tv Countdown to the Closing Bell With Liz Claman FOX Business July 19, 2016 3:00pm-4:01pm EDT
dobbs, and i'll be leading prime time coverage starting tonight at 9 p.m. eastern. we have a very special guest who's going to react to what he hears, carl icahn, the man donald trump wants to make treasury secretary. you don't want to miss it. it's a packed evening, and i'll be there live from the convention floor. liz claman, over to you. liz: excellent, thank you so much. controversy and confusion in cleveland at this hour. america waiting to see if donald trump will utter his most famous words, will he say you're fired to his wife's speech writer, and if the never trump camp will crash the grand old party's party. day one, of course, yesterday, did get sidetracked by that speech from melania trump, allegedly lifting some passages from a 2008 speech by current first lady, michelle obama. the campaign deflecting, dodging and finger pointing. so day two, here we are getting underway a little later this afternoon, you're looking life
inside quicken loans arena where tonight could there be even more controversy? we've just gotten this, rnc officials confirming to fox news they are looking but still have no idea what's going to happen tonight from the never trump camp. what are senator ted cruz's intentions or his loyalists going to do? the traditional roll call of states set to unfold this evening with speeches focusing on jobs and the economy. the theme today, making america work today. lou dobbs has a front row seat to history there in cleeland. we will ask him about the buzz around the melania speechgate -- yes, it's a gate already -- and the much-awaited speech by house speaker paul ryan tonight. by the way, wait until you hear what ryan told a wall street luncheon about donald trump. plus, the former mayor of cleveland, dennis kucinich on how the trump coronation must recover from somewhat of a rocky start.
on wall street a pitched battle right now between the bulls and the bears as earnings results dominate the session. can the dow jones industrial average notch its sixth straight record? folks, we're there right now, and that just developed in the past couple of minutes. with less than an hour to the closing bell, i'm telling you, you're in the right place. let's start the "countdown." ♪ ♪ liz: and check this, okay in three, three points is what the dow is moving higher by. in the last 45-50 minutes or so the bulls actually snatched the baton right out of the bears' paws. for the moment we have only the dow moving higher by three points, but that is another all-time record if we close there, the s&p down five points, the nasdaq down 23. but again, we're watching this closely because all day long we were in the red. a part of the reason, goldman sachs, it might be why the bulls are stumbling a built as they
head to the finish line. the financial giant did beat the street on second quarter earnings. gang, profits climbed 77%, but wall street is a funny place. they had a higher number in mind, so the stock is moving lower by 3.5%. -- 1.5%, that is a drag on the dow jones industrials. and darling yahoo! and its leader, marissa mayer, dealing another blow after yahoo! fell short of street expectations, but the stock is still up by a third of a percent. much-awaited announcement of those still in the running to pick over the bones of what's left of yahoo!, that never came. mayer was supposed to talk about it on the conference call, she basically said, move along, nothing to see here, but it's supposedly down to quicken, at&t, verizon, we shall see. all of this drama, is it giving you a headache? johnson & johnson came in with healthy results, beating wall street earnings expectations,
raised its 2016 sales and earnings forecast. the health care giant credited strong prescription drug business for the results. so shares are reflecting that at the moment. let us get to the drama at the republican national convention dominating the headlines. we've got team fox business coverage all over cleveland. look on our screen. peter barnes on the floor of the quicken loans arena, he's watching for floor skirmishes from the never trump camp. blake burman in downtown cleveland on how stores are dealing with the much-welcomed boost in business, and jeff flock ahead of a big rally in public square which is right there in the heart of cleveland. so here we are, day two of the republican national convention set to get under way later this afternoon. the theme, as i just mentioned, making america work again. day one focused on making america safe again. american national security had a parade of speakers including rudy giuliani discussing how to make america safe. the speakers including the mayor
who said the vast majority of americans today do not feel safe, and donald trump, he says, will help make us feel safe again. pat smith said trump will make america stronger and that hillary clinton cannot be truthful about the events that happened in benghazi in 2012, and lieutenant general michael flynn gave quite an impassioned speech about americans heading our enemies head on and recognizing our obligation to the world with integrity and strength. but there is so mu talk about melania and all this other stuff. but for me, one person who really stood out was former u.s. navy seal marcus luttrell who challenged the millennials in the audience there and anybody who might be watching in this comment in his speech. listen. >> i stand among you walking, i was allowed to walk with giants, all right? and now we're looking for the next generation of giants. who among you will love something more than you love yourself, all right? who among you are going to step
up and take the fight to the enemy? because it's here. liz: peter barnes is there on the floor of quicken loans arena, keeping a hawkeye out, i guess for my breaking developments. -- any breaking developments. yesterday we had the cruz loyalists trying to get a roll call. what are you hearing on the floor there? might that happen again? >> reporter: yes, liz. i actually have talked to some of the never trump people here, and during the roll call tonight to formally nominate donald trump as the republican presidential nominee, some of the never trump people plan to try to at least draw attention to their cause which is a lot of these folks were for ted cruz. they were unhappy on how all that ended up with their candidate. and in some cases some of the states now are bound 100% for donald trump, but they have an opportunity under the rules to actually stand up and protest. so there are delegates from, i hear, five states -- washington
state, maine and some others -- that may do that. we'll be watching that tonight. we're also getting reaction to melania trump's speech last night at that podium right behind me. a as you know, this controversial as to whether or not some of her speech was possibly plagiarized from a 2008 speech by michelle obama. paul manafort, the trump campaign chairman, addressed that issue in a press conference this morning. listen. >> certainly, we've noted that the clinton camp was the first to get it out there and trying to say that there was something untoward about the speech that melania trump gave. it's just another example as far as we're concerned that when hillary clinton is threatened by a female, the first thing she does is try to destroy the person. >> reporter: manafort was also saying, listen, melania trump and michelle obama, they both share similar values about family and other issues. no surprise that there might be some at least similar language. some critics are making a
mountain out of a molehill. liz: peter, let me just say, howie kurtz of fox news is crediting an interior designer sitting at a starbucks in los angeles who was listening to the speech. so paul manafort going after hillary clinton, he's getting some criticism by doing that. are you hearing anything about that? >> reporter: yeah, that's right. because they're trying to say that the clinton campaign was planting some of this criticism, and so you are hearing the trump campaign try to turn it into a political issue, saying that this is just political. liz: gotcha. if you go on foxnews.com, howie kurtz says it was just this guy sitting in a starbucks in los angeles who was listening and started tweeting about it. peter, thank you. we're still in cleveland, folks. what's happening is we want to the take the story outside where cleveland is open for business. the convention crush is already
boosting cleveland's local economy particularly for businesses just outside the convention's perimeter. and that's where blake burman is. he's right there in cleveland on east 4th street which is a busy pedestrian street with a lot of restaurants and stores in the shadow of the convention hall. give us a sense of how they're faring. >> reporter: it is, indeed. we are in the middle of this, liz. i know this is your city. i wish you could be here with us. take a look at this, this place is packed right now. we've been talking to a lot of these restaurant owners, managers, store owners and the like, and they tell us that business is going well here. it's not really a one-size-fits-all kind of thing. we've heard anywhere from somebody told me their restaurant was up 25%, i heard another person say just about three times as much. the big number here though in cleveland, this area, is 200 million to 250 million because that is what they are projecting to make on direct spending from all of us here spending all of this money over this week or so.
take a listen here to one owner just down the road there, we spoke to an owner inside the arcade, and he told us he's doing very well. >> we were three times, three times more for lunch business. you know, it basically is the revenue that we had for game seven of the cavs, is so it's been fantastic for us. >> reporter: you heard him reference game seven of the cavs. liz, most everyone we've talked to here, the owners of these businesses, have told us it hasn't just been this week that they're lookin last week that was really good for them as well, they say this has been about a month straight going back from the cavs into the rnc. it's been a really great month for them. liz: i told everybody, they call it the mistake on the lake, i call it best location in the nation. [laughter] >> reporter: i've been looking, liz, for a lebron for president stand. [laughter] i haven't been able to find any of those, but i bet i'll find one. liz: i know you will. thank you very much, blake
burman. we're ping-ponging outside, inside, but you're looking at live pictures inside the quicken loans arena. we have a stacked lineup for tonight. senate majority leader mitch mcconnell, house speaker paul ryan, governors chris christie and dr. ben carson will take the stage. the topic of day two, hits on business and jobs. but will speakers have to work around a june jobs report that actually came in with a huge beat? that marked 76 months of straight gains. it's seen as one more notch in the job creation belt for the obama administration that hillary clinton -- look, no doubt will point to. what tone must be struck tonight? lou dobbs is live right there at the convention center in cleveland. and before we get to that, lou, day two -- and this has been one fascinating convention already, filled with developing stories, but peter barnes just reported on the never trump group, the so-called cruz loyalists. and his report is he's spoken to these people, they say they will
try again tonight to do during the roll call what they did yesterday, and that's get cruz's ooh name in the nomination. what are you hearing? what's going on? >> well, precisely what peter is reporting. there is no, no suggestion on the part of the never trump people that they're going to simply acquiesce now and accept their fate based on the vote for the delegates. they're overwhelmed here, liz. no one should make any mistake about it. steve womack leading the way, gaveling through yesterday two voice votes instead of a roll call vote. look, cruz -- no one understands his motivation really because he begins to look very bad, very small. and we do understand when ken cucinelli, the former attorney general of virginia, says that he just wants to be heard, you know -- liz: yeah. and by the way, lou, we showed him just now throwing his credential down on the floor which was, you know, the drama moment.
>> they want to relitigate it. yeah, they want to relitigate it, they want a revote, and there won't be one. the trump people have been pretty nice. paul manafort and reince priebus had been very accommodative. this was, this was i think as the british might say i'm hanging around varney too long, you know? it's bad form. [laughter] liz: bad form. okay. let's get to the night's speakers. paul ryan slated for tonight, but just yesterday he was at a "wall street journal" luncheon in cleveland and said, quote: trump is not my kind of conservative. but then he called upon republicans to rally behind trump nonetheless. sort of faint praise. what are people saying about that message and what they are expecting more tonight? for tonight? >> most of the congressmen and women i've talked with here in cleveland, liz, they're trying to avoid the answers you might suspect. they're trying to avoid the conflict that paul ryan deeps presenting -- keeps presenting them.
and it doesn't even really matter too much about the level of enthusiasm for donald trump. the reality is, again, ryan has become -- he is the skunk in the room. he continues to assert his agenda that he has put into competition with that of donald trump. that will not happen. and so all he is creating is unnecessary friction. and, again, himself, he looks smaller, and he will look smaller still when the inevitable occurs and donald trump's name goes into nomination tonight. it is peculiar, the cross-currents that are taking place. but i'll say this, it adds more dimension and more life and clearly demonstrates that the republican tent, liz, is getting much bigger as donald trump has brought in more voters. liz: and it's great, because we're all there, you guys are there covering that. speaking of adding friction -- >> you bet.
liz: -- or at least extending friction, speechgate. we can't go without talking about this. and here's why, and it's kind of starting to annoy me when people say, oh, it's just the mainstream media. it's the front page of foxnews.com. drudge report which is not mainstream has it. "the new york post" had it last night. what appears to be overlaps, in some cases word for word, melania trump's speech with michelle obama's speech back in 2008. you know, it's not so much that, i'm calling that a cotton candy crisis because it's really kind of light and not much substance. what does have substance, lou, is that you have paul manafort calling it bogus which only extends it, because there are people who are looking at this saying it does look like it was an issue. track it down, figure it out, fire somebody or deal with it. you even have howie kurtz of fox news calling it a colossal disaster. >> yeah. well, i would not, certainly, ever argue with howie kurtz on the dimensions and the size of disaster.
i would, however, if i may, try to put into context what occurred. there was similarity of language, without question. but ironically -- and people are not focusing on this -- melania's similarity of language to that of michelle obama ignores michelle obama's similarity of language to that of saul olin sky from his rules for radicals. it is, language is a very difficult thing to take ownership of. in point of fact, these similarities occur. joe biden has said, come on, let it go, everybody does this. he should know, he did it. [laughter] he did it quite often. liz: it's very, very common, we know that. >> i think what we're watching here is also an attempt on the part of some people to ignore the fact that there are writers involved here. neither barack obama, nor michelle obama --
liz: sorry, but does it speak, does it speak to the management -- >> -- or melania trump, none of them wrote what they put forward last night. liz: we got that run, but does it speak -- look, it's make america work again. does this campaign need to be managed slightly differently? >> i think right now this campaign is being managed beautifully. day one. they are in control of this convention no to matter what. you know? be no matter what anyone says. and they are demonstrating that with a majority, democracy works. they're going to get to their goal, and their goal is to get the nominee nominated here tonight and to get into the campaign so they can take on the real issue which is hillary clinton. and we have only begun to go through some of her, well, let's say misappropriations of not just language, but of much, much more. liz: we shall see. lou, thank you. lou's got a special edition, by
the way, tonight so make sure to tune in to that. two hours from the republican national convention. he'll be dipping in and out of speeches, it all starts at 7 p.m. eastern, and then we'll have more from the convention center. nobody knows cleveland like this guy, dennis kucinich live on all the convention craziness. we'll be right back. ♪ ♪
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liz: okay x. we found this interesting because up until the 2 p.m. eastern hour, the markets were slightly submerged in red, and what do you see mow? the dow is popping its head out of the soup, trying to stay there. the dow is right now up about 12 points. so we're going to be watching that very, very closely. that is an all-time record once again. and we need to check back in on netflix because after the bell yesterday, they totally whipped on earnings. specifically, reports that they did have subscribers that definitely did not match what people expected, so that was a mess. and then we have reports that the u.s. antitrust officials would seek to block mergers in the health insurer space, aetna wants to buy humana, these names are all in the red, they are weighing the dow down, humana down nearly 4%. the international monetary fund today cutting its global growth forecast for the next two years, blaming the u.k.'s decision to leave the european union.
and by the way, that's the fifth time in just 15 months that the imf and christine lagarde have said we've got to slice and dice that number down. so should investors step back or dive in because this, too, shall pass? let's bring in our traders from the new york stock exchange, cme group and the nymex. you scared of buying stocks right now? >> no, no. i think the market's putting on a remarkable performance. big week last week, today's sort of anemia, but we're kind of -- anemic, but a we're kind of consolidating at the all-time highs instead of some kind of 3 or 4% pullback. and we're in the middle of earnings season, clearly the trend your friend, and i think the trend is higher for the market. liz: and, look, june housing starts came in, folks, when they actually break ground to build a new house. those were up 4.8%, larry shover, i'm a little surprised we're not seeing a better move, but coming off five all-time
record highs for the dow, i'd be amazed if we saw a sixth day. >> yeah, i'm amazed too. it's like overall there's this -- the tone of the tape is a steady rhythm of confidence even though we're not seeing it much today. you know, brexit is in the rearview mirror, we have a grab for growth stocks, something that we just haven't seen in a very long time, an overzealous earnings season. people just think the world of what's going to happen this earnings season, and also the u.s. dollar, the strength of the dollar, the weakness in the oil prices are behind us, so there seems to be a lot of confidence in the market. not seeing it today, but today is a really sisterty day. the -- sturdy day. the markets fully acknowledging the next two weeks are going to be politically filled with a myriad of events coming out between fomc, bank of japan, stress test in europe, all starting next monday. liz: you're stress testing me, larry, with all that. [laughter] it's a lot going on. jeff grossman, oil pulling back
again. this is about tomorrow, because we're getting the inventory numbers again, this would be the ninth week in a row of drawdowns, but still we've got oversupply that's spilling over in all of the storage tanks in america and elsewhere, right? >> it's hard to put a positive spin on the market of late. like you said, there's still inventory issues that are coming into play here. the only thing you can say from a technical standpoint, the market is still holding a major pivot point here which is $44.50. but again, it's going to need some serious help. this is one of those make or break inventory reports. we're going to need to see some drawdown in those gasoline inventories because this is where driving season was supposed to pick in. we're two weeks past the july 4th weekend, and it's supposed to be reflected in some sort of consumption here. so far we haven't seen it. the market is telling you it's probably not going to be the kind of number we want. but again, as i always say, sometimes it's darkest before the dawn, so we'll see, maybe
we're in for a little bit of a surprise. maybe there's a bit of a knee-jerk reaction tomorrow. liz: you plagiarized that. i've heard that before. i'm kidding. >> i have melania's speech writer. [laughter] liz: oh, well, listen, we're just having fun here. great to see you, teddy, larry and jeffrey. thank you so much, we appreciate it. and microsoft, this is a biggie. it's expected to report earnings after bell. david asman and melissa francis will have all the numbers at 4 p.m. eastern time immediately following "countdown." mort is down 1.75 right now. with the closing bell 34 minutes away, the dow is still up nine points. we're watching this tick by tick. and, look, it's no surprise that security at the gop convention center is even tighter at this hour. so far all has been safe and secure, but are there new challenges ahead? jeff flock is live in cleveland watching it step by step. jeff? >> reporter: potentially so, liz. you're looking live at a picture --
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. liz: we need to go to our camera in public square. there it is. what you're looking at is in cleveland and we're expecting about an hour from now, maybe less than an hour from now an antitrump protest that is led by princeton university professor, jeff flock is right there. jeff, this looks like a pretty sizable crowd. >> it's a big crowd and the communists aren't even here yet with west. this is a group of trump supporters, and maybe you can hear some trump supporters and some antitrump folks, and it's getting a little heated there i would say as we look at it. it is right in front of an art installation, maybe larry comes over, and he gets a picture of this. the artist was here, she's putting down these cards that have, you know, various messages on them.
i would say it's fair to say an antitrump more of a let's all get along but trump is not the answer. art installation. as i said in the meantime you've got people who -- and you see the police chief, the chief of police for cleveland standing over there and the police had been in evidence all along here any time these debates break out between pro and antitrump forces, they're listening, standing by, we haven't had any violence yet this week. we've had no arrests in connection with anything like that. so so far so good, liz, but, you know, it's tuesday. what can i tell you? . liz: can i call an audible, jeff, can you hear us a little bit of what they're talking about? i would be interested to hear a bit of that. >> it's difficult to get over there. i don't want to step on the installation if i can help it. but let me just stick it in and listen. >> we don't get it to get heated. >> police officer talking to them. >> i'm concerned.
i don't want you getting hurt. all right. >> maybe you heard him say i don't want you guys to get hurt. so the police are doing everything they can to diffuse it. liz: you know what i find amazing, jeff, that williams, who's the chief of police is in that crowd among his officers. i think that's amazing. i think that's incredible. >> and he did that yesterday. here he is right here. that's chief williams. here let's -- >> thank you for sending officers out here for us. i know i've got you. but what i was able to do over in dallas -- >> you heard this guy is from dallas. liz: jeff, i would say this is extraordinary. i mean people can walk up and speak to the police chief, calvin williams has gotten great props in the way he's been handling the situation.
again, for those of you just joining us, this is a mixtures of both trump and antitrump people, no barricades, they all have their permits. our cameras are right there watching this and chief williams is talking to anybody who can come up to him. so thanks to jeff flock. >> and the difference, it's made such a difference. there was anger and people kind of screaming at each other, the chief came in, the police came in, and we've got some degree of calm. so i think that the police have done really an excellent job out here so far. liz: i second that motion. look at jeff, he's squished in the crowd and props to our photographers and the entire staff from fox business. >> larry did a nice job. liz: committed to covering all sides of what's happening in cleveland both pro, both against. so any time we have any kinds of pictures we're going to try to dip in for that for about 26 minutes before the closing
bell rings, the bulls have run a little bit further to the front line here. we're up 13 points now for the dow jones industrials and 18,546, we still see the s&p and the nasdaq lagging at the moment just having a little trouble managing to get to the flat line with the trump convention already filled withstand out moments, we're not even two days in. none bigger maybe than billionaire businessman grand entrance last night before introducing his wife. donald trump kind of channeling his inner beyoncé with the smoke and the lights and the drama as he looks to quote upgrade to the white house. that of course sabines song. but the lakers do that too with the smoke and the dark white. i love it. we're about to take you back to cleveland because it's former cleveland mayor and former florida senator will share their thoughts on trump's showmanship at the gop convention. but also the controversy that's developing and has developed there.
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. liz: so up until last month we've been reporting this. donald trump struggled to rake in the cash for his campaign. he was self funding, but it now looks like the republican national convention might be providing more fertile ground to grow money. so whose the trump campaigning corresponding to help in his fundraising efforts? charlie gasparino right outside the convention center with some exclusive details. who's giving money, charlie? >> actually not that hot compared to four years ago in tampa.
that was hot for the republican convention there and as you know, liz, we're going to be in philly next week to give you the same sort of, you know, insight from the donor class on the democratic side. but here's what we're getting from my republican sources, and we should point out tomorrow we'll get the june fundraising report that's scheduled to be released for donald trump and for hillary clinton tomorrow. so we'll see what they did through june tomorrow. but here's what i'm getting now is that the trump money guys, and i'm talking to them, they're all here, scouring the bushes for every dime they can squeeze out of these guys, out of potential donors. they say the money is starting to flow in amid this convention. there are separate fundraisers taking place here in cleveland. we should point out that lou isenberg, the port authority of new york and new jersey held a fundraising lunch earlier today, i believe it was a lunch. yes, earlier today. trump himself is scheduled to hold a fundraising lunch on thursday.
so he's obviously getting into the act. so what they're saying to me, what the money guys are saying to me is, like, they are now getting the cash, the cash is coming in, whether it's going to be able to match what the clinton machine should produce, which as you know has a goal of about a billion dollars, the trump people tell me here that their goal is much more modest. if they can finish the election raising about 3- 400 million they think donald's ability to use social media and other free media opportunities that they're going to -- that they can match her. but take it from the source. and i'm not saying i agree with that. but they say they're well on their way to getting that 3-400 million and they're getting a boost out of the campaign. now, a lot of stuff is going on here. a lot of categories surrounding melania trump's speech as you know. there's a lot of cross messaging. the convention as they start off essentially by the never trump forces to try to get
some, you know, ballot maneuver by conservative not somebody vote independents would be the next nominee ie ted cruz. so there's a lot going on here whether that hurts the fundraising efforts in the end, i can't tell you. but as of -- with the donors are telling me and what the fundraisers are also telling me also known as bundlers because they bundle together a lot of cash, they're successful out here. back to you. liz: good to see you, charlie. glad it's not as hot as it was in tampa. >> by the way, -- liz: we just hit session highs, charlie, isn't that cool? >> i'm in uniony bonds. i don't care. liz: true reporter. great to see all of you. charlie, thank you. the dow is up about 17 points. session highs up 18. here we go. i told you there was a pitch battle between the bulls and the bears. coming back, though, today's theme at the republican national convention making america work again is very familiar to the guys on the
floor of the new york stock exchange and anybody who runs companies. mark has nearly 4 billion under management. why he's piling into names that are all about heavy duty stuff made in the usa that makes the world work again. stay with countdown, he's going to give some names. and there you go. live from cleveland, some protest videos right now, and although a little bit of loud voicing there. bullhorns. and as we understand it, the chief of police of cleveland is in that crowd hoping that cooler heads prevail, and he's hoping to do that. stay tuned. more ahead
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name out there and trying to force a roll call vote on convention rules showing a little bit of division and this is just moving on politico, the never trump delegates do threaten chaos at the nomination vote tonight, so we're keeping you posted moment by moment. this is the dow just hit another session high. lori rothman we're climbing again up 21 points as we await microsoft earnings. >> yes. microsoft and ua and united airlines. so microsoft falling a little bit ahead of the report here. earnings per share expected to be down over 3% this time last year. revenue expected to be about the same. the issue with microsoft is that it's struggling to grow its cloud business, the strategy is to offset its sales and obviously demand for windows operating systems. quickly on ual, this is kind of an interesting strategy here because they did not benefit from cheaper fuel costs because united is lower affairs and pay their employees more. so that's really hurt what analysts are expecting for
their earnings down 22.5% this quarter, that's the expectation compared to last time this year. liz: lori, thank you very much. the dow is up 21 points with today's convention theme make america work again. what better moment with just two and a half minutes before the closing bell to hunt for companies to put america and your portfolio to work. 3.7billion under assets in management. mark joins us with a couple of names for an ironclad portfolio. i haven't heard people call for steel names in a long time, but you like steel. >> well, you know, we came in the year, liz, really loving all things commodities. you know, the cure for low prices is low prices. and steel prices hit rock bottom and then on top the administration passed some nice tariffs and steel has exploded. u.s. steel, ak steel, new course steel, they've been great. also down permian in the basin, fame, my favorite ticker of all time and then
cliff natural resources and fcx, the copper companies. look, any company that came close to going bankrupt but didn't go bankrupt, the returns can just be explosive because these equities turn into options. liz: i get nervous. that's the bar? any company that came close to bankruptcy but didn't, i hear what you're saying. right now we're at session and also all-time highs. historic highs. is it surprising we may see a sixth session in a row where we see another page in the history books ripped out and scribbled in? >> no. look, summertime is always low volume, a lot of people on vacation. it's tough for the short sellers out there to stay in -- in the game, and we tend to see these kinds of -- once you hit a record, you hit record after record after record for a little while and then come fall, we'll see how things shake out. but summertime is usually pretty good time for stocks. liz: well, it's a great time right now if you're a bull, guess what, mark, we are
triggering our fireworks again it's a new all-time record high and climbing, folks. the bell is already ringing we're going up 27, 28, moderating around there. and, boy, what another day here. the s&p couldn't quite make it nor the nasdaq. there's the closing bell, david and melissa, can pick it up here for after the bell. microsoft and more. guys. david: and there is a lot of excitement on wall street. again, you see a couple of red arrows but focus on the green arrow because that is a record high on the dow. other markets were mixed but at least for the dow things are great, and we're expecting numbers for microsoft for the fourth quarter. that's how any segment we'll bring it to you live. i'm david asman. melissa: and i'll melissa francis, we've got you covered on the big market movers but first here's what we have for you this hour. we are just two short hours away from the delegate vote to officially name donald trump the republican nominee. sources just telling fox, th