tv Countdown to the Closing Bell With Liz Claman FOX Business March 31, 2017 3:00pm-4:01pm EDT
breaking news. the trumpet ministration at this hour fighting forces on four fronts. political, social economic and militarily. we need to tell you that at any moment the president will sign two new executive orders on trade exactly one week ahead of the arrival of the chinese president. the trump team determined to smoke out trade while warning that upcoming talks with china may be difficult. this is battles over immunity for former national security advisor grab much of the accident inside the beltway.
he is naming names. they opposition for that. he named those three people as real problems and breaking news on how the u.s. is now taking action on the deepening threat from north korea. on all of this how foreign affairs committee reacts exclusively to the treasury departments new sanctions that just came out two hours ago sanctions on the further kingdom of north korea. the civil war over the repeal in replacement of obama care. so are these developments that are dominating the headlines red paint on the final trade day of the quarter is down 51 points. do you own the best performing s&p stock for the quarter or
how about the worst. where about to name them. with less than an hour to the closing bell let's start the countdown. see mac the breaking news at the moment for the markets is the nasdaq is in record territory could see yet another record close so stocks heading into the final hours are pretty much there. holding onto gains for the week. we are watching the nasdaq. any tiny bit that means it's a record. we are seeing a bit slow. you can say that there just lacking in some quarterly gains. it's now up for. it was to step three. another point to the upside. what happened in the next 58 minutes. one prime gainer is amazon.
trading higher than one and a quarter percent. if you owned the stock before january 1 the stock right now at $887.19 -- 99 cents. there had just a great quarter. we should look up at panera bread is also getting doubled up at this hour. the stock has been gaining all day today. about two and half percent. they are really sweet on the fast casual chain plan to start posting on the menu alongside calorie counts. there the first to provide that information on sugar. white house press secretary
just ended a marathon press briefing. it was solely on the russian connection. he started to read from prepared remarks. but later he insisted looking straight up the demonstration will be vindicated. >> day by day more and more we are seen that the substance of what we've been talking about continues to move exactly in the direction that they spoke about in terms of the surveillance that has occurred. that's something everybody looks and says what's going on here. why did happen. how are we going to get the bottom of it. as sean spicer in the administration shifted the focus from their perspective i suppose to the fact that they believe that the trumpet ministration was wiretapped in the press and the media and others are certainly looking
the house in the senate and the senate committees are looking at whether there were some russian breaches here. the issues that many of their viewers healthcare and tax reform. can they keep the focus on policy as they seem to be doing with the executive order on trade coming as we understand it in about 25 minutes. were joined by richard goodstein. look. especially he have said on meet the press the former director that anybody who seeks and gets when you get that immunity than your guilty of something now people are looking at that so even as sean spicer said nothing to see here folks accepted that the president was a victim of wiretapping can he really keep that there.
they popped up overnight. named a new member of the cast of this interesting drama. they were taking intelligence and running around. a return to make sure that this came in. we are learning more about that. i think they will ultimately be indicated with some sort of surveillance. i don't know if something was near the bottom of this. if they have the transition team for the or the trump campaign that we have ourselves a massive horrific political scandal. what some people are anticipating today sean spicer the minute he was asked about russia turn to written pages and brought up hillary and bill clinton. wh did you make of that? >> it's a misdirection of the first order dick cheney said
the russian hacking of the u.s. election was an act of war. every 17 intelligence agencies said that they diverted the democracy and in the security field. they said that with what he tweeted it was a fiction. they were desperate to avoid having authorities with real influence independence look at what exactly the russian said and who if anybody in the trump orbit it doesn't have to be the trump campaign we don't actually talk about wiretapping. whoever was dealing with the russians and why an hour after that the first wikileaks came down. the acts of the hollywood tape.
this all comes together as we continue to assess question. can the president still continue to focus on things that really matter to a lot of americans? that is at rex tillerson said we need to keep nato unified in dealing with president vladimir putin of russia. on behalf of many other cabinet members we could go on and on with some of these. now we need to hear about tax reform and we are not. when will we. >> i think the president of the nine states defines what is in the news. you can go to a factory and go to h&r block. and get the press to focus on that. unfortunately i think he's been on the defensive on russia issue.
they should not just chase the theory of some collision between russia and the trump mpaign look at what we did not happen. the fact that sector state hillary clinton with 20% of that production. investors in a company called $165 million into the clinton foundation. richard, it's a distraction nonetheless and i understand that it matters but when will we see democrats work with republicans on healthcare, tax reform if infrastructure. >> it's utter fiction. it speaks to how weak that case is cases that would have to come back to everybody that has looked at knows is a fiction.
what about tax reform and well democrats work with the freedom caucus that's been embattled. i think but it's gonna take trump said historically low approval ratings. the russia thing is that helping him. take on the democrats. i think there is a deal to be made on infrastructure. in text together. certainly from that message come in from the white house. and have them go there and try to work out a deal. they put the deal together there. between april 1 and april 15 focus on taxes.
it's good to see both. it is a pleasure to have you and as we look at the markets right now. it's down about 43 points. if you are a ball it has been a hell of a quarter. the major averages are on track to enjoy the strongest performance in four years but it is set to close for the month. they are on pace for a fifth straight monthly gain. from worst to first let's take a look at this. do you own either of these stocks. were looking at the worst and first s&p 500 stocks. frontier communications getting hammered 37 percent. and this is a stock that is loved by people that love dividends. it has just struggled.
at the $2 stock. in the gains of 52 percent. if you look at all that's going on the energy sector has been the biggest performer. people believe that they may have unlocked shareholder values. which stock should we be looking to we haven't traders at the new york stock exchange what are you looking forward to we're getting it today. you get some to get some nice volatility. nice volatility. they will be able to balance out any portfolio. give no excuse going forward. let's what i'm really looking forward to. maybe see some of the portfolios act today. and going into the first two weeks. for the quarter looks like it is going to have the gains of
9%. it's the parent company up about there. they are pretty significant gains. we know trees to grow to the skies. they don't go to the skype but a lot of people spent a lot of money trying to take the top of nasdaq. i focus on the fact that in two weeks we had taxed tax today. everybody that has been sitting on the sidelines' can find out what the rest of your money is about. you could see some support there because now people have been waiting they missed the rally. you may see a little bit of bump there. i would say a lot of people have lost a lot of money on
the top since this election. on the top since this election. as we look at the ones the people are looking forward to at least from if a structure plan the president met with manufactures. they cited that i believe was pretty unbelievable. the optimism was 60% postelection. donald trump allen has said the right things where people believe that he is supportive of the manufacturing here in the u.s. in support of of infrastrture. it's too late now. what i see right now as they have a lot of bullish underpinnings. both infrastructure economy consumer sentiment.
a lot of people started to get along at that level. that is what they are focused on. we will see that huge surplus. fifty-five dollars within a year. that's what i see right now. it goes up again. tend we can row. it's pretty dramatic. you added another ten. have a good weekend. they were speak in stereo. be sure to tune into wall street tonight.
with steve forbes joining trish regan to discuss the first quarter of the nasdaq and the trump agenda. wall street week airs at 8:00 p.m. eastern. coming up way until you see the rocket launch. yes? please repeat the objective. ♪ thrivent mutual funds. managed by humans, not robots. before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds.com.
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see one breaking news out of charleston south carolina. after five hours in the air you are looking at boeing 787 --dash ten dream minor successfully landed completing its maiden voyage. they kicked off the testing round that is due to interservice next year. how good are the peanuts that's all i care about. still and hundred $77 per share we have some other breaking news. they had 11 north korea agents purported to be helping this. after years of north korea thumbing its nose at the international community the
defense secretary today that enough is enough. he is the chairman of that group. the foxbusiness exclusive. it is handed down three bipartisan measures about north korea. you are working fine for democrats at this time. they have their own plan for north korea. they spelled --dash back went fantastically. we realize north korea is going forward with the six nuclear test.
you do have a bipartisan sense right now behind the legislation that i pushed through and we now had an administration as you can tell him the steps the steps today the intent to implement it. americans are not dumb. my 12-year-old asked me the other day can kim jong create a missile now that could hit california or new york. this is a great concern. and certainly the secretary of defense is on it. this is what he said. right now it appears to be going in a very in a reckless manner. and that's got to be stopped. they were seen at with the israel boycott crowd.
listen to what she said. speemac how tragic is it that of all countries in the world to condemn for human rights violations these invoices choose to single out israel we should boycott north korea. tell us what you aim to do with your committee on this. what we aim to do is drive the policy where the front companies and banks that are right now making it possible for north korea and them to circumvent the previous sanctions that i passed last year we are going to shut down their capability of transferring any of that hard currency into north korea. we know that once before it was effectively sanctioned. and during that time we know
the dictator could not pay his generals a good position for him to be in. and he have a shut down the production line for his weapon system. is what we need to do here. we need to cut off the life-support for the regime's ability on this we have some bad actors that we can shut down right now. the one i would be remiss if i didn't ask you this. you serve on the house committeeells fargo istill in quite the term of drama. another 110 million regarding bogus accounts. president trump have said that he wants to protect americans from a system that has robbed the working class and yet the consumer financial protection bureau is in his sights. do you. do i want to get rid of the bureau.
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rockets. supercool up right landing. using a gently-used rocket booster to launch the rockket into plays. phil keating joins us in florida where the rocket launched what the historic event means for private space companies. do we really need the government on this, phil? reporter: certainly do, if you want nasa and it as space program. otherwise the $100 billion a year aerospace industry, specifically ones, companies that make satellites, this will be dramatically great news for them. it is being compared to the wright brothers first airplane flight. historic, unprecedented also, it's a watershed moment for space access which i was just alluding to. last night's launch set a telecom satellite into orbit. most importantly this proved rockets can be used like airplanes, over and over and over again.
a launch cost savings of about $20 million a launch. this is the same first stage rocket, that is the part that contains the engines and most of the fuel which a year ago launched a cargo ship to the station station and landed on earth on spacex's drone ship. proving once and for all that rockets can be rebooted and reflown. >> you can fly and refly orbit class booster, which is the most expensive part of the rocket. this will be a huge revolution in spaceflight. >> this is a huge deal for the space industry. it is not a stretch to say something like a wright brothers type moment. this has negative been done before. reporter: after it separated from the second stage it dod down-to-earth using what is called, supersonic retro propulsion. what is what it is called, slows
down, engines ignite on to the landing zone. spacex reused that rocket yet again. in the future reuse all of their rockets 20 to 30 times each. liz: so cool. phil, thank you so much for doing that you need nasa with that big government chunk but great to see private companies along. does a company that doesn't pay tariffs cheating the system if the government never asks them for the money. >> >> with the closing bell 28 minutes away, president trump is expected to sign two executive orders on trade any moment. one which aims to collect billions we should have have been grabbing along. we'll bring you to the white house as soon as his comments happen. the dow is down 33.
>> i'm adam shapiro on the floor of the new york stock exchange with this fox business brief. nasdaq on track for the second straight close. the tech sector is is up 12% this year. nasdaq is on track for the biggest quarterly gain since the fourth quarter of 2013. a shrew the tech titans hit new highs this month, apple, amazon, microsoft, google and facebook. blackberry is breathing new life reporting better-than-expected earnings for its sixth straight quarter, things to its shift to become a software-focused business. shares of blackberry soaring 11%. verizon reportedly launching an online tv service set to roll out later this year. the number one wireless network has been buying streaming rights from network owners ahead of the launch. verizon down slightly on the news. more on the "countdown to the closing bell" just ahead. did you know slow internet can actually hold your business back? say goodbye to slow downloads, slow backups, slow everything.
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liz: we have breaking news on credit suisse. it is reportedly conducting an internal investigation after the bank's offices were searched in a tax evasion probe. the investigation is apparently into whether staff breached compliance rules. the stock is down about 1% at $14.92. we'll break in in with any other details as we receive them on credit suisse. we're awaiting this breaking news. the president is apparently about to demand that the u.s. start doing what it is legally already allowed to do but hasn't start collecting money from trade partners. you know how the irs doesn't collect taxes sometimes that are owed, that is frustrating for us who pay? well, apparently the u.s. has tools to collect certain tariffs on countries foreign but importing but those tools are gathering dust in the government tool box. president trump will sign two
executive orders at this hour aimed at making trade deals for the u.s. better. the first puts so-called trade cheats like china, japan, germany and others, they call them cheats, unintense scrutiny. the second, listen to this? collection of 2.billion dollars in tear rivers the country could have been collecting legally but simply hasn't. what could that money do? how about infrastructure to prevents incidents like fiery collapse after major atlanta bridge last night. hundreds of bridges in georgia have been deemed unsafe. why on other have the trade penalties not been enforced to use the money for something like this? is it laziness or inexistence? hopefully he has the answer. he has worked in the trade representative office and partner in a law firm austin and byrd.
eric, which is it lazy or incompetence? >> liz, it's a structure of the system and question of resources. the onus is on the u.s. system of importer of record not only declare what they're bringing into the country but day additional duties or anti-dumping or countervailing duties may be on a product. they need to pay duties in form of a cash deposit with the u.s. customs service. a lot of time that deposit never happens. customs never gets it. some of that is due to importers not declaring accurately or misclassifying what they're bringing in. if that is to be fixed it really becomes a question of resources for the u.s. customs service. as a mater of customs risk management and as a matter of simply the manpower and resources they have, they can not physically inexpect every shipment coming into ports all over the u.s. liz: sorry to interrupt but this sound familiar. like the irs, they often say we don't have the resources to collect.
so it appears we need to have more resources, correct? you but 2.8 billion, i hate when people say that is rounding error. hey, it could have saved that bridge. it could have been helpful for other things here in the u.s., correct? >> it is correct. i mean those monies could have been distributed through the treasury to other programs such as infrastructure. i think it is important to try to understand hopefully the executive order would provide information on where did the administration get this number $2.8 billion. if that number is associated with current anti-dumping cases on only a few products like steel or solar where certain importers are more easily identified then the government might have an easier opportunity to actually collect. liz: okay. speaking of dumping, we should let people know that's when foreign governments start sending a lot, say for example, steel to your country priced below fair value.
it is too cheap and hurting our companies and hurts the deficit. >> that's correct. the dition duties e in place to try to maybe the trade more fair. if you're importing from a company that was hit with dumping order from the department of congress, you're supposed to place cash deposit of value. if there is 20% added duty, you have to pay $200 in cash to the customs department. that is what is not happening from import years i want the money collected. i'm with the president on this. thanks, eric. >> my pleasure. liz: eric is former trade representative for both bill clinton and president george w. bush. closing bell, we're 18 minutes away. look at the dow, it is trying to scratch towards the flat line for a moment. the s&p just turned positive. the nasdaq was already there, up 12. but right now the dow is don'tly down 16. it had been down more than 50. the blame game between the white house and freedom caucus boiling over. chief of staff reince priebus
caught in the middle. coming up charlie gasparino is running down right now to talk about what appears to be a growing feud with jobs on the line. charlie breaks it next. ♪ ades are now just $4.95. we cut the price of trades to give investors even more value. and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be.
liz: breaking news. we just got this video in. what you're seeing the ranking democrat member on house intelligence committee, democrat from california arrived from the white house moments ago. he has been invited by white house lawyers to review classified documents that purportedly show the existence of wiretapping of the trump campaign during the election. this is the document stash already been seen by representative nunes.
who has come under great criticism, very heavy criticism for rushing to the white house with his. information. any information we get out of the visit by representative schiff will be reported to you. regarding michael flynn, the former national security advisor who is apparently fishing for immunity from prosecution, quote, we should first acknowledge what a grave and momentous step it is for the former nsa advisor to the president to ask for immunity from prosecution. so that may come up as well. also at the white house the fight with the freedom caucus may have huge implications for one predent's right hand people. chare gaarino says that the house freedom caucus members have their knives out after donald trump tweeted special
names of these freedom caucus members, they're sticking their knives verbally into who, charlie. >> feed dom caucus members, spoke on background and some going on the record, their ire, placing blame on the war of donald trump on his chief of staff, reince priebus. they say he is behind trump's twitter attacks that it's a desperate attempt for priebus to save his job after the paul debacle. priebus said let paul ryan and his team handle health care. we got it covered. paul ryan will get this true. trump is extremely, extremely mad he is did not win that he has been lashing out at the freedom caucus. they're saying he is only doing it because he is pushed by priebus. what we have is not so much a battle between freedom caucus and donald trump --
liz: why are we showing paul ryan? >> because ryan helped to get it passed. liz: help not get it passed. >> that is it part of the problem the freedom caucus has. this is not just a battle between freedom caucus and donald trump but the between reince priebus. they are attacking each other. louie gohmert interesting comment, came out in texas radio broadcast. he is a congressman from texas. now priebus is giving donald trump advice causing him to turn on the very people that stood with him when paul ryan and all these others were abandoning him. this is what gohmert went on local texas news show. my producer brian schwartz fished that out. this just shows you the level of acrimony. we should point out we asked the white house for comment whether it's priebus behind donald trump pulling the strings. that is what they gave us. it is insulting to suggest that
president trump would so easily be convinced to abandon his core political beliefs and steadfast supporters. what they're essentially saying no one is behind him. he is doing it himself. the freedom caucus believes its priebus. they will put pressure on donald trump to try to get rid of priebus. we should point out, i think this is where you, the viewer that cares about your money should care about this story. this is one thing, if you can't get conservative house pubs on board on a budget, on budget, tax cuts you hav this thing might not happen this year. liz: this may be a dumb question, but why does the freedom caucus, why are they sew inclined to immediately focus on reince priebus when a lot of other people are saying it's steve bannon, very close to the president, go after these guys on twitter? >> they believe it is priebus who has the most, whose job is essentially on the line because he's the one that farmed out the
health care bill to ryan. he and paul ryan are very close they believe he is jazzing up the president to attack them to save his job. instead of blaming himself. they believe it is ryan, priebus and tactics they used caused that thing to fail in the house. the fact of the matter, back loading all the stuff they wanted in terms of getting rid of obamacare into the third phase and first phase. we can get very technical but that's what they believe. my point. two things for average viewer this is battle largely between the priebus and freedom caucus. they want him out. number two, this battle could have impact on legislation, i know steve forbes is in the green room. i will go on some show. someone should ask him, do you think you will get tax reform with conservative republicans are at war with the white house. liz: or the president tweeting them. >> likely have market implications. if you're investing out there, stay with this story. it has market implication.
liz: i'm waiting for my dinner invitation from gary cohn. >> gary was a teed off at me. by the way i'm having dinner at lavo, very nice place. liz: great french fries. >> great french fries. i'm having dinner and get screaming call from the white house. they said there is no dinner planned but i said, i know that. i wrote, i said that in the story. he is talking to people about possibly planning. they didn't understand the difference between having a dinner, planning a dinner, talking to people. anyway. you know, listen, i heard gary cohn eats raw meat. that is why he is so big. just eats it right off the bone. liz: charlie. thank you, i think. seven minutes before the closing bell rings. yeah. the first quarter just minutes away from being slammed in the history books. oh, the dow lost whatever it tried to scratch back. it is down 54 points.
the nasdaq yet on track for another record close. in our "countdown" closer what you need to do to have a profit second quarter. we're asking a guy who has about 21 billion to invest. plus, our eyes are on the white house a little late here. we're expecting the white house and president trump to become a real group of activities here. the signing of two executive orders on trade any moment. we'll bring that to you as soon as we've got it. "countdown," we're coming right back. yes? please repeat the objective. ♪ thrivent mutual funds. managed by humans, not robots. before investing, carefully read and consider fund objectives, risks, charges and expenses in the prospectus at thriventfunds.com.
liz: market alert. this is a nail-biter. nasdaq we're up three. any gain will make a record. today the end of q1. so imagine -- great thing to imagine, you had $21 billion to invest in the stock market. where would you put it in the second quarter? this guy has that. he is penn mutual asset management chief investment officer. you ask yourself that question every day. >> well, yes, we are primarily
invested in the fixed income markets but we do focus on the equity markets as well and do allocate capital within the equity markets. liz: has been a hell after quarter for everybody. >> how strong the equity markets have been, incredibly resilient one word i use to describe how the market markets have been despite failure to repeal obamacare and negative headlines. the market is 30 points off the high in terms of s&p points. liz: perfect word,esilience. for telecoms and energy which were sort of the real laggards this quarter, where do you look to see gains in q2? technology has done so incredibly well because i always worry, now you're buying at the top? >> i think it would be hard to fight the trend in technology. you i wouldn't try to pick the top there. we think financials are better place to be. they are uniquely in a position to benefit from the trump try trek fa, taxes, infrastructure
and interest rates. some of the regulatory costs minimize those for banks we think that is supportive of bank performance going forward. liz: i'm looking at xlf. the annual high was 25. it is 23, brushing up against that. goldman sachs has been a real drag on the dow. i know you don't talk individual stocks but that concern you if we don't get tax reform? >> we like bank stocks not necessarily tied to the financial markets that much. one of the trends of passive towards active in equities there is less turnover in stocks, in the stock market generally so we would tend to focus more on regional banks as opposed to money center banks here. liz: 21 billion in asset to work with. good luck to you. >> thank you. liz: thank you for sharing the information. penn mutual asset management chief investment officer. folks, the dow increased its losses.
we're down close to the lows of the session. nonetheless, the dow looks to be up just under 5%. [closing bell rings] there is the closing bell with some of our service members there at the new york stock exchange and good deeds day at the nasdaq. david and melissa the nasdaq calls it a record, on good deeds day the last day of the quarter, last day of the month and great quarter for stocks. dow finishing higher for the sixth straight quarter. this is the longest winning streak in 10 years. the s&p and nasdaq also enng the quarter in the green and anher daily cord for the nasdaq. hi, everybody, happy friday, i'm david asman. melissa: i'm melissa francis this is "after the bell." we have you covered on all the big market movers. here is what else we have for you at this hour. president trump taking steps to crack downn