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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  August 24, 2016 3:00pm-4:01pm EDT

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coincidence? could this be something more? some are alleging that the pay for play scheme that the clintons engaged and ,-com,-com ma like my facebook showpage, don't forget to follow me on twitter at trish intel. i'd like to know what to think. over two years. liz: corruption, pay for play, some of the charges critics of hillary clinton are tossing around today after "the associated press" sensational report. half of the people unaffiliated with the government that hillary clinton met with the secretary of state for clinton foundation donors. donald trump of course jumping all over the report today on the campaign trail in the battleground state of florida. just today the polls showed trump with a slight lead, but with terror attacks in american university in kabul and a new offenses against basis in theory a which candidate would be best for the best friend of the u.s. in the middle east and that
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would be israel. former schiavo, a victim of terrorism himself is here live with me on his choice. meanwhile, the epipen price gouging scandal is exploding, hardly going away at all. hillary clinton making it a campaign issue today. wait until you see what she really is. we have the latest on mylan tax dodge efforts. the 600 plus% raise and the political connections that are shining a very harsh spotlight on the company at this hour for millions of you with allergies, fatal allergies good the flood waters season in louisiana have revealed worsening damage. senator david fitter life from louisiana to tell us how he plans to help small businesses recover because without that, you don't have real recovery. wall street on 39 points on a very tentative day.
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oil falls below $47 per barrel. we are watching all of this and your money. so much news here that matters to all of you. less than an hour to the closing bell. we will start the countdown. tentative is definitely the word here. investors taking a breather, sitting on the bench, eagerly watching and waiting for the economic and business growth to defend jackson hole, wyoming because the federal reserve chair will be there and she will speak on friday. what do you see? but last i looked to the downside. the s&p lower by seven. that was lower by 39. gold is down $18 because this anticipation and the fact that people are believing the fed may indicate it might raise rates in september. a big maybe. that's a goal to one-month low of $1328 per ounce because price
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hikes, interest rate hikes tend to strengthen the dollar. that tends to her cold. not everybody's waiting for friday to make the sin nor should you. pharmaceutical company astra seneca has agreed to sell a small collective of antibiotics business to pfizer. the deal at $1.5 million. astra seneca down half a percent. pfizer continues on its acquisition trail to try and buy a growth by acquiring companies that have interesting pharmaceutical businesses. from foreigners to the apparel giant express, the customers take the express lane out of town. the company announced sales and earnings below estimates. but here's the problem. it cut its full-year sales that it expects. pulling back by a pretty significant 24%. the price now one single share stands at $12. politics and hillary clinton. she's been laid low the last couple days playing defense today with no public appearances
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scheduled. she continues to face scrutiny over these very harsh questions regarding state department ties to the clinton foundation during her tenure as secretary of state. clinton however still launching attacks on donald trump by way of the new ad campaign. here is one of them. >> this factory has been here since 1883. we have over 60 people here making sure it's labeled, made in america. donald trump comes from china, sues for mexico, close from india. liz: although hillary clinton has vowed back for campaign appearances, doesn't mean she isn't hitting the campaign trail. she's scheduled to attend a fund-raising dinner being held for her by apple ceo tim could. apple as you may know produces many phones in china. it's interesting to see that ad attacking people like donald trump who make their ties in china. speaking of which come the bleak berman standing in washington
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d.c. she went happy i'm screaming about imposing tariffs on chinese goods. amazingly, this china story is coming full circle. >> that's exactly right. china as we've seen for months on end has been at the forefront of the presidential race at home. donald trump has made this the centerpiece of his tough talk on trade. i was talking about china at his rally right now in florida. however, hillary clinton is try to turn it back on trump today said he and he also raises the making to that area country. that seemed from printing continues on with the release of the new ad you just played a little bit in which he focuses on an american shirt making company. the narrator questions trump's decision to make his clothes abroad. granted, she's fund-raising today in california. yesterday she was at the home of justin timberlake and jessica biel. as she goes to an event hosted by the apple ceo tim could hear
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the will host a fundraiser for her as well. apple, a company that makes products overseas, releases products being made overseas. a little bit of awkward timing for clinton. in the meantime, we should point out that trump is at a rally in florida. he is still on stage they are. has hit clinton and her family foundation for a while now, pointing to the associated press report from yesterday that detailed access the donors tied to the former secretary of state. here is trump from a little while ago. take a listen. >> wait until you see ultimately what she did for all of those people. wait until you see. these are not people that go hand as i said and talk about how you are feeling. reporter: lives, trump called this a vast play for pay scheme and he continues to call for a special prosecutor to look into hillary clinton and the clinton
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foundation. liz: thank you three much. keep us posted on any of the developments. we'll take it for the former mayor of shiloh israel. his name is david rubin. we've been talking about the clinton foundation, but what about middle eastern donors to the clinton foundation and how they could influence hillary clinton's views on his country, on israel and why he thinks one candidate between donald trump and hillary is the right candidate. we will tell you who come in. let us take a look at mylan stock. when i got to work it was down 8% by 8% by getting hit by more than 4.5% yesterday. suddenly a tank and is now down five and three quarters%. the stock has gotten hammered over the past couple of days. we can only argue that it started to really drop in price today because hillary clinton mentioned it. she's gotten involved in this controversy. at the pens -- epipen has jumped
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to as much a $700 for a single payer today. this of course is needed for anybody's suffering from death allergies. clinton releasing a statement saying its the latest element of drug companies raising prices without justifying the value behind them as this outrageous money gouging act comes to light. the company has also managed to quietly move its headquarters overseas to lower its tax bill. we have discovered and found it without you, but people didn't make the connection that mylan purchased in 2014 for $5 billion. it would've enabled them to do was move headquarters to the netherlands, but it still maintained its major offices in the suburb of pittsburgh. the price of the epipen wasn't
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the only thing seen a spike. mylan ceo went from 2007 from 2.4 million to nearly made a million today. that is a 671% increase. in 2012 and 2013, mylan spent for a million bucks on lobbying to ensure that epipen had to be made accessible in schools. it would he required from the emergency epinephrine acts. they happen to be a sponsor of me group called food allergy research education. we thought let's bring them in. we are joined now on a fox business exclusive by ceo dr. james baker. dr. baker, first of all, what is your group's reaction to this price spike that has happened seemingly overnight but is then a couple of years but the absence of any bigger development and how the drug actually work. they have a pretty penny in today's. >> yes, our major concern is
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that our members do all, literally everyone required to life-saving drive has access to it regardless of price. i think what we have seen over the past year or so it says the number of competitors in the market has decreased, as the mylan percentage has increased, the price of ghana. not only the price, but the price people are seeing has gone up. the aca insurers are causing people to pay market price for these drugs before they covered their insurance. trish: you mean higher deductible. one of the sort of unintended consequences of obamacare is that people have to shoulder more of the cost of epipen. >> they have more out of pocket and they have a higher level that they have to pay for it before the insurance kicks in. liz: that if they blame put on obamacare that is just so
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annoying, but let me focus on mylan for a moment. why had they continued to drive this price up and they put a lot of it into marketing, a lot of money into lobbying, but they have that further develop the drug or seems to be working perfectly fine. by the way, the drug epinephrine only cost a dollar per shot. why is my nephew who is suffering from a fatal milk allergy or his insurance company, somebody is paying 700 bucks for two of these. >> yes. i can't tell you the rationale behind the pricing. liz: the website is your number one corporate partner. >> we have to have them as a corporate partner. they are the only company that makes the life-saving medicine that all of our members need. they are less than 3% or 5% of our overall revenue and it just goes for dvds. the important thing is we are trying to encourage good behavior. we are asking them to set up
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access programs so no child is without epinephrine because they can't afford it. we are also working to get others into the marketplace to provide competition. the spike occurred when one of the other competitors left the market. trying to do things that are right for members. liz: i can tell you right now the u.k. should be demanding some emergency ward meeting at mylan. would you consider asking them to do that? we can't get through. their pr person will not return calls. we have requested multiple times to make sure we have it. we put three of the board members on there. robert curry is the chairman. rodney p. outcome of the vice chair and he's supposed to be the independent direct your, all kinds of issues with him. do you think mylan should have an emergency board meeting to discuss dropping the price. >> we have been talking with
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them for over a year about developing the access program. why is this taking more than a year? >> i don't know. we are ready, willing and waiting to work to make sure that no one is without this drug. liz: people in medicare i should mention they still do have to shoulder a minimum of 100 bucks. not like anybody is getting this for free. mylan hands out a bunch of coupons. i'm hearing from hundreds of frustrating people i miss. we hope you can get action and if you do, please come back. >> thank you very much. and thank you for highlighting this issue which is very important for members. liz: we understand. if demand people in america suffer from this. two out of every kindergarten class. >> to children and every kindergarten class now have a clinically significant food liz: i hope mylan addresses this issue soon.
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thanks very much. we appreciate it, dr. liz: the figure of the research food education group. why didn't mylan's board for caution, when you hike the price of the life-saving drug or -- you better tread carefully. it is heavy with mylan executives including the former and current ceos, also the president. there are some business leaders. this one caught our eye. the lead independent director, he's a real estate developer and turns out he sold it to a business associate for a dollar in that business associate sold the same land to mylan on the very day he got it from rodney piatt. fec rules state you cannot be an independent director if you have a financial tie like this to a company.
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we hope they do. i know a lot of you would, too. stocks falling 5%. closing bell ringing and 45 minutes. dragging the dow lower. united health group and mark along with caterpillar. get your craft here. craft brew alliance signing a 10 year distribution deal with anheuser-busch but the maker of these are two small beers like kona brewing company, square-mile traitors. they will see 300,000 miles 300,000 miles of here. investors got going down the stock today, jacking it up by 22%. good job. as soon as the session started in just less than five minutes, the dow jones industrials reflected all the fear fined 1089 points. that was one year ago today which cause total mayhem.
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the markets plummeted more than 1000-point ipo pain. i was there on the floor of the new york stock exchange that day. neil cavuto was back here working at, kicking it. today are up for traders are on the floor to tell us if they see another plunge or record highs. which comes first. more about that when we come right back. ♪ with this level of engineering... it's a performance machine. with this degree of intelligence... it's a supercomputer. 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. lease the e300 for $549 a month at your local mercedes-benz dealer. mercedes-benz. the best or nothing.
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liz: at 9:35 a.m. eastern the dow jones industrial showed cracks and major weakness. the drop of the biggest point drop during the session advert that we have ever seen down 1089 points. that was me one year ago today on the floor of the new york stock exchange when the 1000-point drop cause stomach churning around the world. turned out to be a computer glitch that forced the new york stock exchange to halt, trading nearly the whole day. since then, the markets have had quite the turnaround. facing multiple record highs. they charge dramatically this summer. our traders endured that day with me. at the new york stock exchange the cme group. you've been on the floor since 1969. that was a doozy, wasn't it? very close to new record highs.
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>> complete boredom and lack of interest. you can even find anybody to talk to, even to complain to. nobody is at work the next couple weeks in the weeks following labor day are historically pretty quiet, pretty slow weeks. and of course we are on hold, the fed chairman to speak friday and i expect it has a lot to do with nothing because i can imagine we will hear anything we don't already know. the market seems to be focused on not. lastly we have the issue with some of the drug stocks, but primarily hillary clinton during her ugly head as she did do in the 90s when she beat up on the drug companies. for those of us that have been around that long, it reminds us all to clear about the big pharma of the clinton presidency. liz: that's interesting you bring that up. she weighed in on the mylan price hike and the stock had been down 1%.
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you can't really blame her overall because it was down 4% yesterday. now it is down 6% in the last 30 minutes of trade today. the sad with janet yellen. i may disagree with teddy for a moment because he's way more experience than i am. we've got a loss of 60 points from the dow right now. >> you know, we do have a big loss, but there's not much going on. teddy is right, if you look at what is going on, there is very little volume, very little interest. what we see although higher today we see a market reaching all-time highs, what is really happening to safeguard retail traders buying stock that they can afford to buy. i think that is going to create the overall biggest thing. liz: is this columnist before the storm? my goodness. that makes me nervous because we are quiet.
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suddenly we may have some type of headline to gyrate these markets and people will look up from the beach and go to their computers and start trading. >> i think that's exactly right. we have had the situation six or seven times over the last 10 years. each time permit through four weeks later we have a really big selloff. i don't know where we will go from there. markets have a big selloff either economical or it could be a geopolitical event. summaries and it's going to spook investors. liz: we are down 3% on the day. the inventory for the week began to job. more supply at exactly the time we should see drawdowns. 2.5 million barrels over the last week. and what do you expect? mamma lizzie was right. the two of us together. there's just too much. >> yeah, there is.
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this $40 bottom and $50 top will last to the end of the year. the iranians today will probably think about holding back production the little bit. they say they're not going to show up. it's back and forth, the saudi and iran, what they say really matters. friday we've got janet yellen talking. i can't believe anything she says anymore. the zero rate. who cares what she says. they are not going to raise rates and it's going to be the same old story. especially in an election year. liz: thank you, gentlemen. you can always come to me. nobody around even to complain to. good to see all of you. do not miss fox business coverage of all the action in jackson hole, wyoming. peter barnes has an interview with mr. george tomorrow on
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liz: breaking news. fran ticks efforts continue at this hour to rescue victims in the deadly earthquake rocking italy today. the death toll, unbelievable, at first it was 17 and then 38. it has now risen to 120 after this devastating 6.2-magnitude earthquake took place in central italy. at these cities you can see on the map we showed you. it left the town and around it ruined. look at the horrific images on the screen. this is 65-year-old man rescued from being buried under the rubble nine hours. rescuers racing against the clock to pull this off multiple times. there are children and other
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survivors stuck under the rubble right now. the vatican also sent a rescue team. by the way we'll break in with any news surrounding this horrific earthquake in case we get any of it. as italy continues its frantic rescue efforts to recover dozens of people from the rubble, the state of louisiana also still picking up the pieces as flood victims slowly, pape fully return to flood ravaged homes and businesses. retired lieutenant general russell honore who coordinated the response after hurricane katrina, said there is 40% of failure rate of small businesses after they gone through a natural disaster such as this and according to the baton rouge area, 1700 small businesses suffered damage from the louisiana flooding. let's bring in the head of a committee working around the clock to make sure louisiana businesses have to get back on
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their feet. david vitter, senator from louisiana, in new orleans, senator vitter, thank you for speaking to our viewers. >> thank you, liz. liz: of course, what efforts are being made to help small businesses and large businesses in the region to get back on their feet? >> thanks for the attention of the story. this disaster has been underreported, it was a mammoth flood, literally 1000 year flood event. probably over 100,000 structures flooded. as you said, one devastating impact is small business. as chair of that committee, i asked the small business administrator to come here on the ground personally, and she is to join me on the ground tomorrow to see things first-hand, to talk about the menu of sba tools and help including disaster loans that are available for small businesses. those are very important. that you try to avoid those business failures that general
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honore was talking about. liz: isn't that interesting he brought that up, and he would know, senator, because he went through katrina. >> sure. liz: there is an ls uconn mist who is saying he predicts one year recovery time. general honore said more like eight to 10 years. we can't afford that especially at a time when the economy is struggling. what is the number one thing small businesses working with the sba and you and other people should need. what do they want and what do they need to? >> apart from a disaster, a lot of small businesses need access to capital. when a disaster hits that need multiplies. liz: that is the banks, i'm hear you say banks should be lending. >> access to capital is it. when several tools like sba disaster zones recovery centers. we'll tour some of those tomorrow. we'll be talking to small businesses directly with the
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administrator to hear exactly what they need more of. liz: president obama came yesterday. >> right. liz: was that important for the psychology of the people there? talk about that. >> it was very important. it was important sothat he and the rest of the federal government get it in terms of the size of this disaster. again this was a thousand year flood event, well over 100,000 structures probably flooded. really a major event that has been underreported nationally. so, it was very important that he was there on the ground. it is also important for the same reason that the sba administrator is coming at my invitation tomorrow. liz: good, good. >> also the hud secretary tomorrow. liz: senator david vitter we wish you and louisiana the best of luck, we appreciate it. >> thank you. liz: by the way, let's help. red cross is accepting donations for flood victims. call 1-800-red cross. donate through their website,
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closing bell 26 minutes away hillary clinton feet being held to the fire over her relationships with clinton foundation donors while she was secretary of state. it's a list that includes many middle-eastern businessmen and leaders. critics fear the fight against terror could be compromised with a hillary clinton white house. david ruben, the former mayor of shiloh, israel, a victim of terror himself. he joins us live. he happens to be in town. he said another clinton administration could actually destroy our number one friend in the region that would be israel. countdown coming right back.
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liz: the dow just hit a new low, down 80 points. so we're down 79 at the moment. we're keeping an eye on this. i told teddy, it wasn't too boring of a day. there is some action. we have breaking news this hour. afghanistan is still trying to piece together details of this, an attack on american university of afghanistan in kabul. this has killed one, injured 14. a police commander describing it as a quote, very complex attack. teachers and hundreds of the students had to take cover in classrooms and safe rooms. one car bomb exploded. one attacker jumped out to fire at university campus. the former mayor of shiloh, israel, believes donald trump would be a better choice to protect israel. he has felt the dangers first-hand. david rubin and his 3-year-old
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son back then were wounded in a terrorist attack. he established the shiloh, israel, terrorist fund. did kateed to healing -- dedicated to healing victims of terrorist attacks. >> anybody. liz: david ruben, great to have you here exclusively. >> thank you, liz. liz: hillary clinton what are your concerns about her? >> i could give you a long list. first of all we have past policies and past positions as secretary of state. all israelis could tell you, if you mention hillary clinton, they remember when joe biden visited israel and permits were announced for building for israel to allow israelis to build in jerusalem, israel's capital. hillary clinton got on the phone i am immediately to prime minister netanyahu of israel, gave a stern 45 minute lecture
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about how terrible it is. how dare you allow such a thing in jerusalem. now, i know that if cuba allowed building in havana, georgia, havana, cuba, excuse me, there would not be any complaints. there would be no criticism but when it comes to israel, israel is the only country in which the united states does not recogze its capitol. liz: that is ridiculous. israel is always held to higher standard. that possibly is because israel lives at a higher standard. israel has managed to turn scrub, desert land into something, a real jewel in the middle east, surrounded by very hostile countries. donald trump, you say is the man to be in charge if there is going to be a friend in israel. however, wasn't it hillary clinton who was secretary of state when usama bin laden was killed? there are issues through the years where certain presidents
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have not exactly do not right thing but always under the table they have been extremely supportive with the iron dome situation of israel? >> true. the, military support has continued. the aid has continued, but, you have to look at the issues if you want to understand really where the president stands, where the secretary of state stands. hillary clinton, her foundation received $25 million from saudi arabia. the king of saudi arabia has said that 20% of the clinton campaign is being financed by saudi arabia. there is some serious issues here. you know, basic common sense. all, that one has to do is look at it and understand what influence-peddling is all about and the issues in israel are going to be influenced by hillary clinton's ties to the persian gulf and to donors to clinton foundation.
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liz: that worries you because we need to support israel, here in the united states? >> it is good for the united states as well. it is not just a question of israel and friends of israel. it is a question of the united states. does the united states want to have the good relationship with the only free, this island of freedom in the middle east? which is a tremendous source of intelligence and cooperation. liz: of course. david rubin, good luck to you. thank you so much. good luck for the good work you are doing with your charity. >> thank you, liz. liz: the mayor of shiloh is ray saying donald trump is the one that will be the best leader to help israel. america's national defense, sure to be a topic friday night when john stossel host as libertarian town hall with gary johnson and bill weld, 9:00 p.m. eastern. you do not want to miss that. closing bell 17 minutes away, hitting another new low moments ago.
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we went from 80, to down now 89. herbalife trying to turn its ship around. waves of rumors plaguing the company's, what is up for the sports nutrition company after the settlement? charlie gasparino is next on what you hear on wall street about herbalife ♪
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saying herbalife was pyramid scheme for four years. ftc came out with ruling several weeks ago. critical of their business model but stopped short of closing the company down as illegal pyramid scheme. here what we know from inside the company. i'm getting this from officials as herbalife. they're still weighing legal action against ackman for his campaign against them, which quite frankly over the years they thought he sort of veered off into not just criticism of their business model, but outright slander, their point. bill ackman maintains what he did was right. this is company misleading investors t has all the earmarks of a pyramid scheme because they have more distributors than actual customers. at some point it will all fall down. he maintains his position. they maintain theirs but inside of herbalife we hear they are yeahing legal action against post the ftc decision.
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what i'm hearing from a high-ranking ftc official, excuse me, herbalife official, when i asked point-blank are they weighing legal action against bill ackman, all options are on the table. that's what they say. they're still mighty mad and might take legal action against them. liz: libel? >> libel.nown short sellers that have been sued for libel before. a guy named manuel -- liz: david rocker with. >> he settled with them. manuel didn't lose but dragged him through court, it was a big to-do, not a fun thing to get sued for libel. that is where i think they are going. it is 50/50. a theory with an herbalife, let's get on with our lives. there are rumors that carl icahn is selling his stake. i called up carl's office. he did not deny it.
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they said he is not selling his stake. he is biggest shareholder. if he sells his stake that would hurt the stock. liz: he has been in the battle with ackman. he is long. ackman was short. >> they need to get back to being a regular normal company they may not go through with a lawsuit. they are working out credit facility, that got upended while in middle of this four year i im broguely yo with bill ackman. at some point they have to make a decision. there are people inside of the company that want to sue ackman. there are people inside of that company, that these are not just watercooler people. top executives who think what ackman did crossed the line from regular criticism to just throwing out absurdities. >> he had websites. made films. tried to get connie chung -- >> that is part of the first amendment. you're allowed to do that. liz: of course. >> they think he stepped over the line. he would say no. he was calling attention to what
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he believes is a huge scam. we do have a call into ackman's office. he did not get back to us. herbalife has no comment. they're not denying lawsuit aspect. clearly it is on the table. liz: charlie gasparino, on herbalife, closing bell, eight minutes away. leads of change weeks away as summer turns to fall. closer says don't trim away the portfolio by trimming off those branches. the dow is down 84 points. (announcer vo) who says your desk phone always has to be at your desk? now, with one talk from verizon... hi, pete. i'm glad you called. (announcer vo) all your phones can work together on one number. you can move calls between phones, so conversations can go where you go. take your time. i'm not going anywhere. (announcer vo) and when you're not available, one talk helps find the right person who is. hi, john. (announcer vo) so wherever work takes you, you can put your customers first. introducing one talk-- another way verizon connects your business better. learn how at
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that inactive satellite radio of yours is ready to roll. because the siriusxm free listening event is on right now! just hit the sat button in your car and listen free thru sept 6. that's right, two glorious weeks of commercial-free music, plus talk, sports, comedy, news, and more. your ride has never, ever, rocked like this. oh yeah, siriusxm is on for free right now. so tune in and let's ride! ♪ liz: we've got breaking news on the nasdaq. is down 48 points. it is on track for the biggest drop in two months. if it closes down .89%, it is down .93% we have the biggest fall in two months. let's get to sale of pcs and printers, appears to have a glitch hurting companies like
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hewlett-packard which in a few minutes report earnings after the bell. what are they trying to do to reboot? let's get to new york stock exchange. adam, hp. reporter: they are trying to fix the printer business. they pay $850 million in dividends. they could do much more according to different analysts. here is what we expect with earnings after the bell. revenue $11.4 billion. this is the old-fashioned business of printers and pcs. it is not hewlett-packard enterprises which they split off and got sold, announced a sale back in may. they're looking how they will turn this around by pruning the discounts they give. get a coupon, go buy hp ink. they're streamlining that to bring cost down. see if they're having success. liz: i think my entire college fund for my kids goes into hp ink. >> better than smith corona. liz: better than pecking out on a typewriter. we hit record after record, right?
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why is the chief equity strategist of federated bearish on equities come september? phil orlando, good friend of the program. manning $460 billion, 460 million at the fund but you have billions overall. >> exactly. liz: you're afraid did i cat over equities? why? >> valuation is different than bottom of the great recession. march of '09 we got bullish, stocks trading at 11 times earnings. we're up to 19 times earnings. gdp growth is slowing last four quarters. david: h. liz: 1.2%. >> corporate earnings have been down year-over-year after last five quarters. everyone says don't worry about that. fourth quarter next year will be terrific but the dollar is strong. energy prices are weakening. it was the reverse of that, weak dollar, strong oil, that is embedded in everyone's models
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expecting explosion of earnings. we're not expecting more than $115 this year, $125 next year. you have a 19 multiple which is pretty rich. liz: people said stay away from stocks earlier this year. what did we get? all-time highs on s&p. all-time highs on nasdaq, at certain points we saw all-time highs for the dow. so they missed out on that. what makes you so sure right now people watching should not be in stocks? >> well, i'm not saying you shouldn't be in stocks. we're cautious but we're positioned slightly over neutral. so in our global balanced allocation fund, we're 62% stocks. 2% over neutral. it is not 80 or 85% stocks at bottom of the cycle. we pulled in our horns a little bit to reflect nervousness. liz: people say i have a little bit of dry powder, i want to buy a couple stocks, throw out two
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names you think should be in people's portfolio. >> last couple days good numbers out of housing sector. a little bit of disappointment in the existing sector today, just off of a nine-year high. two housing stocks that we liked are sherwin-williams and eagle. we think that those stocks are very well-positioned. sherwin-williams in the paint business, eagle in the wallboard business. based upon the markets that they're in, the revenues and earnings they will generate, we think the stocks could be up 15% or so course of next year. liz: sherwin-williams, fine cleveland-based company. >> absolutely. david: liz: we'll have troublesome day particularly for nasdaq. what do you think is at work here? is it quiet summer day or janet yellen says something friday that gyrates the markets? >> there is concern what does dr. yell ensays at jackson hole with her keynote speech. liz: friday.
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>> fried. he had a speech you know what, labor market metrics where we need to be. inflation is almost where it needs to be. [closing bell rings] market looking at yellen speech friday, will fed tighten in september? that is what the market is worried about. liz: we'll have the speech on fox business. peter barnes is there. phil orlando, thank you. just off session lows to david asman and melissa francis for "after the bell." david: thank you very much, liz. stocks retreating from record highs with losses picking up steam in the final moments of trading. the dow and s&p down, but look at nasdaq, way down by more than a full percentage point. hi, everybody, i'm david asman. melissa: i'm melissa francis this. is "after the bell." we have you covered on big market movers. here is what else we have for you this hour. donald trump wrapping up a rally in tampa, florida, focusing on immigration and jobs while also slamming hillary clinton for what he calls criminal behavior.


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