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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  November 22, 2016 3:00pm-4:01pm EST

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trish: his son, joe thomas, jr., plays in the nfl as a linebacker for the green bay packers and i believe the 55-year-old is getting his degree at the state college as well. i will be back with you next week, enjoy! liz, big day! >> huge, huge, trish, have a lovely thanksgiving. it's not how the market opens but how it closes. right out of gate at opening bell, we hit 19,000, we are there right now. in fact, we're at 19,010! the first time we've ever seen that 19,000 level any, move higher whether it be the dow, the s&p, the nasdaq or the russell 2000 that locks in a second day in a row of record closes. the trump rally boosting by 3% the s&p and the dow since election daysa the president-elect gets more questions about what he plans
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to do with massive business interests? no doubt he was peppered with questions about the thorny issue at that meeting with the "new york times" reporters just over an hour ago as donald trump continues to meet with candidates for his new administration and reveals he may have a role for dr. ben carson after all. you're looking live at the trump tower where trump is expected to depart for thanksgiving holiday at any moment. we're going to have that for you live. and at this hour at the white house, president obama is expected to honor 21 americans with the highest award of civilian to receive in our nation. bold faced names from business to sports to entertainment and the arts will be honored in this hour. bill and melinda gates, basketball legend kareem abdul-jabbar, robert de niro, many more a-listers. terror threats. the biggest fleet of driverless cars in the u.s.? where will they roll out? i'll tell you. and charlie gasparino with
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more on the next treasury secretary. less than an hour to the closing bell. a lot of chatter in dow 19,000. you got witness that. let's start the "countdown." 19,010.55. breaking news, not just the dow making history, the s&p is racing past 2200 for the very first time ever. right now for the s&p, you can see it at the moment, we're at 2200.93. all of the benchmarks are on track for the twelfth record close of 2016. here's what's boosting the s&p higher, names you all know well, dollar tree, urban outfitters, monster beverage up 3.5%. we are never going to forget russell 2000, the small and mid cap growth names. look at this chart since the election, what an amazing performance by this index, it's up 13 days in a row. longest winning streak in
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nearly 21 years and gives you a better sense of exactly how strong this rally is when the small and mid cap gutsier names start to do this well for this long. retailers stealing a bite of this. j.c. penney, kohls, sears, team fox business out in front of latest developments from politics to business to your money. connell mcshane with the president-elect's news breaking meeting with the adversary the "new york times." peter barnes with global reaction to trump tearing up the tpp trade deal. and expert traders watching the money flows indicating to them whether we will close above dow 19,000 today. got 57 more minutes to see if that happens. cameras are fixed on trump tower as the president-elect is scheduled to leave at any moment. heading to mar-a-lago estate
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for the thanksgiving holiday. before the billionaire businessman jets off for ritzy turkey celebration, what's going on inside trump tower, and which announcements have yet to be made? take a look at this. we put together this calendar. around this time eight years ago, president-elect barack obama announced he was tapping timothy geithner as his treasury secretary. that was november 24th, 2008. today, november 22nd, 2016, still no word on who will assume that vacant position. we are not rushing donald trump. we're not saying he's behind on this. he's not. but our business audience viewers have lots of questions floating around this hour. it's become cocktail party conversation, water cooler chatter to the nth degree. two of the most prominent names floatedare former goldman sachs exec steve mnuchin and former jpmorgan ceo jamie
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dimon. who knows? live to connell mcshane live outside trump tower. we can't ignore jeb hensarling, are you hearing any major announcements before mr. trump departs? >> nothing on that, before the thanksgiving holiday, if we don't get anything in the next hour, we're unlikely to hear major announcements until after the long thanksgiving weekend. the closest thing we have coming out of here today is not on the treasury secretary but the possible housing secretary. ben carson was here with a meeting with the president-elect earlier today and as he left, mr. trump tweeted out he was seriously considering dr. carson to be his secretary of housing and urban development. no announcement but considering him for that position. after those meetings of carson and others trump did head over to the "new york times" for that get together, the one that almost didn't happen. the president-elect started very early in the morning with
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the tweet saying he canceled today's meeting with the failing "new york times" as he put it. when the terms and conditions were changed at the last moment and the "times" responded with a statement saying we did not change the ground rules at all. made no attempt to. they tried to asking for a private meeting and not an on-the-record segment which we refused to agree to. after that did happen, "times" reporters tweeted out bits and pieces of what was going on, on the record. while it was going on. there's been a lot of questions of potential conflicts of interest from mr. trump with regard to the trump organization, the business empire he's run so many years and the conflicts between that and the new job, soon-to-be president of the united states. maggie haberman tweeted out a quota, tributed to the president-elect --
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he was still looking into doing that. so kind of interesting stuff, a lot of back and forth, mr. trump plans to give that business over to his kids as he's planned all along and plans to get out of the cold in new york and head to florida soon. the motorcade should be heading out into the airport within the next hour or so. >> we're going to grab that shot the second it happens. he was tweeting the fact that tim cook of apple gave him a call. apple would love to bring back some of the cash it has parked outside of the united states. he's promised he would give that holiday for the repatriation of profits. >> reporter: thought it was interesting he had conversation, he said, he told "new york times" reporters with tim cook and bill gates, right? pretty big leaders in the business world. >> connell, thank you very much. connell mcshane. and again, the second that the motorcade goes out from trump, we'll take that shot.
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from naming cabinet to outlining what he'll do first. the president-elect decided to bypass the middleman, the media and address americans directly. last night he announced in this video he plans to do a lot in his first 100 days but when he neglected to mention the mass deportation of illegal immigrants or building the wall on the border with mexico, pledging to repeal the affordable care act, that did grab a lot of attention here. when he did articulate the following he vows to renegotiate trade agreements, cut regulations and impose restrictions on lobbying. one of the issues had the international world chattering up a storm. peter barnes with the global reaction with trump's promise to outright torch trade deals. peter? >> reporter: yeah, and specifically, liz, he said he was going to back out of trans-pacific partnership in that video last night. he said that it was one of his plans for executive actions. listen.
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>> i am going to issue a notification of intent to withdraw from the trans-pacific partnership, a potential disaster for our country. instead, we will negotiate fair, bilateral trade deals that brings job and industry back to american shores. >> reporter: today, other countries in the tpp said they want to keep the agreement and said china, which wasn't part of that, could join if it wants but as you recall, china pushing its own version of an asian-pacific trade agreement called the regional comprehensive partnership which the u.s. was not invited to join. that was one of the reasons president obama said he wanted to do this deal was to try and make sure china didn't take control of asia-pacific trade through its agreement. also, mr. trump did not mention anything about renegotiating nafta last night. he promised to quit that agreement if it's not improved but experts today say that if
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trump reopens that deal, canada and mexico are going to seek their own concession from the united states, so could this drag on for years, liz? >> well, of course, the gears of the government work slowly. we have learned that. peter, thank you very much. from the first 100 days to 19,000. not days but the dow. the trump rally gaining momentum right this second at 19,011 and climbing. so is the chance of a december rate hike what the market's telling us right now really at 100%? it briefly touched that level of 100% chance before retreating at 98.2% in the fed funds futures that we will see a rate hike. that's not all. is 50 the new 25? as in 50 basis points? will we see instead of 25-basis-point hike, a 50? sounds ridiculous, but growing chatter on wall street. i want to take it to the tradeers and the floor show at the new york stock exchange,
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the cme group and the nymex. john corpina looking first at this rally. do we close above 19,000? >> it's a psychological number and watching it all day. any time we've gone above it, we've come down off of it, looking at the imbalances, we have a big sell program that looks like it hit the market. i don't think we get it today. that doesn't mean it's off the table for the near future. >> john revealed things that traders get and we're passing it onto you. sometimes the floor of the new york stock exchange, art cashin will walk through and say there's a big sell order at the close. that gives you an indication we might not close above 19,000. to the chatter whether we see a 50-basis-point hike, versus 25. any chance of that? >> i don't think we feel confident we get 50. the fed is going to move slowly, they're going to go 25. been a year since we've seen it last time. the market didn't react
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positively to it, end of december was choppy, january and february choppy. i think they might be cautious and take it slowly. >> todd, your thoughts on that but also on the fact it's pretty much priced in to have a 25-basis-point rate hike come december 14th. not just the market charging ahead. we're at 19,009 for the dow. but we've got october existing home sales at 9 1/2 year highs. the data are coming along with it? >> the data is supportive only of a 25-basis-point hike and as we just heard, it's been a year since the fed has really been in player, but yet they've been talking a big gain to january all the way up through the september fomc. i think the biggest disappointment is going to be the november minutes which come out tomorrow which were supposed to be the highly touted gateway to the fed's possibility of raising rates, now it's a done deal, you can see that behind me in the bond
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market, bonds had a back-and-forth day. equities are excited. there's no fear that the fed is going to raise rates. that's a done deal. the only thing we look forward to tomorrow is the possibility of a forward guidance indication, but at this points, the fed has not been clear with th that. >> stand by, we want to take it to the white house where medal of honor -- medal of freedom recipients are coming into the room here at the white house, and the president, they're standing for president barack obama as they walk in, and again, who are the luminaries? hard to get michael jordan and kareem abdul-jabbar in the same room. they're going to be there along with ellen degeneres, robert de niro, bill and melinda gates, artgehry, richard garwin,
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eloise cobul, we are going to keep an eye on this and monitor. this as soon as he begins to put the medals on even to bill and melinda we'll take some of those shots. let me take it back to the floor show, and elliot warren where we look at oil at the movement november 30th is getting very close, is it not? that's when opec meets and we've seen oil take off in the past couple of days where. do you see this going? >> liz, your guess is as good as mine. we know this is rallying on the words of a few combies guys of opec, it can be impossible to predict. you guys keep talking about this trump rally. i want to say that this market held 18,000 this whole entire time. it was the fear of the unknown that prevented the rally. we'd be up here whether it was hillary or donald trump. it was the fear of the unknown holding the market down and wanted to rally the entire time
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because it didn't sell off. it held on month after month, now that they know and eliminate the unknown factor, up we go, in my opinion it's wanted to rally the whole time. >> you make an excellent point. before we go, john corpina, we're at dow 19,010. are stocks too richly priced? take something off the table? >> i don't think so, i'm bullish. it will continue to go higher. the market has wanted to move higher, now the ceiling has been taken off, it is going to continue to move that way. >> if i don't see you, happy thanksgiving. back to the white house where president obama is putting forth the speech to bring the medal of freedom to at least 21 recipients here, and let's listen in. [laughter]
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>> he's good with computers but -- [laughter] >> fortunately melinda believes in second chances and the world is better for it. for two decades, the gates foundation has worked to provide life saving medical care to millions, boosting clean water supplies, improving education for our children, rallying aggressive international action on climate change, cutting childhood mortality in half. the list could go on. these two have donated more money to charitable causes than anyone ever. many years ago melinda's mom told her an old saying to than even one life has breathed easier because you lived, that is success. by this, and just about any other measure, few in human history have been more successful than these two
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impatient optimists. frank gehry has never let popular acclaim revert his impulse to defy convention, i was an outsider from the beginning, so for better or worse, i thrived on it. the child of poor jewish immigrants, frank grew up in los angeles and throughout his life embraced the spirit of a city defined by an open horizon. he spent his life rethinking shapes and mediums, seemingly the force of gravity itself, the idea of what architecture could be, he decided to upend, constantly repurposing every material available from titanium to paper towel, too. he is inspiring our next generation for arts advocacy in our schools, from the guggenheim to chicago's millennium park, our hometown, to his home in santa monica, which i understand caused
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consternation among his neighbors. [laughter] >> frank's work teaches us while building may be sturdy and fixed to the ground, they can lift our spirit, they can soar, and broaden our horizons. when an undergraduate from appalachia set foot on the national mall she was trying to figure out that war is not just about victory or loss but about individual lives. she considered how the landscape might shape that message, rather than the other way around. the project that maya lynn designed for college class earned her a b+. [laughter] >> and a permanent place in american history. [laughter] >> so all of you b+ students out there. [laughter] >> the vietnam veteran's memorial changed the way we think about monuments but also how we think about sacrifice
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and patriotism and ourselves. maya has given us more than places for remembering, she has given us places to make new memories. sculptures, chapels, homes, physical acts of poetry reminding us that the most important element in art or architecture is human emotion. three minutes before armstrong and aldrin touched down on the moon, apollo 11's lunar lander alarm triggered. red and yellow lights across the board. astronauts didn't have much time but thankfully they had margaret hamilton, a young m.i.t. scientist working mom in the 60s. margaret created the software that allowed the eagle to land safely. keep in mind, software engineering wasn't a field yet. there were no textbooks to follow, so as margaret says, there was no choice but to be pioneers.
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luckily for us, margaret never stopped pine either and symbolizes that generation of unsung women. trish: tom hanks, bill gates, frank gehry, the architect. famed individuals, you have diana ross and cecily tyson. when they start to award the medals, we'll go back to it. let us get to something that involves the white house, the next occupant of the white house, donald trump makes his home at new york city. he's about to leave town any moment ahead of the thanksgiving celebration thursday. he like all of us doesn't want to wait in line at the airport. he doesn't have to wait in line at the airport. new york city police are working overtime to make sure he is safe in the big apple making sure the rest of us are, too. the nypd spending one million dollars per day just to protect donald trump while he's in the
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city. this is also the busiest time of the year as the big apple works to prevent mass casualty attacks on holiday events such as the thanksgiving day parade. rick leventhal, you are there in new york city and isis came york's thanksgiving day parade, but also the subways beneath our feet. new york has the busiest subway system in america, and there are some six million people who ride it every single day. there have been attacks against other mass transit systems in big cities around the world, and criminal incidents as well are unfortunately common with the trains and platforms can get jammed with commuters. the nypd has a fully trained counterterrorism squad that roams the stations on a regular
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basis armed with weapons and tactical gear. bomb-sniffing dogs, radiation gear and police are on the threats for pick pockets, sex offender and emotionally disturbed persons who have attacked commuters, pushing them onto the tracks. the key is to pay attention, keep stuff in front pockets or close to your chest. >> make sure if you're carrying a bag, especially a female, keep that bag in front of you. make sure the zipper is closed. backpacks, i don't recommend backpacks, easy for a pickpocket to get something behind you. >> mass transit, something terrorists have talked about, i think they dream about, about causing some kind of terrori
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people are expected to pack the sidewalk from building to curb, liz. >> and you have to believe, and you've covered a lot of this in the past, rick, they're smart enough to say, oh, i say isis, we want to drive trucks through and planning something completely different? >> that's why they have so many tools and officers in the high-profile places and low-profile places trying to keep an eye on everything as best they can. >> that's why we thank our police every day as they work hard on thanksgiving. rick, thank you so much. rick leventhal of fox news. we're looking at dow 19,018. will john corpina be right we will not close at or above 19,000? who knows? we'll know in 37 minutes. the best laid plans,
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facebook plans to bring internet to the entire world took a big hit in december when that satellite blew up on a cape canaveral launch pad and another strike, we're getting the details on a second setback straight ahead. and look out paul revere, boston's most important ride may be knocked from the history books. driverless carriage head to make history as it rides through the streets of beantown. we've got robots on the road exclusively on "countdown." you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do? drive three-quarters of a car? now if you had liberty mutual new car replacement™, you'd get your whole car back.
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♪ liz: 19,014 where we stand for the dow. facebook mission to connect the entire globe by a mass of drones is hitting tour lengths. national transportation safety board investigating a crash that occurred during the very first test flight of the drone that left it with significant damage. see how big the drone is? that is supposed to be putting
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out internet via the airwaves. the test was conducted on june 28th. initial reports describe the incident as structural failure. facebook reported initial flight tests was success because it lasted three times longer than initially expected. all right. good for them. one if by land, two if by robot? cambridge, massachusetts startup nutonmy set to hit the public streets of boston to test out autonomous vehicles a fleet. they began testing cars in singapore in august. they hope to roll you out the fleet in the southern pacific nation in 2018 well ahead of automakers bmw and ford. when can we expect the row he bow taxis to hit the u.s., boston no less? not the easiest streets to drive with even when gripping the steering wheel. the ceo joins me for fox
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business's tech minute. how is the testing going first. >> it is great. we just got our first cars in the country ba. we've been making maps and ready to take the first autonomous drives in the future in boston. liz: what initial problems that you found out you tested in singapore that you had to work out? we love to hear the glitches and things like that. >> there is always glitches. the most difficult thing, even if you can program a car to follow the rules of road, sometimes human drivers have other ideas. they have to be intelligent enough to adapt the way you and i drive. that is technically very hard. we're making progress towards making robot cars drive less like robots and more like people. liz: i find it fascinating. i have driven in boston, trying to zoom around downtown crossing i would be amazed if this will work. is it going to work? what are your hopes and dreams for this fleet as you actually
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jump ahead of organizations like uber and alphabet google? they're trying to do the same thing. >> you know, first of all boston is a great city to be testing in. it is a historic city. it has a many could plex road network. we know if we can drive well in boston we can drive well anywhere. liz: true. >> we welcome competition from other companies large and small. this is a global opportunity. there is lots of room for many players. we know we have a great path to success. liz: the cars you're using are the renault is it zoe? >> renault see zoe, it is an electric vehicle. liz: you're ahead of fords of the world and bpw and lexus. do you sit out there that you will beat those guys, you will beat those guys? >> we have a great start in singapore. we're on the road in boston. within the coming months we'll announce a few other
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partnerships in other parts of the world. we're focused on getting to market early in some. key markets worldwide that are interested in putting these autonomous cars on the road. liz: at some point are we all going to be in the robot taxis? i hear, oh, 15, 20 years nobody will have their own car. i like driving. >> and you will be able to drive. this will be a choice. these robot cars, when we get the technology exactly right, they will be cheaper, they will be safer and more efficient than today's manually-driven fleets. that is really the promise of the technology. sure if you want to drive your own car in the future, no one will stop you. it will be a little bit more expensive and maybe a little more dangerous. liz: you will ruin the whole psychology from los angeles. i'm from l.a. you go to a laker game, doctor, nobody asks where did you sit, where did you park? that is all anybody cares about. >> wouldn't it cool be not to have to park at all and pull up in a driverless car.
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liz: we applaud you and the gang at mit. congratulations. good luck maneuvering around the north end in boston. >> thanks a lot. liz: the nutomomy taking a shot out there. we love that kind ever innovation. 27 minutes to go before we either -- dow 19,021. i know it's a number. what are we on planet for? let's enjoy this. the president of the united states, barack obama, at the medal of freedom ceremony right now. this is the east room at the white house. president-elect donald trump expected to leave trump tower for florida for his thanksgiving holiday at any moment. we'll bring you both live both of these stories with we come back. our political experts whether they think donald trump should grant hillary clinton clemency. he says he is not interested in going after her like he promised back during the election. stand by. they're coming up next. ♪
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>> not good that someone with temperament of donald trump are not in charge of the country. >> because you would be in jail. >> lock her up. lock her up! lock her up! lock her up! liz: lock her up? president-elect donald trump having a change of heart, donald trump in the past hour 1/2 and met "new york times" journalists was asked if he was definitely ruling out prosecuting hillary clinton. trump replied, quote, not something that i feel v. strongly about.
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earlier senior advisor kellyanne conway said there is no plan for the trump administration to investigate hillary clinton for her private email server or clinton foundation. let's bring in david mercer, democratic strategist and pub strategist and deputy assistant to george w. bush, brad blakeman. we have breaking news from dru jones newswires. donald trump is apparently leaning asking former massachusetts government mitt romney that he would be secretary of state. he is one step closer. south carolina governor nicky hailry, according to dru jones newswires, to be the ambassador to the united nations. things are moving quickly. what do you think of these names? >> i think they're terrific. lincoln was one of our greatest president, the reason being he brought his rivals into his
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counsel. liz: right away. >> right away. the reason he did it because they had more in common than they do in difference, that is the love of their country and the wish to have the best possible result from a donald trump presidency. he needs help and i can't think of two better people, if so choosing, chosen to have him do those jobs. liz: mitt romney is getting certainly some praise from people on both sides of the aisle, david, to be secretary of state, at least from the democratic side. i think you guys like that better than rudy giuliani, perhaps? >> i don't think rudy giuliani would get picked given his comments after his interviews. and i don't think donald trump was very happy with his comments in trying to position for the job. that said, i don't think we need to go far, as far back as brad mentioned with regard to rivals. in the secretary of state
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formally, hillary clinton, being chosen for that job he by barack obama. and serving as well as she did. it is good to see that he is looking for diversity in terms of positions and how to conduct business on behalf of the american people for our security, for our relations abroad and otherwise. so, look at diversity in the choices he is seeking to make. liz: let's move to this issue with hillary clinton, now appears to be non-issue, brad we're big proponents moving forward not backward. when he does this, by the way a lot of "new york times" reporters live tweeting the meeting. that we can put up some tweets. that something he would not feel strongly about, that it would be divisive for the nation if he went after hillary clinton as he
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said he would. up some. people who had really voted for him who were right there with the clarion call of quote, lock her up. now "breitbart".com headline, broken promise. trump doesn't wish to pursue clinton email charges. brad, i mean, is this just done? he is not going to be doing that? >> well it is certainly not a priority for him as president you but he may not have much to say about it because he is going to give independence to the justice department and to the person he chooses. liz: correct. >> a lot of this will be hashed out. remember, in senate confirmation hearings, whoever the president-elect nominates will have to go through that i'm sure this is where the questions are going to be raised directly to the person who will run the justice department. i think donald trump was being merciful she has been tried in the court of public opinion and resoundly convicted. sometimes the court of public opinion can be more harsh than a court of law. liz: and david, he also said, he doesn't want to cause the
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clintons any trouble or pain, which i found very interesting too. he is moving on. >> oh, what a glorious, mercy full donald trump. come on, liz. we all know that only reason he is saying this is because he wants us to forget, even over a weekend, that he just paid $25 million in a settlement on a fraud case, a fraud case. >> come on. >> that is in a court of law. hillary clinton has been through several committee investigations, the fbi, the justice department, and there is not a thing on her emails or benghazi or anything else that donald trump wishes he could maybe go after her. liz: you're saying it's a shiny object to distract us? >> liz, liz, the only, what we, what we should be discussing is, how on friday why is it that he had to pay $25 million to settle a fraud case. liz: we did discuss that.
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>> here we are on tuesday, talking about hillary clinton with no basis or foundation, for him pardoning her? pardoning her for what? >> no they didn't use the word pardon? donald trump didn't use the word pardon. >> i'm sorry, i thought -- liz: quickly. >> i will say this he only raised this in debate when he was getting beat in 3-d bates for no vision for america. >> he is the president-elect. get over it. >> he turned around to her and said i would prosecute you but you know w he is changing his mind. as he is going to do on a lot of other issues and the american people should get used to it. it's a con. >> look, donald trump may not pardon her but barack obama may. and that may be to her criminal liability. >> you don't know that and barack obama is not pardoning her. liz: president obama is speaking right now about somebody who supported hillary clinton, bruce springsteen, the rocker. he is one of 21 who are about to
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receive the medal of freedom. this will go alphabet i cannily by the way, folks at the white house. alphabet iically, kareem abdul-jabbar will be first up to get the medal. 19-time nba all-star. led the lakers to multiple championships. a spokesman for social justice. the dow is charging ahead with 19,034 with minutes left. we're not done talking about business certainly. the business question for donald trump. conflict of interest? donald trump calls his brand hotter since winning the white house. why the president-elect thinks he can run his business and run the country at the same time says charlie gas who has exclusive details -- charlie gasparino, who has you can close sieve details next. he is about to break it. i love getting more for less.
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liz: it was a stretch physically as president barack obama reached up and put the medal of freedom around the next of nba star, so much more than that, kareem abdul-jabbar. kareem abdul-jabbar all-time nba leading scoring. got chips for the lakers and milwaukee bucks. six-time mvp. getting medal of freedom, ellen degeneres and talk show host got her medal behind microsoft's bill gates. teary-eyed when she came out and said i'm gay and announced it. robert de niro.
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>> they're all democrats. kind of weird. they're all liberals. liz: frank geary is. he is sitting here editorial boards at nation's newspapers are sounding quite the alarm whether president-elect donald trump has a serious conflict of interest here. "new york post"'s editorial board, even appearing of monetizing the presidency with another trump band would be outrageous. "new york times" says sell businesses. liquidate the trump band. "l.a. times" says he needs to avoid appearance of conflict. charlie gasparino with exclusive insight trump's thinking and others about this. >> i would throw up the quote he gave "the times" because it is instructive to see the exact quote he told "the times" how he could run his business, essentially what he said. don't take my paraphrasing of it. look exactly what he said, he can run his businesses and run the white house perfectly. there it is right there.
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liz: what does that even me? >> in theory i could run my business perfectly and then run the country perfectly. there has never been a case like this. now, that to me is insane. we should point out that, you know, no modern american president, mitt romney wasn't elected. he was businessman. i'm sure he was out of a lot of invests when he was head of bain capital, but no modern american president has really had this many business entanglements, and i never heard of anybody say that they can do both at the same time. and i'll tell you, if he thinks he can do both at same time, we talking to lawyers that understand bribery issues an statutes, federal statutes that prevent government officials from being bribed he will walk into a hornet's arrest. there are anti-bribery business and if he does business in country x and country x does something here, big businessman mixes business with politics, he
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is really opening himself up to potential -- like serious legal problems. liz: as we continue the conversation, bill and melinda gates getting medal of freedom. >> more liberals. liz: bill gates, started in 1975, microsoft. by 1987 he was world's wealthiest man, taken much of the wealth with his wife at helm, bill and melinda gates foundation. solving the world's problems, curing diseases and much more. let me ask you this about the blind trust, charlie. the blind trust -- >> if he put it in a blind trust. liz: his kids would run it. even the "new york post" which endorsed him said, one run by his children will not pass the sniff test. >> it doesn't. clearly he is so close to his kids. michael bloomberg, when he ran city hall, disassociated himself largely with bloomberg, lp. i'm sure there was some contacts. he was not president.
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he was mayor of new york. hard for mayor of new york directly benefit bloomberg, lp. i guess you could do something with wall street and make them buy your terminals but it's a stretch. as president of the united states, if you're doing business overseas, you can do that. that is the problem he has. i will say this, putting context, the clinton foundation had the same problems, right? hillary clinton in the white house. those were, as secretary of state. liz: revealed. >> those were undisclosed. these are more disclosed. still he has to figure this out. it will be his answer to the "times" today was unprecedented. he said he can do both. we shall see. liz: we're at session highs right you now. i'm giving charlie the credit. look at this. >> give donald trump -- this is trump rally, really. joe fahmy, called it. trump wins, market goes to 20. liz: 19,038. guess what? s&p, nasdaq, russell 2000, also if we close here are at lifetime fresh highs here.
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when we come back, mark luschini, he has billions in assets. what if some of these promises don't come through in the first 100 days? what should be you be buying now?
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liz: folks, we are pretty much very close to session highs. we've seen a 676-point run up on the dow since donald trump's surprise win week ago tuesday. we blasted up through dow 19,000. they believe donald trump's policies will deliver things quickly. what if they don't. mark luschini on what to do. what do you do? do we see selloff or correction if we don't see action more quickly? >> i think so, liz. market pulled forward that pro-growth policies put in place in terms of size they have been talked about on the campaign trail and as well in time such that the markets discounting probably their impact just over the course of the next couple
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quarters. and we may not likely see that unfold. as a consequence, perhaps one needs to be thinking about what other sectors didn't rally as a consequence of this trump rally and those might be areas i would be wading into. liz: okay, we're talking about telecoms. we say utilities and reits and staples are defensive. individual names, at&t, walmart. we're coming up against something we've never seen, dow 19,000, plus an s&p 2200, mark, how long does this rally continue? liz: i think it has a chance continuing through at least the end of the year. it is that time of the year, santa claus rally typically erupts. it is bullish setup going into the end of the year. it will take time for euphoria associated with a trump victory i think wear off. some aforementioned sectors you mentioned still offer fat dividend yields f we don't see quite ambitious policy initiatives that were talked about on the campaign trail come to fruition quickly, those
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sectors might hold up pretty well and provide investors a pretty respectable return. >> liz: you know what? we ordered a special graphic. it is raining money. not just 19,000. 19,028. first time we've seen it. david and melissa, it is yours. [closing bell clings] melissa: here we go g again. record day on dow and nasdaq and all-time highs for russell, s&p 500 and. dow here above 19,000 first time ever. david: it is not just because of the fed but hope for real policy changes. i'm david asman this is after the bell. we have you covered on big market movers. here is what else we have for you this hour. transition you know way at trump tower as we speak. president-elect meeting with top advisors as he prepares to leave new york city for warmer weather down south and brief thanksgiving break.

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