of them overnight. so no matter where you are, what device you come to us, you can pick something wonderful and have it literally at your doorstep most cases the next morning. liz: the $12,000 deal on this $24,000 bracelet i am wearing expires when? >> it expires tonight. and i can leave it with you. [laughter] liz: thank you. if i hand over the credit card, right? good to see you. >> thanks so much for the opportunity. liz: harvey is saying he is doing better on blue nile than they did last year. that's certainly a good sign. >> indeed. liz: everybody says the economy's worse. not for bluenile.com. thanks so much. >> have a good holiday. liz: it's a $6 6 billion industry, but the skeletons in the art world's closet are what really make it a story.
coming up, fox business' hit show "strange inheritance" and the most stunning story about lost art and the skeletons that are now being exposed. follow me on twitter @lizclaman, lizclaman.com. countdown is coming right back and, boy, do we have a treat for you. a dramatic reading of kobe bryant's good-bye basketball poem. don't go away, can't miss that
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♪ ♪ las liz: obviously, the art world has done incredibly well for wealthy investors, they've turned to unusual money-making machines in the art investment plan. in just two weeks this past month, auction houses sotheby's and christie's sold more than $2 billion in art, smashing records for fall auctions. 179 million for picasso and then it goes on and on. so what does a holocaust
survivor and a billboard painter have anything to do with that? "strange inheritance" host jamie colby bringing us the story tonight of a painter and holocaust survivor who left behind a dark secret and a diary that revealed much. >> yeah. you would think inheriting a diary would just have sentimental value, and in the end, the heir that we talked to is it centered on a journey, one she never expected. she knew her father had been at auschwitz in a death camp, he survived by painting members of the family of the gestapo in order to stay alive. what he didn't know was there was so much art that he had painted that was loot by the nazis and hidden all over europe. this diary gave her clues to her journey. she traveled all over europe. she's recovered a lot of the art, and we went all the way with her to the museum, the holocaust museum in washington, d.c. where she explained to us the significance of her father's paint beings. not just -- paint beings.
not just of the portraits, but some showing ec locution by choice, things that he witnessed that he hopes people will never forget. that's one of two episodes that really prove sometimes it's not what you inherit in terms of monetary value, but it's in how much you love the person that left it to you, how much you want to preserve their legacy. because the second episode tonight is an architect who did everything he could not to follow in his father's footsteps. boom, he lands right where his father was. he's living in his father's house which was world renowned, and he also wants people to know about what his father created for all of us. liz: well, these are amazing stories at any time of the year, but at this time it certainly sends home a message. jamie, thank you so much. strange inheritance, season two. back with two brand new episodes airing tonight. please, do not miss it. there's history, education, finance -- >> and love. liz: and love. the thank you so much, jamie. the closing bell, 32 minutes away. here at home, hard to complain about $2 a gallon gasoline, but
what's the true cost? the man who negotiated with the middle east for years is next. what saudi arabia is going to do, and will it be isis -- not low prices -- that push it is saudis to get involved? and he may be the golden gop boy of congress, but will that help him in the polls? what's helping marco rubio over the weekend could possibly hurt him in the long run? some think so, some don't. stay tune ld. tuned.
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thread situation with the dow jones industrials down 47 points. we were just touching session lows i believe. right now it is touch-and-go for the moment. anything could happen in these next 2minutes. -- 27 minutes. please stay with me. it's a situation we're watching very carefully. let's talk about politics. we're talking about the run for president. before the long weekend, we had a very crowded gop field. nothing changed over the long weekend. everyone that was running before is still running today. no dropouts but there is a win came over the weekend and it is for senator marco rubio. what did he score? republican congressman darrell issa's endorsement. issa is the 10th congressional member to throw support behind the florida senator. even more endorsements are set to roll out this december. current front-runners, donald trump, ben carson, ted cruz based their campaigns against the establishment, is this issa nod a ticket to the white house
or ticket out of the race? richard goodstein, democratic strategist and ileana johnson. "national review." ridiculous to say ticket out or invitation to leave but the ones getting traction at the moment are outsiders, are they not? >> absolutely. you see a lot of outsiders riding high in the polls right now but i still don't think we know what will happen as we get closer to february 1st when voters start casting their ballots. it is always tremendously helpful to have friends and congressman darrell issa, for senator marco rubio and congresswoman mia love, young lawmakers go back to the districts to rally their supporters and fund-raising networks, that really never hurts and can only help somebody like marco rubio as we head into the iowa caucuses and new hampshire primary. david: rich, jeb is no slouch. he has 26 endorsements from representatives, senator, former senators.
from tom ridge to susan collins but why is he not getting traction that marco rubio is at least from the polls? >> exactly. we we get carried away marco rubio's endorsements, look what good they have done for jeb bush? not much. for ted cruz, will say that is badge of dishonor to be endorsed by washington politicians. that is what we're tapping into. republican base voters that washington-based politicians are corrupt. they are not doing what they promise and not true conservatives which ted cruz will say he is their standard-bearer. as ileana said, this is mixed blessing. they are great campaigners. tell gates to the convention. they raise money and good surrogates and spokespeople in this environment, we all can see is pretty weird whether that will be good or bad. we won't know for several weeks still to come.
liz:most, not all but mostp gop candidates have been disinclined or acknowledge or disregards the "black lives matter" team. we have video in last hour 1/2, we have coffins moving through downtown chicago. we do know that donald trump's campaign today tried to backtrack a little bit after abruptly canceling a press conference with african-american evangelical leaders, calling them that a misunderstanding. does that give him, the matter he is speaking with them that they have a gripe? >> i think that is a real stretch. look, this meeting is taking place behind closed doors. trump was billing it as a endorsement. david: which it is not, we -- liz: which it is not we should be clear. he had to backtrack on that. >> yes. donald trump is on the defensive, not only on this matter of the black pastors but on his comments on building a database of american muslims and on other matters.
that is a real shift in the dynamic of this race. trump is an aggressive guy who likes to be on offense. liz: who gets the black vote and hispanic vote, richard? it is certainly important one. hillary clinton said she is their candidate. warren buffett will be campaigning for her. this is a situation that everybody's watching closely. >> look, i don't think there are a lot of black and hispanic voters frankly in republican primaries. honestly if donald trump gets them after saying mexicans were rapists, blacks committed most murders, muslims are not qualified to be president and disabled, that one reporter, somehow or another in the face of that he is able to get any support from those groups, man, more power to him, he has a power we haven't begun to comprehend. my forecast is that is not going to happen. this is big sham, this meeting. one of these day, even more base comments about blacks will come out, like when he retweeted business about how blacks were
responsible for most murders. donald trump is not exactly their friend. liz: we will be watching each day. because "black lives matter" protest continues on the streets of chicago. they were impeding shoppers. it was a big issue. some arrests in the last hour 1/2. pleasure to have you. >> thanks so much. >> closing bell is ringing in 21 minutes. transports lost feigns in november. evaporated in this hour. so anything can happen. it is the birthplace of islam and very important member of opec. should saudi arabia be doing more in the fight against isis? a fox business exclusive with the man who once navigated our relationship with saudi arabia just after 9/11. the former ambassador exclusively with us. it is the last trading day of the month. we're discussing a stock you may want to sink your teeth into. are they banks a buy?
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liz: now this was interesting. earlier today oil was higher. now it's lower by a quarter of a percent. we're standing at $41.60 per barrel. what is it doing ahead of opec's big meeting in just four days? many expect opec to make no changes in its production policy. keep spewing out the stuff. the price will continue to go lower and it is killing financially some of these countries. take a look at national average for gasoline, a fallon of it. regular unleaded gasoline, $2.04 a gallon. that is down 74 cents from one year ago. if you're filling up the tank of your chevy suburban, it will cost you a mere $22.94 now than it would have one year ago. that is great for the consumer.
problematic for middle eastern countries and companies certainly a part of opec. oil has plummeted the past year, raising the question why aren't the saudis getting involved to step the hemorrhage in crude prices? why aren't they putting boots on the ground with isis who is stealing market share with it is huge stake in oil? former prime minister ehud barak said this last week when we said what it will take to defeat isis? >> they can not be won unless defeated on ground in syria and iraq. this should not be led by whenners. it should be led by muslims and others. liz: as in saudi arabia. what is saudi arabia's biggest concern right now? oil, isis, both? what will it drive to move? joining me with his take former u.s. ambassador to saudi arabia and author of, "desert diplomat." ambassador robert jordan.
ambassador, glad to have you. friday opec meets. today isis is advancing. what is more important? what the saudi arabia keep it up at night issue this very second? is it oil or isis? >> actually none of the above. it's iran and i think it is all iran all the time in saudi mentality. between oil and isis i think it's oil. the saudis have to be concerned that their strategy of pumping flat-out 11 million barrels a day or so, is not having the desired effect, at least in terms of running some of the higher cost producers out of the market. americans especially have found ways to drill, to save money, to drill wells in many fewer days and american ingenuity i think in some cases outfoxed the saudi strategy here. liz: you just brought up iran. iran is funding rebels. it's funding weaponry, all kinds of things happening right there in syria. that's quite obvious.
if that is of such concern for saudi arabia, why, when saudi arabia has the third largest military in the middle east behind israel and iran, most powerful i suppose you should say, why aren't they getting involved? isn't their patriarchy, isn't their entire government at risk here? >> there is a risk that i think they understand but it is more a 10 you eighted. they -- at 10 eighted. they flew some air missions along with the emiratis. since that time they completely focused on yemen. they have as much band width in their military as they can handle. until they find a solution in yemen there is a going to be a bridge too far to expect them to do much more with isis in syria. i hope that day comes though. as mr. barak indicated, it is important to have sunni boots on
the ground in iraq and not americans doing that work. liz: why is it our responsibility, the responsibility of the french and russians when truly this is extremely dangerous to even sunnis in saudi arabia? what is your best guess of the first country to move? jordan of course has in the past but they lost a pilot. so they immediately came -- retreated. we had people that have been injured and wounded in all of this but what will it take -- >> we shed our blood and our treasure, you're absolutely right. i think the americans have been trying to get the saudis and emiratis and jordanians, get their act together, to cobble joint military force which can be effective as a force in the middle east this hasn't happened up to this point. the saudis have fairly recently engaged in what is called the cairo declaration with the egyptians. they're talking about building a military joint force to protect
them against threats in the future. this may be talk. we haven't seen action yet. i think it is becoming a matter of urgency for these gulf states perhaps to join with the jordanians and equip shuns putting -- egyptians, putting something together. we can provide some armaments and hardware and advice. but they have to be the ones to put more skin in the game than they have until now. liz: ambassador robert jordan. please join us again. >> thank you. >> we have breaking news. protesters led by the naacp have been arrested, half a dozen. they marched around chicago and city hall just about an hour 1/2 ago carrying that coffin, calling for the justice in the laquan mcdonald case. the marchers chanted 11 shots, stop the cover-up. that refers to the number of times mcdonald was shot by a chicago police officer. there were reports of arrests of
protesters. jeff flock, i said half a dozen. is that what you were hearing. looks like the streets are pretty quiet. reporter: i counted six. they are. the protest is over. i counted six, including national president of the naacp, cornell brooks. they attempted to stop traffic outside of city hall on lasalle street. that is when police took custody. police with as many cameras as the media documenting arrests. there was no question about them. in addition to other rapid fire developments, the university of chicago was shut down because of a post on social media threatening to kill 16 white male students and staff at university of chicago. apparently came from a university of i will snow student posting -- illinois student posted on social media. he was armed with m-4 carbine and two desert eagle guns. they would be fully loaded. not only would he kill the 16
but kill as many as white police officers he could as well as himself. the student taken into custody. the student or the university of chicago shut down today. lastly, bond now being posted by the officer in question, jason van dyke, who killed laquan mcdonald, the 16 shots that you mentioned. the bond set at $1.5 million. he only needs to post 10%. that is 150,000. the fop, the fraternal order of police was raising money although mr. van dyke's attorney said he couldn't say specifically where the money came from but apparently he will bond out, be out on the street today. i don't know what impact that is going to have. i tell you it is crazy times here in chicago, liz. liz: not to mention impeding basic services and shopping, all the things that go on here. there is some obviously, some very raw nerves. jeff, thank you very much.
jeff flock. reporter: yes. liz: we're looking at session lows right around session lows. dow jones industrials down 63 points. we're going to be right back. we'll take you to the trading floor. stay tuned. 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.
liz: we have breaking news out of albany, new york. u.s. a jury reach ad verdict in bribery and corruption case against new yorker sheldon silverman. this involves all kinds of corruption we hope we don't see at highest levels of local government. apparently we'll know soon enough if it was indeed seen by the jury. it has been a terrible jury situation where one juror asked to be removed at the last second. if mr. silver would be acquitted he could return for albany for 2016 legislative session in january. few of his fellow democrats believe he can retake the position. we'll let you know if the verdict comes in.
time to get your fangs out. by that i mean fangs, facebook, amazon, netflix and google. these names have been on such a hot streak this year. analysts at jeffrey suggesting their run could be over. is now the time to ditch these names and buy what? let's bring in larry shover at cme. these are all great names. why get rid of them because there is a point on the calendar? >> i look at parallel, look at buying a condo in 2006. look at buying gold in 2011. it seemed like a really good idea back then for a lot of reasons but now we laugh about it. i know the stories behind these stocks are compelling. think of facebook, some of their long-term prospects could be bigger than the company itself today. there is no meaningful competition to amazon prime. netflix biggest acquisition stage is still ahead of it. and google's metrics continue to climb. yeah, why dump them. because there is positive risk
premium in these stocks. let's forget about p-e ratios. say everybody has been chasing. they have been a safe haven as it were. almost a oxymoron. not as if the companies are bad, doing bad things. there is so much positive risk premium in those stocks it is time to diversify. liz: you want to buy low, sell high. larry, what are you seeing when it comes to these names and flows of trading on the floor of the cme? are big clients moving out of some of these names, holding on to some? i look at amazon. the future looks very bright for this company. >> yeah. the people on the floor are no different than. investor watching television right now. they are accumulating these names. they act as if they're safe havens. that they can do no wrong. when you read the paper the stories of companies are very, very compelling. the issue is about valuation. they have run up too far, too fast. i said it for a long time.
eventually i will be right and somebody will be left holding the bag even though they're good companies. liz: when talking about the fangs is there a letter in fangs missing? is there a name that should be there as we look forward? facebook has done incredibly well. twitter has stumbled. maybe twitter's time to come soon as social media name? >> when i look at four stocks we mentioned i think google is the one that stands out. its financial metrics make sense. they're very investor orrery entated with a stock buyback, et cetera. they have long-term business, very diversified that will take some time, however not a traditional company. i do believe that's one around for a very, very long time. liz: i can tell our viewers this. pretty much the major indices minus transports are positive for the month of november, although the settlement numbers could change. larry, great to see you. thanks for joining us. that will do it for "countdown to the closing bell."
david and melissa, a lot of news on this cyber monday. david: indeed there is, liz. leaders gathering weeks after the paris a record attacks. meeting for what president obama calls a risk to our national security. not isis. climate change. melissa: hillary clinton's campaign promises topping a trillion dollars. i will give you one guess how that will be paid for? david: us. melissa: yeah. david: people shopping online than in stores, are deals really that good? a reason to keep going to the malls. melissa: hold on to your soda. uncle sam coming for your soft drinks and snacks. the closing bell sounds on wall street. there you go. the closing bell rings. david: not doing quite as bad, hoped it would pull up. seems stuck at 55, 56 level, melissa. melissa: sectors getting hit
hard, utilities, telecom services consumer staples, energy, among others. while market closes there, we'll give you everything you need to know. president obama, more than 100 other world leaders multitasking at the climate summit in paris. the climate change is taking stage at the conference but the president is not alone in pledging to attack global warming as a way to fight terror. peter barnes has details from washington. peter. reporter: melissa, president and his top advisors said climate change is threat to global security because of possible instability it could cause. he hinted at that position again today, calling decision for 150 world leaders to meet in paris two weeks after the attacks there, an act of defiance against terrorists, a stance republicans again criticized. >> nothing will deter us from building the futurewer want for