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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  January 29, 2016 3:00pm-4:01pm EST

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show. we love hearing from you. you can like my show page at trish intel. and follow me @trishintel. have a grade weekend. liz claman's taking you through the close of trading. liz: hey, it's not over yet. your portfolio the making some of that money back that it lost this week. the dow jones industrial average is on solid ground, up about 298 points. just a second ago, folks, we were at session highs of 317. why? well, we got solid earnings from some companies, four gains in a row for oil and some fairy dust sprinkled on stocks courtesy of the bank of japan which chopped rates this morning. the dow and the s&p riding the rally wave to climb out of notorious territory. no longer is january the worst start to a year in history. now it's just the worst month since august. the only thing crazier than
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these markets this month may be the 2016 presidential race. last night every republican candidate but donald trump gathered in iowa to face the voters for one last debate ahead of monday's iowa caucus. today as soon as the sun rose, it was back on the campaign trail for ted cruz, marco rubio, jeb bush and the rest, again with one major exception. donald trump, nowhere to be found in the hawkeye state. he skedaddled to campaign today in new hampshire. duds team trump think -- does team trump think iowa's a lock? brad blakeman and richard goodstein on the firing squad that ted cruz faced last night. yeah, with we got the radar for you. plus, we've got the video that reveals how that oregon standoff came to an end, the affluenza teen who just had his hearing, and charlie gasparino graces us with his presence. we're less than an hour from the closing bell, come hang out with us. let's start the "countdown."
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♪ ♪ liz: breaking nudes, what you see on the screen is thanks to this. wall street woke up to quite a surprise this morning, and it's still energizing the bulls right now. the bank of japan cut interest rates below zero to boost its economy. remember when our central bank had cut from a quarter to a zero point there? as a result, asian markets soared. the nikkei vaulted 2.8%, the shanghai in china spiked 3.1%, and that enthusiasm spilled overseas to our markets. not even today's disappointing fourth quarter gross domestic product number could bring these markets down. seven-tenths of a percent, that slowdown that a lot of people who have been coming on the show and talking about, mike jackson of autonation just yesterday saying, yeah, we feel it, the economy slowing down, it's shown here. the street was looking for eight-tenths of a percent. by the way, third quarter was two full percentage points, so fourth quarter not looking good.
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but here's what is, to the hot stocks, mcdonald's. the fast food giant hit its third lifetime high sor this year. the only stock in the dow to hit a record high this year, shares moving higher by one and a third percent, $123.98 a share right this second. also joining the lifetime high club, facebook for the second day in a row. the social media power player still getting a long tail, riding high from the blowout earnings from a day or two ago. right now shares seeing another gain of 2%. $111.37. and remember, it was at this exact moment yesterday when, thankfully, you all tuned in to hang out with me when we showed you how amazon was up $46, all bubbly. look at this, we are now down $49, nearly $50 because earnings came out after the bell yesterday. while nobody's denying amazon had a very merry christmas, unfortunately you pesky investors really wanted more, so
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amazon is selling off at the moment, down nearly 3%. 8%. look at these numbers here. we are closing the book on january and tossing it in the donation pile. please. it's the last hour of the last trading day of the month, and what a headache this month has been for those of you who don't like rock and roll volatility. first of all, right now living up to the expectations of volatile days in january with a triple-digit gain for the dow, but look at the screen. of the entire month, 15 trading sessions of triple-digit moves in one direction or another. look at january 20th. remember that day? we fell 249 points. i was in davos freezing my butt off, it wasn't a great moment, but we were all over that story. and, of course, wednesday -- early in the month we were down 252, and then you go back to the first monday of the month, down 276. again, there were some green moves again, and we're looking very strongly ahead. we need to get ready for what's next and what you can expect, so
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let's get right to the floor show. joining us, our traders at the cme group and the nymex. first to the cme, chris robinson, am i guessing this is just central bank candy, that the baby of the markets from japan, below zero rates, and that's why we're seeing such a great day? >> yeah. i mean, it's one day it's china, the next day it's the central banks, the other day it's crude. it's the 3c market, that's what they're calling it. cutting the rates was enough to make people run for the hills. you did not want to be short the dow or bonds. look at the bonds. pull up a chart of the bond futures. five-month highs, four-month highs in the ten-years. everybody is get out of that short -- bet. they don't think the fed is going to be -- liz: yeah, chris, we got a bid on the ten-year yield at 1.93% right now. >> yeah.
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i mean, and that's telling you that the market's factoring in the fed's going to not be doing anything anytime soon. so we'll see. but you see, you see the movement first in the futures markets because the futures are the hedge. and you see a big move up in both the s&p and the dow futures as well as the bonds, and that's really -- liz: wait, wait. and that means that monday looks pretty decent too, ex any horrific, ugly headlines? >> yeah. i mean, i wouldn't -- nobody wants to go home short, that's why they're all buying it here. you're probably going to see the last stragglers getting out of any sort of downside bet. but with the volatility we've seen, we could be right back at it next week. all it takes is one thing, and the market moves. it's like watching 5-year-olds play soccer, they just chase it. liz: we did babies with candy, 5-year-olds with soccer. chris just talked about the 3cs, and c for crude definitely held the leash of these markets. do you suspect that continues heading into february?
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already today we have more news about whether or not we would see russia joining saudi arabia and the opec nations to cut production to get rid of this glut. listen, oil really only jumped is %. >> the fact that that -- 1%. the fact that that's even part of the conversation now is a very positive number here to think about. let's put it this way, this market has technically behaved beautifully the last three sessions. we did really have neutral to probably bearish inventory figures, but the market shrugged it off, held its chart points and is working its way higher. now the fact the overall perception is that there's a bit of a cutback in production, the market is staying healthy. i would have to say this market still has a lot of room on the upside, much more than what the downside is. all the naysayers are against me, but i still think this market hats a decent amount -- has a decent amount on the upside to go. liz: john sylvia, if crude was the driver, we do have earnings here.
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and clearly, facebook has helped this market immensely. microsoft came in with solid numbers that show people are buying the products. apple at 73 million or so iphones that were sold. everybody hated those numbers, apple's moving higher today. what will be the dreier come february and march? -- the driver come february and march? is it still crude? >> it's really that consumer continuing to buy. as you mentioned, liz, picking up on the first conversation, clearly when the bank of japan eased and we saw the gdp numbers with very low inflation associated with them, i agree, i think it does take the fed off the table at least for february and march and possibly all the way to june. so i don't think there's any fed for the next two or three months. but when you look at the gdp numbers that american consumer and the housing sector were the two drivers of the overall economy. and i would say, yes, there were some estimates about a negative gdp number. that's off the table. so, yeah, the economy doing fine. liz: well, you just said we won't see the fed involved in
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the next couple of months. folks, what matters most to that little bug down there, 307 to the upside of the dow, is when the fed telegraphs anything. so first to a trader, chris robinson, do you think the federal reserve moves before june? >> well, the market's telling you no right now, so we'll see what happens. right now i think that, you know, they tightened once, and it didn't -- you know, we had pretty decent-sized, 16% correction, and then you see the rest of the world. all the other central bankers are doing qe, so i think that gives the fed room not to do anything. liz: so that goes back to john sylvia with the s&p seeing a nice gape, same with the nasdaq. do you suspect that we see -- are you seeing two more fed tightennings for the res of the year? >> oh, i would agree, i don't see the fed's going to do anything before june. liz: okay. >> that's probably the first meeting. remember, the first quarter gdp number could be around 2%.
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fed's still not going to feel very comfortable with that. liz: thank you so much for joining us on this friday. chris, jim, john, over at wells fargo, thank you so much. tell the gang we said high. closing bell, we're or about 50 minutes away. dow is gaining 310. the number to watch is about 317, 318, that's the high of the session. 16,379. when you need to shoot a tube full of people across the united states, who are you going to call? the hyperloop team! it is assembling one of those things as we speak. and sometimes it's not what happens during the debate, it's what happens right after the debate that really tells the inside scoop and the story. did you see this? ted cruz, the center of attention at the trumpless gop debate last night, kind of got the cold shoulder afterwards. trying to tap jeb on the shoulder, christie turning away, nobody kind of wanted to hang
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out with ted cruz. will iowa voters do the same? blake burman live in iowa to tell us what cruz, bush, christie, the rest of the candidates are doing the day after including trump and why that really matters. "countdown" is coming right back. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. hundreds of crash simulations.
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liz: we have some breaking news on the controversy surrounding hillary clinton's e-mails from her private server. the state department is apparently now deeming 22 of these e-mails, quote, so top secret that they can't release them. they would be too damaging to national security. the decision to withhold the e-mails pretty much undercuts claims -- at least some of them -- made by the state department and the clinton campaign that none of the content of the e-mails was classified when it hit clinton's personal e-mail server. the press secretary for the clinton campaign, brian fallon, is slamming the move on twitter. he says this is overclassification run amok. we adamantly oppose the complete blocking of the release of these e-mails. so he says release them. state department is saying, absolutely no. and this is coming over our urgent wires, so we just want you to know that, basically, the news is that there are 32 of these things they -- 22 they can't even released because they are so classified.
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we were expecting the release of about 2,000 pages of hillary clinton's e-mails today. that could come any minute. fox news will be watching, we will let you know what's in them, but 22 they can't even put in front of us. to the gop and, no, he did not show up, but the rest of the republican presidential field absolutely did. the final gop debate went on before the iowa caucuses last night as the candidates competed vigorously to try to fill the void with senators ted cruz and marco rubio trading ferocious attacks on immigration and taking fire from other rivals. now that the dust has settled, the candidates are back on the campaign trail all over the state of iowa except for the guy in the middle, donald trump. he's in new hampshire. let's go live to des moines, iowa, where blake burman has the very latest. hi, blake. >> reporter: hi there, liz. yeah, that's right, donald trump is in new hampshire. he will be back here, though, tomorrow, saturday, sunday and monday, seven different campaign events, he will make. but most everybody here, you're
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right, is in iowa following last night's debate for this final push leading up to the caucuses on monday, and they are spread out all over the state. marco rubio is a couple hours in one direction, ted cruz is about two and a half hours north by the minnesota border. he is trying to fulfill a pledge, a promise in which he said he would visit all 99 counties here in the state of iowa. yes, 99 counties in this state. and cruz has said he will go to every single one of them, and right now he is trying to make that last second push. so much so that he is visiting -- has visited, rather, two cities together. the town of ringstead that has a population, according to the last census, of somewhere of about 400 people. then he's going to fenton which has a population somewhere, they believe, in about the 200s. every last vote here potentially could matter for cruz. could matter for rubio, could matter for trump. that is why they are all spread out. interestingly enough, liz, that 99-county strategy, that's
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exactly what rick santorum did in 2012, visiting every single county. and as you'll remember, he won the 2012 caucuses. as it ended up turning out, by 34 votes when it was all counted and when it was all said and done. cruz, though, he is -- or he did, rather, wake up to one kind of interesting piece of news today, something he probably would have rather not seen. the des moines register here in the heart of iowa had this above the fold on the front page today after the debate. their headline was "rough night for cruz." i would point out, though, that "the des moines register" has also endorsed marco rubio. so cruz having to fight back on that today. but all the candidates are here for the most part, and we expect them to be here for the next several days. liz? liz: blake, thank you. you know, we showed a piece of video going into you that showed ted cruz on stage after the debate, and it appeared -- now, listen, who knows? people walk away from me all the time. [laughter] but it appears people were just walking away from ted cruz. and so we're going to be talking
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about that. we even super slow-mo'd the video. it is not a surprise to anybody that ted cruz -- and here you see chris christie do the, oh, man, i don't want to talk to that guy. and then you see everybody pretty much walking away from him. it's not a surprise that ted cruz is not the most popular person in the senate, but when you're the front runner, people aren't going to want to get up and start talking to you. i don't know, unless you're huckabee or santorum who showed up to the real front runner, donald trump's, event last night. but we're watching all of this and, in fact, in just a few minutes the countdown to the iowa caucuses for people on the ground and how they are dealing with the candidates and how they perceive them. brad blakeman and richard goodstein, our political panel, gearing up in just about 19 minutes. we have this breaking news, and this is very bad news for the daily fantasy sports sites. it's one thing to have court battles. now the payment processer that
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processes all of your money if you love to gamble on these things or now that they say it is gambling, now reporting it will stop working with daily fantasy sports climates. this according to the new york times. this is a major blow to these sites because if you can't have the payments processed from people who want to play in certain states that haven't been banned, you've got a big problem. vantiv is saying we don't want no trouble from the daily fantasy court battle. so at the moment, no payment processing through vantiv. closing bell, we're 40 minutes away. the dow is up 311 points, session high we want to hit is about 317. if you look at those numbers, while you're looking, look at consol energy, rallying 16 and three-quarters percent after reporting earnings this morning saying it's closing another coal mind as it shifts to natural gas.
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closing coal for consol is a huge deal, but it's also great for the numbers. they've figured out a way to manage that make that positive and monetize it. up next, we're going to take you to oregon for the latest on the standoff as the fbi releases footage of the deadly shootout that ended with one of the leaders dead. claudia cowan of fox news on the ground there. more "countdown" straight ahead, she'll give us a live report.
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liz: breaking news, i can tell you this with about 35 minutes to go, every major index except for the nasdaq is positive for the week right now. so we're watching these numbers carefully, but this is good news for the bulls, good news if you're long on your portfolio. dow is up 319, we are now through the high of the session, up 319 points. breaking news in the ongoing saga of that oregon militia's battle with the government over land rights. you're looking at what the fbi has released, new aerial video showing lavoy finicum. he was feeling into his
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waistband, they thought he was pulling a gun, and what do you think happened? law enforcement officials shot him. they felt threatened. state troopers killed him. fox news' to claudia cowan is standing by in burns, oregon, with, i guess, claudia, how it went down. >> reporter: well, good afternoon, liz. you know, the fbi says it's trying to be transparent, but releasing this video is also clearly a pr move. look, the locals in this area say they have had it with all the roadblocks. many say they don't appreciate how long officials have allowed this occupation at the wildlife refuge to continue, and after tuesday's deadly confrontation, rumors were flying that oregon state police had basically committed a cold-blooded murder. so the fbi, in a very rare step, released this video, even posted it onto their youtube site so that people could see for themself what happened. 55-year-old lavoy finicum, one of the group's more fervent spokesman, east trying to get away -- either trying to get
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away from police or provoking them. but when he appears to reach for a weapon, officials say a state trooper justifiably fired back. >> on at least two occasions, finicum reaches his right hand on the left, inside portion of his jacket. he did have a loaded .9 mm semiautomatic handgun in that pocket. >> reporter: finicum, seen here a couple of weeks ago, vowed he would die before going to jail. several others in his car were taken into custody without incident. meantime, four holdouts say they will surrender peacefully but only if no one gets arrested. they are also posting videos showing a husband and wife dancing around cars and supplies. they clearly have enough bandwidth and power to charge their electronics. according to a criminal complaint unsealed earlier this week, the group also, quote, had explosives, night vision goggles and weapons that if they didn't get the fight they wanted out there, they would bring the
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fight to town. the group's leader, ammon bundy, has repeatedly told his followers to stand down and go home. he and several others are is set to make a detention hearing in portland a bit later this afternoon. so far seven people have been arrested all on conspiracy charges, but already a federal judge has said no one is going to be released so long as this occupation here in burns continues. liz: this is serious. >> reporter: back to you. liz: this is very, very serious. you think about all the weaponry you just revealed they had, claudia, danger. real danger. claudia, thank you so much. >> reporter: indeed. liz: we just hit session highs, up 333 points. big day on the markets, folks, on this last day of trading for january. you know how when it snows you just want to stay inside and eat cozy, comfort food? well w the closing bell ringing 31 minutes away, with iowans choose cozy over caucusing? it may be off the coast of california right now, but it has
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the hawkeye state directly in its sights. could it literally change the course of the 2016 elections? our political panel gearing up to tell whether winter weather could ultimately decide if bernie sanders or donald trump win the iowa caucuses. how would that work? we'll tell you. more "countdown" on the way. dow is up 332 on a friday. ♪ ♪ ♪ i don't want to live with the uncertainties of hep c. or wonder whether i should seek treatment. i am ready.
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up about 200. well, dragging down here consumer discretionary stocks making this sector the only one in the red. at least for a time. it may be about even right now on the s&p. so xerox another zero here pushing higher after it announced plans to split itself into two companies. one will contain its office machines, the other is services operation. we'll get you back to countdown to the closing bell right after this short break. stay with us lost shipments, international regulations, security breaches, lost revenue lost respect. well crafted solutions for today's problems in commerce. pitney bowes, the craftsmen of commerce. iall across the state belthe economy is growing,day.
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liz: okay. highs of the session 336 points. we're just three points below that. big rally, in fact, we've added about 35 points since just the top of the hour. if you look at the pictures for both the dow and the s&p, the s&p is up 39 points. you can see we've seen that spike where the little teeny green arrow is to the far right. that's been a very nice move, pretty much all day. but final spike in this last -- let's call it 21
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minutes or so. 25 minutes. we have had breaking news that i need to get to you right now. authorities say one of those three california jail escapees in custody has just flagged down a passerby and said he wanted to turn himself in. he's in custody. the oc sheriff, orange county sheriff. sandra hutchins said that 43-year-old bac duong was arrested friday, that's today, by police in santa ana. the same city where the trio made their elaborate escape from the county jail using -- who knows what. barbed wire and rope. but these people are violent criminals. one of them apparently couldn't take the hunt anymore. so he flagged down a motorist and said he wanted to turn himself in. one out of three in prison right now. bernie sanders making a last-ditch effort to close the gap between he and hillary clinton. they are neck and neck for the state. according to the newest polls. a drop of 20 points for hillary in just a single month. but the weather gods may not
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be in bernie sanders favor. or any of their favors perhaps. snow is focused for monday. the day of the iowa caucus. now, people perceived that bernie sanders would most likely be the one to so-called feel the burn from lower voter turnout. let's bring out strategist, brad is the gop strategist and former deputy assistant to george w bush. good to see you. is this a correct assessment that bernie would be hurt more by a snow storm? >> first of all, i think you should take note of the fact it's good luck for the markets. liz: noted. absolutely. >> i think -- you know, all the indications are there hasn't been the spike in people registering that we saw before '08 and obama bringing all these people into the process. we've not seen that. i think the feeling is that higher turnout, that's what sanders himself said when he was -- after he left the white house the other day said in an interview that's what they're
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banking on and lower turnout -- yes, i think the clinton campaign is having a pretty discipline effort. what they didn't have frankly in 2008. liz: uh-huh. >> they have not made that mistake twice. they're getting their people out. bernie planning on getting people from all over the place, some saying across the border. and i think a snow storm, yeah, in theory would hurt his prospects. liz: brad to hillary we had breaking news a few minutes ago because there's another dump of e-mails on her private server but now according to the associated press 22 of those e-mails cannot even be released because they are so classified. they are so top secret it would endanger the security of the nation. that cannot be good news at all for hillary clinton. >> absolutely. and now it's getting cumulative. we know that there's over 1,000 e-mails that are alleged to have other classified material on it. we know now that there's an e-mail where hillary instructs her staff to take out
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classified headings and send it to her on her private home brewed server. so i think this is very damaging news but the response by the clinton campaign is what's really troubling to me and that is they're demanding this top secret information be released to the public. this is compounding the crime . liz: here's the tweet from brian fallon of the hillary camp and said we natalie oppose the blocking of these e-mails. i think -- this is overclassification gone wild. >> right. liz: but three days before the iowa caucus, richard, does this matter to people who would have -- >> from the fbi are going to be frankly her biggest problem. not the facts. let me give you one illustration to put this in perspective. during the missile crisis, the u.s. had missiles in turkey. 50 years later when there was a freedom of information act request to get documenting, that piece of information common knowledge for decades was redacted as being seen as
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classified. so when the campaign talks about over classification, that's what they're talking about. stuff that -- you know, top secret, oh, my god. you know, the security of the country's at risk. no, if that turkey missile illustration is any indication, there's a kind of bent towards classification that in many quarters and certainly turn the state department is not shared. liz: we'll see. i need to get to donald trump and of course the debate last night he was not there. and he left the state of iowa to go to new hampshire. he will be back for some seven appearances in iowa over the weekend. but how do you think the whole debate went down, brad, for the gop? who surprised you to the upside here, and does it hurt donald trump that he wasn't there? >> yes. i think it hurts donald trump that he wasn't there. i also think it hurts donald trump that he's in new hampshire today. the fact is the way to win iowa is be in the ground. not enough to stay in a holiday inn express for one night with your adversaries had been living on the ground
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for months. in fact, ted cruz is going to 99 counties is telling because he's building that organization you need to win. the other surprise i think was marco rubio. he rose to the occasion. i thought he did well and kasich did well and jeb held his own. that's not enough for jeb. he needed a break out moment. it didn't happen. but if the weather comes in, it's going to be a test of organization if there ever was a test because people have to be more motivated to come out and spend the time. liz: as i said, i would sit all cozy with the meatloaf and pop tarts. meatloaf and pop tarts, that's liz for you; right? it's awesome. richard, one last question. looking at all that happened yesterday, the ratings are out. the debate had far more viewers than the donald trump rally that he had for veterans. does that mean anything? >> no. look, the fact it was really compared to the -- what trump did. honestly i think the surprise out of this was that the other republicans didn't go more after donald trump.
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i mean his quote policy proposals are unward from reality in many cases so they're kind of ripe for going after. and yet it shows how frankly either gutless or unimaginative his other opponents are that they refuse to do that and only go after each other in a way that it didn't serve any of them particularly well. cruz, i don't think it weathered being at the center well and that clip you showed. first of all, that would never happen to liz claman, i don't think that would ever happen to you. anybody who knows ted cruz believes that's the only way he gets dealt with. liz: yeah, some people on wall street go, oh, she's bad news. she's bad news. >> i don't believe it. liz: that was a stunning piece of video and casey pointed it out this morning and he can't infer too much but it was almost he was running after people. >> but everybody says about
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cruz you either don't know him or hate him. and i don't say that as arizona somebody who knows him but his colleagues would seemingly prefer trump over him. it's sad but that seems to be the case. >> let me say this about. liz: do you see quickly. >> he's the liquid that asks for more homework. no one likes that kid. liz: oh, that was me. 340. you guys held the gains and added on to them for the dow jones industrials. >> buy, buy. liz: dow is up 341 points, be sure to keep it right here on fox business for all the developments from iowa on caucus night. monday neil cavuto hosts fox business special coverage of election 2016 beginning at 8:00 p.m. eastern. and if you're exhausted and can't stay up until the end, tivo and dvr it and then guess what? tune in thursday morning fbn a.m. getting up early. lauren simonetti and nicole petallides. yeah, 4:00 a.m., they're starting at 4:00 a.m. to give you all the iowa results. we're coming right back. don't go away.
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liz: whatever you guys are doing, whatever ideas you're sending my way, it's working because the dow is now up 358 points, high of the session. best day of 2016. biggest gain since september 8th. the rest of the market is coming along the big leaders for the dow, visa and microsoft. but, look, some analysts are speculating that we may be headed straight for a recession and are looking at the fed what to blame, charlie? >> yeah. and that the fed not raising rates is one of the reasons why this market's up. we should point out that the fed not raising rates because the economy is slowing down was the reason why on fed day, the market went down. when was fed day? . liz: fed day was wednesday. >> wednesday. okay. i get my days mixed up
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here because i've been traveling a lot. do you remember the market went down 200 something points? because primarily yellen said, well, we may not raise rates and have concerns. i'm paraphrasing. today the weak gdp provision for the fourth quarter comes out, people are assuming the same thing. yeah, we have a weak economy, we're not going to raise rate. liz: well, john sylvia was just on from wells fargo and he said not until june at least. >> yeah. here's what i would really say. what's really going on here. i think there's this correlative trade between oil and stocks right now; right? it's clear. oil goes up, stock market likes higher oil prices because they think it's good for global stocks and, you know, the -- liz: there are 40 oil companies in the s&p. >> right. liz: console is an energy company. >> and funds won't be selling stocks, you know, to make up for losses for taking on oil. that is the trade right now. but that trade will change at some point. it has to when it becomes clear that the u.s. economy is
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still -- it's maybe not reflective of -- what do we have? yeah, it may not be reflective at that. it may be reflected a little bit higher or lower. who knows. no one knows what's going on here. but when we start focusing on the economy, that's where i think the stock market is going to have a problem whether janet yellen raises the rates or not. liz: the stock market had a problem. look at january in the triple digit moves either up or down and you go to the first week, the first trading session, monday the 4th, down 276 and then friday the 15th, down 400 points. >> and it becomes clear that the economy's not doing better, oil prices are going to go down again. i mean that's going to be an indication to sell oil contracts. so i -- this is a really scary market if you're out there. i know it's a good day, but i don't think this day is indicative of the underlying pressures on the market. liz: on top of it, the dollar went up 11% in the month of january alone.
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and that's great if you're going traveling. >> what's it at today? . liz: i believe it's slightly higher. >> slightly higher, oil down, that's a trade to buy the market. yeah, slightly higher and oil slightly higher. liz: i don't want to rain on this parade right now because that's negative in local news. and i always get accused of being so fearmongering. >> yeah. but we're not fearmongering. we're just telling you there's a trade going on. if oil goes up -- oil goes up, people buy stocks. and there's some other reasons in here. i will say that that trade will unwind at some point and the stock market is going to reflect lower corporate earnings, which is slowing corporate earnings and the fact it looks like we're heading into a economic slow down and maybe a recession. who knows. i'm telling you it's a scary market. if janet yellen is not raising rates in march, that means she's scared; right? liz: or she's thinking too much about the stock market. >> she's scared. liz: charlie, thank you. >> she's scared about the economy. i'm telling you.
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she's scared. liz: this is what i deal with every day. closing bell -- >> scared. liz: nine minutes away. he's channeling steven. we're nine minutes away. the dow is up 363 points 16,432. you guys have to see how this plays out. the market set to close the second straight week of gains. january 1 to forget. we're going to spin it forward and find out what you should do in february. the prize etf that you should be picking right now. countdown coming right back ♪jake reese, "day to feel alive"♪ ♪jake reese, "day to feel alive"♪
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then, a brutal act of teterror 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: okay. with just a few minutes left, we are slightly off the session highs but still up 370 points. even with today's move, though, the dow is still on track for its worst month since august. but what important factors and which important stock plays should you be watching for next week? can the markets turn around in 2016? joining me now tom etf and moody's chief
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economist job. i want to cause this surprise me tf because that's your expertise and we're looking at exactly what we should be putting our money in but maybe yesterday was the day to do it. >> well, it might have been a rebound rally today, liz, but you've got to pick your spots. three spots. number one consumer staples. xlp. it's all about soap, coke, and smokes. this is what americans will buy whether the economy is good or bad. the other thing is financials. banks earnings are great and even though yellen may only hike two times this year, borrowing costs are going up more profitability for banks. and finally, it was nice to see what happened in japan. but japan's out of bullets. if you look at drogy, they have a lot more to go regarding monetary easing, and you need to hedge your bets regarding be currency. so the currency hedge europe
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etf debu is something to consider. liz: well, john did gave us these three names but at least for the consumer staples names is recovering. is it -- because i don't know if you just heard charlie gasparino saying that maybe janet yellen is so scared because she sees something on the horizon that we don't. >> that's true, and "we" to be concerned about the u.s. economy because if you take the consumer out of fourth quarter real gdp, real gdp would have been contracted. we would be looking at a recession. we're not there yet, thank goodness. we've got a big increase by real residential investment that's housing. so it is good news. we've got the return of a ten-year treasury yield under 10% and mortgage yields and perhaps -- liz: but gdp was a mess here. >> yes. liz: the gdp number eight-tenths of a percent or seven tenths of a percent, missed the expectation and we were 2% for the previous
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quarter. >> and we may -- we hope to go back up to about 2% for the first quarter of this year. nothing to crow about. and if -- this brings attention to the fact that the u.s. economy grows slowly. we have a lot of problems overseas. we have a strong dollar. there's going to be a lot of downward pressure on corporate revenues, especially those u.s. companies that have a great deal of global exposure. so i think you're making a mistake if you extrapolate too much good news from today's equity market rally. liz: okay. and right now very close to session highs. up 379 points. i keep crossing out my notes here because we keep going higher and breaching the ceiling here. tom, looking at the stock opportunities, you say pick your points, and i completely agree with you. but when you pick etfs, aren't you getting a bunch -- or maybe a few bad names with some good names netted in and neutral? why not pick a stock?
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>> well, liz, there are $14 trillion in neutral funds, some of the best minds on wall street. but over 80% of them can't beat the market. so if you want to pick stocks, that's great. but keep your important money, your core money in low cost etfs where you're least performing in line with the market. you want to take a portion and go out and take high fliers, that's on managers that maybe have hot hands but very inconsistent overtime. you look at just technology alone, the fang group. two great -- two terrible. who would have picked the best in those four? . liz: facebook of course amazon moving in completely opposite directions right now. facebook looking fabulous, amazon getting crushed on a bad number here. but going into the session at the top of the hour, the dow high was 317, look at it now at 356. it seems acin this final hour people are saying i want to jump in, i want to jump in.
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is that the right way to be? >> only if you're a day trader. i think if you're a long term investor, you have to be very careful. you want to focus on high quality blue chip names. you want to stay away from companies that may have some sort of financial weakness or too much competition, too much overseas exposure. liz: great to see both of you. tom of etf trends and john director and chief economist. as we say goodbye and close the book on this january for countdown to the closing bell, david and melissa, what a month it has been. my goodness. david: only giving us 340 points. i thought we were going over 400. thank you very much, liz. meanwhile only three days until the first voters finally have their say. the candidates making every moment count on the campaign trail in iowa after last night's fiery debate. melissa: and the zika virus is spreading throughout south and central america. dr. manny alvarez will tell us what the risks are here at home and what you need to know
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before you travel. we're going to sort through it. david: dr. manny knows. and more shocking details in the crisis in flint, michigan. new government e-mails showing state officials arranging deliveries of purified water for themselves while telling the public the water was safe to drink. melissa: amazing. but first stocks soaring into the close. the dow up about -- look at that. 382 points to end the week in the green on wall street. here's a look of where we are ending the day. the s&p 500 up 45 points. look at the nasdaq. up 2.4%. david: meanwhile all 30 dow components are -- let's go to lori rothman at the new york stock exchange. a sea of green. >> you said it, dave. great to see you guys. all right. so we've got a second day of a stock market rally. though, it's still going to worst down as the worst month for stocks since just last august. looking a lot worse, though, a couple of days ago as you know.


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