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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  January 26, 2017 3:00pm-4:01pm EST

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he's not going to meet with the president of mexico, we'll see if pence says anything as well. liz has you from here. let's listen in. >> members of congress and your families, it is gooding to back. [applause] i just feel so at home. i know that the speaker told me back stage that six out of ten members of the house of representatives are new since about a year before i left the capitol building to be governor of indiana, but it doesn't feel that way. i feel very at home, and let me say how grateful i am. thank you for giving the 45th president of the united states of america such a wonderful, warm welcome by the people's representatives. [applause] i have to tell you, i'm grown accustomed to preceding the president at various events, oftentimes it's my duty to
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introduce him, and he's a hard man to precede, but he's a harder man to follow. [laughter] >> i have to tell you ladies and gentlemen, what you just saw today is what i see from him every day of the week, that energy, that enthusiasm, that optimism, that strength, that determination. it is my high honor and great privilege to serve as his vice president, and i know that president donald trump will make america great again. [applause] this is a historic moment for our country, make no mistake about it. by the confidence in the american people and the grace of god we have an opportunity to do tremendous good for our country in the next few years. i know that each one of you will rise to the challenge, and i know that the best is yet to come for the uted states of
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america with the gat republican leadership in the white house and in the people's house. [applause] it truly is humbling to be with all of you today. i see so many familiar faces in the room. back in indiana, we had a saying when you see a box turtle on a fence post, one thing you know for sure, he had help getting there. [laughter] there's too many people in this room who know that this box turtle got on this particular fence post with a lot of help from you. your support, prayers and friendship is a great source of encouragement for me on this very day and i want to thank you for the encouragement over the years. serving in congress on behalf of the good people of indiana 6th congressional district, and so i know the burden of public service in the congress. i know the long hours, the travel, the days and sometime weeks away from loved ones. on behalf of the president of
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the united states, and on behalf of the american people, we appreciate your commitment and your hard work and even more, even more, i know you won't mind me saying we appreciate the sacrifices that your families make every day to permit you to serve the american people of this country. [applause] you got many spouses this afternoon, from the bottom of my heart and on behalf of the president of the united states and the american people, thank you, thank you for loving your country, thank you for loving your loved one, thank you for your patriotism. would you members mind getting on your feet and thanking spouses and family members. [alause] before you get too comfortable, my wife, karen pence is with us today. [applause]
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and she has been traveling with me and working with me for the people of indiana now for the people of america. i'm so proud. you know for all the demands in public life, i know everyone in this room knows we don't have the hard jobs in public service. those come with uniforms, so would you join me, join me in thanking the men and women of our armed forces that may be looking on. all of our veterans and the many members of our law enforcement community who join us today. let's show them how much we appreciate the hard work we do for our country. [applause] you know the 12 years i spent in the house of representatives gave me a deep respect with all the legislators and as members
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of the article i branch. not an easy job. drafting america's laws requires first an understanding of america's principles as handed down in the declaration of independence and in the constitution. thankfully we're blessed to have leaders with a long history of doing just that. leader mcconnell, speaker ryan, senator warren, i'm humbled and blessed to have you as leadership and proud to call you my colleagues and friends at this house and this senate for all they do. [applause] the american people are fortunate to have leaders of your caliber and conviction, i know full well. having watched many of you over many years, i know your integrity and i know your commitment. under the constitution, i want to say it is my greatest privilege to serve as the past
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the senate. kind of new down there for me. [laughter] new territory. one of the perks is i have a fairly nice office off the senate floor. just in there the other day. but anyone who knows me well knows that i'll also always be a man of the house and i want to thank speaker ryan for giving me an office at that end of the building. [applause] and i know how difficult it is to organize the get-togethers. i want to thank our conference chair, cathy mcrodgers, let's hear it for them, this is outstanding. [applause] and john thune, senator john thune, conference chair. thank you as well as senator
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thune for doing a wonderful job as conference chair. couldn't have picked a better place or more important time in the life of the nation together in this bicameral retreat. pennsylvania played a pivotal role as you heard him say in sending donald trump and me to the white house and keeping a republican majority in the congress, and that's no small fete. been a decade since our party held both chambers of the congress and the white house, and before that it had been about 80 years since our party had the opportunity to lead the nation. so we pennsylvia a debt of gratitude and thanks. [applause] for their hospitality and support just a few short months ago but have to return the favor. we need to repay the hard-working people of pennsylvania and americans everywhere who yearn for better life and brighter future through our efforts. the people of this nation place their trust in us because we made them a promise.
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and make no mistake about it. this president and this congress are in the promise-keeping business. the american people can count on it. [applause] we're going to show the american people the republican party has the principles and the policies that will make america great again. we know from experience and from history that we have, we have the solutions to the country's problems, the answer has been the same in every era. power of the free marketplace, the arsenal democracy, limited in constitutional government, build on personal responsibility, and above all else a deep and abiding faith in the goodness of the american people. my friends, this is our moerment. and we got this far because president donald trump marshalled a movement unlike any movement in american history. [applause]
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i saw it. i saw it as i traveled around the country. i'd attend rallies where tense and thousands come out or speak at rallies of my own where literally hundreds of americans -- [laughter] would come out to hear me campaign on his behalf. [laughter] >> i want to tell you, they came out because president trump is the real thing. he's a doer, not a talker. although he talk pretty good. aughter] when this president talks he doesn't tiptoe around anything or anyone, speaks straight from his mind and heart. the american people hear him loud and clear. he's his own man, independent, strong, boundless energy and optimism. i'd like to say president donald trump is distinctly american. and he's already fighting every day to put our country and our people first. president trump has already
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charged head first into the fray. tomorrow actually mark the end of our first week in the white house. he's already signed historic executive orders on obamacare, on trade, the keystone and dakota pipelines, rolling back regulations, starting to build that border law, enforcing the laws of this country and the sanctity of life and more. just this week, this pro-life president reinstated the policy banning public funding of abortion in american foreign aid. [applause] and as another pro-life american, i couldn't be more proud to stand with him. if there's a problem the white house can fix, rest assured, president trump and i are going to roll our sleeves up and act swiftly to solve it. the american people expect
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nothing less. our challenges are large, they are urgent and we'll bring great urgency and executive action every chance we can to address them. what he won't do is follow the last administration and bypass the people's elected representatives. the president and i have profound respect for constitutional rolls so i can say unequivocally that president trump and i will forge a strong working relationship with the congress and with all of you to enact the laws that will serve the interest of the american people as contemplated by the constitution of the united states. [applause] we're all one party, all striving to achieve the same objective and together we can do great things for the american people. you already know president trump's agenda, you heard an awful lot about it today, but i'd like to briefly highlight a few of our key priorities. success of our policies depends
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first and foremost on the confirmation of this world class cabinet that the president has nominated. proud to say that even before he raised his right hand and took the oath of office. 21 of the 21 cabinet officials had been named. pleased a few have been confirmed by the senate, but we'd sure like to see the rest, in short order, sent to their duties so they can serve this president and the american people. [applause] we hope you'll move faster when the president announces our nominee for the supreme court of the united states. [applause] and i know -- you all know about the list? and president trump has been reviewing that list, and he's already indicated he'll be making a decision and making an announcement next week.
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i can already tip you off, president trump is going to keep his promise to the american people and he's going to nominate a strict constructionist to the supreme court in the tradition of the late and great justice antonin scalia. [applause] count on it. count on it. this person will possess a top-notch legal mind, unwavering commitment to the constitution. we need this person on the bench as soon as possible, given the vacancy that's existed on the court. as you heard the president say today this administration also will put the safety and security of the american people first and foremost. providing for the common defense is the first obligation of our national government, and working with all of you president trump and i are going to roll our steves up.
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we'll rebuild the military, restore democracy and give our soldiers, sailors, airmen, marine and coast guard the resources they need and the respect they deserve to accomplish their mission and protect this nation. [applause] our top legislative priorities begin with repealing and replacing obamacare. president trump has made it very clear that we need to end this law's burdens on hard working families and businesses and simultaneously replace it with a better plan based on free market principles and choice. our north star should always be lower cost, higher quality and better access to care for everyone without exception. economic growth is one of president trump's top priorities. i don't know if you all noticed
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the headlines today, but the dow went over 20,000 for the first time in the history. [applause] to unleash our nation's limitless potential we'll break down the countless barriers of the entrepreneurial spirit working with the congress, utilizing the congressional review act we will roll back the recent avalanche of regulation stifling american growth starting next week. [applause] also means passing real tax reform. slashes rates for individuals and businesses and working families. makes america the number one destination in the world for investment and innovation. it means passing regulatory reform beyond the immediate relief under the cra to prevent unelected bureaucrats from crushing the economy and the american people's dreams from the comfort of taxpayer-funded
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offices in washington, d.c., and it means dismantling dodd-frank financial laws, overbearing mandates so that well-capitalized, well-regulated banks can meet the needs of small business, which is the engine of american job creation and prosperity. you know, i was in a meeting just the other day. president trump was talking about a guy that owns a couple of pizza parlors in nevada and stopped the president on the campaign trail and was trying to get a loan to open a third one and largely because of the heavy mandates that followed dodd-frank, the local bank said we don't make loans like that anymore. we want to make it possible for resources available so small business can thrive in america once again. applause ] ouagenda means rebuilding america's infrastructure
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through better roads, sturdier bridges, newer airports and plenty of other investments in the future. if you haven't noticed yet, america elected a builder to be the 45th president of the united states, and we look forward to working with each one of you to find ways to meet the infrastructure needs and challenges of this still new century. i could keep going. the point is by sticks to the president's agenda we're going to kick the economy into overdrive, unleash prosperity, the likes of which this country hasn't seen in generations. on my first visit to capitol hill after the election, stay with respect to the members of the house and senate. buckle up. we're ready to go to work. [applause] but it's going to be in a partnership with you that will be the key to making it all happen. from my party as the leader of the speaker know and many of you heard, i intend to be on
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the hill frequently. my door is open to each and every one of you. president trump and i are committed to working with each and every one of you for the benefit of the american people. as he said today, this isn't about party, it isn't about particular ideology, it's about serving the american people with integrity and passing and enacting the laws that will improve their lives. our success depends on whether all of us put the good of the country, the people of this country who put their trust in us ahead of our own personal and political fortunes, and i know you will. we all work for the american people, not the other way around. america has demanded a government as good as our people once again, and our job from this day forward is to rise to the challenge and restore a government that is efficient, effective and above all else accountable to the hard-working men and women who have been too long forgotten in this country, and they will be forgotten no more with
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president donald trump in the white house. [applause] got a lot of work to do, there's no doubt about that. but i have faith we'll succeed, and to tell you people have stopped me and come up to me and said you've been awful busy but you don't look that tired, and i tell them, well, to be around president trump is to be around someone of boundless enthusiasm and energy, and it's contagious, you saw that today and can you get used to seeing that. and the truth is i'm very confident we'll succeed, i'm confident in the man the american people placed in the oval office as such a time as this, and i'm confident in all of you because i know you're going to be respond to your calling with integrity and determination and we'll make america great again. it's a historic moment in our country, historic for the republican party, for the american people and the great nation we're blessed to call home.
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if we hope to make the most of this moment, i think we would do well to do one other thing. prepare to roll our sleeves up and go to work it put the new president's agenda into effect improving the lives and enhancing the security and safety of our nation and prosperity of the american people for this generation and the next. one more thing that we might do, if you're inclined to do it. i have to tell you, it's a great privilege for me traise my right hand sroded by all of you on the platform now a week ago, incredibly humbling to be surrounded by my family. i only had two decisions to make and no speech. [laughter] that was who would swear me in, and on which bible would i take that oath? it was my great honor that justice clarence thomas in his 25th year on the supreme court
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of the united states served meet oath of office. one of the great honors of my life. [applause] when it came to the bible, i thought about it long and hard, and then we made a call out west to the reagan library, and i asked if i might have the honor to take the oath of office on the bible that our 40th president took his oath of office on. but what touched my heart was to find out the verse he took the oath on is one of my very favorites, one they often quoted on the campaign trail, and i leave it with you today as an admonition because now is the time for us to do our work it support this new president and the confidence the american people placed in him and in the agenda they've elected him to advance and elected all of you to advance, but you also think
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if you're inclined to bend the knee and bow the head, it's a good time to do that, too. that verse in president reagan's bible was ancient words i believe are still true today that if his people who are called by his name, will hum to themselves and pray, you'll hear from heaven and he'll heal this land. it's been true for millennia, i believe it's still true today. if we do all that can in the momentous days ahead to support the 45th president of the united states, i truly do believe with all of my heart we will make america great again and we will heal this land. so help us god. thank you very much. god bless. liz: very relaxed vice president mike pence greeting the gop crowd in philadelphia. pence served in congress himself seemed to dispel
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tensions lingering and buckled up during the presidential race between the gop leadership. pence saying they'll rebuild the military and regarding obamacare he said the president will end and replace it with a new plan based on free market principles and choice and real breaking news on, of course, dodd-frank saying we will dismantle thamp the real word regarding dodd-frank is the republicans are in essence pretty much saying they will put deregulation as a top priority for the financial world. we have been watching it closely, saying they could consider dodd-frank getting rid of some of it as early as late spring. that according to some sources but you just heard mike pence saying we wanted to get rid of dodd-frank or relieve some of the burdens. let me show you what's on the screen. breaking news, any minute from what could be an extraordinary speech, that may spark a new
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power alliance for the ages. uk prime minister theresa may now, quote, at the front of the queue, she'll be the first-ever foreign leader to address the republican party's retreat in philadelphia. what she must say to spark a trading bloc with the u.s.? while doing the delicate dance of making sure she doesn't alienate her own people. we're about to take her historic speech live in that building at the moment. we want to quickly check the markets. the day after dow 20,000, when of course, we started zipping through, we hit it right off the bat yesterday and making a final hour rally. off the highs of the session. the dow had been up 57, we're up 30 at the moment. i want you to look at intra-day of the s&p 500 which, folks, you want to talk about touch and go and indecisiveness, the s&p crossed the unchanged line more than 101 times.
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it is down two points right now. not looking too much into that because it's had two days of records yesterday and the day before but at the moment we don't appear to be having that right now. the nasdaq touch and go touching the unchanged line 47 times. as we wait for the extraordinary speech by teresa may. we bring in the former strategy guy for uk prime minister david cameron back in the day and fox news contributor steve hilton. steve, listen, it's a big day for the republicans, certainly, but perhaps bigger day for the uk. what is she going to and a how carefully must she say it? >> i think it is a big opportunity, and what's exciting about this britain and the u.s. and the world is that for many years, this phrase, the special relationship, has actually been somewhat devalued. british certainly would love there to be a special relationship with america, but
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they felt for many years not just obama but previous presidents, it's been undermind and the uk is seen as just another european country. noseems president trump doesn't think like that. the big thing that theresa may has to do is to show she is respectful of trump, she must avoid doing the things other european leaders like angela merkel have done and really try and really accept some of the charactertures of trump that the media have portrayed, talking disrespectfully of them. that's angela merkel. she's got to be respectful of his political achievements in becoming elected, and then focus on the practical things they can do together to fight terrorism, but above all to get the economy going because the number one priority for theresa may is to show that that historic vote to leave the european union, the brexit vote will end up being good for the
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british economy. quicker she can build that into a relationship and trade deal that works for the british economy, the better it is for her. liz: okay, what do you in the uk have what we need? if we're looking at things made in the united kingdom. you got fourth quarter gdp numbers, six tenth of a percent growth. you've got a lot of company here, we can put some of them up. these are the fords of the world that do huge amount of revenue with the united kingdom. the penske automotive world, xerox for example, genessee in wyoming, a bunch of them. please, if we could put them up. a lot of the viewers may own the stocks. largest percentage of profits from the uk. exxonmobil, a dow component aside from services, banking, tell me what we can get from
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the uk so it looks like a good deal for us? >> actually the tech sector in the uk is reallyaking off, and i think that when you look at what's going on for example around cambridge university with life sciences and the medical affect there. that's a huge opportunity for partnerships and collaboration, that's happening and the economic base of the uk is incredibly strong. two of the top five universities are in the uk. so i think bringing that together with america's entrepreneurial dynamism which we hope to be unleashed with president trump, that could lead to good results, too.
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that is the fuel for the rally, will con to be. liz: breaking news headlines. we put some of them up. mike pence said they will relief the burden of dodd-frank. you at allianz, being at your financial operations dealt with some say onerous rules of dodd-frank that are big regulations. what does that mean somebody to you and financial world which by the way has led the rally since election day for the banks? >> the news will be welcome especially by big banks.
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they will see this yet another enabler for them. comes after two earth enablers. we are seeing possibility of deregulation but we're seeing interest rates going back up. that's good for banks and we're also seeing the economy growth perspective going back up. this is just going to reinforce the sense that financials are in a much better place than they have been for quite a long time. liz: it matters to me you're here especially on a day like this. in october we spoke, you were going more to cash. i believe you had 30% in cash which seemed a little high for a guy like you who likes to put your money to work. one month later after the election we see this incredible rally. we can show what the major indices are have done since then. my question, what are you in now and what are you telling clients? please share it with our viewers. >> going into the election there was a lot of uncertainty not just here and also globally.
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the idea was to build optionality. have more cash on one hand and less exposures on other end so you don't miss rally. it was about lagging sectors, technology in particular. now if this continues there are two areas that should be of interest. one is consumer-related names and the other one, emerging markets. i think that is how this rally broads provided the trump administration delivers on its pro-growth policy announcements. liz: are you worried at all about anything that donald trump has proposed, said or done? >> what i worry about most right now for markets is that the rest of the world is so behind the u.s. so the u.s. alone can take the market up to a certain level but you also need the rest of the world to participate in this new policy period. otherwise the rest of the world is going to be constrained how well the u.s. markets can do. liz: that brings me to the uk
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and the rest of the world, and as we wait on theresa may, again the uk prime minister about to give a speech. we actually had mohamed, a little clarity what she will talk about. almost like the superhero relationship, captain america, donald trump, i'm not genuflecting here, i'm simply saying that if donald trump and theresa may getting together, like wonder woman, captain america, can they save the world? can they? you have a tentative economy certainly in the uk. the united states is getting better and better. since the past year we have 75 weeks of job creation, you know, look, we call it like we see it. president obama did hand donald trump a stable or at least a more stable economy but what does she have to say to make this a stronger bond? >> so they need to help each other and help each other in the area of trade. with "brexit" the uk is going
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through a fundamental redefinition of its trading relations. the u.s. is looking to renegotiate some of its long-standing bilateral and multilateral arrangements. that awningment should have a help on the both sides. that they come together and anchor each other's new trading relations there. are other things on the security front that are critical but on the economic front it is about trade. liz: trade, trade, trade. one last word certainly about dow 20,000. "wall street journal" saying it is a knack -- a knack crow necessaritic, it is just a number. we're through it and -- >> the one thing that worries me if other countries do not join the u.s., the dollar will appreciate too much why? because this economy will be stronger attracting more influence and the fed will deliver at least three hikes this year.
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so the concern is that the dollar appreciates too much. keep an eye on the dollar, that will have a big influence on what other markets do. liz: the u.s. dollar slightly weaker today, and that is driving oil up. oil is denominated in dollars. mohammed, you remain optimistic? >> yes i do. liz: great to have you. mohammed el-erian of allianz. i want to direct your attention to what is on the screen. this is philadelphia, we're awaiting theresa may, uk prime minister speech. it is expected to be heavy on quote, special relationship she is going to derscore. there is a little bit of whistling past the graveyard. she needs thunit states right now if she is forging ahead, we know she is, with "brexit," with the exit of the united kingdom from the european union. peter barnes in washington, d.c., as we watch together -- i'm sorry philadelphia. as we watch this and wait what do you think the crowd really
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wants to hear from theresa may? it will be a friendly crowd i would imagine? reporter: yes, it will be friendly crowd, liz, no question about. trade is big item on agenda for theresa may and president trump. wanting to get a bilateral deal. we want headlines from president trump's flight back from philadelphia after his remarks here and on the question how he wants to may, will propose to pay for the wall, for this, the wall on the mexican border, and his spokesman, sean spicer, press secretary, just told reporters on air force one in the last few minutes that the president trump plans to propose a 20% tax, 20% tax on all imports on products from mexico. we import $300 billion a year from mexico. a lot of it energy-related, oil, so that would bring in. neil: in theory about $60 billion a year. the cost of building the wall
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is, i think, you know, highest esti but then you have operations and all that, all that as well. but, that, if that is the news we're getting off of air force one, just as president trump gets back to the white house. liz? liz: maybe we put that up as a banner, that donald trump is expecting to institute a 20% tax on all incoming products from mexico. let just be very clear. that makes products that americans like to buy cheaply more expensive. for every action, there may be opposite and equal reaction. we're hearing preamble in advance of theresa may and her speech, quickly before then, let me bring in john stossel. so glad you're here. you as libertarian you had written an op-ed. donald trump made a lot of promises. i do hope he doesn't keep some of them. john, he is keeping a lot of campaign promises. >> unfortunately like that one.
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20% isn't as bad as 35% he talked about but it is awful. not just that it's 20% tax on american consumers. it's a 20% tax on businesses that make things using imported products which is just about every business. so much of what donald trump is doing is great. wilbur ross is crony capitalist and admirers five-year plans but tariffs are awful. liz: what about making things expensive for the united states consumers? listen the other day he brought up the pipelines, he said i'm going to require, he reiterated in philadelphia, i will require using u.s.
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as they introduce theresa may, give eyour thoughts. >> it is terrible idea. for everyone it helps it hurts five. yes, some workers are helped. their jobs are protected. more jobs will be lost. liz: prime minister theresa may let's listen in as she addresses the gop and this three-day get together. [applause] >> well, thank you very much for that fantastic welcome. and can i say majority leader mcconnell, mr. speaker, distinguished members of the senate and to representatives of the house, i would like to thank congress and the congressional institute for the invitation to be here today. the opportunity to visit the united states is always special. and to be invited to be the first serving head of government
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to address this important conference is an honor indeed. i defy any person to travel to this great country at anytime and not to be inspired by its promise and its example. for more than 20 centuries the very idea -- two centuries, the very idea of america drawn from history and given rich in form in a small hall not far from here has lit up the world. that idea that all are created equal and that all are born free has never been surpassed in the long history of political thought. [applause] and it is here on the streets and in t halls of this great
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city of philadelphia that the founding fathers first set it down. that the textbook of freedom was written, and that this great nation that grew from sea to shining sea was born. since that day it has been america's destiny to bear the leadership of the free world and to carry that heavy responsibility on its shoulders but my country, the united kingdom of great britain and northern ireland has been proud to share that burden and to walk alongside you at every stage. [applause] [cheers and applause]
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for the past century britain and america the unique and special relationship that exists between us have taken the idea conceived by those 56 rank-and-file ordinary citizens as president reagan called them, forward. and because we have done so, time and again it is the relationship between us that has defined the modern world. 100 years ago this april, it was your intervention in the first world war that helped britain,. melissa, our friends in the commonwealth and other allies to maintain freedom in europe. [applause] a little more than 75 years ago you responded to the japanese attack on pearl harbor by joining britain in the second world war and and defeating
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facism not just in the pacific but in europe and africa too. [applause] and later in the aftermath of these wars, our two countries led the west through the cold war, confronting communism and ultimately defeating it, not just through military might but by winning the war of ideas, and by proving that open, liberal democratic societies will always defeat those that are closed, coercive and cruel. [applause] but the leadership provided by our two countries through the special relationship has done more than win wars and overcome adversity. it made the modern world. the institutions upon which that world relies were so often
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conceived or inspired by our two nations working together. the united nations, in need of reform but vital still, has its foundations in the special relationship. from the original declaration of st. jameses palace to the declaration of united nations signed in washington and drafted themselves by winston churchill and president franklin d. roosevelt. the world bank and international monetary fund, born in the post-world war world of bretton woods were conceived by our two nations meeting together. nato, the corner stone after the west's defense were established on the bonds of trust and mutual interest that exist between us. some of these organizations are in need of reform and renewal to make them relevant to our needs today buwe should be proud of the role our two nations working
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in partnership played in bringing them into being and bringing peace and prosperity to billions of people as a result. [applause] because it is through our actions over many years, working together to defeat evil or to epup the world that we have been able to fulfill the promise of those who first spoke of the special nature of the relationship between us. the promise of freedom, liberty, and the rights of man. we must never cease, churchhill said, to proclaim in fearless tones the great principles of freedom and to the rights of man which are the joint inheritance of the english-speaking world, and which through magna carta, the bill of rights, the habeas corpus, trial by jury and the english common law finds their most famous expression in
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the american declaration of independence. [applause] so it is my honor and privilege to stand before you today in this great city of philadelphia, to proclaim them again, to join hands as we pick up that mantle of leadership once more, to renew our special relationship and to recommit ourselves to the responsibility of leadership in the modern world. and it is my honor and privilege to do so at this time as dawn breaks on a new era of american renewal. for i speak to you not just as prime minister of the united kingdom, buts a fellow conservative, who believes in the same principles that underpin the agenda of your party. the value of liberty, the dignity of work, the principles
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of nationhood, family, economic prudence, patriotism, and putting power in the hands of the people. principles instilled in me from a young age. principles my parent taught me in the viicorage in southern england i was raised. these principles i know you put in the heart of your plan for government and your victory in these elections gives you the opportunity to put them at the heart of this new era of american renewal too. president trump's victory, achieved in defiance of you will the pundits and the polls and root not in the corridors of washington, but in the hopes and aspirations of working men and women across this land. your party's victory in both the congress and the senate where you swept all before you, secured with great effort, and achieved with an important
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message of national renewal. and because of this, because of what you have done together, because of that great victory you have won, america can be stronger, greater, and more confident in the years ahead. [applause] and a newly emboldened confident america is good for the world. an america that is strong and prosperous at home, is a nation that can lead abroad. but you can not and should not do so alone. you have said that it is te for others to step up and i agree. sovereign countries can not outsource their security and prosperity to america and they should not undermine the alliances that keep us strong by failing to step up and play their part. this is something -- [applause]
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this is something britain has always understood. it's why britain is the only country in the g20 other than yours to meet its commitment to spend 2% of gdp on defense and invest 20% of that in up grading quilt -- equipment. it is why -- [applause] it is why britain is the only country in the g20 to spent .7% of national growth. to insure the renewal of britain's independent nuclear deterrent and it is why the government i lead will increase spending on defense in every year of this parliament. it is why -- [applause] it is why britain is a leading member alongside of the united states of the coalition of working successfully to deceit
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daesh. why we have agreed to send 800 troops to estonia and poland as part of nato's forward presence in eastern europe. while we are increasing our troupe contribution to nato's resolute support mission defends the afghan government from terrorism. why we are reinforcing our commitment to peacekeeping operations in kosovo, south sudan and somalia. it is why britain is leading the way in pioneering international efforts to crack down on modern slavery, one of the great scourges of our world wherever it is found. and i hope you will -- [applause] i hope you will join us in that cause. i commend senator corker in particular for his work in this field and it's good to have met him here today. as americans know, the united kingdom is by instinct and
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history a great global nation that recognizes its responsibilities to the world. and as we end our membership of the european union, as a british people voted with determination and quiet resolve to do last year, we have the opportunity to reassert our belief in a confident, sovereign and global britain, ready to build relationships with old friends and new allies alike. we will build a new partnership with our friends in europe. we're not turning our back on them, or on the interests and the values that we share. it remains overwhelmingly in our interests an in those of the wider world that the eu should succeed. and for as long as we remain members we will continue to play our full part just as we will continue to cooperate on security, foreign policy and trade once we have left. but we have chosen a different
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future for our country. a future that sees us restore our parliamentary sovereignty and national self-determination. and to become even more global. [applause] and to become even more global and internationalist in action and -- liz: with apologies to "hamilton,we have come a long way torom king george to remindhe american colonists between the -- this is love-fest between the britain prime minister and theresa may. john stossel she said trump's election was distinct one driven by the voice of the people. she called a great victory. >> i'm excited. i'm certainly happen not to be somotherred in hillary bureaucrats for the next four years. some good things are happening. some good appointments. liz: she talked about being newly emboldened and in
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confident america is a good thing but the comment about nato, where she said sovereign nations shouldn't outsource their defense to america, almost dovetailed with donald trump what he has said where why are we spending outsized portion of money to float nato but then his own secretary of defense says we need nato? >> well, maybe we need nato but this is the case where i hope trump does what he says because why do we have 50,000 soldiers in japan, korea, germany? she says we're going to spend 2% of the gdp on defense. well we're spending more than twice that. we are carying the burden for the whole world and she is affluent countries should spend to defend themselves. liz: she said by the way, she would continue every year that she is in charge of spending more on defense for the united kingdom. again, john and i were talking about this earlier, because peter barnes brought us the news breaking tt donald trump in the wake of the mexican president nieto saying he is not
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coming, he was supposed to be coming, he is not going to come after donald trump said that mexico has to pay for the wall, donald trump is saying he will slap a 20% tariff right now. i don't know, what kind of process you can do that almost immediately. i don't think so. incoming goods. >> by executive order, a president can do. i could be wrong but i believe that is one of the things he can do. and theresa may said, let's open up the world. this is closing the world. liz: he is also announcing that he is going to institute extreme vetting. is this today, brad? right now he is signing as tresemme speaks, new order -- theresa may speaks, new order extreme vetting of all visas for refugees, from syrian or middle eastern nations. >> don't they do extreme vetting now?
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that is beyond my expertise so i won't comment? liz: that was what was discussed. president obama was confident about the extreme vetting procedure in there. as we're watching the news, dow jones industrials, still folks, not only above 20,000, lori, on the floor of the new york stock exchange, we've added another 30 point, not at the highs of the session but this market does not seem to be retrendping. go ahead. >> hi, sorry about that i was watching the dow come down a couple points this is really interesting. tied into theresa may, the fact that the market come so far so fast? do you look at fact we're awaiting very high-profile earnings of alphabet, parent company of google reports after the close. we'll hear from intel which we know is struggling with sales in the recent quarters as the whole technology industry shifts. for a long time from pcs, cloud industry. we'll hear from starbucks which also has been struggling because of weakness in broader retail. there is the whole dust-up today with trump and president of mexico over the wall.
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we see the peso coming down. so many moving parts. so many things to consider. i'm trying to keep my finger on the pulse of all of it for you here, liz. liz: do me a favor and say there. as we're looking microsoft at record highs. ebay is jumping because of great holiday revenues. verizon though down, at least it had been earlier on news which it has apparently dispelled through sources that it was interested in charter communications. it's falling about 1%. awfully interesting at the moment to see so many manueverrerrings here. charter still up 7 1/3%. we've had a lot of stock news, folks. not to mention new home sales for december which came down 10.4%. we're looking at earnings as lori mentioned. as, lori, are you still with me? >> i am, yes. liz: we have this mexico rift. we do have the january 31st meeting canceled between the mexican president and donald trump.
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i'm sure it is he said, he said, who canceled it first. looks like it was the mexican president who pulled out. saying he is absolutely not going to do this if donald trump is going to insist his country pays for the wall. >> all done over twitter. liz: right. this is a big stock story too. we have huge numbers about companies that move goods all across these borders. >> right, if you combine that with liz, as you know following the dollar, it has come in a little bit. strong dollar, yes is important for the strength of our country but it also gives domestic companies that do business overseas the so-called multinationals a clear disadvantage in their trade. mentioned the dust-up with mexico, to repeat it, the peso has been such a barometer of our relationship with mexico. it is down over 1% today versus the green back.
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liz: gold at lowest level in two weeks. lori, thank you very much. john. we have michael muccio. what are you doing on a day like where we've seen, we have a record for the dow, a second ago senates -- the nasdaq was at an all-time record. we saw it turn negative a moment ago. there is indecisiveness in this market. what are you thinking? >> clearly the market is factoring pro-growth policies. arguing those policies being enacted rather quickly. we're in washington, d.c., things don't typically move too quickly around here, liz but we're focused on telling our client to spread their bets around, invest in individual companies see growth in near term, longer term, regardless of what may transpire or tax cut or repatriation.
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things of that nature. if things are true, that's great. liz: are you avoiding companies that do a lot of international trade? >> yeah, we haven't been, i would say we're a little bit more domestically-focused for sure. our portfolios favored u.s. companies for the last five or six years over international companies. that doesn't mean we're not looking for plays where there are opportunity to sell specifically in marriage marriages, where growth might be a little stronger than it is here in the next phase of the cycle. liz: you've got to tell me what stocks you're buying for your clients at moment? viewers are saying what is he buying? what fits into your parameters? >> we're looking at companies with some kind of catalyst for change over the next phase of the cycle so one of those companies would be dupont. dupont is on the heels or midway through a merger with dow chemical. the two companies are merging into one large company and then on the other side you will have three companies, each servicing a different part of their
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current markets, and through that merger and then the subsequent spin-offs, likely to be some shareholder value unlocked. so we like dupont. another company that's in the middle of a early innings of a long-term growth plan is c.r. bard which is a medical device company. they are kind of on the forefront of innovating new products in medical devices which is a little bit more insulated from price pressures than pharma companies are. liz: one minute remaining before this market closes and i have to tell our viewers, the s&p 500, what is it 101? 101 times it crossed unchanged line. that is unusual for the s&p. does that worry you any inhe decisiveness going forward the next couple months? >> no. anytime we hit one of these new highs, it will take time for the market to settle out and investors to figure things, get coortae with things and where it's heading from here. near term we think higher is the answer. melissa: higher is the answer
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today, certainly for the dow jones industrials. michael, thank you. we have the confetti once again. >> thank you. liz: dow 20,100, up 31 points. that's a record. not so for the s&p. nasdaq too close to call. hand it over to david and melissa. david: we'll take one record, dow headed above the historic 20,000 mark second day in a road, making a new record close. hi, everybody, i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have you covered on all the big market movers but here is what else we have for you coming up this hour. a live look at the white house. sources just telling fox news that one much president trump's more controversial executive orders is being moved up to this afternoon. the president and his advisors are hammering out the final details in the oval office. plus uk prime minister theresa may currently speaking to republican lawmakers.

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