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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  October 5, 2016 3:00pm-4:01pm EDT

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with a special edition. i will see you here at 6:00 p.m. eastern on sunday night followed by lou dobbs at seven and then neil is taking us right into prime time at 8:00. you do not want to miss this one. >> i know you saw this. we have the highs of the session right now. so much for hating uncertainty. they appear to be unphased by find unpredictable presidential race. in a rate hike. a hard british exit. her friday september jobs report. it is near session highs right now. on track to end today's lawsuit. you're looking at life in pictures. that's in henderson nevada. at a rally there since last night's vice presidential
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bait. we will monitor for the moments he gets up on stage. they want to know if mike pence will help his running mate prepare for the presidential debate on hillary clinton uses a day to do her own preparations. preparation is the key word in this hour. there up and down the eastern seaboard. also the carolinas are very concerned at this moment that the deadly hurricane matthew is taking aim at the bahamas and there are alarming reports of price gouging on water here in the u.s. we will get that story to you and plus the space race heats up. they take up with a painful hit. and charlie gasper in a guess bring out without warning for the tech giants. where less than an hour to the closing bell. it starts the count on.
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just as we thought. it would be the norm they have managed to bust through the clouds. trading near session highs. s&p up at 12. and as i mentioned they are turned turning have by nearly hundred 40 points. what is fueling this energy. that's what were really seen today as the rocket fuel propels the market. rep $49. seventy-eight cents in the aftermarket session of the highest level in more than three months. no surprise there. we have chesapeake energy. those are names that are really doing well at this moment. up about 4%. more than 6%. the parent company of crowd
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favorites. they are surging to all-time highs after hitting the latest orderly numbers. drink up at the moment. in the hunter becomes the pray. they could come in as early as this week. the sales force is dumping out in the opposite direction falling 5%. they just don't think it's a good idea at all. wait until you hear the warning. he's coming up to break that story. they are firmly at all of the locations. he is prepping for matthew. what specifically moving in
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this market rally beyond the energy names. let's get to the breaking news. donald trump is expected to speak at any moment. the republican nominee is holding a rally in the all-important battleground state. he wasted no time after that. hillary clinton taking a break from the campaign trail today they've just learned that the democratic nominee is at her washington home preparing for the second presidential debate. it will be held this sunday in st. louis. you have the gps on the candidates every move. whether it moved the needle for the candidates. both of them are spinning. they got high marks from his supporters for being cool and steady and not taking any bait.
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some people think i one i will leave that to others. from where i set donald trump one won the debate. the vision to make america great again. we will hear later today. how tim king did last thing. he's gotten praise for many democrats for going on the attack against trump. the clinton campaign is on damage control over comments from the former president bill clinton. monday they divided obama care from the craziest thing in the world he later walked that back. that did not matter to donald trump speaking yesterday in arizona. >> ivan's nfl on time at least he is honest. in the meantime she wants to
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double down on obama care. i bet he went through hell last night. can you imagine can you imagine and we are about to hear from trump at that rally in nevada but an appearance here he praised his running mate for the debate last insane night saying that pens one on substance on the issues that style. back to you. to the deadly hurricane that has left haiti. at least 11 deaths have been concerned. that number is expected to rise. they cancel all miami arrivals. for thursday. the governor of florida and this is important he is telling the people of his state that they have less than 24 hours to prepare for
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hurricane matthew which is expected to put the coastal areas of the state. as a they try to heed his warning there are growing reports that they are being hit by price gouging at stores but also at the pump. fifteen dollars for a 12 pack of water at publix. and then they tweeted these high gas prices. as we watch all of this they had been put into effect in both florida and south carolina at this hour. let's get to fox news. at the gas station. and what about these evacuation efforts. and people getting gouged. the attorney general she has already preannounced prior to hurricane matthew that she and
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her team will be very closely monitoring alleged price gouging a gas station where i am here this is a site that no a driver wants to see as they pour in here this gas station has run out of fuel except for diesel fuel. they had been fueling up all up and down the state today. just in case they were going to evacuate. the space coast. we are still a good 24 to 36 hours out from the eye of the hurricane. all of these have at
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3:00 mandatory evacuation order so that should be underway as we speak here in jupiter in hutchinson island. it is a voluntary evacuation order so it's mainly a suggestion they are urging for two days now anybody who was going to evacuate to do so immediately. the skies are blue. and the weather is pretty good here. it is good to be different up and down the coast line. it remains the warning to the florida keys in the miami dade county. there is a hurricane warning. anywhere from seven to 10 inches of rain. there urging everybody to make sure if they did not get supplies like water, food
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everything they will need for three to five day power outage to get them now there are a lot of them that are empty. that is a situation in florida bracing for its first major hurricane to impact the state they are urging there urging everybody on the entire u.s. keys east coast to pay very close attention to this monster storm which is expected to be a category for when it hits florida. that to me is so reminiscent of hurricane sandy where they ran out of gasoline and it almost induces a little bit of panic. we hope everybody remains calm and stays tuned.
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it has fed watchers on high alert. it's actually a decent surprise. it's actually a decent surprise. have its best meant --dash month . that starts to get people chattering but it doesn't matter they don't seem to be fearful. we are near session highs right now. we have good news and good news. it is up today. 70% on the ten year yield. we have now. that were looking at were looking at the december rate hike. it's coming in much better than expected.
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they seem to be a little bit relieved. i head of the all-important government. it's a little weaker than expected. still a strong enough to show we have a growing healthy jobs market. we are seen in some significant moves. even some of the big retailers. two and half percent. and the earnings here coming out . we will see how that how much it is. with the closing bell 48 minutes away we have goldman sachs leading.
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but netflix is coming to a theater near you. it debuts in theaters on friday. they are getting a bump up for in the quarter% right now. they are scanned by wells fargo. it's not movie it's real life and they're not the only ones. we will tell you why coming up. many of them never had accounts. next on the countdown. go away.
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do you have thecare? coverage you need? open enrollment ends december 7th. so now's the time to get on a path that could be right for you... with plans including aarp medicarecomplete insured through unitedhealthcare. call today or go online to enroll. these medicare advantage plans can combine your hospital and doctor coverage with prescription drug coverage, and extra benefits all in one complete plan
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for a low monthly premium, or in some areas no plan premium at all. other benefits can include: $0 co-pays for an annual physical and most immunizations, routine vision and hearing coverage, and you'll pay the plan's lowest prescription price, whether it's your co-pay or the pharmacy price. or pay zero dollars for a 90-day supply of tier 1 and tier 2 drugs, with home delivery. don't wait, call unitedhealthcare or go online to enroll in aarp medicarecomplete. >> we have all been there. i will talk about cash in the pinch in a minute. the first public rally.
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the first public rally. how many of you watched the vice presidential debate last night? >> mike pence did an incredible job it's really my first choice. he was phenomenal, he was cool and smart and we are very proud of governor mike pence. it have the single most exciting this victory and last night they also got to look firsthand at my judgment.
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you need judgment. we don't use deals like that. we don't do deals like that. $1.7million in cash. i think the whole stage would be filled up to the roof who ever heard of things like that. his opponent tucked only of the small and petty distractions hillary clinton has been there for 30 years and hasn't fixed anything. we will do this we will do that. the problem is why did she do it. she just made things worse.
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promising to create in order to get elected. but manufacturing is down. they are producing only death and destruction she unleased isis destabilized iraq, syria, libya and put iran onto the path of the nuclear weapons. they will have nuclear weapons. one of the dumbest deals ever made whether it was countries or any kind of a deal you can think of one of the dumbest deals ever made. at home hillary clinton failed latinos and african-americans producing only more poverty in the inner-city. they called me you love and
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then they don't come back. she is merely of the vessel for the global specialist to leading our country dry. i'm running to represent americans. >> donald trump taking the credit. he was smart enough to pick mike pence. once again donald trump calling his opponent a failure. the staff member. first words out of my mouth i'm getting a lot of credit for his performance. to pick mike pence is that the way to go here.
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>> i think yes to celebrate it and talk about his judgment as president and if you cannot look at the view objectively his performance last night was compelling, was sharp and it was a sharp contrast to tim kane. maybe they should be coaching and donald trump donald trump for his next performance. what could hillary clinton learn from tim kane's performance. to do or not to do. systemic they both need to know not to interrupt. i thought he did much better than tim mccain did.
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they would not defend their own principles. i thought that was unprecedented. and secondly he said a lot of things that were there. not to be true. donald trump did not see a lot of the things that he did. but kevin did either of these candidates move the needle for their presidential candidate this is something people want to see. i think both head to show that they could be president. and other concerns. out of almost every issue mike pence did a better job here is
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where it donald trump can learn. he needs to not defend certain things. but he does have to do a lot of it better than he did on defending the positions and then moving on. he thought he was comfortable. >> ultimately you have a candidate with the principal. so on and so forth. he would not to defend it donald trump. there was a huge elephant in the room yesterday at some point he wasn't even running in the same election. a masterful performance. thank you so much.
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we will have you both back. thirty-six minutes before the closing bell rings. it starts at 6:00 p.m. eastern time.
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♪ seminole. liz: yesterday on fox business a former wells fargo customer told us exclusively he was scammed by the bank and is so furious he join ad $10 billion class-action lawsuit. listen. >> as far as money goes, i'm really not seeking that is not my main goal. i want wells fargo to be responsible for what they did but not only to me but other customers. liz: that fallout is so not limited to consumers? louisiana senator david vitter says thousands of small business owners were also embroiled in the bank's phony account scandal.
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one group you also don't want to upset, new york city's bravest and new york city's finest. firefighters and police. their pension funds have millions of dollars in wells fargo stock. joining us now the man in charge of those fund in a fox business exclusive. new york city comptroller scott stringer. listen, $160 billion of assets in these investment funds which include the teachers by the way. three weeks ago you were with us and you sent a letter to wells fargo. we brought you back to find out have they reached out to you? are you any happenwer with the situation? >> years ago the pension fund put in clawbacks that we can go after the chairman of the board and ceo demanding $41 million in pay to come back to share owners. i'm glad to say they're doing that. liz: okay. >> we looked at one of the vice presidents, we want $19 million back.
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they're doing that. liz: carrie tolstedt. >> what about senior executives. penalized them $185 million. the stock is down 18%. this is entire scamper pet waited on the people of this country. mayor de blasio sent another letter, saying if you don't complete a investigation and clean this up, our pension fund may decide not to do business with you. we are not playing around. this is something taken people by surprise. it's a shock. reputational harm. but also impacts our firefighters, our our police officers, our teachers that their pension money is invested in their security. liz: president obama, exited and coming out to the rose garden. he announced the paris climate agreement is expected to go into effect in 30 days. this is scott stringer.
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firefightersf new york, fdny, pension fund 19shares, equaling at last check 11 million. 198,000 shares. new york teachers retirement, 1.1 million shares equaling 66 million. you guys have taken a hit. what will bring this back to the point where you're feeling a little better about it? the news broke today that the city of chicago said we're out for a year. we're suspending all business with wells fargo. that is how furious we are. that is the 40-year long relationship chicago had. do you expect or would you like to see the same here in new york? >> we were able to get the pay scale clawback which i think is significant. look, we sent a very harsh letter saying we are prepared to end our relationship with wells fargo unless they complete a thorough investigation and explain to us why this happened and what they are going to do to make sure this doesn't happen again. the mayor and i, we're on the
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same page. we understand they can not get away with this we're very concerned. one thing that would make it better for us, we needd. get rid of the rascals. put in a truly independent board to make the right decisions to clean this up. liz: if you don't see that, will you divest of wells fargo stock? >> we made it clear if they do not clean this mess up in a real way, that this is on the table. liz: is the clock ticking? is there a timeline you want to give them? >> as long as i've been on the show keeps ticking. >> 3 1/2 weeks ago you were on, three weeks. >> that's right. we're actively engaged ferreting out what went wrong, how they are going to fix it. at the end of the day we could walk away if they don't do what they're supposed to do. liz: shareholders filed class-action status. >> we're not there yet. i have a board of trustees i have to talk to but we're in ongoing conversations. >> is this thing eventually you believe in your heart, there is talk about both sides of the aisle wells fargo is just too
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big or broken up at least the chairman position should be separated from the ceo position? >> that is certainly makes sense to me. it's a big company. there needs to be accountability. look we need a real independent board. let's get an independent board. we need for the managers to be held accountable. yes they fired 5300, basically low level workers what heads rolled in the corporate suite? who got hurt here? the people who actually hatched this plan, they're free. there is no penalty to them. and we have to make sure that we hold these companies chairs accountable to the people and the share owners who invest in these companies. liz: you are fighting for the people. will you run for the people? i have to ask you, there is a lot of talk about you running for mayor of new york city? is that something you are or would consider? >> right now i have a very important job as city comptroller. that is the job i'm focused on as you can see between wells fargo, mylan. a lot we have to do to protect
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pensions of hard-working new yorkers and hard-working people around the country. liz: that is maybe. i'll take it. scott stringer new york city comptroller. wells fargo moving higher by 3%. closing bell, 36 minutes away. marissa mayer of yahoo! dealing with yet another controversy as she tries to unload yahoo!. first is was the biggest hack in history of half a billion accounts. now another leak exposing something that may be even more damaging. charlie gasparino has inside scoop on who's really in the running to be twitter's newest owner. and a warning to whoever is interested in buying it. plus are twitter's employees dealing with the company's potential sale? how are they handling it? charlie is next on "countdown."
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liz: if yahoo! uses were not upset with the hackers data was stolen of over 500 million accounts, this may put them over the edge. according to reuters report, that i can't built a program to scan all users emails for specific information given to them by u.s. intelligence officials. this would be the first time a u.s. internet company agreed to a intelligence agency request to put surveillance on customer messages. first time that we know of. trust us, it probably happened already. according to the reports ceo marissa mayer's decision to obey u.s. officials was one of the reasons then chief information security officer alex stamos chose to leave the company in june of 2015. here is what yahoo! said when fox business reached out for comment. quote, the article is misleading. we narrowly interpret every
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customer request for user data to minimize disclosure. the mail scanning described in the article does not exist in our system. taking a look at shares of what's left of yahoo!, remember they have been selling off pieces of it, up about a percent right now to $43.57 a share. can anyone save twitter from failure? a lot of businesses are trying, at least at the moment. sales force, google, disney. those are three of potential suitors who reports say are interested in scooping up the social media company which is reportedly fielding bids right now from potential buyers. but charlie gasparino has a warning about anyone he thinking of paying top dollar for the struggling company with a market cap of 17 billion or more. it involves one specific department, charlie. >> we'll get to that, the twitter supports unit of twitter. that is one of the big pluses to the stock right now. a lot of people say, that twitter sports is the future.
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it is, it is something that will take the company forward in ways it has not been taken before. we'll get to that. there are issues we hear from people inside of twitter. talk about the bidding war. we should point out we were first to report on fox business that twitter was essentially shopping itself over a year ago. put that in context. shopping for a year. if you can't find a buyer after a year, people are having second thoughts. liz: maybe they were waiting for a better price. >> other newspapers have been reporting recently there is another round of bids going out. one name that comes up in those bids that is interested in it is here is what we know from wall street executives, that they are sales force, investors are telling wall street executives they're really unhappy with the possible bid. they are telling wall street executives that there may be, what has been described to me by one person with direct knowledge of the matter as possible investor revolt if sales force goes after twitter.
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liz: really? >> hear's why. the notion is if they do this, they will be paying $17 billion plus, given where the stock price is, that is going to be highly dilutive because sales force does not have the cash on hand. i thk it has billion dollars in cash. they have to do a stock, basically do a stock deal. that will be very dillutive to the current shareholders. what a lot of people saying sales force shares this could take a third to quarter of sales force's value off the stock. that is a big company to buy twitter. sales force is b2b i believe. liz: business-to-business. >> right. liz: crm, customer relation management. >> twitter is b to c. that has investors worried. if they do make the bid, people saying this week could be it, there will be an investor revolt. one other reason, fly in the
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ointment of this deal, the whole notion of twitter sports. i will tell you we're getting multiple reports there is a lot of turnover in that department. it is very hard to do business with them from what we understand. it is a work in progress. so now that is their best thing. liz: what do you mean turfover? top executives? >> people are leaving, executives. we should point out people that matter are leaving. we should point out twitter denies this. they are on the record with us now. they are denying they have any turnover in the sports department but i'm telling you people in there are telling fox business there is degree of turmoil, turnover and very hard to do business with those folks. that is going to be another potential fly in the ointment for anybody bidding on this. i'm not saying this, mark beniof, but if he does it you know will hit the fan. why is the stock up? he wouldn't on cnbc recently,
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read the transcript, seemingly throwing cold water on a potential deal. we look at everything. which is true, they look at everything. look how twitter come down from the highs today amid that. i will say, i believe it when i see it. i've been reporting thing out for a year. may happen, good f them. but if sales force buys this, man that stock is going to crater. that leaves google, facebook, a few other, apple, they got cash. even those investors are very worried. we should point out we did speak with pimco. when you were gone we had a good scoop how pimco executives are worried about them being spun off or merged from allianz because of all the issues involving fees, paying fees for mutual funds, management funds. they are delling this. mr. pimco flak, this is what executives are saying get back to me on time. they don't call you until the last minutes idiots. but they lie to you. the pimco flak, the little flak at pimco lied to me.
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i had story how they would get ceo. went on the record and lied to me. liz: here is the thing just say we'll get back to you. >> say no comment. don't bs me. first off, i'm going to get you anyway. liz: thank you, charlie. >> okay. [laughter] liz: okay. closing bell 14 minutes away. >> [inaudible]. >> and liftoff. shepherd cleared the tower. liz: not only did we have liftoff, we also had a landing. the new space race heated up today to more than fahrenheit 451. successful test of billionaire jeff bezos blue origin shepherd rocket, threatening in a way of elon musk's dream of space travel dominance of spacex. how one legendary dow 30 name is
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planning beat musk to mars. that is next on "countdown." (music playing) ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy. we asked people to write down the things they love to do most on these balloons. travel with my daughter. roller derby. ♪ now give up half of 'em. do i have to? this is a tough financial choice we could face when we retire. but, if we start saving even just 1% more of our annual income... we could keep doing all the things we love. prudential. bring your challenges. i'm claudine and i quit smoking with chantix. smoking's a monkey on my back. it was, it was always controlling your time, your actions, your money. it had me. it had me. i would not be a non-smoker today if it wasn't for chantix. along with support, chantix (varenicline)
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do you have thecare? coverage you need? open enrollment ends december 7th. so now's the time to get on a path that could be right for you... with plans including aarp medicarecomplete insured through unitedhealthcare. call today or go online to enroll. these medicare advantage plans can combine your hospital and doctor coverage with prescription drug coverage, and extra benefits all in one complete plan for a low monthly premium, or in some areas no plan premium at all. other benefits can include: $0 co-pays for an annual physical and most immunizations, routine vision and hearing coverage, and you'll pay the plan's lowest prescription price, whether it's your co-pay or the pharmacy price. or pay zero dollars for a 90-day supply of tier 1 and tier 2 drugs, with home delivery.
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>> rarely hav landing within just minutes in the space race but this morning it went right on your screen on fox business. we showed blue origin's new shepard rocket success fully passing escape system safety test. that with the parachutes is a capsule that would carry people separated from the rocket before floating back to the ground. its rocket booster successfully landed, look at this, in the up right position. no crash, no boom, no explosion. >> there it is. liz: total success. blue origin hopes to send people into space by next year. very ambitious.
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blue origin owned by a guy who always has been ambitious, billionaire amazon owner jeff bezos who yet to announce how much the commercial flights will eventually cost. he doesn't have to. it's a private venture. not only volley in the space race today. boeing throwing down the gauntlet to billionaire dream elon musk. it says it will beat musk's spacex to mars. he plans to send human mans to the red planet by 2024. boeing moving higher by nearly 2% on that ambitious attempt there or at least statement of attempt. $134.70. crude oil those prices skyrocketing as black gold flirts with $50 a share. we're 25 cents a barrel away from that. levels higher since june 29th. jeff flock in the pits of cme where that is traded. today it was something special, wasn't it? >> five straight weeks of drawdowns in the supply of crude
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we have on hand. today it was a big surprise. the street was expecting, you know there to be a lot more on hand than we thought. well, there was a lot less again. so, prices jumped by more than 2%. as you point out, yeah within a nickel of $50 a barrel which we haven't seen since june. that was great for oil stocks, not the stocks in the tanks but the stock market stocks, companies like, you know the oil field companies like baker hughes and, oh, baker hughes and halliburton and the other oil field companies. they jumped by a lot more than the market did today. of course, what the, you know the oil market did for your 401(k) in your stocks took away at the pump. look at gas prices right now. we have rising oil prices. that means we got rising gas prices too. we're at 2.23 the average gallon of regular today according to aaa. that is up two cents since last week, up about three cents since last month. typically, liz, this is the time
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of the year where we begin to see adown swing in gas prices because we're getting away from the summer blends. they're doing cheaper winter gasoline again. looks like this year we might not get that little savings at the pump, liz. liz: we like savings at the pump, jeff. thank you. just keep thinking it is all going to end one day because as we know commodities go up, down, and back up. thanks so much. closing bell ringing in six minutes. we're just off the highs of the session. we're off 106 points. investors as we head toward the election keep hearing there will be selloff after the election depending who wins. well, guess what? my next guest is going to tell you there is a different point on the calendar, the inauguration, and there will be a big move leading up to that. which way? jordan kimmel up next to tell you what to buy to capitalize on that move.
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liz: for many investors election day is the big make-or-break short-term moment but my next guest says forget november 8th. it is january 20th, inauguration day. that's the one to watch. he is calling for the dow to make a dramatic move and he is here to say that move will be to the upside, dow 20,000, when the new president is sworn in. he is fax asset management portfolio manager jordan kimmel. 18,000 to 20,000. >> sound huge. not even that big. maybe 9% from here. i think what happens here, uncertainty comes away, whoever wins the election. realize all the policies are really not going to change. but i think the interesting thing about the market here, the individual hasn't even participated for years right now. they have been blown out. there has been a lack of trust in the business. and we've known each other a while now. we've done a lot of things already. liz: about 16 years. >> what is interesting though, investors i have run three different strategies. they're not interested in my
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highest return strategy right now. they're looking for the one with the most integrity. companies with the most trustworthy, highest culture. this is something i've been talking about for years. investors have been scared out of the market and they need to be pulled in with higher quality companies. liz: you're putting up things like nvidia and ubiquity. people are chairmaning you around it like sharks. >> i don't think they're risky. pe is not as high as you think. growth rate is higher. nvidia is name i mentioned years ago. n individual you yaw right now in my portfolio what they do with the chips is high end graphics. the whole idea, diversified portfolio. tech is leading the market. we can't be in all tech. there are a whole lot of other names. we're happy to have them. they're great holding. liz: jordan kimmel.
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fax asset management. jordan says inauguration day you will see bigger gains for your portfolio. [closing bell rings] liz: there is the closing bell. first win in october. david, melissa, i hand it to you for "after the bell." melissa: stocks rallying into the close. major averages all ending the day higher. i'm melissa francis. david: i'm david asman. this is "after the bell." we've got you covered on the big market movers but first here is what else we have for you at this hour. deadly hurricane barreling down on florida and the east coast. at least one airline is already canceled flight to southern florida. we are live in the fox weather center with what you need to know. meanwhile hundreds of american heroes dying while waiting for care. outrageous. new details from a new report on phoenix's veterans affairs hospital. donald trump holding a rally in nevada right now, praising his running mate mike pence's performance at last night's debate.


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