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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  May 30, 2017 3:00pm-4:01pm EDT

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trish: reach out on twitter, facebook. you can follow me on twitter at trish regan, and we'll go from there. i always love hearing the feedback. tell me what you thought of today's show and what you think of all of these links. liz claman, over to you. liz: we have some breaking news on uber. we do get that for you in a second. it's just hitting the tape. in the meantime, a shakeup at the white house as two new candidates for fbi director emerge. these after effects from the president's first trip abroad are lingering. press secretary sean spicer just wrapped up that daily briefing moments ago. the markets are off the lows. he didn't say anything that frightened, but heid address the white house communications director as well as the two men meeting at the white house for the fbi role this afternoon, including former tsa director john pistol. spicer also addressing reports that donald trump's son-in-law and senior adviser jared
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kushner attempted to develop a back channel of communication with the russians saying kushner has agreed to cooperate fully in any investigation. all of this as the president lights up twitter with an attack on germany saying our trade deficits and the nations nato spending are quote very bad for the u.s. plus, tiger woods memorial day dui putting millions of dollars in endorsement deals in jeopardy as the superstar takes yet another hit to his once sterling image. countdown has all the angles covered. we're talking to the american hedge fund manager with billions under management who stared down vladimir putin after the murder of his russian business partner. bill joins us exclusively on trump's alleged. reacts exclusively to the brewing trade war between the u.s. and the euro zone biggest
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member. should web holding them closer to us? and former pro golfer and one time teammate of tiger woods here with us exclusively. he's got the goods on tiger's future and the latest breaking news. joins us in just a moment. look at wall street here. yes, you're seeing red, but it's well off the floor. the first day back from the long holiday weekend. why is the vix freaking out? well, we do get you that answer. we're less than an hour to the closing bell. let's start the countdown. ♪ ♪ liz: breaking news. we have oil prices tumbling while stocks think can't seem to find enough fuel to really rally for the start week. why are we starting with oil? well, it's down a third of a percent and investors clearly threat that production cuts extended by opec won't be enough, anywhere enough to drain the oil glut. stocks, meanwhile, are also looking at losses here but,
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again, as i mentioned, the dow jones industrials down, nasdaq is down three, that's the one index that was down today. let me look at goldman sachs for a minute. it's the worst performers on the dow jones right now. did down 1.8%. the firm under fire for buying close to $3 billion in venezuelan bonds. the deal critics are describing as a financial lifeline for nicholas. he's a dictator. people do not like helping dictators or investing in companies at certain points that help dictators. as you see, citizens have been clashing in the streets, demanding a change in the socialist regime. they are protesting the dire economic conditions after years of financial mismanagement. goldman says for their part that they bought the assets from a broker and did not enter directly with the venezuelan govnment.
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deal dsn't make people happy. down 3%. let me get to amazon and google, both posting gains at this hour, amazon got there early. it did cross that earlier in trading. alphabet, meanwhile, is up 2 .38. amazon not there yet. we have this breaking news on uber. uber has fired its driverless car engineer anthony at the center. he's the man at the center of a trade theft lawsuit with alphabet. these trade secrets. alphabet, google, is accusing him and uber of stealing these trade secrets. uber says they fired him because he's has complied with court orders in the case and of course he was at the center of the case itself. so to the white house, if we can get anything more from
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uber, we'll get it to you. we are learning from the white house there are two new candidates, former tsa member john and former assistant attorney general in charge of the u.s. department criminal justice criminal division chris ray are the candidates. press secretary sean spicer confirming the details to our own blake burman at the white house daily press briefing, which just wrapped up about 19 minutes ago. it was the first one since president trump has returned from his trip abroad. blake, rushing to the cameras. i don't know if he's there yet from the briefing. are you there, blake? >> we're here. liz: the youre. i see you. let's get to that and how it weeds into the markets. >> well, liz, whenever the president's schedule is wide open, it's always a question what is he doing? and now we know because the press secretary sean spicer telling me moments ago that there are two interviews on going here at the white house this afternoon as it relates to the fbi director.
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we had to scour google. the first one being john pistol, former head of the transportation security administration, was there about four years during the obama administration. he was also a deputy top official at the fbi under both president obama and george w. bush. he is meeting with the president, along with a man by the name of chris ray. an attorney here in town. you went through some of his credentials. basically, he worked for a couple of years as a litigator. back in 2003, '04, and '05 at the department of justice. they are interviewing with the president, the white house press secretary sean spicer would not nail down when i asked him when the president might make his mind up. . >> when the president feels he has met with the right candidate, he will let us know. but he will meet with candidates today and continue to do so until he finds the right leader. >> are they the two finalists at this point? >> huh? >> are they the two finalists or. >> the president is the ultimate decision-maker. when he makes the decision as to who believes is best to
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lead the fbi, he will let us know. >> so, liz, you heard there from sean spicer could come really at any point if these are the two or just two of several others. dominating the press briefing at least part of it, of course the latest with russia, the white house multitudof stories surrounding jared kushner just to say, though, that other top officials within the white house said that it is normal they contend to conduct back channels with other countries. liz: the question is it normal to do with the russians who have been proven, at least by our intelligence. so at one point, my next guest had the best performing hedge fund in the world. but this just wasn't any fund. it was the largest foreign investment fund in russian companies. that is until theft and murder changed everything. bill founded capital. he began investing in russia in 1996 after the fall of the soviet union.
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he saw a ton of opportunity. he started with 25 million in seed money, began buying up stakes and privatized russian companies. but in 2005, he was arrested, blacklisted by the russian government as a so-called threat to national security, and then expelled forever from the country. but his russian tax lawyer and partner remained in russia after the putin government rated the funds offices, again, digging and discovered the theft of $230 million from that fund. after challenging the government, he was arrested, tortured, and killed in prison in 2009. he was just 37 years old. fights to this day, counted the entire heroing saga in his book. he joins us now in a fox business exclusive. good to see you. our government has confirmed that russia medalled in our election. who do you believe ordered that and carried it out from
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the russian side? >> well, it's pretty clear that vladimir putin ordered it. this is what he does. we shouldn't feel too special. he does it to everybody. he did it to france, to the netherlands, to germany, even the little country of malta is being messed around with russian electoral medaling is being done by the secret police, the military intelligence when they operate outside of russia. and this is standard operating procedure. this is what the russians do. liz: your experience is quite stunning. you built up to about $4 billion in assets by investing just as russia was sort of inching toward capitalism. but it was still looking more like a cli. why did you suddenly become a threat to russia? >> so i went there in the
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early days before there was any architecture in the market, and my idea was that if russia goes from horrible to bad, you make a lot of money, and then you make even more money when it goes from bad to good. and so as i was there, i discovered huge, massive stealing in the companies i was investing in. the big gas companies and oil companies. and so i decided that i was going to try to research how they did the stealing and then expose it through the international media. and for a while, this was an extremely profitable investment strategy. but as you can imagine, the guys doing the stealing weren't so happy about me exposing their ge. so eventually this ended up going right up to the top to vladimir putin and as you mentioned in the introduction, i was expelled from russia in 2005 and declared a threat to national security and, unfortunately, really even more terrible things happened after that with the murder of my lawyer sergey.
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liz: which is just devastating. but, bill, when you hear that president trump argued that it would actually be a good move to partner with russia in areas where we have common interest such as fighting isis, what goes through your mind. do you see any value in that? >> well, what i understand about russia is that russia is not our friend. they are our enemy. they wish us much -- they wish us and have the capacity to do much, much more harm to us than isis could ever do. isis is a bunch of ragtag terrorists, whereas russia is a clip to being see, a mafia state with nuclear weapons. they could annihilate the united states of america, and they very well may if we play our cards badly with these people. so we've been dealing with these people for many, many decades to somehow turn it around and think they're our allies, it's wrong. >> your dear friend was tortured and killed in prison
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in 2009. he died in february. he said, president, you know, putin's a killer, and the president said, well, we kill a lot of people too. what do you make of that? >> well, what i know is that vladimir putin and his regime tortured and murdered my lawyer foriscovering $230 million that was stolen. it wasn't stolen from me, it wa stolen -- these were taxes that we paid that were stolen from the russian government. he exposed it, and then he was tortured for 358 days and killed. now, in america, if somebody discovers the theft of $230 million of tax money from it from the government, they would never torture and kill. >> at what point when you look financially at this company, do you say that the russians have an economy the size of italy, they're tiny.
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they have a real problem with money right now. how are they paying for all of this hacking and how are they even running the country and why haven't people risen up? >> the way they're paying for it is not paying for social services, not paying for hospitals, not paying for teachers, and they're also stealing a lot of money for themselves. so the answer is that people have every interest in rising up because nobody knows what's going on because it's one big white wash on the television. you can't find out what's going on in russia because it's just one big white wash. eventually people can't tolerate that forever. liz: i want to tell you a couple of weeks ago at warren buffett's shareholder meeting, four unrelated people told me to buy and read your book. what's the book you're reading right now, and they said red notice. thank you so very much. >> thank you. liz: and he of course is the ceo of. well, we are waiting
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on rease of police dash cam video of tiger woods. stay right here. the second we get it, we will get it to you. the dow down 35, tiger was once golf poster boy for his historic success both on and off the courts. but when you got a mug shot or two to your name, it's never a good thing. yes, over the memorial day weekend, he was arrested former pro golfer and fox sports analyst brad has the inside scoop on tiger's future and the millions of dollars in endorsement deals that now may be in jeopardy. and it's a short week on wall street. the floor show is next on countdown. don't go away
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tomorrow we've got pending home sales and the book, which of course is a regional indicator by the federal reserve of how different regions are doing in the u.s. thursday we get the eia patrolium report on inventories for oil. it often moves the market and then we get the adp employment numbers, which is the precursor to friday's big market. but with major economic data, why is the vix all over the place? earlier it spiked more than 8% and now up 4%. it dropped down. we have to get to the floor show. john, why the nervousness and yet the market doesn't seem to be moving that much? >> right. so it seems like we picked up today where we left off on friday. friday was the second slowest day of the year. low volume today. not a lot of activity. i think the fear that's in our market right now was just additional headlines coming out of washington.
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there's so much there, both headlines, domestic headlines and international headlines. investors really do have a fear of what is this next headline going to be, how is it going to move the markets? liz: well, if this is fear, i don't think it looks that bad. and i only say that, todd because you may as well call this flat all right? the trump rally and the trump trade is still on. we are near or at record highs. i think the nasdaq 100 hit a record high. so john's right. people are waiting for a shoe to drop, but they have nowhere else to put their money if they want real yields because the ten-year yield is at 2.22% and why not get a stock that has an opportunity to move higher and yet also as a dividend? >> well, i agree with that. but if you look at every time we make all-timeighs in the stock market, it's another day closer to see some corrective move. we've seen a very long sustained period where even though we're sitting, you know, like you said a ticker or two lower today, we're real close.
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and if you're buying any kind of demand here for protection on portfolios, it's going to be higher the longer we stay up here. i think it's just straight out demand for insurance. as for ten-year yields, i think you're right now seeing yields decline. there's a lot of uncertainty. look at that two ten-year spread lower since the election. and the china yield isn't going away. it's still in the rearview mirror and there's a lot of concern over global growth moving forward and with a federal reserve that's going to raise rates next month, regardless of what happens today or in the next three weeks has to ask the question what happens in the second half of this year if things don't really pick up? and i think that's why you're seeing quality trade across the board. liz: we're not seeing pick up in gasoline, natural gas. of course opec last week met in vienna and extended their cuts but didn't expand their cuts. so what do we look toward next? do we look at inventory
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numbers for the next driver? >> . >> we look at that inventory number every week, and it gives us some picture of the same thing every week. i would say that you had your opec meeting, anthey immediately tank the marke 2.5 bucks. so i think that you rt of really got your information. crude is not a buy here; right? i mean, unless they come out and lie and say they're going to extend the cuts, like, and make them bigger or whatever. but it just isn't happening. and even if they do make bigger cuts, they'll more than make up for that. i still see crude as a big sale, and i still, you know, i always tell you, i'm not a stock guy. i understand trading, but i do not trade that dow. but i can tell you that these stock guys on 18.5 months on end waiting for the election. even people thought the market would tank if it.
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there's no reason to sell it. liz: although, maybe, john, with the fed fund futures pricing in something like 89% chance that we will see a rate hike in june, what happens then? because everybody will spin it forward to whenever we see the next one in september or not at all if we're about to hit the debt ceiling. >> right. what have you done for me lately? and that's the exact mentality we will see. we are expecting the rate hike. we do get it. and then like you said, everyone's going to look forward to september. i don't think the market's going to react -- have a lot of volatility because of that. just because we're expecting this so much and pricing it in. >> yeah. and steven, the treasury secretary approve the ceiling before they go on vacation. great to see all of you. >> thank you, liz. liz: closing bell 37 minutes away. we have verizon leading the dow 30 after nathan raised its generating from a sell a
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neral. so it's sortf this is awful. actually, verizon is looking really good up 88 points at $46.20. and how do you say "house of cards" in hebrew? netflix announcing a deal with partner communications to bring its service to israel. the deal driving the streaming video stock to a new all-time high. just as the fifth season of the very popular political drama. netflix up half a percent to $163.27. and the tail of the tiger turns ugly again. tiger woods once dominated the sport of golf like no one else. but an injury and another arrest puts this up for discussion and question. brad played with tiger on the 1996 team. he's here to say how the
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arrest could turn endorsements that were gold and silver and now what is it going to look like? countdown coming right back look closely. hidden in every swing, every chip, and every putt, is data that can make the
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liz: breaking news. we are hearing the release of the new dashboard camera video from the police car that was shot during the dui arrest of pro golfer tiger woods is about to be released imminent. we've been hearing that for a while. however sources are saying it's coming. new details emerge surrounding the arrest of golf's biggest star. 14-time major champion winner, reportedly found asleep at the wheel at a stoplight, saying quote, prescription medication not alcohol. e atete'medication is due to the ongoing back problems sidelined much of his career lately for the last three years has been a problem. what does it mean for tiger's future, multimillion-dollar endorsements and networks he
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made so popular? our next guest was a former too many mate of tiger during the 2007 rider cup. what are you hearing, brad? have you got anything new for us? >> down here this palm beach county area, this is the mecca for golf professionals. world number one dustin johnson, greg norman, jack nicklaus. i reached out to mark steinberg, his long-time friend to help us out. he knew i was going on here on fox business news, he didn't want to tell me anything. liz: that tell as lot. who added something immediately on tabloids in new york, this one says dui of the tiger. this one, "the daily news" says, "dui of the tiger." i mean it would be laughable if
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it weren't so upsetting and sad. what happens to tiger now? he already had an incident a couple years ago? >> it really is sad. ever since he had the accident back in '08-09, he has been trying to make a comeback. mentally this is hard thing. he went through a divorce. a very public divorce. everybody knew everything about what happened of the he has children. i think he is trying to be a great dad. he has become a great dad. he is more friendly with a lot of pga tour players. now he suffered physically with the four back operations, liz. he had to take a lot of pain medications, overdone it. it is not funny, richard pryor said anything after 12 nothing good happens. liz: that is true. i'm, unless the birth after child, somebody goes into labor. here is my issue.
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vicodin and ambien which is a sleep aid, vicodin is a painkiller, these apparently were at work in the situation and situations in the past. why would anybody get the behind the wheel after taking a sleep medication? it brings to he question judgment, and after what happened acouple of years ago where he had the car crash and elon his wife used golf club to smash the window and sex scandal, he lost a lot of money in endorsements. he still has 45 million to nike rolex a whole butch of names we could show but does that get squeezed down after this incident? >> no telling with all that. i think if anything the world has become more sympathetic for tiger. like a lot of other sports icons fallen from grace, mike tyson and lance armstrong. the world wants him to come back to play golf. he said after the last back operation he is best he ever felt.
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he is notoriously a bad sleeper. he got up odd hours to say to the gym to work out. when he was at tournaments, he slept as few as three three or r hours a night. maybe he needed ambien to sleep. combining those things together is not a good idea. i don't know what it is like to be addicted to those medication, it has a huge influence on your drive. liz: it is awful. they say don't drive when you have this. espn as you finish up already losing millions of subscribers due to things like skinny bundles and cord cutting. now they are -- all over the twitterverse having cleaned up the mug shot. they won't release it to us. legally we can't really use it. but, showing you the actual original mug shot, he has got, his hair is a little bit messy. i could show it to you on my phone. it is all over the place. liz: yeah. so he has his hair a little bit messy there.
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then the espn one, it is photoshopped. it is apparently photo shopped. that is what they always do with mug shots, put it through a system. is espn going to suffer for this. i know you work for us in fox sports may be a little bit of a softball here? >> i can say yes, they will suffer from it. i have never seen anything quite like that. liz: it was obvious to you that it was doctored? >> it was very obvious. i had more people send me whether it was from twitter or from other kind of sports outlets. why would they do that? it makes no sense. you know, the mug shot certainly did tiger no favors, jt having a cleaneup didn't look any good but i know tiger wants to bounce back from this. i think he is contrite. i'm like the rest of us as golfers. this guy played the best golf anybody ever played in the world for specific amount of time. he would rival jack nicklaus,
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byron nelson, or ben hogue ban. we -- hogan. we definitely want him to get better. >> we agree. we don't want people to suffer. appreciate night see you at aaron hills. liz: exactly. tiger will not be there? >> he said he couldn't play there. he wu drew from the u.s. open. liz: you and i will be there. "countdown to the closing bell" and fox sports headed to the u.s. open. the world es best golfers will be there at aaron hills. first time the u.s. open in wisconsin. "countdown" will be there the 15th and 16th. thanks a lot, brad. >> thank you, liz. liz: dow jones industrials down 36 points. we're waiting on the video from the dash-cam. if we get it, we'll break in and let you see it we're coming right back.
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♪ liz: well after discord all weekend long, and criticism of germany, donald trump is saying that the relationship is unbelievable with chancellor angela merkel of germany. but angela merkel is saying at this hour the united states is no longer reliable. is the world stage set for a battle between the u.s. and former friends, european powerhouse germany? or will this spat eventually fade away? what does it mean to trade and products that your company makes and exports? michael froman the former u.s. trade representative. they have different recollections of the meeting now. >> well, that's right. certainly the message that the europeans heard was that there is a lot of concern about unfair trade practices by germany in particular. here i think the administration has it largely wrong but there
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is an element that they should be focusing on. they're wrong in that the trade policies of germany are the trade policies of europe. europe is relatively open economy with exceptions of agriculture, if we want to the issues the trump administration should go back to the try to rye negotiate the transatlantic agreement but the bigger issue over the years germany put the brakes on efforts to stimulate the economies in europe, including in germany. if they were to use their fiscal policies to expand domestic growth it would help some of these imbalances. >> can we agree germany is very strong nation when it comes to things like debt and gdp, stronger than the other neighbors. do we agree on that? >> absolutely. liz: why aren't they paying the full 2% of gdp they are supposed to pay for nato which is in place to protect that country and others in the european union? >> we all have a mutual interest in nato and nato being strong. i think the trump administration
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as the obama administration was is pushing to make sure countries do up their contributions to the national defense and nato. the bigger issue is criticism of germany's trade policy or monetary policy which of course it doesn't have the control over. the ecb controls the euro but where they ought to focus on encouraging germany to use the fiscal space it does have to help encourage more domestic demand rather than export-led growth that could lead to more exports to germany and better trade balance. liz: exactly. the soft touch did not work. eight years of cajoling we're friends, come on effort did not work and things don't work you don't keep doing them over and over again. that is the issue some americans looked at and said, well, donald trump is going to be tougher. you will cringe a little bit maybe in the way he does it but at some point germany can afford
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this is like somebody not paying their phone bill but going out to buy a playstation. >> there has been progress. a high percentage of germany's growth come from domestic demand rather than exports the last couple years but that doesn't mean there isn't more that can't be done. the bigger concern, the relationships with asia or europe, they are not like one single real estate transaction. you can't just walk away from a partner. we need germany just like we need japan and korea and others on whole range of issues. you need to work with them across issues and have a degree of mutual respect. of course right now the chancellor merkel say the u.s. can't be relied upon, that very much undermines the transatlantic relationship. liz: back channel is the word of the day. maybe they have back channel communication to smooth things over. we shall see. michael, thanks for joining us. >> thanks for having me. liz: michael froman, former u.s. trained representative.
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we have the closing bell ringing in 17 minutes. did you see what happened in austin, texas yesterday? lawmakers clashing with each other as demonstrators overtook the statehouse of representatives, creating a powder keg of tension? is this the start of a new trend of in your face protesting? jeff flock is life on the scene in springfield, illinois where protesters are holding a sit-in outside of the governor's office in the state capitol building. how does it look so far, jeff? reporter: very loud sit-in, liz. this may be a powder keg of our own. you see the sit-in, this is in front of illinois governor bruce rounds office, a large crowd outside of here. i will tell you why they are here and what frustration is in just a moment. stay tuned. [cheers and applause] >> what a day on wall street.
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stocks came under pressure, new highs for nasdaq, technology finished in the green. on floor of new york stock exchange i'm nicole petallides. fox business. your insurance company
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liz: we have breaking news. the illinois house of the people is being swarmed by the people. the demonstratetores charged inside. you are looking at live picture. they're inside of the state capitol and straight at the door of governor rounds office. this after they marched 200 miles from chicago all the way to springfield. culmination of their protests over the prairie state's inability to pass a budget. the state has bills overdue, nearly two years without a working budget. by the way, illinois has the worst credit rating the nation. jeff flock, is right in there.
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springfield, illinois, inside with the protesters following their journey. jeff so far not turning out like one in texas which is a good thing. reporter: not yet. we're told some protester have gotten inside of the house claim about as well. this is the scene outside of the governor's office. you can see protesters that zip tied themselves together. i don't know if dutch able to see their wrists but they're zip tied together to make it more difficult for them to be removed. this is, i would say this is a super produce station, liz. young, old, back, white. in fairness is the republican governor's office, bruce rauner. the frustration not just with the pub governor by the democratic legislature. 700 da without audt. almost incredible. and, the -- the debt the state is already in.
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[applause] if you look at amount of debt the state accumulated gone up from 2002 to maybe manageable amount per now, household. maybe a crazy amount. these people are frustrated. without a budget, several state services are not being provided. people are going without health care. they're going withouted hecation in some regard. it is a mess here. and there are plenty people to blame. on heels what happened down in texas. maybe we're starting to see frustrations begin to boil over for both parties. liz: what is therapy solution? before they said tax trades at chicago mercantile exchange or hedge funds. those are organizations that employ people. this is governing issue from both republican and democrat? reporter: largely the group here
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i would say is in that camp that they like to see more taxes on the wealthy. the state is a wealthy state. we are in such a mess right now. they have no way out of it of the pension debt is not going away. the state supreme court said you can't diminish the pension and no way to declare bankruptcy because you're a state. what do they do? i don't if you look at faces here, most are young people. this is the future here. they're worried about their future. liz: i don't blame them. jeff, thank you. jeff is going to be there throughout after the after the bell and rest of the show. this is crucial situation happening in illinois. jeff flock, thank you. closing bell eight minutes away. investors look what is going on in illinois and what is going on in the markets.
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they have a very wary eye on both. 8 billion-dollar man john trainer says they're right to be worried and wary. number one thing that could hit stocks hard very soon. also how you protect yourself against those blows by doing something now. that something is next on "countdown." ♪
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liz: summer brock buster season kicks off with a, fizzle. memorial day box office receipts fell to lowest level in two decades pressuring movie theater stocks. get down to the new york stock exchange. nicole petallides, what are they doing now? >> one of them is down 5%. cinemark is under pressure, down 2%. these companies need memorial day weaken and june to boost up their profits. we saw the hot movies of the weekend, that included pirates of caribbean and "guardians of
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the galaxy," "baywatch" all which disappointed. total revenue generated was $176 million. that was ultimately a big disappointment as you noticed, falling to the lowest level in nearly 20 years. imax down 5%. what was everyone doing? they didn't hit the movie theaters. liz: see quote the lovers," with debra winger. not "baywatch," goodness. thank you very much, nicole. calm seas, yes. volatility jumping little bit today, on balance still pretty low. but asolitical and policy clouds hover on the horizon, where should investors search for and find safe harbors? cio at peoples united wealth management, john train nor, 8 billion, you're killing it out there. tell us how you're doing that? >> we have a lot of loyal clients that make up that 8 billion but i will tell you hit the nail on your head with
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your initial question. what clients should be focusing on right now, i know the headlines are back and forth on donald trump, but they should be focused on building good, all-weather portfolios with their highest conviction names. because we'll see volatility whether fed-induced or trump-induced we'll see more volatility going forward. liz: i agree, what are the names that give ball last to the ship in safer harbor for the portfolio? >> great. i start with technology name we liked, we followed the stock quite a few years. it really hasn't done a lot for the last few years but we like oracle. they finally look like they have a good cloud computing strategy. we're excited about the their future going forward. in health care space we like abbott labs. they completed the st. jude merger. last quart are earnings were veried poo good. we think abbott is very well-positioned.
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liz: they always had a great dividend. >> 2.4%. liz: better than 10-year treasury. >> precisely. sad to say but it is true. in contrarian space stock in energy sector, as you know is the schlapp -- s&p 500 askr of schlumberger. if you want exposure to energy you should be buying schlumberger. liz: this caught our eye, you said president trump, people should look at everything, he is approaching the david gergen moment but he worked for bill clinton. what is the connection there? >> absolutely. we're talking to clients about this. what we're hoping we have fingers and toes crossed that president trump will realize in most of the situations he is the shoeing himself in the foot. we can blame a lot of different people but he needs to get ahold of his administration. president clinton had the same problem early in his term. he brought in david gergen,
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elder statesman. gergen got the administration on track an clinton had a very successful period. liz: great to see you. john tray nor, people's wealth management chief information officer. markets start to the downside. here is the closing bell. [closing bell rings] david and melissa pick it up for "after the bell." hi, guys. melissa: the dow closing down 52 points for second straight session. s&p and nasdaq moving in the same direction. snapping a seven-day winning streak i'm melissa francis. david: i'm david asman. glad you could join us for the "after the bell." sean spicer back at podium at the white house. peppered with question on reportof back channels to russia and shake-up in the communications staff. we'll take you live to the white house for the latest.

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