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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 22, 2016 3:00pm-4:01pm EDT

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you can head over to my show page, facebook page at trish intel, and "like" it, and send us your address, and i will make sure, i will certainly do my best to get those photos out to all of you. thank you, again for all those requests. and now i'm sending it over to liz. see if we can do 18,000 as we head out the week. liz: we're kind of right there. that's why everybody has to stay for the next hour. dinner with the prince at this very moment. president obama and the first lady are dining at kensington palace with the future king, prince william and his wife kate as well as prince harry, my fellow ginger. earlier the obamas dined with queen elizabeth. the president calling the 90-year-old monarch a jewel to the world. president's real business was with prime minister david cameron to discuss the fight against isis, terrorism, migrants and much more. and wrote an op-ed in a british newspaper that encouraged
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voters in the u.k. to remain in the european union, and so today's news conference got a little testy with members of the press asking president obama why he felt it necessary to put his nose into britain's business? former undersecretary of state bob hormats on why he wants to keep the u.k. in the eu. four days ahead of the crucial super tuesday part 3 primaries. front-runner donald trump in delaware fighting off the pc police while hillary clinton is pushing economic agenda in pennsylvania. as dems are starting to push bernie sanders harder to drop out, we've got the democratic presidential candidate who did just that, he dropped out this time around. lincoln chafee in a fox business exclusive on whether he agrees with the banish bernie now crowd. plus the battle for rhode island. on wall street, a bit of a tech
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wreck as markets struggle to overcome bad news from the big names. we are slightly below dow 18,000. all that plus the latest on prince's final moments, and the cost of crushing climate change. we're less than an hour to the closing bell on this friday. let's start the "countdown." . liz: will we or won't we? the dow currently battling to close above 18,000 today, and by the way, both the dow and the s&p 500 are eking out what will give them weekly gains but the nasdaq is down and below that opportunity. why? we have an earnings short circuit. microsoft reporting quarterly results that fell short of street's expectations due to the slowing personal computer market. we've got shares wrecked, down 7% to $51.90 a share, and microsoft yelling truce with google. both giants will drop antitrust
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actions against each other. alphabet, the parent company of google, missed first quarter estimates and profit and revenue. spent more to boost mobile advertising services but clipped by about 5.3%. to the brouhaha in britain. at this hour, the reaction to this, president obama's op-ed in support of britain remaining in the european union, and boy, that reaction is burning hot. on your screen, the op-ed in the daily telegraph where president obama says -- this op-ed has not gone over well with members ever the british media or the government. one of the most prominent voices in opposition london mayor boris johnson who slammed president obama as a hypocrite. what kind of fallout could they see following today's news conference?
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let's first get to kevin corke live in london watching every step of this. >> reporter: best laid plans, right? let's make it simple for everybody watching at home. if you are in the leave camp, you have a simple message for president obama. stay out of it! keep your opinion to yourself! the other side would say listen, relative popularity in the u.k., if he weighs in, it's probably a net positive rather than a net negative. that is the talk here. and by saying the u.k. would be at the back of the cue or back of the line in terms of economic deals, should they exit eu? that's getting a lot of play in the british media. the president was holding a joint news conference saying he wanted to use the candor that you expect from a friend, and he made it clear he wanted the u.k. to stay in the eu, here's what he had to say. >> but as david said, if one of
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our best friends is in an organization that enhances their influence, and enhances their power and enhances their economy, then i want them to stay in it, or at least i want to tell them, you know, i think this makes you guys bigger players. >> reporter: bigger players. so the idea from the president's perspective is if you're in the bigger group, you can do more. the president doing a lot more than just talking about economics, and as you pointed out talking about other major issues. he spent time with the queen of england. he and the first lady meeting with the queen and, of course, prince philip, having lunch at windsor castle, celebrating her 90th birthday and a chance to hang out in the u.k. with the duke and duchess of cambridge, that's william and kate for those of you who don't know, and prince harry, your fellow ginger spending time with the
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president today. a busy day to say the least. liz: i feel akin with, yes, the prince with the ginger. thank you very much, kevin corke. so should an american president offer his advice on british affairs? and were the president's answers on the crisis in syria indicating a solution possibly linking arms with hostile countries, will be that reached? joining me in a fox business exclusive, former undersecretary of state bob hormats. welcome, bob. the president inserted himself into a domestic dispute, two countries, where do you stand on that? not unprecedented? >> no, not unprecedented. europeans venture about american politics and policy all the time, so i don't think there is anything wrong with doing it, the question is what will be the domestic political implications in the u.k. we don't know. that people who are for it will
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probably think this is a very good idea. those who want to get out, probably think it's a bad idea. the arguments he made i think were quite correct, britain is much stronger in the eu than it would be outside. we would like to have britain in because they're the more market oriented of the economies of the major economies there with the exception of germany. liz: the market actually dropped down, that's not my phone, is it yours? it's so yours. okay, bob is going to turn it off. austin, you can't yell at me for that one. looking at what we have as far as boris johnson whos is mayor of london, certainly was outspoken, some say he went a little too far, called president obama half kenyan. that's the big insult? he is for britainlisque the european union. >> yes, he has.
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liz: he understands economics, why is he wrong? >> i don't know why. i think he's on this largely for domestic political reasons. in the u.k. it's stronger in europe than it is outside. within the u.k. it can help influence policy throughout the european union on economic issues and others, it's a more market-oriented economy than many others as i mentioned earlier. the second thing is we want the european union and we want the major members to take very strong positions vis-a-vis russia, and britain has tended to do this, and therefore, it's an ally within europe. liz: speaking of allies, allies versus nonallies, i bet a lot of people care less about that issue and more about isis and how allies are going to work together to get rid of isis. listen to what the president said specifically about syria and all the conflict that's going on and you can comment on this. i need you to hear what he said.
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>> we cannot end the crisis in syria without political negotiations and without getting all the parties around the table to craft a transition plan, and that by necessity means there are going to be some people on one side of the table who i deeply disagree with and whose actions i deeply abhor, and that's how oftentimes you resolve conflicts like this. liz: who is he talking about? >> iran and russia. they are players. iran is a big player in syria, it supports hezbollah, one of the big supporters of assad. russia the same thing, they don't support hezbollah but a supporter of assad. they have troops in there and military nashg there. so as a result, he needs to work with those two countries
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and craft a solution. they have a seat at table. they have troops or advisers on the ground in some cases, or surrogates on the ground, and they're going to play a role. so if you're going to find some transition which either gets assad out or dramatically reduces his role, they're going to have to be in it. liz: quickly the president stepped forth into the saudi arabian situation, and he went there first to meet withing lmanf thhousof sd. therare mandiscsion abouthis28 pes othe initl 9/ rept th incatehereere estis about the saudi government. looks, we've had saudi arabian, former ambassadors to the saudi arabian government, they saw it, read it, don't see a smoking gun. you have seen it? >> i have not seen it. therefore it's very difficult to comment, obviously. liz: would you like to see it? should it be released to america? >> i suppose in the issue of transparency, understanding what it is. the saudis make the point that
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there were no senior saudis voedndheovnmt if that's the case, then maybe this can clear all that up. but it is certainly a political hot potato. the administration doesn't want congress legislating about it. so people know it's there. it's awfully hard for it not to get out in the public. liz: what was the ring tone of yours, sounded like elevator music? >> just to cheer you up on a friday afternoon. [ laughter ] >> bob hormats, former under secretary of state and chairman of goldman sachs and now with kissinger inc. tune into a fox business report tomorrow night, fox news reporting secrets of 9/11, hosted by bill hemmer, at 8:00 and 11:00 p.m. eastern. we hope you watch it. we're about 49 minutes before the closing bell rings. the nasdaq deep in the red. we'll hit the floor show and traders to check the high-tech
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sell-off. we can't just blame tech. starbucks is hammered, down 5.25%. smells like burned coffee. this could be the pullback you've been looking for to get into the stock. look at this. the world's biggest coffee chain spreading wings in south africa opening first store yesterday, where thousands, thousands waited online for 12 hours for a first taste of the extra foam half calf double soy venti latte. new details in the death of musical icon prince. all-to-familiar story scrutinized at the time of his untimely passing. we'll take you live to minneapolis coming up. poor mouth breather.
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. liz: breaking news, 44 minutes before the closing bell rings. look at kimberly clark, investors grabbing the tissue box at this hour, despite a rise in profits, shares seeing biggest percentage drop after the maker of kleenex and huggies reported lower than expected sales. claiming the victim. kmb is trading down 3.63% at this hour. it's a widely held stock in people's portfolios. tech taking a tumble.
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the nasdaq in the red for the week in large part due to microsoft and alphabet. the tech sector is the worst performing sector in the s&p 500 today. what's the play heading into next week? fed chief janet yellen and company will gather. right to the floor show. traders at the new york stock exchange, the cme group and the nymex. tech is hurting the picture today and straddling the 18,000 level. what do you think drives us this next week? >> despite tech, it's a very impressive day for the small cap sector of the market. the russell 2000 is up 1%. liz: it's in the green at this hour. >> yep, and still a tremendous amount of money going into the energy and oil stocks despite the strong dollar. i think there's still some production interruptions from the kuwaiti strike earlier in the week. the rig count that we had a couple hours ago came in at
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another all-time low, and the inventory report wednesday showed continued decline in u.s. production and the u.s. has become the swing producer in the oil global story. those are still going to be in focus next week. it's going to have a tremendous amount high-level earnings and have a lot of high-level macrodata situations highlighted by the fomc decision wednesday and the first look at q1 gdp wednesday. liz: jeff grossman at nymex. we're hovering around five-month lows, jeff. do you expect us to go lower or higher. we've got the rig count which we always get every friday. they keep slicing and dicing and shaving off the rigs. we have far less capacity. down 360 of them year to date. oil moving slightly higher.
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>> that is a factor of what's happening here. at these levels, you start to see people go off. as we go higher, it seems that way. some will come back on. that's when the market will lose the impetus to the upside. i see the market grinding here. this is a market that maintains to be a market to be bought on dips. again, we are behaving much better than expected with the bad news that came out of the nonagreement that took place. traded down 37 1/2 dollars, the inventory reports have not been that friendly and the market is still working its way higher. i see a continued move up. you're going to run into resistance in the high 40s, and then the market may work sideways for a while. inventory reports coming up this week and next week will be crucial and see where we take it from there. >> i think so, you've got to
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watch the inventories and see if we see a dropdown at some point. chris robinson, to you. treasuries didn't do thatch. there isn't a lot of fear in the market. yields started to rise. you've got the fed meeting next week which tim mentioned already, we're not expect a rate increase at this point. what do you look for in the words that janet yellen puts forth. >> two weeks away from another unemployment number. what she said, can continue to be dovish, there is a feeling that they've been reluctant to do anything, the last time they raised rates 15,% correction in the dow. we've come all the way back now. they're wary of anything to rock the markets too much. they're going to err on the side of doing nothing. one month low in the futures. that's people saying they're going to stay steady or higher ourselves. look at stock market.
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back up at the top of the range. 300 points from the record high in the dow. closing in on 2100 in the s&p, and look at the nasdaq, one of the things with the nasdaq is it couldn't take out 5,000 again. the big, round numbers, everybody is a technician today and i would watch and see how we react when she talk. nobody is anticipating anything exciting when she talks. liz: you are fired, we always find the markets exciting. even on a friday, it's always exciting. tune in tonight to "wall street week," the iconic show on fox business. 8:00 p.m. eastern friday night, every friday night. stick around for john stossel's show "stossel" at 9:00 p.m. eastern on the fox business network. closing bell about 39 minutes away. hillary clinton and bernie sanders bringing nominatn battle to pennsylvania ahead of
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next week's super tuesday 3 where maryland, connecticut, delaware, rhode island have a say in the 2016 race. coming up, going one-on-one with former democratic hopeful lincoln chafee about the last man and woman standing in his party. the historic agreement that the united nations signed at this hour as the paris climate change agreement brings more than 150 nations and billions of global taxpayer dollars together. coming up, a fox business exclusive with the visionary ceo who ran one of america's biggest utilities. former nrg ceo david crane we ask would he sign this deal? stay tuned we're coming right back.
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. liz: breaking news, this just came in, take a look. moments ago, president obama and michelle obama arriving at kensington palace where he and the first lady are dining now
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with the duke and duchess of cambridge, meeting will and prince harry, and the lovely kate, i want to see prince george, that cute little baby, so cute. past his bedtime, i'm told. we'll get the menu later. meanwhile, it was a historic meeting at the united nations today. the united states and 171 nations from around the globe signing the paris climate agreement here in new york city. the accord cuts emissions and keeping global warming to 2 degrees celsius. some estimates suggest the cost of the plan will be daunting. look at this on the screen. $12.1 trillion over 25 years. the tab to be picked up by taxpayers around the world. joining us, a man who ran a gigantic player in the energy sector and worked hard to get nrg into solar investments. former nrg ceo david crane,
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great to see you. you have seen the accord, you have not? >> yes, i was in paris. liz: would you sign it if it were in front of you and you ran a nation today? >> yes, actually, i would. it's part of -- it's an extraordinary consensus. 171 countries. i thought 195 signed on in paris. i don't know where the other 24 are. but to me it's a sign of a new global environmental morality, and so i would absolutely sign it, and glad to see secretary kerry signing it with a small child on his lap. liz: his granddaughter. >> that's who you're doing it for. liz: exactly. the nations you're talking to either they couldn't catch a flight or wasn't an aisle seat and they said i'm out. it is rather onerous and people would look at it and say i don't see the payoff. 2 degrees celsius.
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china is the big carbon offender and they say we'll reach a plateau of emissions around 2030. thanks a lot. how is china adding to the positivity of this? >> i couldn't see where the number came from, i don't think it's worth the paper it's printed on. extrapolations on -- liz: you mean the cost? >> the cost. everything is based on linear extrapolation, we're talking about what we can achieve over 34 years, paris sets this goal and there will be all these disruptive changes. back in 1990 we were in the same place on socks and knocks, and the bush administration created the cleaner air act and we provided it substantially quicker and cheaper. liz: funny that you bring that up, elon musk of tesla saying he owes george bush a big thank you. people think this is a
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democrat-pushed issue. it is not? >> no, secretary george schultz once almost chewed my arm off because i suggested republicans were anti-environment. from teddy roosevelt through epa being founded lie richard nixon to bush 41 with the clean air act amendments, most major government advances in this area have been under republican presidents. liz: what bothers a lot of people, though, is again the u.s. taxpayers will be floating much of what is put into this accord. you know india, for example, their effort to this says it will increase solar generation, and then you have russia not even promising to do anything, and we're going to be paying out billions for this. is that fair? >> well, it remains to be seen where the billions were paying out. lot of people say germany got into renewables too early but the fact that germany created a
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market is the reason solar panels are 90% cheaper than six years ago. everyone following in the path is getting to do things cheaper, and five years ago people say china will never do anything. china is the largest investor in the world in wind and solar, and as you said, admittedly they have a long way to come. liz: they don't want people seeing them of the video wearing face masks during the olympics. appalling how dirty the air is there. you resigned from nrg in december, the implementations of the solar farm in california which is gigantic, they weren't paying off fast enough for the board or shareholders. now in march, there was a report that that very solar farm in california is on track to make all the money and more and do very, very well. the industry logic might not have squared with shareholder
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logic and you became a victim of that. >> thanks for saying i resigned, i actually was fired. liz: okay, well -- >> it's supported by the american taxpayer, through a federal loan guaranty, the american taxpayer will be paid back. it's a fantastic engineering achievement, and pleased it could be operating as it's supposed to. liz: you know what is said about legacy, it's planting seeds in a garden you may never see. you are joining pegasus as a private equity outfit. >> they invest in sustainability which is where the future is. liz: david crane, thank you so much. please come back again. >> i will. liz: the dow two points below 18,000. take you live to a donald trump
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rally in harrington, delaware. connell mcshane is waiting on mr. trump. he's going to tell us what the republican front-runner has planned just four days until super tuesday 3. donald trump making waves in the democratic race by encouraging bernie sanders to hang on in his fight for the presidential nominations despite the growing push by democratic insiders to shove bernie out. former democratic presidential candidate lincoln chafee dropped out. he drops in with his take on the state of the 2016 race. that's next on "countdown." stand by, governor. before i had the shooting, burning of diabetic nerve pain, these feet were the first in my family to graduate from college and trained as a nurse. but i couldn't bear
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my diabetic nerve pain any longer. so i talked to my doctor and he prescribed lyrica. lyrica may cause serious allergic reactions or suicidal thoughts or actions. tell your doctor right away if you have these, new or worsening depression, or unusual changes in mood or behavior. or swelling, trouble breathing, rash, hives, blisters, muscle pain with fever, tired feeling or blurry vision. common side effects are dizziness, sleepiness, weight gain and swelling of hands, legs, and feet. don't drink alcohol while taking lyrica. don't drive or use machinery until you know how lyrica affects you. those who have had a drug or alcohol problem may be more likely to misuse lyrica. now i have less diabetic nerve pain. ask your doctor about lyrica.
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top gun graduate, aide to two u.s. presidents, commanding officer and harvard national security fellow. i'd say buying a car, uh, can make you as nervous as landing on an aircraft carrier. but usaa car buying service mitigates those fears. uh, they make it a very easy experience for you. find the right car, save money. it's that easy. usaa car buying service, powered by truecar. exclusively for usaa members. . >> i'm adam shapiroo on the floor of the new york stock exchange. take a look at the markets right now. the dow is trying to hold onto positive territory, negative most of the day. an hour ago back into the green.
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s&p 500 actually fell back into negative territory, might make a jump into the green. nasdaq, however, it is negative, negative for the week. oil prices finished higher despite a failure by opec to agree on production sights. signs the supply glut may be tightening. shares of advanced micro devices are soaring up 43% as the chipmaker's forecast could surprise an increase in current quarter revenue, that could end a six quarter spell of declines. we'll go back to liz claman in just a moment. every year, the amount of data your enterprise uses goes up. smart devices are up. cloud is up. analytics is up. seems like everything is up except your budget. introducing comcast business enterprise solutions.
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. liz: donald trump on the campaign trail in delaware right now. one of the five states gearing up to vote on super tuesday 3 as we're calling it. rival ted cruz hitting the sump
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in pennsylvania, another state set to vote tuesday. senator cruz had strong words, would you expect anything less, for the donald on the controversy over state laws regarding transgender citizens and bathroom laws. >> donald trump is telling the american people that he's lying to us. yesterday, donald trump agreed with hillary clinton and barack obama and donald trump argued that grown men should be allowed to go into girl's rest rooms. this isn't a question of left or right or conservative or republican, it's basic common sense. liz: connell mcshane standing by live at the trump rally with how donald trump is strategizing for tuesday's all-important nomination contest. connell, is anybody in the crowd you are talking about in the crowd care about the bathroom issue? >> not really from what i could pick up. big story of the news yesterday to. wrap it up with the cruz comments you played, donald trump went on the "today" show early in the day yesterday, came out against the north
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carolina law, and appeared on fox news channel with sean hannity last night and said this. >> i think that local communities and states should make the decision. i feel strongly about that, the federal government should not be involved. >> reporter: federal government should not be involved. that's that. i wouldn't expect trump to get into it, you never know, and we'll see. what we are seeing is this trump campaign essentially split in two, if that analogy works. two trump campaigns running at once, you have the one behind me as they warm up the crowd. the large rally trump campaign. certainly getting the crowd fired up. all the lines they've come to hear and expect over the last couple of months. on the other side, you have the serious presidential campaign talked about with the foreign policy speech planned as an example next week in washington, d.c. wednesday. let me talk briefly about delaware. you wouldn't think delaware would be a state with a lot of influence.
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in a year like this, it very well might have an enormous influence. pennsylvania, 71 delegates yesterday. only 17 of the 71 delegates go to the statewide winner because 54 are free agents. in delaware, they have 16 delegates. delaware is close to pennsylvania. one of the reasons trump is here this afternoon. we expect him in about 20 minutes. liz: every delegate counts this time around. unbelievable, connell. so glad you put that map up for us, makes it much clearer. connell mcshane live in delaware. he will jump back in if anything happens. both democratic candidates stumping in the keystone state. hillary clinton on economic barriers, used the platform to launch a familiar attack on her opponent senator bernie sanders. listen. >> everyone together for comprehensive background
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checks, closing the online loophole, whether or not the background check is complete, ending the special protection before gun makers and sellers. [inaudible]. >> the gun issue that senator sanders in vermont has been supportive of. i'm joined exclusively by somebody who shared the stage with the candidates, former democratic presidential candidate lincoln chafee. thank you for joining us. >> thank you, liz, for inviting me. liz: heck, let's get to rhode island. part of super tuesday part 3. you were the former governor of rhode island, tell us what the feeling is on the ground for both of the candidates? >> we have an open primary, the unaffiliated voters choose tuesday whether to vote in the democratic primary or the republican primary. most of the voters in rhode island are in the unaffiliated independent column. that will be significant where
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the independents go into the sanders-clinton primary or the trump-cruz-kasich primary. that takes a big difference compared to new york, which is closed, and some of the other states. liz: good point. you dropped out for a whole host of reasons, you weren't trending at 1% with voter recognition, also money, et cetera. bernie sanders has a different experience, he's raising $40 million a month. large swaths of voter approval, especially with the younger vote and you have democratic insiders telling him as politico told him don't take the fight to philly. do you think that bernie sanders at this point who has quite the delegate deficit, does he need to drop out? do you feel that way? >> first of all, to go back a year or so ago, there was a tremendous feeling that the democratic party shouldn't have a coronation of just one candidate, and i thought there was room for somebody to get in
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there and raise the different issues with the democratic electorate and senator sanders came in with no money and took office, you said, what, raising 40 million dollars a month or whatever it is? it's been an up-an-down primary session. he did well in iowa. won new hampshire and did not do well in massachusetts, and in the first super tuesday, did well in wisconsin. did not do well in new york, obviously. it's been a roller coaster and the sanders people question should he get out or just ride this out a little bit longer and see where it goes? it has been up and down. liz: so you're saying no, don't get out just yet? >> that's up to them. they're going to make the decision. obviously, they've done a lot of things right. liz: look, you used to be a republican and felt that your beliefs aligned way better with the democratic party because you were more of a centrist individual, which i personally believe most americans are centrist, depending on the
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issue. if you took back former persona as a republican, is there a candidate on the republican side that you feel has it right? >> you see them get into the primaries and they get pulled way out of extremes. you talked about the bathroom issue, this is one of the main reasons i got out of the republican party. social issues, gay marriage and the like, now the bathroom issue, and you see donald trump having to backtrack a little bit because he's getting into the republican primaries. jeb bush, looked so uncomfortable campaigning in a republican primary. you really get pulled way out to the extremes. you saw it with mitt romney and john mccain. romney was governor of massachusetts for crying out loud. john mccain was a very centrist senator. once they get into the primaries, they have to change. liz: and maybe move more to the center in the general election. governor chafee. >> it's hard to do. it's hard to zigzag. liz: i can only imagine. that's why i'm here and not there. governor chafee, good to see
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you, thank you so much. lincoln chafee. >> thank you. liz: you're welcome. much more on the 2016 race on fox business. tune into "making money" 6:00 p.m. eastern with charles payne. he'll give you the latest poll results out of indiana and california. keep it right here for all your 2016 coverage. you both have a
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. liz: just getting this breaking news in, we're expecting to have a news conference with carver county sheriffs. that, of course, is in the minneapolis area, at 4:00 p.m. eastern. 9 1/2 minutes away. they're going to discuss some of the, of the case of prince's death. of course the music legend died yesterday at his home just outside of minneapolis, 4:00 p.m. eastern, a news conference, fox business will, of course carry it. within five hours of the tragic death of prince
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yesterday, five of his hit songs, "purple rain," "little red corvette," "when doves cry," "kiss" and "let's go azy"urgeto t toppots ontunechar. four albums dominating the album charts. while music sales are soaring, details are under wraps as they are investigated at this hour as far as the untimely death is concerned. first responders did try cpr but could not revive the 57-year-old musician. fox news' mike tobin live in chanhassen with the latest on prince's death. we know an autopsy is performed today, as everybody seeks some answers? >> reporter: well, and we know that the autopsy has been completed and the body of prince rogers nelson is released to the next of kin for funeral planning. this does not mean we will in short order start to get
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answers as far as what caused the sudden death of prince. the autopsy was performed by the chief medical samples of toxicology or for toxicology were sent off for labs but the results that could tell us if prince had drugs in his system could take weeks and can't be more specific than that. but that information could be acutely important specifically in light of the information that we're getting from the celebrity gossip website "tmz." that website reports prince was on the prescription painkiller percoset and had been on percoset when he had surgery for his hips. "tmz" dropped the bombshell that the emergency landing made by prince's plane in moline, illinois was not for the flu as was relayed by handlers but for a drug overdose. none of that information is confirmed. we expect to hear from the
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carver county sheriff, jim olson in just a short time, and maybe we'll get answers to that effect. possibly if the death was from natural causes, we could hear that in short order. all the fans sudden they have lost an icon. they went to the first avenue club, made famous in "purple rain" to dance the night away last night. the overflow crowd spilled out into the street, they danced to prince's songs, sang along and partied until the wee small hours of the morning. here at paisley park studio, a constant stream of mourners, well-wishers dropping off flowers, hang the purple mylar balloons, all wishing to express condolences, some say they want to make it all real. back to you in new york. liz: thank you, mike. the autopsy has been completed and awaiting press conference by the carver county sheriff's department about the death of prince. fox business will bring you the
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press conference at the very top of the hour. we'll be right back. the dow is up about 15 points. more straight ahead. and it affects each and every one of us. microsoft created the digital crimes unit to fight cyber-crime. we use the microsoft cloud to visualize information so we can track down the criminals. when it comes to the cloud, trust and security are paramount. we're building what we learn back into the cloud to make people and organizations safer. from virtually anywhere. to warn of danger it's been smashed and driven. it's perceptive enough to detect other vehicles on the road. . . . . the 2016 gle. it's where brains meet brawn. lease the gle350 for $599 a month
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liz: closings bell ringing in three minutes. we're at 18,006 points. we're just a i week away from sell in may, go away, but what happens in your portfolio if you step aside? plus we've got breaking news out of minneapolis and prince. we have appropriate person. michael binger, gradient investments in minneapolis, was a prince fan. michael tell us what is look like as we look at markets and situation with prince to be in minneapolis as this icon has passed? >> you know, really a big shock to everyone here in minneapolis as it was to everyone around the
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world. prince was pervasiven his music, his heyday, in my mid 20s, that is when his music was real strong here. people still talk about prince and listen to him. affected a lot of people. kelsey from our office was at the dance party yesterday and last night. it hit a lot of people. everyone feels it here. so sad. liz: we have the makeshift memorial has that sprouted up at paisley park. a 4:00 p.m. news conference. we're two minutes away. as we do, let me get your quick thoughts on the market. we have the fed meeting next week. put up names you like. one of them, frontier, has a 7% dividend. as we start to see rates tighten does that hurt dividend-paying stocks? >> i don't think it hurts frontier. frontier is dividend-paying stock. it is 7% plus. i don't have a huge price target but i think the dividend is well-covered. this is the telecommunications company and we sold verizon and
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at&t which think were overpriced. we bought frontier. we can get price appreciation. liz, you mentioned sell in may, go away. think year it is really appropriate statement. in the first quarter, it felt like we had a whole year's worth of action already. liz: stand by the, mike canning call. sheriff of carver county. >> car per county. this is mayor denny lautenberg. chanhassen. i'm the mayor, denny, d, e, n, n, y. l, a, u, f, b, e, n, b, e, r. >> this is martha weaver.
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from the midwest medical examiners office. >> martha. weaver. spokesperson for midwest medical examiner's office. >> welcome to car per county. i wish it was under different circumstances. this is a tragedy for all of us. to you, prince rogers nelson was a celebrity. to us, he is a newspaper member and a good neighbor. to his family he is a loved one. in life he was a very private person. we're going to continue to respect his privacy and his dignity in hope that you will do as well, in hope you do as well. we also respect media's right to information. bear in mind that this incident happened about 29 hours ago and

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