tv Countdown to the Closing Bell With Liz Claman FOX Business May 27, 2016 3:00pm-4:01pm EDT
we are very lucky to have you. we are very lucky that you make the sacrifices you do every day to keep us all safe. you are all truly extraordinary. happy memorial day, everyone. i hope you have a wonderful weekend. i'll see you right back here 2:00 p.m. sharp. in the meantime, liz is going to get you into the close. liz: isn't that the truth, trish. people have their barbecues and fun, but we've got to remember the major sacrifices people have made. thanks to our troops. have a good one, trish. >> thank you. liz: lover boy certainly had it right. everyone is working for the weekend. memorial day weekend almost here but some on wall street may have skipped out early. markets seem light trading as the dow jones industrial average set to break its four-week losing streak. they're going to miss all the fun. the dow is trading in a razor thin margin right now up 21 points. you've got to stay through this one because this is a very big news-driven day. know what you are up against. aaa is expecting this to be the second highest memorial day travel volume on record.
aaa projecting more than 38 million americans will hit the road this weekend. and it's not just by car. the airports are jammed. but wait until you see how the tsa is doing, keeping lines moving while also keeping the traveling public safe. jeff flock with the breaking news. the surprising live report from chicago's midway airport. on the campaign trail, moments ago donald trump said he's keeping the debate talk alive. saying in fresno he badly wants to debate bernie sanders. the vermont senator also in the golden state. he's agreeing with donald trump but the establishment democrats, not so much. we've got the developing news on this one. plus, president obama's historic visit to hiroshima. a deadly mutant bug made it and hiroshima. stay with me.
let's start the countdown. ♪ ♪ . liz: breaking news. we've got more bread crumbs scattered for fed watchers. fed chair janet yellen signaling we could see a rate hike in the coming months. here's what happened. about 1:35 p.m. eastern time janet yellen had a lot of traders on her toes and investors when she announced she thinks it's appropriate to cautiously raise rates soon. the question we all ask is when? now, as you can see this intraday picture. the dow was up about 29, 30 points when she started speaking. it drop rather quickly and then you can see it has certainly recovered. but that was the point. where traders and investors saying wait. is it june? july, december? volume also seeing a spike on the news. but just a quickly, it dropped back to the levels and then even lower than was before she began talking. it is important to note, folks, that we are still trading in the narrowest range
in nearly two years as investors get ready to head to the beach, do a stay vacation, may the country side. but let's do some movers, big lots making big moves, the retailer reporting its ninth straight rise in the quarter. shares moving higher by 13 points. costco did not have that same type of report. derange see gains in its same store sales. and big lots looking pretty good. and this breaking in the last hour and a half. verizon has reached a new deal with striking union workers. 40,000 workers have been on the picture lines since april causing customers to complain of all kinds of things, including lapses in service. okay. so the workers and management have come to a deal. a four-year contract. the good news is workers are expected to be back on the job next week. verizon moving higher by just under a percent. now to this news, millions of you are rushing to the road to hit one of the busiest memorial day weekend in 11 years. aaa says gasoline prices have
increased every single day in the last 12 days. but 2016 is still going to have -- this is the good news and perspective -- the latest memorial day weekend fuel prices since 2005. regular gasoline prices down 42% from this time last year. i know some of you are paying more depending on the state you live in. but still, 2:31 a gallon for regular. not bad. now, what about the weather? it will be a mixed picture across the country with the mid-east starting off warm in the 80s. but thunderstorms from a tropical storm that is expected to hit the east coast by monday. thunderstorms will be a daily concern across the central and western states this weekend while dry weather returns to the upper midwest, southwest, and west coast by the end of the weekend. but taking to the skies this weekend, all of you have been warned about longer lines to get through security at the airports. jeff flock is joining us from midway airport in chicago with the latest. but, jeff, i've actually gotten some reports to the
contrary from both laguardia and atlanta. could it be that tsa got its act together for the weekend? >> i think that is your headline today, liz. and they were prepared for the worst, and there are a lot of people. but, look, they even hide a band to try to soothe people's nerves because they thought there was going to be such long lines. in fact, look at what they had set up here. they had all of these set up because they thought the lines would go this long. let me show you the reality. take a look at this. there are no lines. you walk straight through and here's one of the reasons they have got these canine teams. some people laugh and say, oh, a couple of canine teams. what's the difference? well, when you walk past that dog right there, lovely dog. you can then divert into the priority precheck line and that's what they've been doing. diverting those people once they've been sniffed, then they are good to go into the priority line. so that has speeded things through here at o'hare -- or here at midway. reports from across the city same sort of thing going on.
and as you report, liz, all across the country. tsa got its act together today.. will this last for the rest of the summer? at this point we don't know. but today, they seem to have gotten it right? >> everybody was leaving hours early thinking it was horrible and now stuck at the airport eating skittles. >> i'm here three hours early. what do you want me to do? i'm standing early. liz: as i say. better early than late. jeff, thank you. and get the band going again. that guy's just sitting there. >> they were taking a break. always the way it goes. . liz: okay. jeff flock live in midway in chicago. and if you thought it was going to be a quiet newsday for the markets, think again. federal reserve janet yellen sending a bombshell message as she accepted a medal at harvard university earlier today. listen. >> i've said this in the past. for the fed to gradually and cautiously increase our overnight interest rate over
time. and probably in the coming months such a move would be appropriate. liz: the coming months? which months, janet? june and july are in play right now. so we thought let's bring in michael cox, former dallas if he had senior vice president because he correctly called last december's quarter rate point handwriting. we got you back along with the traders in the new york stock exchange and the cme group. let me get to the markets because i want people to really get the information first before they get to you, michael. ben willis, we did see the markets drop on what she said. and then they've moderated their find. >> well, i think you point out. the fact of the matter is she was not as hawkish as she could have been and that was some of the disappointment with some of the traders that were here that were waiting to see if she had any comment. the fact of the matter is there's still a hawkish stance. they're going to raise rates. the only thing she didn't give us is next month. as you say june or july.
liz: i find this fascinating. and, folks, for those of you don't understand doveish hawkish, dove means old off, hawkish means you want to get in there and see rates. >> hawkish in the coming months but not hawkish enough. and that's why you saw a much more dramatic reaction quite frankly on the yield curve than you did in the equity markets. but as i said earlier with adam, rising rates will raise equities. liz: well, yeah, but let me just jump in here. on the screen, we have the fed funds future. the bet where the bet on the probability. july is at 60%. >> up from 14%. liz: up from 14%. so let me jump to scott at the cme. this sure looks like july might be the moment. >> well, i mean i really find it odd that she said what she said. what if we get bad data between now and then. now she has to raise rates regardless of the data and that's the key shift here. we've moved from we're going to raise rates to be dead and
dependent to we're going to raise rates as long as it doesn't get any worse. that's what they've made as of late and i think it's very dangerous. if the data comes through poor, and it's still coming through poor. we had new home sales, but at the end of the day everything else besides that has been bad. look at our gdp today. liz: well, goods surged and pending home sales best since 2006. it's not all bad here. >> yeah, but those numbers used to be a lot better number one. number two, if we're at 5% unemployment, how come we can't get wage inflation. we were at 0 interest rate for seven years and can't get inflation. something is obviously broken. so i'm really reticent to say -- if the data is worse, where is that going to leave us? . liz: to michael cox, where does that leave us and you were correct for calling the quarter point for december. will we see one in june or july, michael? >> you know, i guess i see it differently than your previous guest. first of all, don't forget that the fed was talking about raising rates in june.
now her language today says in the coming months. also she said she predicated on a stronger economy and used the words fed should. well, yes, they should but that doesn't mean they will. that has happened all along the fed put off the rate increase. in my opinion, it's because the stock market has the fed snookered. every time the fed even talks about interest rate increases if the market believes that they're not just crying wolf again, then the market instantly goes down. it happened about a month ago, and they talked about the june increase market dropped 250 points. i think -- you know, the market just doesn't believe the fed is going to do it anymore until they do. liz: and until they believe of it, could i get you on this, michael? july possibly? >> possibly july. very doubtful for june. but, look, as time goes on, you're getting closer and closer to the election. would you want to be running the fed at a time when you don't know who the next president and what they think about the fed and the fed's independence? . liz: that has been the question. will we even see one before the november elections?
gentlemen, have a lovely and safe hollywood. michael cox, ben wilson, and ben. we're all working before the monday holiday, and i'm not stopping. hang out with me tonight. i'm going to be joining the wall street week crew tonight at 8:00 p.m. eastern. charlie gasparino and i join host anthony scaramucci and gary. plus newburgher managing director and health advisor weighs in on the market hangover from the 2008 financial crisis. listen. >> it's a scar not a wound. >> yeah. exactly. >> right? >> it really is still there. >> yeah. >> when you see the volatility, which we had in january, we had almost 65% of the trading days that market moved plus or minus 1%. and when you see that visibly on all the shows throughout the day, clients, investors get concerned, especially when they invest irreplaceable wealth. >> . liz: perspective, though? can we really use the word hangover? take a look at the chart of the nasdaq.
we are up 182% since the last day of trading before memorial day weekend in 2009. so since the lows of the market, we're up significantly here. watch wall street week tonight 8:00 p.m. eastern right here on the fox business network. and then, do stick around for stossel at 9:00 p.m. john will be immediately following us on wall street week. closing bell 48 minutes away. the dow is up 21 points. a historic moment today as an american president visits hiroshima since the first time used the atomic bomb since world war ii. but president obama protect the world from another nuclear event work? former cia director and proliferation expert ambassador james on president obama's legacy, donald trump's push for more countries to acquire nuclear weapons and more. countdown just getting started. come on. you can pack your bags as you're watching us. stay with us recently, a 1954 mercedes-benz grand prix
u.s. dropped an atomic bomb on the city. the president spoke at the ceremony saying this about pursuing a world without nuclear weapons. >> we may not be able to eliminate man's capacity to do evil. so nations and the alliances that we formed must possess the means to defend ourselves. but among those nations like my own that hold nuclear stockpiles, we must have the encourage to escape the logic of fear. and pursue a world without them. liz: is that possible? joining me now former cia director but also advisor on both the strategic arms limitation and reduction talks ambassador james. great to have you on this very day, sir. >> good to be with you. liz: what are your thoughts of that statement just in time when tension is rising, can you start dreaming of a nuclear free world? >> you can always dream. but dreams are not policies.
and hope is not a policy. it's just a warm, happy thought. that peace that we've had in northeast asia with japan now being a successful and prosperous and democratic country and south korea being the same depends very heavily on american military power that has deterred china and north korea now for many decades. and that doesn't happen without our having matched them or better. and having nuclear weapons ourselves. so the hopes to get away from them is a nice hope. there are lots of hopes. world peace without conflict is a good hope to -- liz: nobody is cutting back on weapons when you have north korea testing all kinds of missiles and claimed h bombs. iran is testing missiles as well. but now you've got donald trump, the candidate, suggesting that more countries should start to nuke up. and he even specifically said south korea and japan. is that the answer? >> well, i suppose if more
countries do add nuclear weapons, that a democracy stable like south korea and japan is not something i think we would be that worried about. we're much more worried about north korea and iran, which is i'm afraid coming a lot faster than the administration think so into having nuclear weapons. and even countries like pakistan which are sort of democracies but kind of chaotic and have nuclear weapons. they're serious problems. but japan and south korea, they're not going to get the world more dangerous if they should have nuclear forces. roughly the size of, say, north korea's. liz: well, during this g7 meeting, the rest of the countries have agreed to send this strong message regarding the dispute in the south china sea where the chinese have just decided to squatters rights. and they're even building the islands upon which they want to squat. >> yeah. liz: and they're building
military complexes on these islands. nobody's happy in southeast asia at this point. what happens here? >> well, this is a tough one because i think the chinese are into the business of clearly protecting their access to trade and especially oil and gas and especially oil from the continent. and protecting the sea lines of communication. now, why they think they have to do it so vigorously is beyond me. they're a strong country, and they could keep the sea lines clear if they want. but they're preaching into what is regarded under international law as international seas. and are turning, trying to turn south china sea into a chinese lake. and we can't really go along with that. liz: it's good to see you, ambassador, thank you so much. let us not dream but make reality more peace in this world. that's for sure. thank you. happy memorial day.
>> good to be with you. same with you. liz: and thank you for your service, sir. we want to take a moment to thank all of our sailors, soldiers, and marines on the eve of this memorial day weekend. your dedication and commitment to this country is so appreciated by us all here on countdown to the closing bell here on fox business. so we thank you. we hope you have a great holiday weekend. when we come back, though, you're not allowed to start just yet. an all-star lineup next week. chief economic advisor here with us on tuesday. all things federal reserve, ed rollins, famed fox news political analyst, his insight snoot inside track of 2016 presidential race. and kenny wheels up ceo trying to cut the cost of private jet travel. the silver lining of the tsa nightmare that has been unfolding. all of those people. great to hear from all of them. stay in touch with us all weekend on social media. tweet me @lizclaman, and you
can watch all of our videos at lizclaman.com. the closing bell just 39 minutes away. a super bug worse than the zika virus and worse than ebola. it's right here in our own backyard. the first case discovered in the u.s. the interview you can't afford to miss with the author who predicted this more than 20 years ago in her book the coming playing. -- plague. lori garrett in a fox business exclusive coming right back
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. liz: we've got some frightening and disturbing new today. for the first time ever, researchers have found a person here in the united states carrying bacteria that is resistant to antibiotics of the last resort. a long dreaded but not seen before u.s. super bug. it's a strain of e. coli has been identified in a 49-year-old woman in
pennsylvania. are more than 320 million americans now exposed to a deadly plague with no cure? our next gue is new york times best-selling author of the coming plague, newly emerging diseases in a world out of balance. lori garrett joining us now on a fox business exclusive. thank you so much for joining us. >> thank you. liz: i to tell you, your book years and years ago it appears predicted this very scenario. are you surprised about the news that broke today? >> not in the least. if i have any surprise, it's that it took quite this long. and i think that most important thing for people to understand is exactly what has happened. all right? in 2008 in india a mutation emerged that we call mdm, this mutation conferred widespread drug resistance in a whole range of different types of bacteria. since 2008, that has come out in nine different forms. so now we have mdm1, two, out
to nine? liz: sure. >> each one deadlier than the last, and it has spread throughout the world. well, when you have mdm, what we call a plasma, a bit of dna that has its own coding, and it can jump from bacteria, species to species, they actively share it when antibiotics are thrown in and mutate. now because of that, we had to resort to using an old antibiotic that had gone out of favor because it causes sydney side effects. liz: correct? >> what we now see that just emerged out of china last year and now for the first time in the united states is the mcr gene, which is another plasma. it contains a whole range of resistance. if you have those two together, you can forget penicillin, you can forget your fancy broad spectrum antibiotics, you're in serious trouble. we're on the cusp of the end
of antibiotics. liz: okay. that's what the c.d.c. director said. in fact, he said the medicine cabinet will be empty and useless. >> yes. liz: if this thing starts to spread. >> yes. liz: i have to ask. is this our over use or problematic prescription of antibiotics coming home to roost? >> you know what it really is? and this is what makes me quite angry actually. this is fundamentally about agricultural use. we use far more -- i mean we as the world use far more antibiotics to promote getting fat chickens and fat pigs than we do to cure diseases either in animal or people. and indiscriminate use as growth promoters is why? why do all of these strange things come out of india and china? because they have a totally unregulated agricultural system and any chemicals any farmer wants to throw into to make their pigs fatter, chickens fatter. and all of these mutations start in the animals. . liz: but this woman in
pennsylvania hadn't traveled. she reportedly has not traveled to china where pork that has been -- >> well, that just shows us it's in our environment now. . liz: do you expect to see more cases. >> yes. of course. and we will see more that are involved less obscure microorganisms, salmonella has turned up in pneumonia cases, it has turned up in gut and bacterial problems due to e. coli. a huge range of different microbes can carry these two plasmids and, you know, we are just playing games by imagining that the solution to this is going to be some miracle drug to come off the pharmaceutical shelf. no. the solution is to absolutely ban agricultural use. liz: okay. but do we wash our hands more? do we use.
>> well, one thing that anybody can do is stop eating poultry, fish, anything that has been antibiotically treated. and eat only at restaurants that guarantee they don't use any foods that have antibiotics in them. because if the antibiotic is there, the mic robes that are cohabiting that space are going to be exposed to the antibiotics, and it's going to breed resistance. and, yes, you will get it from them. you will get it from all sorts of foods that you eat. that's a big start. and that's more significant than almost anything else you can do right now. liz: check your hamburger meet before you put it on the grill this weekend. >> make sure things are cooke c. liz: great to have you and read the book the coming plague. lori the author. great to have you. thank you so much. >> thank you so much. liz: she's smiling, i'm not. now i'm nervous. made me nervous. 29 minutes before the closing bell rings. the dow is up about 25 points right now. don't jump in your cars just yet.
we've got an exciting 29 minutes left. donald trump and bernie sanders still publicly pushing for a california debate against each other as prominent democrats try to give hillary a hand by saying this thing won't fly. richard goodstein and john heart are political experts tell us the debate that could become a reality. countdown coming right back. don't go away
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. liz: senator bernie sanders just wrapping up a rally in san pedro, california right now. and the potential debate between donald trump and senator sanders is very much alive. for both of them. they're both fine with it. in fact, sanders discussing it with jimmy kimmel last night and then mentioning moments ago. but prominent democrats don't
find it funny or realistic at all. a democrat holding it nothing back calling s. why would you expect bernie to be considerate or nice bringing everybody together? why? he's not a democrat. and then senator gather peters saying it is time to start winding down the primary, time to move on. senator peters from michigan, senator brown of ohio smelling a scheme quote it's peculiar, all about bernie trying to get the advantage in california. it's not going to work. let's bring in richard goodstein. democratic strategist good to see both of you. to you, richard. it looks like the so-called establishment democrats are saying move out of the way, bernie, enough already, let's get on with it. >> yeah. so i believe that any person in the media who suggests that there's still a real race on the democratic side is doing their viewers a disservice. there's not. i mean bernie sanders would
have to win every single outstanding state 70/30. he's only won one state like that, which was vermont. and all the polls he's either down or tied. so it's a fantasy. hillary clinton has it won. and that's why it's not just the establishment, everybody who see has drunk the sanders kool-aid or frankly is egging on sanders to help trump -- liz: i have to say, though, that there are reports that legitimate news organizations are interested in taking it. >> of course. yeah, they're willing. liz: but they both want to get out there and talk. bernie hasn't officially been lambda. so to john, who is the most to lose in this debate? is it bernie sanders, hillary clinton, or donald trump possibly? because if he gets out there and bernie comes to somehow really play and plays an a-plus game, who knows what could happen. >> well, i think hillary clinton has a lot to lose. what the american people want is a debate between real ideas. between liberalism and capitalism, socialism, and the free enterprise system.
and the conservative critique of trump is that he has not embraced a clear capitalistic world view. he's not an ideas guy. he's a gimmicky guy where sanders is all about ideas. so i would love to see this debate between a socialist and trump. and hopefully that would force trump to articulate a capitalist vision in a way he hasn't before. it would be a spectacle with substance. it would be a great can debate for the country. liz: and, richard, you just said, look, anybody who thinks there's a race is dead wrong. buts there a heat in california. >> everything is proportionallism. so let's assume even -- remember incidentally that barack obama lost new york. he lost pennsylvania, he lost california and ohio. all states he won in the general election. so there's no colation between how you do in the primary. nobody talked about him limping into the convention in 2008 because he lost california to hillary clinton. liz: true. >> which he did. so, look, i i agree with john in this regard.
trump would have to answer from bernie sanders about tax returns, about swindling 9/11 victims, about how exactly you're going to keep muslims out. this silliness to have mexico pay for the wall. it's not capitalism versus socialism. it's whether his ideas are defensible and donald trump has not been called to account and maybe i don't think this is going to happen. i would bet a lot against it. maybe bernie sanders would actually make them answer for outsourcing jobs, all the things that are frankly quite off putting to americans. liz: well, yeah. donald trump says we've got to impose tariffs in china, some of his ties are made in china. but that's not something bothering his die hard supporters. he look towards trying to convert certain states that have traditionally gone democratic or at least lately gone democratic. he's going to focus on michigan, going to focus on ohio, virginia, some of these other states. how does he shift those states to go his way. >> well, he has to speak to the bernie sanders voters and convince them to come over to
his side. and that's why this debate is smart politics for trump is that he has to bring in more people in order to have a chance to defeat hillary clinton. and i concede. this is -- california is not about bernie sanders becoming the nom in any way. it's about a schism in the democratic party. they're having a crisis of policy, a crisis of ideas, and they can't decide whether to embrace venezuela style economy or america style of economy. so it's a valuable, important debate. it's not just a gimmick eithe e. liz: well, i know you guys want to hit the road. it's great to have you on the program. thank you so much. >> thank you, liz. liz: good to see you. happy holiday. make it a safe one. thank you. closing bell 18 minutes away. dow is climbing back up. not exactly at the highs of the session but up about 33 points right now to 17,861. it's a powder can he go on the verge of exploding. will viacom ceo fellowship and the rest of viacom's board survive summer redstone's
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. liz: game stop is off the lows of the session but still one of the most beaten down stocks on the s&p 500 today. game stop reporting an 11% drop in profits last quarter. pro injecting a poor forecast for this quarter. they had fewer launches of blockbuster games here. watching this stock very closely. the world's largest retailer blaming the blockbuster issue but also downloadable games. where you just go on the web and download them. they're hurting that package business that game stop is so good at.
we'll talk the video game business tuesday right after the holiday weekend. my fox business exclusive interview with game stop ceo paul reigns. breaking news right now on viacom. a massachusetts court has just set a june 7th hearing date in viacom ceo fellowship legal complaint over his removal from the summer redstone trust. we've got exclusive details on a scoop regarding the board of directors that we broke yesterday but this is a battle royale between the company. >> we should point out there's a reporter with very little hands a at ccnbc . liz: i don't even know. >> this reporter has very little hands who's trying to take credit for the story that we had yesterday. it has always been known mr. reporter with little hands that the board of directors was fearing that they were going to be ousted by sherry
redstone and influencing -- liz: founder. >> what they didn't know is that what we were reporting yesterday is that the board is now meeting and preparing a lawsuit in delaware. chance to record. so as soon as that happens to block it and to basically imminently try to keep dauman immediately as ceo. so what we're likely to have a situation occur in delaware court. why is delaware important? most companies incorporate in delaware. and we know this after two things happen. viacom has gathered to discuss this. we know that happened in the last 24 hours. liz: and they're on dauman's side mostly; correct?
>> they are on dauman's side. and we should point out again, mr. little hands, we were the first to report this news. so this is pretty big. as we said yesterday, mr. hands, the -- this could be coming any day. liz: and the stock, by the way, we should look at it, is jumping pretty decently here. but also some other unrelated news. viacom has renewed its carriage agreement with cox. cox cable. so the stock is up four and a quarter percent. >> well, the stock is not -- going up because of a board implosion -- a company implosion. which is what this is. this has a lot of investors scared. liz: yeah. >> and that's why this is, this thing is coming to an end imminently. it could be today as we reported. it could be tomorrow. liz: quick word on -- >> but i just want everybody. this could happen. you know, over the weekend as far as we know. liz: i bet they're meeting over the weekend. >> they are. they are. sherry is meeting with her people. we know that mr. hands.
we know that s so sohmner is communicating. we know the board is, like -- has according to my source, that lawsuit locked and loaded. here's what we got on bear. bear is telling investors that they are committed to this deal. they've been signaling that to investors in meetings over the last couple of days even after the santo rejection. here's the thing. investors telling us they may sell assets to complete the deal to generate some cash and one thing swirling around is they could sell one of their units for 9 billion, $10 billion. if you think about it, that could add to the price tag. a 60 billion-dollar deal that they're offering monsanto, that could bump it up to 70 billion. monsanto believes that this
could continue. liz: everybody should keep to foxbusiness.com charlie gasparino. he's breaking this. >> ignore the guy with the little hands. hands. liz: don't eat any hamburgers with antibiotics in them this weekend. >> what does that mean? . liz: okay. >> is someone going to poison you? . liz: no, it's the super bug that we just talked about. sea, i'm trying to protect charlie from himself. >> i don't eat red meat anymore. liz: closing bell, i do, the medical community may be waving warning flags over cell phones and their role in possibly causing cancer with a new report out. but sky bridge capital troy says this is not stopping him from betting on wireless spectrum. his case for the sector and the strategies for successful summer in stocks. that's next on countdown. don't go away
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get to new york stock exchange adam shapiro on the halo effect in a negative way. reporter: in a negative way. so it was not same mi on earnings report, palo alto hit right where wall street expectation but it was guidance to next quarter that is not what people expected. right now down. forth net is down. this following earnings report from palo alto. the guidance shows trouble for the next quarter. liz: thank you adam. three minutes to go before folks hit the row, you dow might sees it first winning streak in 5 weeks, we're up 35 points with 4 minutes to go.
troy, okay. we got a gdp revision, better than last one, we saw growth, but missed estimates but yellen's talking about a possible rate hike soon? what do you see, stay in stocks for second half through the summer. >> if you stay in stocking realistic you will not have meaningful upside. so we don't think you should go away, you should be prepared for a more volatile summer than early last year spring. liz: a week from today the may jobs report that could add volatility, still stocks are a better bit, at-this-point? than tread treasuries? >> yes from our perspective. all you need to make money there is not to have a collapse of the economy, one
issue is stocks given they are trading 17.5 times earnings you need continued more good news with the fed in play, but don't hide in a bunker and sell because you think that the world is going to end, it is not. liz: don't do that, people. if you are in stay in troy said volatility will be tough to time the market. we have a cell phone report of it possibly causing cancer, the report is lightly problematic. you said you like wireless spectrum names. >> hedge funds have been criticized. but a unique thing that hedge fund can do is buy access, we have a position, where they bought the spectrum in a bankruptcy, they own equity of corporation that owns spectrum. so there has been a big grab for spectrum. there is insatiable demand for
wireless. one of fed hikes, or china has a hard landing or not, we think this profitable. liz: if you look at names. it could be anything as we wrap up this day to weekend. it looks like bulls issu are still in play, what is your message. >> stay engaged. don't hide or sell out, because you could a recession is imminent. markets will be more volatile the ste fed will tighten monitor policy. don't be 100% equities or bonds, find something in between. liz: troy thank you,. >> we're looking at first week
in 5 that the dow will close up, losing streak has been snapped, closing bell comes in right now [closing bell ringing] we want to thank our veterans, anybody who has served, thanks to you, we hand it over to melissa and david for after the bell. david: thank you, stocks clawing higher in final moments of last trading day before long holiday week. this breaks a 4 week losing streak, i am david asman. >> i am melissa francis, this is after the gel, we have you covered in market, but first. donald trump canvassing golden state wrapping up a big rally in fresno, blasting hillary clinton. pushing to debate hillary clinton, he will take stage in station within an hour, where about a thousand union protesters are gathering. on this memorial day, a follow-up to disturbing stor