Skip to main content

tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 13, 2018 3:00pm-4:00pm EDT

3:00 pm
with on a friday going into the weekend. you can learn more about buckets of love by going to, or you can go to jefferson have a wonderful weekend. gosh, we're off 103, liz. liz: yeah. in fact, we're watching this closely here because the low of the session would be a loss, folks, of 147. so we're heading back down on this -- i know, don't get mad on me for saying it -- friday the 13th. heading into this final hour of trade, investors hit by the jitters, seemingly frightened to take a position heading into the weekend with the dow down, as trish mentioned, about 109 points right now. it may not be just superstition. there is a very real reason for concern as president trump and his allies inch closer to a military strike in syria. reports say the leaders of france and the u.k. are in agreement that syria should be punished for using chemical weapons for the second time in a year against its own citizens.
3:01 pm
as of right now, five u.s. naval ships have gathered in the region armed with missiles. former naval captain chuck nash is joining us in just a moment. top of the show for the threat analysis. china braced for impact. the trump administration drawing up a new list of chinese imports that he will target, but the first tariffs on steel and aluminum -- remember those in march? -- starting to hurt companies. one in particular, north carolina's howard steel. its president is here exclusively to tell us how his small business is feeling the pinch. and, by the way, he doesn't even buy chinese steel. he buys u.s. steel. plus, should you really delete your facebook page to protect your privacy? meet one former counterterrorism officer who says it's probably a good first step. he will tell us exclusively why everybody needs to beware of data predators and why stocks you may own might be hit by
3:02 pm
those predators. wall street losing air, s&p down 8 points, the nasdaq down by 30. don't worry about this friday the 13th thing. we've got your back. let's start the "countdown." 9. ♪ ♪ liz: okay, now we're down 139 points. we have this breaking news just in, house speaker paul ryan has endorsed majority leader kevin mccarthy to be his successor. nbc releasing a clip of a taped interview on "meet the press" to air on sunday where apparently ryan says, quote, we all think kevin is the right person. kevin mccarthy, of course, of california. this wouldn't be a huge surprise. however, the fact that kevin ryan is saying -- that speaker ryan is saying that kevin mccarthy is the guy is certainly newsworthy. wall street painted red on this kind of freaky friday the 13th. financials are really what's weighing on the broader markets. financials are currently one of
3:03 pm
the worst performers on the s&p 500. we do have the s&p spider financial etf down one and to-thirds. please don't read more into this red on the screen here. jpmorgan, wells fargo and citigroup are taking a hit despite beating first quarters estimates. especially jpmorgan looked particularly strong, right now down 3, wells fargo down 3.5%. once investors did a deeper dive underwater, you know, once they saw they weren't exactly impressed with the loan growth posted by the banking giants. investors were expecting stronger quarterly numbers in light of the recent tax rates and higher interest rates. jamie dimon said, look, it's going to take a while to work through the system. so right now jpmorgan is -- along with wells fargo -- the worst hurt here. while financials are being punished, the energy sector is surging, stocks getting a boost
3:04 pm
as oil prices rally to the highest level in more than three years. crude oil posting its best week since july of 2017, up 9% for the week. and as you are look at some of the individual names in the sector, apache, marathon, everybody's moving higher here. and any tension in the middle east tends to juice up these prices of these stocks. boeing, boeing's grounded at this hour, currently one of the worst performers, down two and three-quarters percent, the industrial giant falling after russian lawmakers proposed a draft of u.s. imports that could be banned in russia in response to the latest u.s. sanctions on ole backers, on russian billionaires -- oligarchings. boeing saying it's still studying the possible impact of what the company calls, quote, anti-american legislation proposal. russia's not the only one playing the trade tariff game.
3:05 pm
president trump said yesterday let's revisit the trans-pacific partnership agreement with 11, many of them asian, nations. he was, of course, the first one to kill it in the first month in office. but next week we're expecting perhaps a much more dramatic trade tariff headline. the treasury department is formulating bans on chinese investment in u.s. technology companies whether it be through acquisitions, joint ventures, investments, and these bans could be permanent. "the wall street journal" reports that the white house is planning to escalate trade pressure on china, more than it already has so far, but also detailing exactly which products are on that list of $100 billion in products that the president said will be subject to tariffs. so all this trade action may very well move the markets come monday, so which portfolio moves should you really be making now before you head home for the weekend? to the floor show. guys, we're talking trades on trade. what are your trades on the
3:06 pm
trade talk? tim? >> well, first of all, i just gotta say i think the -- so much of the trade over a potential tariff tantrum just gets way overplayed in the market. we saw that last friday with the extreme move to the downside. the market recovered almost all of that this week. but if you want to avoid some of the volatility that the trade headlines create, you probably want to avoid the big exporting names, some of the hiv equipment stops -- heavy equipment stocks, the farm manufacturers -- liz: can i just jump in there? the bar manufacturers are now complaining that they're getting hit by the steel tariffs. so there are, there are sort of arrows flying from all different directions, are there not, timsome. >> it certainly has the potential for that, but, you know, i just think it's way too early in the process to make an
3:07 pm
investment decision on what stocks or what sectors to overweight or underweight based on trade. because we're months from final decisions. liz: yeah. i know, but grain storage bins -- i know, it's a weird thing -- but they are made of steel. already they've started raising their prices because of the cost of steel. phil, we're looking at oil that had a really nice move this week, 9% to the upside. what do you expect here? >> i still think we could go higher because it's not only about the geopolitical risk. the geopolitical risk may have lit the fuse, but this is a market that's been waiting to explode for some time. we got a report today from the international energy agency, for example, that basically came out and said, hey, opec, mission accomplished. [laughter] if you keep this up, we're going to have a very tight oil market. and i think the world's realizing that. when it comes to tariffs, even if they put tariffs on everything in the world, the world's still going to need energy at least over the weekend
3:08 pm
i think you want to be long energy. you may want to be short stocks, you know, because of the trade concerns. i don't think it's a long-term play for the short stock market, but i do think that those tariff fears, rising oil prices may scare the stock traders at least beginning next week. liz: yeah. and our u.s. oil recount went up this week by five just as, i love it, ie aukes says mission accomplished -- iea says mission accomplished, opec. chris, what's your trade on trade? >> trade on trade is i want to do a contrarian trade. everybody's expecting the worse, so i'm looking to be long the dollar on a rebound the other way. the only thing i would want to protect though and look for a possible correction if china does come back, if we have another salvo and they come back with either higher tariffs or, god forbid, an embargo, that could really move the soybean sector. so i would be protecting soybean
3:09 pm
prices at these prices or looking to buy puts because that's probably going to be the first knee-jerk reaction. we saw that last week. we had a big correction. we've got it all back, so now the set-up is for if china comes at us again, i could see that happening again. liz: okay. gentlemen, while we've been talking, just eight minutes ago i said that the low of the session for the dow was a loss of 147? the new low is down 170 plus, we're down 154. we're bouncing around a lot here in these final let's call it 51 minutes of trade. i need everybody to stay with me, watch it. our thanks to our traders. we'll bring them back if things start to deteriorate or come back closer to the flatline. maybe we see some green on the screen. aside from trade war risks, there is this: the risk of going into the weekend long stocks when the threat of military action in syria kind of has been hanging around like the sword of damocles about to fall. the state department briefing is taking place right now. this is a live picture of
3:10 pm
heather nauer, the spokesperson, and she's talking about the issue of syria's use of chemical weapons front and center. listen. >> we know for a fact that it was a chemical weapon, we know that there are only certain countries like syria that have those delivery mechanisms and those kinds of weapons. liz: and blood and urine samples from the victims show nerve agent and chlorine. in their blood. at this very moment, the u.s. has amassed the largest air and naval strike force in the region since the 2003 iraq war. specific create, there are -- specifically, there are now four u.s. destroyers armed with400 tomahawk missiles, so we thought let's bring in retired u.s. navy captain chuck nash, joins us now. can you give us a comparison to previous engagements in the past when it comes to that number of ships and missiles? >> sure, liz. nice to be with you on a friday. here's what's lining up right
3:11 pm
now. the harry s. truman carrier strike group departed norfolk today. she's leaving with six ships including the harry s. truman and the air wing. they're going to join six other ships -- four surface and two submarines that are already in theater -- you now have a strike group of 12 warships which is the largest deployment that the navy's had since the last iraq war. liz: sounds like a lot. can you give us some clarity on the number of missiles? 400? and then i believe another 300 missiles are coming in on the harry truman, right? >> absolutely. you know, you start flowing in all of these tomahawk cruise missiles plus with the carrier air wing, and then you add in the shore-based assets that are already in theater. the air force has a president in qatar, there are british to have mad does in cyprus.
3:12 pm
so there have been all oaf these aircraft -- all of these aircrafts that have been conducting strikes against isis, and now you're being joined by the -- liz: put us in the room on a three-way call, what would you guess is about to happen and when? >> i think what they're probably going to look at is we sent him a message last time, we gotta put the hammer down this time because, obviously, he didn't get it. so he's going to have to see something that really hurts him badly. the russians sortied all of their ships out of the syrian port yesterday to get clear of this mess. they're talking tough. the turks are saying that we're steaming toward world war iii. the russians were told yesterday, they told their citizens to prepare for world war iii. all of this rhetoric, i think, is trying to be set up to back down the leadership that you
3:13 pm
just mentioned. they're not going to back down because this is now at a point where he did it in absolute defiance of international norms and after he was given a serious message. this tame i think they're going to go -- this time i think they're going to go after command and control structure. they won't target him, although there are press reports that he's hiding out in a bunker like saddam hussein did on the eve of the first gulf war. liz: why -- >> yeah, go ahead. liz: why don't the allies make like the israelis did in the war in 1967, the six-day war, where they flew in, surprise attack, bombed every single egyptian aircraft sitting on ground in cairo, total surprise, they also destroyed the syrian and jordanian aircraft from their air force, game over. message sent. >> that could be done except this time it's not egyptians
3:14 pm
manning russian equipment, it's russian technicians and syrians manning very, very capable surface-to-air weapons systems in syria. so the calculus has to be will the russians shoot. the russians, putin has already said they're going to shoot down any cruise missiles that come in. would he dare shoot down manned american aircraft, that's the question. liz: captain chuck nash, thank you so much on this friday for giving us a sense. i don't know if you were hearing us say, the markets are down, and we're starting to guess it's more the syria question at the moment than the trade question. but also you bring in to the point that the financials are down because they've been up most of the week. so let's get back to the trade part of this one. president trump imposed steel tariffs last month. economists warned this could be bush's steel deal part two. with the closing bell ringing in 46 minutes, president george w. bush back in the day took a shot on raising tariffs on chinese
3:15 pm
steel, and millions of american jobs evaporated. the trump administration says its steel tariffs will be and are different. up next, a longtime other than of a metal fabrication company squarely in trump company says we're repeating history already. and facebook is right, frustrations over facebook's data flub starting to subside and will not impact the company's stock. but is america too casual about investing in big tech, much of which may be abusing all of our personal data? the former national counterterrorism center official who says beware the predators. "countdown" coming right back. ♪ ♪
3:16 pm
but i'm not standing still... and with godaddy, i've made my ideas real. ♪ ♪ i made my own way, now it's time to make yours. ♪ ♪ everything is working, working, just like it should ♪
3:17 pm
3:18 pm
retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. this wi-fi is fast. i know! i know! i know! i know! when did brian move back in?
3:19 pm
brian's back? he doesn't get my room. he's only going to be here for like a week. like a month, tops. oh boy. wi-fi fast enough for the whole family is simple, easy, awesome. in many cultures, young men would stay with their families until their 40's. ♪ ♪ liz: who is the next shoe, what company's the next shoe to fall? where should investors be looking or cowering themselves? >> i think the next company that should be in the hot seat are going to be google's youtube division and either twitter or reddit. liz: that was yesterday on the show predicting that both twitter and google's youtube could be the next major tech companies to perhaps be hauled in front of congress in the wake of facebook's data privacy scandal. shares of both companies moving lower today. twitter not so much, but -- well, actually, percentage --
3:20 pm
[laughter] it's down 1.75%. alphabet facebook -- google, rather, one down two-thirds of a percent. even in the aftermath of facebook's data breach that impacted millions of users, our next guest says facebook users aren't taking the privacy of their data seriously enough, and that must mean that facebook investors aren't either. he even offered a how-to book, beware the predator: the americans' guide to personal security. joining us now, dave white. dave, business network talk here. facebook said, and it appears they're right, this will not meaningfully impact our stock or our numbers or our business. what do you say? >> well, i say that consumer awareness is pretty low, that's one of the issues that comes with it. the terms and agreements, the terms and conditions, that part of it people just don't read what they're signing up for. so facebook is getting a pass on that at this point.
3:21 pm
liz: well, what's interesting though is the reaction to facebook -- and we watched the stocking go higher as mark zuckerberg, the ceo, answered ten hours, two days of questions. today it's up slightly, you could call it flat, but it has not taken a massive dent here. when you look at say, for example, equifax, back on september 7th. what a disaster. they have everybody's credit information. they had their data compromised, which means millions of us had our data compromised, and that stock down nearly 19% since that disaster. why isn't facebook, aside from they're just not aware, people just aren't aware, investors sure are. why isn't facebook getting the same stock reaction? >> well, it's interesting. i think it really does come back to the consumer. they just don't know what they've signed up for. so they call it the privacy paradox. and that's where people basically give their data away. they give their information out freely, but yet they expect to
3:22 pm
have privacy. and in this case, facebook has got a platform that users enjoy using for all the good reasons that mark zuckerberg said. but at the same time, what exactly are they giving? if you download your archive, you'll see that they've got quite a bit of data. and there was an article that was in "the wall street journal" yesterday, i believe, and the writer went ahead and said that he was really astounded -- liz: they had everything. >> it had everything. had his exes, all his phone contacts and everything. so the point with my personal peeve is with messenger. because when you put that on your phone, they've got access to everything you have, your contacts, your e-mails, your photos. liz: well, what about what raj is saying, that twitter and perhaps google through youtube will be the next to be dinged by this? >> so i don't know if they'll be dinged by it, but with what i would say is, is that this problem is much broader than facebook. it's not a facebook-only
3:23 pm
problem. you're look at basically data that is is being collected becae we allow it to be collected, and it's across basically every device that you would use. so people just need to be aware of what they're buying and what the ramifications are. liz: okay. well, dave, that's what you and your book, beware the predator, do. thank you very much. we appreciate the warning. >> well, ward holston is the brains behind it. i will tell you i was happy to be part of the project, and we hope to raise consumer awareness. liz: well, you're doing it right now. thank you so much. >> thank you very much. liz: big oil on the rise. what big oil? well, how about exxonmobil and chevron? they're among the dow 30 leaders right now. they're in decent positions here with the final 37 minutes of trade left. both getting their target price raised by credit suisse, exxon to $87 -- right now it's at $77.
3:24 pm
chevron to 129, right now it's at 119. up next, elon musk blasts the tesla shorts, and one major financial magazine. we'll tell you which one, next. ♪ ♪ ients, without the constraints imposed by the traditional brokerage houses. transparency in the way we're compensated. our philosophy is one of service, not sales... that's why i'm independent. charles schwab is proud to support more independent financial advisors and their clients than anyone else. visit ... ♪
3:25 pm
most people come to la with big dreams. ♪ we came with big appetites. with expedia, you could book a flight, hotel, car, and activity all in one place. ♪
3:26 pm
3:27 pm
3:28 pm
liz: okay, it's getting a little worse, here, for the bull certainly we do now have the dow jones industrials down 209 points the s&p lower by 15, nasdac down 56. when specifically on the dow three names, pretty much representing more than 65% of the dow's losses here goldman sachs, boeing and jpmorgan, two financials and of course boeing because russia says maybe we're going to slap tariffs on boeing equipment so listen we're watching all of it for you at the moment it's not a great picture, but we need to show tesla because apparently there's a better picture if you listen to the ceo don't throw shade at
3:29 pm
tesla or you might find yourself on the receiving end of ceo elon musk's wrath after the economist ran an article about an analyst 's call on the electric car manufacturer, elon musk tweeted the economist used to be boring but smart with a dry witt. now it's just boring. tesla will be profitable and cash flow positive in the third and fourth quarter so obviously no need to raise money. that's why the stock is looking as good as it is take that tesla shorts let's go to nicole on the floor of the new york stock exchange for our business brief. nicole: well liz elon musk's other companies spacex is now selling private equity at $169 for share placing the company's valuations at almost $24 billion , at this race spacex is now the third highest valued u.s. private company after uber and air b & b. today's the day credit card signatures will be phased out for major u.s. credit card companies, are getting rid of
3:30 pm
the requirements the signatures on in-store purchases and now it's up to the store to decide whether they want to keep them. american express, mastercard, discover, today visa later in the month. and z illow is jumping into the traditional real estate agent business. the on loin listing service will be buying and flipping homes and the stock is dropping as analysts suspect margins will be hurt under the new business and next liz claman hawks to a business owner getting hit from the shrapnel from president trump's steel tariffs. if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have.
3:31 pm
i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig. comcast, building america's largest gig-speed network.
3:32 pm
3:33 pm
now more businesses in more places can afford to dream gig. that's it. i'm calling kohler about their walk-in bath. nah. not gonna happen. my name is ken. how may i help you? hi, i'm calling about kohler's walk-in bath. excellent! happy to help. huh? hold one moment please... [ finger snaps ] hmm. the kohler walk-in bath features an extra-wide opening and a low step-in at three inches, which is 25 to 60% lower than some leading competitors. the bath fills and drains quickly, while the heated seat soothes your back, neck and shoulders. kohler is an expert in bathing, so you can count on a deep soaking experience. are you seeing this? the kohler walk-in bath comes with fully adjustable hydrotherapy jets and our exclusive bubblemassage. everything is installed in as little as a day by a kohler-certified installer. and it's made by kohler- america's leading plumbing brand.
3:34 pm
we need this bath. yes. yes you do. a kohler walk-in bath provides independence with peace of mind. call to save $500 off bath walls with your walk-in bath, or visit for more info. sometimes, they just drop in. obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ liz: we're getting this breaking news in commerce secretary wilbur ross in lima, peru has just said he's optimistic that
3:35 pm
the u.s. will reach a deal in principle on nafta possibly the third week in may. we're keeping our eye on the markets right now because the dow is down 204 sometimes these types of things move the markets , ross just made the comments as i mentioned where he's attending the summit of the americas with vice president mike pence. no word on which stumbling blocks they were able to overcome but when we know we'll let you know. well, we will know next week whose next. that's when the trump adminitration will receive wreck indications from treasury secretary steven mnuchin on which chinese technology companies and products should be slapped with tariffs as tech companies that sell components touchiness companies trade very nervously on your screen, sky works, intel, micron, applied materials, you're looking at the full weight of steel tariffs already in place, beginning to squeeze american businesses, and we thought well let's not just read that. let's find somebody. howard steel is a charlotte- based company that
3:36 pm
manufactures gas lines, structural steel, equipment for job sites and more. howard steel used to pay $0.38 for a pound of raw materials. now it pays $0.58 to $0.68 a pound about a 50% markup. the owner of howard steel, james howard, joins us live from charlotte. welcome, sir. well that's a big slap in the face when you're the one writing the checks, right? tell us exactly what you have felt almost immediately or in the few weeks after the president announced there would be steel tariffs. >> well, it starts out with as soon as they talked about a tariff we were getting price increases and they were rapidly going up and whatever you have one day, three days later even that price had gone up because there was nothing consistent and
3:37 pm
we still haven't reached the apex. i don't nowhere the apex is at. liz: you don't import your steel from china or south korea right? you buy u.s. steel. >> we buy mostly domestic steel we do. liz: well so how was this supposed to work if you were to channel president trump that the united states would start not forcing but keep the cheap dumping of steel from other countries out of our country and that we would have to start using companies like you would have to start using u.s. steel, steel dynamic steel, right? did you expect that they, american companies, would be the ones to jack up prices? >> yes, ma'am i did, because the same thing happened in 2007. it's a repeat. liz: george bush's tariffs correct? >> that was george bush's tariff but there was a little bit different scenario as you
3:38 pm
had mortgage backed securities going on but that thing inflated to almost 400% and when we were paying $0.25 a pound for a raw product they moved it all the way up to like $0.90 a pound in november and then when december and january when it come out with the bank bail out and the other problems, well now you're sitting on gold. you could replace it for $0.25 a pound but you had $0.90 a pound in it and no customers. liz: we're showing some of your operations. this is no small operation you have at howard steel in north carolina and i'm sure you employ how many people, sir can you quickly tell me that? >> 25 or 30 somewhere around there. liz: so you're a small business and just to let our viewers know , it is your company that provided some of the scaffolding
3:39 pm
for the statue of liberty renovation. >> yes. liz: you're an all-american company using all-american steel i just wonder if you had president trump in front of you what would you say to him about imposing tariffs on foreign steel? >> well, i mean, the way i feel about it, in theory it's a good idea but i think, i hate to say this on national tv but sometimes we can be our own worst enemy and let a little bit of greed go through there so every time you get these price increases and the orders are still coming in there well then they just give you another price increase and they just keep -- liz: taking advantage. yeah, just like blowing on the balloon. where is it going to pop, but when it pops, it's a long ways to come back down and you'll have people, if you can imagine, something that cost you a
3:40 pm
thousand dollars and then in three weeks time to come in there it's $1,400 and they get the impression then that it's me and i'm just, you know, a distributer. i'm not the one that's manufacturing it and so it puts a little bit of a facade demand on the steel because what you'll do is you'll hedge. you'll buy more than what you really want just because you don't know how much it's going to be. liz: and by the way if we have this on the screen, reuters had done a whole write up of details that u.s. steel companies typically price, adjust their prices once a year already and it's only april they've hiked their prices four times this year so that actually backs up what your personal experience is and reuters put this headline up , steel tariff shrapnel hits u.s. farmers. would you feel, you're not even a farmer, you're getting hit by some of that shrapnel?
3:41 pm
>> absolutely and they would have a hard time explaining to me what is the difference now and why is it costing that much more to produce the same product that i was buying two months ago for half of the money. liz: how about we invite some of them on next week and we try and ask them for you mr. howard? i think that's important. >> that would be an interesting conservation. liz: we're going to try and do that for you sir. thank you so much for coming on. we're trying to give our viewers different sides of all of this. it's a very painful time for steelworkers but now you see some unintended consequences to you here. good luck to you, sir, thank you >> thank you so much. liz: any time. 19 minutes before the closing bell rings its been an odd friday the 13th at the white house. we have not seen president trump make any public appearances today, but the dow down 171 points, could we see fireworks at the white house in just the next few hours? charlie gasparino has some scoop on what might light the fuses. he breaks it next on countdown.
3:42 pm
♪ ♪ i can do more to lower my a1c. because my body can still make its own insulin. and i take trulicity once a week to activate my body to release it, like it's supposed to. trulicity is not insulin. it comes in a once-weekly, truly easy-to-use pen. and it works 24/7. trulicity is an injection to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. don't use it as the first medicine to treat diabetes, or if you have type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you or your family have medullary thyroid cancer, you're allergic to trulicity, or have multiple endocrine neoplasia syndrome type 2. stop trulicity and call your doctor right away if you have symptoms of a serious allergic reaction, a lump or swelling in your neck, or severe stomach pain. serious side effects may include pancreatitis. taking trulicity with a sulfonylurea or insulin
3:43 pm
increases your low blood sugar risk. common side effects include nausea, diarrhea, vomiting, abdominal pain, and decreased appetite. these can lead to dehydration, which may worsen kidney problems. to help lower my a1c i choose trulicity to activate my within. ask your doctor about once-weekly trulicity.
3:44 pm
weli can tell you streaming the most free tv shows and movies on the go. yeah, and... xfinity internet. it's so fast! and you can save by... by getting up to 5 mobile lines included. whoa, you're good. i'm just getting started. ♪ simple. easy. awesome. come see how you could save $400 or more a year with xfinity mobile. plus ask how to keep your current phone. visit your local xfinity store today.
3:45 pm
ythen you turn 40 ande everything goes. tell me about it. you know, it's made me think, i'm closer to my retirement days than i am my college days. hm. i'm thinking... will i have enough? should i change something? well, you're asking the right questions. i just want to know, am i gonna be okay? i know people who specialize in "am i going to be okay." i like that. you may need glasses though. yeah. schedule a complimentary goal planning session today with td ameritrade.
3:46 pm
liz: could we be headed for friday the 13th massacre? forget saturday night massacre charlie gasparino says he's hearing rumors of a high profile exit in the trump adminitration that could spook some investors come monday morning charlie what is it? charlie: we should point out the sourcing of this and that it's speculation because my twitter feed is just going nuts, if you read my tweets the tweets say it specifically. there is speculation both from my sources in d.c. and gop staffers essential and major trading desks right now that rod rosenstein, the deputy attorney general the guy who appointed robert mueller the special counsel to investigate trump
3:47 pm
russian collusion that he could be ousted, as early as tonight that's what's going on among these gop staffers now we should point out that doesn't mean this is confirmed. i put the question out to the white house, had not heard back and these are not confirming sources so you say why do you report this stuff? well the same reason bloomberg reports traders are talking about warren buffett helping bail out ge. liz: which we've seen not even a trace. charlie: but these types of sources often do have an insight into what's going on. i will tell you this liz, 2012 you and i were here, different time different place but it was right after super superstorm sandy and the same sources were telling me the new york marathon was canceled and they turned out to be 100% right ultimately and we look a lot of flack for reporting it but when it did come true it's obvious why. these traders often have access to information in washington about what's going on to setup their trades, and again,
3:48 pm
speculation not saying it's going to happen and even if trump wants to do it maybe general kelly is telling them not to for a lot of reasons including this could be a real issue but as traders why do theophano care about this? well the markets have been trading off on mueller news as if it's particularly if it's negative involving the president . that's why the traders care about this and i will say this if he does something like this that would be an issue, i think the markets, you know, just based on prior trading and trading patterns and by the way past performance doesn't equal, doesn't signify future gains. i think the markets trade-off on something because this is very destabilizing and it's going to be a political s-storm if this goes down particularly in light of the comey book that just came out today. the back and forth between the president andrew mccabe there's an ig report on andrew mccabe one of the fbi people involved in the mueller probe where it's very critical on the president's tweeting this out. this is a very very volatile
3:49 pm
time in the markets involving politics and wall street and the rosenstein thing would take it to another level that's one reason why i think that somebody inside the white house is going to tell trump and maybe even his lawyer even if you want to do this don't even go there. liz: doesn't steve bannon feel that he should do this? that they should just take it to a republican congress and that will stand by? charlie: i think the president, when you talk to people that know the president he obviously wants to fire him, okay? i just thought tonight it was interesting that this rumor was so widespread. liz: he wants to fire him because rosenstein said he would not fire mueller. charlie: he could not fire mueller but i'm just saying the sourcing of this is interesting. they're not 100% right all the time in this speculation just so you know far from it. they're often right as you know they often have good plugs and tonight this thing is going and it's rampant with gop staffers
3:50 pm
as well. again that doesn't mean it's going to happen. it means we're just reporting the speculation and sometimes you do report speculation. it's worth it to get it out there and let's see what happens liz: okay i'm going to make a hard turn here to bitcoin because you've been reporting very brilliantly on bitcoin. bitcoin is moving higher today but we are just days away from tax day and there are people who bought bitcoin who knows at a thousand and it went up to 20,000 it's still pretty hyatt 8,082 if you bought it low. there are tax implications here that may effect people who have made some money, some cash by trading out bitcoin. charlie: well cash, it's simple. you make money on a stock, right liz: it's a capital gain. charlie: it's a capital gain so there are pretty big capital gains here. listen i know a lot of people that bought it at like almost nothing and sold it at 20. they knew once it hit that 19, 500 in that area they just knew it was the top before it came off the market and also knew there was fraud involved in it
3:51 pm
or a significant degree of fraud which is what we reported earlier in the week involving the sec's crackdown. i just think it's interesting that the perverse reaction happened based on our reporting. the bitcoin went up in value, because investors said oh, god it's going to be great that the sec gets out some of the bad actors and as in terms of -- liz: but you got to pay the tax. charlie: but in terms of cryptocurrency there are others floating around right? bitcoin is the someone people are gravitating to. we'll see what happens. i'm not saying it's going to happen. please don't quote me i'm just telling you what the street is speculating what they're saying in washington. not saying it's confirmed, far from it. liz: charlie, thank you. tgif. tgi friday the 13th closing bell ringing in nine minutes, or maybe not thank god it's friday the 13th. its historically been an under performing day for the s&p which
3:52 pm
is down seven points right now. will the trend continue or are the black cats out to scare us all? countdown closer next with what to do with your portfolio if anything. alerts -- wouldn't you like one from the market when it might be time to buy or sell? with fidelity's real-time analytics, you'll get clear, actionable alerts about potential investment opportunities in real time. fidelity. open an account today.
3:53 pm
3:54 pm
fidelity. a cockroach can survive heresubmerged ttle guy. underwater for 30 minutes. wow. yeah. not getting in today. terminix. defenders of home.
3:55 pm
liz: see now, i told you to stay with us. we have just cut our losses in half at the moment, so while we were down more than 200 we're now down about 125, s&p is still in the red, the dow is staging somewhat of this comeback in the final minutes of trade and again really the ones that are all dragging us down are the same as they were 29 minutes ago when i told you it was jpmorgan, goldman sachs and boeing. for the week, we're still looking at a solid win let's get to nicole. nicole: liz that's right so we're seeing some down arrows here, but for the week we see the major market averages higher across-the-board. the dow, the nasdac and the s&p all higher and we're looking at
3:56 pm
some of the best performers of the week. intel is one of the best performers. i know it's pulling back 1.6% but it is the second best performer on the dow jones industrial average of the dow 30 , merck, intel, cisco, caterpillar, those are your winners, turn the arrows around for the week and that would be home depot, wal-mart, travelers, and nike and the traders watching 2,660 on the s&p but certainly doesn't look like we're holding that right now it's 2,655 back to you. liz: not quite there. nicole, you know what triska pho bia is right the fear of the number 13? nicole: yes. liz: people are screaming around here. how about friga? that's the fear of friday the 13th. a know a lot of people on the floor have that of course friday the 13th is today history shows it may be a day investors should fear the s&p 500. data shows that the s&p 500 underperforms on friday the 13th
3:57 pm
compared to all other fridays during the year. it has returns of what would equate to about 4.2% per year on friday the 13th. the rest of the friday would be 13% annualized returns. what do we have to fear and let's invest through that fear and bring in hank smith chief investment officer. get me your sectors safe on any day right now in this atmosphere >> well liz first congratulations on your pronunciation that was fantastic liz: thank you. i could not have done that. yes, look we >> this is environment which you want to invest in offensive sector, just as industrials, basic material, financials, yes, technology, but don't ignore the defensive sectors. consumer staples and health care, with this exception, we would ignore. the real yield sensitive
3:58 pm
sectors, such as utilities, tell communications and reits. we would stay away from those sectors because rising rates clearly do not bode well for those three sectors. melissa: okay, when you say old tech, i want to bring that up, you say, you like it as a quality sector. tell me if you still like it knowing that next week treasury secretary steve mnuchin is going to come out with a list of ways and names of chinese tech that need to be banned from investing in the united states technology sector? >> well, look, you raise a very good point. tariffs and risk of trade war escalation, that is a clear risk factor for the market but one of the reasons we like old tech is we focus on dividends and growth of dividends, in the technology sector you have to go to old tech to get that, whether
3:59 pm
microsoft, cisco, apple and yet these companies are evolving i am not sure you can call them old tech anymore. liz: microsoft, cisco are your picks? >> yes. liz: what about these, i guess you could say reits, real estate investment trusts? you're the second countdown closer this week who says he likes reits. >> i would stay away from them -- liz: he doesn't like them. my bad. >> in a raising rate environment liz: okay, because we do have some decent returns when it comes to dividends there but your other spooky sectors telecoms and utilities. we chopped losses in half. we have action in syria. are you worried at all as we're about to hear the closing bell? >> i think every single weekend you worry what will come out of the white house in terms of an unexpected tweet.
4:00 pm
charlie in the segment before brought up something to potentially worry about. [closing bell rings] stay with the fundamentals and with those opportunities. liz: thanks very much hank smith. haverford. have a great friday. david: too bad there is not much news to report. melissa: my gosh, we haven't had a moment's break. david: stocks falling slightly. ending the day off 1 is 5 points to the downside. s&p and nasdaq all in the red. all major averages higher for the week. that is good news on this friday the 13th. i'm david asman. melissa: i'm melissa francis. this is "after the bell." we have more on the big market movers. here is what else is happening this hour, wow. breaking the inspector general for the justice department releasing the explosive report that led the firing of former fbi deputy director for his leaks to the media and lying about them ahead of


info Stream Only

Uploaded by TV Archive on