Skip to main content

tv   Mornings With Maria Bartiromo  FOX Business  September 22, 2015 6:00am-9:01am EDT

6:00 am
i encourage other republican presidential candidates to consider doing the same so the voters can focus on a limited number of candidates who can offer a positive conservative alternative to the current front runner. sandra: it wasn't too long ago governor walker once led the pack installed. after we they form an says in a sharp decline in the polls, the money started drying off. i will talk to reporter anthony scarry michie later. if you're waking up right now you're looking at a global market selloff. driving this action. you are looking at dow futures up 235 points right now. s&p futures off more than 30 points. and yet the major average up roughly 2%. volkswagen shares getting hammered again admitted mission scandal. the automaker will cite aside
6:01 am
$7 billion in asia overnight stop posted modest gains there. the nikkei in japan is closed for a holiday. checking in on crude oil prices with equity futures selling off this morning. down goes oil. oil selling 2% right now at 4576 a barrel. more on these markets for you and where you should be looking to put your money coming out. back to politics, then person sitting by his comments about not supporting a muslim candidate for president. in a facebook post a facebook post he said he meant exactly what he said and called on muslims to renounce real law. hillary clinton set to unveil her plan to lower prescription drug costs. details include profits into research and development. clinton showed she has the power to move markets. we will tell you why investors aren't happy about that. washington gearing up for the
6:02 am
arrival of pope francis. he touches in the u.s. later today for a six-day visit. after visiting washington d.c. the pope will head to philadelphia and new york city. the west coast west coast to winning the revival of china's president xi jinping will meet with top business leaders included warren buffett, tim cook and bob baker. at the end of the wiki will head to the white house for a meeting with president obama. the administration offering up tough talks. treasury secretary jack was comments coming up. meanwhile, apple ramping up its efforts on an electric car. "the wall street journal" reporting that tech giant is aiming for a shipping date now of 2019. more details straight ahead. back to our top story. wisconsiwisconsi n governor scott walker dropping out of the presidential race due to poll numbers and shrinking cash flow.
6:03 am
>> sadly, the debate taking place today is not focused on the optimistic view of america. instead, it has drifted into personal attacks. in the end, i believe the voters want to be for something and not against someone. instead of talking about how bad things are, we want to hear how we can make them better for everyone. sandra: we will bring an opportunity editor john hart for his take on why we saw scott walker ballad of the race. >> scott walker made a fantastic speech and it's too bad he didn't have the same sense of clarity at the beginning of the race. he is not not criticizing tram. he's criticizing the way they had succession in the republican party. the american people want an optimistic message focused on solving problems. was in a race going to subjects which i'm sure will talk about. by attacking about muslims and
6:04 am
not the middle class and some candidate. he made a powerful statement, a principled decision and is absolutely right that the republicans should consider following his lead in dropping out so they can take on someone like trump who quite frankly with the disastrous general election nominee. dagen: that's the republican party's problems come you're not willing to embrace trump to a certain extent. he's leading the polls and he was weaker in the new cnn poll. again, this is a division in the party that spells trouble. particularly in his speech. >> there's a theory i believe is flawed. this is a race of outsiders versus the establishment. i would argue they were already dead and post-establishment times would have the citizenry, the electric taking over the conversation and that's a great thing in something i worked for
6:05 am
tom coburn for years been recovered as earmarks, challenge leadership and shifted the balance of power out of washington to the american people. conservatives have been on the ascent for a long time. i see trump is someone who would undo gains and i don't buy this argument he's the outsider. just because someone hasn't been elected doesn't mean they are not capable of pandering and we see that all the time. sandra: where does the attention that was on hand, where did those people go in l.? >> for scott walker? he didn't have a lot of support. he marries the conversation. he took a very humble step and said we had many people in the field. we need to narrow the field and focus the conversation. sandra: have we seen an implosion this rapid in the history of primary politics? he went from fourth or fifth to an asterix by one debate.
6:06 am
>> it's actually fairly common for candidates. rick santorum, rudy giuliani, a long list of front runners. rick perry had a great run last time. he didn't get traction this time. that shows the american people have a lot more power in the system than we realize outsiders like trump versus the establishment isn't true. sandra: i am still missing what happens to the race. how does his exit from the race, how does that change things? >> is just the conversation back to solutions. that is the hope. to the extent scott walker was a major or comedy of the governor, someone with an impressive record. i think he has a compelling case. sandra: why couldn't that inspire people? the candidate or the message? >> it's the nature of our media culture.
6:07 am
it is easier to talk about conflict and it is to talk about solutions. it is much harder to sell solutions. dagen: he followed. he got the least amount of airtime in the second debate. it was up to him to take the bull's horns and it did not do it. >> one thing you did see as his primary campaign manager moved over to rubio's campaign right away. you will see some of what john's point is correct, but little support he had will move to a john kasich, ted cruz. pulling that midwestern -- dagen: will find out from scaramucci coming up. sandra: thank you for weighing in on that. the major selloff that the dow set to open more than 200 points. we're down to 52 for the future is concerned and dropping to 1.5% am looking at the lows of the morning after they got. s&p and nasdaq not far down
6:08 am
there. this after we saw europe get slammed. so in midday trading and you look at more than 3% on the cac, france with a nearly 3% drop in london still down two and a quarter%. we are watching the global market selloff as many like her senior editor charlie brady wayne in saying the rally we saw yesterday was an altogether convincing. we see the suffering that has been the trend coming back in today's session. jeff we're poised for some major losses. what do you think is feeling the selloff is the million dollars question. >> it is a collage of events. the devaluation of the renminbi, the world's orange odp growth. my dad was a portfolio manager and he taught me dow theory. dow theory has made spectacular calls over the past 18 years. there is a signal that took last
6:09 am
august 24th and that puts me on alert. i'm trying to ignore it because there was a false signal in the flash crashed the last time the dow was off a thousand points during the day. it would violate the august 25th list i would get much more defensive of the overall market. >> use a technical spell out that exacerbate what we see right now. >> price always leaves the fundamentals. bottoms tend to be a process and not an event. i see a lot of dead v-shaped bottom and very few v-shaped bottom site last october 15th. >> what scares you right now or are you going to take a deep breath and see how this plays out? >> what we see in europe as a spillover from what happened with volkswagen. one in seven people are employed in the auto sector. if you look at volkswagen as a
6:10 am
whole, it is on a manufacturing standpoint the single largest revenue producer in europe. it is a huge piece of that. european pmi is going to be a brown manufacturing which been weak. the autoplay will not help as well. you are getting the widespread selloff on volume. that said, back to wherever in january and the ecb is still coming to the table with more stimulus. the year is still in its to go lower. sandra: looking at trading in europe this morning, volkswagen shares up 20% after the statement. transfer your french and german officials are calling on a full investigation into the entire auto industry related to the volkswagen. sandra: is it an overstatement to say while there are things like the dow theory and the selloff triggering technical selling, is it an overstatement to say this is a global market
6:11 am
selloff in way of life by the selloff in europe? >> that is a fair point. the fact that russia has moved more defensive missiles into syria with more aircraft is traveling the world market. sandra: will keep watching for you. hillary clinton may not be good or biotech stocks. the democratic presidential front-runner promising to unveil a plan to take on outrageous price increases in the space. that was her word, by the way. we will have more after the break. ♪ can a business have a mind?
6:12 am
a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? hi mi'm raph. tom. my name is anne. i'm one of the real live attorneys you can talk to through legalzoom. don't let unanswered legal questions hold you up, because we're here, we're here, and we've got your back. legalzoom. legal help is here.
6:13 am
6:14 am
it's how you stay connected. with centurylink as your trusted technology partner, you get an industry leading broadband network and cloud and hosting services. centurylink. your link to what's next.
6:15 am
sandra: hillary clinton the latter plan to fight price gouging by the drug industry. cheryl casone has that story. >> this article is something else. clinton responding to a jaw-dropping new york times story about a 5000% price increase for a decades-old drug used for cancer and hiv treatments. biotech stocks got them yesterday. here is what she treated her price gouging like this is outrageous. tomorrow the layout a plan to take it on. we will keep you posted. former peanut co. executive stuart parnell has been sentenced to 20 years in prison for his role in a deadly salmonella outbreak that this is the most severe punishment ever industry producer and a foodborne illness case. and made hundreds more sack resulted in one of the largest food recalls in u.s. history.
6:16 am
a big announcement on apple. the electric car to launch in 20 night teen according to "the wall street journal." what you see on your screen, artist renderings, not the actual car. we don't know what is going to look like. this is what it could look like. looks like a mouse. leaders call it tightened. they are hiring 600 people in the division to make this a reality. can you imagine a car that looks like a mouse. dagen: they always look way cooler than the production model anyway. sandra: there could be a lot of interest in this. obviously failed in a lot of interest. dagen: every consumer electronics that come out with aspen hangout fantastic. even with the bugs. cars these days are nothing but computers. sandra: it is true.
6:17 am
the report said apple will triple to 600 employee team behind the car project according to people familiar with the matter. they are putting some serious money in interest behind it. >> who is going to make it? do you hire an american automaker to team up with? >> you would have to outsource some of that manufacturing. they are software engineers but not the mechanical engineers. certainly to produce something that the car with a huge regulatory scrutiny, all kinds of issues. sandra: the reports that some of these have come from elon musk. dagen: that his wife never been done how i'm elon musk and test lab. particularly they haven't gotten the battery technology down yet. this is the answer to what you do when your $200 million in cash sitting around. hey, we are going to start a car come to me.
6:18 am
>> at the $2 trillion industry. the car is the ultimate mobile device. sandra: why not just by tesla, somebody else. dagen: it is not worth what the stock is trading these days. sandra: would you drive one of these? the >> yes, tesla is a kick in the shorts to drive. dagen: maria has. she didn't get all the buzz and then she finally got in one instead i get it. dagen: they've got to get out of that cheaper car. they sell over six figures. >> with apple being the innovators there's a time to enter the car market, one electric is taking off. both of those elements filter right in.
6:19 am
>> cheryl, thank you. governor scott walker stepping out of the race for the white house. who is next? the selling accelerating dow futures now down nearly 300 points. the dow futures are up 272-point. s&p futures down even more. sinking more than 2%. we've got our eye on this for you. we have more coming right up. sure, tv has evolved over the years.
6:20 am
6:21 am
6:22 am
it's gotten squarer. brighter. bigger. it's gotten thinner. even curvier. but what's next? for all binge watchers. movie geeks. sports freaks. x1 from xfinity will change the way you experience tv. sandra: i think this might be the first day of fall. today, tomorrow, something like that. but follow the way, prices of
6:23 am
pumpkins continued their slide. i asked viewers to tweet but they were seen in their home state and manager replied. robert said prices at the pump in tucson, arizona up $1.99 a gallon. can a treated in $1.83 in kentucky and the winner for lowest gas prices goes to check in ocean springs mississippi with $1.77 a barrel. without the pictures and without the treats. so fun standing by at cme. he loves to talk about gas rises, too. i was getting so many pictures of people sending me gas prices at one point i looked down and i said i think that's my sister. anyway, gas prices down all over the country. >> they are taking pictures because they don't believe it will continue. we are in a new era of low gasoline prices.
6:24 am
today is a little bit more disturbing when oil prices are falling. concern about global economic growth weighed on prices today. if you notice oil prices follow the stock market if you get a good day with the stock market in oil, the inverse is true. take a look at copper. copper getting smashed today with concerns about global supply and a structural demand destruction. dr. copper is the bellwether for the economy it's not looking good today. sandra: had been right there. i want to continue the conversation. as you are nodding your head and so was talking about the selloff in copper, while they take prisoners here and now, it seems the trend is still to the downside. >> the commodity thing peaked in the second quarter of 2010. they've been under extreme pressure ever since over the
6:25 am
long cycle commodities track incremental cost of production and oil is doing that right now. sandra: copper we like it is an indication of the global economy. the trend is certainly continue to the downside. oil a bit different. jim rogers around $40 because things are bottoming out. although goldman sachs at $20 is on the way. dagen: $200 call us about the time oil is peaking. sandra: the market is having a hard time with oil at energy prices. >> the supply demand fundamentals i think will get better for oil. it will be great but they will get better. together important thing thing to pay attention to that is getting messages for transmission effect, the gasoline prices in oil prices. the look of retail sales and how they track for q3.
6:26 am
retail sales are retail sales or 4.8% up in q3, which is a huge quarter. that effect is coming through into consumer spending which is what we want to see and what we were missing this year. a positive sign from an economic standpoint. sandra: good toy. phil flynn, is there any standup price level that things start to change that you are watching? >> you know, not so much because the economy is better but we are shocked how quickly u.s. production falls. that is the balance today. we are not done as much as the stocks are today because of that. sandra: will keep watching and see phil later on in the show. plus more volatility stock market selloff happening right now. much more coming up. a knack for predicting the future.
6:27 am
reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? i'm sure you know what this meeting is about. yes, a raise. i'm letting you go. i knew that. you see, this is my amerivest managed...
6:28 am
balances. no. portfolio. and if doesn't perform well for two consecutive gold. quarters. quarters...yup. then amerivest gives me back their advisory... stocks. fees. fees. fees for those quarters. yeah. so, i'm confident i'm in good hands. for all the confidence you need. td ameritrade. you got this. if an electric toothbrush was going to clean better than a manual. he said sure... but don't get just any one. get one inspired by dentists. with a round brush head. go pro with oral-b. oral-b's rounded brush head cups your teeth to break up plaque, and rotates to sweep it away. and oral-b delivers a clinically proven superior clean vs. sonicare diamond clean. my mouth feels super clean. oral-b. know you're getting a superior clean. i'm never going back to a manual brush.
6:29 am
6:30 am
tina is tuesday september 22nd and with me is raymond james's jeff spot, dagen mcdowell and wells fargo investment institute at darrel prompt. here are your top stories at 6:30 on the east coast, a sell-off on wall street that seems to continue and picking up some steam, selling following action in europe dragging down the lot markets, volkswagen, stocks slumping 20% in european trading and checking in on the commodity space as well selling across the board, weakness in oil, gold, you heard it from the trading floor in chicago, clobber prices on global, scott walker down and out of the tories, second republican to drop out of the race for the white house, walker bowling out, week debate performances, quieting polls and donations triangle, donald from generating buzz with this twitter town hall one of the biggest headlines, he
6:31 am
would not take the presidential salary of $400,000 a year. carly fiorina, the latest candidate to hit the late night circuit, she appeared on the tonight show with jimmy fallon. she stuck mostly to the issues but she had a little fun. >> i am lazy ♪ please don't take a walk with me ♪ i would rather stay right here at home instead ♪ i want to lie back down in my nice warm bed ♪ my name is stick and you are going to have to carry me ♪ sandra: the indianapolis colts falling to 0-2 after losing to the new york jets, often struggled at the jets' defense forcing five turnovers in the game, turning back to the markets it is a big morning indeed, 6:30 on the east coast and we're seeing a global market
6:32 am
sell-off. continues to accelerate, nasdaq futures down of of 85 points, loss of 2%. my next guest says market volatility does not end here. joining me is a mainstay capital ceo and chief investment strategist, what do we need to know on the sell-off? >> we will see volatility like this for awhile, started in august, the market looking for direction. sandra: retail investors have been scared out of the market, some said the widely missed record runup in equity prices because there was so much uncertainty and you are saying the wild swings are here to stay. >> wild swings are here to stay for awhile for several more weeks and we are in this period we have concerns over china, slowing global economy and the looming fed decision. as we get into earnings season right now we are looking at
6:33 am
another poor quarter for earnings, earnings growth consensus estimate 2.9% for revenue. we think there's opportunity for earnings surprises and that will be the catalyst for the market to get some footing. sandra: it is expected the energy sector will be weak as far as the reporting goes because of the drop in oil and energy prices but where do you expect positive surprises? >> energy very weak, if we take energy out of earnings, earnings growth actually positive. >> where we see earnings growth if you look at -- positive earnings and positive revenue. if you look at companies with isn't the 500 companies, a 50% of earnings out of the u.s. with
6:34 am
global economy concerns, negative earnings goes to double digits. domestic sales with small caps and madcaps versus large caps. sandra: in the signal we saw in august, when we see dow futures, there is a much bigger selloff that waits around the corner. and wants to sell off. >> we have the dow, all these things, looking at fundamentals if we look at the economy we are growing not robustly but growing. and participation and business
6:35 am
lending, the best since the crisis seven years ago. we are seeing good indicators for the economy and that one come through in terms of companies that can consistently deliver strong earnings, you will do well and this volatility has three four more weeks and the market finds its footing. maria: stick around because we want to know how volatility sticking around and how to play at the market. stocks plunging after the company admitted it screwed up by deceiving federal emissions regulators. nicole petallides has that story as we look at shares down double digits in german trade. nicole: absolutely and shares continued to fall, breaking news, shares of volkswagen down again this morning plunging 17% yesterday's so 25%, the company says 11 million cars could be
6:36 am
affected and it could take charge of nearly $7 billion. automaker's eo admitted to using sophomore to rig emissions tests deliberately fooling the epa and california air resources board for years and volkswagen faces fines that could add up to $18 billion being ordered to recall half a million vehicles across the united states. the justice department has reportedly opened a criminal investigation into the alleged cheating and fallout spreading into a chat and south korea launching its probe so we are just seeing now that german and french officials announcing their concern and their emissions tests and manipulation could be more widespread suggesting the investigation across the entire auto industry should be under way so we will watch the entire auto industry, the folks -- the focus of volkswagen, the audi a free to name a few, so these of the ones
6:37 am
that are underway and under investigation. sandra: we are watching auto sector close the. what is your take on the auto sector? >> generally we are now all at approaching peak sales, back to levels we haven't seen in many years in terms of auto sales in the u.s. trouble in emerging markets. >> better economy? >> very -- >> cheap financing and cheap gas. >> look at the great recession. a lot of pent-up demands can extend itself. 17.2 and 7.3 million vehicles in extended can run longer so it is good for the auto maker and auto suppliers. sandra: the point about sheet financing and cheap gas. >> and cheap euro as well if you
6:38 am
look at what dagen does nestle flagon and renault and the age of auto stocks is significantly old and. south korea and switzerland also coming to the table saying they are going to investigate further so this is open ended but the valuations the jeep and a enough to start to become appealing at some point because i don't think this possibly is as widespread. sandra: we are talking about obama auto sector in the u.s. and globally. in germany the dax off 3%, auto shares leading the sell-off, france down 3.5%, par shares leading the drop so the auto sector is leading the global sell-off. dagen: the justice department is investigating what volkswagen did in this country. this is going to be a horror
6:39 am
show for that company. sandra: thank you for joining us on set this morning and start your day with nicole petallides, lauren simonetti and "fbn a.m.," getting you ready for your day. they have just about everything you need when you wake up in the morning. once a gop front runner scott walker is bidding farewell to the white house. scott walker supporter anthony will weigh in on what went wrong with scott walker and his campaign. things are changing, keep it right here. (vo) what does the world run on?
6:40 am
it runs on optimism. it's what sparks ideas. moves the world forward. invest with those who see the world as unstoppable. who have the curiosity to look beyond the expected and the conviction to be in it for the long term. oppenheimerfunds believes that's the right way to invest... ...in this big, bold, beautiful world.
6:41 am
6:42 am
6:43 am
sandra: scott walker dropping out of the presidential race because of falling poll numbers and shrinking cash flow. blake berman has that story. >> good morning. incredible to think scott walker's presidential campaign lasted 70 days. at points he was running second nationally, first in iowa but amid the roading support and finances walker is half. after bowling out yesterday in
6:44 am
the wisconsin governor called on other current republican long shots to do the same and rally against donald trump. >> i encourage other republican presidential candidates to consider doing the same so that the voters convoke as on a limited number of candidates who can offer a positive conservative alternative to the current front runner. >> walker had a lot of may get donors. the race is on among the other candidates to gather up walker supporters. a super pac supported him, $20 million earlier this summer and had a $9 million least age and by beginning this month. sandra: thank you. joining us on the phone is one of walker's top fund-raisers, good morning to. >> good morning. sandra: you have been loyal to scott walker for a long time, you grieve the lot of money for him. what do you make of this?
6:45 am
>> no crybabies in politics. years ago, when he got paramount studios, one sentence press release, won, we lost, that is all he could say. the poll numbers suggested it would keep going. we had the cash, all harvesting strategy to stay in the race. he is calling on other people. sandra: did he fail with his message, is delivery, what went wrong? >> i don't think it worked like that. in your section the wave is sitting perfectly on your surfboard or the political current is going in a direction, 50% of the voters in our party have decided they want to get
6:46 am
the most important political job in the world arguably, people with political experience. unless that changes there is a lot of other career politicians that will have to do the same thing governor walker can do. sandra: donald trump notoriously, eyes a notoriously because it was or was not true, said at one point you one did to drop water and go with him, support from. to do you vote for now? have you chosen who you are going to support instead of walker? >> too early, out of respect for governor walker what i said to him yesterday when weaver speaking on the phone prior to his announcement dierdre and i in madison, i spent some time with him before moving to another candidate. take it all little easier, i worked for over a year, did
6:47 am
raise enough money but numbers are not there, not just the nominee but the poll numbers are not there. more people in the republican party at 1% and there are 1% in the country so these guys with 1% of the vote, out of the break, get it down to a couple of people and it will be much better for the american people to greet the republican voters. dagen: good to hear from you. you are not getting behind a candidate out of respect to the governor but is it safe to say you will not be getting behind donald trump? >> not safe to say that because i am a team player. this is our party. i think it would be safe to say that for the time being i am not going to be behind any candidate
6:48 am
until governor walker and i have a conversation. these -- this is i don't want to bring up -- all my sports teams are doing so well. i just want to win. we will find somebody to take on the challenges and republican side. sandra: join us bright and early, scott walker. out of the race. thank you very much, more on that in a little bit. bank of america chairman and ceo brian moynihan facing one of the toughest tests of his career. cheryl casone me has that story. shareholders vote today whether to strip brian moynihan of his role as chairman and ceo. the bank board agreed to give him the chairman of the board position without consulting with shareholders. of the bank loses today's vote it will name a new chairman.
6:49 am
meet spot, the latest version of all walking quadruple robot from boston dynamics which was tested by the u.s. marines last week, spot operates with electricity, walks on four hydraulic legs and is controlled by an operator who can be up to 500 meters away, electricity, not fried's but still that would be spot. back to you. sandra: these robots scare me. the battlefield dogs that hunt for aideed thes would save a lot of k-9 lives and keep savings soldiers' lives. those robots. looking at the markets futures are sinking, huge global market sell-off, dow futures up 230 points, isn't the down 29. the sell-off continues. federal reserve made the right call on keeping rates unchanged? when will officials raise rates? is that causing a sell-off? more on that.
6:50 am
6:51 am
6:52 am
6:53 am
sandra: checking these markets a lot of action to report, dow futures of 230 points, global market sell-off happening. we are off the lows of the session, we had been down 250 but sell-off of 1% across-the-board, nasdaq futures 1.8%, the big concern for markets over the past few sessions, the health of the global economy especially after the federal reserve decided not to hike interest rates. joining me, thanks for joining us this morning. why aren't global markets selling off? >> the fed and do anything right. when janet came out and talk about the state of the economy they realized is truly global. usually looking at what is going
6:54 am
on in the rest of the world's, the united states, when you have other people telling them let's wait here, she actually took that into consideration. if you look at what has happened and look at the terms of the fed, whether they are going east or not, only 2% growth. that has not changed. they america is the golden to the vet's next move. when is that rate hike coming? is it december or 2016? >> the chief economist has been calling for the last three years, said nothing before second quarter of 2016. she was a known liar then, not any more, we are still calling fact second place 2016. there has not been any change in growth, there hasn't been a change in inflation, no inflation, we don't think there
6:55 am
will be -- sandra: nothing to brag about this economy. >> the other side of the argument if you look at? gdp 3.7% rise a little higher q3 tracking 3% right now. if you look at disposable income of the u.s. consumer has more income than they ever had in history, more people employed. they should have raised rates but they moved away from it. janet yellen is willing to let labor markets run hot right now and in fact may be overextend on the unemployment side of things to try to engender some inflation in the economy. the fed uses the deflator as their primary but if you look at core cpi we had five months in a row of 1.8%. dagen: a scare of the markets and make people think the economy is wherever. >> how do you play this? >> you play it like we have been
6:56 am
playing it. i don't think there will be our praise him ready s. if you look at the revisions the unemployment numbers you can't agree what is really happening and look at the global and how the rest of the world is looking at it too, bank of japan didn't do anything but it will force them to do something before the end of october. sandra: the music is reacting you. thanks for joining us this morning, all good stuff and fix for walking us through the market sell-off, more coming up, stay right there.
6:57 am
when you do business everywhere, the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. at&t has the tools and the network you need, to make working as one easier than ever. virtually anywhere. leaving you free to focus on what matters most.
6:58 am
6:59 am
sandra: i am sandra smith, it is tuesday morning september 22nd and with me this our dagen mcdowell, she had to go to the bathroom, she will be right
7:00 am
back. keith mccullough and former massachusetts senator scott brown joel quince as, great to have view, to our top stories, wisconsin governor scott walker bowling out of the race without taking a parting shot at donald trump. >> today i believe i am being called to lead by helping to clear the field in this race so positive conservative message can rise to the top of the field. with this in mind i will suspend my campaign immediately. i encourage other republican presidential candidates to consider doing the same so voters can focus on limited number of candidates who can offer a positive conservative alternative to the current front runner. sandra: governor walker once led the pack himself not too long ago but after week debate performances and a sharp decline in the polls the money started
7:01 am
drying up and we have some breaking news on the markets this morning, you are looking at a global market sell-off here at home. a sharp sell-off with the trade a couple hours from now. still down significantly in europe, major averages up 2%, the big news of volkswagen, shares getting hammered, emissions scandal. and the automaker, setting aside $7 billion. more in asia, stocks posted modest gains, the nikkei in japan reminders closed for a holiday and checking on oil prices slumping 2%, we have more on these markets and where you should look to put your money. what is going to happen with the energy sector as far as earnings coming up?
7:02 am
a big topic of investors, back to politics this morning, ben carson standing by his comments about not supporting a muslim candidate for president. in a face book post he wrote that he meant exactly what he said and called on muslims to renounce sharia law. hillary clinton said to lower her plan to lower prescription drug costs, details of the plan include forcing companies to invest into research and development. and some investors are happy about that. washington gearing up for the arrival of pope francis wishy touches down in the u.s. later today. the pope had heads of philadelphia to new york city, the west coast awaiting the arrival of china's president's, stop in seattle and meet with top business leaders including warren buffett, tim cook and bob eiger.
7:03 am
at an end of the week he will head to the white house for a meeting with president obama, the administration already offering tough talk on july. treasury secretary jack lew's comments on that coming up and apple ramping up its efforts on an electric car. the wall street journal reporting the tech giant aiming for a shipping date of 2019. a lot of people dreaming up what that might look like, we will talk about what it means for the auto industry. wisconsin governor scott walker dropping out of the 2016 presidential race. blake berman has the latest on that. >> good morning, this was the meteoric fall for scott walker who announced his campaign 70 days ago. was running second nationally at one point, first in iowa earlier this summer but this morning amid e. roading support and finances walker is out. after abruptly bowling out yesterday walker called on other current republican long shots to do the same and to rally against
7:04 am
donald trump. >> i believe the voters want to be for something and not against someone. instead of talking about how bad things are we want to hear how we can make them better for everyone. >> the republican field that started at 17 candidates is now at 15. the iowa caucus, who is counting here? it is 130 days away. important because as times fades and expenses data is still remains to be seen how many make it to the first caucus but new hampshire, south carolina and beyond. sandra: i would say things are getting interesting but things have been interesting for quite some time. blake berman, thank you. let's bring in conservative review chief political correspondent and senior politics editor. thank you for joining us this morning.
7:05 am
starting with you first walker drops out of the race, what does it mean big picture? >> interesting politics. with walker dropping out of the wants to do it early on, he has the grassroots recognition, he did a good job in wisconsin, he was not able to separate himself from the pack and when you think about past elections governors generally were the ones who did well when they entered the races that this is a different story, not politics as usual. governors were considered outsiders, they are no longer considered outsiders and this is what we are witnessing with this particular race. the governors are on the opposite end of the spectrum, the outsiders are ahead of the pack. sandra: how does dr. robin out of the race change things in your view? >> scott walker was a favorite in iowa for some time until fairly recently and it was still thought that he could climb
7:06 am
back, but as said on your program the money started to dry up, he had a ton of shares, in our newsroom scott walker would say something and do was reliable, you could find he said something else in wisconsin. this at its core was a candidate problem. scott walker wasn't ready for primetime. that is why, the fact that he dropped out so quickly i think does reshuffle the race. we will see his big money donors going to marco rubio, carly fiorina who is one of the newer top candidates. i think in terms of money you are going to see a reshuffle here and perhaps the other candidates re-evaluating their chances. >> good morning. note backyard barbecues series in the house, obviously going very well, 260 for john kasich.
7:07 am
>> you invite all the candidates. >> carley is coming, linda grant, donald trump, i am talking about that because it is an opportunity for new hampshire voters to see them unfiltered, the ability to sit down in your backyard, grab a beer and hot dogs and ask questions and events in new hampshire, great turnout, very well liked, but you are right, in the debate heated and step up. >> jackie said it was a candidate problem. >> overshadowing the trump factor, trump dominating everything, look at the debate and the first week in questions go to trump and all the people are fighting -- this is what he said that i think was appropriate, we need to focus on the things that average americans are talking about, the debt, deficit, taxes, jobs, national security, immigration, not about rand pauls looks,
7:08 am
carly fiorina's looks, donald as i said and people in new hampshire are saying he needs to act and be more presidential. dagen: donald trump has hit on all those issues. he has hit on all those issues and is it foolish for people in the gop establishment including scott walker to say it is us against trump? he is hitting on something. if you are going to talk about divisiveness, that statement from scott walker was divisive. >> i agree. i felt his speech was shower grapes. why couldn't he just say made the best man or woman win? the kind of started his own little fight by making those comments and saying go after donald trump. >> politics is a blood sport investing in time, energy and money in this effort and you have anthony who put a lot of time and effort behind his effort to get scott walker elected president. it is of blood sport and there
7:09 am
are hard feelings and they don't all like each other. >> americans are tired of the infighting. i traveled the country and talked to people on the ground, they want to hear what policies will go into place, how will you grow the autonomy, have job creation, in urban communities. >> for these things, ultimately scott walker had some big things trump doesn't have, cut taxes and cut spending. dagen: they unions. >> he wasn't a fighter. you need somebody to fight for those principles. his resignation speech, pretty low energy. >> that was a major criticism of scott walker. he didn't have that gusto we have seen donald trump and other candidates come out with. >> you can't blame donald trump for scott walker taking i don't know how many positions on immigration. you can't blame donald trump comparing the unions, fighting
7:10 am
unions of fighting isis. you can't blame donald trump. so yes donald trump definitely set up a lot of that oxygen and made it harder for scott walker to bounce back from some of his things but at the end of the day this was got walker's calling his fault that this happened. >> would take command along those? two basic things, cut taxes and cut spending. who is the benefactor of him pulling out? >> everybody is going to benefit, marco rubio, bush and john kasich, where walker voters are going to head and we will see the shakeup but you look at thought low tier of candidates that is there they go in to follow suit or drop out as well because you have 76% of the people not supporting donald trump so if you narrow the field the numbers will be more in line with reality. dagen: i heard a lot of talk about spending. is that what they want to spend money on? we talked about this, varied
7:11 am
little -- talk about the economy and reducing the debt. sandra: we have not talked about hillary clinton and bernie sanders talking about spending and he is garnering bigger audiences at these rallies and hillary is. >> polls came out the people view hillary as a liar and don't trust her and again we have the fbi investigation breathing down her neck so she has a lot of problems with her campaign basically a woman is walking disaster but she brought it on herself. dagen: biotech stocks those somebody seems to think -- sandra: more on that in just a little bit if you haven't seen that story at. chinese president kicking off his u.s. tour today meeting with big names like tim cook. treasury secretary jack lew is calling on the leader to do during his time here next and look at the other big headlines topping the wall street journal
7:12 am
this morning pope francis's u.s. visit hurting delivery, businesses in new york city. when broker chris hill stays at laquinta he fires up the free wifi, with a network that's now up to 5 times faster than before! so he can rapidly prepare his presentation. and when he perfects his pitch, do you know what chris can do? and that is my recommendation. let's see if he's ready. he can swim with the sharks! he's ready. la quinta inns & suites take care of you, so you can take care of business. book your next stay at lq.com!
7:13 am
la quinta! but it is not the device mobithat is mobile, it is you.
7:14 am
it's more than a nit's reliable uptime. and multi-layered security. it's how you stay connected to each other and to your customers. with centurylink you get advanced technology solutions, including an industry leading broadband network, and cloud and hosting services - all with dedicated, responsive support. with centurylink as your trusted technology partner, you're free to focus on growing your business.
7:15 am
centurylink. your link to what's next. sandra: brian moynihan will face one of the toughest tests of his career later today, cheryl casone has that and more. cheryl: bank of america shareholders will decide whether to strip him of his role as chairman of the board splitting his current role into two jobs, the board agreed to grant him the role of chairman without first consulting those shareholders. we are watching us volkswagen, shares plunging after it screwed up by defeating federal emissions regulators, looking at this movement overseas extending
7:16 am
losses falling 30% since friday. volkswagen facing fines leading up to $18 billion and ordered to recall half a million cars across the united states. finally treasury secretary jack lew has a message for china. in an op-ed for the wall street earlier urged the second-largest economy to reaffirm its commitment to a consumer driven marketplace. and it will -- he will be arriving in seattle today. and the obama administration getting tougher when it comes to currency, i could go on and on. >> the things jack lew didn't address. unique to focus on the chinese consumer. that is being carved on china. >> smoke and mirrors.
7:17 am
they don't focus on the things that actually matter as you just referenced. china will do whatever china is going to do to deal with economic issues and the value of their currency, what they do is use every tool in the toolbox just like the united states. >> since jack lew is a world class of bureaucrats who doesn't have any kind of capitalist class in his head never mind going after the chinese on some real topic so this is just an example of american mediocrity in politics. dagen: jack lew said we made clear to china's officials they need to keep the commitments they made to the u.s. in international community. i didn't gravitated towards that. who cares what he says. i care what he told wall street journal, an extensive interview with him, a really good story. the chinese government does not engage in theft of commercial
7:18 am
secrets in any form or does it encourage or support chinese companies to engage in such practices in any way. >> he refuted what jack lew should have gone after him on, basically -- >> i'm going to china in two in days, i am meeting with a lot of business leaders there and trying to figure out, i should say understand what is the challenges are and the breakdowns in terms of dealing with the united states and the rest of the world. sandra: you have talked about this for quite some time, troubles in china leading to the problems we are seeing here. >> you can not disconnect the global economy from the u.s. economy, people saying that our marketing the u.s. economy, that is in the case since the prior two bubbles, it is 2015 and the world as more interconnected than it has ever been. the big story on the screen today is from china to germany to europe slowing. they put out their monthly report and outlined this
7:19 am
specifically, demand is slowing on the industrial side of the german economy, china flows through germany. the reality is people have not had to prepare for this in their u.s. equity portfolio. long bonds, good, equities not good. i think europe slowing is going to be an ongoing issue, the dax in crash mode down 21% since april, seen doing the same making lower lows, we talked about that last week, off-screen as a big socialist election in november, there will be more than greece going on in europe. sandra: will be bad for european markets and u.s. markets because of what the presence of china is saying which is defined the point that the won't change course or anything and the obama administration won't obama accountable. >> as far as i until they are not going to change trying to centrally planned their stock markets for change this thing called economic gravity. it is slowing and they are not
7:20 am
going to change the fact their obvious thing that flowing. sandra: we continue to watch the stock market sell-off at home, dow futures point to a sharp sell-off on the open, oil prices continue to move lower by more, after rallying 4% yesterday what is ahead for crude oil prices? that is coming up.
7:21 am
7:22 am
7:23 am
sandra: people tweet mr. cheney that prices around the pump, below $2, continuing the summer slide as we kick off all, yesterday i did see a lot of tweets from home states like robert saying gas prices in tucson, arizona, $1.99. the need treated us in kentucky
7:24 am
he has seen prices at $1.83 and from shut in notion springs, mississippi $1.77 a barrel he is seeing their. of the pictures, keep them coming, phil flynn standing by at the cme, i doubt you are seeing below $2. >> we are not seeing that. you need to get to far northern suburbs to get close to that but we had a few refineries glitches that could slow the sell-off in oil across the country to certain areas of the country, you may see prices dip up a little bit, but the longer-term trend is down. the trend on oil prices is down because if you look at this, chicken and egg king, are stocks leading oil prices lower or our oil and copper prices leaving prices lower? that is the big debate in the market but they are both down right now. obviously concerns about global economic growth, potential of rising interest rates and if the fed starts raising interest
7:25 am
rates that doesn't bode well for u.s. demand so you have to offset this situation of high rates versus lower gasoline prices to try to balance that out. considering the fact that the market is down, we are hanging in today because we are expecting a drawdown in oil inventory, the american petroleum institute will keep an eye on that tonight and keep an eye on oklahoma, that supply has fallen six of the last eight weeks, a sign that production could be falling faster than anticipated, wasn't supposed to happen. dagen: enjoy the while you have got them. phil flynn, great to have you and thanks for the update. we visited the stock market sell-off and commodities as well. scott walker, big news former director, on the fox business
7:26 am
network with liz claman on "countdown to the closing bell". >> the governors, 31 governors, but getting killed, and governor perry going 14 years, governor walker's campaign in terrible shape. >> as early as tonight scott walker -- >> it is about money, organization, iowa, new hampshire to gain delegates to move forward, these debates moved big numbers, 23 million people looking at you in the fox debate and the cnn debate making impressions. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
7:27 am
can a business be...alive? so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep it all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberry apple scones smell about done. ahh, you're good. i like to bake. add new business services with at&t and get up to $500 in total savings.
7:28 am
7:29 am
sup jj? working hard? here at the td ameritrade trader group, they work all the time. working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. . > . sandra: good morning, everybody. a big morning i am sandra smith for maria bartiromo, tuesday morning, september 22 this hour, joining us fox business dagen mcdowell, hedgeye ceo keith mccullough
7:30 am
is here former massachusetts senator scott brown your top stories 7:30 a.m., on the east coast, we are looking, at a global market sell-off happening right here, at home you are looking at stocks, that dow futures falling off 224 points, off lows of the session still looking at a significant drop, on the open a couple hours from now, this selling, following a sell-off in europe, you are looking at ftse off more than 2%, a sell-off more than 3% in markets in france and germany. this is the automakers decline on bad news for volkswagen stock slumping more than 30% the past two sessions, big news there, coming up in a minute we will have more on that, checking the commodities space selling off across the board, oil, gold, copper all down, in day's session reflecting the weakness in the glob economy, and you've got this, wisconsin governor scott walker down-and-out the second republican to drop out of the race for the white house bowing out amid weak debate
7:31 am
performance sliding poll numbers the donations drying up donald trump generating buzz with twitter town hall meeting yesterday one of the biggest headlines donate wake salary 400,000 dollars a year if elected, carl carl latest to hit the late night circuit fiorina appeared on tonight show with jimmy fallon lights moments spoke to issues did have a little fun. >> -- my name, and i am lazy, please don't take a walk with me, i would rather stay right here at home instead i want to lie back down in my own bed -- ♪ ♪ you are gonna have to carry me ♪ ♪ sandra: indianapolis colts fawn 0 and 220 jets defense focused five turnovers in that
7:32 am
game, campaign strategist ed rollins you called walker campaign suspension propriety, right here on fox business network factual to go liz clayman when you did it here we are this morning, he is out of the race. >> i am sad he is out he is an extraordinary governor, and could have one of e stars of our party, unfortunately, money and variety of things kind of in a reality debate, premis, and if you don't get the attention, in those debates you are not moving forward how to get attention when donald trump at the front kind of taking shots at people hard to talk about public policy. >> that is the issue are we going to see another candidate drop out in days to come. >> you are going to see lots of these, four or five. >> predictions. >> do i go through tell you who should drop out not my place to do. >> come on, please. >> -- well, it is about money, and are you real zero% 1% not real an extraordinary career as a governor somewhere, but
7:33 am
you know governor perry one of the best governors we had he is gone governor walker one of the best some others have been -- >> hearing you correctly i am so are to turn are you saying this is happening because of donald trump, in the race. >> absolutely, no question about it, and he is dominated news media, polls, 444 people measured in cnn poll doesn't mean not accurate where people are historically you run races you win iowa a new hampshire very important place you win south carolina, you start gathering delegates people make up mind in new hampshire, they want to see candidates feel the flesh, no i we have big national debates a big poll after debate people say he won he lost. >> does this make room for a candidate like john. >> at the end of the day who can govern understands the process. >> kasich i talked to -- >> i sorry, it is early.
7:34 am
>> john kasich, outstanding governor he is you know, again hasn't got if anything, those in the debates he will have, but -- is going to hang in there comes from very critical state, we can't win presidency without ohio he has been extraordinary things there, my sense is he is going to hang in there not quit doesn't carrier what numbers are very, very important. >> we had over 260 people for the governor. and he was very, very well received. and you look at scott walker, went to two or three events with him in new hampshire just to see how reaction was, people loved him in small settings, he did exceedingly well as referenced larger deans you see him 20 plus million people he really did not shine, i think that was one -- >> one of our former colleagues here, one of the great debateers of all time mike huckabee gets no play in debates when i was chair of his campaign 8 years ago he moved to the forefront because of the dean, nobody gets any time now except donald trump. >> ben carson got his own
7:35 am
energy, shall we say, he is stilling hanging in there i wouldn't say energy. >> yeah but -- >> a lovely man, and -- at the loves him at the end of the day, here some there are two or three going to hang in there, i think, but you've got to have money control your spending, walker part of walker's problem he had 90 people in madison wisconsin four in iowa that is not a good -- >> i want to bring up because there has been -- you hear often that if you've got a super pac you can stay in this race as long as you want regardless how far do you in polls that is not true. >> not true for the simply reason the foolishness of super pac i would much rather have 100 million dollars in malibu as bush does you've got to have money to run your campaign hire people, structure. and, you know fine for guys to give 55 million, 10-million-dollar checks when you get down to the big game spend heing money on television, but the day-to-day
7:36 am
aspect of organizing, places where there iowa, you've got to pay for that a federal election support campaign, most have raised super pac, walker still has money in super pac, hasn't had men and women in day-to-day account you have to harbor that money listen to professionals in places like iowa new hampshire elsewhere because no matter what is happening now, those two states, will change the dynamics. >> showed a clip of carly fiorina late night showing us her lighter side, she made a rapid rise very well who you could you characterize. >> she was bottom of the pack got into cnn by sort of, the configuration dean where she did well on smaller group, i think she will do well as she motion to suppress forward what she is going to find going to get attacked record looked at every way, shape or form what people don't understand about the political process if you've been a governor a senator you know how process works people say
7:37 am
we don't wander insiders weigh on the outsiders you have to make it work at the end of the day the governor has to work with a legislature a senator has to work with colleagues government we don't like -- donald trump wants to build a wall promise you all things he can do, you know, at the end of the day where is he getting the money how getting mexico sign off how you do all these things. >> do you think this is done before california that we will have a nominee before. >> i don't know that california would my sense is trump's base, stay there, 15, 20% who are not moving away from him so you can win a lot of delegates with 20% of the vote, and so my sense is we could alleysly have everybody wants big convention i was in with reagan in 76, we could easy come to have cleveland not have a nominee with -- >> have that is. >> running a banner walker out scott walker out of the races who is next you called that he would be dropping out. >> i think governor pataki
7:38 am
with all due respect three-term governor not going anywhere governor christie jindal not going anywhere they may stay in the race but not going to be viable candidates at this point in time i think two governors that will stay in governor huckabee will stay in because a different base, the evangelical a business, the series governors would emerge as time goes on. >> thank you for time for being here. >> thank you. >> apple shifting gears reports say tech giant targeting 2019 for rumored electric car jo ling kent on that. >> tech giant car plans initially focus on integrating smartphones software in cars now a full fledged effort to build a wholly elect car by 2019 according to reports including "the wall street journal" pleerdz of the project code titan has been given permission to triple 600-person team working on it at apple shears of apple spiked slightly yesterday afternoon currently about even
7:39 am
in the premarket, tesla dipped, apple declined comment, volkswagen shares plunging after company admitted it screwed up deceiving federal emissionsing regulators sproeks faces fines could ieds up to 18 billion dollars ordered to recall half a million cars across the united states. and coming up, we are staying on the road nissan ceo joining us with a new look at the company's latest model, and keeping an eye on futures, the dow now down more than 200 points, in the premarket. keep it right here on fox business. .
7:40 am
7:41 am
7:42 am
7:43 am
sandra: okay welcome back everybody, quick rundown, out on plaza at fox we've got the chairman ceo nissan motor company what a day to have you thank you for being here. >> thank you. sandra: first on fox business, of course, we are looking at markets global market sell-off happening right now markets in europe are selling off more than 3%, on this news, on volkswagen
7:44 am
disposal, that they sold these cars with fakes emission results opened investigation your thoughts on that this morning? >> well, look, it is unfortunately, obviously, most of it will come we need to know more about it to have a clear opinion about what is going on, but in the case of nissan, you know in united states he don't sell diesel engines not something of our concern. sandra: would concerns about investigation. >> we don't have diesel generals don't produce them don't sell them, and, you know. sandra: i asked simply because your stock took a hit yesterday, on speculation that it could be -- to this. >> whole industry has been down because this suspicion the problem is much bigger than what we think so far so far the facts are pointing to a specific isolated incident. sandra: got you, automakers getting hit hard this morning nonetheless you are here to celebrate --
7:45 am
>> exactly. sandra: what is it this is the new. >> new, for us also -- sandra: why so important for you. >> because this is the most sold nissan car in united states more than 350,000 a year, and this is the second most sold car in this category, very popular in the u.s. second largest segment of the u.s. market, what a we call the mid sedan. sandra: this particular car, is a hot seller for you right now, and middle of a very hot you know, auto sale market in general why globally are auto sales so strong. >> there are some, because there is a lot of innovation as you know, now the most sold cars in united states, a compact other suv first year this segment number one in united states, is to -- this car, this segment, so lot of technology a lot of innovation a lot of design, you know, new power train, new performance,
7:46 am
everything is accounting for -- >> what do you examine this car to do for your company as far as financial results. >> got to be very good for us because we are growing in the u.s. severe increasing our market share in u.s., we are -- 10% market share aiming, this car playing a very important role. >> as we look into apple story talking about new electricity car covering this as well, what is your vision, for nissan, and electricity car business apple obviously sees a big opening in the market. >> we are the -- best seller in terms of electricity cars we sell more than 50% of electric cars, worldwide. sandra: what it might look like, by the way, showing a picture of it. >> nissan is most sold electric car in the united states we are very proud of it we are going to be the leader continue to be leader so we accept any challenge coming from anybody, i think, this is part of the future of the industry as you understand cars locate cars in particular. sandra: schooin has been a huge story for us for the
7:47 am
market for car sales pretty much everything this is the growth story the growth engine, as far as the global economy has been cornered, that story has not exactly come to fruition china's economy slowed down quite substantially. how does that impact you -- >> well, the growth in china, has slowed down, but in the absolutely no recession, in car sales weigh don't see recession in car sales in china, except that we used to have a double-digit growth last years going for a single digital growth between 5 and 6% still additional one million car a year in china. >> the globally what are you seeing as far as growth. >> i think we are going to be on an average, 2 to 3% growth in 2016. a one to 2 percent growth in 2015, so, you know, very moderate growth made of very different situation between united states, very strong, europe, recovering strongly, and markets really in --
7:48 am
brazil. >> consolidation has been a huge theme with automakers anything in nissan's future. >> we have been you know talking about consolidation for many, many years the lines, nissan, is the result of the consolidation of the industry many ways he merge partnership, account corporations, i think we are going into this dress, but going to take many forms. >> i want to dial down to a consumer level talking so broadly big picture when it comes to automakers auto sales for nissan as far as the consumer we talked about electric car business what does consumer want who you are you adopting to that psychological is changing a bit we talk about millennial generation here in america, they want different things. >> yeah, the consumer wants convenience, you know wants convenience, he wants transportation, which is exciting but at the same time extremely convenient, love zero emission cars electric cars except they want charging
7:49 am
they don't know what to charge because of it one of the biggest hand caps for the development of zero emission cars electric cars we are working on that. >> i want. circle back to investigation we are celebrating the beautiful -- but this is big news i do want to reiterate u.s. volkswagen says we totally screwed up. how do you think he is handling the situation? >> well, i think we need first to know, what happened exactly. why these kinds of decisions -- you know, everything we are seeing so far have been taken, before -- so i am waiting for the moment we need to know more about the fact about the decisions, before -- sandra: here it is new car going on on plaza great to have you here, you astounded optimistic about the automakers. >> i am nissan in general. >> i am. >> great to have you sir have you on the plaza, we are going to be right back, guys market sell-off we will have more on
7:50 am
that coming up. ♪ baby ♪ ♪ signed sealed delivery i am yours! ♪ ♪ here i am, baby, ♪ oh, got -- ♪ ♪ the promise of the cloud is that every organization has unlimited access to information, no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people,
7:51 am
whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good.
7:52 am
7:53 am
sandra: welcome back i am cheryl casone a look at markets this morning, again we are expecting a huge sell-off on wall street when markets open, a about an hour and half from now as you can see the dow scene nasdaq all pointing to extremely negative numbers when that bell rings 9:30 a.m. eastern time, loss of more than 1% for every one of those indices we will post you, of course, we are watching news, in the food world, a former
7:54 am
peanut company executive, is going to jail for his role in a deadly salmonella outbreak stuart parnell sentenceed to 28 years in prison severe punishment handed out to producer in food he he borne illness case outbreak 2008 and 2009 made hundreds sick one of the largest food raultz in u.s. history, hillary clinton taking i'm at drug industry former secretary of state responding to a jaw-dropping "new york times" story about 5,000% price increase for drug for cancer and hiv treatment, biotech stocks slammed yesterday amid the controversy here is clinicupon, price gouging like this in the specialty drug market is outrageous, tomorrow, i will lay out plan to take it on. secret service taking heat after ordering a crowd of parents in a children's to leave lafayette square in washington over weekend participating in a cancer
7:55 am
awareness vigil to raise funding for childhood cancer secret service director clancy has apoll apologized for that incident, pricey water house coopers could offer a benefit to employees starting july paying up to 1200 bucks a year towards student loans up to 6 years 7200 dollars for students. >> all right. cheryl thank you, more on hillary clinton's are we doing a market check, by the way, take a look at markets we do have a sell-off happening right now, on our radar we are watching dow falling 215 points right now s&p down 27, nasdaq futures, down 71 points we are an hour and half away from opening bell about losses more than 1% across the board, well off the lows of the session, but still a lot of weakness more on hillary clinton health care plan, keith mccullough cannot wait to weigh in on that look to go lower prescription drug costs, coming up next hour, bill, former ceooh high mark health
7:56 am
weighs in. ya know what he becomes? great proposal! let's talk more over golf. great. how about over tennis? even better. a game changer! the ready for you alert, only at lq.com.
7:57 am
done my -- .. we've got trouble in tummy town.
7:58 am
peptocopter! ♪ when cold cuts give your belly thunder, pink relief is the first responder, so you can be a business boy wonder! ♪ fix stomach trouble fast with pepto.
7:59 am
sandra: good morning. and xander smith and for maria bartiromo. with me a spot business is dagen mcdowell, keith mccall at and former massachusetts senator scott brown. wisconsin governor scott brown bowing out -- i'm sorry, scott walker bowing out of the 2016 race. a long morning so far. not without taking a parting shot at donald trump. >> today i believe i'm being called too big by helping to clear the field in this race so that a positive can there be of message can rise to the top of the field. with this in mind, i will suspend my campaign immediately. i encourage other republican presidential candidates to consider doing the same so
8:00 am
voters can focus on a limited number of candidates who can offer a positive, conservative alternative to the current front runner. sandra: governor walker once led the pack himself. after debate performances and a sharp decline in the polls, money started drying up. breaking news this morning. we are watching a market selloff in and they open an hour and have hour and have come the dow futures up to seven team. markets in europe down as well. major averages off roughly 2% across the board. life is a percent of brain. volkswagen shares getting hammered again amid the missions to handle in the dax in germany. the automaker will set aside $7 billion for this crisis. overnight stocks post modest gains on the flipside. nikkei in japan is closed for a holiday. checking in on crude oil prices
8:01 am
something more than 2% at $45.40 a barrel. more on the markets for you and where you should be putting your money right now coming up. then person standing by about my support in the muslim candidate for president. a face that pose he said he meant exactly what is meant. bill clinton set to unveil a plan to lower prescription drug costs. details of the plan include inmps eit ul sshs po ves noppou th riofe cibid for his six-day visit after visited washington d.c. the pope will head to philadelphia and new york city. the west coast awaiting the arrival of chinese president xi jinping will stop in seattle meet with his leaders including
8:02 am
end if the bt will head to the white house for a minute with president obama. the administration offering up tough talks on china. treasury secretary jetblue coming up. apple ramping up efforts on an electric car. "the wall street journal" reported that the train does it mean for shipping date of its first electric car of 20 meg. wisconsin governor scott walker dropping out of the presidential race. let's get to blake burman with the latest on the story. reporter: this was a meteor fall for scott walker: not his campaign officially 70 days ago. first in iowa, but this morning their finances with walker out. after abruptly bowing out yesterday, walker called on long
8:03 am
shots to do the same. the rally against donald trump. >> i believe if the voters want to be for something and not against someone. instead of talking about how bad things are, we want to hear how we can make them better for everyone. sure reporter: republican is 130 days away from today. the question going forward they continue to add up how many candidates won't make it to the caucus and beyond as you heard ed rollins tell you a while ago this could be weeks or days. sandra: latecomer thank you. let's bring in jeff hyde commits your peak communications strategist and chief of staff under eric cantor. were you surprised by the exit?
8:04 am
>> not at all. we've worked for weeks and for what an overall strategy has been for scott walker. we saw more situational strategy, not a long-term strategy by the last debate he not talk about how scott walker needed to perform well at one debate tells you he was on the road with no long-term viability. when your trouble appealing to supporters that affects your finances, too. scott walker had to get out of the race and did the right thing. sandra: how does this change things? >> it allows more room for the conversation. you saw scott walker's comments last night talking about viable conservatives. it shows a donald trump has taken over the entire race and anything he says or does run sober and a real substantive message the candidates try to get out.
8:05 am
are you more room, but let's are member scott walker didn't have a lot of supporters and less than 1%. it's not clear anybody will benefit just yet. >> for me we are getting down the line here of realizing that the weaknesses are in candidate to me open the discussion of the actual debate about that i should be running on with leadership. are you running on low taxes, cutting spending, non-protectionist trump rhetoric. do you think this opens the door for somebody to say things like that? >> i think so when i sure hope so. please go ahead. sandra: no, you're the expert. please finish. >> i don't know about that. they have come down to questions of substance on policy. that is where you'll see what is
8:06 am
where you will see whether it's marco rivera jeb bush, even bobby jindal talk about and where they faltered in the last debate. nobody's listening. >> when he handed in last night come you can see the low-energy was hitting a lower low. >> he said that earlier. with all due respect ever in 13 races and it's difficult to give a concession speech or sam done. i can imagine what he would be going through because he is a great guy. when i was in new hampshire he had ray crosby was talking about things people care about. he's not a guy who will interrupt. very nice, cordial comers: not necessarily yelling. sandra: he pressed and pressed and make up the least amount of time of any candidate on that stage. >> i wasn't there. i was advising them.
8:07 am
i hope other people drop out to make another more narrow field and focus on the issue. i agree with what was just said. i want to build a wall. i want to make is the greatest military. we are in 17 plus trillion dollars national debt. sandra: at donald trump is leading the polls as much as he is by saying those things and putting them for ideas out and not explaining how or why. why get into details. >> many would argue specifics on foreign policy details. who will get specific on free-market capitalism. >> donald trump barry specific non-protectionist policy. sandra: last word to you. we've got to go. anybody who you would be willing to say is next to drop out of
8:08 am
the race? >> people at the lower tier, people in the happy hour debate have a problem. this emphasizes will have a strong and well-funded super pac is nice. and a strong strategy to implement the plans. sandra: thanks for joining us this morning. jack lew has a message for china in an op-ed for "the wall street journal" with the second-largest economy to reaffirm its commitment to a consumer driven marketplace. we call for china to reassure its global partners that will protect foreign investment. i know dakin and keith had some choice words about this. >> she's going to do this and it will be your platform. top-down shooter tried to take pricing power from companies that have earned it. this is a free market. go to the marketplace and lesser
8:09 am
price and people demand your products at that price. satisfy investors on the biotech. biotech has been one of the bellwethers that we saw peak in april. you can see the volume capitulation. the market up on the day and biotech down 4.6%. it is now what we call bearish trend. unless hillary retracts that, what is the biotech to do rather than worry expanding upon what dagen and i were talking about before. she specific on what she thinks is going on here. >> i said this to a presidential candidate i'm one of the biggest issues he will have to address as the cost of drugs across the board, particularly new drugs. the hepatitis c drug coming out. it's a huge burden on medicare
8:10 am
but then you have people who wind up hanging and go bankrupt. the person you what i'm all were shuffled out by his handlers and he didn't want to hear about it. well now, you've got bernie sanders and other democratic candidates talking about medicare needs to negotiate the job. sandra: bernie sanders loves it. >> or lack of regulatory certainty and the cost of bringing drugs to market is the big challenge. margin of long anyone to save lives and you may have an orphan drug and you go into the fta and they give you a plan in midway through they change the plan. how do you solve it?
8:11 am
>> it would be nice if somebody like you shared the balance of the argument. but i didn't expect to see here is a polarized argument putting under the microscope a cheap drug versus the highly priced drug and how they mess of the people of the country. there needs to be a leader but my bed issue makes this a big topic and a big market problem is a big plus. >> or tweet was about a "new york times" story where you have companies coming in and buying drugs and jacking the price. tran judicious in from the chairman and ceo of goldman sachs lowered went fine who's written a letter saying he has undergone a series of tabs culminated a biopsy last week. he was told by a stock as he has lymphoma. fortunately his form of lymphoma is highly curable and his doctors in his own expectation is he will be cured.
8:12 am
boy blanket i'm has been diagnosed. dagen: he does have to have chemotherapy so it's clearly a metastatic cancer. sandra: he will undergo chemotherapy the next several new york. he says he will work substantially as normal meeting the firm. he will reduce the previously planned travel, but he will continue to work. again, what went fine telling shareholders, clients that he's been diagnosed with lymphoma. dagen: we should point out jamie david had cancer and worked throughout his treatments. he has detailed his battle with that. it's tough but not impossible. >> he's anxious to begin the treatment. trying to we will be right back.
8:13 am
8:14 am
8:15 am
8:16 am
sandra: breaking news. goldman sachs chairman and ceo being diagnosed with lymphoma. >> we've been going through the memo he wrote these two employees at the farm. after recording about this for a new diagnosis. late this summer after several weeks of not feeling well i underwent a series of tests which culminated in a biopsy last week. i was told i have lymphoma. fortunately my farm is highly curable and the doctors have my own expectations are that it will be cured. he goes on to say will scale back untraveled that he continues to run goldman sachs and goes on to tell employees he will be in full capacity professionally as he deals with chemotherapy and it will be his choice here. the stock is down in the premarket but we should
8:17 am
quantitatively do have a market selling off before we got the news on goldman sachs looking at a rough open a wall street. lloyd blankfein telling us in the bank that is very positive he will continue to run the bank. >> it's a very difficult day to share so publicly but explaining to shareholders who will work as he undergoes treatment of chemotherapy. >> he definitely has to disclose for us. to react to news that that is very difficult. thoughts and prayers to the blankfein family. in the spirit of attempting to pay that, we are talking about the biotech story. when you think of blankfein is hope, the innovation in the pipeline has provided that
8:18 am
opportunity for humanity overall but this country in the stock market invested in it. i have a hard time and they are trying to outdo bernie sanders. we are talking a lot about it during the break. sandra: we are talking about two different things. hillary's comments on the biotech industry. we should note this is a highly curable form of lymphoma and he does believe he will be cured. dagen: he is going to do chemotherapy. jamie dimon had a tough round of chemo for think he was bolted to the table and how they had to administer the chemo. it's totally possible for these guys to run his company is. i will point out it's better to
8:19 am
know and inform the shareholders. remember how little we knew about steve jobs battle until it came out later. >> you physically deteriorated on stage. trade area we didn't know he had a liver transplant. >> these guys and gals are superhuman. sandra: israel and russia reaching an agreement in order to avoid accidentally treating fire. we'll have the latest in the details on that next.
8:20 am
8:21 am
8:22 am
sandra: breaking news. lloyd blankfein has lymphoma.
8:23 am
after not feeling well i had a series of tests which culminated in a biopsy last week. i was told by my doctors i have lymphoma. my form of lymphoma was highly curable in my doctors and an expectation as i will be cured. shares of goldman sachs are falling imad news. israel becoming the latest country to boys can turns over russian military involvement in syria. benjamin netanyahu meeting with russian president let america yesterday to develop a plan to avoid clashes in the region. joining me now is intelligence operator news correspondent leah gabriel. >> i think what we see is benjamin netanyahu same is benjamin netanyahu saying that guy finishes in the area. now i need to de-conflict because he's seen the large buildup of military forces. we are singing of course the big
8:24 am
one is a former fighter pilot comes to my notice is the service to air missile sites pressure put and peer there is an issue d. complexion. nobody knows what putin is doing now. he's playing a big diplomatic game of chess and right now we are losing. we really can't offer of military to military conversations after russia took crimea and now russia is doing what they are doing and causing us to come to the table and reopen conversations. and now the missile sites. >> israel and putin have meetings that do conflict and we supposedly will take out their machine. we weren't going to do it. we were going to draw the red line and here we are.
8:25 am
it is like a chess match. we can't go here. putin is asserting himself, making russia a player. we are coming to the table. here we are once again playing catchup. >> you have to look at what's going on in the bigger picture. one of the key point is naval power, see power and how we see russia flexes muscles and that is fact. the forward operating base, lockheed about an hour drive north of the russian port on the mediterranean. that is thoroughly warm water port other than the one i took in crimea. >> financially the nation is flat on his back because of the total collapse. is he trying to stir up trouble
8:26 am
double sent oil prices higher? >> he will do anything. dagen: what comic keith, what? >> you can realize a place on the board even if you lose all of their power otherwise. to me, the power card and now he's putting asset in a perfect place where he can be a player. sandra: his actions are definitely speaking to the world. thank you. hillary clinton and bio check it by the democratic front runner is targeting price gouging in the biotech industry. stay right here on fox business. a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul?
8:27 am
can a business be...alive? ...
8:28 am
8:29 am
>> all right. good morning, i'm sandra smith in for maria bartiromo this morning, it's tuesday, september 22nd. with me this hour is fox business's dagen mcdowell,
8:30 am
hedgeye ceo keith mccollough and massachusetts senator scott brown. chairman lloyd blankfein revealing to investors that he has a highly curable lymphoma. goldman sachs trading just down, looking at the broader market we've been watching a global selloff. a lot of waeakness headed to the opening bell an hour from now. and s&p futures off 30 points. the selling here is following action in yur to the down side. and you're looking at markets there, down more than 3% in france and germany the ftse in london down. and dragging down the markets, particularly in europe, volkswagen. the stock slumping more than 30% over the --
8:31 am
just the past two trading sessions and emissions testing there and cars sold with fake emissions test. and we talked to carlos ghosn about that. checking out the commodity space. ar he-- you're looking at selling. gold prices and cooper a loser, down 3% on the session. we're also watching politics this morning, a lot of breaking news there. at the top, wisconsin governor scott walker, he is out of the race, walker becoming the second republican to drop out of the race for the white house. the decision coming amid weaning debate performances, sliding poll numbers and donations for him drying up. more on the breaking news, this moments ago, goldman sachs, lloyd blankfein has been diagnosed with lymphoma. joining us is former university department of defense health official, and joining us by phone is dr. robert zaborowski
8:32 am
who is a non-hodgkin's lymphoma survivor. first, without any speculation because we don't know the details of his lymphoma, but he expects he's going to be cured. that it's a highly curable form of it. what does the treatment look like for him the next few months. he'll undergo chemotherapy for him. >> first of all, my thoughts are with lloyd blankfein. nobody would want to be facing lymphoma or any kind of serious cancer. it sounds like, from what has been presented it's an early stage of lymphoma, there are two different kinds, non-hodgkin's lymphomas and hodgkin's. and that can vary in terms of severity or how extensive consist. it sounds like, again, don't know, release is limited that this is early stage and would
8:33 am
be treated particularically by a regiment of chemotherapy drugs. if you have a more up-to-date physici physician, i was an internal medicine doctor for many years. sandra: and you're a survive yourself? >> yes. sandra: what was that like? >> the diagnosis is actually startling, but understanding some of the current research that a lot of lymphomas are curable shall the treatment itself depending on which regiment is recommended can be pretty devastating. so, if we can understand a way to mitigate the side effects through nutrition and targeted supplements, it was pretty impactful for me to go through it. sandra: so, i also want to get-- move on a little bit from this as we do learn that lloyd blankfein is suffering from lymphoma and is going to
8:34 am
undergo treatment and you kind of took a turn from this, keith mccollough, to the news from hillary clinton, sending out a tweet yesterday that sent biotech stocks into a rapid tumble. and you sort of tied the two together. i don't know if it's a bit of a stretch. >> everything on ttv is a stretch. and relative to the decline of the volume embedded in that decline. when you see something go down, it doesn't always matter. if there's a lot of volume when it's going down, that matters. this is a secular that led the growth stories in the u.s., an organic growth stories on the hook from china and everything else slowing. a, it's not going away. it's political because hillary put it on the tape and difficult to manage day-to-day. this thing started really with a tweet. where did that kind of leave us. sandra: she fired off a tweet, the full story, and bill, i want your take on this and get
8:35 am
you in here, too, senator, go price gouging in the biotech drugs and the whole biotech industry and anybody who trades or bets on them sent them in a spiral. dagen: she tweeted an article the new york times wrote, about one off hiking the price. >> i saw it and read it, i think it's a bit unfair to cast this sort of black smudge on the industry, it's just not care. i think this is a case of sort of cynical opportunism, if you will, on the part of both the ceo and the head of this pharmaceutical company, by the way, doesn't look to be such a reputable figure. he is 32 years old, no history this health care, no history in the pharmaceutical industry, sued by his-- or you know, a lawsuit by his former employer and clearly went in to make money. that's my take on this.
8:36 am
on the other hand, what concerns me with the reaction with senator clinton is the painting of the brush across the whole industry. sandra: sorry, bill. by the way, in the tweet she said price gouging like in in this specialty drug market is outrageous. and tomorrow i'll layout a plan to take it on. that's it. >> and her plan which came out this morning has limits on out of pocket costs of $250 a month for pharmaceuticals. so, that's $3,000 a year and she wants to regulate the r & d that company must spend. my problem with that is it's heaviy into regulating the pharma industry. what i had a he like to see, i'd like to see the fda make it easier for generic drug
8:37 am
companies to make a new product. this is a product that's been around for ooh years. >> i want to give doctor-- you've got the last word here, one round to get in. but is something like this dangerous to the biotech industry? >> are comments dangerous? >> are her comments, hillary clinton's? >> yeah, i think so. again, we're arguing about insurance and what is going to be paid, but i think what we have to focus on is really the patient that's going to go through it. sandra: gotcha. >> keith, you said biotech. biotech and pharma, that's part of revitalizing our industry and they're once again going after it. dagen: really quickly, cancer drugs, huge innovations, life saving immuno therapy drugs that cost 300, 4,000, $500,000 a treatment. a million dollars a treatment. what are they going to do about it? everybody has to address this.
8:38 am
are you going to save somebody's life, but bankrupt them? >> and that's a different issue than what this pharmaceutical did. dagen: the article in the times are two totally different. >> you don't do that as a leader, she knows well she shouldn't have done it. >> i don't know that the solution solves the problem as well. i'd like a big pharmaceutical company could get a fast track, develop a drug and bring it out. sandra: thank you for both or jumping on the phone and being here in studio and jumping on that breaking news for you us. taking a look at the markets, futures are plunging down more than 250 points. working our way back to the lows of the morning, less than an hour ago to the opening bell. keith is making funny sounds over here, i don't know, pain, are you seeing pain? 270 drop for the dow futures. we'll be back in a moment.
8:39 am
8:40 am
8:41 am
8:42 am
>> all right. we want to keep you up on this morning's breaking news. goldman sachs chairman and ceo lloyd blankfein has been diagnosed with lymphoma. cheryl casone has the latest. >> and we looked at everything that he put out in a memo to goldman sachs employees. the chairman and ceo lloyd blankfein saying, late this summer after several weeks of not feeling well, i went through a series of tests that culminated in a biopsy.
8:43 am
my doctors told me i have lymphoma. former my form of lymphoma is curable and my expectations is that i will be cured. he says he'll be receiving chemotherapy in the next few months and reducing some of the previous planned travel, but in the memo a positive spin on this lymphoma diagnosis from lloyd bank fine. sandra: thank you. we want to go to nicole petallides on the floor of the new york stock exchange. and he released a letter to shareholders and employees and it's down more now, right, nicole. nicole: we'll keep a keen eye on lloyd blankfein. he has lymphoma and says it's curable. the bid-ask is in the 180 range and it's likely to be the biggest weight on the dow in terms of points, roughly 20
8:44 am
negative dow points. as we've seen with the u.s. stock index futures, down to 5300 that we're going to open here to the down side, but goldman sachs, big news here, after lloyd blankfein says he has lymphoma and he expects to be cured as well. >> don't forget to start your day with fbn with nicole petallides and lauren simonetti. we'll be right back with much more and 45 minutes to the opening bell.
8:45 am
when account lead craig wilson books at laquinta.com. he gets a ready for you alert the second his room is ready. so he knows exactly when he can settle in and practice his big pitch. and when craig gets his pitch down pat, do you know what he becomes? great proposal! let's talk more over golf! great. better yet, how about over tennis? even better. a game changer! your 2 o'clock is here. oops, hold your horses. no problem. la quinta inns & suites is ready for you, so you'll be ready for business. the ready for you alert, only at lq.com. laquinta! thinking about retiring? do you have the coverage you need? now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about the kinds of coverage we offer,
8:46 am
including aarp medicarecomplete plans insured through unitedhealthcare. these medicare advantage plans can combine parts a and b, your hospital and doctor coverage... with part d prescription drug coverage, and extra benefits... all in one complete plan... for a low monthly premium, or in some areas no plan premium at all. unitedhealthcare doesn't stop there. you'll have $0 copays for preventive services... like an annual physical and most immunizations. other benefits can include routine vision and hearing coverage and the pharmacy saver program gives you access to prescriptions as low as $1.50... at thousands of pharmacies across the country, in retail locations like these. just a few ways we connect you with the people and programs... to help give you a better healthcare experience. call to enroll today and enjoy these benefits and more,
8:47 am
like smart ways to save and tools to help you stay healthy. most plans also include part d prescription drug coverage. your healthcare needs are unique. that's why, with over 30 years of medicare experience, we'll help make things easy to understand and guide you every step of the way. so don't wait another day. if you're new to medicare, or retiring, call now and talk to unitedhealthcare about our plans, like aarp medicarecomplete. let's get you on the right path. call unitedhealthcare today. >> breaking news, goldman sachs, lloyd blankfein has lymphoma. in a memo writing, late this summer after several weeks of not feeling well, i underwent a series of tests which culminated in a biopsy last
8:48 am
week. after the biopsy i was told by my doctors that i have lymphoma. fortunately my form of lymphoma is highly curable and my doctors and my own expectation is that i will be cured. shares of goldman sachs are falling and trading at 180 a share, down a few dollars. joining us by phone is charlie gasparino, senior correspondent. your take on the news? >> you know, i'm sorry to hear this about lloyd. but i say i think the market is overreacting. from a management standpoint, gary is capable, the number two guy there. based on the statements, they're material events. you let it all hang out, where the ceo-- lloyd is going to be okay. cancer is treatable. jamie dimon had throat cancer, treatable. the bank did very well.
8:49 am
and i think he's saying, like i said, generally you don't downplay stuff and i will give this to goldman. this is what you're supposed to do, get all the information out there. and i remember during the financial crisis, king -- he almost died. the company kept it under wraps. that's not the with a -- way to do it. i think the market is overreacting. what the management is like at goldman, the number two a very capable and lloyd blankfein's prognosis, probably going to be okay. sandra: to be fair, charlie, the stock was down a little bit before this announcement. it sold off a little further, but this wasn't all after the letter was released. that being said, to your point, lloyd blankfein said he feels
8:50 am
energetic and ready to take on the treatment. he says it's going to last a few months of chemotherapy, he's going to do it in new york and work through this, charlie, and he said he'll limit some of his travel. >> i agree with charlie on this. i would buy goldman stock on that, that's insensitive, i know that. the reality is, this also reflects the new goldman sachs, they're much more transparent than they've ever been. the other point, you get kind of a freebie because the market is down, too. you have the market down on its lows, a newsy type event. if you're a risk management of market risk and you have to buy one financial, buy goldman sachs. >> and i think most people don't keep -- you'll make it a point -- i would just say this, that the company, these are getting the news out and with
8:51 am
bear stearns in the financial crisis was not right. and goldman sachs is highly ethical and right on the money. sandra: all right. charlie gasparino, thank you for jumping on the phone to us. dagen: i'd add one thing, i always -- it's different when you're running a publicly traded company. when somebody who is a celebrity, who is well-known comes out and discloses even early on that they're battling cancer, to all people that battle cancer, it gives them strength, guidance and hope. sandra: and he said that in his letter that he's tapping into all those that suffered and he's going to go through it with them. the markets is plunging ahead of the opening bell. keep it on fox business, dow now down 277 points. with centurylink as your trusted technology partner, you get an industry leading broadband network and cloud and hosting services. centurylink. your link to what's next.
8:52 am
it's from daddy. sfx: dad's voice i love you baby girl. duracell quantum lasts longer in 99% of devices so you can always be there. ♪
8:53 am
8:54 am
>> apple hit with its first major hack against its app store. we have been talking about this story, it happened yesterday.
8:55 am
cyber threats looking to capitalize on this. and managing the hack etf, and once everybody says, oh, that's the hack etf. your fund now tops $1 billion. >> yes, it does. sandra: to what do you attribute that. >> and what are you doing with the money? >> hopefully with the money we'll be growing and creating more first to market etf's that investors are looking for. timing has is lot to do with this. we launched before the sony attack and-- >> what's in the hack etf. >> it's comprised of offer 30 companies whether they're software, hardware or services. dagen: some of us don't specialize, one of the holdings is cisco, that's not a-- >> cisco is a leader in cyber security and they may not go out and say we're cisco and we're the cyber security
8:56 am
company. >> how do you fight back where you do have plugs to get to 30 different things. cisco is not pure play on hack. are you weighting and overweighting and dynamically changing them on cyber? >> they're the creator of the index and constantly going through the publicly traded cyber security around the world over 200 companies and looking for revenues derived from cyber security. we have a good balance of the company and fireye and have the services. dagen: if you only have 30 stocks in it, it begs the question, you have a specialized etf, why not go out and pick your own handfuls of cyber security companies rather than launching and investing in the-- >> most don't have funds to invest in the foreign companies that the fund does hold.
8:57 am
the winner today might not be the winner tomorrow. sandra: there's been a lot written about you, by the way. for one because you're young. are you still 30 years old? >> i'm 30. sandra: you've got over a billion dollars in this fund and you've had a couple that failed off you took off. >> we specialized initially in the natural resource area and unfortunately the investors weren't look are for at the time. sandra: why is this successful because of the timing testify? >> investors want the instant diversification into the volatile area, by using the etf, you can-- being the first to market, having that fund that everyone has been talking about because of the news going on since we've launched and-- >> do you have any employees yet? >> working on that now, but-- >> it's a one man shop. >> we outsource to other partners.
8:58 am
>> that's hard to do. people try to find angles on something. that's really nice. dagen: what will be harder is preventing a competitor from coming along and eating your lunch. talking about-- >> hopefully they pay you for lunch. sandra: to dagen's point to back it up with number, there are 6500 etf's in the world with $3 trillion of management. >> this is why i'm in one. we want to create specialty management etf west with our mobile payment etf. sandra: what do you make of the criticism of. stuart: etf, that there are too many and they have to go away or--
8:59 am
>> see some and with the ideas that people are looking for, they don't exist. sandra: very confident. the new etf comes out every business day, you're a she think star for the moment. well done. >> appreciate it. sandra: andrew chanin and i want to thank keith mccollough, governor scott brown and dagen mcdowell with us this hour. and recap the breaking news, goldman sachs falling after news out that the chairman and ceo lloyd blankfein has lymphoma. goldman is the biggest drog on the pre-market section. off a few dollars. right now to shave off 20 points from the dow jones industrial average and taking a look at the futures, a big selloff is on pace for the opening bell a half hour from now. dow futures off 77 and nasdaq futures at 86 point losses,
9:00 am
following weakness out of europe. a tough final for volkswagen down 20%, 30% the last couple of days. and they are saying we totally screwed up with the emissions. carlos ghosn says he has to know more. "varney & company," stuart, it's all yours. stuart: you won't like what janet yellen is doing to your interest rate. stocks are going way down at the opening bell. what's going on, the no single news for the selloff, if or when interest rates go up. if or when-- the tea leaf readers are running the show and the world

97 Views

1 Favorite

info Stream Only

Uploaded by TV Archive on