tv Countdown to the Closing Bell With Liz Claman FOX Business July 22, 2016 3:00pm-4:01pm EDT
ashley: we are continuing to follow those developments in germany. a manhunt continues. liz claman, over to you with the latest. liz: yes. and we do have this news out of a german newspaper, build, this is the widely-read newspaper. apparently -- and, again, these reports are very fluid at the moment -- one of the gunmen has possibly killed himself. but we do at this hour, and you can see police running everywhere, murder, fear, panic gripping germany's third largest city at this hour. munich, there's no other way to describe it, folks, is under siege. this massive manhunt for three gunmen, one of them may have killed himself in the last couple of minutes. it is developing at this hour. here's what we know. munich police confirming that shots were fired at to limp ya shopping center -- the olympia shopping center. more than 900 stores, about 135.
it's a two-story structure filled with lots of tourists, lots of people. it prompted a massive police response. there are reports -- again, we don't have anything official here, but reports of six dead, many injuries, multiple suspects still at large. and why are the streets completely empty? because police have shut everything down. local metro stations evacuated. everything has stopped. no bus service. police are searching for the perpetrators around bavaria's largest shopping center, but they are also spreading out at this hour other locations in the city. you're looking at a live picture courtesy of sky news. here's more video of what we're seeing with more police running. authorities are asking people to, please, stay away from public places. in fact, we've gotten reports that police are calling individual wizs in the -- businesses in the area one by one and telling them to, quote, lock the doors, don't let anyone in, don't let anyone out. again, i stress to you this is a very fluid story.
as it develops, i will continually interrupt this program because we know that this matters. it is on a major international stage. munich right now under siege at the moment. and as we keep one eye on that breaking story out of munich, we do have the major averages on track to close higher for a fourth straight week. even the specter of next week's federal reserve meeting on interest rates, we have the nasdaq managing to touch a new 2016 high. that happened earlier today. the 2016 high? 5,103. the nasdaq is still charging ahead, and we do have the dow up about 38 points. that's a new record, trading at its highest level since december 29th for the nasdaq. we do have one sector pushing the markets hire, telecom, but not for what you would imagine were the reasons. verizon has emerged as the likely buyer of yahoo! assets. sources are saying that a deal may be reached in the next few days. so we have verizon moving higher by 1 president, yahoo! doing the same -- 1%.
the core internet business is the real gem here. the value close to $5 billion, that's according to people familiar with the matter, so both of these companies' shares moving higher at the moment. and so much for the death or dying of manufacturing. while shares of these four names are mixed at the moment, with ge and honeywell down, these four companies all just reported better than expected earnings. general electric seeing a sharp rise in adjusted net income thanks to aviation and and power businesses. we have the aerospace parts maker honeywell reporting better than expected quarterly profit. tex terror, and if you don't know, this is a private jet maker, they make cessnas and helicopters. company's aviation unit grew 6.4%, not bad for jet deliveries, and heck, throw in whirlpool which thanked the hot housing market for boosting its u.s. sales, issued an optimistic forecast for the year. so not all doom and gloom for manufacturing here with the dow up 37 points. let's get to politics and no
shortage of news the day after donald trump formally accepted the republican nomination in cleveland as the balloons and the glitter fell down. trump today standing up once again, thank his supporters and volunteers while standing alongside indiana governor mike pence. he did revert to ad libbing, he's off the prompter, before blowing out of cleveland. he blasted texas senator ted cruz saying even if cruz endorses him, he will not accept his rival's tip of the hat. president obama then just a few hours later took exception to trump's depiction of america last night. at a news conference with the mexican president, president obama said the america he knows is not the one he felt that donald trump described last night. the president saying america is not on the verge of collapse, chaos or in ruins as trump outlined in his speech using some of those exact words. now, at this hour this is also developing. it appears hillary clinton is this close to choosing her
running mate, virginia senator tim kaine is sort of the leader here at the moment. the horse that's ahead looking more and more likely the choice. so we've got team fox business coverage. adam shapiro in tampa ahead of a clinton event there. she just finished in orlando, so she's headed to tampa. peter barnes in clearland, and kevin corke at the white house with president obama's reaction to trump's nomination speech. but as we continue to talk about this issue with the vice presidential choice, at any moment now hillary clinton's pick for vp could be revealed. clinton has been vetting these candidates, but many say -- look at all these on your screen -- but many say that the list habanerod down to just three -- has been narrowed down to just three remaining names, virginia senator tim kaine, u.s. secretary of agriculture tom vilsack and new jersey senator cory booker. this as hillary clinton has come under increased pressure to choose someone who would enforce tough policies on wall street.
say, for example, massachusetts senator liz warn warren with. so to adam who's standing by in tampa where hillary is expected to hold this rally. i mean, i don't know what to look at first, but it's got to be that minutes from now people are expecting that tim kaine will be the guy. >> reporter: well, it is possible that hillary clinton will roll out on facebook a video in which she might be naming her vice presidential choice. but the drama involved in this, liz, i want to repeat what you said. tim kaine, tom vilsack and cory booker have no idea if they're the pick because they've kept this very tight wrap around the oice so as not to leak to the press. so there's been no official word as to who it might be. let's go through the candidates that are believed to be on that short list which could be rolled out on twitter or facebook within the next hour to two hours. tim kaine, the senator from virginia who is also a former governor of virginia. then you've got tom vilsack. he is a former two-time governor
of iowa, also the secretary of agriculture. and then finally, senator cory booker from new jersey. you recall about month and a half ago we were at that event where cory booker was quite, you might say, enthusiastic about hillary clinton, introduced her at an event in newark. he used to be the mayor of newark. he's also the youngest of the pool of candidates, 47 years old. he has said he's ready to cater to progressives, although he would be criticized by the bernie sanders supporters. in 201 he stood up for wall street when he defended mitt romney's bain capital. a lot of people say any one of these choices would not be enough to convince the sanders supporters to support the vice presidential choice and clinton. bottom line is that she is on her way here. she just concluded her event, a round table discussion in orlando. running a little bit late but expected here around 4:30, 5:00 in tampa. liz? liz: a adam, we will take you when that happens, definitely.
thank you very much, adam shapiro. and we did see history in cleveland last night. a man with no priest political experience -- previous political experience, reality television story and billionaire businessman solidified his place at the top of the gop presidential ticket, formally accepting the republican presidential nomination surrounded by his family. but now the real test. donald trump's campaign today officially kicking off his general election run against opponent hillary clinton. fox business senior washington correspondent peter barnes had the front row seat there in cleveland, ohio. and, of course, in this aftermath of the convention, peter, even after clinching the nomination, trump today is the one still speaking about ted cruz's non-endorsement. not us, not the media. >> reporter: yeah, that's right, liz. and trump speaking to supporters and volunteers at this westin hotel behind us here in cleveland. and and as you said, for nearly an hour he was unscripted, no teleprompter.
so guess what's back? "lyin" ted cruz, the nick maim that trump -- nickname that trump gave the senator during the primaries. he spent more time bashing cruz than criticizing hillary clinton. after cruz's speech to thetion t and, as you know, he did not endorse trump in that speech. for that, trump said this morning that cruz broke his pledge to support the party nominee. >> i don't want his endorsement. just -- ted, stay home, relax. so so he took his peach, and you're bound by that speech. just like you're bound by the pledge. you're bound by the pledge. [applause] so ted cruz took his speech that was done, was on the teleprompter, said hello, then made a at the same time that wasn't on the speech and -- made a statement that wasn't on the speech. is see to me, that's dishorn rabble. >> reporter: and trump went on to criticize cruz saying that he
lied about a i couple of other matters. trump has now left cleveland, he's on his way back to new york, and he will start his campaign fully on monday. and no comment from senator cruz on twitter or by any other means. liz? liz: peter, thank you. peter, we need to let everybody know that president obama has just made some comments about the situation unfolding in munich. he is saying our hearts go out to the people in germany after this shooting. and, again, for those of you who are just tuning in, three gunmen -- one of them may have killed himself. those are the reports we're getting right now. opened fire in the heart of munich's shopping center. there's a live picture of the streets in munich where police and all kinds of investigators are working. what's very disturbing, folks, right now about the situation is that the german police have said we don't know where either all or some of these gunmen are at the moment. and there you see one of the
police officers carrying major firepower as we wait to hear what has happened. all of this developing just as president obama had a joint press conference with mexican president enrique pena nieto. fox news' kevin corke, i believe he's outside the white house right this second. what are you hearing about the president's comments regarding the situation developing in munich? >> reporter: yeah, i'm glad you mentioned that, liz. we've been following it too. literally, we were inside today's news conference between the two presidents of the united states and of mexico right when this news began to break. and just moments ago the president was enroute to attend another meeting over here at the eeob, that's the eisenhower executive office building which is the rather large facility directly next to the white house. and before going over there, he did stop -- as you pointed out -- and mentioned that the investigation continues in munich. he said it's a good reminder of
our freedoms, but he also encouraged americans to go about their everyday lives. now, last night and today the big talk has been what did he think about what donald trump had to say in his vision of where america is right now. i had a chance to engage the president correctly today with questions at that news conference, and we talked about a number of different issues. we talked about poll numbers, just everything you can think of at least domestically, but i was struck by what he had to say about what donald trump was saying about where america is right now. listen carefully to what the president had to say to my question about is america as bad off as donald trump makes it seem? >> this idea that america is somehow on the verge of collapse, this vision of violence and chaos everywhere doesn't really jibe with the experience of most people. some of the fears that were
expressed throughout the week just don't jibe with the facts. >> reporter: so if on the one hand he's saying it doesn't jive, that's almost undercut by what's happening in munich. i think the president would acknowledge that, but it's a very different argument, a political one as well as a security one. liz: kevin, thank you. i know it won't surprise you because you're on this story as well as we are that munich police are still saying this is an active situation. it is not over. six people killed, and that is coming from a munich police spokeswoman. multiple people killed and wounded. and, of course, they've completely shut down the streets here, and any surrounding business for blocks away, they've just basically had to shut everything down. they are keeping people -- look at this, what you see under here. they're keeping anybody who doesn't have a place to go under what appears to be a highway overpass there, telling restaurants shut your doors, don't let people in and don't let guests out. and they're telling people in their apartments, lock your doors. terrorists still at large.
those are not my words, those are theirs. they are saying this is a terror situation. at least three gunmen, so people are being told in munich take shelter, stay indoors. and interestingly, they're saying do not show video or photos of anything you see at the moment. closing bell, with all of this news, 45 minutes away. and the dow jones industrials is gaining 40 points on this friday. stands at 18,557. if you look at the heat map, most of it is green. so it's actually pretty cool. visa, american express, microsoft are the leaders. we do have lag orders, apple, caterpillar and general electric. when we come back, much more on all the developing stories both political and international. i promise you, we are on this story every step of the way. ♪ ♪ ♪
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our hearts go out to those who may have been injured. it's still an active situation, and germany's one of our closest allies, so we are going to pledge all the support they may need in dealing with these circumstances. it's a good reminder of something that i've said over the last couple of weeks which is our way of life, our freedoms, our ability to go about our business every day raising our kids and seeing 'em grow up and graduate from high school and now about to leave their dad -- [laughter] i'm sorry, i'm getting a little too personal. getting a little too personal there. [laughter] that depends on law enforcement. it depends on the men and women in uniform every single day who
are under some of the most adverse circumstances imaginable at times making sure to keep us safe. and, obviously, we have gone through a really tough time these last couple of weeks. on a whole bunch of fronts. and most recently i, you know, had tough job of talking to the widows of those police officers who have been killed in baton rouge. and i know that for men and women in uniform, each loss like that is like a loss in your own family. but i wanted to come by to make sure all of you knew how grateful the american people are for your service. liz: president obama thanking officials and thanking military and police for service under very trying circumstances over the past couple of months.
we are all too familiar with police shootings here. but we need to dip back in to munich. we do have cameras, and we do have lots of video of what is developing in munich at the moment. and it is really unfortunate to tell you, but there is still a massive manhunt on the loose for three gunmen who opened fire just a few hours ago in the olympia shopping mall which has about 135 stores. as nightfall begins to descend on munich, they don't know where these attackers are. they are calling them terrorists. there is a major shutdown in the entire city of munich, germany's third largest city, bavaria's largest city where every single law-abiding resident has been told to lockdown, stay inside wherever you are. three gunmen on the loose, multiple people killed and injured inside that shopping mall, and the reports we are also getting is that because this is still an active situation, they have not yet begun to be able to remove some
of the victims from the scene. i want to bring cheryl casone think in here, because you've been covering this as well. am i getting some of these points? what else is there? >> reporter: yeah. as far as the victims, several reports of victims laying on the floor inside of the olympia shopping mall. we're just getting a couple of updates. first and foremost, reuters reporting they have started to shut down the highways around munich. the context could be that the search area is expanding for these shooters, expanding. and as you mentioned, build news agency reporting earlier that one of the shooters had committed suicide. we have not gotten any further reports on that. we're trying to confirm that right now. also u.s./european command about 145 miles northwest of munich, liz, an american base, they are trying to account for their personnel. they're also trying to assist munich authorities to start to
begin the process to find out if any americans have been affected by this attack. witnesses say there were three distinct shooters, liz -- liz: hey, cheryl, sorry to interrupt you, sorry to interrupt you. stay there. there's a news conference going on in germany. this is a police spokesperson. five, five dead. we are hearing this from this individual. it's in german, that's the issue, so we're not going to open up the microphone at this point because there isn't a translator looped in. we are hearing that he is saying five people dead and multiple, multiple injuries. and yes, you are correct about the highways being shut down. might be late for that considering this incident started a couple of hours ago. as you heard kevin corke on the front lawn of the white house say they were just getting ready to speak with the president is and hear him speak with mexican president nieto when suddenly this developed. >> reporter: and also, liz, i want the help you give a time frame to this, because it is now 3:23 here in new york city eastern time.
this began just after noon eastern time here in new york, so it's about 9:23 at night right now. what does that mean for the search for these suspects as night falls in munich? that is the other thing. and also to talk about some of these reports that we're getting, sky news -- which is our partners over in london right now -- are reporting and this is, again, coming from sky news, they've been hearing that the gunmen actually spoke unaccented german. the gunmen spoke unaccented german. so there's a lot of question marks. we've seen some of these images of these men, of course, in their full -- what looked to be body armor. but we're trying to find out who these suspects are, liz. we'll give you details if we can. liz: they are saying that they are still searching for three gunmen. you know, at the top of the hour we had heard from build, which is a newspaper in germany, that possibly one gunman had potentially shot himself, committed suicide. at this moment they say they are still looking for three gun mefnlt cheryl's on the case, we're on the story.
we will be right back. we are watching these markets as well which don't seem to be, sadly, unfortunately, the markets are inoured to these stories in certain cases. up 46 points for the dow jones industrials, 18,563. i'm going to come right back. please stay with me, we've got much more straight ahead.
liz: exactly one month ago today i was standing on the floor of the new york stock exchange at this very hour reporting on a pretty stomach-churning 600 point drop in the dow, after yes, remember, britain voted to exit the european union. it frightened markets. not only has the blue chip index recovered those losses and added more, it has hit a string of seven record highs before halting the advance yesterday but marching back again today. tonight the fight is on to get back to record highs. let's get to the floor show and traders at cme group and nymex.
i want to get to you, chris at cme. kind of amazing not only markets erased losses and fear and added higher and deeper. makes people wonder what is the next trade as we get deep near quieter part of summer or not? >> we get into august and usually most of europe takes vacation. only play at this level is insure that you protect -- we rallied 9 1/2% off lows. we had been talking about a 9% drop people would be very, very upset. liz: yes,. >> protect these baines. only way i know how to do it is set hedges. that is why we're here in chicago. stay long in stocks to protect yourself with puts or futures in case we fall out of bed. this market, we've seen so much volatility past two years, 200, 400, 600 point moves are very, very common. i would say that is how you proceeding tech yourself. liz: as you look at banner, a
month after the market plunge here at the bottom of the screen, we can then change it to yet another record for the dow jones disindustrials. s&p on track too. alan, what is interesting too, i want to back it up four months ago, whatever oil was doing on any given day, the oil did too. whatever oil did, markets did too. second week of losses for oil, yet the market seemed to forget about that as we look what is going on with oil, i think the glut is still houseguest that won't leave. there is still too much supply for demand. >> i agree with you. we have disparity between the two. stock market rally and coming off. i think we're getting into oversold situation. think we're very close to the bottom, 42, 4350 we're close. liz: rig counts are jumping. rig count was up 14 points. 10 weeks in a row i believe, and yet the growth in demand hasn't exactly skyrocketed either.
so if companies and oil services are beginning to think, okay, we had enough, we're hitting bottom, start grinding things back up again, we run into the same problem? >> that point is valid, however we have come off too far too fast. there will be a rebound here. you will see some of the production start taken back off-line. they don't want another situation where we're in the low 20s or 30s. yeah, you have some things coming online. they did. we were up $50. make sense for them online. you're starting to see pullback. liz: okay. >> you will see some of the glut used up. both of those will get the market to go back up a bit. i think we'll see 46 1/2, $47 in crude oil next week or two. liz: we'll see if that comes to past. chris, i have to go quickly. of the 103 s&p 500 companies reported, 67% beat. is this a case of underpromising and overdeliverring? >> yeah, i think so. in this environment we've seen
that really for the past year or two, underpromise, overdeliver. everybody stays happy. nobody gets too angry. so all in all, you know, we're the best economy in the world, as much as people like to talk it down. we're the cat's meow. liz: we're optimists at fox business. i agree with you. have a safe weekend. chris, alan, thanks so much. we love our traders. be sure to tune in wall street week tonight, anthony scaramucci and gary kaminsky will focus on some economic themes from the rnc convention with some of america's top business leaders. including chamber of commerce leader tom donahue, no real fan of donald trump and his big tariffs on trade, ed renzi, former ceo of mcdonald's usa. breaking down the good, the bad, the ugly from the republican national convention as only john can do. 9:00 p.m. eastern. we have more and breaking news out of germany.
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♪ s&p 500, gaining. and nasdaq higher, highest levels of 2016. stocks positive for three major averages this week. look at shares of boston beer company, maker of sam adams reporting better than expected second quarter revenue. shares are soaring. the company right now, saying that it is all thanks to strong demand for ice teas and root beer. chipolte reported lower than expected earnings results. it is profitable once again. the burrito chain struggled after a string of e.coli outbreaks across the country but profits have dropped.
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all year round. so call today. because now's the perfect time to learn more. go long. liz: breaking news. shooters on the run who are dangerous. that according to the munich police spokesperson, peter beck, who is on your screen. he just wrapped up a news conference. he added there is no indication of islamic terror. you twice earlier earlier, cheryl appointed gunman opened fire were yelling in unaccented german. said something about foreigners. at the moment six dead. peter beck clarified. said, six dead. scores injured. they have not been able to move anybody because the gunmen are still on the loose. you're looking at live pictures of the streets of munich. you can see police are at the ready. there is massive manhunt underway, by the way.
they have shut down highways in and out of munich. entire transit system is closed. people are being told to stay inside as they evaluate what is boeing on. they are looking at videos. there are apparently videos of the shootings as well. let us shift gears here to politics because back home a big portion of donald trump's speech last night, once he got to that podium was all about protecting america but how are we going to pay for it? we bring in douglas holtz eakin, former head of the cbo, congressional budget office and steve murphy. democratic strategist. doug he talked about the expanding military and law enforcement. referenced building a wall alounge the 2,000-mile u.s.-mexico border, make child care affordable. that was the beginning.
this to did not sound like a we want small government republicans like small government. it sounded like big government. >> he will hurt big government that will get bigger. deficits that will widen inexorably. he made no promises to trace the trajectory. keep social security. medicare untouched. increase military and infrastructure spending. add law enforcement and child care. and promised biggest tax cut of anybody who has run this year. doesn't add up. in the end you can tax as much as you spend. he is not controlling spending so he will tax a lot. liz: he did mention this comment, year after year, waste fraud and abuse from every politician. is that enough? i don't know, it really sounded to a lot of people who are smaller government types, that he envisioned a way of a more
active role of government in people's lives? >> certainly he is promising to deliver to the american people, particularly those he singled out having not gotten a fair shot in the past couple years, better lifestyle. he is provided no details how that is going to happen. the right route to that is get the government smaller. roll back regulations, keep taxes low. get the spending programs under control and change the economy from 2% growth economy which it is destined to be if we don't change the course but there is nothing in that speech that will get him there. liz: steve, hillary's turn. democratic national convention starts next week. do you expect she will look at that and somehow strike a much different tone and can she? she talks about a lot of government programs too. >> she is certainly going to strike a completely different tone than the one democrats are, period, than the one donald trump and republicans had. she will talk about bringing people together and moving
forward together and building an economy, strengthening an economy that works for everybody, not just the wealthy and corporate special interests. but in terms of debt, i think debt and spending is a terrific issue for us to be talking about. hillary clinton is the only candidate who talked about that credibly over the course of the campaign. she pointed out that without the tax cuts that we had under george bush we would have a balanced budget today or be very close to it. and it was her husband's administration that last balanced the budget and that was an administration that was very tuned into the need, to stop growing the size of the government. liz: well he had the peace premium, needless to say. doesn't look like we certainly have that now. snort tim kaine, this is interesting, if he is the one, apparently he had a fund-raiser today in boston. we don't know what's going to happen. hillary is supposedly very close perhaps naming him as the veep. doug, he has been outspoken
champion of free trade. he defends nafta. he supports tpp. he is son of a welder, harvard law. does he maybe balance it out to more fiscally responsible to hillary's tone which is you know, we're going to bring everybody together but i don't know how anybody does it without spending a lot of money? >> well, certainly those things are things genuinely pro-growth. there is nothing pro-growth elsewhere in her platform. she can talk about great her husband was he actually did things to help the economy grow more rapidly. she can talk about how great he was balances budget. she has done nothing but offer up new entitlement programs not addressing other once. her words are completely at odds with what she is proposing. maybe mr. kaine is bringing real to that. we need a discussion in reality.
liz: doug is not wrong. he was with the non-partisan cbo. what do you say to that? >> what do i think is this, tim kaine would be a great choice. i don't know who she is going to choose, a lot of democrats, including hillary clinton do not favor donald trump's protectionism and his desire to worsen relations around the world. what democrats want are trade deals that are fair to american workers, period. but not protectionism and tariffs that donald trump is talking about. liz: listen, great to have you both of you. steve murphy, democratic strategist. douglas holtz-eakin american action forum president. wonderful to hear your perspective. thank you to both of you. bell ring. up 52 points at the moment. 18,569. s&p charging ahead by nine points. a day of red yesterday. a day of green today. hillary clinton looking to steal the spotlight from donald trump or take it away from her turn.
her vp announcement expected at any moment we keep getting told. as democrats round up their troops for the counterattack of the gop from the city of brotherly love. we have democratic committee chair with inside look what to expect from philly next week. we will get you the very latest update on the deadly attack in munich, germany. we do have gunmen still on the loose. countdown coming right back. you both have a
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liz: okay. while there was much anticipation we would see a major ruckus and possibly even riots in cleveland, you know what? protests were relatively calm this week. the worst we saw was a little pushing and shoving. just 23 people were arrested. why do i say just? compare that to 1800 arrested during the republican national
convention in 2004 in new york city. but it is new york. let us spin it forward as democrats head east to philadelphia. is the city of brotherly love ready? we have a man presiding over convention. we have the chairman of pennsylvania's democratic committee. okay. we're hearing anywhere from 35 to 50,000 protesters per day are expected. this could be sound and fury signifying nothing but what are you prepared for, what do you think is going to happen? >> well we, i think we're completely prepared. i'm not sure we're going to get those kind of protesters. we're certainly give them ability to protest. we'll give them room. we have specific places allocated where they can do it. we don't think, we don't want them to interfere with their convention itself. and hopefully it will be under control. you can't, the truth is you can't always control it. you don't know what is it coming. we should okay. we're certainly ready for it. liz: i think what cleveland
police did so well, we heard from fox business people, there were multiple checkpoints, by the time protesters got to where they were allowed to protest, they were totally exhausted. i will try to burn the flag. nothing really happened s that sort of the stake that the philly police will plant in the ground? because they haven't asked for additional help from other units like the cleveland pd did? >> well, first of all we have much bigger police force obviously. liz: yeah. >> and this is a police force that is used to big events. we have pope francis here earlier, earlier in the year. that was incredibly, that was much larger in fact than what we're doing now. and very smoothly. they had checkpoints. they were able to pinpoint people, people in the crowd. they had various kind of police, some of which you can see and some which you couldn't see. they certainly had people on bikes. people on hours. i think we're ready for it. the i hope the city is ready for
a wonderful convention. and, hopefully everybody will enjoy, this is the city of brotherly love. and sisterly affection. liz: let's hope, let's hope it stays that way. your state traditionally goes blue, votes democrat. it's a little purple right now. in most recent poll from quinnepiac, donald trump edging out hillary clinton by couple percentage points. what is the real feel when you talk about how your constituent in that state feel about this election and about the candidates that stand before them? >> well, i think that the, if you look at it overall state i think they're conflicted. largely geographically. the good thing for us, i think we're going to do very well in philadelphia and surrounding counties, four suburban counties. those five counties by themselves represent almost 40% of the population. there are areas which are traditionally more democratic like southwestern pennsylvania,
not including allegheny county where we have a lot of work to do. northeast pennsylvania as well where we have work to do. look, people are scared, a lot of them, especially when they are in manufacturing. they haven't had a job. don't see any way out. they will listen to anybody that sells them anything. hopefully they understand that what we're about we're real. we want to help them. we want to give them hope. we recognize problems are difficult and they don't get solved immediately. so i think we'll have different kind of convention republicans have. liz: we wish you as much luck as we wished cleveland. marcel, thanks very much for joining us. >> thank you for having me. liz: marcel the pennsylvania democratic committee chair. keep it here for complete coverage of the democratic national convention. kicks off monday. fair and balanced, same schedule as we can we finished in cleveland. maria at 6:00 p.m. "lou dobbs tonight" at 7:00 and
"cavuto: coast to coast" at 9:00 p.m. we'll give you latest on shooting in germany. still an active situation. they are evacuating people near the area. that is it what you're seeing on the screen right now. they are able to at least move some of those people out and away from the original scene. "countdown wrote coming right back. with this grade of protection... it's a fortress. and with this standard of luxury... it's an oasis. introducing the completely redesigned e-class. it's everything you need it to be... and more. see your authorized dealer for exceptional offers through mercedes-benz financial services. mercedes-benz. the best or nothing.
liz: back out to munich for more breaking news. the dpa news agency saying the government is quote, preparing for crisis situation that began due to shooting that began couple hours ago. still active situation. three gunmen on the loose. six people dead. police say there is no indication of islamic terror although they are calling it a terror situation. no trains are heading to munich after this shooting. scores have been injured. we still don't have the numbers. any news we get, we will pass it on to you. in the meantime you're looking at dow jones industrials up 41 points.
major averages are poised to close higher for a fourth straight week. here is the rub, s&p 500 on track to close at a new record high. the number to beat, 2173.02. we're just slightly above it right now. no matter, my next guest says run away, sell every rally. he is christopher zook. christopher, why sell every single rally? >> the rally will get more volatile here. the market has become expensive. we have "brexit" coming. we have the election coming. markets do not like uncertainty. one thing we guarranty we'll have certainty, be a sell other or hedge positions. liz: you say get out, are you biding to anything? are you adding any position? >> we like gold especially on pullbacks. bottom line time for people not to be greedy. time for them to be smart. sell when you can, not when you have to. volatility index is below 12. it will be at 20 and 25 plus
between now and november. that is a great opportunity for people to make money or hedge their positions inexpensively. liz: top holds, gdx. big metal plays. christopher zook from caz investments. [closing bell rings] we'll wait to see if it is a record for s&p. it is too close. i will wait for melissa and david on "after the bell." david: we're following a lot of breaking news for you this hour. stocks are back in positive territory again. s&p 500 closing at new record high while the nasdaq ends at a new high for the year. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered on the markets but first here is what else we have for you coming up this hour. developing details on the shooting rampage in munich, germany, police are now calling a suspected terror attack. we're getting reports that several people are dead and at large, at a large shopping mall