tv Countdown to the Closing Bell With Liz Claman FOX Business December 8, 2016 3:00pm-4:01pm EST
on a personal note i want to wish a very happy birthday to my two little girls elizabeth and alexandra who turned seven years old today. i love you so much. you can have a wonderful celebration tonight. liz, take it into the close. liz: donald trump's plane just took off from laguardia airport for columbus, ohio. after that terror attack. then he will jet offer a big thank you to her in des moines. what once seemed like a pipe dream was a very possible reality. we are less than 500 points away from that 20,000 level right now. all five indices are racing to record close. you must stay with me through this final hour not only to witness that but were also can
appoint out to you what specific things you need to look for that may indicate the wall street rally might be about to reverse. it was super busy day for donald trump. the transition team is still in full swing. they just had the interview. we are watching for all of the braking action on the trump train. you name it the trump carrier deal getting juicier by the moment. in indiana chamber of commerce ceo was us exclusively on his fight with united steel workers.
the hottest gift of the season has been sold out for five years. less than an hour to the closing bell. liz: we did mention that donald trump's plane is in the air right now. the minute it lands we will get that to you. at your own peril to ignore this rally. no end in sake yet for the 4-year-old market rally. at the height of the session we were up 115. the russell 2000 look it at in a nice game there. s&p up four points.
that's a record. they're on track to close at levels of -- never before seen. the financials are once again the leaders for example we have goldman sachs. you see the levels here. let me get that to you. we don't have it up on the screen. goldman sachs at the moment is standing at $240.59. when you look at the index hey came yesterday. they are showing up to this for the first time in two years and that railroads and airlines they are doing it again. with the transports up 20 points. they enjoyed a 25% gain in that i aggregate this year. look at yoga apparel giant not doing the downward dog but
rather the peacock pose. cleaning away. up 15 and half% shares of lulu lemon back over $70 today. as a first-time we seen that level since early september. is on track to hit 4 billion in revenue. he's been known to strike like a peacock as well. it was totally ducked into the building. as a doozy of a name. the former ceo. foxbusiness learning that they know the countdown viewers. he was in the trump tower and is the last few hours insiders are revealing that he's a possible secretary of state candidate. what makes this so confusing
that he has publicly bashed board ford for sending jobs overseas to mexico. before that he ran the commercial jet business very well. they are in fact the trump pick for secretary. we a lot unfolding this hour. they go inside trump tower. the potential that just keeps going with the names in a way that kind of contradict his previously stated opinions. >> you wouldn't think it. charlie gasper in is the only one not be considered at this point.
it does seem like it's the bigger and bigger lists and we were all surprised to hear that the trump transition source that he is going to be considered. he never really got a look at him today. he is in the running. we've been told that. the experience is coming from the business world. the comments about the price tag for air force one came earlier this week but ford. watch this. >> they fire all of their employees in the united states. when it comes back across the board now comes in free we will charge them a 35% tax. >> those comments made after he had left his position as the ford ceo.
it's been an interesting day here. a possible hillary clinton running mate. they said the meeting went well. it has been affirmed that he will be picked as a labor secretary. the theme and merging of these business leaders coming here to trump tower and many leaving with an offer for a possible position in the administration. that's it for new york today. on to ohio state to meet with the victims from last week. and then the rally in des moines this evening. >> can you go shopping next to tiffany's now that he's gone. >> that's what i'm talking about.
great to see. a day of records across the board. they have the life blood of traders. the problem reportedly solved. they raised their past new lifetime highs. i wanted to perform a little community service with the traders. where should they be looking for signs. i get nervous. what should people be watching for even when you brush up against the tao 20,000. they stay in place and remain here.
there is short-term value within the sector at all times. just to keep an eye on any metric. the levels that hit so high. the program trades are short lived at this point. were not seen any market rallies at the end of the day. that is an important sign. were seen in the market rallies close on high. there is nothing really short term. >> i think you've been around slightly longer than matt. the local news anchor who is looking for the whodunit we have to be careful here.
>> here's what i think. at this point in time every time where hearing you and others, and comment about the quality of people that people that he is interviewing in the financial world they are lighting up and say he's not a politician. when everybody is in their place not a market top. we will see how deep that goes. >> you're really looking and passed there. as we look at oil today so moving higher even as some doubts come in. there is another meeting this weekend and according to reuters five non- aspects.
what are you interested in. i have to look at asia because that's where racine economic problems. the benefit is can be america first it's can create more problems for asia. we've have this incredible capital outflow. it could cause problems for companies that are dealing in china. the same time you have it yet it yet with this huge corruption crackdown right now and that could slow their economy as well. were doing it last year in the chinese stock market. i'm not envisioning that type of a view but i do think there's a risk if you see a major hiccup it could trickle down to our stock market.
i thought if they lie about the data they control the data. i say watch out because there are ways to check on oil consumption. i will let you talk about that in the second. and it does slow down a means they're not building in china as much. >> we did see some good import numbers. that could be because of trying to buy before donald trump there. the people that matter are there. they will be making most of the cuts. i think these other ones show up. they don't have to do it much. i'm with all of you. gentlemen, thank you. i don't want anybody to look at something negatively is certainly for those these are
great. people's pensions and people's pensions and 4o1 kays are briefly right now. matt, nice to see you. closing bell dies we are 47 minutes away. the dow is up 77 points. i get a lifetime highs. what's bringing us there. take a look at the top. you do have things like walt disney. but let's look at the bottom as well. you will see pfizer among the biggest losers after british regulators have them. hundred $7 million for overcharging on an epilepsy drug. trump was very concerned about high drug prices. from a is not on the positive side there. chick-fil-a you better watch it back. they're now serving up waffle fries. very excited.
he does have to wait a while because the burger behemoth is only selling these waffle fries in canada. i dislike the regular mcdonald's fries. it's up about three quarters of a%. we think the trump transition has given us some mind blowing pics so far. now charlie is coming down quickly here under the set to tell you that he may be considering an astonishing pick to replace fbi director james coming really, charlie is about to break that next.
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investigation. on this came after bill clinton met with his boss. here is what they're getting out of trump tower. they say we should point out that we ran this by hope hicks and she said no current plans. and here is the other rob i would say. if he does go this way is very controversial. they're considered independent of politics. he gets a tenure appointment.
he has seven years left. he was appointed in 2013. he has seven years left. then a hard and fast rule. you can get rid of these guys. you can figure out ways to do that. he didn't fulfill his job there is a way to do it. i think there's only a couple of cases where this happened. we would point out that j edgar hoover spanned many presidents. he outlived everybody. this is controversial. this is what i'm hearing from
the key transition team. it is talking about this. his spokesman says no. it looks like he is thinking about life after james comey. given what happened in the election. i don't think we will hear a secretary of state choice. he does had people he he's ruminating about. >> i'm glad you bring up a bill clinton. it was at william sessions. and so i was right about that one. go ahead. a charming individual. but it can be done certainly.
call me was in a very difficult position. >> i think he can make the case that he did it handle it that well. the evidence about using it in the lot was pretty plain. then if you're to give her a pass and then reopen it at the last minute and throw this thing out there there's something wrong. and the problem with call me his both democrats and republicans thinking he is competent. there is a lot going on here. i like everything independently. and by the way i'm wearing leopard skin underwear. thank you very much. closing bell.
for 38 minutes away. is it love him or hate him. the president-elect lashes out at the union chief over carrier jobs. we will bring in indiana chamber of commerce to play referee. he is joining us in a foxbusiness exclusive. it's now the hottest holiday gift of the century. we will tell you what it is coming up but here is a hint. it involves ducks. can you guess? the countdown is coming right back.
breaking news. time, inc., is at a 52-week high. "wall street journal" is reporting that the media company hired morgan stanley and bank. america to field takeover offers. what makes this significant is that time, inc. just recently spun off from time warner. so you see time, inc., jumping 7 1/2%, spiking pretty dramatically here. we'll see if there are any bidders. breaking news as well. piece of sad news. john glenn, american hero and astronaut, just died. he was a state senator for the state of ohio. he served this country so well and so bravelily. he was 95 years old. he was hospitalized pretty recently. he is considered an authentic american hero. has done so well remarkably healthy past couple years but fallen ill relatively recently. he is survived by his beloved
wife of 73 years. he and neil armstrong. wilbur wright, greats mentioned together in first flights of all difficult kinds. john glenn was 95 years old. we are going to be right back. this is your daughter. and she just got this. ooh boy. but, you've got hum. so you can set this. and if she drives like this, you can tell her to drive more like this. because you'll get this. you can even set boundaries for so if she should be here, but instead goes here, here, or here. you'll know. so don't worry, mom. because you put this, in here. hum by verizon. the technology designed to make your car smarter, safer and more connected. put some smarts in your car.
>> i'm lori rothman on the floor of the new york stock exchange with fox business's tech minute. google showing the company growth ambitions for the self-driving car team. they hired execs and groups are looking to expand its work space by searching for a head of real estate. setback for elon musk. aerospace company setting back relaunch of falcon 9 rocket to early january. it was originally scheduled for november launch. the investigation of the
explosion has delayed the mission. gaming company is projecting growth company to be over0 million within the first month. super mario will be premium and has 20 million users ready to download it when it is released on december 16th. stick around. "countdown" continues. ♪ [vo] is it a force of nature? or a sales event? the season of audi sales event is here. audi will cover your first month's lease payment on select models during the season of audi sales event.
liz: let me give you more on what we just brought you. they don't make them likes this anymore. john glenn, aviation icon and original hero and rocketman, died at age of 95. before he was a astronaut he broke the transcontinental flight speed record as a marine. in 1962, he became the first american to orbit the earth, much later. this is stunning, 1998, remember that he was the oldest man in space. he became a senator.
so much, well he died this afternoon at ohio state university wechsler medical center surrounded by friends and family. so, so loved in the state of ohio. quite frankly all around the world. astronaut, former senator, all-around hero, john glenn at the age of 95. we do understand that the governor of ohio, john kasich, is now commenting and, do i have that? let me see. john kasich has just released this. john glenn is and always will be ohio's ultimate hometown hero. his passing today is occasion for all of us to grief. as we bow our heads anshare our grief with his wife annie, we look to the skies to share his remarkable journeys and his long service to our state and nation. though he soared into the space and capitol hill, his heart never strayed from his fed fast ohio roots.
godspeed, john again. that from ohio governor john kasich in just the last two minutes. i wonder what john glenn would have thought of this? congress which he served for many years has one thing left to do before it adjourns for the year. the house just passed it, the spending bill to fund the government through april 28th. now it is in the senate's hands which could prove problematic. democratic senators joe manchin and sherrod brown are protests bill specifically over health benefits for miners. they have until 11:59 tomorrow night, to do the the ts and cross the is. the date in march might be donald trump's first test as president. not the budget thing but involved the budget. joined by adam goodman, republican stratbit of along with richard goodstein a democratic strategist. gentlemen, thank you very much. forgive us if we have more breaking news. we have historic moments here with the markets and john glenn
the famed astronaut died at the age of the 5. meantime this budget battle, put that aside for a second. march, adam, what is donald trump going to do? does he have to the lift the debt ceiling? that is the next moment we see this? >> i think what we're seeing now, are two things. reflection of a congress, liz, has a real problem getting things done and election of a new president that will be more determined to reject the new president's priorities then protect president obama's legacy. i have no problem frankly with idea of an extension which passed through the house because i think we need to get there. it will reflect some new priorities, which you know, liz, dramatic investment in america's infrastructure, certainly funding to eliminate isis once and for all. so i don't see this as anything other than reflection of the here and now. may take a moment, if you don't mind to say also how much liz: oh, yes.
>> how sad it is for all of us. liz: really is, richard. again for those who are just joining us, john glenn at the age of 95. i call him the true rocketman. i covered him in the statehouse. he served in the national senate in the state of ohio. he for many years was that tried and true, flag-waving senator from ohio, but more importantly, that first man to have ever orbited the earth, richard. you saw that. >> and he was as nice in person as he was steadfast and heroic. i happened to work way back when for senator ribocoff who chaired a committee when john glenn was new to the senate. he was the most self-eface, john glenn, person he was, considering what he did and way he was treated nationally. it was really quite something. you would never believed he accomplished what he had accomplished. can i talk about this budget quote though for a second.
i don't mean to take away from john glenn. liz: of course. >> i hope your audience understands when adam says, well this congress can't get anything done, the republican majorities will shrink, in part thanks to hillary clinton getting 2 1/2 million more votes than donald trump. liz: okay. >> it will shrink, it will shrink in the next congress. two fewer senators. six fewer house members republicans have. notion it will get easier to do, you know all the things, granted there will be republican in the white house. liz: spin it forward to march. this is all just conversation for president-elect donald trump. we will bump up against that debt ceiling once again. for those who don't really understand the concept, it is the national debt credit card. do we expand the ability to borrow? right now it is at $20.1 trillion. adam, will he be in a tough position for republican, they don't like to do this, they
don't like to lift the ceiling and they had to and ronald reagan and bill clinton, every other president raised the debt ceiling. will donald trump have to do that too. >> liz, great question. here's my response. i think what is happening right now, and we've certainly seen this with the carrier announcement, the announcement overast 48 hours taiwan and elsewhere, words investing in america have taken on reyou nude urgency and popularity. instead of looking at the debt ceiling and what congress spends as spending, i think new president, the president-elect will talk about investing and investing in things that have return. not investing programs that seem to throw taxpayer money down a black hole to know where, but things that reap benefits short and long term. i think because of that this president-elect has an opportunity to sell an investment in america that would make temporarily raising the debt ceiling more palatable thing even for the republican congress. liz: okay.
>> if i can, liz, we will see, we will call the question about whether all this talk about deficits and debt is just utter partisanship, or whether anybody ever meant it. because donald trump in his stump speech, talked about we're 19, going to $20 trillion in our national debt. if he willingly looks the other way, because of all these spending programs and tax cuts, which will bring in less revenue, that will answer it. we will know once and for all, this is just so much talk and nobody has any principles who purports to. >> liz? liz: quickly. >> liz, one last thing. the only way we're going to get out of the hole is increasing gdp growth 4% or more. that -- liz: and cut spending, adam. and cut spending. >> i think we have to do both. we have to look at a way to grow the economy with sustainability. liz: end on something we all
agree on, john glenn, american rear row. he will be missed. >> yes we do. liz: adam goodman, richard goodstein. be sure to keep it here for special coverage of the president-elect's thank you tour in iowa. it is happening this evening. that is what we do, we cover the news, particularly as it pertains to your pocketbook and your money, lou dobbs is on it. he has you covered, two-hour broadcast tonight from 7:00 to 9:00 p.m. stick around for "kennedy," it is special time because of this 9:00 p.m. eastern immediately following lou. we will be back with dow up 75 points. the s&p is record. am i -- am i sounding like a broken record? i'm not. we're functioning just fine, not broken here on fox business. closing bell 18 minutes away.
♪ liz: so at this very moment there is apparently a hashtag taking over twitterverse. it is #i'm with chuck. it is trending more 7,000 tweets. this is heated feud between president-elect donald trump and union chchuck jones. talking about the manufacturing jobs really saved at manufacturing giant carrier in indiana. trump said it was more like a couple hundred versus 1100. chuck jones, president of united steelworkers 1999, has done a terrible job representing workers. no wonder companies flee the country. joining us for fox business exclusive, man at front and center of indiana economy, indiana chamber of commerce ceo
and president. you're on the ground. you crunched numbers. donald trump said 1100. chuck jones said this guy was lying. what is the real number as best you can figure out? >> there are a couple different numbers reported in the media here but 1100 is the most recent. the lowest number of have heard was 800 and the at beginning of this discussion, kind of centered around a round number of 1000. liz: let's make a couple things clear. donald trump said 1100. chuck jones was saying 350 engineering jobs trump was counting were never scheduled to leave. 550 still lose their jobs. but look, some were saved. however, the state of indiana, what we do know is that it will get 7 million in incentives over 10 years. let's just talk about this. the battle over twitterverse is not necessarily conducive to anything beyond helping us get a conversation about what is
really going on the ground in indiana. what is happening there with the businesses you deal with? >> well, you know it is interesting, social media makes for sometimes good coverage than the regular media but the fact of the matter a lost -- lot of hoosiers keep their jobs. that is very important. i'm fond of old saying don't look a gift horse in the mouth and a little bit of debbie downer back biting on this from the union and others i find curious and disappointing. that said, a president of the united states can not do economic development one company at a time and, we in the business community, certainly here in indiana, are excited about the possibility of stopping regulatory onslaught that has beseeched the business community throughout the country, and moving on to higher levels of economic growth and prosperity for all americans.
liz: well maybe that is the side window way to go? to lighten up the regulatory load, where appropriate, not in safety jobs because, that definitely can be a negative, if you release the hounds and suddenly workers are getting hurt. donald trump said he would probably keep in most of the safety regulations but, you know -- >> sure you have to go after the bad actors. liz: got to be careful here. so we're not here to beat up the unions in any way, shape or form, nor it appears is mike pence who just recently, as a couple of months ago, had sat with chuck jones and said very positive things about him. does it surprise you that there may be a little bit of a disconnect between the vice president-elect and president-elect, and what do you feel about the unions such is as chuck jones is in in the state of indiana? >> they're in a difficult situation, when companies become uncompetitive and have to look elsewhere, and you know, we need to recognize that part of this
is driven by the fact that you know, over the last eight or 10 years mexico has negotiated over 30 trade agreements with other countries to be able to ship their goods with no tariffs or low tariffs, and has gained an advantage on the united states in that regard as well as cheaper labor. so, unions are challenged when the companies have to be mindful of their shareholders and where they need to do business and be able to produce their products and compete in a global marketplace. liz: that goes back to what donald trump has put, for lack of a better word, a wall down. he doesn't want companies leaving the united states and maybe that's where they find less expensive labor. so what you do you tell your -- >> and no tariffs. liz: right. >> well the business members have to be responsible to their shareholders and their stakeholders in general but one
of the ways we compete better is to the phrase that's being used here in the midwest, is drain the swamp of the regulatory onslaught that has beseeched the businesses over the last many years. read recently there have been 600 new regulations proposed by the obama administration just this calendar year, and you would think that, we have enough regulation on business as it is. that's time an money spent not growing your business, not increasing your employment, not competing in global marketplace. liz: important to note though, as the obama administration pile it on in regulations, so did many state organizations. so at the state level, even in republican-run states such as your own, you had a lot of regulations put in. so it is not just the obama administration that's guilty. >> that has not been in the case in our state.
mitch daniels, when he became governor he turned the culture of the job of state government help businesses grow jobs, be successful. mike pence on his first day in office he issued an executive order freezing all proposed regulations. so the it has been a different approach that helped indiana grow and improve its business climate ranking from 28th, 12, 14 years ago, fifth best in the country and number one in the midwest. liz: indiana has big names like eli lilly and anthem. a lot of big companies. we're watching it. thank you, kevin. >> anytime. liz: the indiana chamber of commerce ceo and president. we're six 1/2 minutes away from the closing bell. you're seeing a lot of records on the screen one of them. dow is up 63 points. it cut in half the gains. we still stand at 19,610. less than four points away from dow 20,000.
liz: we told you that there was a hot, hot item on a lot of people's holiday wish-list. there is a wait list for it. here it is. the century-old llb bean company's duck boots. they can not seem to keep up for the consumer demand for the mascot item. the duck boot was manufactured first in 1911 for duck hunters to keep their feet dry way up in maine. projected this year, 600,000 a year. the company can not keep up with it. they hired 100 more workers since last year to meet the
demand. it is not enough. l.l. bean doing unbelievable business with those duck boots. they have been called ugly an ungamely but everybody loves them. what is old is new again. let me get with something that was really ugly yesterday, bitter pill for the pharma and biotech. edging slightly higher in trading right now, barely after donald trump took aim at high drug prices. my next guest helps oversee 10 billion in assets, says health care names are just what the doctor prescribed for your portfolio. we have bryn mawr chief investment officer. we're close to dow 20,000. when do you see that happening? right now we have 19,601? >> hi, liz. thank you. can't tell you what time or what day, but certainly well within reach as you point out. a few hundred points from here is small percentage move. certainly market is driven by
less regulation and pro-business policies. certainly very possible it will happen soon. liz: easterney, we have a lot of breaking news this hour. pick unless the health care world. people are waiting on them. >> that's good. thank you for your good news reporting on sad passing of john glenn. liz: yeah. >> first of all couple names, one of the areas we have liked, sector we like for quite a well is health care sector driven by demographics, going into the election we have a lot of focus on drug pricing which was negative for large pharmas and biotech companies and so we've focused on medical devices. so companies like stryker orthopedics, just this morning alone, they announced a quarterly increase in their dividend of 11.8%. this companying is growing dividend, annualized 17% a year last five years. it is hurt a little bit by foreign sourced companies. fischer therm --
thermoscientific. tmo. great aggregator. 15% of earnings foreign sourced. [closing bell rings] liz: okay. ernie, i know you hear it. there is the closing bell. ernie with bryn mawr investments. today another day of epic records. connell: it is indeed. melissa: look who is back. connell: we both have the same color. the market going exactly the opposite direction, thank goodness. dow, s&p 500, nasdaq, they're all ending brand new record highs. i'm david asman, good to be back melissa: i'm melissa francis. here is what we have for you at this hour. donald trump tapping a fast-food ceo for a key cabinet post. he is meeting with the former