tv Countdown to the Closing Bell With Liz Claman FOX Business June 2, 2016 3:00pm-4:01pm EDT
security policy speech at any moment. she's expected to blast donald trump's plan. which candidate do you think will be better at keeping all of us safe? i want to hear from you. like my facebook show page at trish intel and tell me what you think. in the meantime, liz claman is taking you into the close. liz: and, trish, we have our cameras trained on that podium. she is expected to make that case for why she should be the next commander in chief and why a donald trump presidency would end up in disaster for america. clinton set to begin that speech in san diego at any minute. she's expected to tout her credentials as secretary of state, also to call trump unfit to occupy the to value office for his positions on nato, nuclear weapons, banning muslims, torture and much more. while hillary clinton attacks the billionaire businessman, senator we're bernie sanders is hosting a rally in modesto, california.
he, in turn, is attacking hillary. the vermont senator is within two points of hillary clinton just fife days before the golden state's primary. all this as donald trump reacts to hillary's jabs and takes a few of his own at president obama who joined the debate yesterday. california democratic congressman john garamendi is a member of the armed services committee. he will assess the strengths and weaknesses of what hillary clinton puts out as her policy pitch. general bob scales on what both candidates are missing when it comes to the biggest threat this nation faces. plus, in the last two hours, another scare in the air. bomb threats, long tsa lines and on top of that, the airlines, as you know, have pulled out of venezuela. kenny dick to have has a problem, he's the founder and ceo of wheels up. he's with us exclusively, and he has created a private jet travel company. easier for the masses, beyond
the 1%. on wall street, the bears had it this morning, but now the bulls are running the show. we have the dow jones industrials up 25 points with just one day before the crucial may jobs report. anything can happen in this final hour. plus, the latest on the deadly texas flooding, elon musk headed the mars, and charlie breaks it. we're less than an hour to the closing bell, let's start the "countdown." 9. ♪ ♪ liz: look at the clock, we are 17 and a half hours away from the most important release of the entire month, the may jobs report. right now look at the street. the street is feeling pretty confident. we do have all green on the screen except for the dow transports which are down just nine points. right now wall street is expecting a gain of 164,000 non-farm jobs added to the economy. traders are placing their bets in the final hour thinking let's go long. why? we got an adp job number that we
curses all -- precurses all of that, but you can get and give credit to the oil stocks for the reversal. shares in all the oil names were way down this morning after hopes that news of an oil output freeze by opec melted. the cartel couldn't get its act together. not a surprise. they can never get their act together. but then what do you see intraday? oil starting to climb, and we've got weekly inventories that showed a drop in supply. less supply, demand seems to be decent at the moment, the price goes up. oil companies reversed and so did the market. both turned higher. not the same story for apple. the iphone maker is on track for its fourth straight session loss. and while the stock is cruising for a bruising, goldman sachs cut its price target from $136 to $1234. but look -- 124. but look at this right now, we're at $97. shares are down just under 1% at the moment. remember, warren buffett bought the stock somewhere around here.
it got as low as $89 a share this year, but we'll see. and it turns out it is not all castles on a cloud for oracle. the company under fire from a former senior finance manager who's suing oracle for terminating her. she says they did so after she alleged retaliation for complaining about improper accounting practices designed to make the company's cloud services business look more profitable than it really was. oracle is not taking this suit lying down. the silicon valley giant will file a countersuit against the employee today, but shares are not loving this story right now, down 3.75% for the moment. hillary clinton has just walked out on stage, she has taken that stage in san diego, california. she's laying out her foreign policy agenda. she's expected to tout her accomplishments, like backing president obama's plan to risk american lives in a mission to kill osama bin laden. with five states until the golden state's primary, she's trying to make the case that
donald trump may be the biggest threat to our national security. i'm joined now by hillary clinton supporter, democratic congressman from california, john garamendi. and, of course, congressman, you also are a member of the armed services committee. i'm sure you've seen a little bit of what she's expected to talk about here. give us your sense of strength, and i need to know what you think she's a little weak on too. >> well, certainly, we've never had a president in recent decades that's had the kind of experience that hillary clinton would have going into the white house. eight years as first lady, you understand how the white house works, you understand the good and the bad and the intricacies of that. that's extremely important that the president get that early on. she knows it the day she arrives. secondly, as a senator she represented the state of new york in a very, very difficult time. that was 9/11. and she pulled that state through, helped to pass the
legislation that funded the rebuilding of the city. and then other issues that came up during that time as a senator. she then went on to become secretary of state, traveled around the world gaining knowledge about the issues -- liz: okay. hold on. you know what? she's just beginning to get a little feisty here. she just called donald trump dangerous. let's listen for a moment. [applause] >> he is not just unprepared, he is temperamentally unfit to hold an office that requires knowledge, stability and immense responsibility. [cheers and applause] this is not someone who should ever have nuclear code because it's not hard to imagine donald trump leading us into a war just because somebody got under his very thin skin. [laughter] [cheers and applause]
we cannot put the security of our children and grandchildren in donald trump's hands. we cannot let him roll the dice with america. this is a man who said that more countries should have nuclear weapons including saudi arabia. this is someone who has threatened to abandon our allies in nato, the countries that work with us to root out terrorists abroad before they strike us at home. he believes we can treat the u.s. economy like one of his casinos and default on our debts to the rest of the world which would cause an economic catastrophe far worse than anything we experienced in 2008. [cheers and applause] he has said that he would order our military to carry out torture and the murder of
civilians who are related to suspected terrorists even though those are war crimes. he says he doesn't have to listen to our generals or admirals, our ambassadors and other high officials because he has, quote, a very good brain. [laughter] he also said i know more about isis than the generals do, believe me. you know what? i don't believe him. [cheers and applause] he says climate change is a hoax invented by the chinese. [laughter] and he has the gall to say that prisons of war like john mccain aren't heroes. >> boo! >> exactly. [laughter] he praises dictators like vladimir putin and picks fights with our friends, including the british prime minister, the
mayor of london, the german chancellor, the president of mexico and the pope. [laughter] [cheers and applause] he says he has foreign policy experience because he ran the miss universe pageant in russia. [laughter] or -- and to top it off, he believes america is weak. an embarrassment. he called our military a disaster. he said we are, and i quote: a third world country. >> no! >> and he's been saying things like that for decades. those are the words, my friends, of someone who doesn't understand america or the world. [applause] and, they're the words of someone who would lead us in the wrong direction. because if you really believe
america is weak -- with our military, our values, our capabilities that no other country comes close to matching -- then you don't know america. [applause] and you certainly don't deserve to lead it. [applause] that's why -- [applause] even if i weren't in this race, i'd be doing everything i could to make sure donald trump never becomes president, because i believe he will take our country down a truly dangerous path. unlike him, i have some experience with the tough calls and the hard work of state craft. i wrestled with the chinese over a climate deal in copenhagen, brokered a ceasefire between israel and hamas, associated the reduction of nuclear weapons with russia, twisted arms to bring the world together in
global sanctions against iran and stood up for the rights of women, religious minorities and lgbt people around the world. [cheers and applause] and, and i have -- [cheers and applause] i have sat in the situation room and advised the president on some of the toughest choices he faced. so i'm not new to this work, and i'm proud to run on my record, because i think choice before the american people in this election is clear. i believe in strong alliances, clarity in dealing with our rivals, and a rock-solid commitment to the values that have always made america great.
and i believe with all my heart that america is an exceptional country. that we're still, in lincoln's words, the last best hope of earth. we are not a country -- [applause] that cowers behind walls. we lead with purpose, and we prevail. and if america doesn't lead, we leave a vacuum, and that will either cause chaos or other countries will rush -- liz: well, it's all about timing, isn't it? just as hillary clinton begins doing the counter-mud slinging, we have this breaking news. the speaker of the house, republican paul ryan, says he will vote for donald trump. this is just coming in right now, but highway has certain -- he has certainly been waiting, leaning back just a bit and saying, well, let's continue these conversations. now he is now saying he will endorse and vote for donald trump. we are back now with john garamendi, the congressman from
california, and we want to bring in fox news military analyst, retired u.s. army major general bob scales. welcome to you both. let me go back to congressman garamendi. you now have congressman paul ryan saying, okay, i'm with donald trump at the moment, just as hillary clinton is saying donald trump is temperamentally unfit and could lead us down a very dangerous path. your thoughts right now. >> it was expected. we've expected him to endorse or at least vote for trump from the very beginning. he really cannot do otherwise. his reluctance, i think, speaks to the underlying problem that trump has, most of which hillary just laid out. the inconsistencies as well as the policy statements are, are you kidding me kind of statements. you just cannot be so inconsistent, so many flip-flops on very, very fundamental policies. among all of the things we need to have in this world is consistency of policy with
regard to our military, with regard to our alliances. we cannot allow world to be unsure where the united states going to go and what we're going to do. but donald trump is -- liz: sorry -- >> sure, go ahead. liz: i'm not sure if, general scales, you would consider one of these statements one of those are you kidding me statements, and hillary clinton quoted it. donald trump has said i know more than isis -- i know more about isis than the generals do, quote, believe me. does he? do you have a dog in this fight? do you feel that one might be better than another as hillary clinton lays out her foreign policy plan? >> i have no idea, to be honest with you, liz. i don't think he really believes that statement about generals -- liz: he sounded like he did. he said believe me. >> well, he's amended it since then. i'm fairly close to some of the generals and admirals and senior diplomats around donald trump, and the discussions that they've had with him in private leading
up to his own declarations about national security are a lot more level-headed and sane than the sound bites that -- liz: well, then why isn't he showing that, general? it almost seems like he -- look, it's worked very well for him to be in your face and to be bombastic many certain ways. >> yeah. liz: it's gotten people on his side, certainly, you know? as we look at the numbers, he is the nominated man right here -- >> right. liz: you know, in advance of the convention. everybody else has dropped out. but why then, why is he not that measured voice which, as hillary clinton argues, we do need as a commander in chief? otherwise you would have an itchy trigger finger when it comes to the nuclear button. >> yeah. well, i think eventually he will and i would argue eventually he must. but just look at it from the other side for a minute. mrs. clinton portrays herself as this steady national security expert with her hand on the throttle. but remember, she voted for the war in iraq. she's the one that backed the
president for his pullout of iraq in 2011. she's the one that caused such rancor with the russians and still seems to be to dotying to vladimir putin, not donald trump. so you can spin this both ways. her opinions and her statements on national security are very much many line with barack obama -- in line with barack obama. follow the democratic path over the last 40 or 50 years, and they're not different. >> congressman, she did make a forceful case for the iran nuclear deal, saying she felt if we didn't do it, we faced a far riskier future. there are a lot of people who hate this deal, and already in the wake of the deal, congressman, the behavior on behalf of the iranians is suspect, to say the least, disturbing. >> really? the fact that they are, in fact, dismantling their nuclear enterprise? [laughter] liz: well, they're missile -- >> wait a minute -- liz: death to israel. yeah, really. >> rhetoric, we just went through a large discussion about why donald trump's rhetoric doesn't matter.
well, rhetoric is rhetoric. but the reality is that iran is dismantling its nuclear capabilities insofar as their ability to produce nuclear weapons. it's happening. and it's happening on schedule, as laid out in the agreement. that's extremely important because the alternative is serious. the alternative was, basically, go and bomb iran, a major country with a major military. it would have been a very, very difficult, very dangerous and extraordinarily costly enterprise to have to go in and take that out with military. we did it with diplomacy, and the secretary had a major role in that and her successor, kerry, who carried it through. it is extremely important and successful. liz: general scales, this nation faces a lot of problems. the iranians among them. but, you know, there's a new
study out that actually details that the chinese have been buying up hotels which we know, they bought the waf do have a block and a half away from here -- >> right. liz: -- to use it as an opportunity to eavesdrop or american businessmen. this is why president obama will not stay at the waf do have anymore. this is where all the u.s. business people stayed or foreign business people stayed, and they had eavesdropping equipment in the basement. >> yeah, that's right. liz: the chinese, you've got the fed hacked, what's the biggest threat from where you stand in. >> you know, that's very interesting, because i headed a delegation to china a few years ago, and they wired my room vertically with all the people who were there with me. [laughter] and the lady who was with me was so frightened that she changed her clothes under a bed sheet. [laughter] this is so typical of the chinese. no, and -- but it's also, liz, a very typical democratic approach to national security.
you always pick enemy who best suits the weapons that you have rather than the enmy who's able to outthink you and outfight you like isis. so, yeah, clearly the chinese are being aggressive. but the long-term enemies this country faces as the chairman of the joint chiefs himself said are isis and russia. those are the top two, liz. liz: okay. we have a little bit more about paul ryan, the speaker of the house, saying he will vote for trump. here is what he has written on twitter: i will be voting for donald trump this fall. i'm confident he will help turn the house gop's agenda into laws. okay, congressman garamendi can. are you willing to work and work across the aisle if it were president donald trump? that's been the problem with president obama, there's been some intransigence. >> well, certainly, we have to work together and, in fact, we have worked together on transportation issues and several others. but the reality is the house republican agenda would gut social security and medicare,
and it would seriously create an extraordinary deficit as they continue their significant tax cuts mostly for the wealthy. that's an agenda that i don't believe the american public wants and certainly the house democrats would not want to go there. so, yes, there's always going to be conflict, but the question really is where's donald trump going to take this nation? what hillary clinton laid out in her peach, those are all -- in her speech, those are all his quotes within the last nine months. so where is this man? if he's anywhere close to those, it is, are you kidding, an oh-my-god situation. we just cannot even contemplate the proliferation of nuclear weapons. we just talked about iran and the effort that had to be made to stop them from developing a nuclear weapon. but yet this man said saudi arabia ought to have a nuclear weapon. well, if that's true, you can bet iran -- liz: all right. we've got to run. >> it goes on and on and on. liz: yeah. it certainly does, and on and on until november, and you both
will be back with us. thank you, congressman john garamendi, general bob scales, we appreciate it. >> thank you, liz. liz: closing bell, we're about 39 minutes away, the dow is holding on to gains of nearly 20 points. it's more interesting when you look at where we were this morning. we were all in the red, now we're in the green at the moment with the nasdaq and the s&p also positive. there are cloudy skies inside the box, cloud storage provider box reporting a showdown in growth. investors do not like that. box has 62,000 paying customers. that's certainly a good sign, but here's the bad part -- still hasn't shown a profit. ticker symbol box down ten and two-thirds percent. up next, will a stellar jobs jump lock up a fed rate hike in june or july? maybe september? maybe after the election? we're taking it to the floor show. our expert traders next on
. liz: we have more on speaker of the house paul ryan finally endorsing donald trump. this happened within just the last nine minutes, during hillary clinton's foreign policy speech. there is this. he had written a column today for the gazette, the speaker's hometown newspaper in wisconsin, maybe this is a hint. the house policy agenda has been the main focus of our dialogue. we, meaning he and donald trump, talked about the common ground, discussed how the idea can be a policy message. are you hearing an echo? he wants a president who will help him get certain bills passed into law here, the reforms are important to saving our country, we need to unite republicans, we can work together to heal the fissures developed through the primary. i feel confident donald trump would help us turn the ideas of the agenda into laws and help
improve people's lives, and here it is, folks, he says that's why i will be voting for donald trump this fall. so that is the breaking news that we just heard a few minutes ago. the dow is up 28 points. all three major averages trading in narrow ranges. they reversed. the dow had been down 86 points earlier. tomorrow's jobs report is driving the trade and also oil. so you have the move speaking to uncertainty in the market ahead of the all-important may jobs report. whatever happens there, you will start to see this next number start to gyrate, that's the fed funds futures bets. right now. we have a june federal reserve meeting, and we've got a july one. either one could be in play and here on the screen you can see, the chance of a june rate hike is the probability being placed 23% by the folks who bid on these thing. we're watching all of that. let's bring in traders. we need to hear exactly what they think and why they've seen this reversal, and a good
reversal if you're a bull, john corpina. the s&p was down 10 and now up more than 12. i say is this oil, something else? what do you think? >> i'm not too impressed with what we're seeing right now. this volatility, this lack of uncertainty in the market is not healthy for the markets. on tuesday, we had the same type of reversal. on wednesday back and forth. i would have thought coming into wednesday, thursday, friday we'd see a lot more activity. volume is low here today. so participation is really nonexistent. we're relying on tomorrow's jobs number. that's going to make an impact on this market. now that means. that doesn't mean the market is going to go up or down, but going to solidify what investors think the fed is going to do. you showed the fed funds number at 23%. the chance it was going to happen in june. probably much higher through tomorrow. liz: and higher in july. >> right. so why do something just yet?
it's either july or it's going to be after the election. i think those are the only two windows of opportunity that we have here. liz: joe, not too crowded behind john corpina. in the final 32 minutes of trade here. at the cme, are people reluctant to make bets but there is opportunity when we started the show, up 19 points for the dow, up 33 right now. the bulls are starting to gain traction here. >> definitely. as far as volatility is concerned, i have to disagree. i haven't seen the volatility. we had to pull back this morning but the weak hands were the shorts. the stops starting getting hit right away. you're seeing a real gravitation to 2100, 2105 level. that's what traders are focused on. we saw the momentum signaled to the upside when we saw small caps leading the way. if we to know see that, we'll see a stronger domestic numbers keep coming out and the bulls are
going to start challenging, and you could see a challenge of 24 year mark. liz: jeff grossman, this is interesting, in the commercial break we had taken, oil had been up, dipped into negative territory. this is the after-market. thinner volume here. we're looking at oil that's touch and go, this, after opec couldn't get it done again. this hope for some type of cap on output completely melted. so there's no freeze there. >> i'm not the slightest bit concerned about it. to me, as long as there is no talk of major price war or going to up the ante as far as production, this is business as usual. the market is going to go to normal gyrations, worry about demand, coming into driving season. i think the market is going to slowly creep higher where you're going to start to see inches is if we get to around
the mid 50s, or you see rigs coming back online. things are going to start to get hard for the market to work its way higher. this market is showing tremendous health, tremendous resilience. this took a very, very, what you'd say lukewarm, let's say report out of opec and holding very strong here. i have no problem. to me, the market is behaving beautifully. liz: three pennies higher, very strong. it's not that. we have been down 2%, seeing it move up. we just hit session highs john corpina, you were so kind to be with us, you might be missing out on making trades. up 35 points. that is the session high at this moment. thanks to john, joe and jeff. thank you so much. we love having you on. tune in tomorrow because that all-important may jobs report, the second it's out, but leading up to it, maria is doing her special that she does every time we see the special, jobs in america, what it means
for your money, portfolio and more, beginning at 8:30 a.m. eastern time. 29 minutes before the closing bell rings. one small step for man, one gigantic step for musk. the tesla and spacex chief announcing new details on mission to mars, when the rockets will get you to the red planet? listen i don't want to go to philadelphia, let alone mars, not happening. before getting to mars, getting to your summer vacation spot would be nice. long lines due to the tsa problems still causing outrage at airports nation wide. but private jet firm wheelsup says it's here to help. ceo and founder kenny dichter flying into the studios, flying private is not as expensive as you think, the way he does it. he'll explain how next on "countdown."
. >> reporter: plenty of headlines coming out of the conference from tesla ceo elon musk. for starters, when it comes to self-driving cars, he used apple as a threat and not google. in fact musk sees apple having vehicles on the road by 2020. separately, thspacex chief said the rocket compy will launch people to mars in 2024 with arrival in 2025. shares of tesla last check were down half a percent. saudi arabia will invest half a million dollars in uber, the influx of capital makes the most valuable private company. 62.5 billion. and never wait in line for chick-fil-a again. the fast food chain announcing the launch of new app, chick-fil-a one. more "countdown to the closing bell" is straight ahead.
. liz: boy, life has been very tough for air travelers. this happening just two hours ago. a bomb threat sent security officials at newark international airport scrambling this afternoon. law enforcement confirms to fox that a threat originating from a pay phone inside a terminal at newark, forced officials to quarantine a british air flight from london to newark. it was carrying 206 passengers. 13 crew members. arrived around 1:00 p.m. eastern. the minute it got to the tarmac, it was surrounded. they checked it, every single passenger. it was merely just a threat, thankfully, you add that to all the problems happening, the security threats, but then travelers facing very long lines at the tsa and growing wait times at airport around the country, putting together a massive headache and a lot of worrying while traveling.
the hope is now coming from my next guest who has, well before this, started to offer a remedy for the headache. started the company called wheels up, membership-based private aviation company. before you glaze over and say it's not for me, i can't afford private jet travel, it enables users to skip the nightmare tsa lines and skip the costs of flying privately. kenny dichter joining us live in a fox business exclusive. we have the situation in newark, we can show the video. i looked at it and thought this is so serious right now, what do you think of all that's been going on? >> i think it's a crazy world we live in. i think that anything is possible. i think the tsa lines and a lot of cases are warranted, and if you're a business person or somebody that needs to be from a to b to c, you can't rely on the commercial system anymore to be able to do that in a day, which is why wheels up is powerful as a model. >> you know, you wanted it to
be sort of the costco, that may be understating it. >> that's okay. liz: the costco of private jet travel. >> i would say for you the amazon prime, we're a subscription model for17,500 which is reasonable in our business, you can become a member. the annual dues are $35. we have the flying suv of the sky, the king i-350. 6700 still flying. it's a aviation product. liz: is that beechcraft? >> all part of textron aviation today. liz: you mentioned business travelers, tell me about what the businessman or woman is saying to you at this point. time is money, obviously. >> time is money, and tsa is tsa, and i could say they're doing a great job and it's a tough, tough job. it's going to take a few hours before the flight and a couple hours after to get yourself in and out.
we specialize on flights that are less than two hours. 80% of flights on a private platform are less than two hours in north america. the king air is the perfect way to get you from a to b to c, if you want to conduct business and want to get home for dinner. liz: and the empty seats on certain flights that people can scroll in an app so they can bargain hunt. you can't bargain hunt with private jet travel. >> we're taking private travel from the 1% to the 10 or 15% of people moving and shaking in the country today. the hot flights is every fleet that operates like we do has by product, the by product is the positioning of the empty legs, we give it back to members. for $295 can you have the whole airplane empty and check that on the app every day. great for engagement but more important great for business and retention. liz: 295 bucks, paying a 17 grand membership fee.
we want to stress that. >> correct. onetime. 8500 to renew. if you catch one or two of the hot flights for a year, you paid for your membership many times over. liz: venezuela, you haven't flown to venezuela. the commercial guys aren't doing it anymore. surely business people want to get assets out, they need to take the trip. are you looking at something like that? >> looking at a lot of different areas, whether we build it ourselves or franchise it out. we think western europe is perfect, for wheels up. the king air can take you from oslo to the south of france. venezuela in that upper south america is a perfect spot, the king air has been operating there for decades, and if we find the right entrepreneur, the right partner, we could be in south america tomorrow. liz: this is the second private jet company you started. the first one got to a $4 billion market cap. you sold it to warren buffett
and net jets. the economy, how do you see the economy from where you sit as a business person? >> i think it's a -- the u.s. economy right here is in a -- i would say first gear. i'm expecting slow growth. you see china slowing down which affects the commodities and the oils and everything else like that, but i'm bullish america. i got say we sold our business to warren buffett, warren believes the economy is going to be better five years, 10 years, 20 years from now. i think america is a great count we. we have our ebbs and flows here. 5, 10, 15, 20 years out, america is worth a lot more than today. i see it in my business every day. we're a country of optimists, and optimism is many times a self-fulfilling prophecy. liz: i agree, and you started your business during a recession. look how well you've done. kenny dichter, a friend of your program. you got to hear the breaking
news we got. fox news has confirmed that an air force thunderbird that was part of this flyover at the air force graduation in colorado springs has crashed. the news is that the pilot did eject and is alive and safe, but one of those thunderbirds that did the air force flyover at the graduation in colorado springs where president obama was speaking did crash. we'll get you more details as they become available. the good news is that the pilot was able to eject and is just fine. dow jones industrials up 28 points. the closing bell ringing in 15 minutes. they may have been rebuffed but isn't stopping bayer from stopping a deal with monsanto. charlie gasparino digging into the stories since day one. through the earth, through the manure, through all of it, and he's got it, the latest as bayer looks to plant its stake further.
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and start gathering the information you need to help you keep rolling with confidence. go long™. ♪ . >> he is temperamentally unfit to hold an office that requires knowledge, stability and immense responsibility. [cheers and applause] this is not someone who should ever have the nuclear code because it's not hard to imagine donald trump leading us into a war just because somebody got under his very thin skin. liz: that's straight out of lbj versus barry goldwater. hillary clinton moments ago. donald trump wasting no time jumping to twitter and tweeting, quote, bad performance by crooked hillary
clinton exclamation point reading poorly from the teleprompter, she doesn't even look presidential. that just came out. and then we have you. >> listen, i am horrible at reading the teleprompter, you're amazing at it. liz: thank you, 27 years later. >> donald is not that great at reading the teleprompter. liz: it's not that easy. try reading this intro. do it. >> a deal between bayer and monsanto is slow to develop. liz: you are squinting, and lifting your chin. >> i'm imitating you, on what's behind the scenes. [laughter] >> exclusive details. today bayer secured a $66 billion loan to fund its possible merger with monsanto. liz claman has more details. liz? liz: i don't know what that was, but -- >> i was imitating you. liz: let's get to the bayer
deal. >> you say bayer, i say bayer, this is in forebearance, we're in a holding pattern right now to the public, but behind the scenes there is a lot of stuff going on. sources are telling the fox business network bayer continues to meet with investors on the deal to shore up support from investors. the stock has gone down, you know the monsanto stock has not gone up enough. the monsanto stock today, on a kind of upday is down 58 cents. liz: so, the deal is for 122, right? >> right. people are betting it might not happen. here's what we know, bayer is continuing to meet with investors on the deal. bayer is signalling in one investor meeting yesterday, they may only marginally increase the monsanto bid. $62 billion deal, did i get that right? ask brad. liz: keeps changing because the market cap. >> they may only marginally increase. looks like they're going to increase it but signalling to
investors there is not a lot of room on the upside, it's all cash. here's an interesting thing at one of the investor meetings, the bayer executives signaled they may conduct due diligence on monsanto, which means, this is what happens. you have broad deal talks, you launch a bid the company as monsanto says, go pound sand, we want more money. and they went back and got financing for the deal. banks have agreed to give it 65 million. but the next part is when you start talk, that's when you do due diligence. what bayer is saying, they expect there to be official talk real soon, that bayer at some point -- monsanto is going to open their books to them. that's what they're signalling to investors, the deal is proceeding. liz: for people who don't own either of the stocks, the reason this is such an important story, this is a huge
purchase of a foreign company of u.s. brilliant agriculture company. >> they're out there. liz: this would never fly if the germans switched with the chinese? >> probably. we did speak with the mayor of the town in the st. louis suburbs at monsanto headquarters. he's worried if the germanyans buy up monsanto, does the employment of the area suffer? there's that story. there's the story about gmo's. liz: genetically modified organisms. >> we need to create more food for the planet. hard to grow organic food and feed the world on whole foods. this is a huge deal. this is -- could this be a $70 billion deal. affects a huge part of the big company stocks of the s&p. this is big, we got to keep an eye on it. looks like behind the scenes,
♪ liz. all this you see on the screen in this banner here, what you see with dow, nasdaq and s&p could all change at 8:30 a.m. eastern when we get jobs report for may. it could show a swing either way, either direction. we're expecting a job build of what, 162,000 i believe, for non-farm payrolls. if you're an investor with a little lump cash right now, is tomorrow the day to get back? joining us is christopher zook,
kaz investments. half a billion in invests. you're doing just fine. what do you say to investor who says we will have pretty decent job gains? jump in now. >> i think jobs number will be pretty good. i think now is not the time to get in. liz: why? >> we could go higher but there little will be a lot of risk on downside. i anginaty there will be volatility. i think there is much better entry point than tomorrow. liz: we had been down 80 point with the dow jones industrials. almost as investors are betting the number is as you say will be good. why wouldn't you get in at this point? i notice your biggest positions involve silver and involve gold. you like coca-cola. you feel decently about oil. why? >> we liked oil a lot january 18th when we said buy crude oil. we don't like it too much now. to go back to your question, maybe you can trade the number tomorrow. for investors, be patient, there will be time next six months you
get better entry point. don't chase expensive. look for cheap. i think we'll get that next six months. >> liz: i often avoid asking guests about rear view mirror stuff. what has been your best investment last year that paid off best? >> going long crude oil in january. liz: wow. >> we bought crude oil in 26, $28 range. we exited position in high 40s. we think we're in situation where 35 to 55 we think is the trading range for at least probably next to eight to 12 months. liz: how close will you watch the federal reserve? >> we watch it closely. it will impact the dollar and everything in our portfolio. we would be surprised if they don't move in july, probably not june. from there we think we'll get more and more volatility as expectations build for potentially more cuts or increases, excuse me. liz: wonderful to have you. kaz investments. thank you very much. dow was seeing close to session highs right now. that may be it.
up about 38 points. nasdaq makes it seven wins in a row. that is the longest streak in 16 months. [closing bell rings] david and melissa for "after the bell." david: stocks ending in the green. dow and s&p up second straight day in a row. nasdaq, longest winning streak in 16 months. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have big names on markets. here is what we have coming up this hour. hillary clinton attacking donald trump during one of the biggest policy speeches of her 2016 campaign, calling his ideas dangerous for the security of our nation on a day where he is getting a major endorsement. clinton making her comment from san diego, california, a state where she may be in trouble according to a new poll. that is why her campaign is staging an all-out blitz holding more than 30 events in five days. david: wow.