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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  March 9, 2017 3:00pm-4:01pm EST

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congressman mike bishop was up all night. he was marking up the bill. the president has summoned his cia chief to the white house. follows the massive site search. the wikileaks founder. they will be there to explain. and whether america's tech giant will reach out on his offer to fix the leaky software. on wall street eight years ago the financial crisis cloud parted. on this anniversary will be see the slip and slide in
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oil. where yes than -- less than an hour for the closing bell. let's start the countdown.ç liz: we've a couple of breaking news pieces here. what we are doing as we are watching the gigantic text company and the cyber breach of spine secrets. those are some of the names must start the countdown. anything that comes out of this meeting because of course it was a cia who somehow left this breach happened we will let you know. they are down. we do have google moving slightly higher. to the story that riveted market ruptures. they are i had need -- i and
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the panic button. for the first time this year and then moments later fell below $49 per barrel. they were barely above it my 27 cents. there watching the crib. it sparks the selloff. it goes to just about every energy name. they all had to do with the energy sector. anywhere from two to near 5%. they have the dow jones industrial quite a bit lower earlier today. looks like the s&p may go back. and the battle for social media supremacy investors are
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still favoring likes over photo filters. after last week. snapshot at the moment is higher by 14% to 22 cents it's well below its ipo closing day. the third straight day. really kind of a tentative. we see a gain of about 11%. based on the other hand has hit its third record high and the same time trading right now and 34% we had office blues for staples the stock is falling nearly 5% after reporting and earnings loss and the latest quarter for anybody who works there. seventy stores in north america this year the ceo warning analysts that they are
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dramatically changing its mindset and operating model we had been hearing this from brick-and-mortar companies over and over again. people simply just hop on line to buy their products. let's get to the breaking is that iust bught you regarding the second passage for the healthcare bill per -- pushed by the gop. even though we are hearing a lot of people are against it nothing to see here. he is painting the picture today with regard to the american healthcare act. despite what you hear and the along great. were talking to many groups and well it will and a beautiful picture because as a speaker calls that this is the best shot. gotta go with it. we as republicans have been waiting seven years to do this. this is the closest we will ever get to repealing and replacing obama care. liz: is that a promise or a
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threat? the house ways house ways and means committee. they are on board. here are some of the pictures taken from that marathon market and the wee hours. these pictures were taken by republican punishment from michigan. mike bishop. you look pretty awake here. have you have any shut eye. we finish at 430. the news is that the energy committee just passed as well every single republican vote for it. every single democrat on the committee voted against it. what did you mark up on what changes did you feel have to be made and in which changes were accepted there. >> we did not make any changes to the bill as presented. we took on many amendments the
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democrats offered at least a hundred amendments that i know of. sixteen of them were ruled out of order throughout the process. it was a large -- long and was processed. it was open and transparent process. everybody read it. it was a thorough examination of our part of what we are doing on this healthcare act. liz: there are deep cuts in medicaid. your state was one of about 30 states that did accept an expansion of medicaid. how are you going to cover this people who may find themselves without that. we speak to that in our bill. we have provided tax credits to address that very issue. so that we don't pull the rug out from underneath those who now have coverage that didn't have it before. that was the promise that we made when we do this we would
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not create an environment where those that have it would lose it. >> that ends up being the sticking point notwithstanding but there are headwinds. they are being pushed towards you guys. we respect that they don't like it. the freedom caucus members one of which was with us yesterday he was on the budget committee. he said no i don't like certain aspects of it because it looks like a screaming entitlement to him how to get around that hurdle. this is the first change that we've seen the first real amendment to any entitlement and the 52 year history of medicaid this is the $1 trillion tax cut. there are some good things in this bill with to make sure that we recognize that. i think it is a great step and the right direction and the caucus is determined toç make this right.
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the senate majority leader said on camera today. due to this bickering the tax reform may take longer and let me let you hear what he said yesterday about that threat that if there's too much fighting about it the one thing lots of people need to head money in their pockets to pay for healthcare may be put off. >> if it takes this long will it hold up or delay a tax reform plan that a lot of americans are waiting on. it will hold up to tax reform and it is the next thing. so congressman do you get tax reform done by august which is what the treasury secretary had promised. this is the one priority that we have with the repeal and replace they are determined to get it done. it is the one thing that we need to do to ensure that we get this economy back up and running again. we ran on this and we are
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going to get it done. liz: thank you so much. he was kind enough to let sc his cell phone pictures get some rest. it was a different world back in 2009 let me just review. avatar was the biggest movie worldwide. the king of pop he was still alive. barack obama was inaugurated. and on march 9, 2009 this was the dow jones. that was the low point of the great recession. the bottoming out. we've been on an eight year tea the s&p gaining two and a 50%. look at the nasdaq. 360% gain so with the markets that had for that long.
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we wanted to want to ask about their best buys back then. it was sort of a lesson to all of you. what was your best and got see us siesta by at that fearful time. everybody thought all of the banks are going out of business. and they collapsed. none of us really thought that that was a popular -- a possibility. if you stepped through all of the banks the best pick of the bench has returned about 1900 percent. if you were able to capture that falling knife so to speak. it looked like the world was coming to an end. by and large liz, if you bought a basket of bank stocks you would very well.
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we were not back to where they were pre- crash levels. you have the guts there. tell me what your best buy was around that point and the lesson that you got from that.ç >> they rallied $70 since 2009 but let's keep in mind that it seemed like it was coming to an end. we don't realize it was a gutsy buy. i base it on a company that has them stranded good margin. and lastl something bad would happen to j.p. morgan that than i would have much bigger problems in my measly stock purchase. use have to head faith it's company.
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give me your sense of what you are looking at at that time. i was looking at real estate. real estate was getting crushed at that time. especially florida real estate. that's what happened back in 8789. where the market was getting crushed again. they were having problems. they were having major problems with their real estate. i can remember being in boca raton around that time looking at some prices. it was unbelievable. people were just not panic. on this day how much longer does this long bull market last. when you look at this.
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and pushing forward we did not see the market as overbought. if you just had a congressman on before. they are getting tax reform done before they go on their recess. i think we still have some juice left in this. we are at long historical time we can move much higher for thi oil is just collapsing at this point. and has the 8% drop. we are still down another 2% here to $49.45. what we've been telling our viewers for a year now. that is true. there is a huge supply of crude oil. there was another big build. the biggest thing that's happening we need to see those cuts.
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we need to see that supply come down. when we knew for and the next two weeks is we are going to see those cuts. i don't think that's the case. well have much more on the downside here in crude oil near term and then we do have backup. i also start to think we see some of the supply get taken off the market. great to see all of you guys. they had been with us. and we love them all. make sure by the way who knows what happens tomorrow we are getting the february jobs report maria bartiromo's monthly job special.ç for the dow jones today was my 78. why they wrestle with obama care present trump remaining
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laser focused on jobs. were live at the white house the content is coming right back. online u.s. equity trades... ♪ realize the smartest investing idea, isn't just what you invest in, but who you invest with. ♪
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liz: so we do see the s&p 500 and the tao flipping over into positive territory why is it significant because once again it shows real resilience or the inability down to 78 points. klein back at the moment. we are watching this come back very closely on eight year anniversary of the bottoming of the financial crisis for the stock market. with this breaking is present trap and vice president mike pence were attending a closed-door meeting with cia director mike pompeo. john kelly is also there we are watching this closely if there is any news out of it because of that cia reach we will bring it to you.
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in the meantime let's get to something that we know is near and dear to your heart. i was when bishop just told you and us that he will get tax reform done by august but what a different story that blake burman was told today. >> i'm going to let blake do that. i did not want to steal your thunder. tell us what he said. this happened to me. at an event here in washington. in which he said tax reform mit take lr than expected. the question he was asked was whether or not he is bullish on both healthcare and taxi from happening by august. the senate majority leader said he feels like this is
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something that could get pushed down the calendar. i think finishing on tax or form will take longer but we do have to finish the health care debate up and down win or lose i lose it before we go to taxes. >> i did get about those comments. is it still realistic to expect tax reform. and spicer was very optimistic. i think we feel very confident that we are going to get a lot done. tax reform is high on the president's priority list. you'll see the secretary work on the contour of that. in the next several weeks. we intend to maintain to the schedule that he laid out. you talk about the calendar in august there is the august recess between now and then.
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when you look at the latest rate of calendar is just 60 plus workdays in the house. by the way here at the white house today. part of the issue there that came was what to do about dodd frank. it is the community bankers that lend to small business. everything from regions it is a mixed picture right now but these are the ones that are drying -- dying to be freed the larger banks. we have this breaking is the immigration ban and the fight against what donald trump has wanted to do has gotten a little bit more intense. it appears that the new york attorney general is joining that lawsuit against president trumps immigration band.
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in essence saying president trump and his latest executive order is a muslim band by another name and imposes policies and protocols that once again violate the equal protection clause. we are keeping an eye on that. that's the one leading. looking like a gem after reporting fourth quarter results today. the parent of retail jewelry stores there is this news. as a close hundred 65270 stores in the next fiscal year and open 9215 others. it's moving higher by 9% but this company has been in battle with all kinds of
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allegations that were revealed last week. they made huge profits under obama care but one major change could hurt their bottom line. also, leave millions searching for affordable care. they did well with obama care and now are complaining about so aspects of the republican plan. re count on the way. -- more count down on the way.
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♪ liz: file this up now this is rich. big health insurance companies are fretting over the american headlight care act, the gop's new replacement for obamacare, but don't forget those same guys were not fans of president obama's plan either. look how their stocks performed when that obamacare plan was signed back in march of 2010? aetna up 279%.
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cigna jumping more than 300%. humana 40, humanitarian is not on there. unitedhealth group up 407%. they're whining about aspects of this new plan. is this case never being pleased or gerri willis, they're so geed did i they want to make more and more money? it is unbelievable here. >> it is unbelievable. i wanted to know what impact would this house republicans bill, repeal and replace obamacare, what impact it would have on insurers bottom line. we put the question to the nation's biggest insurers, but they didn't want to weigh in. why? they want to see exactly what is in the bill and legislation elements are the subject as you know of intense debate. however americans health insurance plans, that is a trade group had this to say. this is quote.
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we're concerned key component of medicaid funding formulas starting in 2020, could result in unnecessary disruptions ofs in care beneficiaries depend on. hospital trade groups don't like what they're seeing. one, the american hospital association won't support the house gop proposal in its current form. but that form is becoming less and less clear as republicans fight each other over what to do with the medicaid expansion, which supplies 14 million americans with coverage. the republican study committee is backing two amendments that would scale back spending on medicaid. one would freeze enrollment end of this year. the house gop plan freezes it in to 20. the other amendment -- 2020. the other would add work requirements for able-bodied childless adults. there are challenges for moderate as as well. four republican senators say the law doesn't do enough to protect people getting benefits from the
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medicaid expansion. questions will remain what to replace obamacare with, hanging in the balance of fate of americans health and of course the companies that serve them. liz? liz: gerri, there is questions how many people might lose coverage, we heard everything from 10 million to 15 million. are we close on any of those numbers? >> currently on the medicaid expansion part of medicaid, 14 million people. all of medicaid is 75 million people but we're only talking about a small proportion of this. is is minority of americans obviously right now. and of course the republicans have been pretty darn clear about how over time they want to phase that out. so, don't be surprised if republicans plan ultimately covers fewer people. they have never said anything less. liz: and the insurance companies don't like it. i mean, you know, you just can't write it anymore -- >> makes you feel any better. they lost money last couple years on the exchanges. that was a president tough ride.
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liz: thank you very much, gerri willis. the closing bell 28 minutes away. the charmer, wikileaks founder julian assange, he hands the cia cyber warfare playbook to the world one day, and then the next, some people see him as villain, extends a friendly hand to the tech companies most exposed. should apple microsoft and the rest truth assange? we're bringing in two white hat hackers. they are paid by companies to find cracks holes and vulnerabilities and they're furious but with whom. alex wright and david kennedy up next, you how they see it next on "countdown". ( ♪ ) upstate new york is a good place to pursue your dreams. at vicarious visions, i get to be creative, work with awesome people, and we get to make great games. ( ♪ ) what i like about the area, feels like everybody knows each other.
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and i can go to my local coffee shop and they know who i am. it's really cool. new york state is filled with bright minds like lisa's. to find the companies and talent of tomorrow, search for our page, jobsinnewyorkstate on linkedin. search for our page, why pause a spontaneous moment? cialis for daily use treats ed and the urinary symptoms of bph. tell your doctor about your medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas® for pulmonary hypertension, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you he a sudden decrease or loss of hearing or vision, or an alleic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis. i love how usaa gives me the and the security just like the marines did. at one point, i did change to a different company with car insurance, and i was not happy with the customer service. we have switched back over and we feel like we're back home now. the process through usaa is so effortless, that you feel like you're a part of the family.
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s&p up about two point. stocks in the news, actually an ipo here. j.jill the april not feeling the love as consumers shop more online less at brick-and-mortar stores. it debuted at the new york stock exchange at 13 bucks a share. the stock trading slightly below that price. american international ceo peter hancock resigning at two years of giant insurance con conglome. the board will ship for a replacement. until then hancock will stay on as ceo. aig shares only slightly lower. incomes up, liz speaks with two white hakobyaners about wikileaks exposing cia's cyber warfare playbook. don't miss that. stay with us. hey gary, what are you doing? oh hey john, i'm connecting our brains so we can share our amazing trading knowledge. that's a great idea, but why don't you just go to thinkorswim's chat rooms where you can share strategies, ideas, even actual trades
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liz: is has been 48 hours since cyber pages from cia playbook talked about holes in our smartpnes antvs. that guy wikileaks founder julian assanged surfaced saying he put it out all there and the cia lost control of its entire weapons arsenal. then there is this. assange says he plans on helping tech companies protect their devices. listen. hearing these calls from some of the manufacturers, we have decided to work with them to give them some exclusive access to additional technical details we have so that fixes can be developed and pushed out so people can be secured. liz: how sweet of him. is assange suddenly becoming an angel of assistance offering to do what some say the cia should have done from the start, that is warn companies about their own vulnerabilities?
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let's bring in two white hakobyaners. they get paid to expose security lapses at companies. alex write and david kennedy. welcome to both of you. alex i will begin with you. before we get to weather the cia should have notified these companies, is julianing a sang bluffing or is to be trusted? >> these tech companies are defending against attacks ever day and a battle most of them have been losing. they need every advantage they can get. they absolutely should receive and analyze this information independently verify all of it. it is a, a positive step no matter what the motivations behind wikileaks might be. liz: david, assange is saying he is willing to extend a hand and help them. boy is that the devil in angel's clothes? i'm just wondering. >> we've seen previous wikileaks before where that hasn't been the case, they expose ad lot of
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data that was very damagg and there's two components, there is the documents and playbook and eris code and techniques that the cia actively use to go after different government agencies. that is really damaging both to the intelligence operations we perform abroad as well as put the united states in harm's way against adversaries, that where they are actively doing campaigns against. we have to have these tradecraft. we should definitely be hoarding these exploits and keeping them for going after these different countries with the types of technology they're using because the same thing is happening to us. russia, china, they all have the same capabilities. it is the next arms race, right? liz: what next, alex? you had a chance i'm sure to scrutinize some of what was released, some of these 9,000 pages. what does it look like to you? >> much of it is novel techniques and attacks we've known about for a long time. some of it is new and undisclosed techniques but really incredible part of it is
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how much of it is aggregated together into one centralized playbook. liz: the weeping angel program, that is where spies could spy through your samsung smart tv the brutal kangaroo program, that affects windows. it goes on. you have the apple situation. happy eagle. go on, all of these, it makes everybody want to duct tape over the mini cameras and microphones. >> right, shouldn't be news to anybody there are you will vulnerabilities into those devices. research for years demonstrated various flaws in samsung smart tvs. i have one sitting in my bedroom. it is hpful for consumers to demand from these companies and our government that they are patched and up-to-date and protected finance all types of adversaries out there and we would hope that the government would be on our side during that part. and rather than leaving known holes open. liz: david, to you, you worked at government.
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you were at the nsa. do you look at the cia and say how could you guys have sat on this and not contacted samsung, not contacted -- maybe not samsung as a korean company but certainly apple? >> listen, being from that side of the house we need specific ability to go into other governments. to go into other adversaries, track terrorists, go after physical bad people. in order to do that, we have to have exploits and weapons to go and do that. i fully agree with al looks, in the event one of those exploits were discovered by adversary, trying to hack into russia, getting into the kremlin if we discover we should absolutely disclose which we don't currently to the manufacturers. we need the weapons to have an equal playing ground. right now it a equal playing ground for us. we don't have military advantage in the sigher front. iran, north korea, china, russia they're building all these
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capabilities n order to compete on the same level they do we have to have these types of weapons. liz: i know this sound crazy, guys, in my hand is a ancient blackberry. when sony to the hacked way back in the day couple years ago after the movie and south koreans had hacked, they went down into the basement and distributed old blackberries. this thing is so old it has pistons in it. i don't have a charger that fits it. is there any device, alex, you trust and is safe? >> as consumers in regular business users most of us are not being tar the abouted by these tip of the spear cia spy r the most part we should use two-factor authentication, password manager, keep all vices up-to-date. if there are old devices that are no longer getting updates and haven't seen active security inhaves in quite some time, you would do well to got rid of them. hiding behind obsecurity of
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those devices isn't a long term viable tactic. liz: alex, david, thank you very much. >> thank you, liz. david: liz: if you're out there, call these guys, they will find holes in our systems. >> absolutely. liz: anybody have a charger for the old blackberry? >> i have one. i send one over to you, liz. liz: awesome. weighs like 10 pounds. good to see both of. >> you you too. liz: closing bell. 15 minutes away. we do have the dow punching into positive territory by five points. nintendo speaking of punching, it is punching its way to success with the new consoles switch. it is turning the gaming world on its head. we can tell you this. it is now sold out. the company expecting to ship two million units this month by delivering its famous games with names like mario cart to families on the go. nintendo of america president and coo has not spoken about this yet to anyone. he is coming first on fox business to talk about the
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switch, and is it the next super, super console? will it outdo the wii. this is the first interview since it was put out there. up next, charlie gasparino as bayer and monsanto get ready to merge their massive pharma and agriculture businesses could they unload billions in assets? which ones and why. charlie knows. it's just... we were going to ask about it but we weren't sure when. so thanks. being upfront is how edward jones makes sense of investing. duexperience our mostand perforelevated suvs ever. including the lx, gx, rx and nx. experience amazing.
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♪ liz: german campus call giant bayer and the massive u.s. seed distributer to here in america, monsanto are having a fire-sale. 2.5 billion in assets trying to get it off the books. is this a sign both companies are trying to kiss up to european regulators to get approval for the6 billion-dollar
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megamerger? charlie gasparino. >> we're getting from sources inside the company, sources close to the company, meaning bayer, that bayer is still worried out getting e.u. approval for its $66 billion purchase of monsanto. what they are doing, this did described to us from sources close to the company, doing preemptive, taking a preemptive strike to shed assets. what they're doing now which is fairly unusual before you even apply for the eu, european union approval, which is higher hurdle than even the u.s. approval, they think they have the u.s. approval, we should point out we moved the stock earlier in the year, that's right, when both of us, when we exclusively reported that bayer and monsanto executives met with then president-elect trump to talk about the deal. president-elect trump said positive things about job creation. people thought they would have the u.s. regulatory approval in the bag and they may, but here's the bigger --
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liz: came to meet him. >> came to meet him. they can thank our friend, arthur schwartz who is a impresario who does a lot -- liz: i only thought concert guys could be an empassaro. >> this guy is majestic in pr. things to arthur and the gang they got u.s. approval nailed down. it is eu -- why are they wrapping me after 35 seconds. don't do that. i is e.u. approval they're still worried about. what they're doing, this is very, very unusual. they're shedding assets. 2.5 billion, essentially from what i understand the u.s. cropscience division. how that buys them time with the e.u. regulators -- liz: franken food. europeans hate that franken-food. >> i love franken-food. go to europe. they love mcdonalds.
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don't let them bs you. liz: there is one on one on >> shares of target company is monsanto. they have been rising lately on increased speculation it will get approved in the u.s. they're at 114 today. what does that say? 113. they're still below the $128 a share price. hence they're getting scared around preemptively selling assets. this deal ain't done yet, ladies and gentlemen. don't bet that it is. liz: my executive producer brad hurst will not eat oranges with seeds anymore. his favorite franken-food. >> he doesn't know what he is missing. liz: closing bell, seven minutes away. one of the most-followed voices on wall street. jeffly gundlach game on "countdown" and predicted federal reserve hikes would be in the cards for 2017.
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his deputy jeffrey sherman will tell us which sectors are most vulnerable to fed rate hikes this year. you may be shocked as the street is gung-ho on this group. "countdown" is coming right back. ♪ [waitress] more coffee? [student] yeah, thanks.
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♪ liz: we've gotten this, major indecisiveness ahead of the jobs report for the month of february. the dow has crossed unchanged time, 70, seven, zero, 70 times today. it is flat now. bond king jeffrey gundlach warned you on this show back in february this would happen, thed if would absolutely hike this year and there would be reaction you needed to know about. it is all but certain the fed will raise rates a quarter point next week. the probability for fed funds futures?
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90.8%. gundlach said the fed treasury is in a quote, zone of death. it has finally crossed 2.25% this year. double line has 101 billion in assets under management. the chief eninvestment officer jeffrey sherman is portfolio manager of double line's strategic commodity fund. jeffrey, that tease we just gave was a surprise. i want you to reveal to our viewers the sector that you feel would be most hurt by a rate hike? cause it is the exact sector wall street says will be most helped. >> yes. so thanks, liz. what we think from the fed's behavior and the pricing as you said, almost near certainty next week of a high, is that if the head continues down this path, although the market priced 2.% hikes as of today, if the back of the yield curve can does not respond commensurate with those rises, it will actually flatten the yield curve and therefore
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make some financial sector a little more vulnerable. this is a sector that has been on a tear since president trump took over with the new administration. up over 35% since the election and it is essentially priced to perfection based on deregulation, corporate tax reform and then also the idea that perhaps the yield curve would indeed steepen. we've seen the contrary so far this year. liz: okay. jeffrey sherman, everybody, to be clear, is warning financials could get hurt if we see a rate hike next week. tell me what you're buying then. >> just to clarify, liz, not just one rate hike, but if the fed gets more aggressive than that and starts to the to press the front of the curve. to keep people on a happy note we favor president trump's infrastructure program that could be favorable to industrial producers here in the u.s. as we likely see a partnership between the public and private sector in
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building the infrastructure program out. so, i think that is a better, likelihood of happening over the course of 2017. [closing bell rings] liz: we'll put all of jeffrey's recommendations up on the dow is up 2 measly points. thanks to jeffrey sherman. there is the closing bell. david and medical list with "after the bell." david: thankou. melissa: all right. so it is eight years of a bull market and the dow is trying to join in the fun, ending the day in the green with falling oil prices earlier this afternoon. i'm melissa francis. david: i'm david asman. we're glad you could june join us today. this is "after the bell." we have you covered for the big mark competent movers. but another busy day. the gop scoring two major victories in the battle to repeal and replace obamacare but republicans are still facing major opposition from beltway lobbyists, almost all the democrats and even members of their own party. coming up a conservative critic,


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