tv Countdown to the Closing Bell With Liz Claman FOX Business October 4, 2017 3:00pm-4:00pm EDT
it is good to see you. it is definitely a sad day there. more than 500 of them. ashley webster is in for liz claman. president trump on the ground in las vegas making comments after meeting with the victims of the deadliest shooting in the nation's history. the skill and expertise of a medical professionals at the hospital that took in all of those injured in the deadliest city. as we learn more about the man who killed 58 people in a country music concert. hoping to learn more from his live-in girlfriend. just returned from a trip overseas. they will tell us how the
deadly event could change the way we do business forever. the senate budget committee working hard to mark up a bell. we will ask the house budget committee member doesn't president trump really want to wipe out puerto rico's debt. we have that reaction to the surprising comments. on wall street markets are headed for the trifecta. they are all looking for that third straight record) we are less then an hour from the closing bell must begin the countdown. >> breaking his the chief richard smit is back on the
hot seat again. when you love to be this guy. on the data breach that exposed the private information of 146 million americans we have much more on his testimony straight ahead. but now let's take a look at those markets. again racing to records at the close. this would be the 50th record) s&p and the 62nd for the tao since the election last year. all of this after hitting an all-time high earlier today. the nasdaq moving up. up to a half points at 65.34. it looks like mylan is putting its epipen troubles in the rearview mirror. they surged to search to the very top of the s&p 500. you can check out the shares. tumbling on this news.
and netflix reached her through. they just keep on growing. the stock trading around hundred 84. right now but the analyst citing strong support subscriber growth. shares feeling the low. trading as you can see up to a half percent at 183. let's get right to a las vegas. the scene of the buddy massacre. they are -- that has left 15 people dead. federal authorities are now saying that stephen paddock preplanned the mass murder extensively. here's what we now know. the government was watching as officers defended upon the
hotel room. he set up three different cameras in both inside and outside of his hotel room. including one that was lodged inside the people of his hotel room door. the shooting. showing first responders rushing towards a hail of gunfire risking their own lives as the crazed gunman fired down upon the concertgoers. it lasted for nearly 11 minutes. present trump and the first lady meeting with first responders. all of this as a foxbusiness is in vegas. the fbi is talking to the one person who knows about the day-to-day life of the vegas shooter stephen paddock. the fbi is talking to him
270 miles from here. the big question they want answer is motive. why did he do this. did he they know about the attack before it happen. did happened. did she know about the arsenal of guns. why did she travel to the philippines. the fbi used law enforcement tools to track her down. in both japan and the philippines in was able to track her movements. we're getting more information about danley. right after news of the shooting broke that she have a clean conscience. mary lou wasn't planning to go to the philippines until her boyfriend said he bought her a cheap ticket and sent her away at the last minute trip didn't raise enough red flags because she did not tell the police anything before she left.
>> so he could plan what he was planning without interruptions. no one except mary lou police are working their way through 67 videos from police body cans in the fbi still processing all of his electronics. so far that review is still ongoing and they still have not discovered anything in those devices at that point to a concrete motive. so far marilou danley remains a person of interest. she is cooperating but no word yet on where she will stay as the investigation continues. her home remains a crime scene and behind me you can see the scene of the crime no word on where she will stay while the
investigation continues. and still no idea yet on what the possible motive could be. we appreciate that. let's change gears a bit now. the senate budget committee is marking up the budget the house of representatives is debating that budget the budget framework to deal with tax reform. the house house votes on that framework tomorrow. a lot to talk about. he is rushing back to continue that debate right after this. we appreciate you taking the time. listen, can we get substantial tax reform without blowing up the deficit. you know that is can be one of the criticisms. i believe that we can and the first step is passing this budget. this is a good conservative budget that outlines the gop conservative values and for
the first time in more than two decades we took a big swipe at mandatory spending. and yes we will get to great tax reform without blowing up the deficit. this is a taxi from text from plan that grows our economy and as great news for america. from what i understand the senate has left room to increase the deficit by much as one and head trillion dollars over the next ten years how are you going to reconcile the house budget with the senate budget which is so different. >> the first of may had to had to do was pass the house budget. we are going to fight for the most conservative budget that we can. that holds the line on spending and begins to take a real reform to the mandatory spending. we think we could do that. we think we can hold the line up. there is a tremendous amount of work into our budget. let me talk a little bit about the tax reform.
they are reconsidering their stand of the state and local tax deduction in the doing away of that. maybe they will back off of that because there are a lot of lawmakers from the liberal states you don't like that because they get a huge break from those deductions. is that gop to your mind going to be backing off of that particular item. i think we are committed to making sure that we get real middle-class tax relief that doesn't put money back in the pockets of so many americans. most of them in the way it is written now argued as the significant relief even with the elimination of the state and local tax deduction. we had been in meetings we certainly understand what has around the country. they are continuing to work. we do have some room to work.
i had been really impressed. how they are responding to concerns. i think ultimately we will be in good shape on this issue and i think you will see a reduction in taxes for americans across the board. thank you very much for joining us. we will go now listening to the president and talking about that. they just threw people out of the carbs -- cards. there were a really a lot of stories of great heroism. the las vegas metropolitan and what they did you guys really proved it. he was a sick and demented man. i have not been able to find out anything else. we've a couple of good leads and were working our way
through that. we will get the answer. again, i will say a few words. i just wanted to say congratulate you. everyone in this room knows us. i'm even more of a fan now. but you showed the world in the world is watching. use showed what professionalism is all about. something like that could take place for hours and hours and you can't figure it out. you should be very proud. officer hancock there at the end he was the first swat officer to engage. officer morris and they were
the two officers that were in partner with that. they did a great job. it doesn't work. [indiscernible] everyone else was behind the press there. we are in the goal of saving numerous lives. the gentleman right to your left. i think is important you did know and every single person in here was instrumental in the lifesaving measures. they're probably the most important people in the room. if you ever have the
opportunity to listen to the radio tracking's these young ladies are amazing. [indiscernible] >> we are listening to the president of the law enforcement members who were directly involved in sunday night's shooting. he was praising them for the great heroism he said you showed the world what professionalism is and it's all about. he is a sick and demented man. we don't know any more about this guy. we have a couple of good leads. we will get to the bottom of it.
the president in las vegas. he met earlier was some of the victims of the shooting from sunday night and also the doctors that were there to respond to the emergency of the mass shooting. they are meeting their in las vegas. we will bring any more comments that he has to make. let's take a look at the markets. they are looking for the third straight record closing. another record day. also touching a record high. they will tell us why we shouldn't be worried about a scary october. this market nothing seems to worry. hurricane maria wiping out puerto rico's already shoddy for structure but is he ready to wipe out $72 billion of the nation's debt. we have wall street reaction in and the countdown is coming right back.
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the national average sitting right around 253 per gallon. that by the way is about 15% higher than a year ago. a big automaker. will gas eventually become obsolete. get right to the floor show. i guess we should go to the ninemac first. we've been talking about oil. the use up four times more than we thought they would. we have less around. it finished down i believe on the day. just around that. my net action today. they had been saying that for a while in the last couple of
weeks. i'm going to guarantee you when it comes down a little more they will not come down as much or at all. it takes about five or six years to bring on a gasoline refinery. that peak gasoline usage is going to be about 2024. why would you build a new refinery. they are going to continue to outperform oil in the long run and i think we are to continue to see that for the rest of the year. >> let's get to teddy weisberg. october by the way has seen some of the worst crashes. i'm not suggesting you were there when it happened. 1987.
it doesn't matter what month it is or if these markets continue to melt upwards. are you amazed at how high they continue to go especially since last year's election. i think what makes people scratch their heads is the ten months since the election. and yes you are right. i was here and 87 maybe the scariest ever on the trading floor. and even 73-74. over the longer term. in terms of where we are today. a lot of folks are telling us that the markets are overpriced.
you can't talk markets down. markets will do what they will do. and i will remind all of the viewers that there is nothing more bearish. those folks that are sitting on a lot of cash he doesn't usually accommodate that kind of thought. this economy really starting to chill and get going. and some of the growth agenda and place. who knows where the markets can go. if you look at the month of october they're going to get a pass.
the big event that will happen in october is that we will get a fed chair nominee and that will set the tone for 200018 because the markets are very up in the air and very common. as to what they get to do well had to leave it there. thank you so much for chatting with us today on another day of records on the market. you have all of this cash you are kind of hoping that it comes down. ge liking with charlie gasp renounce reports. on the power moves with the industrial giant. and now another story that charlie has been on top of. causing major waves today. conservatives conservatives by surprise. an idea of wiping out the debt obligations in the wake of hurricane maria. they told them out of the question. in 72 billion dollars in debt
is there anyway that this could morph into a backdoor bailout. there is no consideration being given to any federal bailout. that was two years ago. up next charles gasparino has new details. in response to that debt comment. charlie breaks it next on countdown. at fidelity, trades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
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with the possible wipeout. the white house today walking back the president's comments. the bosses remarks were an applet to indication of the bomb situation. he is his been tracking the puerto rican debt crisis not a pretty picture. but you made the decision you did not suggest a bailout. it should be wiped out. goldman sachs really isn't the biggest holder of puerto rican debt. hedge funds on it. 40% is owned by a retail investor. and long-term investments. because it is triple tax free. you are you're going to hit a lot of average people here. if you can wipe them out. just don't pay them. puerto rico probably won't be old to come back to the markets for a long time. they are down to 32 cents on the dollar.
let me just read some of these that i got. the bondholders are huddling right now. to come to some determination on what they meant by wipeout bondholders. the geo bonds in the most secure bond there is there. there is a whole bunch of other classes. it is the most secure part. that's not great to 29 cents on the dollar. when it hit 29 cents on the dollar started to move out. there are some bottom fishing that occurred on this optimism. the bailout money will be given to puerto rico. in the billions. also because of the storm. donald trump and that's what the vetting this. they will have very little authority once the bailout
money gets floated to the island. should we have a sympathy to the bondholders. that doesn't mean all of these bond holders are going to get repaid. the fact that is trading at 322 cents on the dollar means a lot of them believe they are going to get paid. here is the conundrum and the problem and the federal government literally takes over the finances of the island. if you step bond holders totally if you don't pay them back you get repaid in the end with them not buying the bonds. people talk about how argentina was able to retype the market. a little bit different situation. those were all bonds that
argentina defaulted on. i believe the air 30 year bonds. but they are long-term bonds. they issued it in 2014. when the issue to the government came out with a statement where they said we are not greece. what i can school -- screw over the bondholders. you screw the bondholders. long-term is can hurt you. they won't trust you in the market. there is two stories here. the fiscal situation in puerto rico. here is one other interesting
aspect. this affected the stock of fannie mae. people buying the stock of fannie mae think that they will get repaid that it will flow back into fannie mae. that the shareholders go out. the government will believe shareholder rights prevail. they get more protection. that's right people owning a fannie mae stock which is an analogy situation. i'm sure you can continue to follow the story but who knows. let's take care of the markets really quickly. there up 15 points. the s&p also up. there also up just about a point at 65 dirty too. the market just keep going up. they are expected to speak in las vegas. in the wake of the shooting
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we are waiting for president trump to speak at the command center after meeting in this hour. the victims and first responders at the deadliest shooting. let's bring in while we wait. the metro pd and the former nassau county police officer. randy let me get to you first. there is no doubt even though we don't have a motive yet on what stephen paddock was doing. we do know that he very
carefully picked the location of a suite at the mandalay bay. the weapons he used in the cameras he set up. in the hallway outside. for the suggestion of this. he put an awful lot of planning into it. there's no way that this individual just snapped. it was a very long planned event. between purchasing the weapons and having them modified or been developed into a fully automatic planning. he possibly tried to do this about a month ago but this was definitely plea -- preplanned and i think that the only way you can determine that is through his medication. and only through that and through the strong investigation into the people
that know him best. let me bring you in. here is an individual who was in this hotel for many days prior to the shooting there was 20 or 30 weapons in the room. it's remarkable to know that no one knew that. does this change the way hotels handle security going forward. >> it will be difficult for them because what we don't want to do is react to this in a paranoid of fashion. the interesting part is the housekeeping and ever entertain. number one and if they did they have a sign going forward that they may require a little bit more scrutiny. >> what about scanning of luggage. they do that in some european hotels now. is that something you can see being done. i'm sure they will entertain everything. the thing that people have to
understand about these weapons they are easily broken down. they basically hinge together what we referred to as pushpins. and once you remove these pushpins the upper part of the weapon detaches from the lower part of the weapons which is known as a receiver in and out represent half the size that they normally would represent an full configuration. you can put them in the suitcase and no one would ever know what was in your suitcase. there's a little information that needs to be passed along to the public as to what exactly transpired here. i don't want us to take on the perception that the hotel was remiss in any way. to be mindful of this. is a gun culture in nevada. the fact that they have more than ten or 20 guns is not that uncommon. it's not really a gun culture. the western united western united states are gun cultures.
they keep making reference to the number of weapons it has no relevancy. the relevancy here lies in the mental state of mind the fact that they talk today we still do not have a mechanism in place to prevent people that are required for the firearms. it includes but is not limited to minnesota multiphasic screen. the average person in some of these more liberal estates can walk in with her drivers license and walk out with the exact same weapons that are in the hands of our tactical units. that is a flaw in this every single one of the mass murders or assaults. those with knives and automobiles. we need to be more intelligent in our approach to how we are going to problem solve. this was an outdoor concert.
it is a wide open. and the kind of a society that we head in the west we are very vulnerable at any given time. is anything you can really do to prevent something like this? >> that is a 64,000-dollar question right there. in the reality is no. this is the quintessential soft target. thousands and thousands of people who packed into a very small area and this individual who is murdered all of these good people he planned this. he have a field of fire that was textbook. he chose an elevated position. that gave him they gave him the advantage to maximize his deadly rain of bullets on the people and one thing i want to touch on this is concerning bringing those weapons in gift remember las vegas is the
convention center of the world. and very often at these conventions people bring in huge suitcases they can pack into a lot of stuff. it would not even raise an eyebrow because that is the norm. he could've put these weapons into just about anything and transported them at their without raising an eyebrow. the more you get into this and of course at some point the motive will be white. he was able to do what he did and reek the kind of havoc that he was able to do. gun control we've been getting a lot of that of course. would that have been set vented something like that. the thing i would like to say is that i support the second
amendment. but i do not support the distribution and the irresponsible manner of firearms in this country. this country has changed and we need to change. we need to adopt a different mentality and try to compromise on the situations and the subjects that we are so polarized on. i do want to say one thing there is a way and there are mechanisms that we can put in place to put outside venues such as this one. i put on and staged security for every major event that was taken taking place in this country which includes the older gloves, the academy awards, world cup games what you need to do now is go into each environment and make an assessment of the environment. identify the exposures and weaknesses and took in place.
they pointed out something very important. this individual held the high ground. once you hold the high ground you control the streets. we need to do going forward especially with these events that are occurring outdoors is make sure that we control the high ground and we have the vantage point. >> what about new year's eve absolutely. and when the united nations general assembly is in town or the president of the united states or any foreign leader with extreme threat level we have high point man in place throughout the city of new york and in particular i had been in times square with cnn and abc to record some moments. we control the high ground and that's essential in protecting the people in the street because i do want to give comfort if nothing else the individuals that are on sniper teams these men and women train at thousand meters plus. they are capable of neutralizing any threat in the crowd surgically and tragically asking to be that is can be our new norm here. i don't think gun control in this instance would have necessarily prevented this occurrence but it's clear that we need to entertain a mechanism that will no longer permit people who are mentally
defective from acquiring these weapons. it's very simple. they implement arts with law enforcement. what we need to do is get into a mode of compromise and reach of crossan and across an nra and asked him to become part of the solution not to remain part of the problem. it is a polarizing topic. very quickly as we wait for the present, how feasible is it that the mental competent issue and allowing people to get guns some can seem very normal and has a defect that comes out later. that is not an uncommon thing at all. i just don't to go be logistically possible to give psychological test to everybody that spied a weapon. there is a huge mental illness issue.
that has been ignored in the various states. when law enforcement contacts someone who has a mental issue they bring them to an emergency room and they tried to get him some help. these are the same people that are going out and purchasing weapons or obtaining them illegally and then using them in the matters that we have seen. isis was claiming that this was a soldier movement. do you worry they will get famous by doing the same thing. someone is sitting in the room right now.
i have an experience in manhattan, beach california. what issue concealed weapons. providing you complied with the mandate. they pick out personality defense. after that criminal history and then qualification with the firearm and then an interview. and i was in every two years for the duration of the permit and required upon renewal. i do know firsthand that it can be implement it. what has to be done perhaps on a case-by-case basis. if we are working -- looking for the federal government to come in and create this environment or atmosphere. i think that as an unreasonable expectation. to go to each jurisdiction whether it's a city of new york, the county of nassau manhattan beach.
the county of los angeles and until they are issuing that. this is what you must do going forward. this whole discussion about people's rights to own firearms is driven by a federal argument wrapped around the second amendment. the federal government should establish a mandate that is enforced on a local level i can be done. i actually experienced it. this is can happen again. the thing is interested about this. because of the scope we would have glossed over this. the shootings are no longer something that we refer to as an anomaly. they are commonplace. the body count made this an anomaly.
they know the mechanisms to put in place. to protect these venues. i was involved in it. i did in the golden globes post 911. we held the high ground. we also put in technology in the form of magnetometer. a number of other mechanisms to create a safe environment. as we are watching the governors. as a former lieutenant with the las vegas pd how proud are you of the las vegas police department and how it handled the situation? >> i cannot be more proud. the men and women of metro really stood up to this occasion many were not even working when they heard about this taking place. i talked to one sergeant who heard about it on the news grabbed his uniform and went to the scene. a number of the stories are coming out. besides that the courage in
the incredible compassion shown by off-duty police officers and firefighters who were in the crowd when this took place as well as just common citizens there is can be a legend of these men and women some of who gave their lives in the service of others which includes one of our officers. he gave his life even though he was off-duty attending this concert by train to help others. this is what makes me so proud. it's always amazing. we saw this during hurricane harvey. how civilians come to the front end act heroically. we saw this again in the shooting. they did whatever selfish -- selfless thing.
that's when i think the american spirit really comes through. maybe you can speak to that as well. i'm working i can't talk yet we use this for his and niter for the american people. this tragedy the incredible loss of life cannot have happened in vain we as americans democrats, republicans, white people, black people hispanic people this is the time that we need to come together this is when we need to unite and become what america should be. quickly this is a speculation but what about the girlfriend she's not been talked to by the fbi we talk about not having a motive. maybe she could be the key the interview was key. the fbi is hopeful that they
will be able to shed some light as to his mindset and his concerns. in the triggers. they're also going to try to determine if she was complicit in any way. they which -- they witnessed that. she is a key part of this equation right now. the fbi which is probably the most competent fbi arm on this. in directions where we need that. that is what this all revolves around. what was his thought process. >> we are out of time. thank you so much. the president is now meeting there. after speaking with first responders. let's go to the president now at the podium. >> we really appreciate that. i will type the people of nevada in the extraordinary
city has shown the world their incredible character encourage and resolve. it's really a special place. i am honored to be here today at the las vegas metropolitan police department. in the company of heroes. thank you to the police and firefighters into our first responders it of course to sheriff lombardo incredible job you too. >> senator heller. majority leader kevin mccarthy , adam lacks all. all of the great congressman congressmen that we head with us today. from both parties we are
honored that you could be with us. on behalf of the grateful nation. we thank each and everyone of you in law enforcement in the depths of poor we will always find hope in the men and women who risk their lives for hours the mass murder that took place on sunday night sells fills america's heart with grief america is truly a nation in mourning. i believe -- i visited the hospitals earlier today where many victims are still recovering and we ask god to ease their suffering into speed their healing. we pray for the recovery of injured and those injured officers. who so bravely threw themselves into danger when dirty -- when duty called. we grieve the loss of the law enforcement personnel who were
killed in this vicious attack. many families tonight will go to bed in a world that is suddenly empty the people they severely left were torn away from them forever our souls are stricken with grief for every american who lost a husband or a wife a mother or a father a son or a daughter we know that your sorrow feels endless and we stand together to help you carry your pain. you are not alone we will never leave your side. here at the police department we remember one of our own who died this week charles heartfelt he was a very special person officer heartfelt was a proud veteran
a devoted husband his death is a tragic loss for this police force in the city in for our great nation. we struggle for the words to explain to our children how evil can exist and how there can be set -- such cruelty and suffering. we cannot be defined by the evil . we are defined by our love are carried and our courage. in the darkest moments what shines most brightly is the goodness that thrives in the hearts of our people and that goodness is our lighthouse and our solace has knowledge that the souls of those who passed are now at peace in heaven here on earth we are blessed
to be surrounded by heroes as one eyewitness recounted this week while everyone else was crouching police officers were sitting up as targets just trying to elect you -- until you were to go. the officers were sitting up in the line of fire to help those in danger and to find out where those horrible shots were coming from. words cannot describe the bravery that the whole world witnessed on sunday night americans defied death and hatred with love and with courage. when the word in the worst of humanity strikes and strike it