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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  December 15, 2015 3:00pm-4:01pm EST

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what it is going to mean for your wallet? also catch o'reilly, a special edition of the o'reilly factor. i'm joining bill to bring you expert analysis of tonight's debate and the latest for the race for the white house. i'll see you tonight, going to be a late one. in the meantime, heading over to liz. liz: so much news on many levels here, but, of course, the false alarm of epic proportions, the threat of terror disrupting daily life in the city of angels. the target, the kids. more than half a million of them, what is being called a noncredible threat shut down the los angeles unified school district forcing more than 643,000 students to stay home. los angeles school officials deciding early this morning to take no chances. they closed more than 1,000 schools after an e-mail threatened bombs in a backpack. that threat forced the second biggest school district in the nation to cancel all classes. this move comes as the l.a.
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area is reeling with the aftermath of a deadly terror attack in san bernardino, california. former california governor gray davis getting in the chair, joining us exclusively to discuss the threat of terror and today's false alarm and what it means for the future. terror no doubt on the agenda in the presidential debate in las vegas. senator ted cruz prepares to defend himself which weakens the nsa's former data collection program. the host states handicap the action in vegas. the recent terror attacks in paris, san bernardino and elsewhere opening up a reluctant but new market. terrorism insurance. how does it work when the enemy is overseas and hidden among us? insurance industry legend hank greenberg with us exclusively live. and the federal reserve now two hours into the most highly
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anticipated rate decision meeting in more than a decade. are the markets rallying for race? the dow jones industrials jumping 203 points right this hour, climbing as we speak. less than 24 hours from the rate decision and less than an hour to the closing bell so let's start the "countdown." >> wow. we have this breaking news. the bulls are on the run and the markets are jumping more than 200 points for the dow alone in the final hour of trade. the s&p, which is up 27 points is on track for first back to back gains, back to back daily gains in six weeks. with less than 24 hours. watch this clock until the fed releases rate hike decision. the fed funds futures pit traders say the fed will tighten the screws, 79%. earlier up 81%, paring back
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slightly, it looks that the belief will be the fed will tighten rates this time tomorrow. i'm going to be on the floor of the new york stock exchange, just check every single move for you. look who's swept up in the bull run. technicals and financials. the big money center banks like bank of america, citigroup, wells fargo, jpmorgan, they look better, why? because higher rates often mean better margins for banks and insurance companies and also for the brokerage names. we don't want to forget td ameritrade and e-trade, charles schwab, moving higher 3 and 4%. e-trade better than 4.5%, stand to do very well if the fed raises interest rates tomorrow. people park the money at the brokerages, therefore that spread looks much better and the margins look better for the brokerages. oil bounced, bargain-hunters deciding today is the day to scoop up oil which settled the
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$37.45 a barrel, slightly below that in the after-market. that settlement was the highest in a week. mcdonald's, kimberly clark, dr. pepper, snapple and kroger hitting new highs today. and at this moment, two names are halted. we need to tell you this, breaking news, apparently u.s. regulators dissatisfied with the deal plan for baker hughes and halliburton. we're going to continue to follow the story. where you see them right now, this could change, the names are halted at the moment. before they were halted baker hughes up 2.25%. halliburton better than 2%. we'll let you know. l.a. on high alert that the hour. all public schools shut down after a number of school board members received e-mails raising fears of attack. remember, san bernardino is just an hour away from basic los angeles and the school district there.
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new york city officials said they received the same threat but they concluded it was a hoax. new york police commissioner bill bratton, once the l.a. police commissioner said he thought l.a. overreacted, that was a comment that was not welcome across the country. >> the school district safeguards three-quarters of a million lives every day. when they make a decision, they have to take into account the safety of the children of los angeles. i think it's irresponsible to, based on facts that have yet to be determined, to criticize that decision at this point. liz: fox news' adam housley is in los angeles with the very latest. and can you tell that the l.a. officials from mayor garcetti to of course charlie beck were unhappy that people were second-guessing them. i don't really blame them. >> reporter: there's a lot going on here, liz. tell you about the facts of what went down yesterday.
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last night when the e-mails were received, and quickly as i was told by investigators locally and federally, they have to deem them as credible. early on right away, if you get a threat like that especially in light of san bernardino, you have to deem the threat as credible. i was told by federal investigators they started to realize that the threat didn't seem credible as they got into it. very quickly they started to see this was most likely not a credible threat, and by the middle of the night, they officially told the superintendent it was noncredible, that the threat was not there. but the superintendent, in a preponderance of caution decided to close schools anyway. here is the superintendent about that decision. take a listen. >> we are taking all sorts of precautions. our plant managers are walking the campus with law enforcement people. our plant managers and principals with law enforcement are looking at all of our
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schools, both small, large schools. >> reporter: there's more than 900 different facilities looked at. you heard they're talking about the campus managers and plant managers walking the campuses. obviously they're not going to have law enforcement at every location and plant managers are not trained in the idea of counterterror. the issue when you talk to federal authorities and lapd, they suggested that the schools not be canceled. the superintendent obviously went with his own decision on that. behind the superintendent, if you listen to the press conference, they were going with the decision that the decision was solely in the hands of the superintendent of schools. so can you read between the lines a little there, liz, obviously it's a tense situation in southern california. it has been for nearly two weeks, but what frustrated a lot of the federal authorities, they felt this sets a bad precedent. they felt it cleared early enough that the schools could have reopened anyway. liz? liz: i'm sure protocols are put into place now for the future.
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but terror is now literally in our nation's school yards. how, as elected officials, do you discern a real threat that requires action and just a hoax intended to cause unnecessary panic. we're bringing in former governor of california gray davis, governor during the attacks on the world trade center. you dealt with terrorist threats and the severity or lack thereof. what do you say of what happened today? >> i'm not going to second-guess the superintendent. i'll give you an example. i'm governor, and the fbi calls and says we think this is a credible threat against golden gate bridge but don't suggest that you tell anyone, so i'm mulling it over and i get a call from my brother-in-law who works for a major bank in new york that has employees in san francisco, he tells authorities, he decides to
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evacuate the employees. i said i have to make this public. people make up their own minds. god forbid the schools weren't shut down and a bad thing happened, cortines couldn't live with himself, better to err on the side of safety. liz: we have a lot of tuesday morning quarterbacking, as it were, and people say what an inconvenience for the parents. of course it is. wouldn't you rather err on the side of caution? the question is when the new york police chief comes on and says we've got the same threat and allah was spelled with a lower case a, now we have massive disruption in a school district and message to bad people around the world. i've got this power, shut the operations down. terrorism is very much a reality, is it not? >> you know, i tell people that al qaeda believes it's at war
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with the united states. isis believes it's at war with the united states. so we at least have to acknowledge we live in a very dangerous world. we have to go on with our lives but have to realize that there are people, as we speak, plotting to do us harm, and we have to be vigilant and smart. liz: what do you think happens, god forbid the next time there is this situation? do you think there should be protocols in school districts. you as governor, whether it's municipalities or government buildings, surely, everybody needs to have a plan in place for this type of even noncredible threat, correct? >> you're absolutely right, and you hit the nail on the head, because now there has been -- presumably nothing will happen, hope nothing happens, and now it will be kind of a drill they've gone through, they've gone through it once and ought to be a protocol established going forward if there's not already. we need to agree on what the children should be told, what
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the teachers should say. maybe the kids will be understandably distressed and need counseling. there needs to be a whole system in place, if there isn't already because i don't think this is the last terrorist attack on schools that america will face. liz: governor gray davis, thank you so much for joining us, we appreciate it. >> my pleasure. liz: we have about 49 minutes to go before the market closes. here's a question that relates to what we've been talking about. how would you go about insuring against losses from terrorism or even the threat? the l.a. school district saw a threat and took action. victims in san bernardino did not have that luxury. but the threat of terrorism is opening up a frightening new market. terror insurance. one of the biggest names in the global insurance industry says post-paris attacks, the rush is on. hank greenberg, chairman and
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ceo of starr and former chair of the largest insurance company aig is standing by. he will join us exclusively next on "countdown."
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. liz: i told you i'd let you know if baker hughes and halliburton have been resumed from the halt. they have. halliburton up 1%. the news is that the justice department not quite ready to approve this merger, but not quite ready to block it either. they have extended the timeline for talks until april 30th for the moment. the merger possibly alive for baker hughes and halliburton. exactly one month ago tomorrow, the world watched in horror as businesses around paris came under attack. from restaurants to cafes to a soccer stadium and a concert arena. islamic state gunman and suicide bombers stormed in and murdered 130 people. you cannot put a price tag on human life but companies are trying to insure against terror attacks as best they can. here in a fox business exclusive, hank greenberg,
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chairman and ceo of cv starr and former chairman and ceo of aig. we saw an entire school district in los angeles paralyzed. clearly, this is loss of business, loss of confidence and companies, municipalities looking to insure themselves. what increase are you seeing? >> they're beginning to recognize that you have to do something but terrorism insurance has been around for a long time. it's not brand new, but there's a new surge that's taking place, and you have to spread the risk one company can't underwrite all of it, obviously, so it's being spread among many, many companies. liz: you said the surge, did it come right after paris? >> after paris, there was a great deal of concern, how do you react? what's the next step? what attacks are going to take place in what countries? that's still going on. but you have to accept we're at
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war. we are at war. liz: you're saying we are at war. >> in a terrorist war, no question about it. they said so, too. isis has said they're at war with us. liz: well, let's talk about how you insure against terror, hank? how do you do that? >> well, you have to have people who are sensitive to when an attack may come, and by whom people are experts in that area, and we have some. it's not the first time we've written terrorist insurance. liz: of course not. >> written it many, many times. >> who is inquiring? governments, municipalities? businesses? >> businesses principally. and obviously, regulators watching this to make sure if you underwrite terrorist coverage, are you adhering to all the rules and regulations and go with it.
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liz: you know, in paris, you saw stadiums attacked, concert halls, restaurants, early in january, the "charlie hebdo," the magazine was attacked. on your screen, you looked at scope of the cost. 9/11, 25 billion. world trade center garage explosion 835 million. but this cost is unbelievable. look, tryout, the terrorism risk insurance act, a lot of businesses including the nba and nfl said we should have this because it has a government back stop. correct? you are sharing the cost with the government? >> the private sector can't do it all. it's impossible. the insurance industry alone can't do this. you have to have a government backup for part of it, and that does exist. liz: in the past, cybersecurity was the hot thing to insure yourself against is. terrorism insurance bigger than cybersecurity? >> no, not yet.
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liz: not yet. >> not for the private sector. not yet. liz: but it's huge. >> yeah. so is cyberinsurance. liz: before we go, i have to ask you about carl icahn, the activist investor. he is agitating at your former company at aig where you are still a very big shareholder. he wants aig split up into three different businesses. are you on his side? do you agree with him on that? >> you know, i've stayed out of the middle of this thing, but aig was much bigger than it is today, okay? and wasn't necessary to split it up. that came about after i left the company. i do not think the best thing in the world would be to break it up even further. liz: okay, good to see you, hank. good luck in the insurance business. you're still kicking hard there. we appreciate it. >> good to be with you. liz: with the closing bell
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ringing in exactly 40 minutes. the dow paring gains, up 177 points. some serious news breaking today in the radio business. listen. >> i am very, very pleased to announce and excited to announce -- >> whatever howard stern is about to say on his show on sirius xm radio has investors excited. forget about the listeners, stock is up today, seeing a significant gain. talk to you about what he announced. and jeff flock live at ford's research facility in dearborn, michigan how ford plans to protect with you something that has the name gorilla in it. watch the windshield. it's a fox business exclusive next on "countdown."
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. liz: howard stern listeners rejoicing as the famed shock jock sign ace five-year deal with sirius xm. how much was it for?
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the satellite radio service doesn't disclose but stern announced listeners will be able to live stream the show on their phone app. >> so i'm very, very excited about it. >> so there's going to be a video component? >> yes, yes, that's the future. don't you see? liz: not podcasts. i don't know, howard hates podcasts. we saw sirius moving and started jumping, up about 2%, still a $4 stock but for those of you waiting for something to happen, it's been $3, $3.50. $4.08. first it was lighter frames and self-driving cars and now ford is rolling out this. new supertough windshields made from corning's gorilla glass hybrid material. crash is resistance, lighter than what you see on most cars. we're not going to see it? we're going to see jeff flock, standing by in dearborn,
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michigan where he's going to put the strength of ford's new windshield to the test. >> reporter: i didn't want to steal the thunder, first on fox, this news about the gt ford supercar which will be the first car, production car to ever have gorilla glass in its windshield. what is gorilla glass? liz, you know very well. doug harshbarger with corning. what windshields are now made of something called soda -- >> soda lime glass, two pieces of regular soda lime heavy thick soda lime glass. >> reporter: his, here on the fox business network, they shot this with a piece of ice, that's an iceball, like a piece of hail. shoot a piece of gorilla glass, we're going to do this live on the air to see what it looks like. they're taking a chance. putting this on live tv. >> not a problem.
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this is exactly the construction in the ford gt. one piece of gorilla glass on the inside. >> an ice canon, right? >> that's right week developed at corning to show how strong our glass can be. >> reporter: that is a piece of hybrid gorilla glass, go ahead, tim, and give it a shot. >> let's go take a look. wipe it off and see if it survived. >> reporter: there you go, liz. and i know you've done your best to have your way with gorilla glass. liz: i have, many a times. >> reporter: windshields, that's a whole new display. liz: they're showing me in the past trying to crush the gorilla glass that was on phones and i never could, even had the stiletto in there. reporter: if it can survive you, it can survive anybody. liz: i'm tough.
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>> reporter: i've heard that. liz: you'll soon see. gorilla glass. jeff, thank you very much. the stronger you can make the windshields, great news. ford is on it. 32 minutes before the closing bell rings. still up 168 points. remember we were higher by more than 300 points. "the force awakens" last night was the "star wars" premiere in hollywood as only hollywood can do. but do you have your tickets for this weekend's opening in your hometown theater? if not, it might cost you even if you have the money, you might not get it. terror may be the major topic in tonight's republican presidential debate as donald trump keeps rising, his strong on terror message is working with voters. former republican governor george allen of virginia and bob miller of nevada joining us for a preview next on "countdown." stay tuned. announcer: a horrific terror attack in paris.
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tv-commercial
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then, a brutal act of terror here at home. it's time for a tested and proven leader who won't try to contain isis. jeb bush has a plan... to destroy them. and keep america safe. jeb bush: the united states should not delay in leading a global coalition to take out isis with overwhelming force. announcer: tested and proven leadership matters. jeb bush. right to rise usa is responsible for the content of this message.
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. liz: we've got 26 minutes before the closing bell rings. have you been watching the markets all day? you've known the market was higher by about 259 points. right now the dow is up 163. what happened? we're going to call this profit taking. a great rally today, with the s&p still holding onto gains of 21 points, that's decent here. at this exact time tomorrow, the federal reserve chair janet yellen will be wrapping up her news conference. what will she say? fox objection begins special coverage at 1:00 p.m. eastern, neil cavuto hosts with the fox business all-stars from maria bartiromo to lou dobbs, charlie gasparino, everybody on the screen and i'll be live on the floor of the new york stock exchange beginning at 1:00 p.m. eastern. who knows how the trades will go you?
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think this market wants a rate hike or fear a rate hike? you never know how the herd will react. that's what i'm here for. instant analysis from the floor and the traders before and after fed chair janet yellen completes her news conference. if you're not in front of a tv, dvr, tivo it. fox business is on it and on your money. now less than three hours from the first two debates hosted on cnn, and donald trump will remain at the center of the attention, sitting smack-dab in the middle as he has for the past four gop debates. it's who's next to him quite the revolving door. the first hosted by fox news had trump next to jeb bush and scott walker. walker is out, the second hosted by cnn dumped walker for dr. ben carson, jeb bush booted in the third debate, moved, rather, hosted by cnbc for senator marco rubio. those three kept steady for the fox business debate. tonight donald trump will be
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faced with his newest opponent and threat, senator ted cruz, seen a surge as of late in the polls. let's bring in two governors who have been parts of debates, former democratic governor of nevada bob miller in las vegas, and former senator george allen. governor, you are right there at the scene. protesters, all kinds of activities behind you. we know what's happening in the nation. terror is the bigger concern of most voters. it was the economy but paris has happened, san bernardino, the l.a. school district threat. big concerns here, who do you think is the one to watch at gop debate, of course, stressing that you are a democrat. >> i think that the debate is going to be around foreign policy rather than the economy because of the issues that we've seen in san bernardino and paris, et cetera. but it's the same as most of the polls would indicate. i think that primarily people
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want to see donald trump, his lead, whether he can sustain it. marco rubio and ted cruz probably the two most significant second rounds at the moment. in nevada, jeb bush and rand paul can't be completely discounted because of the relationships they've had here overtime. i don't see them as formidable candidates at the moment, but people who have a possibility in the nevada caucuses are doing better than people expect. liz: governor allen, people assume that donald trump owns the terror story because he's extremely vocal in throwing out ideas some, may not be tasteful but others embraced. who has a chance to shine tonight beyond donald trump. >> i think donald trump's bombastic statements that resonate with many people, though some get almost universal opposition from the republican candidates. the ones, the candidates who i
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think are conversant on foreign policy issues are marco rubio who is on the foreign relations committee, governor kasich also seems to be very knowledgeable, and in his own way, governor christie is one from his prosecutorial aspects. you are there in las vegas, governor miller. i was there last week at a guest tech conference, it had everyone from the rodeo to the miss universe contest at the same time. foreign policy does affect tourism, affects our economy. and energy policy is a foreign policy as well, that we don't have to be vulnerable to volatile and sometimes hostile regimes around the world who have a productive realistic energy policy, which i hope will be discussed, and i also hope they run the debate the way fox business did that was focused on substantive issues.
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no one goes to a sporting event to watch the referees, they want to see contestants talk about the issues people care about. liz: thank you so much. we were quite aware it's not about us, the candidates. we are the conduits to hear their ideas. governor miller, you are there in las vegas, you see the action, the activity. tourism is huge. we can move beyond the terrorist issue, but gun control is no doubt going to be coming up. and then the economy. those issues that matter to people in nevada matter to everybody in the united states. you -- i don't know if a lot of people know this, governor miller, you were a part-time deputy sheriff in los angeles back in the day. in the late 60s and 70s, where do you stand on gun control for example? where do you think the rest of the nation finds itself that common thread? >> most of my early career was in law enforcement as a deputy also in las vegas and police attorney and so on. i think those are important
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issues. in nevada, there's a group, a petition coming forward on the ballot relative to background checks and whether they should be universally applied to even to nonconventional sales locations. there was a protest here over the weekend, on the one side some mothers recalling the sandy hook situation, and on the other side, some interreactivists parading on the other side of the street with guns. that is an important issue and varies throughout our state. that's why we're such an interesting state. most urban state in america but the rural parts of our state in northeastern nevada in particular where governor allen was once literally a cowboy, they have very strong views about these issues, and it will be interesting to see if the issues come up. i think it's going to be dominated by personalities and if you're trying to go after donald trump, the core issue right now seems to be his statements relating to foreign
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policy, so i suspect a lot of it is focused that way. liz: before we go, we've got about 20 seconds, governor allen. iowa. ted cruz is leading for the moment. does iowa speak for the rest of the nation? >> my parents were married in sioux city, iowa, i don't think it speaks for the rest of the nation and caucuses. new hampshire, south carolina and nevada will be much more important and winnowing out the crowd, and giving momentum into the next race. in nevada, i did bucker up and run amok and they felt right about the right of self-defense and don't take away the guns, nor in south carolina or virginia as well. governor, i have good memories of the national governor's conference back in 1997. i wish you the best, and i always like coming back to nevada. >> thanks george. liz: great to see both of you, democrat, republican, getting along. wish we could see that in the united states. former governors bob miller and
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george allen. reminder, fox business second debate, we did so well on the first one, got the nod for the second one, set dvr's for thursday january 14th. the republican presidential debate on fox business. it's not about us, it's about the candidates and the issues that matter to you. closing bell, we're 18 minutes away. the dow is up 157 points. charlie gasparino coming down right now to tell us why one activist investor is stepping out of the dow chemical-dupont merger after years of persisting and prodding and demanding change. why and who is it? charlie breaks it next on "countdown."
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how about a bagel? what is the most important meal of the day? google voice: breakfast is the most important meal of the day. . liz: they may sleep late in hollywood but everybody is awake right now because "the force awakens" ca camp the new "star wars" film wowed fans last night at the world premiere in los angeles. of course, you have the obligatory stormtroopers, r2-d2, c3-po. "the force awakens" will not be released publicly until friday but the film has shattered presale ticket records. >> did you hear what the msnbc movie said about darth vader. liz: yeah, that the movie is racist because darth vader is black? >> yeah. liz: do we not have more appropriate focuses.
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the film is expected to take in approximately 8 billion in total sales. >> the stormtroopers are white. liz: again, we see the stormtroopers. it will make "the force awakens" the third highest grossing film behind titanic, yes, twenty-first century fox and avatar, yes, twenty-first century fox, as you know, chewbacca, the wookie, we have the same hair color. we asked you who you think the be the breakout star. matthew on facebook said hans solo. chewy is and always will be the best. john on twitter was confused mixing up chewy and gasparino. >> i actually saw that. liz: i thought gasparino didn't shave again. >> i know, i know. liz: you seen the movie? are you in the higher element that can breathe better air that you have seen the movie.
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tweet me@liz claman for all the links and the picture of me getting superclose with chewbacca. dow chemical and dupont have had share of activist investors pushing for mergers, finally did. $130 billion merge or the table. dow's thorn was daniel loeb, demanding that the company sack ceo andrew, but on the other side another activist investor is happy with the merger of equals. >> not just the merger of equals, they're going to break the company up after. this activist investor is nelson peltz. he pushed for a breakup of dupont and demanded board seats under ceo ellen coleman. rejected by shareholders. mostly index funds, average shareholders, the individuals, the hedge funds voted for him but couldn't beat out
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overweighting to index funds so he lost. ironically, ellen coleman is blown out in october as ceo, she retired. people say she was prodded out because of poor performance. john breen comes in. liz: ed. >> i'm sorry, ed breen comes in, does the merger and announces a huge breakup. what we understand is that peltz is not advocating for major changes. he likes current management. he is not asking for board seat as of now, and unlikely he will ask for a board seat according to sources close to mr. peltz. we should point out that a spokesman declined to comment as did dupont spokesman. activists are fickle. they change their minds sometime. the inside word from trion, they like what they see, they are not going to ask for a board seat. i know you are giving me the one minute.
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they're happy they lost that battle because think about what happened. liz: funny how things work out. >> they didn't get the board seat, kullman kept her job, didn't perform, had to leave. breen comes in, does what he wants. very interesting. a guy handed "60 minutes" the lumber liquidators story. lumber liquidator is putting out bad tiling. liz: poison lumber. >> the poisonous laminate, may be infecting people. he came out last night, said the company is not evil, that he covered his short. he believes they made a mistake based on new information. liz: whoa! >> i will tell you. liz: it's up 25% for those of you listening on xm sirius. >> i will tell you this. i asked whitney tilson if he would like to come on. he's going let his calm speak
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for itself. vitriol he displayed to lumber liquidators management in the past was pretty -- based on what he's saying now, seems like he's done a 180. i'm sure he hedged himself in the past comments but said they were like the worst thing since -- they were really bad people and now saying they're not evil. liz: funny how short sellers, like all of us change our minds. >> i would like to get whitney on the air. liz: we know whitney. >> i'm just telling you, there's a big change in rhetoric from then and now and wonder if that opens him up to any issues involving legal issues. his rhetoric was so strong in the past. liz: and now it's not evil. >> they're not evil. liz: we have breaking news we want to get to our viewers right this second. the jury is reportedly deadlocked in the trial of the police officer charged with the death of freddie gray.
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the judge sent the jurors back to continue deliberations. once again, deadlocked. we will continue to update you on this story as it breaks, but obviously a huge story back in april. april 12 in baltimore where the african-american man had asthma and was put in the back of the police van and ended up dead. now the jury is deadlocked any. more details, we'll get them to you. the closing bell seven minutes away, seven minutes and just under 24 hours before the fed makes its decision. how to trade ahead of it. one trade. one specific trade. the "countdown" closer is coming up next. he's going to tell you exactly what he thinks is the best trade between now and the top of the hour tomorrow before janet yellen speaks? and thanks for making fox business the fastest growing cable network in television. we could not have done it without you guys. >> look at that pretty red head off to the right. who is that woman?
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liz: thank you. la-liz. "countdown" is coming right back. a huge thank you to all of you every day. we appreciate you. . . . . hi. i'm matt mccoy.
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today. get this free calculator just for requesting a quote. liz: bulls are clamoring on the run in anticipation of the big fed announcement tomorrow. john train tore, cio wealth management. has five billion under management. guide our people. we have a couple minutes here. what will you be listening to in the news conference specifically with janet yellen? >> key issue to listen for with janet yellen is whether she is bullish or, bullish on the economy. we believe she will be. will she be dovish with regard to policy? we believe she will be. in that environment, you want to own financial stocks. we like financials. that is where you want to be. liz: liz: your trade in advance of that moment they announce whether there is rate tightening, right now the fed funds futures pits are saying 78% chance, what is the one trade ahead of that?
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>> financial stock we like the most is blackrock. we think they're well positions. they have been punished by what is going on high yield market because of their exposure to etfs. we think blackrock is well-positioned, well-managed. you want to own the stock in next 12 months. liz: give a nod jpmorgan chase and are you worried about financials if we don't see a quarter of a percent hike tomorrow? >> no. fed has done a excellent job forecasting it. it is really the press conference. we believe janet yellen will bend over backwards to say the fed will be judicious. they will keep the economy moving n that environment, stocks could do very well. we're very positive next year. liz: key word would be gradual and moderated depending on what the economy is doing. john, thank you so much for joining us. we appreciate it. >> thank you. liz: john treanor, people's you nighted wealth management cio. stay calm.
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they will be fine. buy financials. they stand to do well. we haven't seen back-to-back gains in the s&p 500 in six weeks. we may see it today. that will do it for "countdown to the closing bell" join us tomorrow with the big decision. david, melissa, you will be a part of it. david: absolutely. thank you very much, liz. melissa: "tale of two cities." both receiving similar threats to area schools. the nation's second largest school system in los angeles standing by its decision to close all 900 of its schools. 640,000 students were told to go home and stay home. david: former mayor of l.a. will be here to weigh in on that. meanwhile new york city schools dismissed the threats as a hoax and did nothing. the nypd commissioner saying l.a. overreacted. we will speak with former l.a. mayor richard riordan and tom ruskin, formerly of the nypd. melissa: terrorism expected to be the main topic of tonight's gop debate. who will come out on top?
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panel weighs in. david: dow had been up 260 points at session highs. [closing bell rings] as the bells sound on wall street. only thing in the red, gold down about three dollars ahead of the fed decision. melissa. melissa: we'll have more ahead of the huge fed rate decision announcement in a bit. we want to go back to the stop stories, bomb threat shutting down schools in los angeles. officials defending the decision to close down all public schools despite all growing evidence to suggest it was a hoax. fox business's ashley webster in the newsroom with the latest. reporter: more and more details coming out, melissa. schools remain closed. no word when they may reopen only the l.a. unified school district says the schools will open when they are satisfied they a

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