tv Countdown to the Closing Bell With Liz Claman FOX Business January 22, 2016 3:00pm-4:01pm EST
trish: okay. we've got a rally on our hands. we'll see if it lasts through the final hour of trading. cheryl casone is going to take you through it. cheryl in for liz now. cheryl: trish, thank you very much. we have got some good news for you. end of the week, triple-digit rally on wall street. the dow jones industrial average back above 16,000 as the markets continue to trade in lockstep with oil. energy names rising on this one, oil soaring about 9% today. crude jumps back $1.32 a barrel, settling at $32.19. that is up for the second day in a row. okay, the blizzard bearing down on the east coast is sending the bears into hibernation, but it's also creating havoc for travelers. up and down the eastern seaboard, we're going to have the full forecast and the latest from america's airports, more importantly. now, since snow is having very little impact on the campaign trail as the candidates offer a flurry of new attack ads.
one national publication gives conservatives a platform to tell america why they're against trump. national review editor rich lowry is here to explain the latest issue and the controversy surrounding it. and liz claman wraps up her coverage of the world economic forum in davos, switzerland, with an interview with the world's richest man. she has got a one of on one -- one-on-one with microsoft founder bill gates, and that is coming up during this hour. and we are less than an hour to the closing bell. i'm cheryl casone in for liz claman, let's start the "countdown." ♪ ♪ cheryl: i've got some numbers to show you, and they're good numbers. markets are on track right now for the first weekly gain of 2016. will we or won't we? well, we're going to find out. less than an hour to go right
now, but as you can see, the markets look nice on this friday and again you can think, wang, energy -- you can thank, well, energy companies. the blizzard threat making the energy market red hot, names like exxonmobil, conocophillips, chevron, all of these guys are up, and that means equities are up. right now the best sector in the s&p is the energy sector. one to watch, by the way, one of the stocks we look a lot at here at fox business, apple. piper jaffray's gene munster recommended to investors that they buy this stock ahead of the earnings call. remember, apple has been hurt along with every other major stock that we follow in the selloff that we've been witnessing so far this year. that stock definitely moving higher on that recommendation. now, the weather outside might be frightful -- i had to say it, i'm sorry -- but the markets are red hot right now. so what is the best way to play all of this as we look at a very snowy shot of the white house? i want to bring in our floor show. traders at the new york stock
exchange, the cme group and the nymex. steven guilfoyle, new york stock exchange, s&p, dow, nasdaq up for the first week, it looks like, of the new year. does this mean that the capitulation is over? >> i don't think we actually saw capitulation, but this is a really huge technical step. 1880 was the s&p number we came in looking at. that's the number we needed to hold in order to have a positive week. now we're looking at a couple level higher. now 1901, we just saw a bounce. if we could hold that level or get above 1908, we have a really nice day going. and the small caps are performing with everybody else today, which has not been the case for quite some time. we need to see that. cheryl: al, there's so much discussion about the economy. i was looking at, i don't know, existing home sales for december, and it was actually a good number. but then i go over to what the initial claims number was yesterday, alan, that was a bad number. we've had the highest number for initial jobless claims since last summer. that makes me worry because
you've got home prices going up and jobs, layoffs going up. are you nervous at all about the u.s. economy if you base it on the data that we're looking at? >> not just yet. the weekly number you really have to average the last three weeks to come up with a number that you can hang your hat on. but i am seeing a lot of positives this week. we saw a key reversal on a weekly basis, on stocks we made new 52-week lows. same thing with crude, so a list of positives. gold's back below 1100, bond yields back above 2%, so a lot of anxiety has been eased. for the third wednesday in a row, we made new relative lows, but we did bounce back. we need some follow through next week, but this may be the start of a bottom we're looking for. cheryl: well, it's all tied to oil. it's the story of last year and the story of 2016. alan, what is your opinion on oil? again, we had that bounceback
today, about 9% on the contracts. i can just see $25, alan. i don't know, it seems pretty close and pretty probable today despite today's jump. >> looks like we're making a bottom here in crude oil. so i don't think -- cheryl: what's the bottom though? now we're at 31. i just quoted 25. that's the next level down, right? >> well, 26.5 is my number. cheryl: okay. >> i think we either touch it or get close to it, but i think we're going to see some bounce around here, but we're not seeing much of a selloff. i think we're heading back up. i think the range right now is going to be 28.5 to 36.5 for crude oil for the next couple of weeks. i think come sunday and monday we're going to see a selloff just because they're going to take the weather premium out of it, but after that i think we're going to start to head back up. cheryl: so, basically, if we don't have snowmageddon this weekend, if it's not so bad, alan, you're saying to me oil goes down on monday. >> i do. cheryl: okay.
>> i think it drops 80 cents to a dollar come sunday or monday, and from there we'll chop around and head back up. cheryl: interesting call. alan, alan, steven, gentlemen, thank you very much. appreciate all of you. >> thank you. cheryl: well, while this market has been a stomach-churning roller coaster ride since the start of the new year, think about this: it's cost the world's richest man about $7 billion. liz claman talked with microsoft founder bill gates earlier today at the world economic forum in davos, switzerland. roll tape. liz: this is the final day of the world economic forum in davos where leaders gather once a year to try and solve the world's most pressing problems. but the founder of microsoft, bill gates, is basically spending every waking minute of his day doing just that through his bill and melinda gates foundation. he joins us now, good to see you. you just landed last night, but on the first day of the forum this year, oxfam -- i don't know if you heard about this -- came out with a rather stunning
report that said that 62 people on the whole planet have as much wealth as the poorest half of the world's population. i'm kind of figuring you're one of the 62, because they're talking about the wealthiest here. what must you have thought of that statistic? >> well, they may count me, but all my wealth is going back to help the poorest in the best way that we can. you know, no doubt if we take the wealth that the world has broadly and we apply it to innovation, we can take things like childhood death which we have cut in half in the last 25 years and cut in half again in the next 15 years. so, you know, although, you know, it's good for people to look at that and think about tax policies, income tax, estate tax and all those things, we are improving lives worldwide. people shouldn't get the impression that inequality necessarily means that the world isn't improving. liz: is there one step we should be taking at least in the u.s. that we're not right now?
>> well, everyone has the view of you have to help people broadly, so there's the size of the safety net and how do you structure that in a way so that you're not slowing down the economy that creates the jobs and does those things right. and there's probably more division about how to strike that balance than there's ever been. fortunately, the u.s. economy's actually doing fairly well. unemployment's down quite a bit, and if you look at leadership and things like i.t., biology, the strength of the u.s. is the envy of the world. liz: some people would take umbrage at the statement that the u.s. economy's doing well because it's been slow, 2% growth, 3% growth for several years now. does that concern you at all? >> no. when you're as rich as the united states is, those are very amazing growth rates. and there's a ton of innovation that's never captured in those growth rates, you know? when you look at, okay, how do
people do music today versus how do they communicate, how do scientists share information, you're not going to see in a growth figure how things have improved there. liz: well, you talk about innovation. the bill and melinda gates foundation spending a lot all the time, and much of it is on vaccines and biotech. look, we constantly hear this clarion call. cancer, we're going to beat you. you're investing in what could maybe be the holy grail. it's actually a company called grail that's a liquid biopsy that scans people's bloodstreams for cancer or at least early signs of it. could that be the cure, the sort of moon identity -- moonshot that people talk about? >> well, one of the key things has always been early detection, and for many cancers it's very hard to do. the idea of this company is by looking in the blood, they'll see little fragments of dna and be able to start treatment at a stage where the success rates are very, very high.
so, yes, this is a neat new company, you know, one that i think is exciting. there's a lot of those coming along. this is one of the best. cheryl: we're going to have more of liz's interview with the world's richest man coming up later in the broadcast. liz is going to ask bill gates if he believes technology could one day lead to the end of man kind. you don't want to miss it. that is coming up in about a half an hour from now. all right, coming up next the national review comes out and explains why people are against trump. but is it too little too late? national review editor rich lowry is here to defend that issue. and here we go, let's see some live snow. let's see some live weather. there we go. the nation's capital, the white house is looking pretty cold, chilly and snowy. the latest forecast for the blizzard that is bearing down on the east coast, and it's straight ahead on "countdown." ♪
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more than 5,000%. skelly has also been indicted on security frauds charges and by a pharmaceutical company, retrofin. okay. gop front runner donald trump may be atop the polls, he's topping his nearest competitor by, get this, 16 points, but he's also topping the poll of being disliked. trump is viewed unfavorably by almost 60% of voters. so the national review has dedicated its latest issue to conservative voices to explain why they're, quote, against trump. the editors wrote: donald trump is a menace to american conservativism who would take the work of generations and trample it underfoot on behalf of a populism as heedless and crude as the donald himself. we are joined right now by national review editor rich lowry and julie roginsky, democratic strategist. both are fox news contributors. rich, where were you six months ago? [laughter] that has been the controversy and the criticism of the national review today.
why did you wait so long to write this article? >> well, we've been quite critical of trump all along, of his positions. at the same time, we've analyzed his appeal, and what we've done has nothing to do with his popularity or unpopularity, it has to do with his political philosophy. he is pretty much a pure populist and not an ideological conservative as conservativism has has been understood the last 50, 60 years. cheryl: you almost said in the article as him being almost wish chi wash chi. -- wishy washy. that comes across. that's a pretty heavy charge on somebody who prides himself as being to the point. >> on a lot of things, he doesn't have well-formed views. isis one moment it's let russia take care of it, and the other moment we're going to bomb the crap out of it. even on immigration, it's just very complex form of amnesty because it says we're going to
take all 11 million be illegal immigrants, deport them and then bring some of them back. cheryl: you say that his stance on things like abortion, gun rights, taxes are not conservative values. >> right. cheryl: he is leading in the polls, rich. the national review at some point is going to have to back somebody. if he's the nominee, are you going to back donald trump, or is the national review going to not back the gop nominee for president? >> we're not going to vote for bernie sanders, that's for sure. cheryl: then you're going to back trump? you're going to have to. >> look, this has happened before. it happens occasionally. i don't want like it when it does, but it does, candidates we oppose actually win the nomination. 1996, bob dole. 2008, john mccain. and it very well may be that donald trump wins despite our opposition and the opposition of a lot of other conservatives, and we'll cross that bridge when we get there. cheryl: but if he's the gop nominee, the national review's going to get behind him.
>> if it's a two-person race between donald trump and bernie sanders or hillary clinton, yes, very likely. cheryl: i'm going to take that as a yes. >> and the other thing, if he wins the nomination, i believe, he will sound a lot different. he'll just be the pragmatic deal maker. cheryl: julie, thank you for your patience. what did you make of the national review? again, the criticism was -- sorry, rich -- this came much too late. these conservative voices like glenn beck waited too long to come out. >> first of all, it probably doesn't help rich's case that a liberal is about to defend -- >> good. now i'm getting it from all sides. >> no, actually, i'm about to compliment you. i think it took a lot of courage. here's a leading conservative publication, people like you, glenn beck, katie pavlich coming together, first of all, to get all of these people who speak in a very disparate group of voices is yeoman's work on your part. but in addition, you've got people who essentially are not
saying donald trump shouldn't be elected because any reason other than he's not a conservative. so you're conservatives who have got conservative bone fee d.c., and you're saying he's not one of us. i think that takes tremendous courage. i wish people on my side of the aisle would maybe address that to some of our democratic candidates. and, you know, i think the criticism that you're getting is unfounded. you have your opinion, and you're entitled to it -- >> courageous. [laughter] cheryl: let me ask you this, okay, because this is not out of the realm of possibility, rich. what if we had a three-candidate race? what if donald trump walks away, runs as an independent? he's the third party candidate because -- and you can see him getting frustrated, walking away and say it's marco rubio or ted cruz and it's hillary clinton and it's donald trump. then what do you do? >> well, the old standards set out by william f. buckley, our founder, is backing the rightmost plausible candidate. so any situation where you have
three or four or any crazy scenario that you come up with, that will be our standard -- cheryl: would be the republican candidate. >> the rightmost plausible -- whoever's most conservative and actually has a chance of winning the election, that's who we'll be with. >> if it's hillary versus donald trump and he moves to the center, i'm not sure -- >> don't start. [laughter] one problem at a time, please. cheryl: rich, you've been very -- yeah. i mean, i mean, what if somebody else walked into this? what if trump, what if trump is -- okay. let's go back to trump being the republican candidate, okay? and what if it's bernie sanders. what if it's rubio? bush? i mean, these different scenarios are possibilities. >> they are. it's a crazy year. look, i think a lot depends on iowa. if ted cruz wins iowa, he may be the favorite for the nomination. certainly, it's going to probably turn into a really fiercely-fought two-man race for a very long time. if donald trump wins iowa, you know, this may be all over in
three weeks, and i can look at a swift deportation under the trump presidency. [laughter] >> you've got your anchor baby. [laughter] >> it's okay. cheryl: the thing is we're talking about, guys, donald trump. that's why you have to put all of these scenarios out there, because anything is possible with someone like him especially in this race. and i have a feeling a lot in the republican party are still scratching their heads about these polls, but we shall see. the polls change, and the caucuses are coming. thank you very much, you guys. well, stay with fox business all day today. we're going to have more coverage of the 2016 campaign. stossel has an election special at 5 p.m. eastern time tonight and that's followed by, you want to watch it, the encore presentation of fox business' republican presidential debate. and be sure to tune in to "mornings with maria" on monday. she's going to talk to senator rand paul. that's going to be a first on fox business interview. maria will be back from switzerland at seven a.m. eastern time on monday. okay, markets looking like they're going to close to the upside. here's a look at a few of the
dow leaders we're watching right now. apple, of course, really taking the lead, but you've also got disney, goldman, exxon, all those names. also, it was a record year for auto sales but also a record year for recalls. gerri willis telling us what the carmakers plan to do to avoid a repeat this year. "countdown" coming right back.
>> 2015 a record year for auto sales but also a record year for something far worse. more than 51 million vehicles were recalled in the u.s. last year. breaking the all-time high set back in 2014. here with all the details. fox business gerri willis. gerri, why the spike in this. >> hey, cheryl, you saw all the coverage about a takata, gm switch failures and now breaking headline 20 minutes ago, there are has been a
tenth death connected to the takata airbags and they say, yes, indeed we have connected this to takata airbags as you know these airbags explode inside the cabin as you're seeing right here. what happens is metal inside those airbags flies into the air and hurts people in some cases killing them inside the car cabin or the vehicle cabin. and now this is saying we're going to expand our recalls for the takata airbags to mercedes-benz, volkswagen, and audi. now, the big picture there were some 21.6 million recalls in 2015 and 50.99 millions -- look athis -- recalls in 2014. what's going on here? well, these are the most recalls in five decades. since 1966. the national highway traffic administration started doing recalls. now, what you need to know here of course is you can always go on their website and
see if your car is being recalled. unfortunately, about 25% of americans don't get their cars fixed even when their cars are recalled. but these are serious issues. the major lines that are affected here. via chrysler with 11.5 million recalls, gm with 2.6 million recalls. these are super serious issues with these cars. if you want to know more, go to the website. cheryl, back to you. >> thank you very much. well, coming up we are going to head back to davos for part two of liz claman's interview with bill gates. the world's richest man agrees with artificial intelligence could lead to the downfall of mankind? you don't want to miss his answer. plus the mid-atlantic, the northeast on edge. blizzard conditions threatening 15 states. you're looking at a live picture of the nation's capital and it is all white right now. two to three feet of snow suspected there alone.
especially up around the east coast white house pretty white right now. countdown coming right back in new york state, we believe tomorrow starts today. all across the state the economy is growing, with creative new business incentives, the lowest taxes in decades, and university partnerships, attracting the talent and companies of tomorrow.
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cheryl: okay. here we go. the closing bell is going to ring. we've got 27 minuting on to go. again, reminder here as you look at these numbers, the dow, s&p, and nasdaq all on track with 27 minutes to go to have their first positive week of 2016. every single one. remember the s&p and the dow in particular really heading higher by the oil contract and energy names. it was all about oil and this winter storm that we've got coming in this weekend. i'm calling it snow m it's going to delay travel for millions of americans for the
weekend, as the snow has begun to fall, we've got fox business on the storm and how goodnights impact your weekend. fox business meteorologist. rick, first to you. tell us how much snow we're going to get. >> you're going to get a lot. and this is a widespread snow event. so it's going to be a lot of people getting a lot of snow instead of just a few people getting a lot of snow and that has really big impacts. this is a look at the storm right now and you think wow that's move off to the east. but it's going to slow down and once it gets offshore, that's when we have the eastern that kicks in and really strong winds that go with it. south side has had severe all day south florida, but we're watching icing along this interstate 95 corridor right here through north carolina causing problems through much of virginia and snowing in washington d.c. and this is the beginning. you're going to have snow for the better part of 36 hours and then the wind comes by the morning as well. here's where we have winter storm warnings in effect and blizzard conditions, blizzard
warnings right here where you see this red, cheryl, it's dc, baltimore, philadelphia, and new york, the big cities, 29 million people under blizzard warning and we're going to be looking at a lot of snow. to the south new york city still the big question for us. how much snow is it? ten inches, maybe 16 inches is still too difficult to say. the cutoff right on new york city. cheryl: i don't mind that personally but it's going to be a big weekend for the east coast overall. rick, thank you very much. let's go to peter barns, he's standing by at reagan national airport. so how are the travel schedules? how many cancellations are you seeing on the board right now? >> we've had 130 flights canceled outbound here from reagan national, cheryl, but i just want to add from rick's report if we get two feet of snow here, it is going to be the second worst snow storm on record for washington d.c. going back to 1899 and washington is of course a southern city, we don't get this kind of bad snow all the time. and with that in mind, we have
seen a lot of cancellations nationally. today the airlines canceling 2900 flights and already for tomorrow canceling 3400 flights. united airlines spending service here and dallas airport in just half an hour from now. american airlines is suspending all flights in and out of the region on saturday and it tweeted out this morning that winter storm jonas was -- is snow joke. not a joke. snow joke. of course the airlines are waiving their cancelation and booking fees to help travelers out. the federal government closed here at noon today in order to allow federal employees to get back home before the storm really kicked in a couple of hours ago. and commuter rail system, the metro system here, which is the second largest one in the country is going to be shutting down for the weekend starting at 11:00 tonight. cheryl. cheryl: all right. we've been through it here in new york city. i tell you. it's quite an experience. peter barns out at reagan.
thank you, peter. while the eastern seaboard prepares for the storm, liz claman has been in winter wonderland of davos, switzerland all week of the world economic forum. earlier this week she interviewed the world's richest man. microsoft founder bill gates. talked to him about a range of issues from drones to artificial intelligence and asked if at official intelligence could lead to the downfall of mankind. liz: i want to ask you techie questions. you hear drones. more force of good or evil? >> totally a force for good moving things around, being able to see forest fires, breaks in electricity lines, there's a lot of amazing things that drones will do. liz: the reason i ask is because your good friend warren buffett has warned in the past of biochemical that
are not in manned, perhaps in a heavily populated area like a stadium. does that concern you? do you foresee that? >> well, it's very hard to predict something super negative like that would happen. it's good for the world to consider it and try to take steps to minimize the chance of it. but the creation of drones doesn't substantially raise the risk there. liz: are you investing in drones at all? >> i don't have any specific investments. we -- our foundation has a lot of work in agriculture and the idea of drones being able to go out and see producivity and getting the rains up to supply medicine where it's tough to maintain, there are lots of ways where it can be beneficial. liz: much have been made of unicorns, startups worth a billion dollars. what's the most clever startup you've seen in the past five to seven years? >> there are a lot of great startups.
i think airbnb is an exciting one because it's a global footprint and because people are choosing to list there and figuring out how to get that quality of service really good. it's in a strong position. a lot of new capabilities coming out of people like airbnb and uber. liz: with all of this talk of technology, theoretical physicist steven hawking whom i'm sure you know warned this week that technology could end upending humanity at some point. do you share that apocalyptic view of technology? >> well, i think it's something that -- it's not going to happen overnight. i do think we have to worry about it. i do think it's inherit that as we create super intelligence that it will necessarily always have the same goals in mind that we do. you know, humans don't always have the same goal as other humans. so who gets control of the technology, how is it built in? i don't think there's a need to panic. but i think the dialogue along
those levels the people who is that's -- let's not worry at all, i don't agree with that. . liz: okay. well, let's take something that's very close now and that's the encryption debate. you now have companies taking swipes at each other. the at&t ceo randall stevenson swatting at tim cook at apple saying it's not apple's decision to create a back door to law enforcement to protect but rather the american people in congress. where do you stand on that issue of privacy versus security? because you're very close obviously to microsoft. >> well, it's a political question. whether the government should require be some way to get at the information. you know, the government's got the role, and we talked about terrorism, which would be bioor nuclear, so how do you strike the balance there and still continue to make that possible? you know, it's great that's now in the political realm,
and i think people will decide that having government be completely blind doesn't really work for them. cheryl: well, you can see liz's entire interview with bill gates online at lizclaman.com, in fact, you can see all of the original interviews she did in davos. you see biochemist, the ceo of lloyds of london, a whole lot more is there. also check out lizst facebook page. it's on fire with all the pictures and videos from the world economic forum. loving all of the comments and of course that includes liz. she's been tweeting away during the it entire trip so you want to check out the team photo she has put up from davos. she calls it that's a wrap. there you saw it. and, hey, while you're on twitter, and cheryl. go ahead follow me as well. all right. we're going to come back in just a couple of moments because we've got the
dow looking for a second day of win. but not all 30 stocks in the index. i know you're surprised; right? here's a look at the dow laggers, amex, ge, mcdonald's, nike, intel. all of these guys -- well, actually the top three. american, ge, ibm. we'll take it. speaking of food and burgers, we're going to talk some football because peyton manning is going to be playing against tom brady this weekend. can the broncos beat brady and preventing them from getting another super bowl ring? that's coming up next on countdn
out for a trip to super bowl 50 and that is just two weeks and two days away. the afc championship bring them together. two of the league's greatest quarterbacks and their 17th matchup. that's peyton manning versus tom brady. who is going to come out on top? especially from a financial perspective? let's bring in sports business journal writer dan caplin. we've got a snow storm here. >> yeah. iraq and you've got these two teams. is this ratings gold? >> absolutely. without the snow storm it was going to be ratings goll. a good championship game might draw 45 million viewers. i would suspect that this will perhaps break the record at 56 million viewers. unless. unless the snow storm knocks out power across the east coast. then you've got a different story. cheryl: but now this game, though, is the first of the two. they don't -- the prime time slot. >> that's right. cheryl: panthers and cardinals. that puts you at a disadvantage for what could be.
>> it will be 50 million for the broncos patriots even though it's the earlier slot. had it been the prime time slot, yes, i think there would have been no doubt a championship game record. cheryl: all right. let's talk about what's been going on between the two teams. i've got to ask you a lot of talk about brady's ankle. >> uh-huh. cheryl: not as good shape as it could be. because this is peyton manning. a lot of people i think would like to see that. >> brady's ankle, gronk's back. we've all heard this before from the bill fest. so i wouldn't put too much credence on that. cheryl: what about the deflate gate. that is tom brady. does that hurt him? >> it hasn't hurt him at all. he's able to play, now, there's an appeal on the decision and maybe he won't be able to play some games next year but, no. cheryl: from a fan perspective. okay. i want to move on.
>> people like the patriots no matter what. cheryl: yeah. i admit i'm not a pats fan. but i will say. i think the exciting game really could be the cardinals and the panthers. because the cardinals have -- a habit of coming at the end. the panthers have had some close calls in the second half. >> oh, i think the panthers have this one take. the turf is going to be a grind it out turf. the turf in carolina is going to be pretty poor. and arizona is a -- not a good running team. cheryl: okay. so you're going to go with the panthers. the record's amazing for the panthers. >> yeah. cheryl: real quick i want to -- let's talk about the nfl l.a. story. >> yeah. cheryl: the rams going to the l.a., there's a second lawsuit with the rams. season ticket holders. does this hurt, but from a business, a money perspective, doesn't this kind of complicate things for the nfl and for the rams with these lawsuits that they're facing now? >> it's a minor irritant in
the season ticket holder contract saying that the team can void the ticket at any time. do they follow an ant antitrust lawsuit to recoup losses against the nfl? that's the bigger thing to watch than an occasional -- cheryl: is that going to hurt the nfl down the road with other teams trying to move cities? the chargers may be trying to go to l.a. it could hurt them as well. >> it could hurt the nfl and the discovery of the whole location. cheryl: a lot going on in the football world right now. >> always is. cheryl: all right, thank you very much. >> okay. thank you. cheryl: well, it's going to be a good weekend for football. especially with the next snow storm coming up. okay. markets rallying to end the week. got a positive note here. another huge week of volatility, though. here's the question could next week's fed meeting spell more twists and turns for your money? our countdown close is going to give us the preif he had game plans coming up next
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the dow, nasdaq, and the s&p on track right now. to finally have a green week. yes, i said week. and that would be the first time that that has happened in 2015. with the markets on track head higher for the week. what were some of the biggest winners and losers? let's go to the new york stock exchange. adam shapiro standing by. hey, adam. >> finally we can talk about some winners some some of these stocks weren't so good earlier this week but they've that under around. nike big winner up 6%. verizon has been up 6%. united health care. this is important. weekly they're up 6%. remember the middle of the week we found out they lost what? $720million because of the obamacare exchanges being essentially bad. they've managed to turn that around. now some of the big losers this week. american express. they really week ceo talking about the end of plastic and how they have to get ready for your smartphone being your -- don't leave home without it device. also ibm. they're having such trouble. they are trying to turn around
and get up into the cloud but that stock down 5.7%. week to date. back to you. cheryl: adam shapiro, we'll see you on the floor in just a few moments. let's bring in wells fargo global equity strategist and chief economist. and i have to ask you this. they say basically the markets just gave the fed their rate hike. they just death penalty markets. the markets did of the fed. they don't have to do anything next week. what do you say? >> i think that sure they're going to have a less hawkish tone when wen's policy statement is released. cheryl: all right. so there you go. the markets have done this. scott, this has been a rough three weeks for equities. certainly this is looking a little bit better. everyone wants to know i'm sure your phone is ringing. is this the end? is the selloff over? what are you saying? >> well, you know, cheryl, every time i walk in here, they call me the grim reaper now because err time i come in and the market's getting killed. so i'm glad to be in here and the rally is having a nice rally.
so we were in a somewhat capitulation phase. we're trying to get our clients to do what is the hardest thing for retail investors to do and that is step in on these down days and down weeks. so i think that when you look back on 2016 at the end of this year, we will be positive in the equity market. cheryl: but that's the strategy, though, because most investors -- let's be honest here, they know that they're waiting is it out. they're not trying to day trade or week trade or whatever. but at the same time the fundamentals and the economy, john, that's the concern. okay. so i have -- you had some really nice december home sales, which is really good for existing home sales. and jobless claims coming out yesterday. highest number we've seen since july. okay. so let's see. people losing jobs, home prices going up. that doesn't really work, john, for the economy. that's the worry. >> no. there are -- later next week on friday, we're going to get a first estimate for fourth quarter real gdp. the fourth quarter real gdp slowed from 2% in the third
quarter to perhaps less than 1% in the final quarter. that's not going to be good news. we also want to look at what's going on with business sales outside of the hard hit energy sector. from what i could see there, sales are growing after slow pace year over year x energy since the final quarter of 2009. my goodness. if business sales x energy are growing by roughly 2% annually, that tells me that payrolls growth is perhaps peeked for the cycle. and if anything gains in jobs will begin to diminish. cheryl: that is not a good sign, scott, especially for someone who is trying to pick stocks. you're going to have to pick specific sectors for your clients i would assume to kind of shield them from that. >> that's right, cheryl, and i would argue, you know, john was talking about some of those indicators but, you know, when we do projections on leading economic indicators, initial claims, you know, any initial claims number under 320 is a great number. so i think we're going to be there for a while. labor improvement. but the things we want our
clients investing in are the sectors that are very susceptible to a continuation of this recovery. industrials. consumer discretionary. we also want them in technology. so those are the sectors that we want them looking at and then our opinion we do a lot of economic projections looking forward. most of these projections almost all of them do not indicate in any way, shape, or form that the as you say going to slip into a recession. so, you know, modest growth approaching 2 on .5 maybe. nothing great but we're moving in the right direction. cheryl: well, but you brought up the word recession. he just said it. the r word came up in the first week of trading and that's still in the back of the minds of a lot of folks that are watching right now. >> you know, over the past couple of months, the consensus has been a probability of a recession over the next 12 months has risen from about 12 to 15%, now at 25%. and there are many indications
that this economic recovery is not in the fifth inning anymore. if anything we're moving into the eighth inning. they've already shut down the windows for beer. cheryl: uh-huh. >> so it's imperative that the fed go ahead and change its tone if we're to have more confidence in the economic recovery. cheryl: gentlemen, great to spend this snowy, cold day with you. guys, thank you very much. markets looking pretty hot. i hope that warms you up as the temperatures drop and count down to the close of the bell. i'm cheryl, liz claman going to be back on monday, and melissa. melissa: thank you, cheryl. major refractions in the republican property. one of the most prominent conservative publications telling its readers to dump donald trump and of course donald is firing back. what do you expect? we're going to talk to representatives from both sides. david: and more questions about the timing of that u.s. payment to iran and the release of those five american hostages. does it amount to ransom?
melissa: and we're tracking the storm 80 million people in its direct path. the storm is responsible for at least five deaths in the south. what people on the east coast need to know. david: but first let's get to stocks, and you can call it a rally. the dow jones industrial ended up over 200 points. again, this is the first time this week that at least the s&p and nasdaq posted positive gains. first time in 2015 -- oil is really what got the market moving. look at that settle there. up 9% on the day. of course you look at the cumulative down days and they far outnumber the good days. but this is a huge jump in oil. that sent stocks up -- a lot of people thought it would go higher than this but stillan a bad day to end the week. melissa: stocks getting a big boost from oil of course. we just said that surging over 9% to end the day above $32 a barrel. scott of t