Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  May 6, 2016 3:00pm-4:01pm EDT

3:00 pm
before i knew it, and i hope i can be as good a mother to my own children. so to all the mothers out there, to all the mothers that are making sacrifices every day for their children, thank you. i love you, mom. have a great weekend, everyone. happy mother's day. liz: to you, too, trish. if you stay tuned, you're going to see a picture of me and my mom when i was three yearseled. trish: i can't wait. i was five in that picture, so fun to take that walk down memory lane. happy mother's day. liz: to you, too. happy day to the bulls, the markets are spiking higher at this hour after that disappointing april jobs report basically kills the chances of a june rate hike by the fed. dow jones industrials jumping 63 points right now as the nasdaq moves higher by 12. s&p up about 5. the major indices started reversing losses, could this go anywhere.
3:01 pm
the april jobs report, the worst in several months, 202,000 jobs were created. so the president came out a couple of hours ago to say it won't move faster until we see fairer corporate tax reform and until we see the minimum wage hike, something warren buffett says will hurt jobs. how will those two things increase job creation? coming up, we've got the united states secretary of labor for the answer, secretary tom perez is here. oil outlook up in flames at this hour as thousands of stranded oil field workers make a daring escape from a wildfire raging out of control in alberta, canada. 1500 vehicles trying desperately to flee. we'll get that to you straight ahead. the front-runners in the 2016 presidential race facing new challenges. both of them as donald trump tries to unify the gop, while hillary clinton answers new
3:02 pm
questions about e-mail server. political panel whether either of them will succeed? and it's superhero versus superhero, cinematic civil war as captain america hits the silver screen, will superhero get trumped by a tiny fish on the international screen? an imax exclusive, we've got rich gelfond whether animals may be a better bet until suicide squad comes along. tim cook heads to china, spacex one step closer to mars, and charlie breaks it on herbalife again. less than an hour to the closing best. it's friday! let's start the "countdown." let us get to the breaking news, because the markets are telling the fed right now at this hour to take a hike and we don't mean hike as in rate hike. this is an up-to-the-minute read on the latest fed funds future bets.
3:03 pm
this tells us that right now the market is pricing in just a 4% chance that we would see a rate hike in june. i checked it this morning, it was 7%, it continues to fall. right now 4%. what's the reason for the walkback? job growth well below street expectations for april. 160,000 nonfarm jobs created. we need to give you this data point from the report. the labor force participation rate, meaning people actively looking slipped two tenths of a percentage point to 62.8% in april, down from a two-year high of 63%. overall. such low levels? you have to go back to the 1970s to come close. hourly wages did rise, that is a 2% range level. since the recession, why most americans don't feel good about
3:04 pm
the economy as economists do. they're not making a lot. genuine consent a 3% gain is necessary to lift the fed's 2% target. wages have not risen more than 3% annually in seven years. what happened? after the number came out the president acknowledged the media and said the numbers are not where they should be, but came up with two solutions, hike the minim corporate tax rates fairer. but we're asking how will that encourage employers to step up hiring now? joining me secretary of labor, tom perez. welcome, mr. secretary, thank you for joining us. >> good to see you, again, liz, long time no seen. liz: it's been a while, we said the last two months were down, ridley revised, and a miss here, and having trouble seeing it especially the suggestion of minimum wage hikes. that will put money in people's pockets but i was with berkshire hathaway's warren
3:05 pm
buffett and he says hiking the minimum wage would hurt job creation? >> well, we've only studied that issue about 280 times, and debunked that myth. and go to the state of washington. typical example. they've had the highest state minimum wage in the country for something like the last 20 years. i think it may change this we're with the other state actions. you have a wonderful laboratory there, and they have no tip credit. so look at the experience there. if the rest of the nation had washington state's job growth numbers over the last 20 years, our economy would be even better off, and so this, this hypothesis has been debunked with regularity. here's what i hear most frequently from businesses, what do you need most to expand your business? the most frequent answer is customers. and 70% of gdp growth is consumption.
3:06 pm
when you're making $7.25 an hour, you can't consume anything because you don't have money in your pocket. that's why henry ford doubled the wages of people on the assembly line. >> i completely get that. >> you need to do that. liz: he did do that, and people go back to the history and data point, but you now have businesses who are, i guess, tripped up by a lot of regulations. i guess that would help. you've got to tell us what is holding these companies back, aside from, oh, my customer doesn't make as much, we have seen anemic job wage growth, but also this participation rate, secretary, is dismal. >> well, let's look at that. six months ago i had identical conversations when the labor force participation rate went down by the identical amount, and they said it's on a cataclysmic slide downward, and look where we were last month? we went up to 63%. we went down this month, but
3:07 pm
here's why i have continuing optimistic, because we continue to see tightening labor markets. we have annualized wage growth in 2016 of 3.2%. that's better than last year, not where we want it to be, and then you look at not only the job numbers, and by the way, last year was second best year, and we had 2.7 million jobs created, and there were three months under 160,000. you and i have spoken about one month doesn't make a trend. liz: okay, but i just want to point out, we did have the downward revisements of march and february. >> we'll have upward revisions ahead. i think you have to look at trend data. over the last six months, we've had 220,000 jobs on average. last year three out of 12 months that were 160 or less. every time i would come on and people would say the sky is going to fall because we had one month below expectations.
3:08 pm
here's a data point that unfortunately people don't talk about. you look at not only the number of jobs being created now, liz, but who's getting them? and that is very heartening to me. because the percentage of long-term unemployed. long-term unemployed as the percentage of the overall unemployment rate is the lowest it's been in seven years. and two-thirds of the reduction, roughly in the unemployment rate in the last year has been from the ranks of the long-term unemployed. what does that tell you? employers are seeing tight labor markets. looking in places that they didn't look before. they frankly should have looked before but didn't, and they are now. liz: but there's a change. >> that's very heartening because that tells me that labor markets are tightening. that gives leverage for workers and that means we will continue to move in the right direction. liz: i have to ask you, only because the twitter-verse is heating up, mr. secretary.
3:09 pm
by you seeing a job change, your name is floated as possible running mate suggestion for hillary clinton if she does get the nomination. if asked, would you take it as vice president? >> i have not spoken to anybody about that, and you know what i deal in? i deal in the reality that i have 259 days until the weekend. i'm not counting the days, i want to make every day count. and all the questions about the job numbers are very important questions, and i want to make sure every single day i have left in this job, i'm working my tail off to make sure everybody who wants a job can have a good job that pays a decent wage. liz: it's a nice residence. the vp residence is nice, i hear. you never know, mr. secretary. thank you so much. >> thank you, have a great day. always good to be with you, liz. liz: nice to have you, secretary of labor, tom perez. we need to head to our neighbor to the north where the situation is still very dire in alberta, canada. this folks, is being described
3:10 pm
as a war zone, there are 49 wildfires burning in the province. the first convoy of remaining evacuees as helicopters hovered overhead. we're talking about -- look at that sky. look at that sky. talking about 1400 vehicles jammed with people fleeing the fires, running for their lives. a total of 88,000 people forced to flee. we've talked about the human issue here. jeff flock is joining us from the cme with the latest on the fires and impact on oil. jeff? >> reporter: no human issue for me, oil in the pits behind me. you'd think with a million barrels of canadian tar sands oil off-line, you would have had a bigger bump. we got as high as over $45 when the estimate of how of production is off came out. it increased estimation about that. but then you know, recovered,
3:11 pm
it dropped back down, it's because there is such a huge glut out there. now you know, a million barrels a day, that's almost half or maybe half of all canadian tar sands production, that's pretty significant. about 2.4% of canadian gdp by the way. but a lot of profit takers that came in on this. when they look at the pictures, they said wow, this is huge, 210,000 acres. the fact is, though, the oil infrastructure is not imperled. this is people that can't go to work. pipelines shut down, not that they're burned up or the infrastructure is destroyed. it's not in the path of it. theoretically this could come back online quickly, not as big of a hit as it looks like it could be when you see the dramatic pictures. liz: and i'm really looking at brent, brent appears to be on track for biggest weekly loss, interestingly enough in four months. certainly not helping, a diminish the fly factoror
3:12 pm
psychology of bringing the supply up. so far we don't hear of any real casualties, which is a good news, there is a picture for brent, up two-thirds of a percent. we need to get you right now baltimore. there have been three fatal shootings. the breaking news is that the manhunt for the suspect is over. authorities report that the suspect was involved in three shootings in washington, d.c. the suspect is now in custody. here's the picture. so you can see that he's wearing what appears to be a beige shirt. these pictures are of the suspect in handcuffs. police announced the 62-year-old was taken into custody without incident. ordeal happens to be employee of the federal protective service. he was put on administrative leave duties after a protective order was issued against him. the first shooting occurred yesterday at a high school. the second occurred in a mall
3:13 pm
parking lot this morning and the third happened about 30 minutes later at a nearby shopping center. right now the good news is the suspect is in custody. closing bell, we are about 48 minutes away. the dow up nearly 70 points here. listen to this -- . liz: and there she goes, elon musk falcon 9 rocket launches another successful mission. did spacex stick the landing? remember these are reusable rockets! they come back! did it land? does the success mean he's one step closer to promise of a mission to mars? and donald trump in the heart of coal country attacking hillary clinton. look, he's good at that. but our political panel whether the presumptive nominee will be good at something more important right now, uniting the republican party. more "countdown" on the way.
3:14 pm
3:15 pm
3:16 pm
3:17 pm
. liz: spacex successfully launched a japanese communication satellite into orbit today via its unmanned falcon 9 rocket. again, this is a david and goliath story.
3:18 pm
while lockheed martin launching things for many, many years. for the second month in a row, yes, the company was able to land its first-stage rocket booster on a floating barge in the atlantic ocean off florida's coast, in the dark. look at that. there it goes. in the dark, and on top of it, these things are supposed to be reusable which will make them less expensive. fascinating. we were the first business network years ago to get an upclose look at billionaire elon musk's rocket lab long before he announced to send a mission to mars by 2018. yeah, that was us in 2008. we were not even a year old at fox business, and spacex was a young one, too. there it. is this week out at berkshire hathaway shareholders meeting, i asked about elon musk's vision, if it were safe would these two guys visit mars?
3:19 pm
you have to hear what they say on tonight's claman on call. you can see the full interview, we're pushing for 50,000 followers and "like" our facebook page. all of it right there. we've got break political news right this second. former vice president dick cheney says he will support donald trump as the republican nominee. this is interesting because of course, dick cheney served with the bushes and the bushes said they're going to sit this one out. they will not be endorsing donald trump. as the speaker of the house invites the presumptive nominee to a capitol hill meeting, questions are swirls whether the chasm or the rift between the two or maybe a space between the republican party and donald trump will be joined. i'm joined by john hart, editor in chief of opportunity leaves and a democratic strategist. john, this is your team here. what do you make, and does this give a dick cheney endorsement does this give lift any more
3:20 pm
than donald trump needs? maybe he doesn't need it at this point? >> does provide a little lift. the more significant statement is obviously what paul ryan said, and ryan said there is a difference between someone being a nominee and the standard bearer and leader of the party, and ryan said trump has not earned that status as a standard bearer in the tradition of ronald reagan and jack kemp and others. liz: made that clear. didn't ryan make that clear? >> exactly. >> when trump says i want to meet before we go our separate ways, that does not send a very good signal trump is willing to do that work. what's going to happen over the next weeks and months, paul ryan and the house gop want a mandate for change, they're going to run on the mandate, if that ends up providing a time rebuttal to donald trump and hillary clinton, i think paul ryan is okay with that, and frankly that will be good for the republican party to see these two contrasts of how you really help people who are hurting in this country.
3:21 pm
liz: let me jump in here, craig, donald trump has been very clear, he says maybe i'm not on board with you, paul ryan. i'm on board with the american people and that resonated with voters about donald trump. looking from the democratic side, craig, tell me how this affects hillary clinton who is slightly distracted by the fact that huma abedin, her longtime partner/assistant at secretary of state has been questioned by the fbi. >> i think trump begins with a t and a capital t for toxic. i don't think it matters at all what happens with huma and others regarding the e-mail situation, trump is completely unacceptable. the republican party is going to have a very difficult time uniting, and in terms of the e-mail issue, for a year we've been hearing about it, and nobody has demonstrated any harm whatsoever to the national security.
3:22 pm
we have trump who shouldn't be trusted with america's nuclear arsenal, who cannot be trusted on international issues, and i think he's going to further divide the republican party and is going to be one of the most unpopular nominees in history. liz: well, the party may be divided but he's certainly popular with a swath of voters. for example, nebraska, he's about to be in a rally in two hours from now in nebraska. the nebraska primary is on tuesday. had an opportunity to speak with governor ricketts of nebraska. if anyone should be conflicted, it's him. donald trump went head-to-head with his parents, joe and marlene ricketts, they f td ameritrade. there is coalescing on behalf of the party, i asked pete ricketts what he's going to do as governor of nebraska. listen. >> donald trump had talked to your parents, joe and marlene
3:23 pm
ricketts and said negative things about your family in response. could you still, if he's the nominee, vote for him? >> yeah, the republican party stands for ideals about increasing opportunity. i will support the nominee because we're looking to really unleash that full potential in america. that's what the republican ideals are about. that's why whoever our nominee is we're going to get behind that person and take the white house. liz: this is news, even if it's donald trump, you -- >> i'm going to be behind the nominee. liz: john, if governor ricketts can come around, don't you expect that most republicans will? >> i don't think so. paul ryan certainly has reservations and a lot of investors and donors have a hard time giving money to someone who they feel doesn't represent the values of opportunity, and look, really the issue is donald trump's agenda is not designed to help the people that voted for him in this primary, and his agenda is thin, running as a jobs
3:24 pm
fair, he's somebody if you vote for me, there is a new job under your pillow, and no connection to reality or rootedness in the economic policies that are going to create jobs, create opportunity for people who have had their wages docked for 20 or 30 years. liz: craig, you guys can just sit back. john is a conservative and he's speaking this way. >> i don't think anybody should ever sit back or take any election for granted. liz: good point. >> however, with donald trump, we have somebody who says that wages in this country are too high. we have somebody who's made terrible comments about women, about hispanics, just about everybody. not surprising his first reflex was to attack paul ryan when paul ryan made what i consider to be a pretty responsible statement. liz: we've got to go. thank you for weighing in. john craig, lovely to have you. be sure to catch maria bartiromo's interview with donald trump monday, "mornings with maria," airs weekdays at 6:00 a.m. eastern. the dow is climbing, up 71
3:25 pm
points with the closing bell about 35 1/2 minutes away. iron man versus hawkeye, black widow versus scarlet witch. captain america civil war looking for a blockbuster of opening weekend as it hits u.s. theaters and it's kind of already there. what's bigger on the silver screen than superheroes? something much tinier, perhaps? imax ceo rich gelfond in a fox business exclusive on the one genre topping all others and who's winning the global battle at the box office? hi, rich, stand by! more "countdown" on the way. here's the plan. you're a financial company that cares, but your logo is old and a little pointy. so you evolve. you simplify. you haven't changed. you still help people live their best lives. and finally your new logo is ready, and you decide the perfect time to show the world is right... now.
3:26 pm
when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. . . layed backache or muscle ach. to avoid long-term injury,ach. get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card. mary buys a little lamb. one of millions of orders on this company's servers. accessible by thousands of suppliers and employees globally. but with cyber threats on the rise, mary's data could be under attack.
3:27 pm
with the help of the at&t network, a network that senses and mitigates cyber threats, their critical data is safer than ever. giving them the agility to be open & secure. because no one knows & like at&t.
3:28 pm
3:29 pm
liz: you know we like to call "countdown to the closing bell" #team captain america. our viewers better fasten their seatbelts, marvel cinematic universe coming out with rockets blazing, "captain america: civil war," the blockbuster brought in 25 million from last
3:30 pm
night's preview. it nabbed a significant 30.6 million opening day in china, making it the fourth largest opening day ever in china for an american movie. someone who knows a little something about movies and doing business in china. imax ceo. i saw movie at imax theater. it is great. what do you think it will do? >> not only a dangerous game from business point of view and personal point of view guessing movie openings. i look at age of ultron, the last avengers movie. even though it is called captain america it is avengessers-like movie. has tons characters. friends fighting friends. friends fighting enemies. that is the neighborhood. i think is 90. if you draw a circle around that, you have some idea what it will do -- 190.
3:31 pm
liz: my son loved it, superheroes fighting each other with little bit of humor. took kind of a long time to get to the big fight. i wonder if that will affect tickle sales at some point? >> i don't this so. reviews were phenomenally big, on rotten tomatoes, 92 out of 100. in europe, this is second weekend. it open adweek earlier in territories. you look at drop, it was very small for superhero movie. word of mouth is good. for people who see this, 20 years old, the more you get to see the better unlike people like us with shorter attention spans. i think buildup is really good. liz: i wonder how you say "iron man" in french. i'm glad you brought up internationally. big blockbusters would be super popular but there is another genre apparently international audience wants to look at. >> family movies.
3:32 pm
it is surprising to me, when we decided to do "zootopia" and decided to do jungle book, it was a little bit of a gamble for us. our sweet spot more like "civil war," more family audiences. increasingly internationally the family movies doing surprisingly well. this may be the first year, four movies got to $300 million before summer even started. two of those movie, jungle book, and "zootopia" are family movies. liz: that is news to me. may be the first time you've seen the trend where big chunk of it happens to be fuzz did i creatures like "zootopia," do you call that animated? >> i is cgi because so high quality. liz: that is fascinating. >> as you said as the box office continues to shift internationally, like china you have quotas. you can't necessarily get the films in. there is pressure to find family
3:33 pm
films that pass slew the censors in china and appeal to audiences without respect to cult you are it. some comedies are more culture specific but some cut through it. liz: i ask about movie coming in august, "suicide squad"? what do you think it will do? john if you want to get into guessing game. >> i can tell you that the trailer is insane in a good way. liz: that is "finding dory," not "suicide squad." we can dump out of that one. >> "suicide squad" the characters are really interesting. i feel good about it. i think it will be one of the surprise hits of summer. liz: i called it ""con air"," only bad guys are good guys. they release criminals to solve a problem. terrorists or isis? >> they release some really nutty, he can sent trick criminals to help save the
3:34 pm
world. i guess they have to save themselves and the world but really fun. it looks fun. liz: great to see you rich, rich gelfond, fox business exclusive. >> thanks. >> looking at big board. lots of green on the screen. how will this one end? we're 27 minutes away. don't move. but not every insurance company understands the life behind it. those who have served our nation. have earned the very best service in return. ♪ usaa. we know what it means to serve. get an auto insurance quote and see why 92% of our members plan to stay for life.
3:35 pm
3:36 pm
♪ >> i'm ashley webster on floor of the new york stock exchange with your fox business brief where major markets are edging ever so slightly higher. s&p up .2 of a percent. same store nasdaq. dow off 57 points. as for web site everyone -- yelp up 22% after quarterly profit beak expectations. at least eight brokerages raising price targets on the stock. jcpenney not having such a great day.
3:37 pm
the stock is down 7%. the "new york post" says the department store is taking drastic steps to cut costs. those reportedly include payroll cutting and freezing of employee overtime. penney's reports quarterly earnings may 14th. fireeye, not doing so well the cybersecurity company. that is more "countdown to the closing bell" straight ahead.
3:38 pm
3:39 pm
liz: breaking news. with coal jobs getting crushed in west virginia and the state holding its primary on tuesday we now have remaining presidential candidates hitting the campaign trail to work very hard to appeal to voters in western virginia, west virginia, rather. many whom relied on coal for work and for jobs. look at this, we have 11,200 coal mining jobs in the u.s. have been lost in the last year alone. west virginia chamber of commerce president steve roberts
3:40 pm
tells us how west virginia should deal with coal's decline and how you guys are dealing with coal's decline. can't be a surprise to you that the coal business is shrinking, sir. let's talk about this a little bit. >> well, liz, thank you for having me on. we're doing lots of things in west virginia to diversify our economy. we are an energy-producing and creating state. we know about energy exploration. we have the technology here to find and produce and sell natural gas and coal. and our national energy markets and international energy markets are not where they need to be. and in west virginia. we have a terrific amount of expertise. we have many so of the finest energy resources in the world. we're eager to help world enjoy resources we hav west virginia. liz: but with all due respect the world, perhaps even the obama administration, saying you know what?
3:41 pm
we need to move on from that. i can disagree with that. you can disagree with that but it can not be a surprise. you keep using the word energy. let's go back to what you said first which was diverse sy. tell us what else, west virginia, i'm sorry, has to offer beyond coal? >> well, liz, let me say just for a moment that in our country approximately a third of our electricity is produced by coal still today. and approximately a third of our electricity is produced by natural gas. so those are two very important components of our national energy mix. but diversification is also important and historically, west virginia has been a center of manufacturing. partly because we have low-cost energy and believe me, we can give you all of the energy you want. we can supply an employer with all of the water, all of the electricity, all of the natural gas and all of the natural resources that any employer
3:42 pm
could possibly want. we have a workforce that has a terrific reputation for providing an honest day's work for honest day's pay. in fact west virginia workers are number unin the country for loyalty to their employer. those are all things that can help us diversify our economist. we're looking at things like manufacturing. some people might think that little old-fashioned. liz: manufacturing what? >> the truth is we still make things in our country. liz: what? >> we have high nickel alloy that is made in west virginia, and we can make a lot more of it. every jet plane phone by the united states military has a component made in west virginia. we have, and that is our high nickel alloy. we have terrific, modern aluminum manufacturing facilities in west virginia. but we also have a great deal of high-tech work going on in west virginia. we're happy to be home of amazon and other high-tech companies looking at us.
3:43 pm
liz: great. >> so we know this is the right place to be and a good location for employers around the world. liz: steve, before we go and we've got to go, usually chambers of commerce are in for everybody who is into commerce whether democrats or republicans. will your organization take a stand or are you endorsing anybody for president? >> we have not in our history taken a stand in the race for president. we would note that mrs. clinton has an energy program that is probably to the left of president obama's and i think that is resulting in reaction that she is getting in our state. liz: good to see you, steve. thank you so much. west virginia chamber about commerce chief steve roberts. >> thank you for having me. liz: anytime. anytime. i spent a lot of time in west virginia working in columbus and cleveland in my early days. thank you so much. good to see you. catch fox business's coverage of west virginia primary. that is tuesday, seven p.m. eastern time.
3:44 pm
the closing bell, we're about six 1/2 mints away -- 16 1/2 minutes away. presumptive nominee donald trump has a plan to reduce the national debt. will it work? it is hugely criticized by both sides of the aisle. charlie breaks it down. you both have a
3:45 pm
3:46 pm
perfect driving record. >>perfect. no tickets. no accidents... >>that is until one of you clips a food truck, ruining your perfect record. >>yup... now, you would think your insurance company would cut you some slack, right? >>no. your insurance rates go through the roof. your perfect record doesn't get you anything. >>anything. perfect! for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claim centers are available to assist you 24/7.
3:47 pm
for a free quote, call liberty mutual at switch to liberty mutual and you could save up to $509 call today at see car insurance in a whole new light. liberty mutual insurance.
3:48 pm
liz: closing bell 12 minutes away. you heard it yesterday, herbalife, from charlie gasparino, under attack from billionaire bill ackman in talks to settle the whether probe whether the company is pyramid scheme. the shares up 9.25%. donald trump continuing to make headlines over and over. might seek to reduce the
3:49 pm
$19 trillion national debt by persuading creditors to accept less in debt payments. would this essentially put the country into massive default? joining us now charlie gasparino. >> which do you want to do first? liz: quickly on herbalife then donald trump. >> don't get ahead of yourself on her a life. the stock loved our show. we previewedded. that is great to watch the closing bell with claman because when we come on we'll tell what you will happen, not what happened. liz: he always says something nice. >> all the time, shut up, big red. liz: i'm laughing. >> we teased what actually happened because i have sources in the government and among analysts basically said this what they're going to say. they said two things very key. advanced talks with the ftc. first time they ever addressed that, talks are in advantage -- advanced stage, likely settlement talks, reading
3:50 pm
between the lines. they will pay 200 million. here is where you don't get ahead of your sell. in there they talked about injunctive relief. there could be things that they have to agree to that could hurt future earnings. it might happen. they might have to litigate. as investor this marginally good news. positive for the stock. more than marginally but be careful. liz: stock up 9 1/2%. >> on down day,. liz: correct. >> this could tank the markets. people always saying what could donald seay that tanks the markets? this didn't tank it today. there are other reasons why markets were all over the place today, including that lousy not a great employment report but donald trump said this. remember, as a businessman, one of the things that he takes great pride in going to banks, particularly when he is in trouble renegotiating down his debt load, basically stiffing debt holders and banks. he thinks they are, they are, he thinks they're big boys they can take it. yes, that's true.
3:51 pm
he is proud of that. what he was basically saying in an interview he could do this broadly, nationally. as president of the united states he can go to our debt holders say, guess what? i'm not going to give you 100 cents on the dollar. you will take a haircut. liz: that would be unprecedented. >> let's be clear here. that would be tantamount to a default. the global markets would implode. it would destroy our credit rating. we wouldn't be able to borrow like we borrowed at terms. liz: why do you think he said that? knows what he is doing. he is businessman. >> i don't why he said it. what he said was so out there. when he says ted cruz's father may have been part of the jfk assassination, he said, most people like there goes donald again. when he said muslims were all over the place, cheering after 9/11, listen, people like me said, that did happen, there was some of that happened but he was exaggerating numbers. this, is so out there, from a business standpoint, that you start screwing around with the
3:52 pm
treasury debt, you are playing with fire for this country's economy. remember, the treasury, full, faith and credit of the united states, the united states is the sort of reserve currency of the world. you start playing with that, it is all over. forget about a banking crisis. talking about a national crisis. and would he -- what he is saying, what made it crazy, other countries do it. other countries like argentina, that are basket cases. liz: we don't want to follow that. >> i'm just saying when i worry about his economics this is going to come up. this was crazy. literally crazy. liz: charlie, thank you very much. charlie gasparino, with the closing bell about eight minutes away. the stocks you need to know next on "count down." i first want to wish all the moms happy on mother's day. real flash back friday. that is my mom june and me, when i was a little curly redheaded baby angel. so innocent there, from california. i think three or four.
3:53 pm
>> what happened? liz: what do you mean what happened? throw-back thursday. that is just a couple weeks ago in california. >> your mom looks amazing by the way. liz: she is amazing. >> hot lady. liz: i hope i can be as wonderful a mom actually. better. maybe i could be even bert. i will aim high. >> make america great again. liz: happy mother's day to all. happy mother's day, mom. every day you read headlines about businesses being hacked and intellectual property being stolen. that is cyber-crime. 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.
3:54 pm
we're building what we learn back into the cloud to make people and organizations safer. i'm in charge of it all. business expenses, so i've been snapping photos of my receipts and keeping track of them in quickbooks. now i'm on top of my expenses, and my bees. best 68,000 employees ever. that's how we own it.
3:55 pm
parnell pharmaceuticals, spotparn on nasdaq. parnell is focused on delivering innovative solutions to unmetanimal health needs in the 70 billion dollar pet market. we have core competences in drug discovery and development, regulatory filings, we have our own fda approved manufacturing facility and we have a significant commercial presence in 14 countries. zydax is our lead compound that we've been marketing in australia zydax affectively regenerates cartilage and can literally save lives. we had one of our sales executives tell us a story
3:56 pm
of seeing a dog in a clinic that just four weeks earlier had been brought in to be euthanized. the pet parents had to carry the dog in, it couldn't even walk. after just four injections of zydax the dog was bouncing around in the clinic. we will soon launch that drug in the united states and also europe. parnell pharmaceuticals, parn on nasdaq. for the full interview go online. liz: apple chief tim cook set to head to beijing to meet with high level government officials. meeting comes at crucial time. following word that cook would be making the trip later this month, apple shares falling for third day in a row, on track for the lowest close in nearly two years, as this number, you're looking at it, $92.54 down 3/4
3:57 pm
of% not great since the stock was high as 120 earlier this year. it has been a problematic time. or you could see it as a buying opportunity. despite today's disappointing april jobs report, mark lehman says the u.s. is still the place to invest and invest he does. he has got $2 billion in assets in management. jnp securities president mark lehman is here to tell you why. that number didn't spook you that we saw smaller than expected job growth in april? >> not headline number people wanted to see but there were underlying component that was decent. i think number will be revised up. wage growth was better than expected. it would slow down, some strikes out there that obviously hurt the energy sectors not doing well but this has been continued job growth albeit not what people wanted but still continuing. liz: would you scaffold in equities in portfolio and keep
3:58 pm
basic foundation in treasurys or other way around, or scaffold in treasurys and keep foundation in equities in your portfolio? >> i think a little bit of both. we'll have opportunity next couple years where equities get hit disproportionately. that is time to leg into those stocks we've been talking about. there is time when treasurys are more worried about rate rises that have not frankly happened as predicted. i think there is opportunities in both. we've had this very, very range-bound market over last couple years. i don't expect that to change anytime soon. liz: i should tell people the dow is up 72 points. we've been in the red for most of the day. the bulls came back out. where are you most bullish right now? >> i think there is opportunity in technology that we talked about. i think leaders of that market, specifically facebook and amazon had terrific first quarters. you had opportunity to leg in the stocks far cheaper a month or two ago than they are today. similar opportunity in the
3:59 pm
quarter. i think growth here domestically with winners. facebook, amazon and going well we've been talking about.k that. liz: both are up 50, 51% for the year. we came from buffett. he said please not buy things when there they are too expensive. are they too expensive right now? >> obviously we never want to contradict warren buffett but i think there is opportunities that each of those companies presented when there is worries about growth. amazon had worries about the fourth quarter. facebook has worries about what they're seeing in advertising growth. you get the opportunities rarely but when you do companies are growing market share. the share of wallet and time spending on these two companies is so great to accelerate i don't think you want to miss the stocks. liz: good friend mark lehman. jnp security. >> liz, most importantly happy mother's day to you and to my mom. liz: to your mom too. happy mother's day to all our
4:00 pm
viewers and their moms. s&p set to close when you stretch it out to the week, down for second week in a row. here is closing bell. [closing bell rings] david and medical list pick it up for "after the bell." melissa: stocks ending moderately higher after lousy report that indicating to investors that there will be no rate hike soon. i'm melissa francis. david: i'm david asman this is "after the bell." donald trump hitting campaign trail hard with rallies in nebraska and oregon. he is expected to take the stage in omaha next hour. trump needs 1237 delegates, why he is telling supporters stay home, save your vote. republican leaders like paul ryan remain reluctant to give him their full support. can trump unite the gop ahead of the convention? weak jobs report for month of april. smallest gain in seven months. guess what? president obama now pointing his finger at congress.

55 Views

info Stream Only

Uploaded by TV Archive on