tv Countdown to the Closing Bell With Liz Claman FOX Business January 18, 2019 3:00pm-4:00pm EST
the headlines, that aren't the biggest names everybody is talking about. charles: see you next week. meanwhile, we are up 300 points on the dow. csx, the ceo said winners don't make excuses. i think that's a good quote for life. liz claman, over to you. liz: oh, sometimes i make excuses. thank you, charles. have a great weekend. charles payne, my brother, my man. breaking news. 100 points of gains have just gotten trimmed off the dow rally as we need the final hour before the three-day martin luther king holiday weekend. up earlier by 377 points, right now the dow is up by 287. s&p better by 29. nasdaq has nice gains, 62 points. this as details leak over several issues, team trump's trade negotiations with china and news that president trump will meet once again and have a summit with the north korean leader kim jong-un. but to the trade issues, bloomberg reporting a trillion
dollar offer is on the table from the chinese. china is apparently, according to the report, going to buy up all things american over a six-year period aimed at bringing the trade imbalance between the two biggest economies in the world down to zero. we are going to get you live breaking details from d.c. in just a second. the deadline for a trade deal is now just a month and a half away. importers and exporters are not waiting around. they are trying to beat the clock by front-loading deliveries before the march 1st deadline when president trump says they will slap more tariffs on china if negotiations fail. wait until you see what that's doing to the port of los angeles and its workers. we are going to take you there live. plus, netflix says it's more worried about your kid playing video games than it is about competition from some of the biggest names in media. our tech panel on whether the streaming giant just revealed a major blind spot. and it's a case of david
versus goliath. a company called mongo db is taking on amazon. the ceo is here. he's going to tell us in a fox business exclusive how he plans to battle the tech and e-commerce giant while continuing to collaborate with bezos and company. less than an hour to the closing bell. lots of breaking news. don't move. let's start the "countdown." liz: this breaking news is extraordinarily important. we now have 200 million people in the path of a winter wallop. meteorologists are warning that up to 40 inches could be dumped, snow and rain, in parts of the northeast this weekend, but that's not the worst. blizzard-like conditions will accompany the storm, whipping winds and life-threatening arctic cold that could also lead to major ice issues later in the weekend. not to freeze over your holiday
plans but travel could become a nightmare, not only slick roads but forget about the travel with the air. the government shutdown already hampering airports. flying could become much bigger a hassle than it often is. so consider yourself warned. all right. let's warm you up at least with this forecast. the dow, nasdaq, s&p 500, they are on pace to finish the week with 2% plus gains, but put those guys aside for a second. year to date, the russell 2000 is pulling ahead. the index is having the best start of the year in 32 years. yes, since 1987. okay. so a trip down memory lane. 1987, i was at my first job in tv working overnights at kcbs in los angeles, delivering newspapers to reporters. very glamorous. speaking of delivering, tesla is not, at least to those bullish on the stock. the stock needs a charging station. in this final hour it's down 12%, on track for its biggest percentage drop since last september. ceo elon musk announced a 7% cut
in head count, sometimes getting thinner and leaner is a positive for the stock but he gave this reason that it needs to be able to offer cheaper model 3 cars. they need to move them off the lot. musk also issued a fourth quarter profit warning, no data yet for its quarterly earnings release. and shares of the company known for its robin's egg blue boxes trading in the green right now, up 5.25% despite tiffany reporting a drop in holiday sales. the high end jeweler blaming lower sales to foreign tourists, specifically from china, but who knows if the china trade deal starts to heat up again, maybe that's why tiffany's stock is moving higher. okay. maybe all of this will change this quarter, with the trade talks, could a deal be at hand? halfway through a trade truce forged at the g-20 in buenos aries, we are getting reports that china is offering to eliminate its trade imbalance with the u.s. bloomberg reported that the offer is roughly $1 trillion
spread out over the next six years, where china would swallow up and buy up all of these u.s. goods. the u.s. had a trade deficit with china last year alone of $344 billion and that was just through october. it could top 2017's deficit of $375 billion. so we are buying more from them. let me get to edward lawrence, our big expert on this. you know, you are not only following this story, you have been breaking news in the nation's capital. we got some reports that team trump's counter proposal was to cut this deficit in not six years but two years. how is that possible? reporter: yeah, you know, that's going to be really tough. what they want to focus on is the structural changes. that's what the u.s. trade representative has been really focused on. the markets are up on this positive trade news out of china. china leaking its six-year plan to spend $1 trillion to offset the deficit and eliminate it by 2024. that's according to bloomberg. that's if the tariffs get removed. china has offered to buy more u.s. products in the past but has never given a detailed plan like this. the u.s. trade representative,
robert lighthizer, worries that china will try to buy its way out of these tariffs and keep in place the practice of stealing companies' intellectual property and intellectual secrets there. in the short term, the markets like the news but long term, some analysts say the projection or those protections need to be in place. >> i don't know that there needs to be any specifics. i think if trump comes out and says we have a deal that's good, i think the market's going to take that and run with it. look, this market was completely sold off in december. reporter: now, a new report just released in china shows that china is actually talking the talk. it says in 2019, faced with the challenges of the global economy, china adheres to the basic national policy of opening to the outside world, and implements a proactive open policy. the report goes on to say that china will expand the new policy of creating free trade zones within cities but no mention of protections for intellectual property and that's something
u.s. trade representative has harped on. in the meeting, the top trade negotiators for the u.s. and china will have on january 30th, and january 31st, that's a critical meeting moving forward with that march 1st deadline looming. this could be posturing, floating ideas to see what the u.s. bites on ahead of that meeting. liz: teeth, biting. we are watching all of it. we want to sink our teeth into any news so interrupt us if you get anything more. it is a big news day, and hopes we're closer to any kind of deal with china certainly working magic on the markets. the dow has jumped 500 points over just the last two sessions. first on the report yesterday that the u.s. would remove tariffs, and of course on today's news which edward just brought you. as markets price in at least getting closer to a trade deal, here's the golden rule according to investor and contributor to fox business, gary kaltbaum. number one, it's not the news or the headlines, it's how markets
react to the news. how should our investors, how should you guys, viewers, how should you react to the headlines? especially when immediately we ask our traders, the white house comes out and denies it as they did yesterday, for example, tim anderson, guide our viewers right now, because some of this is being shot down immediately by one side or another. >> yes, but i believe the original headline was that it was something that we're talking about. i'm sure they talk about a lot of things, especially if the president goes into a meeting and says give me all your options. they can be talking about 10 or 15 different scenarios. i think all investors should just proceed with caution as soon as they see headlines and try to determine where those headlines are coming from, and also realize that all of the algorithms that are in the market have headline reading systems in them. they are going to react much faster than you or i are. liz: phil, i would agree with what tim says, especially
considering you've got artificial intelligence now and the algos can read certain headlines and then make decisions based on that, but that could work against them, could it not? if u.s. investor who actually is human and has a brain says you know, i don't think so, and they hold off, they're not caught when the herd reverses. >> that's absolutely true. you know, that's why there was an old saying in the business here, when you trade the headlines you are going to end up selling newspapers at some point. liz: i delivered newspapers. >> there's nothing wrong with it. i love it. i may go back to it. at the end of the day, but this is a head line-driven market right now and i think the best thing you can do as an investor right now is, if you are a trader, not investor, if you are a trader, it's anticipate there are going to be headlines that are going to drive the market. we kind of know that something's going to come out of the white house or something's going to come out of china that's either going to make the market move up
big or move down big, and if you look at that, you look at some of the moves we've seen, some of the swings, they go right up to resistance, stop and go back down. when they go right down in support. that will give you opportunities if you're patient. a lot of times you can make money. liz: it's about making money, chris, and you've got to be able to distill this information. for example, when it comes to oil, oil is spiking in the after-market right now. i just looked, up about 3.5%. it closed earlier in the session up about 3% but still climbing. we have this rig count number where it's the biggest drop and idling of the rigs in quite some time. these are the kind of things you actually have to distill and make decisions on. >> yeah, and the thing is, you have to have the plan in place if you're going to be a trader. you know, traders are different than investors. investors are like warren buffett. they buy it, they hold it forever. if you are a trader, depend
onnidepending on your time frame, you have to have strongly held opinions but be able to cut them loose immediately. it's difficult for most people to be able to do. the crude oil market now is very technical, lot of people are looking at $55, then $60 as upside targets. when we get there, it will be a positive headline, then that's when you actually want to be selling into that, when it hits the headlines. just like christmas, the day after christmas, when the world was coming to an end. that was actually the best time to buy the s&p. we have rallied 15% from that low. it's almost 1% a day. now, are we going to continue to have that type of growth the rest of the year, no. so traders are actually selling this s&p rally right now and investors, i think, you have to separate yourself. are you a trader or investor? liz: that's the hardest thing, isn't it, when you look and say oh, it's going up 2%, it might go up another percent. they don't tend to sell into a rally. >> it's very hard to do.
it's that fear of missing out, fomo. it's like oh, my gosh, this thing is really taking off, you have a tendency to want to jump. a lot of times that's when you want to take profits. a lot of times you want to hit a good position, when i really start feeling good about myself, hey, i'm really smart, that's the time to get out because the market's going to take it away from me. you talked about that rig count real quick. i think that's a big sign, the biggest drop in three years. liz: 21. 21 of them. >> yeah. and i think there's a lag time with these rigs. we have all been touting look at record u.s. production, isn't that wonderful. remember, the rigs that created that production came in when the price of oil was at $60, $70. now we are seeing, you know, the lag time, we are seeing the pullback in that investment. that means a pullback in production. liz: well, we're not totally pulling back with the markets here, gentlemen. have a good long weekend. we should let our viewers know, we are here on monday because there's going to be major international news, just because we might be closed here in the u.s., fox business is open,
because we have got to follow every single headline overseas. there will be a lot of them. we will get to that in a minute. meantime, controversy swirling around amazon in this final hour, with the closing bell ringing in 48 minutes. amazon is pushing higher despite pushback on the e-commerce giant's plan to sell its facial recognition technology to the government. some vocal investors want amazon web technologies to halt the sale of recognition, citing civil and human rights risks. one company that clearly recognizes amazon's strength as both a fierce business competitor and partner is here. mongo db. have you heard of this? it works with and competes against amazon web services. how's that working out? you are about to meet the ceo whose stock is up 160% year over year. he's here exclusively on how much longer this david versus
optimizing performance and budget. beyond having questions. to getting answers. "activecore, how's my network?" "all sites are green." all of which helps you do more than your customers thought possible. comcast business. beyond fast. liz: breaking news. we started to suddenly see the dow jones industrials perking up even more here. maybe we can look at an intraday. we are starting to climb back
up. reports that the federal reserve's mary daily of the san francisco fed, she's leaning toward, this according to "the washington post," leaning toward pausing on interest rate hikes for awhile. this according to the "post." for awhile she sees quote, nothing in the data to suggest an imminent recession, want to be sure of that, and apparently, this is a profile that's going to be published at some point today on the policy maker. so we're start toiing to see thw up 302 points. we had been up 275 a few minutes ago. want to get to amazon. you heard the complaint amazon is crushing small business? check this. amazon put out some numbers today. more than 50,000 small and medium sized businesses globally, amazon says, have exceeded $500,000 in sales by selling their wares through amazon site and amazon.com stores. but the question of frenemies is spilling over to the cloud.
bitter competitors, amazon, google, microsoft are neck and neck in the cloud race but the little guy in this david versus goliath war is suddenly very key. mongodb is the first cloud data based company in 25 years. it just went public in 2017. the stock is up 160% year over year as companies like amazon, this is interesting, have both partnered and competed with mongodb. we thought get the ceo in here. the ceo, dev ittycheria is here in a fox business exclusive. awkward. you are working with amazon, yet they have suddenly rolled out something that could arguably compete with you. >> well, let me give you some context. first we built a data base developers wanted for today's modern applications. it became wildly popular. then our customers came to us and said i don't want to spend my time provisioning, maintaining and managing my infrastructure. i just want to consume it as a service and we rolled out
mongodb atlas. that runs on google and microsoft, it's been wildly popular. liz: explain to our viewers who don't know what you're talking about what it does. >> basically it's a managed data base as a service offering. essentially we take all the provisioning, maintenance, upgrades, security, patching of the data base so developers can just focus on building applications. just takes away all the headache of all the management they have to do. and it basically allows them to focus what they do best, build amazing applications for the business. it's been wildly popular. it's grown 300% year over year over the last year and as i said, it runs on all three clouds. actually, amazon has been a beneficiary of our growth. liz: i would think. >> because we drive a ton of consumption on both storage and compute services as well as a bunch of ancillary services. liz: but now amazon has come out and announced, i guess you would call it a document data base with compatibility with mongodb. are they copying you guys?
are they imitating you? >> amazon is in a bunch of businesses. who doesn't compete with amazon today. yes, they do have an imitation service -- liz: but you help them. >> we help them and we have lots of customers, we work with them in the field, we have lots of customers close together but this is the spirit of competition. they have an imitation service. we're not worried. we serve some of the most demanding and sophisticated customers, customers like big banks, morgan stanley, hsbc, barclays, large telecom companies, at & t wireless, tech companies, media companies, and cutting edge startups like epic games, who built fortnite as well as crypto currency space. liz: i'm thinking about fortnite. we will talk about that later, but it has 200 million players worldwide. what do you guys do for them? >> guess what data base it runs on? mongodb. liz: that's amazing. you jumped into the fray, the company was founded in 2007 so you are not an overnight
silicon adage that says imitation is the sincerest form of flattery but the technically savvy developers out there would distinguish between the real thing and a cheap imitation. >> yes. liz: okay. have you heard from amazon about that? is the relationship still okay? >> the relationship is still okay. we still work with them in the field. we are still working with them, still drive a ton of business for them. so again, it's the spirit of competition. we also work with google and microsoft and a bunch of other large companies, so this technology road is very interconnected. what we are trying to do is address the needs of customers. we work with the customers in mind. again, our customers are again some of the most sophisticated customers in the world who are using our technology to run their business. that gives us a tremendous amount of confidence about our opportunity going forward. liz: did you guys hear that? he said coopetition. cooperation and competition. great to see you. come back. we love the story of david beating goliath or playing in their circle. thank you.
mongodb is the company. it is up about 200% since it ipo'ed in october 2017. rev up the backhoes. with the closing bell ringing in 38 minutes or so, the dow up 294 points and dow component caterpillar is among the leaders there, in second place after reuters reported the trump administration is considering a new push for an infrastructure plan, and they would need caterpillars, most likely. forget the work boots. skateboard sneakers to the top of the s&p 500 at this moment. the maker of north face, lee, wrangler jeans, boosting full year profit and revenue forecasts as demand for those popular sneakers boost sales. up 11.75%. next, apple partnering with a fellow dow component to put its apple watch ekg under the life-saving microscope. listen up, you may be one of the study participants. we will tell you about this
liz: all right. malaysia's finance minister telling goldman sachs that simply apologizing won't be enough. the country's top financial voice now suggesting the only way charges related to this scandal might be dropped would be for the big bank to pay a simple fee to make things right. how simple? $7.5 billion. that's what malaysia wants. goldman has been taking heat for its role in underwriting three bond sales for the malaysian state investment fund that accused the mastermind used as his own personal piggy bank. charlie gasparino's sources have warned goldman could face up to $10 billion in fines related to that scandal. malaysia may not be accepting ceo david solomon's apology but investors are fine with it. shares are up for a third straight day for goldman since the new ceo's earnings call
cameo, and currently we do, as we said, have goldman sachs trading, yes, we have it up about 1.66%, at $202.40. let's stretch it out to the markets here. we do have the dow jones industrials holding on to a really significant rally along with the s&p and the nasdaq. the dow up 290. game stop giving investors a big easter egg in its earnings for the all-important holiday quarter. let's good @to gto gerri on ther of the new york stock exchange for today's business brief. gerri: a little noisy down here on the floor. shares of game stop going higher after they announced an increase in same store sales october through the end of december. driven by strength in its collectibles, accessories and digital business. shares up 3.3%. johnson & johnson announcing a new partnership with aupple. they are pairing up on a study
to detect heart [ inaudible ]. google announcing it is buying the smartwatch technology unit. the deal expected to close at the end of the month. shares soaring yesterday but losing ground today. they are down marginally, not even a percent. google shares currently trading much higher. up next, we take you live to the port of los angeles to show you how it's anything but business as usual. "countdown" will be right back. comcast business built the nation's largest gig-speed network. then went beyond. beyond chasing down network problems.
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liz: the impact of the government shutdown is on full display as it hits day 28 with no end in sight. you're looking at service men and women of the u.s. coast guard who are working hard and not being paid, and having trouble keeping up, so what happened? a group of nonprofit organizations opened this popup food pantry for furloughed workers in new london, connecticut. a major part of the coast guard's duty is the security of our ports, and their job is getting harder as they work without pay. december activity has actually ramped up at the port of los angel angeles. last month, importers rushed to get their hands on new products before the 2019 tariffs. hillary vaughn is there now. what are you seeing? reporter: i want to point out what's behind me. you are seeing container after container stacked up here at the port of los angeles and i want to explain why this is not normal, because the director of the port of l.a. says they just wrapped up a record year in
terms of imports coming from asia all the way over here. we have already seen one ship go out today. you can see that there's two others loaded up with containers headed to asia. they moved more cargo in 2018 than any other year in the last century, 9.4 million teus in 2018 and here's why. because u.s. companies are trying to beat the clock. the tariff war between washington and beijing means retailers are rushing to bring in orders from overseas and that surge of imports is causing kind of a logistical nightmare here. there isn't enough space to put all the cargo that's coming in from china. >> what we've seen with the surges in cargo are that not only do we see an imbalance of trade, meaning more cargo coming in than is being exported right now, we also see those asset providers like the railroads having to do double time work to try to get their crews, engine power and assets in place to
handle these surges. the warehouses in particular have less than a 1% vacancy rate throughout southern california today. reporter: the port of l.a. director tells us there's actually been a significant trade imbalance during this import surge. he says that the numbers of full containers coming in from china do not match the number of full containers leaving the u.s. headed to china. in fact, the port of long beach shipped back more than 186,000 empty containers all the way back to asia last november. that is up 11% compared to november the year before and the port director at long beach says the surge that you're seeing here is the opposite of what is happening over there. he says that chinese companies are looking to other countries to fill their inventory that's not being filled from u.s. companies. liz? liz: hillary, fascinating stuff. thank you so much. it's unbelievable all the activity still going. with the closing bell
ringing in 22 minutes and the dow jones industrials still moving higher now by 305 points, netflix says its biggest concern in the battle for streaming eyeballs isn't disney, comcast or at & t. it's a game that involves jumping out of a bus on an island and then fighting each other until only one is left. 200 million people worldwide are tossing picks la ining pixellat each other. but is there a better way to play netflix than netflix stock? we have some names. "countdown" will be right back.
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regulators have met to discuss a quote, record-setting fine for facebook after the tech giant violated users' privacy agreements last year. the penalty fine is currently under consideration by the fcc -- ftc, rather, federal trade commission, but you can see this is an intraday picture. it was climbing, then of course around 11:00 a.m., it started to middle around, then it fell on that news. now it's climbing back. that was right at around 3:00 p.m. eastern, 2:30, that it hit the tape eastern time. we are seeing it climb back. it is up about a percent but we are watching facebook right now. if you thought hbo or hulu or in other tech news, you thought they were the only ones in the streaming boxing ring against netflix, think again. netflix revealed in its shareholder letter that it's in a bloody beat-down battle for screen time with what's on your screen. this massively popular video game fortnite which we talked about on this show. while netflix admitted it loses more eyeballs to fortnite than
to hbo trn, it's not the only t they are losing. after a slight fourth quarter revenue miss, reports the streaming behemoth could be losing up to 40% of its content library. our next guest says while netflix wants to jack up prices for u.s. subscribers, that could help keep investors happy. we are joined in the conversation by technology editor from market watch, jeremy owens, who reports extensively on the biggest names in silicon valley. before we get to netflix, give me your thought on facebook. it doesn't appear to be dinging the stock too badly that "the washington post" is reporting you have investigators considering a massive fine against facebook. >> yeah, but how massive? facebook makes so much money, it's going to have to be extremely, extremely massive to make any kind of difference, especially long term. google already getting two record-setting fines from europe and it barely caused a blip in
that stock and in their finances. so i don't know if a monetary penalty is really going to show up at this point. it would have to be so massive that it would blow everybody away and i don't think they are going to be able to do that. liz: no wonder the stock is not turning negative at the moment. it is up about a percent right now. okay. let's get back to netflix. one thing that i gleaned from netflix is simply this, that they had added 8.8 million subscribers who pay and they did this globally, so game, set, match, they are in the winning position. >> that's exactly right. that number was one million more than we were expecting and also the consensus estimates and guidance from the company itself all entirely due to the positive surprise on the international subscriber trajectory, so i think that if you consider the last quarter, q3 where they beat by two million, now in q4, they beat by another one million,
that's remarkable for a company that is just 12 years old. it just speaks to the potential upside ahead. beyond that, i think the idea that they are now starting to turn the corner in terms of visibility of free cash flow, another cash burnoff of $3 billion in 2019, they say and our models suggest two to three years from now, we are actually seeing a positive trajectory for free cash flow generation which would be a major turning point for investors. liz: since the ipo it's up 30,800%. my eyes are going like this. they are freaking out when they see that number. jeremy, okay, people are addicted to netflix. i found it really interesting that netflix kind of flicked off its competitors such as disney and comcast in the streaming space like they were flies on their shoulder, yet they brought up fortnite. we need to let our viewers know about the sort of genesis and
the genetics of fortnite. it's owned and created by epic games and ten cent, the chinese conglomerate, has a stake in that. do you believe netflix when it says it's most worried about fortnite stealing all the eyeballs? >> yeah, i believe it. i have been booted off of my tv so my stepdaughter can play fortnite on the xbox on the tv. this is a big fight for eyeballs. everybody wants your attention. that is not just against disney and amazon but it is against -- you can go against amazon and reading books. some people turn off a netflix show and start reading. so you will have to fight for that but it's a little disingenuous because they are going to fight a lot more streaming competitors. there are a lot of people coming for what netflix already does and that could at some point affect them especially if prices continue to go up. liz: let me jump in and say ten cent is at $43.55. we have had some stock pickers on who absolutely love this
company. it is certainly not at its high, which was $61 but it's not at its low which was $31. tuna, do you still say just take netflix, just forget disney and comcast, or do you put some strength and real oomph into possible competitors here? >> well, you know, i think what netflix is saying now that the competitors are kind of -- go beyond traditional definition. this is actually what we have been saying for awhile in terms of our overall, how the kind of internet video landscape is evolving, so i think when you think about the competition for eyeballs, screen time, they did put out a stat that they account for about 10% of total television screen time, less than that on the mobile front. so all of these alternate entertainment sources i think really kind of redefine the overall paradigm. so to your question more specifically in terms of the potential impact on netflix, i do believe that we are still in
the relatively early to mid-earnings of this kind of phenomenon, especially on international market, where you've got the broadband household just barely getting scratched compared to the u.s. while disney and nbc and everyone else are jumping into the fray, time warner in the streaming wars, we think the pie is large enough that netflix can stake out its claim and continue to kind of grow, especially given the content investment they have accelerated in anticipation that they are going to be losing some of that content. liz: you get people who say they are throwing too much money over some mediocre stuff, but jeremy, disney doesn't do things half-heartedly. so if they are going into streaming, they are going to really try and do this correctly. you've got to figure that you can really never just say we won. you don't say we're winning, because it's a work in progress. netflix is winning, but could
disney give them a run for their money? >> it's possible, they have so much back content. again, we saw hbo come in and they have so much of a back library as well that they are putting forward, yet they still haven't been able to take that chunk out of netflix. we have seen amazon come in and do this. they have already faced increasing competition for two, three years and they have grown subscribers, paid subscribers, by 24% and 26% the last five quarters in a row with that increased competition. i think we will see something else besides other streaming competitors be the thing that does knock netflix up. liz: i think by admitting that fortnite is a force to be reckoned with, netflix just woke a lot of people up to the power of that game. good to see both of you. tuna, jeremy, come back again. thank you. closing bell, we are about eight and a half minutes away. i'm watching the dow here. now we are up 270. at the height of the session, we had been up 370 plus points, 377, to be exact. we lost about 100 points here.
up next, we have the government shutdown, china's trade war, brexit drama across the pond, a lot going on ahead of the martin luther king jr. holiday weekend, but our "countdown" closer is here to tell you how he says you can avoid holiday headaches when it comes to your money. "countdown" is coming right back. don't go away. this is huntsville, alabama. aka, rocket city, usa. this is a very difficult job. failure is not an option. more than half of employees across the country bring financial stress to work. if you're stressed out financially at home, you're going to be too worried to be able to do a good job. i want to be able to offer all of the benefits that keep them satisfied. it is the people that is really the only asset that you have. put your employees on a path to financial wellness with prudential. bring your challenges.
♪ liz: five minutes to the long weekend, closing bell. we're five minutes away. you can see the dow is up 2 and 3/4% for the week. nice move here. gerri, they get caught up to the volatility, they think it is awful start to the year. it has been a great start for the russell and s&p. >> you have to love this going into long holiday weekend, all green here. fantastic. look at winners and losers. goldman sachs, of course the biggest winner here. strong earnings report. they were the only wall street
bank to grow trading revenues year-over-year. they had the best day for the stock since 2009. very big deal. unitedhealth, nation's largest health insurer, beating on top and bottom line. medical loss ratio not so great. investors ignored that. nike, don't think it was using cell phone to tie the nike shoelaces made the stock a go. report chinese consumers may buy fewer iphones but not fewer nike shoes. losers, let's look a week, this has been a week, certainly last few days on news. verizon, pfizer, unloved names. walt disney reported something that grabbed attention for investors significant investment in content. that is not something investors wanted to hear today. that stock down. liz, back to you.
liz: i agree. to see goldman up 14% on the week. it is still down 21% year-over-year. nice move up off the floor, gerri. you're welcome. connell: stock and bond markets are shuttered. fox business is open for business. i and team countdown are here. why? first of all fox business works harder. we're here. but the record long shut down is expected to still be in force but there are also all kinds of international stories. the international markets are open. so it is rao little important you stay tuned. beijing expected to release the gdp report. so growth in china will move our futures. i guarranty you. growth or lack thereof. british prime minister theresa may latest plan b brexit may be released on monday. let's bring in cornerstone parter managing partner jeff carbone. we have three minutes left to go into the holiday weekend with, a
portfolio ready for anything? >> yeah, i think, as we know, with the trading been all about trade, federal reserve, slowing, slower global economy, and the political turmoil we're in washington right now. so i'm really looking on monday for the gdp reading out of china. see if it adds additional kindling to what we have. liz: what are you expecting? >> i would not be surprised to little weaker reading out of china. i expect 6. 4g dp. that will help toward some of those talks. if we go strong, markets continue to rally. i don't believe the volatility is over. balance your portfolio between the market momentum but also some defensiveness. so large company growth, larger companies with high quality balance sheets paying a dividend, overweighting my
portfolios right now. liz: look at s&p. we're up 31 points. health care has done well. technology has done well. dow which is up 303 points has a lot of big financial names in there. you like financials? >> executive on financials. certainly on technology, do you like health care or financials. being selective, the dislocation we saw in december gave us opportunities we took advantage of it. we always say the markets are not made for average investor to make money, fear and greed. you take advantage of fearful times. i think average into really good quality names. don't, be defensive. look at consumer staples, when you can average into those as well. liz: look at this, folks. now the dow up 331. almost if there is a rush for entrances. forget the exits.
[closing bell rings] the bulls are here in the last 15 seconds. there goes the bell. our thanks to jeff carbone. 335 point gain of the close to the highs. s&p up 34. nasdaq charging ahead by 71. have a great weekend. i will see you monday. melissa: dow finishing week strong on renewed trade optimism by china. almost all green across the board for 30 stocks in the dow, marking a four-day winning streak. there is the bell. i thought we lost the bell. connell: they forgot to ring it. >> s&p 500 and nasdaq ringing in positive territory. all three major averages closing in the green for four straight weeks. i'm melissa francis. connell: i'm connell mcshane. all the days you want to ring the bell. here is what is new at this hour. the shutdown fight intensifying. the back and forth between president trump and house speaker nancy pelosi escalating to new levels. question