tv Countdown to the Closing Bell With Liz Claman FOX Business January 14, 2016 3:00pm-4:01pm EST
liz: folks, breaking news on this debate night. we have wall street rebounding. this is a completely different feel in the final hour of trade than we've had the past couple of days. we have a triple-digit rally holding but also building. the dow jones industrials jumping 303 points right this second. we were just at session highs as oil stopped its slippery slide south. that's right. oil once again is the leader here. so if oil's up, markets are up. but today's rally is only surpassed by the excitement in charleston, south carolina, where less than three hours from now all that hard work -- yes, they really did move that fast -- is putting together what will be the first three republican presidential candidates to take the stage at 6 p.m. eastern.
final preparations, mics tested, lip gloss applied -- on both the men and the women -- are being made. the fox business crew is hard at work as the candidates make their last minute adjustments and preparations. so you're in the right place. we've got an all-star lineup of experts to tell you exactly what you should be looking for in south carolina and what's happening on the ground. tonight's fox business moderator, maria bartiromo, special report host bret baier, former bush press secretary dana perino and south carolina congressman mark sanford will all join us live. we're going to find out what some of america's most prominent businessmen and women want to hear from the candidates tonight when it comes to the markets and the american economy. legendary oilman boone pickens and steeple chairman and ceo ron krzyzewski are here on a day when we need to know about oil and the markets. perfect lineup here. we're less than an hour to the closing bell, so let's start the
countdown. ♪ ♪ liz: well, i do hope you did not cash out of your 401(k) yesterday, at least because we are seeing a pretty significant rally. it by no means covers up the losses that we've seen since the start of the year, but markets are near session highs. we have the dow jones industrials jumping 297 points, we were just up 303, so we're up there. we're up there, and we seem to be climbing and at least holding on. s&p 500 jumping a pretty significant 40 points for a 2% plus gain, and we've got the nasdaq -- look at that gain on the nasdaq. what does this mean? when you're up 116 points, the tech slide has stopped for the moment. what other slide has stopped? well, oil. oil trying to stage a recovery. it's working at least for now. crude oil did settle at $31.20 after trading below $30 earlier this week. $31.20 is where we stand right now. what does that mean? if you own energy names like
exxon, chevron, schlumberger, williams, conocophillips rebounding. remember, williams and southern were getting killed yesterday. they are jumping right now. williams is better by 26%? fascinating to see that the oil services, the drillers, the extrackers -- extractors all doing well today. arguably, the most important thing the candidates are going to focus on while preparing for the debate is not necessarily oil. that'll be part of it, but the art of the spin when it comes to all of the subjects that matter to you. how they plan to defend, divert attacks and stay on their own message. we bring in someone who has perfected the art of the spin, dana perino, co-host of "the five" on fox news and former white house press secretary under george w. bush. it certainly is an art -- [laughter] look, these candidates better answer with alacrity, but at the same time they need to add some torque and spin it back, and do you expect they will spin it to their competitors?
and who is best positioned to do that? >> liz, thanks so much for having me on. i was really honored to get a chance to come down for this debate, and i am so impressed with what fox business has done. liz: thank you. >> the set-up is beautiful, the whole misdemeanor and the whole -- demeanor and the whole energy in the building is one of confidence and excitement because in my opinion, liz, this is actually the beginning of the campaign season. everything up to now has been preseason. tonight is the official kickoff. and so you have a smaller debate stage on both the earlier debate at 6 p.m., only three candidates, and then at the 9 p.m. debate, six candidates. that offers more time for these candidates to do, most important thing they have to do, liz, they have to make the case for their candidacy. it has to be very clear and crisp before they even begin to start answering questions. liz: well, who's ready to skewer the others? you know, when we talk about that so-called art of the spin, it's got to be an opportunity where if christie takes on rubio
or bush takes on kasich, which is highly doubtful at this moment because it looks like trump is the guy people attack, will we start to see that spin go into play, and who is most facile at that? who is the expert on that? >> well, i think there's no doubt that donald trump is just excellent at both talking to the media and on the debate stage. so is senator cruz. senator rubio, also, has had some very good debates. think dr. carson has some of the most to prove tonight, and jeb bush, chris christie and governor kasich, all three governors, i think they have to, again, show their supporters they're worth following. i think the best thing about debates like this is conventional wisdom often goes out the window. these guys are practiced, they know their own policies very well. the key i always think, liz, is that you have to know your own policies very well. you need to know them better than your opponent knows your policies, because one trip-up on that could be the headline in the morning. liz: yeah. and we remember when a moderator from another business network
tripped up on expertise, and we know that our people are very, very ready. dana, before you go we did have ed rollins, the republican strategist -- famed republican strategist -- in this last hour say that ben carson's campaign is all but finished. you know, his finance chairman had had to resign, there were some questions about handling finances. you hearing anything about that on the ground? >> well, and yet, liz, you know, conventional wisdom would tell you that, but last quarter he raised $23 million. that's a significant sum. and a lot of it was from people that he had found on the internet and that like him. and remember, you can do really well all across the nation with high poll numbers, but the only thing that matters at the beginning is can you win iowa or new hampshire. and dr. carson still has some bases of support there. liz: we shall see. dana, so good to see you. we'll see you later. dana perino, "the five" co-host. we are now less than three hours away from that first debate of
2016 with iowa just 18 days away. that means it will be one of the lasting impressions voters will have before they make their vote. we're joined now by somebody who has firsthand experience with all of these dynamics. bret baier, i need to tell you the markets just hit a session high. the dow is up 321 points. up until yesterday we had very ugly market days, economic and pocketbook issues matter, but what kind of fireworks do we expect, and who will jump forth with that issue and all the others? what are you looking for here? >> good afternoon, liz. was that just by the mention of my name, the markets jumping? liz: yeah. i tweeted it. it said hashtag bret's awesome. [laughter] >> listen, the economy will drive the day, and i'm sure trish and sandra and maria and neil will spend a lot of time on the big issues that really when you talk to people on the ground, that's what they say. they still say the economy drives it even though national security and terrorism is also really important according to the polls.
i think there will be fireworks. i think dana's right that the donald trump/ted cruz dynamic is going to be really interesting to watch. but then you have this other lane. you have the bush/rubio/christie lane that is really fighting for second place in some of these places like iowa and new hampshire to be able to fight another day down the road in the primaries. liz: do candidates focus on what attracts these early states versus what may attract the later states? we had kept saying back in november, look, a lot changes by february. bret, february's a couple weeks away, and nothing's changed. donald trump is still the front runner, hillary clinton appears to be the front runner, although bernie sanders is a pretty interesting character at the moment. >> oh, yeah. on the democratic side there's a real race now, and the clinton campaign is clearly concerned about that. bernie sanders is surging in iowa, new hampshire, even nationally, and there is a lot of back and forth. the momentum is on the sanders side. it's just like the trump
campaign is still seeing all of these people show up, all of these events around the country, thousands and thousands. and the big question is, what does it translate to in people going to the firehouses in the middle of winter and standing up in the iowa caucuses? i think this is the crunch time. dana's right. and tonight will be a pivotal part of that. liz: hashtag, you're awesome, bret baier. thank you very much. [laughter] great to see you. >> see you, liz. liz: we're still up 315 points for the dow jones industrials. bret baier is on every night, 6 p.m. on fox news. all the action from south carolina will get underway at 5 p.m. eastern, so we need to tell you, lou dobbs tonight is there. he will be at five and seven, in between the first and second debate. the second debate begins at 9 p.m., that's when neil and maria will just go for it with all of these candidates. 11 p.m., the postdebate spin, cavuto coast to coast. you absolutely cannot miss that.
you also can't miss the fact that we are two hours and about 51 minutes away from that debate, but 51 minutes away from the closing bell. as we keep all of these numbers up on your screen, it's a great day. the nasdaq, i would argue, is the star at the moment, up 121 points. a senate rally. we're -- significant rally. we're headed to the floor show next with our traders everywhere. they're going to tell you what's driving it. and much more from charleston, south carolina. "countdown to the closing bell" is coming right back on a day where gold is down $10, but north charleston coliseum is shining brightly. ♪ ♪ you both have a
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switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance. liz: with the closing bell 46 minutes away, i need you to look at the s&p, because that level of 1932, we're straddling it right now at 1932.44, is technically significant. if we get above that, look out above. it is a strong rally session right now. the dow is up 307 points, could be a bounce. let's find out. we've got the latest investor sentiment survey that showed bullish sentiment was the lowest in nearly 11 years. so why are we seeing what we see today? this tends to actually be a good contrarian indicator that stocks were oversold. everybody was bearish and scared and hiding and totally nervous.
but the experts say time to get in at least at the moment. let's find out what's happening on the trading floors is and with our -- floors and with our smartest financial minds. alan nutman, mike holland and charlie gasparino. tell me what the flows are telling you about the reason we are seeing such a decent rally right now, alan. >> well, wednesday's wipeout may be the flush that the market needed to have this healthy bounce here. it's time to get serious. this is the beginning of earnings season. the banks have officially kicked things off. when the market's in down time with no earnings, in the last four quarters down about 2.75%, when the earnings are going, we'ven up about 2.75%. we saw jpmorgan come up with a profit of $5.43 billion to remind us they're making money regardless what charlie's going to say abdomen dodd-frank -- about dodd-frank. [laughter] liz: they always find a way, charlie.
morgan's up a percent, wells fargo's up, everybody's up. >> i'm not going to talk about he expects an economic slowdown. this is jamie dimon who, by the way, what your previous guest didn't tell you is the smoke and mirrors jpmorgan used to get those earnings. they cut stuff. they were not growing their business. whether this is a puke, a flush, whatever you want to call it or whether this portends some secular downturn we're going to get for a while. [laughter] i happen to believe based on a lot of factors, seven-year economic cycles, corporate -- stocks look overpriced at a lot of these levels, this is much more of a correction and maybe even a bear market going forward. liz: you know, boone pickens is on in about 20 minutes, mike holland, and we will ask him is this over at least for the near term on the oil patch, but you tend to be an optimist, and you're still in stocks.
why? >> because some of the stocks that i own are really compelling values. there's no question that we've had the puke and flush that charlie just talked about. liz: god, i hope your wife's not watching. >> and i'm going to stay out of the quest bathroom, i've got to tell you. [laughter] the values out there, the conservative tend yields, google. you take a look, google's a fast growing company selling at a very reasonable multiple. it's about to ore place apple as the largest -- to replace apple as the largest company. why wouldn't you look at that if you are worried about things going south? liz: alan, commodities are so unbelievably cheap, i can't believe we haven't seen the bargain hunters start buying there. >> that's what's amazing to me, we haven't seen any bounce to judge this short covering action. one thing i do want to point out here is with this earnings season kicking off again, it's important that we've seen this movie before. october 2014, 10% selloff. august 2015, 10% selloff.
10% selloff here. let's see where we are in two weeks once earnings season starts to kick in to tell us where we're really going. >> i don't tell people what to do with their -- >> it's different this time, right? >> okay, we're the largest midget in the room. laugh u.s. at 2% growth -- liz: oh, my god, the phones are ringing. >> listen, you have slowdown in china which will lead to a global slowdown. all you have to do is read the papers -- [inaudible conversations] liz: it doesn't mean you don't want to buy a quality company that -- >> liz, why would you want to buy a commodity when china is slowing? long term with -- liz: because i'm a chocoholic, that's why. [laughter] >> i just tell you, when wall street is telling you to buy, when they're add e slow
candidating you buy -- advocating you buy -- liz: okay, mike gets the last word. you're not exactly wall street. >> charlie, you and i both know most of our friends in the business are nervous and scared right now. >> absolutely. >> they're not optimist in. i've been in china twice, once in hong kong, once in beijing talking to companies we invest in. real world, the companies are actually doing -- it's slow, but it's been slow for two years now, so there's no new news there. the u.s. is growing more slowly, but there's some growth. liz: okay. >> meanwhile, the stocks have been hammered. >> mike holland, alan nutman, charlie gasparino, it's great to see all of you. it's a lovely royal flush. we'll end on that. [laughter] up next, from guns to national security to illegal immigration, we are talking issues in tonight's debate in south carolina. in just minutes two former top governors here to tell us what the candidates need to do to make sure they're on the right
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liz: so there are these new lists, and they're constantly changing, but here's the latest one: national security is at the top of the list of the most important issues influencing at least republican voters right now. it is sure to be a major component of tonight's republican debate right here on fox business. former republican governor from virginia george allen joining us along with former democratic governor from california, gray davis. you guys both have your own ideas about what issues should dominate tonight's debate, and these issues change depending on the news flow. not a surprise that these dramatic terrorist attacks are affecting people's opinions, but you're a seasoned golf who's going -- governor who's going to tell us what you will be
listening for. governor allen, to you fist. up until today, governor allen has not announced who he is supporting, so go ahead, here's the time to make that announcement. which candidate are you picking to back, governor allen? >> well, first of all, national security is important. but we can't have a strong, agile and technologically advanced national defense without a strong economy, and i've been listening to people who are looking for candidates with coherent ideas and solutions to be for rather than against. and i've listened for productive energy policies as well as reigning in the regulators is marco rubio. my wife susan and i are proud and enthusiastic in supporting marco rubio who i think is the
next generation conservative leader that really can get people inspired by his campaign. he can handle double coverage, and he keeps his cool and his poise, and he's grounded on those principles of liberty and opportunity for all. liz: governor davis, you have already said you will support hillary. you've been a longtime supporter, and i look at how rubio is getting some traction here, but when you look at all of the candidates tonight, what must you think of the divisiveness that you see at the gop level between trump arguing with cruz and jeb attacking rubio? it's been a very, very tough time for the traditional gop groups. >> well, i tell all my friends vote for hillary and pray for trump. [laughter] donald trump has really captured this campaign in a way i've not seen in my lifetime. i mean, can you imagine, liz, saying ted cruz is my friend, he's my pal, we say good things about one another, and i'm just
offering this advice to ted for his own good, go into court, ted, and have a judge declare you an american citizen. he is just masterful about dominating the debate. but he's tapped into, and i think people have tapped into economic unease, concerns about whether the american dream is a reality for the middle class, much less people striving to join the middle class. and after all, campaigns are really opportunities for the candidates to kind of channel the hopes and dreams of people. it's not really about whether trump wins or cruz wins or rubio wins, it's really does the middle class have a better chance at success, do the kids have a better chance to be educated. liz: well, governor allen, is it still too easy to gel? are voters soft in their decisiveness? >> well, i think people are looking. this is getting into the regular season as far as our intrasquad scrimmage is concerned. i would hope our candidates on
the republican side would adhere to what my hero, ronald reagan, said and that 3 -- 11th command. , not speak ill of -- liz: so much for that. >> i know, but i think, again, people are yearning to be inspired or for an uplifting messaging for people to be for. and i think that's -- one thing governor davis said, campaigns really ought to be for advocating for idea solutions. and if the people vote for you, the owners of the government vote for you, then you have a mandate and then keep your word to the people when you get in and get people united behind these ideas that create more jobs. make our country more competitive for manufacturing. americans want to be the best, not the worst. liz: well finish. >> and that's what we ought to be trying to bring forth in a campaign. liz: we didn't miss that reference to intramural -- >> intrasquad scrimmage. liz: sorry, i'm hockey fan.
>> i was actually born in new york, liz, but i moved out when i was ten. when i was 12, i went to ram games, we had crazy legs hersh -- [laughter] and they brought the first championship l.a. ever had, the rams. so while i was agnostic as to what team was coming to l.a., i'm thrilled that stan kroenke and the owners agreed it should be the rams. liz: we have to know what governor allen thinks because your dad was the hall of fame coach for the rams. >> yes, he was, george. >> and for the next three years, they're going to be playing in the coliseum. i remember in the late '60s with deacon jones and roman gabriel -- liz: sure. >> in fact, our youngest, my sister named two of her children one roman, the other deacon. [laughter] so it's, it's, it is great that they'll be in the coliseum. hopefully, they'll upgrade the technology there.
the new stadium in inglewood is magnificent, and i guess they'll get the chargers or the raiders in the future. liz: we shall see. >> and it's great for l.a. it'll help get to olympics as well. liz: i thought about naming my kid dokie, but that fast a raider. okay, great to see boast of you. former governors george allen and gray davis, george allen making his announcement he is supporting marco rubio. gray davis, a longtime supporter of hillary, but we appreciate you breaking that news on our air, governor allen, thank you so much. closing bell, we're exactly 30 minutes away. reset, dow up 290. why? maybe because crude is moving higher today. it has stopped its slide below the $30 mark right now, but can it continue to pull itself out from the depths? and where does it go from here? is the oil patch all dried up? texas oil legend boone pickens, first on fox business, is going to make the call. you need to hear it.
and with just over two hours until tonight's fox business network debates, we talk with co-moderator maria bartiromo, we're pulling her in front of the cameras in south carolina. we also have congressman mark sanford for the details on what he hopes to see from tonight's event. countdown coming right back. the nasdaq jumping 103 points. . . . . tucson.
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only people on higher alert right now than candidates who will take stage at tonight's debate are the moderators. we have one of them. maria bartiromo will join neil cavuto at 9:00 p.m. eastern. you look great. the topics i imagine are changing as we speak. we have all kinds of developments in iran. first to the markets, this matters to viewers to voters the pocketbook issues. >> i think so, i think so, liz. when you consider the fact that we had the worst beginning of the year of any year for the stock market i think that is indicative really what's happening in terms of the world today. people are nervous. investors are sort of jittery. voters, viewers, they're not sure what's happening in materials of economy, jobs as well as national security and terrorism worries. so, yeah, i think the market is certainly one of the big stories
that people are talking about right now because it reflect this is underlying worry. look, i'm happy to see this market is trying to find a settle here and rebounds today but you know we've watched loss of $2 trillion worth of market value to date. often times the market tells you something. we'll see. all the people predict we'll see a recession in 2016 that is also part of this story. yes, the jobs numbers have been increasing but all the skeptics are saying participation rate is 30-year low as well as wages not moved in 10 years. a lot of discussion a rich subject people certainly want to know about. liz: we know it matters what is going on the international stage. the breaking news we've gotten in this last hour is that we do have the nuclear expert who is have now removed the core of the iranian-iraq nuclear device. they have poured concrete, according to the state
department, in it, to render it totally useless. so there isn't much you can turn around about iranian sanctions which are supposed to kick in on monday. clearly this is a hot button issue on these candidates. >> this is really important, liz because this was part of the agreement, that the iranians would begin to dismantle that. so pouring concrete in there is apparently step one. now we know this from the state department. we're waiting for information on this. iran has to be looking at next week in terms of beginning of getting tranche money, one tranche of the money, $150 billion we're talking about ultimately goes to iran as part of this nuclear agreement. last week of course the big story with regards to iran they captured 10 of our sailors. that horrible video looking at our sailors with their hands behind their head, being forced to apologize, that, no doubt, created a major upset between
the united states and iran after john kerry has been selling this deal as much as he has. so we'll see what this means in terms of the concrete being poured in there. it sounds like good news. it is coming from the state department. you have to believe this is one thing that the iranians are saying, look we've got to show the u.s. something that we're not constantly be doing taunting of the americans as well as the others who are involved in that iran deal because so far there has been a lot of taunting, liz, and not a lot of agreeing to the points of that deal. liz: we call it sabre-rattling. they pour concrete. i thought it was sugar in the gas tank that worked we'll see. maria, keep cavuto in check, will you? he is a tough one. >> we'll see about that. i don't think anyone can. liz: if anyone can you can. you guys go way back. good luck. >> thank you. liz: don't forget to tune in. our coverage begins at 5:00 p.m. with lou, "lou dobbs tonight."
followed by the first debate at 6:00 p.m. lou recaps the first debate and sets table for neil and maria, 9:00 p.m. eastern. set your dvr, set your tivos. go for it. post-delate analysis on "cavuto: coast to coast." neil and charlie gasparino will be part of that. interestingly i don't know if you know this, plays a huge role like ohio in selection of republican presidential candidate. only once in the last 36 years has the state not picked the event all nominee during the primary. that happened 2012 when newt gingrich won south carolina but mitt romney won the nomination. let's bring somebody integral part of south carolina politics and former governor of south carolina, republican mark sanford. what matters to your constituents tonight? >> the same thing that matters to people across this country
and that is, security you were just getting at. whether that is financial or physical. what happens next with regard to the economy. you can go down the list. folks here at home, in charleston, particularly care about economic issues. what will happen to debt and deficit. that is really an issue not explored in this presidential campaign in any depth. i would like to hear something on that front. what happens with trade? we have a huge port here in charleston. normal swath of issues we'll we will be listening for. liz: i am glad you brought up trade and deficit. that is not something we hear a lot lately. when i say lately, minute by minute topics change for americans depend on the headlines. democracy, as i've been saying this hour, loud and messy but does the bickering noise get so loud the decibels with the gop and trump and rubio, and cruz and jeb bush, does it get so loud it ceases to be a positive
for voters? >> certainly at some point, people say it sounds like a couple school-age children arguing, whatever is going on there i will not pay attention to it but at the heart of what is going on here, saying if you like sausage don't watch it being made, this is messy process certainly. what comes out of debates and eventual nominee, i would make this point to your point which is, has there been a lot of noise around a lot of distraction? yes. away from one of the big issues that really hadn't been talked about, that is the national debt. former chairman of the joint chiefs of staff when asked what's the biggest threat to american security? answered not the chinese or not what will happen next with regard to terrorism but the national debt. it is a huge issue with regard to the sustainability of our republic. really hadn't been talked about. i would love to see it talked about tonight. liz: we've got to go but you as former governor of south carolina watching current
governor nikki haley take some fact for having spoken out about the angriest voices in the party, references donald trump. are you standing by nikki haley? she is getting it from all side. >> i do. i would like to see uplifting as opposed todown lifting in any presidential debate. we'll see what happens next couple days. elbows get sharp as we get closer and closer to election time. liz: thank you. standing by nikki haley. thank you very much, congressman. mark sanford in south carolina. closing bell, we're 17 minutes away. off the highs of the session. don't know if we'll lose all of it. s&p is still up 32 points. dow better by 241. just a few hours before the lights flip on at the broughtest levels and candidates take the stage. we're live in charleston, ahead of the big fox business debate. that is the press room. rebounding oil empire to pushing solar and wind technology as
welk. boone pickens is standing by live, to tell us a, where he thinks the oil patch goes next, and b, what he wants to hear from the candidates to secure america's energy future and sigh, does he really want a panel to decide who gets to run for president in the future? boone's always focused. we're going to hear from him in a second. i've been called a control freak... i like to think of myself as more of a control... enthusiast. mmm, a perfect 177-degrees. and that's why this road warrior rents from national. i can bypass the counter and go straight to my car. and i don't have to talk to any humans, unless i want to. and i don't. and national lets me choose any car in the aisle. control. it's so, what's the word?...
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♪ liz: one thing for sure with crude up 62 cents, oil prices are yanking the stock market's leash every single day this week. as oil plummeted stocks followed. today as oil is up, stocks are jumping. is oil's path lower or higher for 2016? we bring in billionaire republican donor and oil man boone pickens.
boone, clearly we have the dedate tonight. energy will be on the table especially considering oil is plummeting. first you have a controversial idea you would put forth, you feel there are too many candidates who aren't experienced enough and bipartisan panel should screen who gets to run for president? >> oh, there has to abettor way to pick these candidates. and you know, you've got, what three or four senators in there, a couple of governors in there. governors do better. we know than senators do in presidential race. i don't remember any senator other than truman was president. liz: barack obama. >> that is a bad odds deal there. but i would like to see people that are better qualified to lead and, not unlike headhunters looking at who they wanted to run a major company in america. they would get headhunters to find the candidates and board directors would look at them.
that is not the way we elect the president, i understand that but there should be some better way to pick our candidates i think, than the way we do. liz: well, each candidate better understand how the energy market works because oil has really thrown people for a loop. first you thought that we all did think that lower gasoline prices, very low prices, would be great for the consumer but now it seems to be controlling how the stock market works. boone, right now, we're at $31.10 in the after-market for light suite crude. we come out to boone, i want to see him here because we have very, very low gas price. where do you see oil going next six months to a year? >> well, you're going to go up. you're at a point now, oversupply is million, to million 1/2 barrels. and so the market is balancing and you're pretty close to the low. maybe you've made it, maybe you haven't but you're close.
and where we go from here is up and we'll be up at the end of the year. i missed last year, i will be first one to say so. the declines of the wells, producing wells, my decline curve was a little ambitious. liz: would you put a number on it? >> pardon me? liz: would you put a number where it goes? 50? >> at end of the year, i'm gun-shy after last year other than $70 last year. i'm not going to give a number. i'm just going to say it will be substantially higher than $30. liz: you want to tackle nat-gas before we go because natural gas hit year-to-date? granted year is young but year-to-date low today. it is plummeting. you have investments in natural gas as well. >> well, natural gas, you would be a fool if you doesn't know that we have plenty abundant natural gas. what is surprising we don't use more natural gas, for instance
in transportation fuel. and you know, it would replace diesel and it is much cleaner than diesel. not a sales pitch for that. but the country has an abundance of oil and natural gas but more natural gas than oil. so, we're very lucky in this country. we have the cheapest gasoline prices, the cheapest cost of energy in the world in the united states. unheard of. that should make -- liz: i'll tell you what is unheard, boone. you're gun-shy. you never seemed to be a gun-shy to me? the. >> i'm gun-shy from last year. i remember my prediction. i saw how it turned out. it wasn't very good. but our economy, you can rebuild the economy off the cheap energy in this country. but today wood mckenzie came out with a report t cut out
380 billion had been cut out of budgets in the oil industry. 380 billion. that is 68 major projects. that in five years, will be about 2 1/2 or three million barrels a day. what's going to happen to you five years from now, about 2020, 21, you're going to be back up to $100 a barrel for oil is what is going to happen. liz: $100-barrel of oil. won't give time limit. substantially higher at end of the year from where we are now. boone, great to see you here on fox business. thank you so much. boone pickens, bp capital management chairman. we are coming right back. we have the dow holding on to gains of 226 points. we were up more than 300 though. stay tuned.
marco rubio thinks it's unfair to criticize him for missing votes. "but i am going to miss votes, i'm running for president." but he's been missing votes for a
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he's more hardcore. so your sleep goes from good to great to wow! save $1100 on the i8 mattress with purchase of sleepiq technology and flexfit3 adjustable base. ends monday. know better sleep with sleep number. liz: just about two hours away from the first fox business debate for the year. from the c-suite perspective
which candidate might be beneficial for today's economy on a day market jumping 237 point. we bring in stifle chairman and ceo. ron what do you like to look for here. >> how about ugly since the beginning of the year? it's been terrible. liz: exactly. what do you need to see here to see stabilization in the markets. i got people walking past me saying i put my 401(k) in cash? mistake or not? >> today i think it's a mistake. the market is concerned it would with two mack cothings. pushing in the same direction, the belief fed would raise rates in a weak economy. our analysis shows precious little growth in the
fourth quarter and fed's dots are too high. all that said i think we're reaching end of the correction and china appears to be stablizing. the economy will a, either perform as the fed expects, or, we'll be one and done with rates. i think that will stablize this market. look for your viewers out there, thinking about going to cash today i would recommend against that. liz: i think that's good advice. a man so entrenched in the market an money and stocks what has happened since the start of the year? is it china faltering? is it oil dropping? or is it the fact that the since the fed tightened interest rates tierney little bit we've only seen this market on most days go down? >> well you know, look, if i really knew the answers to all those questions i would probably very, very, very well off, okay. what i do know though is that the economy is weak. liz, think about it, would you
raise rates on january 12 which what we saw happen at end of the year, the economy appeared to lose all kinds of momentum. we think gdp growth is half a percent. you wouldn't raise rates into that. now the question will we see three to five rate increases? this economy i don't think so. i think we could be one and done. however if we do see the rate increases then economy will be much stronger and market will just be fine. liz: mark, listen, great to see you, ron, i'm a little worried about you, ron, over your right shoulder is some type of demonic creature about to bite your ear? what is the -- >> that is bull and a bear. in that darn bear is about to bite my ear off. we have to get the bull back in here. liz: ron, happy new year. thank you. that will do it for "countdown to the closing bell."
david, melissa, lots of fun ahead. melissa: absolutely. all right, we're just two short hours away from the fox business debate. it is the first republican faceoff of the year. the heat is on. david: particularly with the timing. we're only less than three weeks until the iowa caucus. tonight's performance could be make-or-break for some of the candidates. [closing bell rings] first let's talk about the markets. looks like dow jones industrial closings up 222 points. melissa: nasdaq biggest winner on percentage basis, 2% there. crude oil trading higher as well. there we go, david. david: let's go straight to ashley webster. he's on the floor of the stocks exchanges. ashley, we say that the nasdaq did better than all indices but didn't make up for yesterday, did it. >> if you want perspective and don't throw cold water on the rally we're still far behind where we begin the year.