tv Countdown to the Closing Bell With Liz Claman FOX Business May 12, 2016 3:00pm-4:01pm EDT
trish: speaker paul ryan is calling his sitdown with donald trump great! but he hasn't endorsed him just yet. why is he holding out? what's it going to take to get ryan's endorsement? does trump need it? go to my facebook page and let me know what you think, we can talk about it there. liz claman is still in vegas, are you winning at the poker tables, liz? liz: trying, blowing on the dice, trying to do everything i can. that question you posed, a lot of people are talking about here. in the meantime, wall street reversing course right now. the dow powering to the upside swing more than 130 points. the dow jones industrials up 50 points. we're seeing a little muscle after having been down more than 80. also at this hour, the republican party one baby step closer to unifying around donald trump as candidate for president of the united states, but was the speaker of the house's comment more trump about lukewarm than white hot? the billionaire businessman
wrapping up talks with house and senate republican leadership. lot of talk about that here. but trump and house speaker paul ryan describing the meeting as, quote, a positive step toward unification. okay, you can read not yet at unification, not all the trump news is coming out of d.c. plenty of trump pepper at the salt conference. that's the skybridge alternative conference in vegas. former house speaker john boehner departing from the current speaker and throwing full support to donald trump saying anyone who thinks donald trump can't win, quote, just watch. this is the trump fund-raising team uses this very conference to strategize and raise hundreds of millions of dollars for the presidential race. one of the house's most conservative congressman reacts to trump's day on capitol hill. congressman nick mulvaney here live along with ed rollins and julie roginsky, on all the a no
republican side but wait until you hear what bernie is saying about hillary. we're not talking all politics at the bellagio in las vegas. the winklevoss brothers cameron and tyler here to tell us how they're already disrupting bitcoin before it goes mainstream. and super bowl champion and former new york giants wide receiver has a brand-new mission to help you hire the best of the best. he's going to join us as well. less than an hour to the closing bell. we've got moves here in the market so let's start the "countdown." live at bellagio hotel in las vegas. watching a late-day turnaround so the dow had been down 86 points at the lows, but right now dow jones industrials moving back up. we had well 160-point swing earlier. we have the dow better by 48 points.
guess what isn't moving higher in the nasdaq, and apple's fall is paving the way for a new king in town, not talking about elvis. alphabet, the parent company of google now the biggest company in the nation. officially surpassing everybody, including apple in terms of market cap. apple shares falling to lowest level since 2014. both of the companies's shares are moving in opposite directions, apple down 2%, a new two year low, and alphabet up a third of a percent. everything seems to be -- using the word, sorry -- trumped by amazon. hitting a lifetime high again today. the third in a row for the retail giant as brick and mortar rivals struggle, that would be macy's and nordstrom is coming out with earnings after the bell. right now amazon higher by a percent. just yesterday and the day before we told you that analyst was calling for amazon at a thousand dollars a share.
not quite there just yet. case in point, while we've come to expect great things, this quarter the department store did not deliver for the first time in six quarters, citing unseasonably cool weather. blame the weather. right. they often do this, don't they? never a good sign for retailers when you blame the weather. shares down 9%. so we've got kohl's getting hit, ticker symbol kss. to politics and donald trump who went to washington today, though he didn't get an all-out firm endorsement from house speaker paul ryan, the results of his meeting with house and senate leaders is a few steps closer to unity than the beginning of the day. but trust us, it's not an outright thumbs-up here, speaker ryan addressing the press after the meeting with the presumptive nominee saying true unification of the party will take some time.
listen to what he said. >> the process of unifying the republican party, which just finished a primary about a week ago, perhaps one of the most divisive primaries in memory, takes some time. it's very important that we don't fake unifying, we don't pretend unification, that we truly and actually unify so we are full strength in the fall. i don't want us to have a fake unification process here. liz: okay, was that for unification in unified words? nick mulvaney is joining us now. thank you very much, representative, for joining us. do you think trump can bring unity to the gop or does it matter to somebody like you? >> more importantly, i don't think it matters much to the voters. i think it matters more to the media and more to the discussion. voters back home are going to make up their minds regardless who i endorse or paul ryan endorses or mitch mcconnell
endorses, from a media perspective, a narrative perspective, it is important we have unity to put the sort of nonpolicy issues aside and talk about ways to fix the country. it's important to put the unity things behind us and move on so we can talk about policy. liz: are you unified? are you wholeheartedly, not sort of lukewarm, but white hot endorsing donald trump? you, as the founder of the freedom caucus? you're laughing, i don't know if that's good or bad. >> i don't know white hot endorsement. i was a rand paul, if anybody is not white hot, it's rand paul. liz: i do recall. >> exactly. a time for us picking our ideal candidate has come and gone. i was a rand paul guy, other folks supported cruz and bush, it's trump or clinton and maybe sanders, most likely clinton. that's an easy choice for 99.9% of the republicans, we're getting on board for trump and trying to do everything we can to help him win.
i'm not sure endorsements count for much but for the extent they count, i'll be happy to help mr. trump win, if i can. liz: you are not going to attend the convention, have you changed your stance on that? >> everybody is making a big deal on who's going and not going, for rank-and-file members of congress like myself, i'd much rather work at home than sit in a hotel room and go to the convention floor. folks make a bigger deal about it than it needs to be. the grassroots people, those are the folks who want to go to cleveland. this is a big deal for them, and do a great job representing our party. i'm happy to let them go and be the face of the republican party for a week, and let me stay home and work some. liz: if you said i couldn't get a hotel room, people might believe you, representative. >> my office tells me not to say that i don't like cleveland that much. i'd rather be in south carolina. liz: don't say that!
for me, cleveland is sort of my second home, so the claws are out if you diss cleveland. i find it ironic, representative, that everybody thought it would be the republican convention in tense disarray, and maybe that's going to be more to the democrat side. >> listen, it goes deeper than that. six weeks ago, everybody was talking about whether or not the establishment was going to steal the nomination from cruz or from trump in cleveland, when really that's exactly what is going to happen with the democrats in philadelphia. you're looking at a situation where the superdelegates, not allocated based on the will of the people but the superdelegate is the establishment of the democrat party is the deciding factor of the outcome of the democratic candidate for president. how ironic is that? the democrats are going against the will of the voters much more so than the republicans. liz: well, do you think by the end, as we finish up here, that
paul ryan will wholeheartedly endorse the republican presumptive nominee, donald trump? >> i absolutely do. i think he's going about it right. those of us that know paul, he's a thoughtful, methodical, unassuming and humble guy and wants to make sure he knows what he's getting into before he endorses. i expect by the time the rubber meets the road the republican party is foursquare behind donald trump. liz: the cleveland browns are on the phone, they won't offer you tickets until you get the cleveland experience. >> they have enough to go around. and no, i didn't say that either. liz: hey! we're going to have fisticuffs here. thank you for joining us. >> thanks, liz. liz: congressman mick mulvaney. as the gop does slowly but surely rally around donald trump, the democratic race could be headed to it's not a contested convention, certainly real drama there. senator bernie sanders in south dakota today following a fresh
attack on his opponent hillary clinton saying nominating her, and this is his word, will be a disaster for the party and the nation. hillary clinton meanwhile back in new york meeting with hiv and aids activists. should she be worried about attacks from bernie or so far ahead she should slough it off. joining me julie roginsky along with ed rollins, for great america pac, an independent committee supporting donald trump. a disaster? sounds like bernie sanders has changed his tune and going after hillary. >> the opposite of constructive. he needs 86% of the remaining delegates to get the nomination. we know that's a virtually impossible task. at first i thought he staying into influence the platform. that is his right. he's brought a lot of good ideas to the democratic party. he should have a voice to influence the platform. but knowing he's not going to be the nominee, to lodge personal tashgs is incredibly
unconstructive, the opposite what he should be doing right now and makes it harder to come together come the convention. liz: ed, do you agree with that? or do you think that in his mind, bernie sanders has come so unbelievably far? >> he has come incredibly far. he basically has created a little revolution that people didn't anticipate, and has a lot of young voters who basically see thiss their first big sojourn of the game. i assume some of them will not show up and go to hillary in the end, but it's certainly a distraction she didn't expect and distracting her from getting on with challenging donald trump in the fall. liz: julie, you looked at challenges from the poll side, and i don't know if i'm a big believer in polls. they've been wrong so many times but right in certain areas. it looks like donald trump is gaining certainly on hillary.
he's not there yet in head-to-head matchups but two candidates with very high unlikables. what do you think happens? could they become neck-and-neck? >> look, these are two candidates opposite of beloved by the state of the country. don't look at national polls, 50 polls in 50 different states, i would agree with that. the problem here is that polls right now are so unhelpful and not a predicate of anything. in the polls we saw, quinnipiac came out with a poll shows them neck-and-neck in pennsylvania and ohio and florida. this time, eight years ago in 2008, you had john mccain beating barack obama in two of the three states, and you had mitt romney beating him in two of the three states four years ago, obama went onto win all three of the states both times. the polls are a waste of time. we like to talk about them but they're not a predicate of anything that happens in november. liz: well, ed, i've got to ask you about the situation with paul ryan, we had
representative mulvaney, he said there are two choices, he said it was hillary clinton and donald trump, he has no choice but to go with donald trump. he's going to unify behind him. do you think paul ryan will eventually -- give us a sense what's going on behind the scenes and how the sausage is made? why isn't paul ryan coming out right now? >> paul ryan has a different perspective where the country should go, and obviously, trump is not going to buy into his entitlement reform. trump has made it very clear he's not going to cut back on medicare or social security, and obviously, 70% of the republicans don't want to do that. so paul ryan who is a fiscal conservative and is in his infancy at speakership can't get a budget through the congress. it doesn't matter where he is. we shouldn't have a public fight. but at the end of the day, trump is going to have his own campaign, do whatever he's going to do to win this thing and the republicans will jump behind him and women will be
right there with them. liz: that's a big statement. we shall see. he has low numbers with women and minorities. julie, ed, thank you so much. guess what? we're about 43 minutes, 47 minutes away from the closing bell ringing, gains for the dow jones industrials. gopro hitting the wall today. the action camera maker falling to new all-time lows, dipping below, this hurts, $9 a share for the first time. folks, this was a momentum stock when it came out. investors are dumping the shares after dismal first quarter results last week. gopro down more than 90% from an all-time high of $98.47. that's gotta hurt, right now we're down 10 of the last 11 sessions. up next, bitcoin, supposed to be the next thing. in 2013 more than a thousand bucks. cybercurrency you couldn't live without.
but it's the internet of money moving so fast, that bitcoin may be passe and move over to make room for something else. you're not seeing double, we have cameron and tyler winklevoss, the twins with the plan to disrupt the currency market. it's working. they have breaking news on gemini, the bitcoin exchange. they're at the salt conference, they're up next on "countdown." there are two billion people who don't have access to basic banking, but that is changing. at temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet.
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. liz: live from the salt conference. you've got a lot of fast money, a lot of big hedge fund money talking about bitcoin, the currency known as the wild west of money grabbing attention with the hedge fund managers at salt. already, it's interesting, might be a thing of the past, not necessarily. take a look at bitcoin versus the u.s. dollar, trading in opposite directions, over two years, the u.s. dollar up 17.5% versus bitcoin up 2.6%. bitcoin is still alive, two of the biggest believers, the winklevoss brothers have gemini going about a year? >> six months or so. liz: six months? and it's basically what they would like for you all to believe a nasdaq for bitcoin, buying, selling and disrupting the global foreign exchange world. they say on "countdown to the
closing bell" in october this, watch. >> if you're going to europe for a vacation and you need euros, rather than getting ripped off in the exchange from the airport. >> exactly. are you going to put these guys? the ones in the airport. i need euros and i need pesos. >> or at least make it a fair playing field. liz: fast-forward to today, the winklevoss gemini bitcoin exchange trading at eterrium and we welcome the winklevoss brothers cameron and tyler. four of them in vegas. you're not quite there yet, tyler? >> not yet, not really competing with the kiosks, they are two currencies and we're the first exchange in the world that's licensed. we were approved by governor andrew cuomo last thursday in the state of new york. liz: to do what? what are you doing? aside from trading bitcoin on
gemini, a bitcoin exchange, you threw out the term ether, what is that? >> the token of the etherrium contract focused on disrupting contract law. we focused on ether trading on monday and second encrypter to gemini. liz: have you gotten people jumping on the exchange and trying to trade? >> people are knocking on the door, the volume has gone up dramatically in the last few days, only three days of trading, but ether books are climbing high and moving in the right direction. liz: talk about exactly what you anticipate in -- i'm going to throw out a year. bitcoin in 2013 hit a high of 1100 bucks. we can show what it's done since then. i believe in january 2015, it hit a low of $150 or so dollars and now trading at 400 or so. is it volatile here? >> it was in the early days, that was because the wild, wild
west, the regulatory uncertainty, with the advent of gemini exchanges, it brought more certainty to the market, and bitcoin i think over the past month has been less volatile than gold. >> yeah, the "wall street journal" had an article it was more stable than gold over the last 24 days, bitcoin is acting like a mature asset, liquidity and licensed operators, now like gemini, the first licensed operator where you can buy and sell bitcoin and ether where are co-op shuns on the two technologies, if you think bitcoin is going to disrupt gold and ether is going to disrupt contract law, it's really early days and these are the tokens and assets how to invest in the future. liz: sure would seem that the hedge fund world is interested but that the banking world might be threatened? is that a possibility? >> not so much. there are alternatives and i think bitcoin does such things,
the currency is here to stay, there is use for that. before there was license exchange like gemini, the hedge fund world couldn't invest in the tokens. this is the first opportunity. liz: convince me here and now, guys, i'm still the loser who has nickels and pennies and quarters in my wallet that one day i'm only using bitcoins. >> i think you'll be using digital currency. bitcoin will disrupt it. the u.s. dollar will still be controlled by the u.s. government but it will go onto its own chain by the government. you have accommodation of bitcoin, ether, devices, internet, billions of devices coming online, they will never exchange value with paypal, credit card or hch. suite of options will increase. credit cards, plastic, cash, will be gone, but bitcoin will be one piece of that larger
muscle and cryptocurrency is here to stay, we believe in the future, and gemini is the picks and shovels company of the future. you won't expect to buy your cup of coffee in gold, but you want to verify it's in the vault that it is. bitcoin is verified, that's one of the reasons why we think it's going to disrupt gold >> we wish you luck, i would be remiss if i let you go and don't ask about facebook. facebook was pegged as suppressing certain conservative views and maybe shoveling, speaking of shoveling, news that it felt was important versus what the users felt was important. where do you stand on free speech, having been at very beginning of facebook? >> free speech is obviously one of the most important instruments of our country. i don't know anything other than what i read. >> i think it comes down to the transparency and what you tell
your users you're doing. i'm not that close to the story so i don't know what the representations and expectations were, but if the expectations were it's going to be an algorithm not pushing a certain thing, i would see why people are disappointed but -- yeah. liz: yeah, that's a millennial way of saying i'm done talking. cameron, tyler, lovely to have you, thank you so much. >> thank you. liz: i am going to be moderating the panel with the winklevoss brothers in just about an hour. people are going to be piling in there. thanks to tyler and cameron. we'll be right back. 35 minutes before the closing bell ring. dow is up by 35 points. 39 points.
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the spit-shined shoes. here at the bellagio, the biggest salt conference ever. more than 2,000 people have come here. here's the area where we've got the ballroom earlier today. we had a bunch of speakers talking about things that mattered to this crowd. and i have to tell you one of the biggest events was last night. will smith, the big star, fresh prince of bel air, not to mention men in black. i had a really interesting conversation about his controversial movie "concussion" that came out about all the head injuries for nfl players, and i asked him, have you heard from the nfl, and will smith told me, he told me last night, he said, well, no, and for the first time ever, they did not invite me to the super bowl. i thought that was very interesting and he felt that was a reflection how they felt about the controversial movie. i asked him, look, if you knew yesterday what you knew today about the concussions and all of the issue, would you let your children play football? would you have played high
school football? and he said absolutely not. i ran into john boehner, former speaker of the house, i talked to him last night and asked about the ted cruz controversy. number one, he said he will absolutely support donald trump, that broke today at salt. but he told me last night when i asked him about calling cruz loose, i don't understand why that made news, i have literally called him that 11 times before stanford. suddenly someone heard it at stanford and started making a big deal out of it. just caught up with the former prime minister of greece, george papandreou, and with all the things happening, not necessarily molotov cocktails with the underfunded budgets and pensions, is illinois the next greece? and here's what george papandreou, the former prime minister of greece said. >> it's a european problem, it's a u.s. problem.
that's one we have to tackle. can illinois do it alone? no. but bringing in transparency, bringing in better governance. bringing in best practices of how you deal with this. liz: you were to warn illinois off from making a mistake that greece made, what would that be? what warning would you give illinois? >> i would say that the first is to try to bring in -- make sure your own citizens, the citizens of illinois participate in the decision-making and understand what the problems are. they should be part of the solution and not -- don't do things against them. may be difficult decisions, very difficult decisions have to be made. whatever the decisions are to be made, try to bring them in. liz: by the way, i also asked him about the huge flood of syrian immigrants coming through the greek islands, he comments on that, we talked to him whether greece will make july debt payment to the imf,
the international monetary fund, you can see the entire interview with the prime minister of greece, claman confidential on lizclaman.com. all the introducer lizclaman.com. if you go on my twitter feed, you will see that picture of me with will smith, you will see a whole bunch of great pictures, including the live selfie i did yesterday on "coast-to-coast" with robert wolf of 32 advisers. all that and more coming up. tomorrow, you must watch my coverage from salt. the former president of mexico, philip philippe calderon. you saw the video of alleged drug dealers scrambling over the wall. what does the president calderon have to say about that? we've got him live, here on fox business. and, of course, is now precisely the time, i know this
is scary, the brazilian president has been pulled off as president and impeachment hearings under way? is that the time to invest in brazil? what about russia, disconcerting situation going on there. mark mobius, the emerging market genius of templeton funds, you'll see his interview with me tomorrow. live from las vegas and the bellagio and the salt conference. we're adding pepper here on fox business.
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slate of hand to cover up budget problems. the impeachment trial could last as long as six months. and that dove tails appropriately to corruption as the word of the day in london at this hour. secretary of state john kerry at the international anti-corruption summit hosted by u.k. prime minister david cameron, kerry blew out with this one, he called corruption as much of an enemy as terrorism is. joining me now, former nato supreme allied commander and retired navy admiral james stavridis, is corruption as bad as terrorism? >> depends what country we're talking about, here in the united states where corruption is low level, terrorism is a bigger threat furse. if you go to nigeria or pakistan, corruption and terrorism sit side-by-side or china and india, corruption is the biggest challenge they face. liz: okay, we're talking about -- people hear him say the corruption is as bad as terrorism. they think corruption and
forcing businesses to pay a bribe is as bad as isis? maybe not, except when you look at tail effect of what happens with corruption. people can't get basic services, suddenly a vacuum which is quite easily filled by terrorists who promise something different. >> liz, that's exactly right. if you think about it this way, the long game, the long-term corruption is what will bring down a society. it creates terrorism, which is the tactical means that can break a society in realtime. so they're both very dangerous, you have to deal with terrorism with both hard power and soft power. the corruption piece is the soft power side. the law enforcement, the education, the building values. long-term project. liz: panama papers came out revealing all kinds of big world leaders funneling and hiding funds possibly. you have the new york state financial regulators investing in -- investigating shale companies that may be tied to goldman sachs.
would it surprise you if some of this thesed big u.s. banks and financials? >> i would be surprised if it led in a serious way to the big institutions. i think what we're going to see is high net worth individuals led down this path probably by individual and boutique and financial investors. >> is it a pandemic? especially when you look at brazil this hour. you have rousseff now on the verge of being impeached. there was a big senate vote yesterday. they deliberated for 20 hours. she's pulled off the presidency rolls here, she cannot be president as they decide whether or not to impeach her. is what she did basically relatable to corruption? >> absolutely is. what she is doing, allegedly, and we need to wait for the investigation to see what happens, but allegedly she has misused financial data to
reportray a narrative that was favorable politically which brought real viability to her political purposes. that's corruption. and any time you're bending the truth or going outside the lines of the law, that's corruption. it's important to note in brazil, liz, there's corruption from the street level, petty corruption, to mid-level bureaucracies and frankly from what we can see at the very top. liz: would you go to the olympics in brazil? >> i would not, and wouldn't advise my daughter who is 28, child bearing age, definitely not to go. i think the combination of zika, violence and overall situation that you're going to see unnoelgd brazil, big protests. i think it's going to be a very unstable games. liz: when you have the former naval commander say he wouldn't go because there are too many things whipping around, that's something. thank you for joining us. >> thank you, liz. >> the dow jones industrials holding onto gains of 30 points.
a navy pilot and super bowl champ turned wall street bigwig using his power to fight for a new cause. football legend and wall street pro phil mcconky says he's got your next brilliant hire. really? the gridiron legend joins me with that live next. we may be clearing the close but the countdown is going strong from the salt conference in las vegas. stay with us.
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one man has a solution, every time a big ceo is going to hire, they're going to be extremely picky about hiring, if the hiring picture isn't so strong. well, from helping the giants win a super bowl title to helping veterans find employment, he's got a unique solution to helping america's finest. former new york giant and president of academy securities phil mcconkey along with the reports of his demise greatly exaggerated, charlie gasparino, you're alive, not dead! who said you were dead? >> just to recap here, there was an e-mail that was sent out from this -- from a research shop that i've gone to the distant shores. so ridiculous. and i'm getting all these calls. liz: i can tell everybody he has a pulse. he has a pulse. >> this occurred while i was on the treadmill, so you know. a few people like me. people actually cared.
liz: phil mcconkey likes you and likes us. >> this is great. liz: people hiring now are so nervous, they don't want to pay benefits. if they bring somebody in, they want to be sure that person is spectacular, you've got people who are spectacular right now? >> a lot of people that are incredibly spectacular, i'm talking about the transitioning military veteran, our military today and all the young people, most of them that are making the transition join the military after we were attacked on 9/11, after the war started in afghanistan, after the war started in iraq. i joined the military after a war ended. i would like to think i'd be as brave as these young people to have done that, they have qualities and what they've done in the military to corporate america and the private sector. >> i love your firm and what you are trying to do. here's the thing that annoys, angers me. i know some people at the major wall street firms that want to do reachout to the military. military itself, the army, the navy, the marines, my dad was a marine.
the major military does not do a good job preparing these guys and women for the next step. why not? what's going on there? >> i'm not sure. it's incumbent upon them to help that transition. >> come on. >> i know that there are a lot of injured soldiers that come out and sailors and airmen, they do a nice job. listen, problems with the va, that needs to be fixed, need to get better but that transition, i think the private sector is doing a lot better job. >> phil, i know a lot of guys in the marines that led troops, team builders. perfect people for corporate america. they don't know how to translate that. i was talking to them. i had to translate that to them. you wouldn't think there would be a month to help you translate your skills jiled absolutely say if somebody brings in a vet, maybe there is finessing, that is with anybody where you need somebody to train a little bit to get the skills up and running. talk about the benefits.
they are highly motivated. usually people trained in the military only need to be told something once to get it right. >> when you talk about an organization, a company, fox, fox business, fox news, you want high-quality people. in the military, we talk about bringing the best of the military culture to our company academy securities and to our customers, talking about honesty, integrity, loyalty. >> i agree. >> service, something called service. >> it will be nice if the armed services gave these kid ace month on how to translate their military skills to the private sector. liz: phil, great to have you, thank you so much. >> thank you so much. what i want to do to you guys because i know what great advocates you are of the military, i want to give you something when we finish up here, but you tell me. liz: is it the ring? i want the super bowl ring. >> you want the super bowl ring? you take that also, also the challenge coin. in the military, different units have their own individual
coins. >> i can see that? >> on one side we have all the branches of the service, on the other side is the pre-9/11 skyline of new york city. it's important us to because most of our teammates joined the military because of that. >> we will definitely honor that. >> how do you like the pinky ring. liz: great to have you, phil mcconkey, thank you so much, and thank you for this. means a lot. charlie, always a pleasure, alive and kicking. the dow posting gains, let them start schmoozing, we'll be back with liz anne saunders of charles schwab next.
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republican nominee is. political uncertain think, tense meets on capitol hill and battles between bernie and hilly could be reason we're seeing volatility in the stock market. charles schwab, liz ann sonders. >> i can't take personal credit for 2 1/2 trillion. thank you, thank you. liz: your premise, that political uncertainty causes market volatility or starting to. >> i think it will be a factor, yes. obviously unique election in terms of what is has wrought. i think we're now at the point very, very two presumptive nominees. we get a sense what policies are under debate between now and november. investors can start to attempt to figure out what it means for markets. there are a lot of factors behind volatility. fed uncertainty but i think election season is creeping in
as a factor. liz: don't you find it fascinating it, stuart varney was doing it brilliant, wait, waiting outside the republican national committee meetings in washington, d.c. it has to weigh on investors when there is uncertainly about political landscape. is that hard to not allow those affect how you invest. >> one of my mantras panic is not a strategy. that is always a cautionary tale. the problem is, there is such a rash of uncertainty already as it relates to where we are in the economic cycle, fed policy, what it means to come off the zero bound and unwind all these extraordinary measures. so you're adding into the mix another component of it. if ending was hunky-dory and silly season of the election cycle i think it would be a little bit different. liz: do you like the u.s. or emerging markets where there is
risk? brazil news the president is not in the chair at least at the moment? russia, 20 million in poverty but those may be attractive invests because they're cheap? >> we have neutral rating on both u.s. equities and international equities inclusion sieve of emerging markets which is not a bearish position but represents a stay at your normal long-term strategic allocation. that will vary of course depending whether our on conservative end of the spectrum or aggressive end of the spectrum. with volatility there is opportunity to rebalance. with that in mind, what i have been telling our investors as it relates to u.s. equity, don't get greedy. volatility gives you opportunity to rebalance back down towards the normal weight. that is the same advice on emerging market side. liz: great to see you. don't get greed did i. liz ann sonders of charles schwab. market just turned negative.
swings have been pretty interesting today. the bears win this one at moment. s&p and nasdaq lower. here is the closing bell. [closing bell rings] david and melissa, we have earnings on tap. david: stocks trying to make it above the flat line. melissa: maybe. david: looks down about 13, 14 points. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we'll take you back to the markets. here what is happening at this hour. donald trump on way back to the big apple after day of meeting with top republican leaders on capitol hill. the goal? to begin to bridge the gap on key issues like trade and immigration and subsidies. while the gop tries to come together, the risk continues to grow on the democratic side. hillary clinton speaking now in brooklyn while bernie sanders set to take the stage in south dakota. his campaign manager now saying nominatingiv