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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  September 25, 2017 3:00pm-4:01pm EDT

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he is expected to sign a memorandum instructing the department of education to invest $200 million a year to expand s.t.e.m. education programs. good stuff. all right, liz claman is going to bring it to you just as soon as it happens. she joins us now. liz: exactly. we've got our cameras, we're waiting. as soon as that happens, we'll look at it. it is jobs, but it's also obamacare, the national anthem and north korea all grabbing investors' attention in this final hour of trade. as the markets see a bunch of reasons to sell, not too many to buy. at any moment, as you heard trish say, we expect president trump to announce he's giving the department of education $200 million, and it basically involves getting the nation's students prepared for the brave new jobs world; science, technology, engineering and math. we'll take you to the oval office as soon as the president is ready to speak. let's, if we can, dip into the live picture of the senate finance committee hearing going on right now. protests breaking it up and then
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moving out. it is continuing to go on though. you can hear the protesters chanting. now, does the senate's repeal and replace obamacare placeholder have a pulse? as the afternoon goes by, some are indicating it's dead before arrival because there's a gaping loophole in coverage for what those protesters are concerned about, pre-existing conditions. if the senate manages to pass it, will the house close that loophole? georgia congressman drew ferguson is a dentist in the house doctors' caucus. he voted for the house version which included the pre-existing coverage. he'll take the pulse of the bill for us live. and the nfl players didn't like president trump's comments in alabama friday night, demanding that nfl owners fire those, quote, sons of bitches who won't stand for the national anthem. will the president end up being right? ratings today show the showdown is bad for business, but would firing the football stars be even worse?
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the former owner of the new england patriots, charles sullivan, on what he thinks about the players, the protests and president trump. on wall street the nasdaq feeling the burn as its most popular stocks get torched. the only to index moving higher right now, major one, we'll tell you. we're less than an hour to the closing closing bell, let's start the "count down." ♪ ♪ liz: so we are awaiting the president who's about to speak at any moment, but in the meantime, we just wanted to let you know that hurricane maria -- yes, it is still a hurricane -- is now only 30 miles away from -- 300 miles away from north carolina's post. warnings mean it's definitely coming, posted for much of the north carolina coast, tropical storm warnings, and mandatory evacuations have been ordered for visitors to certain areas, especially the ones around hatteras island, right now maria is moving north at 7 miles per hour, and we promise we will
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bring youorenformation as it getslor and closer tohe cot. tually, it's a category one at the moment. it's the thing, it's just not dying. quickly checking the markets, north korea jitters making their way back on wall street. take a look at this chart. around 11 a.m. eastern today the rogue nation came out with a stark warning saying it has the right to shoot down strategic u.s. bombers even if they're not in the air space. the news sent the dow tumbling 130 points to session lows and i believe for the nasdaq which is coming down for a whole bunch of reasons but looked very, very dramatic, i believe down 82. both are up off the lows of the session, but the volatility index is spiking right now. off the highs but still up about 12. the vix is the the biggest gain since september 5th. the latest geopolitical flare-up is driving investors into safe haven assets. if you look at the ten-year treasury yield, it is falling
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three basis points. right now the yield 2.22%. gold bugs always like are it when money goes in, but when you start to see average investors push in a little money, you can tell there's concern. up $14 a troy ounce on. but there is a bright spot in the market today, thesrussell 2000. the small and mid caps. we know you own a lot of those stocks, but it is moving higher just slightly at the moment. we can see the russell, we -- let me just check. russell, actually, and this is significant, hitting an all-time high today. it is still higher, just fractionally, i would say it's almost flat here, but pretty significant. when everything else is down and you do have, certainly, regular volume for most but more volume for the tech stocks that are moving lower, that is something to be mentioned. one of the most highly anticipated mergers on wall street possibly hitting a roadblock. shares of sprint tumbling on
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reports that rival t-mobile will not pay a big premium or any premium at all if the two companies agree to merge in an all-stock deal. so sprint is falling eight and a third percent, t-mobile down about 2%. but when a company gets bought, their shareholders definitely want to see a premium. however, this all gets very, very complicated sometimes because t-mobile's real parent is deutsche bank and sprint, soft bank, so depends on what the bigger guys in the picture say. to the white house right now, where president donald trump is set to make that announcement at any moment from the oval office. here's what he's expected to announce. he's expected to sign a memorandum that instructs the department of education to invest a minimum of $200 million each year to expand access to high quality so-called s.t.e.m. and computer science education because that's where the jobs of the future and currently are right now. this as it was revealed just moments ago that the white
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house -- by the white house that certain details of president trump's tax plan have been finalized and will be revealed on wednesday of this week. let us get to fox business' blake burman who just left the white house briefing to give us a preview. first to this -- i hesitate to call it jobs because it's really for the department of education to then, certainly, train kids to be prepared for the jobs that will be open in the future, correct? >> reporter: and this -- yes, liz -- has specifically been a pet project of ivanka trump. these s.t.e.m.-related educational experiences for students and trying to build that up within schools all across the country. what we're about to hear from the president is this new memorandum that he will sign instructing the department of education to put at least $200 million a year into schools specifically for these s.t.e.m. educational experiences, classes essentially, and they want a big focus on computer science. you were talking about tax reform too as well, and the press secretary, sarah sanders,
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saying how certain parts of tax reform have been finalized. that comes as the president said over the weekend that parts of it had, indeed, been finalized. but the press secretary moments ago gave us a bit of a preview as to what we can expect to hear from president trump on wednesday when he travels to indiana for the big unveil. >> the president will are discuss new details on the framework for these cuts and reforms. these details will include specific proposed rates for individuals, small businesses and corporations, and he will also discuss the elimination of loopholes that have rigged the current tax code in favor of the wealthy and well connected. >> reporter: moving the markets on this day as you discussed, liz, is this threat or this declaration from north korea in which they feel the united states has declared war on that country. a north korean official even saying today that they feel they could, quote, shoot down united states strategic bombers at any time. sanders was asked about that, and she pushed back against the
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notion that the u.s. is at war with north korea. >> well, we've not declared war on north korea and, frankly, the suggestion of that is absurd. >> reporter: dominating the white house press briefing though, of course, is this new national conversation about the nfl and players kneeling and president trump's reaction to it. i bring that up, liz, because as you know we just talked about it, the president is expected to speak from the oval office momentarily, supposed to be on this s.t.e.m. announcement. we often hear questions shouted, the president often answers those. i have a strong suspicion if he does, it'll be on that topic. the white house is already trying to build up the argument that the president is not against these nfl players; but, rather, for the american flag. we'll see when this is posed to the president, if it is, how he responds. liz: we actually, blake, have the former owner of the new england patriots coming up in just a moment, so i hope people stay for that. we'll pointedly ask him, of course, if you owned the team today, would you fire these players, stand with them or come
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up with some other solution? you've got to hear what he has to say. thanks so much, blake. >> reporter: yep. liz: throngs on angry protesters from around the country barging in on the senate finance committee hearing on graham-cassidy. that, of course, is the revised american health care plan bill that the senate is hoping to get passed, voicing their opposition to the gop health care bill. and it could come up for a vote any day now. i believe the deadline is saturday if they want just for it to pass by 51 votes. the bill was hastily revised over the weekend to direct more money to states where senators are a little intransigent and a lot intransgent; alaska, arizona, john mccain, kentucky, rand paul, maine, susan collins. these, of course, are states where senators have said they're wavering to the no side or they will not vote in favor of the bill or they're just saying they're undecided at the moment. all of this as the senate careens towards the saturday, september 30th, deadline to
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repeal and replace obamacare. republican congressman from georgia drew ferguson is a dentist and a member of the gop doctors' caucus. thank you so much for joining us. with your practiced both political and medical eye, does this thing have a pulse in the senate, or has it already flatlined? >> no, i think it does have a pulse, and i think it's important the senate keep work on it and get the house a bill. we've already passed a bill in the house, we've shown a willingness to push forward on this issue. and what the senators know is what i know, that my constituents back home are hurting under obamacare, and we have got to do something, get them some relief, and let's fix our health care system. liz: you voted yes on the original american health care act, correct? >> that is correct. liz: now, it protected people with pre-existing conditions. graham-cassidy, as we understand it, allows states to increase premiums for people with pre-existing conditions, and while supporters argue that states can get a waiver from obamacare protections like pre-existing conditions, it'll be fine as long as the states
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promise -- and i quote -- adequate and affordable coverage. here's the problem, representative, it isn't specifically articulated what "adequate and affordable coverage" is. and that was the exact point that fox news' chris wallace pressed mark short about that issue. let's listen to this, and then you can comment. >> adequate and affordable coverage will be guaranteed to every one of those states that apply. >> but they can -- what's the definition of adequate and affordable, and what does it mean when a state can raise premiums? >> state -- that is, again, that is a separate question, and do you want washington, d.c. dictating -- >> what -- >> -- across the country what those rates are for everybody -- >> what good is insurance coverage if you can't afford to be covered? liz: so, congressman, do you have any idea what the bill's definition of adequate and affordable is? >> well, we're waiting to see what the final bill coming from the senate is, but i can tell you this: i think the question, the end of the question right there in the interview where they said what good is coverage
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if you can't afford it is exactly what we're saying about the affordable care act right now. we have premiums that are through the roof, deductibles that are really out of reach for the average american family, and so we have got to move in a different direction. and i think that anytime that we can return power to the states in the decision making closer to the people, it's a good day for america. liz: you know, you are so right. i have a very close friend who is a freelancer in chicago. well, she already can't afford it, but in a couple of months some trigger is going to be pulled, and she said i will not be able to afford coverage. so it absolutely has to be fixed. but if it were to pass in the senate as is -- and it must come back to the house for a vote -- as it stands, would you give it a yea or a nay when there's this squishy area about what really is covered as far as pre-existing conditions are concerned? because just about everybody i know who's an adult has something like that. >> well, let me say this, i
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stand by what we said originally in that we want to make sure that every american has access to affordable coverage. i certainly haven't seen the final draft of the bill as they're still working on it, and we're going to wait to see that. but we're going to do everything that we can to do our part to push this bill across the finish line because what we have right now is simply not working. it's unaffordable, it's a broken system. and it's not only hurting patients, it's destroying our entire health care system. you know, at the beginning of your interview you asked about me being a health care provider. i will tell you this is going to continue to drive providers out of the medical community, and we're going to exacerbate the problem of access to care. so we've got to do something, and i believe this is a step in the right direction. i also think it's important to remember that we as congress should not expect to take one single vote in the health care debate to be over. this is the first step in what will be a long process of rebuilding our health care system and moving away from the affordable care act. liz: before we go, as health care stumbles and tries to find
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its way, do you have belief that the tax reform plan can pass, signed, sealed and delivered as promised by the end of this year? >> i do. i'm excited about the possibilities, i'm excited about a plan that is much more simple, that is much more fair. it removes the loopholes and the unfairness in the tax system. it lowers rates on every single american. that's what we're fighting for. and i believe that it will happen because this nation is hungry for job growth. americans want good paying jobs. we know that if we do, if we do our homework, we get this right, we are going to have success as a nation economically, and that is vitally important because we have a $20 trillion debt, and we have got to pay that down. liz: and floss, always floss, right, dentist? >> absolutely, yes. [laughter] liz: i know. i'm a little obsessive about flossing. >> hey, that's a good thing. liz: keep us posted. congressman drew ferguson, thank you so much. so in the end, we're always talking about business and whether it's health care or
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anything else, the nfl is a business that literally owns a day of the week. with the closing bell ringing in 45 minutes and the dow cutting its losses in half, it definitely wasn't any given sunday yesterday as scores of players and owners knelt in protest over the president's stance that players should be fired for taking a knee during the national anthem. but will any of the owners really fire players? and what will that do to the league as a business? a fox business exclusive, the former owner of the new england patriots with his bet on how this drama plays out and should play out. and it's not just nfl jobs the president is focusing on. he's about to reveal live from to school office -- oval office how he plans to fill the gaping skills gap. "countdown" coming right back. ♪ ♪ nah. not gonna happen.
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♪ ♪ liz: some of wall street's biggest hot shots of the year are swimming in a sea of red at this hour. it's pretty much a sell signal for amazon, netflix, google parent alphabet and microsoft. and in the end, that's dunking all of the major averages in red ink except for, well, it's really flat, but the russell 2000. are the hot shots diving because of a threat by north korea to
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shoot down u.s. planes, or is it something else? to the floor show, matt, i'll bin with you are traders pinpointing the north korean statement that president trump's bellicose language institutes a deck la -- constitutes a declaration of war? everything i'm reading on all the web sites is saying pretty much that. >> i think we need something to blame this small selloff on, and that's the easiest one, but i think it's nothing more than a rotation. you know, we've seen this in, and the tech stocks were the biggest beneficiary of the upward move, they're going to be the biggest beneficiary on the downward -- not the beneficiary, but subject to the biggest decline. nothing's really changed here. the fact that the vix is up 10% today and the markets are only down less than half a percent is kind of scary. people are looking for this volatility. we're going to get with it eventually, but this isn't the reason right now. liz: alan, what is the reason from where you standing? >> like matt just said, i think it's just rotation. it's money flow movement. you saw big gains in tech.
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you've seen the russell 2000 play catch-up in the last month where it had been unchanged, it's up to new, all-time highs. we did have a key reversal last week in tech, so we had new highs and a lower close and a lower weekly close. maybe we'll see a bit more profit taking. but to get to the vix, it's interesting we have had six straight weeks coming into this week of lower highs. we've seen this decline from 1750 continue to slide, fall and now we're getting a bit of a bounce. now, it's important to see if it's sustainable because even and every time we've seen it, it's been whacked right back down. keep an eye on the energy stocks, they're doing well. liz: yeah, they sure are. the s&p energy index is hitting a four month high because oil prices are now above $51 a barrel. i've got to tell you, it's been a while since we've really seen that. let's see if it holds. it's at $52.14 in the after-market session. luke, that's your territory, and it's tending to at least hold up
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some of the market here. >> yeah. i mean, it was my territory below 50 where i didn't think it was going to break out -- liz: i know, mine too. [laughter] there's so much of a glut. but apparently it's rebalancing now. >> but, liz, that's the whole point, right? for the last three or four years we always talk about are they going to artificially cut supply, are they artificially going to pull back on production. so there can be a lot of oil out there. the part that i keep talking about, the bottleneck, are the refineries. people should look for higher distilled products prices. this winter they're going to pay for more heating, gasoline is up, i don't think it's coming back anytime soon. but part of this oil story is this saber rattling, and it's also the weaker dollar. look at the dollar move over the -- liz: dollar was weird. over the past day, forget a couple of months. it was earlier high, and then it reversed. it's been moving around so much today, i don't even know what it's doing.
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okay, most currencies right now are lower versus the u.s. dollar. in fact, the euro was hitting, i believe, a multi-week, maybe even multi-month high. but at this point, matt, let me just finish with this idea that you're starting to see some of the big momentum stocks hit close to connection territory. i'm thinking amazon, tesla. i don't know if we can get tesla up, but tesla will be in correction territory if it hits above $346 a share. that's no surprise, but does that give you a sense of the broader market getting too tightly wound so it's springloaded to implode at some point? >> no, i don't think so. i think you look at the small caps, they are catching up. still look at the energy names. you know, toward the end of the year, what are you going to do in your portfolio for any reward? buy some of these energy names. they've been moving higher today. that's just what we're going to see. it's not a surprise. i don't think it's any doom or gloom that's out there. you know, let's focus on today. it's a little bit of -- maybe
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you see they'll come in and buy the market. we've seen that all along, buy the dips, buy the dips. just when it looks bad enough, that's when people step up. liz:alan, that's the question. people are getting anxious. at least people who have seen certain movies before. what we haven't seen is how the fed is going to unwind with its gigantic and bloated balance sheet. of course, last week was the announcement, october 5th they'll start doing it. but now you have a whole bunch of fed people speaking out, including janet yellen. >> right. liz: these comments coming late this afternoon from chicago fed president charles evans. he is concerned -- like a lot of people -- that inflation, pricing power, rising prices too low, and they can't raise, he says, until inflation's on a sustainabling path of 2%. i don't want to get too in the weeds here, but if you don't have wage growth, wage inflation meaning people's wages go up, especially with this tight housing market, what are we to
quote
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think of that? >> well, i think wage inflation will eventually spark a bit. you're starting to see some of that. if you look, there are five million job listings out there. we don't have qualified candidates for a lot of those jobs. so, you know, eventually the price they're going to have to pay these people will go up. i'm confident that the fed's going to -- you may not agree with their policy, but i'm confident that the fed's going to pull the right strings at the right time. they don't have to unwind this balance sheet, they're going to. they could just let, you know, these things mature and get the proceeds. we'll have to wait and see, but i'm confident they've done the right thing now for eight years, and the results have shown so far. liz: we have breaking news, the president is signing basically an issue of $200 million for the education department. and as he prepares to do that, it is for training our students for the jobs of the future. >> do they look like nice people? he's a nice person, steve. [laughter] well, thank you, all.
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it's a great pleasure to be here with secretary devos, secretary cost that and ivanka. i also want to express my parisian to representatives brooks, smith and fox. thank you all for being here. thank you, thank you very much for being with us. and mimi walters, thank you very much. thank you, everybody. thank you, susan. i want to just talk about leadership. that's the most important issue, we need leadership in this country. women and girls and for every child in america represented by all of the incredible students here today. these are great students. are you all good students? [laughter] everybody has really terrific marks, right? >> yes. >> well, you're doing fantastically, that's why you're in. i just said before the press came in, what's the name of this office? >> the oval office. >> every one of them knew that, right? as you know, the workplace is changing. we need to create new pathways for all our citizens to get the
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best jobs. when you get out of school, you want to get great jobs, right? >> yes. >> i'veed asked ivanka to lead up the effort on work force development and the issue today is a critical part of that endeavor. have you seen ivanka? do you know ivanka? where's ivanka? there's ivanka. [laughter] my administration will do everything possible to provide our children, especially kids in underserved areas, with access to high quality education in science, technology, engineering and math. are you a good math student? >> yes. >> are you? let's see. what's your strength in school? science? >> yes. >> good science, right? what's your strength? >> [inaudible] >> there you go, man. thank you, honey. thank you. [laughter] in particular, computer science for grades k-12. that's so important now, right?
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it's a whole new world. you've got to know how to use those computers. currently, more than half of high schools do not offer computer programming, and nearly 40% do not offer physics. do you have computer programming in your schools? >> yes. >> how about you, do you have them in your school? >> yes. >> you all pretty good with computers? >> yes. >> it's important nowadays. greater access to s.t.e.m. and computer science programs will insure that our children can develop the skills that they need to compete and to win in the work force of tomorrow. who likes to win? [laughter] anybody like to lose? [laughter] better s.t.e.m. education also means higher paying jobs for -- liz: well, the president blowing away the naysayers who way back in march when he first took office that the department of education would be gutted by budget cuts. it is to the department of education that the president has just signed the order to grant
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$200 million to begin with for getting children up to speed for the jobs of the future. i call it a brave new world, he said the same thing, new world here. this is fascinating to us because s.t.e.m. jobs, the science, technology, engineering and, of course, math are where we see a real skills gap in this country. did you know, and we can put it up here, there is a record number of job openings right now, 6.2 million jobs. th's from the septemb jolts, job openings and lab turnor metrichere. so i want to bring in our political panel. democratic strategist richard goodstein and conservative commentator john jordan. 6.2 million. somebody woke up and, you know, the president granted his daughter ivanka the atta girl on this one because, clearly, we haven't been training people for the right jobs. john jordan, how do you see this working? because we also know that the federal government is
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notoriously bad at job training. it really should be left to, perhaps, you know, what they call the private sector. >> well, the federal government is pretty, is very, very bad at this. but this is still a start. it's important that we do get our schools up to speed in this area. this is near and dear to my heart and my business and my foundation. and the 6.2 million jobs, we've got to get those people to work. at the same time, there's still a lot more unemployed people in this country, and we need to make sure we have the right fiscal policies that are going to create a lot more jobs than those 6.2 million, because we've got a lot more unemployed than that. liz: the president's first budge he had floated back, at least one of them back in may, proposed a 40% cut to job training programs. president bush, i remember, had put together many of these job training programs during, you know, difficult times post-9/11. do you think that that's a mistake, or do you think that that's the way to go and start educating the kids way earlier? listen, bill gates has said k-12
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is has been a disaster when it comes to s.t.e.m.. >> look, nobody will disagree that an investment in s.t.e.m. education is, you know, will suggest it's not wise. it is. both parties, you name it, rich and poor alike. the problem with this is this is 200 million. great. when donald trump proposed his education budget back in may, it called for a $9.2 billion cut in the department of education. so the point too of the 9.2 billion, that's what he's now suggesting. that's the equivalent. this is a, this is nothing compared to the size of the cut that he's suggesting. so i guess i'd want to know is he basically saying we're out of it, in which case why is he even bothering with the 200 million -- liz: because it's targeted maybe? you know, it's targeted in the right place. maybe there was bloat and redundancy. but let's just say this, john
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jordan, in addition to jobs health care reform is is being thrust back into the spotlight, and that, of course, on capitol hill is not working once again. there appears to be some people who are saying forget it, senators saying we're not ready to do this. in fact, i want to let people know 4:30, in one hour, rand paul -- the senator from kentucky -- has called a news conference. do you understand what senators have a problem with on this one? >> well, they all -- different senators have different problems with it. a bold prediction, i don't think it happens. you've got mccain who's a hard no, rand, senator paul who's so invested in voting no on this. he's a senator, he didn't run for president, but he wants to dictate what's in the bill when sometimes politics is the art of the possible. and then you've got susan collins who really doesn't want to vote for this x. the latest push, the latest modification was really designed to put senator murkowski over, the idea being if she goes over and goes to yes, you might be able to put enough pressure on senator paul because you put him in the
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position of being the guy who sank the repeal of obamacare. that's the direction that leadership's trying to go with this, and it's a real uphill climb. liz: i would just correct, rand paul did run for president in 2016, but i think you meant he didn't win. listen, we're going to take that, i'm sure after the bell we'll be letting everybody know what rand paul is about to say. we can't guess. he's a no right now, but he could have changed. richard goodstein and john jordan, good to see you both. the closing bell 27 minutes away. you know, inch by inch we are climbing back to the flatline. the dow is still down 56, but it had been down 130. so you're seeing a little resilience here. you're seeing resilience on both sides in holding their ground when it comes to all kinds of issues between athletes and president trump. steph curry won't get invited to the white house, but it doesn't seem to be affecting his biggest sponsor. under armour up today after
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capital markets upgraded the athletic company to overweight with a price target of $20. right now it's at 16.66. under armour's been down more than 41% this year. and in that same vein, nfl owners standing by their players as they take a knee during the national anthem. should they be punished? fired for protesting on the company's dime? well, if so, then why were the company owners doing the same thing, standing with them? charles sullivan and his family owned the new england patriots. he produced super bowl i and negotiated the league's contract with the players. he'll tell us what he thinks about these protests, the players and whether all of this -- including president trump's threats -- are bad for business. ♪ ♪ a
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liz: we've got breaking news in this last hour. ratings percent nfl's sunday night football game between the oakland raiders and washington redskins, flat year-over-year, meaning same number pretty much from last year's week three sunday night matchup. not a drop like some of the earlier games this past sunday, but can the lower ratings overall be attributed to player and team protests during the national anthem that rocked all of sunday's games? or just changing metrics and changing the way that people view things, whether it's online or on their phones? and if so, how much of an impact will these protests have on the league going ahead? we asked former new england patriots owner and former nfl labor committee chairman charles sullivan in a fox business exclusive. great to have you. you're a former owner. if you owned today, what would you do? the president said if any player
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took a knee, fire the, quote, s.o.b.s. would you? >> our family would not do that, no. liz: why not? >> we, we feel that there was a giant disconnect here and a giant disconnect on the part of the president, a disconnect on the part of the players. and when he made that statement, he didn't realize what an impact that would have, and the players also didn't realize what they were doing would also have a negative impact. so there were two giant disconnects, and as i think i had mentioned my background is my late father whose name was billy sullivan, he and his colleagues -- liz: other team owners. >> other team owners that developed the american football league, paul brown, joe robbie,
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ralph wilson, they were all navy men. our commissioner won the congressional medal of honor. liz: and you served as an infantry captain in vietnam. >> i did. liz: so you're standing up for the players. i assume, can i guess because it's freedom of speech and that the things you fought for where are the constitution? >> well, i think that the, as i said, there's a disconnect because the players instead of expressing solidarity among themselves, it would be my hope that they'd express solidarity with the soldiers who made it possible to have the wonderful nation that we have, the soldiers who died, the soldiers who were hurt, the soldiers who are current hi serving. liz: -- currently serving. liz: completely, completely agree. it seems misdirected. however, this is what -- and it began with colin kaepernick --
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this is what he thought might get attention to what he felt were really devisive race relations in this country. so it would have spread anyway, i think, it kind of had, but did president trump throw some gasoline on the fire by simply saying these guys should be foured in and then adding -- fired? and then adding to it, oh, the refs are ruining the game by giving penalties for hard hits. you know, we've evolved and figured out there's some really bad concussion numbers coming out of the nfl now, and would we not be remiss if the league didn't fix something on that regard? >> i think that -- [audio difficulty] on this issue. the commissioner and the wonderful league office is focused toen that issue -- focused on that issue. but i do think that the president did throw gasoline on the fire, and it caused this reaction with the players which
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was unnecessary, because what we're trying to do is the national anthem, what that stands for, is devotion to the nation, devotion to the soldiers who have served, who have given their lives and the soldiers who are continuing to serve now. liz: although here we are a business network -- >> right. liz: -- the nfl is a business. no ifs, ands or buts. you ran a team, you you know how expensive it is. ratings are down, and the earlier games yesterday whether it was the steelers or the giants, even with their owners standing with them, the ratings were down year-over-year. at what point do the owners turn around and say, okay, we understand where you're coming from, but this can't be the place. people don't want a side order of politics with their entertainment here. >> no, people do not. and the appropriate place to protest is to run for office or join the social media, do those kinds of things.
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the appropriate place to protest is not during the national anthem of a nationally-televised game for the fans who are looking forward to seeing football. liz: one last thing. we've not heard from a single sponsor raising concern or pulling their advertising from the nfl games. do you expect eventually they will? >> i don't think so because, ultimately, this problem will be solved. i mean, ultimately, the players will realize -- once they do realize -- that the national anthem is something that's a source of recognition to what soldiers have done for them, for all of us. and once they come to that realization, i believe this problem will be solved. liz: well, the country has a pretty rich tradition of athletes taking political stands, everyone from muhammad ali to jesse owens to marty glickman throughout the years so, you know, it shouldn't be a surprise to to people. it's just en masse and pretty dramatic in this day and age.
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thank you so much. >> thank you so much, and thank you for your great show which i follow all the time. liz: oh, that's nice. and, you know, my husband's a patriots' fan, but i'm a cleveland browns fan. come on, give me some browns love. >> oh, okay. liz: he can't even. [laughter] do you hear him? nobody can. except me. >> i think the browns are doing a great job of trying to right the ship. liz: 0-3, great job. good to see you. >> thank you. liz: and he runs premiere event management now. the market still holding steady, same exact place they were at the top of the hour, down 62 for the dow jones industrials. s&p is also lower, nasdaq getting hit the hardest. we will be right back. ♪ ♪ are rising together. we're invested in creating the world's first state-of-the-art drone testing facility. which marks the start of our nation's first 50-mile unmanned flight corridor.
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♪ ♪ liz: we've touched upon all these things, north korea, immigration and president trump's comments on nfl players protesting during the national anthem maybe dominating the headlines, but none of these controversies has been able to derail the administration from its focus on tax reform. the white house preparing as we speak to outline its comprehensive tax cut plan within 7 the hours, right -- 72 hours, right, charlie? >> allegedly. i believe it when i see it, but here's what we do know about this plan. be nice if it was sooner rather than later, but we take what we can get around here. the outline will likely show a corporate tax rate being cut down to around 20% from 35%. i think that's in flux. i mean, the president -- that's what we're hearing from the house and senate leadership. president trump has said behind the scenes that he wants a 15% rate. look for it to start at 15. that's not out of the ordinary, if they start it at 15, but we'll see wednesday. liz: you start at your ultimate,
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and then you kind of -- >> right, that's what i would think. the whisper number we're hearing the 20, don't be surprised if the number that comes out in this plan as, i guess, an outline is 15. that's pretty good, by the way. that would be a huge boost to the markets. blueprint will likely show the top rate, and this has been out there, you know, trump ran on this during the campaign, it was a plan proposed by arthur laffer and larry kudlow and steve moore, top rate going from 39 percent to 35 percent. again, this is individuals. it goes from seven brackets to three. so a tax simplification. liz: we need that. >> excuse me? liz: we need that. we need simplification. >> here's what's going to to be really interesting. one of the loopholes that we hear that are going to be taken out on the individual side which should cause a huge ruckus, but this is where the gop is leaning. when you talk to people on the hill, gop is clearly leaning to eliminate the state and local -- liz: oh, that's going to be
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so -- [laughter] >> and it kills me too because i live in new york state, and we get crushed with state and local taxes. liz: i get new jersey, new york city -- >> me too. you're preaching to the choir. so that's going to be a fight. now, i wonder if they come out with that. i know the leadership is leaning that way. paul ryan and some of the other -- mitch mcconnell. listen, they're not from new york, they're from wisconsin and west virginia respectively -- liz: mitch mcconnell -- >> kentucky, i'm sorry. so, you know, these are not states with state income taxes, right? and city income taxes that are onerous like ours. so they may take, try to take this out. i think if you're a republican congressman from new york, new jersey -- liz: oh, they'll have a fit. >> they're going to boycott. liz: all right peter king said -- >> no way, right? liz: you can't. and art laffer said leave those and put in a carbon tax. he seemed to be fine with it. he said that on can cavuto's
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show. >> i didn't see it. i would agree with that. this is going to be a -- liz: gotta raise revenue. you have to raise revenue, people. we have to pay for this. >> liz, here's what's going to be interesting. where the fight -- the fight's over the loopholes, and this is where this thing could get bogged down and delayed. will businesses, will companies be able to expense interest payments on debt, right? you can't do that now. it's a break, you know? if you want to issue a lot of debt, can you expense that? we don't know. this is a big loophole which we'll have to see. charitable deductions, i can't imagine they're going to take that out to. liz: larry kudlow said keep those in and keep the mortgage deduction in. >> but screw new york. gary cohn, who used to work at goldman sachs. we'll see. i believe it when i see it. but you could see how this thing could get bogged down like health care. by the way, your last guest was fascinating -- liz: charles sullivan. >> on the business side of the nfl. i'm going to have a column on
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this momentarily. i think it's on foxbusiness.com right now. the average trump voter correlates pretty closely to the average nfl viewer. liz: yes. >> they are hurting -- liz: and if they leave -- >> i'm just telling you, i have no problem with one knee. it's an education presentation. by the way, it's not the worst protest expression -- liz: i don't think they're protesting the military. they're not protesting the anthem, they're using it as a venue which is not appropriate. >> they're not burning flags. i think that's a legitimate protest. the fans don't, and you're biting the hand that feeds you. anyway, it's on foxbusiness.com. liz: but charlie sullivan said he and his family who were owners would not have fired them. >> but he also said when they figure out the economics, they're going to stop. liz: yes. they'll come -- [laughter] they'll find a different venue maybe. good to see you, charlie, thank you very much. closing bell, we're six minutes away. coming up, the number one trade you should be making right now
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before the third quarter is done and dusted. that's according to art hogan coming up, our good friend with $12 billion in his firm's assets. ♪ ♪ . . . . think your large cap equity fund
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before investing, consider the fund's investment objectives, risks, charges, and expenses. read the prospectus carefully at alpsfunds.com/amlp ♪ liz: i had an idea. my team had an idea. let's kick off the last weeks of the month and the quarter on wall street, with one idea. where should you put your money right now? we bring in wunderlich securities chief market strategist art hogan for that. boy, this is amazing. we're wrapping up the quarter already, going into the fourth quarter, tell me what should people be looking at? >> well, liz, we spend most of this show talking about unsafe the world has to then, geopolitical hot spots and north korea iran, how that will hit off. one things you might not know
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of, they make the drones america uses. this company is coming into its own. when you look and spend, it will go up, one thing you can be sure of, what will be increased in the budget is defense spending. i don't think just the u.s. but across the world. one of the more exciting places new security systems that aren't manned this is one of the greatest ideas we come up with the research department. we think going forward it will be a great idea. liz: a lot of viewers haven't heard of this name, kratos defense and secured solutions. ktos. where is it looking to go? >> i can tell you this, coming out with entire new line, phase 3, supposed to come out in 2019. looks like they're pushing it toward 2018. unmanned air force planes or drones, not putting people in harm's way. do surveillance work and recognizance work. defense system of the future.
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so that they're looking to continue to grow here domestically internationally. i think it's a great idea. [closing bell rings] liz: front page of "the new york times" of, that exact story. drones. you have to figure it out. art hogan. i will send it over to "after the bell." melissa: new threats out of north korea sinking stocks. the dow ending down better than 53 points. nasdaq hit the hardest as as tech titans loselouser is. i'm melissa francis. david: i'm david asman. glad you could join us. here is what else we're covering for you in a very busy hour. a big week for tax reform and health care as the clock is ticking. new details what the president is calling, a quote, totally finalized plan, including the largest tax cuts in our history. music to melissa and my ears. as the republican leadership in the senate tries to push through

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