tv Countdown to the Closing Bell With Liz Claman FOX Business May 26, 2015 3:00pm-4:01pm EDT
that is all we have for now. hope you're making money. even though it's a rough day for stocks. dow down 200 points. 238 points. all three major averages down about 1%. "countdown" starts right now. liz: yeah, melissa, the steepest sell-off in about three weeks. we'll take you three every step of it. keeping up with the joneses or changing tastes of the joneses and other americans. yum brands giving the boot to artificial coloring and flavoring. will it attract investors and health conscious millennials? will this mean your next taco will be better for you? american homeowners should be feeling more flush today. the kay schiller index rising on average 5% in march. a year ago, much better. and more americansbuying homes. we've got doug bower, the ceo of tri point homes. (?) we'll ask him the precise time to sell
your home or rush to get into a new one before prices rise higher. he knows. want to make it to the forbes top 100 list? where would you rank beyonce versus yahoo's ceo. wait until you see how forbes stacked them. last hour of trade. let's start the "countdown." ♪ liz: and we begin with breaking news. we're watching the stocks of comcast, timewarner, and charter, just one month after comcast failed to buy timewarner cable, another cable provider is going shopping. no discount. it's charter communications. the number 31 in america. it wants to buy timewarner for $55 billion. (?) $10 billion more than comcast's bid for timewarner cable. now, major backlash by
smaller operators, along with regulatory concerns from the fcc killed the comcast timewarner cable deal. but what might be different this time around? how do the little guys in cable feel about this hook-up? a lot of these are mom and pop organizations. not publicly traded. a loud voice. steve is wave broadband ceo. out on the west coast. washington. oregon. california. you've seen your company through 17 mergers. compared to a charter and timewarner hook-up 23 million subscribers, does this merger worry you? >> no, actually. i think it's hopefully good for the consumers of both charter and timewarner. and the significant cost synergies on the programming cost side. and i think this deal will likely go through. liz: a lot of the smaller operators like yourself absolutely despise the idea of
comcast hooking up with timewarner cable. i don't think comcast helped itself with a lot of the problems that suddenly sprouted up at nbc which it owns. why doesn't this one worry you? it really wouldn't have that -- so many fewer subscribers than the timewarner comcast deal would have had. >> well, you know, both charter and timewarner are pure cable operators. they don't control content like comcast did. another concern for the smaller operators was comcast not only having enormous scale in the broadband business, but also having control over content. that's not the case here. and also, their size is going to be, you know, significantly less than comcast would be. i think the combination of not having control of content and really only controlling about a third of the broadband customers post merger, you know, make it less worrisome. >> let me explain to our viewers why controlling content matters.
when comcast bought nbc, they took on a lot of cable networks. they already owned a few others. they took on some, including cnbc. a competitor to us and bloomberg. and bloomberg felt it really got into trouble. i'm thinking, what if charter and timewarner cable -- we can show steve now. there you go, what if charter and timewarner cable say, we don't control content. then they wake up one day and want to buy cable channels. steve: i think the fcc would review that merger when they chose to do that. there would probably be restrictions on them if they chose to do that. the other significant issue here is timewarner and charter combined with bright house will be big enough to demand significant programming cost decreases. and sometimes, those decreases for the big guys result in higher costs for some of the smaller guys. so that is still a concern. but, you know, we've been transitioning away from the cable tv
business anyway. liz: smart. steve: we make money on our broadband connections. we don't make much money on the content business anymore. we're further along on the broadband network. it's still somewhat of an issue in the consolidation around content costs and driving, you know, higher costs on the independent guys. but most of us are focused on letting our customers get content streaming over the internet and buying that and giving consumer choice from those who have better cost structures. >> here you have it, folks. a guy who runs the smaller cable outfit. wave broadband. we'll be watching to see what happens. will the fcc agree to it? best guest. >> i don't see what -- these companies don't compete with each other. they don't have the scale problems that comcast would have had. and they don't control the content. liz: great to have you. good luck with your business, steve, thank you so much.
steve is wave broadband's ceo. look at the markets. steeply selling off in the final hours of trade. the s&p 500 and the nasdaq are having their biggest drop since may 5th. not that long ago, the dow seeing its biggest drop since april 17th. the traders to get at the heart why in this final 54 minutes of trade are we seeing a drop here. twenty-five points for the s&p. mark to you on the florida of the new york stocon the floorof the new yorkk exchange. durable goods don't look bad. are people worried that the fed will tighten earlier rather than later. >> i think that's absolutely right. one thing the market is concerned about. the fed is taking on a more hawkish tone. considering raising rates when the economic data hasn't been that good in the last few months. when the us is done with qe like we are, and all of a sudden we were talking about raising fed fund rates, doesn't
seem perfect. causing consternation. a bigger factor than greece. but the market isn't showing any significant deterioration when you take into consideration the longer trends. even a three-month trend. we need to get under early may lows to see if the market will suffer any serious decline. it's short-term. the breadth continues to be heavy. four to one negative. 91% of the volume declining. >> look at the vix, allen. the vix is jumping. this is the fear index. jumping 19%. granted we were at a much lower level. i'm looking at this. i'm thinking, what is so worrisome about better didata? we know eventually the fed will tighten. >> exactly. you saw -- this is how the market is supposed to work. you're seeing a bit of a sell-off in stocks. you're seeing the bond market rally hitting two-week highs. you're used to seeing
that inverse relationship thrown off recently. the vix was at its lowest level since december 5th. it was in the mood for a snapback. let's see how things react the next couple of days. last wednesday since we made all-time highs for the s&p. this is a taking an unwinding. 2100 is an important pivot on a weekly basis. let's see where we are on friday. >> we're just above that important pivot. eliot, we have a stronger dollar today. an eight-month high against the yen. it doesn't matter to most of our viewers. but it does matter to oil. gold is dropping. oil is dropping. >> liz, we were at this exact same point last week talking about crude. as you know, i've been bearish on this. every time it gets up here, i think it' it's a sell. i think the crude is stuck in a range. up 62. came back to 60. last week, 57.
since i was on last, back to 60. now back down to here. i think it's a rubber band for now. you know, overall i think it should be much lower. (?) but i expect it to ping around $60 for the foreseeable future. liz: well, we still have lots of inventory. i'm kind of with you. who said the market was rational? great to see all of you. mark. allen. great to have all of you. closing bell, about 51 minutes until we see the bell ring red on the screen. a little orange. next time you run for the border, will your taco look or taste the same? especially the dorito ones. what about the pizza? yum brands says we're done. we're nixing the neen. will it be enough to convince the millennials? where do you put the largest retirees on planet earth? how the former star
♪baby come on over tonight ♪ >> who is more powerful? the singer shakira or house minority leader nancy pelosi. forbes comes out with its 100 powerful women list. the names at the very top, angela merkel of germany. hillary clinton. they top the list. mary bar of general motors. of course, they're one through five. janet yellen. but what we found interesting at "countdown" was some of the placement of other women on the list. (?) for example, beyonce came in ahead of yahoo's marissa mayer. beyonce was 21. marissa mayer, 22. actually i thought she was 27. twenty-two. nancy pelosi comes in at 38. behind vogue editor anna wintour. i know anna wintour is
strong, but -- mary jo white is behind shakira. if you're deciding who has more power to affect your life. were there any names that surprised you? head to facebook.com/on call. the whole list is there of everybody one through 100 including our own greta van susteren of fox news, yes. tell us who you think should be ahead of those names. after a long cold and wet season, lumber prices drop to a three-year low. several lumber stocks taking a hit. new home sales did jump 6.8% in the month of april. could this be a big boost for lumber prices? jeff flock joining us in leeland, illinois. hi, jeff. jeff: look. i have money in my hands. this is what is left over when they make the money. this is underbeneath the
planer here. lots of sawdust. lumber is coming back in a big way. maybe you see the latest log to go through the -- that's the 50 six-inch saw blade, by the way. if you see it up close and personal, that's a piece of walnut. look at lumber futures which had been at a three-year low. boy, that walnut. that's nice stuff. >> really coming out there great. jeff: beautiful. lumber futures three-year low. started to rebound. coming back. that's mainly because of housing. optimism because of housing. 40% of lumber is used in housing, dave, and when housing takes off, you take off. >> yes, it helps everybody to keep the economy going. the wood business relies so much on the building industry. it is a tremendous help to our economy. jeff: i'll let you cut that
piece of walnut up. if you love the smell of wood, i wish you were here. because, man, it smells great in here. just to see this beautiful pieces of hardwood there. nice coffee table for you, maybe. liz: yeah. i'm renovating a house. i'd love some of that for my flooring. get me a discount. walnut floors. jeff flock right there in the thick of it. really the only way you'll see the true story right here on fox business. lumber prices aren't the only sector that will see a boost thanks to the new home number that looks strong. what are the home builders seeing with their customers? joining me now tri pointe homes ceo doug bower. did you just see that? lumber is picking up. that must translate to your business. what are you seeing in trenches? >> hi, liz. we're seeing continued strength in the new home market as reported today
across most of our markets. the tri pointe group represents six different brands in eight different states, ten different markets. across the united states, we're seeing strength in the new home market, and as you see it start to increase, you'll see commodity prices gently move, i'm sure. >> what does the seller want? they want a good home price. your sellers, are you seeing lines when you put up brand-new homes. what's the atmosphere like? >> we're continuing to see very strong markets. california, denver, seattle, las vegas, not only at the entry-level, but also at the premium price point. resp is about $550,000. and actually in houston. south of downtown houston. clear lake, where there's very little
supply, we've had campouts for our products there in houston in clear lake. liz: if i'm a seller, should i quickly sell? or if i'm a potential buyer, should i jump in now? do you see prices jumping higher as we get warmer and better weather? >> you know, we are seeing pricing power in most our markets. not all of them. and the new -- the retail market inventory is pretty low. it's about 4.8 months across the nation. and the new home supply is very low in our markets. six brands are really positioned in some of the strongest household formation and job creation markets in the u.s. so, you know, it's a good time to be a seller. and it's also a good time to be a buyer. liz: can't be both though, doug. which one is better right now? >> well, i mean, if you're a first-time home buyer, great time to buy a house.
rates are at historic lows still. if you're in a move-up situation, it's a great time to also sell your house and extract some of that equity and move into a new house at a higher price point. so, you know, we're seeing movement along all price points, both at the entry-level all the way up to the move-up. liz: great to see you. you guys were gutsy. first housing company to go public since the housing bubble blew up. good luck to you. >> thanks, liz. >> doug buyer. a fine usc graduate. i can at least say that. tri pointe homes, good to see you, doug. forty minutes away, you can see on the screen. what is this? why is there so much red on the screen? there's panic about what the federal reserve might do next. well, fear no more, charlie gasparino's guest is coming up. yes, he's bringing a friend who is very smart with five things you need to do when the feds
♪ >> okay. so you're working on wall street. you think you have an amazing job. you know what you should be thinking? how do i stay out of jail. how do i stay out of prison? our next guest might have all the answers. mark powers is a top white-collar crime attorney and a national leader at security litigation and
regulation enforcement practice. joined by charlie gasparino. the five things to do to keep yourself from landing behind bars. charlie: okay. jim comey generally doesn't show up to your house, but some other nasty guy in a suit, they come -- and these guys are trained. i know this for a fact -- to scare the crap out of people. if they think you're guilty of insider trading. what do i do to stay out of jail? people do stupid things all the time when the feds come calling. >> first thing, stay nothing. charlie: you can't even say hello? >> say hello. thank you for coming here. listen, let me get back to you. you want to collect your thoughts. you want a witness. they have photographic memories. they'll be taking notes of everything you're saying to them. liz: doesn't it make you look guilty if you're shutting down? >> the fbi relies on
people to do foolish things, which is talking to them voluntarily. charlie: suppose they trick you into a conversation of some sort, which let's face it, we're human beings. we like conversation. listen, people have like urinated in their pants when the fbi -- i know this for a fact. liz: or fainted. charlie: fainted. matthew before he went to jail fainted when the fbi came to his house. you start talking to them. you have to be polite to them too? >> they are the government. right? which is our government. you don't want to be disrespectful. the bottom line is you need to make sure you've gathered your thoughts. it's very important -- another rule to keep in mind, whenever you speak to the government, you need to speak the truth. you lie to them. it's a natural inclination for someone who engaged in wrongdoing, touched the truth. speak the truth if you'll speak at all. the idea is, if you want to speak to them, you
need to realize -- let's say it's insider trading or something, it may get resolved on a civil level. you don't want to turn a civil case into a crime. you lie to an fbi agent, that's an offense. >> only speak with an attorney. here's something interesting, when the fbi showed up at phil nickenicholson, they were trying to scare him. goodbye. that case kind of evaporated. it works. right? >> the bottom line, the reason why, even though it might sound self-promotional for my legal profession. you want to have a la as an intermediatary for you. they make sure what you say is prepared in a way that is coherent and tells the truth. charlie: right. >> therefore, you kind of go that route. another rule to keep in mind, if you don't want to speak to the fbi and the scc, get to the bottom of the facts
yourself. they're not trying to invite you to a tea party. >> they're not your friends. they're people there looking to see if there is a violation of security laws. if there's been a crime committed. charlie: we basically have the five there. tell the truth. be cooperative. don't be extraneous. liz: always appear cooperative. >> the bottom line is -- charlie: speak with an attorney. here's what i want to ask you, you were involved in the martha stewart case. do you remember that? you represented doug, who was the assistant that allegedly was the conduit to give the allegedly illegal tip to martha stewart. martha stewart was never charged with insider trading criminally. she was charged civilly. she was charged with lying about it. what made her blow so much smoke. she claimed she didn't lie. just my opinion, listening to the stories she made up, it was
pretty transparent it didn't make sense. why didn't she keep her mouth shut? >> i come from the perspective of someone who wasn't involved in those conversations between her and lawyer. she met with the fbi within two weeks of them contacting her. there's no way, in my view that her lawyer or she could have read through all the computer files and all the emails and made sure she was properly prepared to know what was there. so either she in my opinion ignored good legal advice about not going in so soon, or she was given bad legal advice. charlie: right. bottom line is keep your mouth shut. be sergeant schultz. i know nothing. liz: i know nothing. and be friendly -- be cooperative. charlie: be nice. here's a cup of coffee. i know nothing. get lost. all right. liz: it's great to have you. if you have trouble, call him. charlie: that's news you can use.
liz: for people who buy stocks, sometimes the fed shows up at your doorstep. say nothing. be cooperative. and call baker. thank you so much. charlie. charlie: what? liz: you write for the post. charlie: oh, yeah. you were in the new york post, that's right. i forgot. well, liz, i read so much stuff every day. what i love about you is that you, in many ways, set the trend when it comes to buffett. liz: oh, thank you. charlie: every other reporter covers him at these big confabs. one thing is that buffett turns to liz often. liz always makes news when she's there. you're nice to the guy. liz: warren buffett always said, just so, you know, throw hard balls at me. i don't think he wants the easy pitches. i mean, he -- but when it comes to netjets, which is something he owns, they have a long-standing labor problem with their
pilots right now. the post finally picked up on the story. i thank the post for quoting fox business because we were the first to talk to warren buffett about this. and now it appears that the pilots, if you believe the pilots union, are leaving in bigger numbers because they're unhappy with the money they're getting. charlie: you know what, a lot of people are afraid -- piss off buffett by -- liz: there were protests. charlie: you had no problem asking. liz: zero problem. >> he respects you for that. liz: he had no problem answering that either. here's what he said. >> they average $145,000 annually, and they're on for seven days and off for seven days. i mean, they like the work arrangements. they like that they can enter the work system in any place. we don't see our pilots going elsewhere. but they have good jobs and we have a good business. liz: well, it's important to note. tomorrow we'll get the
union's side of it. we have the head of the pilot's union. pedro larue. we'll call buffett again and find out the numbers. charlie: you're all over the place. you're in the times. liz: you've been in the new york times many times. charlie: always negative though. liz: there was an article. tony awards coming up in a week. charlie: now i know why they want you to pose in playboy. liz: that was a rejected louboutin ad. please. charlie: that's pretty amazing. who did you vote for? liz: we haven't voted yet. we have to see all the shows. there's 40 of them. charlie: i'm not big on the tonies. do you like the cleos? liz: i do. charlie: i like it better than the tony's. liz: i have an orange neon taco. mark powers, thank you
very much. look at this. this is the color found in nature. like on the front page of the new york times. this is the closest we got. charlie: or when you're radioactive. liz: orange, inc. this color orange might have a very short shelf life at taco bell. some of your favorite delicacies might be getting quite the makeover. in fact, they will. not maybe. will this change the way you look at the healthfulness of this food? yum brands is doing it. guess what one expert said about it. he wrote the dorito effect coming up next. one iconic brand, the ringling brothers changing up their products. they're removing the elephants from the show. but would you still go to the circus without the famous elephants? charlie: i wouldn't. liz: we take you to the place where they will kick up their feet. do they have feet or hoofs? charlie: hoofs. liz: heads and relax. taking you there to show
♪ >> they may not be getting a gold watch upon their retirement, but they will be getting a lot more room to roam freely. ringling brothers as we mentioned a couple of months ago, officially announced they are retiring their 43 elephants from performing. and moving there, where? to the center of elephant conservation. so we thought, let's go there. steve went there. and he's in miami right now with what it looks like and what they'll be doing and what their life will be like, steve. steve: it's really going to be a gradual process over the next
three years. these elephants will be phased out of their work in the circus in large part due to protests and they'll be moved down to a retirement community in central florida. >> come here. turn. good girl. come here. >> elephants, the iconic image of ringling brothers circus will be phased out and retired here. 200 acres in central florida. what began with the purchase of jumbo by pt barnham will end after 100 us cities have passed ordinances restricting the use of elephants and decades of criticism by animal rights groups. >> we're very happy that we're going to see the day that ringling is going to stop using elephants in the circuses. we would like to see that day come sooner. >> ownership defends its treatment of elephants.
it does acknowledge that change in consumer tastes are increasingly uneasy with animal performance. >> there's a level of thoughtfulness that people have. wow, i'm sorry. my kids won't be able to see the elephants in ringling brothers. but the great thing is we're doing everything we can to ensure they'll be around for many generations. >> taking care of the elephants is not cheap. each one eats 100 pounds of food every day. and annual cost is $65,000. >> well, don't feed them orange doritos. that's our next story. thank you, steve. steve of fox news. speaking of the orange dorito taco shells. following the footsteps of panera and chipotle, taco bell will be ditching artificial colors from their foods. nixing the neon covers.
replacing the black flavoring with real black pepper. they weren't using real black pepper. but they woke up and said this will be better business. don't be fooled by today's announcements. so-called natural ingredients can be as unhealthy as natural ones. the surprising new truth about food and flavor. before we get into the health aspects, can we agree that the movement toward natural foods are quite brilliant when you see how it's working for a chipotle out there which has been very successful. >> yeah, it's upending what people think of fast food. it's telling people, our food isn't what you thought it was. in that respect, as a marketing move, it's getting a lot of attention. absolutely. liz: okay. lots of attention. i can see why. when they announced they were going to do that dorito shell taco. you know what, we sent out and got a couple of those too tacos. i looked around to find what matched that orange
in that guy's hand. the one thing i found, it was a pretty close match. was my sneaker. that's not found in the natural world, mark. look, i give them props. why are you saying -- that you're skeptical of this move? >> well, i think some of the moves are good. they're getting rid of trans fats. unsustainable palm oil. i think those are good moves. it reminds us that the consumer is still king. the consumer can flex the muscle and get companies to change. the question is, how real is that change? flavoring is one thing i mention. artificial flavors frightens everybody. the word artificial makes them think they will get ccer. they use natural flavors. if you look up their ingredient list, there's about 29 natural flavors, as opposed to something like 12 in artificial. chemically speaking there's no difference between artificial and natural flavor. the word artificial sounds scary.
natural is every bit as synthetic -- >> if you're squeezing a lemon and you're getting lemon flavor from a real lemon versus concocting it. >> that's not what they would call it. they would call it lemon juice. what they do is find natural things like leaves and yeast that produce the chemicals they want. they extract these in a natural way, using heat or distillation, then they call that a natural flavor. but chemically speaking, it's the same. if you look in a flavor catalog, you can order these flavors. one price for artificial and one price for natural. they're the same thing. >> our viewing audience cares about the investment too. guess what, on a horrible day, yum brands just turned positive by a couple of pennies. i would argue that this news would send it much higher if we didn't have a drop of 20 points on the s&p 500. and i know this won't surprise you, over the past five years, yum has done well, up 127%. great to have you, mark.
believcome back again. i like your energy. okay. go have an orange. i guess in a way, we should mention too that doritos is owned by frito-lay which is owned by pepsi. will they stop sourcing their taco shells? we'll ask. we're calling the company. closing bell, 15 minutes away. adjust to being wrong that will stand you in good stead in investing. why my next guest says the stock market this year has been anything, but easy. those who adjust to being wrong quickly will win. and while the markets close at the top of the hour, we're on call for you at all times. foxbusiness.com/oncall. sign up for claman on call. we won't bug you with spam or anything. we'll just deliver the biggest headlines to your smartphone every day free. ♪ you total your brand new car.
nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to replace it. what are you supposed to do, drive three-quarters of a car? now if you had a liberty mutual new car replacement, you'd get your whole car back. i guess they don't want you driving around on three wheels. smart. new car replacement is just one of the features that come standard with a base liberty mutual policy. and for drivers with accident forgivness,rates won't go up due to your first accident. learn more by calling switch to liberty mutual and you can save up to $423.
♪ liz: let's go. here comes the "countdown" closer. ten minutes left until the closing bell rings. time for the "countdown" closer. jeff. raymond james managing director. three picks for your portfolio. nicole petallides. phil flynn with the number one thing to watch before the close. jeff, let's start with you. you have this saying. adjust to being wrong. i'm guessing that means you make a bad guess. be fleet of foot and change your ways. right? jeff: that's exactly right. if you'll be wrong, be wrong quickly for the smallest loss of capital. if we knife through the
2015 level, we're going down to the support level between 2090 and 2100. it looks like that's what we did. we're trying to get a bounce off that. we'll see if it holds. liz: 2105. you said we would see a nine to 11% gain in the s&p. are you adjusting to what you believe might be a wrong call or are you holding with that? jeff: no, i'm holding with that. we think you'll get a squishy second quarter on the economic front. but growth returns, earnings will come back as well. liz: we're getting the gdp print on friday. what do you like here, jeff? what are your traders that you respect? i know you're always quoting them. what are they saying to buy right now knowing what we know so far? jeff: we think uridium is a special situation. last time i looked in today's carnage, that stock was actually up. we think wire houser is a special situation. (?) also rated favorably by
my analysts. and the third one is just a play on demographics and health care. johnson & johnson which also has a favorable rating. liz: warehouser. it's interesting, we were live at a lumber operation along with tri pointe homes. they feel there's a big pickup in business. there's your warehouse play. right? >> that's exactly right. you're certainly seeing that in florida. >> jeff, thank you for joining us. jeff, chief investment strategist. we have eight minutes left before the closing bell rings. nicole, what's moving on the floor? nicole: tough day on wall street. vix is surging. energy stocks under pressure. as well as technology. exxon and chevron with down arrows. rig neighbors are lower. dow components with low arrows. dupont trying to squeeze one out. petroleum down 2.5%. overall, mixed economic news. a big sell-off here that we haven't seen in some time since early may.
down over 1% on each of the major averages. liz: in the grand scheme of things, 1% is not the worst in the world. at the low, we were down 238 points. we're off that at least. phil flynn, the number one thing, with seven minutes left, that you're watching. >> you have to keep an eye on any late-breaking currency moves. let's face it, liz, it was all about the dollar today. the dollar strength against the euro. fears about greece. fears about the us economy with interest rates. and sitting in fear as nicole point out, with the big spike up in the vix index. that fear is being played out more with a fight in the dollar. how much is this real? how much is it about interest rates or fear? if we see a late surge in the markets, what the markets will do tomorrow. keep an eye on the dollar into the close. liz: we had stanley fisher speaking over the weekend. he spoke again today. in essence, what he
really said was hikes will be gradual and relatively slow, but we're on track. it will happen this year. what do you think? >> yeah, but he did throw a caveat as well. hey, the markets should be prepared for interest rate hikes same way we should be prepared for life on another planet. but the caveat was assuming that we didn't -- assuming that that -- assuming we didn't have major problems in another economy. like europe. if greece defaults, the fed won't be able to raise rates. he did put that in there as well. liz: excellent point. again, we're sort of being held back by other countries too. phil, great to see you. thank you. now, the closing bell, five minutes away. the sell-off not letting up. we are off the lows as i mentioned. whether stocks are up or down, one sure thing. ceos are making some mega bucks. in one particular sector. look at this. entertainment and media.
david: nicole petallides at new york stock exchange. talk about indicator of all this the vix is way up, while the market is way down. was it economic data or worries about the fed that is driving this market from the beginning? >> throw in greece in there too. all of the above, dave. you're right on. we have a strong u.s. dollar. that weighs on commodities an equities. >> durable goods could be better. you didn't see demand for big-ticket items. vix coming off a very low point. big surge today. liz: we have tuesday morning, big story. time warner cable found another
fiance. will there be a marriage with charter communications right? >> experts say this is much more likely to get regulatory approval unlike with we saw with comcast. more exposure to broadband and pay tv customers. david: don't bet against john malone. oil way down. a lot of oil stocks going with it, right, nicole? >> right, david. that was a big losing sector. rig, chevron and exxon and nabors, anadarko all with down arrows. this area came under pressure. liz: many so of the solar names, first solar, falling into the red. this is a big haircut of 7.25%. it is worst performer on s&p. >> number one performer to the downside, down four bucks. rbc basically came out put underperform rating. cut their target by 20 bucks to $34 from 54. worried about revenue flat going forward. >> when dollar is strong, gold not so strong.
that certainly happened today. >> gold down $17. [closing bell ringing] david: bells ringing on wall street. boy, not a good day to begin the week after a holiday. traders skittish about a lot of things. whether federal reserve board, what is happening overseas. or some of economic data. look at economic data in different ways. that is the problem with data. sometimes the stats look good. sometimes they look bad. clearly in conjunction with what the fed might do in the future. all of this is time to sell stocks, rather than buy stocks. liz: at least today could all change. we had all-time highs for s&p 500. let's get to it. "after the bell" starts right now. liz: let's get right to today's market action. patrick of brandywine global. patrick is here which two sectors, wil k