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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  June 1, 2016 3:00pm-4:01pm EDT

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we have gotten word from the white house that the president was briefed aboard air force one on the reports of the deadly shooting incident. he asked his team to keep him updated on the situation as ucla is still on lockdown. we do know that two men have died in the incident, ashley webster in for liz claman is taking it from here. >> indeed, we are following the drama at ucla where two people are confirmed dead and a manhunt under way for the killer. we will follow the latest developments and bring them to you live. we are getting down to business, on wall street markets reversing course. strange day turning positive moments ago, investors wait for friday's all-important may jobs report. the dow jones industrial average up about 10 points at 17,796 on the first trading day of june. the 2016 race for the white house rocking and rolling at this hour. hillary clinton wrapping up a campaign event with rocker bon jovi in new jersey moments ago. hillary saying donald trump's
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campaign is living on a prayer. slamming the billionaire businessman for the failure of trump university, calling it a fraudulent scheme. out in california, senator bernie sanders trying to appeal to the greenies in spreckels, california, sanders wrapping up with a vow to end fracking, calling for a ban to the oil drilling process. trump is on his way out west to california as well for evening events in sacramento as new polls show trump trailing hillary by four points. all this as president obama gets set to add his voice to the 2016 race. in this hour, he'll be laying out the two paths the voters have to follow this fall. our political panel will tell put its president's participation will help or hurt hillary? the latest on the texas floods. ford reveals 2017 superduty to fox business, and charlie breaks it. we have less than an hour to
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the closing bell. i'm ashley webster in this afternoon for liz claman. let's start the "countdown." . >> well, as we look at it now, markets are at session highs. we were up 10 points a few minutes ago, down over 100 points this morning. positive ism data out this morning not enough to cause major moves as investors stay essentially in a holding pattern ahead of friday's jobs number. a little over an hour ago, the fed's beige book report showed modest growth across the country. did note that the labor market remains time. the major indexes moving slightly. the russell 2000 up half a percent. specific market movers for you. nike isn't doing it today. the company was downgraded by morgan stanley citing a higher
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possibility of slowdown of u.s. sales for lowering price target to 60 bucks a share, shares right now down three quarters of a percent at $54.83. under armour having a down day cutting four year reserve outlook citing court approval of the liquidation of sports authority, cut forecast because of that. shares down more than 4%. alibaba heading to markets, softbank announced it will sell $7.9 billion of the e-commerce giant to offset losses that the company may see from u.s. telecom unit sprint. shares down 5%. all right, let's get on politics. less than a week away from the next big primaries in california and new jersey, and the new "quinnipiac poll" shows hillary clinton and bernie sanders leading donald trump in national polls. the poll shows hillary clinton just a 4% lead over donald
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trump, 45-41. hillary was in newark, new jersey on the campus of rutgers university this afternoon, holding a rally before heading up to boston for fund-raising. she also canceled her thursday events in new jersey to put her focus on the tight race with bernie sanders in california. so does that cause nervousness for hillary about the outcome in the golden state? adam shapiro is in new jersey outside of hillary's event today. adam? >> reporter: she does expect to win the nomination, she only needs 71 points to clinch the magic number with the democrats or 71 more delegates. and she can get those out of new jersey, but california is important because so many democrats there, if she doesn't have a decisive win, people think that would show her weakness. today she wasn't concentrating on bernie sanders. she was looking towards the presidential election and talking about donald trump. she attacked trump, regarding
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his donations to veterans saying that it was only after the press shamed him into making the donations that he followed through and original thrust was a publicity stunt. it was trump university where she took her fiercest shot against donald trump calling him a fraud. take a listen. >> this is just more evidence that donald trump himself is a fraud. [cheers] he is trying to scam america the way he scammed all those people at trump u. >> reporter: so hillary clinton didn't mention bernie sanders once, but has canceled her other appearances here in new jersey and will be in san diego tomorrow in which she will deliver a speech on national security. clearly, she is concerned about mr. sanders. when you take a look at the latest polls out of california, this is the public policy institute of california. sanders has closed the gap,
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only losing at this point among democratic voters by about four points to clinton. so clinton clearly keeping an eye on what's going on there but turning her attention to donald trump. ashley? >> fascinating stuff. adam, thank you very much. appreciate that. senator bernie sanders california dreaming as we said at the top of the show hoping to capture the environmental vote. he wrapped up a news conference calling for a ban on fracking, and he used the opportunity to highlight the differences between himself and secretary clinton on the issue, taking a swipe at her in the process. >> secretary clinton wants to win one way or another, quote, unquote regulate fracking. i think it is too late for regulating. i think fracking has got to be banned in america. [applause] and by the way, secretary clinton as the secretary of state, as many people know, actively pushed
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the fracking technology on countries throughout the planet. >> i'm joined by sanders campaign senior adviser larry cohen. thank you so much. we heard from candidate sanders there. why is fracking so bad? i'm sure that you saw the report that the epa put out just last june, it took four years to put the report together that says fracking poses no real significant evidence of a threat of water contamination through the process. how do you argue against that? >> well, first of all, it's about how do we have a growth economy in this country? for decades, most working families have seen no increase in income. that's a drag on the entire economy, and bernie's frame, really, is that renewable energy, number one, is the best answer for climate change, and number two, the investment in renewables is one of the ways we stimulate the economy
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overall. creating an upside on the demand curve. >> but larry, if you go upstate new york, you can see towns devastated by the crashing and the shutting down of the fracking industry. and want to get back to the original question, the epa says fracking is perfectly safe with respect to the drinking water. how do you respond? >> well, there's lots of evidence that, in fact, it's not. >> from who? >> i lived in pennsylvania recently and seen water that's discolored, and talked to citizens there who believe that on the one hand it creates jobs for the short run, and on the other hand, they're paying for with bottled water when they used to have clean water to drink. >> the epa said just in a few instances it wasn't due to the fracking process itself. it was mistakes by people operating it. however, you also, aren't you bringing the student of low
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energy source, aren't you cutting that off? it will help people offset their expenses. how do you answer that? >> that's a fair debate, and good discussion, but on balance, we would come down saying our country needs to shift to plan ahead, and to lead the world on the renewable side and get the believe and private investment that we need to do exactly that, and that, in fact, that investment will help stimulate the economy, create jobs and is good for all of us. >> i'll put fracking aside for now. i want to ask you, we'll get out of it. you could make the argument, or those that make the argument that the way that bernie sanders is continuing to give hillary clinton a good run for her money. no doubt about that. but overall exposing weaknesses that donald trump could very easily take advantage of, if, in fact, she goes onto become the nominee, which, in fact, she will? >> yeah, our reaction to that is we set out a year ago to
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show there is a different path for the economic future of this country as well as other issues, and that's what we're doing. we're focused on what could that path be. we're not focused on undermining secretary clinton or anybody else for that matter but trying to talk about what growth can look like again instead of more of the same which isn't appealing, particularly to younger people in this country. they want to see a change, they want to believe an american dream for them and the stagnation their parents have faced and colossal student debt is not necessary moving forward, that we can change those things. >> want to ask you also about labor unions, bernie has been able to pick up the support of a few unions, but if he's not in the race, could donald trump pick up the support that sanders had because he does talk about nafta, he does talk about the pacific trade
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agreement staying is bad with u.s. workers and does resonate with union workers? >> yeah, i think you're onto something there and i think that it's key that the democratic party, not just the presidential candidate make it clear we need a new trade regime, one that's good for working families, one that promotes growth of jobs and incomes in this country, which is good for the overall economy, and in my own conversations even with ceos of large corporations many agree to that, though they don't dare say it. >> i have to leave it there. a fascinating race goes on. close race in california. larry cohen, thank you for joining us. >> thank you. >> want to get back to the shooting story we've been following on the campus of ucla. police chief charlie beck moments ago saying this is now a homicide investigation. in fact, calling it a murder-suicide. both victims were male, it is unclear if a suicide note is
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left but says the campus is now safe, as you can see, this was a situation that was unfolding for several hours. earlier, later this morning, california time, reports of a shooter on campus. we're told by the head of the lapd it was, in fact, a murder-suicide. two male victims inside an engineering building, engineering building number four on campus at ucla. we'll have more details as they become available on that story. to the markets, the grocery market, whole foods, one of the hottest movers on the s&p 500 today. the natural food grocery chain getting upgrade from credit suisse to outperform, trading at 34.03. up 5%. take a look at dow 30 heat map for you. what's driving the market? du pont is the leader followed by procter & gamble and morgan chase.
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we have apple and verizon the laggards on the dow 30. expert traders, do they see a june swoon ahead? we're going to the floor show. and later, headed to dearborn, michigan where ford is rolling out the 2017 superduty truck, and jeff flock and only as he can do is there to give us an exclusive look at hot new ride. more "countdown" on the way. okay, ready?
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. ashley: market rally gaining steam, not being sarcastic, we are up 8 points, as much as 13 points a short time ago, we have seen a 130 point reversal. nothing to sniff at, ahead of friday's jobs number. the dow up 8 points at 17,795. this morning on "mornings with maria," legendary investor wilbur ross cautioned what he thinks would be the biggest threat to the markets. we shall see. is he right? let's get right to the floor show. i don't know what he said was the biggest threat. traders at the new york stock exchange, the cme group and the nymex. stephen guilfoyle, sarge, to you first.
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penetrating water trying decide what jobs number will mean on friday, but i get the sense that a fed rate hike already built in. >> feels like something of a rate hike by june or july. today didn't help at all. the beige book told thoughts market's not strong enough to be hawkish and not weak enough to be dovish. macrotoday, we had an awful construction spending number. we're kind of going sideways here. we are above 2096 which was the technical level, resistance for the s&p 500 and we're above it now. that is a positive. i'd like to see us get above 2100 now. ashley: you're a positive guy, sarge. scott, okay, wilbur ross said that the brexit was the thing that worried him. a lot is being made of that, that could add to an interesting month of june, right? >> well, i think the beige book today, it will depend what we
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get with the jobs number on friday. but brexit hanging out there, if they have do a rate hike which i don't think they do but want to is going to be july rather than june because of brexit. but everything that's come out of your mouth before we went on hasn't been about an economy that's tearing the cover off the ball here. we're not moving from strength to strength to strength yet we talk about a rate hike because the fed wants to do it regardless. if we're data dependent to as long as things don't get worse, we will go sideways. ashley: as long as the wheels don't go flying off. to luke quickly, i wanted to talk about oil, i can't make any sense of it. it was down earlier this morning, we had the opec meeting tomorrow. i get the sense we have a massive supply of oil. the glut hasn't gone away, has it? >> a lot of ships have a lot of
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oil on it. we'll see tomorrow. the people are saying opec has lost power. but look what opec has done to the oil produceers that marginal in the last nine months when it drove prices down. a cartel by any other name is still a cartel. we'll see tomorrow. ashley: it is a cartel anyone pays attention to anymore? >> i think so. look at the u.s. oil production, nigeria, venezuela, soviet union falling in line saying enough is enough, whatever saudi and opec decide will be what the rest of the countries abide by. ashley: thank you very much. down and dirty this afternoon. appreciate it. back to the shooting on the ucla campus. again, police chief charlie beck moments ago saying this is now a homicide investigation. he called it a murder-suicide.
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the two victims are both male. unclear if a suicide note was actually left and also unclear the relationship between those two men. most importantly he says the ucla campus is now safe. coming up next, jeff flock is standing by in dearborn, michigan with exclusive look how ford is fighting the change in the auto industry and he's in the passenger seat, jeff? >> reporter: ashley, i'm the first reporter to get a ride in the new ford superduty truck. maybe you see us as i wave out the window on the other camera. yeah. it's a good time. i'll tell you why this is such an important truck for ford as we give you an exclusive look at this very important truck at the ford test track. stay tuned!
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. ashley: u.s. auto sales on track for another record year as new vehicle sales in may showed a decline due to weak
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demand for sedans. america's largest automaker general motors reporting a 14.3% drop from a year earlier, ford saw a 6% fall in sales even though the f-series rose another 9%, and chrysler said sales rose thanks to a 14% gain in jeep brand. you can see the prices moving lower, gm, ford, chrysler, gm shares down 3%. jeff flock is in dearborn, michigan with exclusive look at the all-new 2017 ford superduty. jeff, take it away. >> reporter: you will love it. we're going to do it through the paces, one second before i get crazy. this is an important truck for ford. huge profit margin for them. the first super duty to be all-aluminum. okay, jason, punch it. this is test track.
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all the dealers from around the country coming to dearborn to check the truck out. maybe you can see us on the wide camera going through our paces here. they want to let the dealers know what the truck can do. obviously it's a huge opportunity for ford in terms of sales as we said. huge profit margins for the vehicle. also talked exclusively today to ford president of the americas joe hendricks who hit back to donald trump who made comments about ford transferring work out of country, building a plant in mexico. he said a lot of the competitors make a lot more cars in mexico than ford does. listen. >> even though we're second in north america in volume. we have balance for small cars production going down there, more challenged in the profitability standpoint. we're going to continue to make most of our investments in the u.s. >> reporter: that's pretty much ford's take on it.
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a lot of people make a lot more cars down there than they do. and also transferred the making, the manufacture of the ford 550 and 650, the real, real big trucks, transferred them from mexico to make them back in ohio again. not too happy with a certain republican presidential candidate. as we take one more run up the road here. ashley: go for it. >> reporter: hope we survive it. gonna hang on! >> waving out the window. our very own jeff flock who has not been given permission to drive it. he's being a passenger very well. a guy taking his life in his own hands by standing on the corner. here he comes. all-aluminum super truck, super jeff flock, thank you so much. wonder if he drives like that on the interstate? up next, major development in the search for the black boxes from the doomed egyptair flight 804.
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new information that could put investigators one step closer to determining what actually caused the crash that took 66 lives? and president obama taking a victory lap in indiana on the economic recovery as approval rating soars, but could the president's surging popularity become the newest weapon in the race for the white house? political strategist mary ann marsh and kevin paul scott take on the latest war brewing in the democratic party. "countdown" is coming right back. poor mouth breather.
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♪ ♪ (charge music) you wouldn't hire an organist without hearing them first. charge! so why would you invest without checking brokercheck? check your broker with brokercheck. . ashley: new clues in the egyptair plane crash investigation. according to the french aircraft investigation committee, a french vessel has detected signals from one of the black boxes aboard the aircraft which disappeared from radar may 19th with 66 people on board.
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specialized locator equipment detected signals from the sea bed in the eastern mediterranean. it's been nearly two weeks since egyptair flight 804 lost contact over the mediterranean. authorities are searching for evidence about what caused that crash. the black box could prove to have vital information, of course. meantime, looking at live pictures of president barack obama speaking live in alcott, indiana, the first place that the president visited right in the height of the financial crisis. while the president is expected to tout the economic growth under his watch, he's expected to speak politically as he has reportedly been itching to speak about the presidential race. white house officials have said that the president and his officials believe hillary clinton will be the nominee and there has been some frustration over senator sanders' continued attacks on the president's former secretary of state. i'm joined by democratic
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strategist mary ann marsh and republican strategist kevin paul scott. mary ann, to you first, should bernie sanders get the heck out of the way? >> he should after next week. the fact is hillary clinton will be the nominee. she'll have all the delegates, declared the nominee when the new jersey polls close next tuesday night and the fact is the last six democratic nominees when they hit 2383 delegates all were declared the nominee and did that with a combination of pledge delegates and super delegates. i don't know why there is a double standard bernie sanders is insisting on. the fact is hillary clinton will be the nominee next week. ashley: he's gone farther than anyone thought, exposed weaknesses with hillary clinton. he's got a very solid base of support. has he opened up a way for donald trump to kind of carry on where he leaves off?
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>> well, donald trump noted that bernie sanders has given some of his best lines against hillary clinton, but hillary clinton was much closer to barack obama when she ran against him in 2008. she beat him in the california primary had, more delegates and more votes, and much closer to delegates than sanderses was yet barack obama was the nominee, he had the delegates and the president of the united states. those are the rules, those are the facts. ashley: let's bring in kevin, on the other side of things, ironic, we were talking about a contested convention for the republicans, but the race is still going on in the democratic side and feels that the republican party is coming together, healing, all about unity. and he is doing better in the polls, donald trump. how would you put his chances right now of making it to the white house? >> well, i think you've got to say they're a lot better than they were a month or two ago. he has done a really good job of uniting the party. somewhere going to take longer
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than others, but starting to coalesce that support around him. at the same time, he's helped -- as much as he's helping himself, he's more helped by the challenges on the democratic side. hillary is still trying to fight bernie sanders, and while i agree she'll ultimately be the nominee, the way he has treated and if he feels disenfranchised and makes a big stink about it, that's going to hurt hillary. she can't get over the e-mail scandal. can't get over her record. the combination of the factors on the democratic side combined with a good few weeks for donald trump is helping him. ashley: mary ann, are you worried not as smooth a transition from the two candidates to one candidate and presumably hillary clinton, there are worries that some could jump across to donald trump's ticket? >> that is a concern, part of that is up to bernie sanders. the fact is hillary clinton will be the nominee, as you indicated in the opening, president obama is frustrated
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not only on the attacks on secretary clinton by bernie sanders but bernie sanders spent just as much time attacking president obama. he criticized jerry brown the democratic governor of california for endorsing her. governor frank, governor malloy of connecticut. he wants to be the democratic nominee. i think the other part here is if -- excuse me, if clinton pix elizabeth warren, bernie sanders is in the rearview mirror. so he should be thoughtful how he conducts himself over the next few weeks because he seriously is on the verge of overplaying his hand badly. ashley: kevin, does this all play -- is this good news for the gop as we watch this unfold? >> certainly is good news. while i completely agree with it is up to bernie sanders whether or not his followers coalesce, it's up to hillary clinton to treat him well and make sure he does. that how she handles bernie over the next couple of weeks will affect how he in turn reacts and whether supporters
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ultimately vote for the democratic nominee. it's incumbent on the clintons to do what they do best and get bernie sanders feeling good or they're in serious trouble. ashley: i have to leave it there, the intrigue goes on. great theater. mary ann and kevin, thank you for joining us. >> thanks, ashley. ashley: plenty to say about this political season. the california primary just six days away from today, and fox business will be all over it, coverage begins tuesday june 7, at 7:00 p.m. eastern. do not miss a minute of it. great stuff. the sumner redstone soap opera taking another wild turn in what can be described as the bold and the spiteful. redstone against redstone and one family member could hold the key to bringing down the patriarch. charlie breaks it down next on "countdown."
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. ashley: today the battle for viacom went from dramatic to bizarre. karen redstone has opted to go against the family and take the side of philip doleman and argue against the rston fami. she argued she is being manipulated to turn on the board. this is from karen's statement saying sherry and her family have managed to totally isolate and kidnap and brainwash and take advantage of my grandfather due to his debilitated state of mind and frail health. with us is charlie gasparino, this really is a soap opera and becoming more and more bizarre. >> this is a normal family! th.
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you think there is anything wrong with the family? ashley: money makes people do funny things. >> shari redstone is now -- ashley: the daughter. >> the daughter of sumner, the 20% owner of cbs and viacom via national holding he owns 80%, and what this presages is a battle between sherry and the board of directors to get rid of philippe dumond the head of viacom. she says she doesn't want to run it. ashley: she wants more control? >> i don't know, that's the one thing, they're not talking to us, she wants him gone. we should point out that last week, we were first to report, not cnbc, i know they tried to get credit that dumond was
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gearing up to be forcibly removed. ashley: i thought they were a few months back. >> this is where it gets complicated. out of the trust which distributes money to the family, they have not removed the ceo of the company or the board. that's what happens is any day the board members worry about being removed. in the fray comes a granddaughter. ashley: karen. >> karen. she comes in where she says -- ashley: my grandfather is being hoodwinked and kidnapped and brainwashed. >> i guess by the aunt. she apparently is going to be a witness if the lawsuit by dauman is going to be filed to the mental incompetence of sumner redstone. ashley: what are you hearing? how compos mentis is he?
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[laughter] >> we should put up karen's statement first. she basically says that she is -- i will soon be announcing legal steps to join with the board of directors of viacom to liberate from sharri's clutches. karen says since october, i don't know what makes her an authority but since october he has been mentally incompetent, meaning sumner, he hasn't been with it since october. ashley: she was living in the home with him, this is through personal observations. >> i don't think she lives there. ashley: there's a housekeeper in there somewhere. she said in the statement she was living there. >> the housekeeper was living there. ashley: yeah, but the granddaughter. karen, too. she saw firsthand. >> you know, i'm usually a good reporter, just so everybody
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knows, i usually know every single thing about a story. how did i not get that one fact? ashley: i don't know, it's being told to me in my ear, that's how i know it. where do we go from here? how does this play out? if we don't know. >> put up the stock chart. the stock is up marginally today.margin is up margin. ashley: if i'm a viacom investor, what am i thinking about all of this? >> this company has -- here's what i would say. viacom has real problems with cord cutting, that is something the board of directors is worried about people getting rid of cable subscriptions and content becoming less marketable and much more commoditized. they have properties like mtv that people don't watch, they are looking to spin off paramount. it's a company that has some good properties but they have
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nickelodeon as well. i'm not a big fan of nickelodeon. ashley: you surprised me. [laughter] >> but they have a name, they have some good properties. they have some that aren't so good. on top of that you have -- i've never seen board room unrest like this in my life. and it's epic, and we're waiting any day now for the next shoe to drop which is the move against dauman and the board and how much do they fight back. ashley: and how ugly does it get? >> they will fight back. karen will be one of the witnesses and they have a lot of evidence in their legal documents, in their lawsuit that says sumner is not competent to remove them. ashley: stay tuned as they say for the next installment of the young and the spiteful. >> i'm going to read up on that. ashley: charlie, thank you very much, great stuff. to a somber story, residents of rural southeastern texas counties bracing for more flooding.
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in fort bend county, southwest of houston, the brazos river reaching a record high crest at nearly 54 feet yesterday. local residents forced to evacuate and officials perform dozens of water rescues in the region. fox news' casey stegall live in richmond texas. forecasters predicting the river will remain pretty much swollen with more rain, i saw between 6-9" later this week? >> reporter: yeah, ashley, and rain is something they do not need here. especially when i show you what's going on. this is a neighborhood underwater. a family of four lives in this house. they have lost everything. they don't have flood insurance and they don't want to go too far, so some of them are sleeping in a nearby car. if you go over this way, you can see that the same story playing out for dozens and dozens of other people. an exact number of homes business ands that have been lost still has yet to be tallied but no doubt it has got
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to be hundreds across this region. not just where we are, there's a huge area affected by this historic flooding. we're talking about a swath from houston to austin. the problem is all of the rain that fell to our north over the last several days is making its way down stream. the brazos river is currently the highest in more than a century at 54.5 feet. that is about 10 feet over it. normally floods at 45. officials in texas say six people have died, some attempting to drive vehicles through high water were and swept away. now things are finally starting to dry out here a bit. in fact, the sun has been peaking its way through the clouds intermittently throughout the day, but as you were saying, ashley, the forecast doesn't look good. meteorologists say more rain is expected over the next several days into the weekend, and it could only exacerbate an already devastating problem.
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ashley: cannot get a break. casey stegall thank you so much for bringing us up close and personal with the flooding problems in texas. mark matson tells us why there is a lot to be excited in the market. and a reminder to connect with us here at the "countdown."
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when you cook with incredible thingredients...ato. you make incredible meals. fresh ingredients, step-by-step recipies, delivered to your door for less than nine dollars a meal. get your first two meals free at blueapron.com/cook . >> closings bell in under five minutes. we're limping into finish line. we're essentially where we were at 9:30 this morning. news for tesla model 3 owners. go to the new york stock exchange where lori rothman is standing by with news on that. >> ash, the model 3 is latest tesla model. it will begin production second half of next year. it will cost $35,000. elon musk says if you want to use supercharge es to get tesla
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charged in under an hour, it will cost you. just for comparison take, if you don't use tesla charging station it takes 10 hours to fully charge the electric vehicle. this move is, not i should say unprecedented. tesla has done it before with model s in 2012. users had to pay $2500 to access superchargers then. you know what happened to the model ss? they were discontinued because of low demand. musk says it comes down to economics. they will charge for drivers of new model 3 to use the supercharged booteries. ashley: always a catch. lori, thank you very much. june kicks off with downbeat note. we haven't gotten out of the starting gate. plenty on the calendar to keep investors business. there is jobs report friday and
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fomc meeting and britain's exit from the e.u. vote on june the 20 third of. let's bring in marks maxim. what are you expecting mark? people said this market is overpriced a little frothy if you want to use that term. what are your thoughts? >> i'm always excited about the market because i understand basic math. long term back to 1926, major depression. equitying averaged 10% a year. obviously you not get that every year. no one has a crystal ball what happens in the next 12 months but long term investors are rewarded for that type of risk. people say june gloom and doom and you might as well call it june zoom. equities are up 9.7% since 1926. look long term and stop trying to predict the next ten minutes.
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ashley: i get sense markets priced in a fed rate hike in the summer, would you agree? >> markets are amazingly apropos pricing expecting new events. unpredictable or new events that change the prices. to your point, everyone is very negative right now. there is potentially food things in the future. academic board, art laffer is talking to donald trump about trying to engineer reaganesque recovery with lower taxes, more innovation, less regulation and if -- ashley: great idea. >> rage ban's second year in office, there was 10% growth rate for the united states. so, you know, don't count the united states out of the growth of the future. ashley: let's get down to some individual stocks. you like sam song. part of emerging markets portfolio. why samsung, mark? >> i like any stock that has high book to market value. samsung is good example of a
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company with lot of assets but depressed price. on average those companies have three to 4% higher than expected return. i don't want any investor to be in love with any one stock. we have 5000 equities in countries. that is one example. don't bet the farm on one company. ashley: you like wendy's. why do you like wendy's? >> exact same thing in the united states. in addition to the fact they say they have better burgers, they're actually a depressed company. they haven't stayed up with the times. their marketing actually has gone down. most people stay away from those companies. those companies have higher cost of capital. so long-term they're small and depressed. higher long-term expected returns for investors. ashley: lastly if i'm reading it right, netgear. you like that, why? quickly. >> very small depressed company and high book to market value.
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you have to be in all different sectors. this is technology company. ashley: we got it. >> own them all. ashley: mark, you did great. [closing bell rings] can we eke out a win on the dow? melissa francis, david asman taking you "after the bell.". melissa: the dow kest prattly trying to turn positive there in the final minutes of trading. i'm melissa francis. david: i'm david asman. this is "after the bell." we have you covered in the markets. first here is what else we have for you at this hour. the lockdown has been lifted on campus of ucla after lapd confirmed a shooting on campus that killed two men in an engineering building. it was a murder-suicide. president obama speaking in elkhart, indiana, right now, taking credit for growing the u.s. economy over past seven years in office. reports are saying he is itching to hit the campaign trail.

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