tv Countdown to the Closing Bell With Liz Claman FOX Business February 10, 2016 3:00pm-4:01pm EST
. trish: that's it from boston. i will see you all back in new york tomorrow. liz, over to you. liz: safe travels to you, breaking news, the signals are very strong that new jersey governor chris christie is on the verge of dropping out of the republican presidential race as early as today. the news comes after christie's poor showing in new hampshire where history was made last night. two outsiders, the first-ever billionaire businessman to win, joined by the first ever democratic socialist jewish guy to win, total domination by both at the polls handily winning the first-in-the-nation primary. donald trump crushing the competition, but second-place finisher, ohio governor john kasich grabbing headlines right and left as the trump
alternative and vermont senator bernie sanders beat the once, quote, inevitable candidate and political machine hillary clinton in a landslide. more than 40 points separated them. sanders grabbing his own page in the history books, all of that was yesterday, today a brand-new chapter written by now. the campaign trail leads us to south carolina and many of the candidates have landed there where the political environment as you all know is totally different from that of new hampshire. hoping to crack the clinton fire wall, sanders making immediate appeal to the state's black voters by meeting with controversial civil rights leader al sharpton, had a little discussion, the gop candidates who trail trump, ted cruz, marco rubio look to gain momentum which has as many delegates as iowa and new hampshire combined, it's a
winner take all format. fox news reporters on the ground in new hampshire along with political panel. on wall street, the markets hanging on every syllable coming out of the fed chair janet yellen, will the fed raise rates? cut rates? or hinted today, even go negative. what did the smart money decipher from message, we have billionaire wilbur ross to tell us where he's putting money now. less than an hour to the closing bell. the dow is confused at this very moment, so let's start the "countdown." did fed chief janet yellen hint today we too could be turning japanese if the markets and the economy really tank? just as japan caved last week and allowed rates to go below zero in an effort to stimulate disastrous economy. today our markets look to nod
zero rates and promise to throw the economy and inflatable pillow as we drown in debt. the dow jones industrials was below the flat line and turning red. up 10 points at the moment. the nasdaq looks extremely healthy, up 52 points, watching the markets for now. all green on the screen. that could change. trouble in the magical world, disney reported earnings after the bell that was yesterday. the company did very well, beat expectations, but it was that revenue from espn and renewed worries about cord cutting, espn has been such a winner year after year, quarter after quarter, disney down nearly 3%. three names we have to have you pay attention to. twitter, cisco and tesla, all reporting after the bell today. two of them down, you could call cisco flat at the moment. twitter has a lot on the line,
predicting a move of 18% in either direction. thanks for the guidance options market. could be rocky after the bell session, stay tuned to melissa and david to that. to politics where the candidates may be forced to shove aside the victory balloons or tears of loss and focus on the economy as south carolina's primary now looms. as republican donald trump and democrat bernie sanders basked in the glow of victory last night. at this hour, mega questions need to be tackled. who will get chris christie supporters if he drops out? he hasn't yet, and how does silver medalist number two place john kasich plan his next move. we have carl cameron live in manchester with both of the answers and i'm quite sure a few more pressing questions. >> reporter: and maybe hedging there, too. for donald trump last night was a big night, winning in new hampshire catapulted candidacy in south carolina.
he'll have a rally in south carolina in clemson, where there is concentration of conservative voters, and trump has even more momentum now and his throw weight and volume should not surprise anybody. his second place showing in iowa and the cruz victory promised he was going to come roaring into new hampshire and take the momentum from the big win last night into south carolina. we then do have to talk about chris christie. there is rampant speculation today filling twitter and social media and a lot of radio and tv that chris christie's candidacy is dead. as of this exact moment it is not. but he announced last night he would be returning to new jersey to assess his candidacy, the beating he took last night is a significant, significant setback to his campaign. south carolina is not known to hospitable for politicians, they are looking for something
more down home, home spun, we talked to his campaign, he said no, he has not made decisions, continue to assess, we'll hear as soon as a decision is made but chris christie is a straight talker who tells it like it is and it would be difficult for him to go forward knowing how badly he did last night. money is a problem, the risk moves into the south where he has a geographical disadvantage, so most people expect there will be an announcement, perhaps not today but perhaps tomorrow. it would be counterproductive for christie to do it, he doesn't want to be at the top of the news dropping out the day after new hampshire whereas there are others who would to be at the top of the news. ohio governor john kasich, coming in second, a huge reprieve for candidacy. he didn't pay attention to iowa at all. bet it all on new hampshire and getting the silver medal last night puts gas in his tank and in south carolina he's already suggesting that he'll have a real shot and he'll go at least until the midwest states.
you mentioned the calendar just a moment ago, when you get to march 15th we get to winner take all states. there are a couple dozen of them are proportionally allocated, kasich could win in ohio, his home state or michigan where he's well known next door would and breathe life into his campaign burke questions about jeb bush, he came in fourth, best showing thus far, then the marco rubio who didn't do well, obviously, the debate really hurt him, and he's down in south carolina already suggesting that he can make a comeback and ted cruz who did come in third is complaining. marco rubio got plotted, huge, huge positive press for showing in iowa and cruz is tick off he's not getting it for showing in new hampshire, liz. liz: i want more attention. carl, we have our eye on chris christie's presidential twitter account, all he has so far is something from 14 hours ago.
we came to say speak your mind matters, thank you to my new hampshire family. that was 17 hours ago. we'll keep an eye on this, who knows if it will move on twitter or not. the second we get word from chris christie, it may not come today, carl, thank you very much for encapsulating the true story of what happens next. as the candidates head to south carolina now, the north will be watching closely, too. let's bring in two governors, former governors from the south and the north, phil bretteson, and dave heineman, former republican governor from nebraska. to you first, governor bretteson does the trump and sanders message does that work as well, the same, completely different in the south? >> i think it's a little different in the south, particularly for sanders. but i think it's interesting to me, a lot of them are drawing from the same voter pool. as a democrat, i watched some
of the trump rallies and there's a lot of people standing there who, you know, democrats would like to claim as their own. this is a very mixed-up year in terms of the appeals that are out there. and democrats ought to be watching, listening to what trump has to say. liz: perhaps everybody should, and again, should also be listening, governor heineman to your side to what bernie sanders says. there seems to be very, very big unhappiness. major, major disappointment in how or whether the system works for the little guys out there. >> well, liz, you're exactly right. you know the average american is upset with the political system. they're angry at the federal government. mad at wall street, and the reason they are is they feel like the system's unfair right now; that it favors wall street or main street, the rich or the middle class and interestingly enough, the two winners, neither one has a super pac. donald trump is funding his own
campaign, bernie is doing with small contributors, and how many times did you see on television last night one of the independents in new hampshire trying to decide between trump and sanders. so their message is very, very similar. liz: what about that, phil? a great point to be made as we go forward. john kasich into the picture. a lot of people from the start who said john kasich will be that alternative choice because he does have experience. he did help balance the budget. he is very much cognizant of what it's like to grow up on sort of the short end of the societal stick, you know? >> let me say, john kasich is exactly the sort of person in a reasonable world would be a formidable candidate for president. obviously he's bet a lot in new hampshire, and you know, congratulations to him for his showing there. it's a long road from there, and the next few states are
ones that are much more difficult, difficult for him. but, you know, he's a good guy, i'm afraid in a republican primary, he's brought the proverbial knife to a gunfight. liz: let me interrupt week have our first dropout in the wake of new hampshire and it is not chris christie, it is carly fiorina. she has officially said that she is suspending her campaign. i'm going to quote from the carly for president website. this campaign was about citizenship, taking back our country from the political class that serves the big, the powerful, the wealthy, the well-connected. election after election, the same empty promises are made. i've said throughout this campaign quote and again this is carly fiorina stepping down out of race, that i will not sit down be and quiet and not going to start now. while i suspend my candidacy today, i will continue to travel country and fight for americans who refuse to settle
for the way things are. who, governor heineman gets carly fiorina's voters who are looking for the next candidate? >> well, first of all, let me say carly is an outstanding individual. i had dinner with her several months ago. i'm sorry to see her get out of race, it's not unexpected, i expect others will follow. you mentioned governor christie, that will happen in the next 24 hours would be my bet. it's down to a five person race when you think about it, on the republican side, trump, cruz, rubio, bush and kasich, and i agree with phil, i think it's a tough road for governor kasich as he heads south, he's got hope to he can last through ohio march 15th winner take all. i think the south carolina vote is crucial for a variety of our candidates especially rubio and bush, how well they do down there, can one get into second or first? donald trump is the clear front-runner and going to be difficult to beat.
>> okay, phil, i don't want to ignore dr. carson. he still hasn't made any kind of announcement here. i know you're on the democratic side, he's certainly got traction with a certain voter type interested in hearing his quiet but perhaps strong message. >> there's -- obviously, there were a number of people on the republican side and the real question comes, who's got the staying power, who can close the deal? and in a sense he's been out of that process i think for some time now. liz: can i ask you -- it's ridiculous to make the comparison because they're two completely different people. with carly fiorina suspending her campaign, are those who are perhaps looking for the history making moment of a female president, do they perhaps any stretch to say they'd go to hillary, maybe? >> look, i think it's very difficult to say that one person's voters are going to go somewhere else.
certainly there are people who are interested in a woman president, who are interested in carly. liz: how about vice president? >> may come to -- and may come to hillary. i think they'll scatter tout different places just like they will with every other candidate. liz: governor heineman, would maybe a leader, one of the front-runners say i'm picking carly as my running mate. >> you got seriously consider. she's just a terrific individual. had a great message, didn't have a lot of money, i think that complicated her situation. dr. carson is a terrific individual too, but it just doesn't seem to be his year. the campaign is lagging now, and as i said, i think it's down to five. each race, each week is going to get more difficult and probably as we go along more and more candidates fall by the wayside. eventually the republican side will look like the democrat side, down to two candidates and makes the choice clearer
for most people, who do you want to choose? and again, we'll see what happens, but presidential races are very difficult, particularly when you don't do well. liz: great to have you both, from the north, governor dave heineman. from the south, tennessee's phil bredesen. thank you so much. >> thanks. >> the breaking news hitting the tape at the moment is carly fiorina suspended her campaign, she says she's far from out. she'll be on the trail. she'll be traversing the nation and fighting for what she believes is right, but you heard governor heineman say you'd have to seriously consider her as a running mate if you're one of the guys left on the republican side in the race. 45 minutes before the closing bell rings. ♪.
liz: yes, the genesis song land of confusion. that's what the markets appear to be singing today as fed chief janet yellen sent quite the mixed message before congress about future rate hikes. man who could have called that six months ago and did, right here on "countdown." peter schiff telling us the fed missed the window to raise rates and the economy would get fingers slammed in the window if the fed moved. peter schiff's newest warning next. >> if the fed takes away the monetary supports, we're going to be in a bear market, a deeper recession, we're going to resume the financial crisis interrupted by the monetary policy. thanks. ♪ [ male announcer ] fedex® has solutions to enable global commerce that can help your company grow steadily and quickly. great job. (mandarin) ♪
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. >> the fed for instance, in charge of the treasury market, basically has to stay where it is or maybe lower interest rates or have a renewed quantitative easing program at some point. liz: don't say the bond king of janus capital didn't warn you, that was monday on "countdown" where bill gross warned that might happen. sure enough at one point during testimony before congress fed chair yellen suggested exactly that. let's bring in the floor show, somebody warned in august it would be terrible time to tighten.
peter schiff along with traders at the new york stock exchange, cme group and the nymex. doreen, the market is confused by yellen, namely a rate cut isn't necessary but we're not on a preset course to do anything anticipated. how are we to interpret that? >> i'm a little surprised anybody was surprised at all at what she said, i think it's what most traders expected to hear from her. i think that it's been very clear for a very long time, this is going to be a very gradual process, we know it's much more gradual than originally thought. i think more or less traders are looking forward as soon as she stopped talking, cisco as a bellwether for guidance after the debacle in the tech sector, we want to see what the guidance coming out of that company is going to be. initial jobless claims and retail sales for the rest of the week are going overshadow much of what she said today. liz: mark sebastian, we may not
be surprised by what the fed said, but the markets have shown complete confusion today, intra-day of the major indexes, mostly the dow, the nasdaq looked healthy but the dow has been up, down, all around. called it land of confusion, what does this tell you? >> well, i mean, you get a confused market, you've got a confused fed. nice to see, one of the piece i saw from the statement this morning that was valuable was acknowledging external forces are affecting the u.s. interest rate market. going into december they were ignoring europeans killing their bonds and currency, japan doing the same and china killing their currency. it was nice to acknowledge that the u.s. is no longer in a bubble and maybe the reason why they can't raise rates is external forces. additionally, the one thing that was odd, this was weird. it was okay, we're not going to raise rates because the market
is selling off, but when the market calms down, we might start raising rates again, except the market is selling off because you might raise rates again, it enters this crazy circular logic. you want to know why there is confusion, the fed is creating it. >> here we are, luke, barely above $27 a barrel. we got a drawdown when it came to inventories for oil. big deal, 800,000 barrels of a drawdown, we have millions and millions too much, correct? >> the number wasn't a big deal, today is a good day to look at oil in correlation with other asset classes. if the dollar moves up 1%, oil should move down .75%. what i want to do is looking at oil and see how it's going react to the dollar. if the dollar has a couple of good days and oil doesn't collapse, maybe it's starting to form a bottom and get stronger. if not, and if oil doesn't
break 30 i'm an optimist. liz: to peter schiff, we showed what you said in august, the window was missed years ago, what is your prediction now, you used term collapse, crash, could be a little bit of hyperbole, i don't see exactly that, peter. falling, there is beneath this market but hot air, we are in a bear market, it's going to continue until
the fed capitulates and tells the truth. the problem for the fed is they're in the credibility box which i thought they were smart enough to avoid when i thought they wouldn't raise rates at all. i overestimated intelligence. they were dumb enough to raise rates a little bit and think it won't matter it. matters a lot. and janet yellen testifying today, she needed to give wall street something, she needed to say no rate hikes are coming in the foreseeable future, that's why the market is so much lower. liz: duck billed platypus that looks like a beaver and all that. peter, stay in the chair, we're at session lows for the dow. peter is coming back with more on his predictions, 35 minutes before the closing bell rings. don't go away.
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peter schiff of euro pacific >> gold's in a perfect position right here, rallied $150 since the day after the fed hiked rates. you have two possibilities, one if the fed continues to pretend it's getting ready to raise rates again or raises rates, then the stock market's going to keep falling and gold is going to benefit from the flight to safety bid that's been driving it recently. on the other hand, if the fed tries to save the stock market and calls off the rate hikes or cuts rates back to zero which i think they're going to do, gold takes off. the whole story driving gold lower. liz: showing the spyder gold trust, 109 to 114, are you saying that gold trajectory continues? there are bad pieces of news over the past couple of months and gold is languishing a bit until recently? >> i think it's going to continue, if the fed has to
admit that rate hikes aren't coming, gold is going to take off, the entire case for selling gold for the past few years has been predicated on the fed normalizing interest rates. if they admit they can't do that, if we're back at zero again, if people realize we're trapped in the monetary roach motel forever, it's qe infinity, there is nothing to restrain the price of gold and it's going to take off. have you people short gold and they're going to get crushed when the marke the shorts because there's not a lot of physical gold around. liz: for those who missed what yellen said today, i was taking notes and here's what jumped out at me. growth since the crisis is disappointing. we knew that. and should look at negative rates, this seemed bizarre to me, in the spirit of prudent planning. translate that for our viewers? >> first of all, nothing prudent about negative rates, the fact they're considering it means it's g
crushed because of negative rates. so the fed should rule it out. they're desperate, trying everything they can to delay the day of reckoning, the problem is because they delayed it so long, we have a lot more to reckon with. >> i don't know if i have a candidate. gary johnson is running as a libertarian, i don't know if there is anybody i can philosophically get behind. liz: you know why i'm laughing? i'm only laughing because i love that you are consistent. there's peter for you, totally consistent. peter, thank you, thank you so much for joining us. >> sure. liz: peter schiff, euro pacific capital president. another major market player is joining us tomorrow, allianz
chief economic adviser is our guest on "countdown" 3:00 p.m. eastern. cannot wait to hear what he has to say about janet yellen saying that even considering negative interest rates is something to consider in the spirit of prudent planning. closing bell, we're 27 minutes away. we are close to session lows right now. the dow swung more than 268 points during the session, closing bell, as i said, on the way, we're coming right back. don't move. they represent blood cells. and if you have afib-an irregular heartbeat that may put you at five times greater risk of stroke they can pool together in the heart, forming a clot that can break free and travel upstream to the brain, where it can block blood flow and cause a stroke. but if you have afib that's not caused by a heart valve problem, pradaxa can help stop clots from forming. pradaxa was even proven superior to warfarin at reducing the risk of stroke, in a clinical trial without the need for regular blood tests.
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again, carly fiorina out of the gop race for president, still have not heard word specifically or definitively about chris christie, although there are reports specifically coming out of charlie gasparino, and then i saw that everybody followed you on twitter and on the web saying now, we're hearing but what specifically did you hear about chris christie? >> that he's out. liz: you heard from -- >> from his donors. liz: that is legitimacy. >> they're getting it from the campaign and he's done, just a matter when he's going to officially announce it, and i think we had it first, two minutes before the "new york post" and ap filed. liz: you know what my mother says? >> what. liz: he's reading both at the same time. i said mom it matters two, minutes is a big deal. it's the scoop. >> it matters because we're in a desperate, desperate fight to
win and beat cnbc, and every time you beat them with a news story, it gives you credibility and legitimacy. liz: you beat everybody on this. >> we should turn to my asac story. liz: steven cohen. >> you talked about billionaires courted by the candidates, anybody courting him for his support? >> i have no idea. that's not what i'm --. liz: i'm sorry, i was told. >> i thought we were doing this first. >> okay, he's look for independent monitor. >> we should point out steve cohen is going to be back in the business, settled with the sec, the securities and exchange commission as part of the settlement and gone behind the scenes with the markets blowing up, the big election, one of the big pieces in the law business, huge chunk of change, $50 million for doing almost nothing. >> i want to that job. >> quote, unquote monitor steve
cohen's activity. he's still trading, $11 billion of his own net worth, that's where the competition is going. former monitor, bart schwartz is done, contract has ended, steve cohen is looking for a new firm, it's one of the biggest pieces of business. liz: specifically with does a monitor do? >> i watch you trade and make sure you didn't violate laws. what makes this such a good piece of business. liz: independent. >> you're paying them. what makes it such a big piece of business. liz: how is that independent? >> it's not like you have to defend him, not a costly thing, you reap the money, it's 50 million. rudy giuliani's firm had the inside track, but we should point out rudy left, that may be the inside track now. we're keeping an eye on this.
this is a bigtime race within the wall street legal community, who gets the big piece of business, it's a lot of money, a big job, and two years, steve cohen is likely to manage money outside and you might have a place at the firm where you make more money. that's what's going on right now. we should point out, since you mentioned steve cohen, because of his association with ken langone, the financier, former co-founder of home depot. he was close with chris christie. i broke several stories that cohen was giving money to christie. nobody knows where he's going next, where ken is going to go next when this is done, there is a presumption that they all might go to jeb, jeb bush, but you know. here's the thing about this race, if you notice, kasich became -- came in second, right? what separated kasich -- i'm
saying it right now, kasich, from rubio who came in fourth or fifth is not that much daylight. there is still, the establishment candidates are bunched together where you have trump, and depending on the state, cruz, way out ahead. so it's really hard to figure out where the money is going to go. liz: it is incredible that kasich in a race where it's been nasty. the cruz, rubio, the cruz trump, the trump, jeb viciousness that kasich didn't go negative and came in second? >> you know, here's the interesting thing, give you timeline here, i was in vegas over the weekend and watched the report in vegas, on saturday afternoon, i tapped into rubio. >> i watched it in new jersey. >> i watched it at the aria grand ballroom, free drink, free food. >> i had mine at southwest grill in new jersey. >> let me just tell you, this
will give you indication about what happened with rubio. on saturday before the debate, i called my rubio sources to the man and to the woman, called about three, the independent polls show him surging again. that he was likely to beat kasich, he could get 20% of the vote and come in second behind trump. debate happened literally last night and i'm sure you saw the e-mails, debate said kasich is surging and they're lagging, that debate cost rubio among supporters. we'll see if he can recover. i do know today he's calling up major donors and saying stay put, i'm in it for the long haul. this is inflection point for marco rubio now. liz: i'm glad you're with me, staying put, thank you very much. the dow down 102, a second ago 105. the s&p turned negative, just barely by half a point. this could get a little rockier
in the next 17 minutes when the closing bell rings. coming up, the man who dives in where others run and hide. wilbur ross in the green room putting his money somewhere in the volatile markets, but i'm going to ask him which does he think you should think of janet yellen's rate redux talk. what would wilbur do? we live in a pick and choose world.
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yellen today said wait a minute, maybe we should be more like the japanese, she took a more cautious tone during day one of the biannual testimony on capitol hill citing global economic troubles and the recent sell-off as the potential reason the fed not only would delay a rate hike but maybe ticks back a quarter percent hike and japan's page book in negative interest rates. adam shapiro, peter didn't seem surprised, peter schiff, i was surprised she would invoke the possibility in the, quote, spirit of making sure we're really flexible, keeping that option open? >> that option was discussed by the federal reserve in 2010 but never went forward and never thoroughly explored whether it would be legal to do. yes, she kept the possibility of rate cuts on the table, the possibility of rate increase on the table, the words were they're watching and seeing how the global economy evolves and the u.s. economy in a manner
that will warrant gradual increases in the federal funds rate. negative interest rates caught everyone's attention, and here's what she said. >> in the spirit of prudent planning, it is something that in light of european experience, we will look at, we should look at, not because we think there's any reason to use it, but to know what could potentially be available. >> the question is can they do it legally? never answers that question having it thoroughly exploited. liz: i want a gun, i want a knife, not they want use it, but i want to know what's out there. adam, this shows confusion, i respect janet yellen and the fed, it's a very tough job they have, that i think is going to make the headlines. >> it was a headline maker as was the one last quote that she had where she said if the
economy were to disappoint, a lower path to the federal funds rate would be appropriate. we've been talking about rate increases and she was saying well, we'd cut rates if we had to. liz: adam, thank you very much. now down 103 point, anybody who thought bad news was good news, it's bad news for the moment. closing bell ringing in 9 minutes. china, european banks, japan, causing a big moment of unease on wall street, should you be scared out of the markets? wilbur ross has an actual plan what he thinks you, the retail investor should be doing right now. he's going to tell you when we come back.
but that waving a big stick threat, what should that make you do, run away from the big stick? or find a way to salt in money? let's ask a guy who knows. joining me in fox business exclusive, legendary billionaire investor wilbur ross of w.l. ross & company. thank you for joining us. first your thought on what janet yellen said today? >> well i was disappointed in the conference in a couple of ways. first of all i think to keep showing tentative views about the economy is a very bad thing for the federal reserve chair to do. i think part of the reason that we have the market malaise, they dithered and dithered and dithered about the first 25 basis-point hike. it became an event blown all out of proportion. second they should have raised it much sooner to replenish their tool kit. right now the only thing they can do if the economy starts to
tank is go to negative interest rates. liz: you think that is distinct possibility? >> if the economy keeps getting -- liz: japan? that is the kind of thing. >> she said we should follow japan's example. that to me is not a great idea. because it hasn't worked all that well in japan. liz: you're not saying that she won't go there? i just want to look to see what is out there. you talk about dithering? that looked like extreme dithering on capitol hill today. >> i think the job of the federal reserve chair is partly to be a cheerleader. i don't think she has done that part of the job very well. the second part is to be decisive and crispy. liz: we know that hasn't happened. >> no. so to go from last, two meetings ago, putting in fine almost a25 basis points and lo and behold it didn't do anything anyway. so i don't know what they were worried about. to be uncertain she may have to
go to negative that kind of negative or vacillates jawboning is pad. people, business people, can deal with good news, they can deal with bad news. what's hard is deal with uncertainty. liz: give us the news and we'll figure out the landscape. people are watching, saying, fine. we can't control what she does or what the fed does. >> that is true unfortunately. liz: tell us, tell retail investor what do they do? let's say they don't know what the fed is going to do, is there still a way to invest? >> i think there is. the world is not coming to an end. japan's world, for example, didn't come to an end even with years of depression. so i don't think this is armageddon that's coming. i think a good strategy would pick out the stock you're most comfortable with as a business activity for the next couple of years. and put in some orders down 5%, down 10%, and hope that in this
period of intense volatility they get touched off. i think that is a much more likely thing to produce good results than to hit the panic chord now. liz: perhaps we're all smarter than the fed. just pick these names that you think you really believe in as a business. carly fiorina, in the news today is stepping down. she is not going to continue running for president. >> yeah. i don't think that is a very big event at all. she was no place in the popularity polls. i don't think it changes the pecking order. i don't think it changeses the upcoming primaries. i think it's too bad but it's over with. liz: who do you think is the best person to fix what we see here, the dithering, the economy that seems to have very weak spine? >> well none of the candidates has really come with a particularly comprehensive and detailed plan to deal with what may be a pending recession. remember, we're at seven years
of or so into this very feeble recovery. and seven years is pretty close to the average duration of a recovery. so within the next 18 or 24 months it wouldn't be too surprising if a recession did start. not hopefully as one as bad as 07 and '08? it wouldn't be surprising because things are cyclical. liz: when wilbur ross doesn't have name on the tip of his tongue who will fix it. >> i was just duck your question. liz: duck away. that is what janet yellen was doing. with the dow down 96 points that was a lead of 188 fumbled today, guys. david, melissa. don't know what to do with that. twitter on deck. a lot of earnings. melissa: very busy day. david: may be pending recession from mouth of wilbur ross.
melissa: look who's back? david is back. david: i'm back from florida recharged. now on to south carolina, the campaign trailheading down south following a wild night in new hampshire. donald trump tropical storming his republican competition in -- trouncing his competition in the first republican primary of the season. carly fiorina is out and reports another candidate may be out. melissa: bernie sanders winding every demographic including women and moderates. we have you covered this hour. ed rollins, lou dobbs and former senator john sununu. david: look how the markets ended the day. it is not good. [closing bell rings] there were times all indices would be in the green. not so. two out of three in the red. dow just avoiding it, as it settles a triple triple digit loss. only one p