tv Countdown to the Closing Bell With Liz Claman FOX Business September 7, 2017 3:00pm-4:00pm EDT
street's most widely followed gurus here to tell you what the markets and you might be scared of right now and what you should be looking at. muhammad alarians of allianz joins us live. tom brady and the patriots start the super bowl defense tonight, but do you have brady in your fantasy lineup. nigel eccles with last minute pointers ahead of week one of the nfl season, and what to do if you've got players on tampa
bay or miami. that game postponed for sunday. we're less than an hour to the closing bell. let's start the "countdown." apocalyptic, nuclear, deadly. look at that video. that in the middle of the screen is live video from nasa and noaa. the adjectives that are described by island leaders in florida mayors of what is coming and what has traipsed across their islands. this video from nasa shows it is a massive storm, it was to hit miami sunday at 8:00 p.m. eastern, it's now pushed up to 8:00 a.m. sunday morning. all right, we've got a whole bunch of stock stories related to this. walmart announced that due to hurricane irma's impact on florida, facilities will close or adjust hours of operation, walmart holding flat, slightly higher. comcast struggling, shares on
track for worst one day percentage drop in eight years after the company warned it could lose 100 and 150,000 subscribers in the current quarter, because of the onslaught of the deadly hurricanes. specifically they mentioned harvey, the storms. people have been knocked out of homes, they don't have the money to pay for cable. power is down, comcast down nearly 6%. yes, we have the s&p just down about 1.33 point, same with the nasdaq, nasdaq had been higher and it is losing most of those gains at the moment. it had been up 19 points, up just three. the forecast on wall street looking cloudy as we race toward the closing bell but europe is basking in sunshine after the european central bank, president mario draghi hinted at starting to reduce the bond-buying program as early as next month but wasn't firm on that. he gave an upbeat outlook for the european economy but warned the euro is too strong.
the euro jetting to biggest daily percentage gain in nearly two weeks, stands at a buck 20. we should look at disney, losing magic, shares tanking after ceo bob iger issued a stark warning about earnings per share down, down 4.75% right now. bob iger saying he's already seeing impact from hurricane irma. why? this is obvious, orlando, tourists are canceling disney cruise ship vacations and nixing the trip to florida. disney the worst perform or the dow, stands at $96.70. folks that's a widely held stock in many portfolios right now. president trump held the joint news conference with the emir al sabah of kuwait at the white house. he mentioned the
israeli-palestinian peace process was mentioned, other mideast neighbors, the ongoing war in syria and a future that could include a nuclear north korea. all of that came up but this as the senate just moments ago passed that bipartisan deal the president made yesterday, but the number now for funding for harvey relief is not 7.8 billion, it's 15.2 billion and it is indeed tied to the continuing resolution to rays the debt ceiling but that date of december 15th has also been changed. it was that topic that dominated much of the conversation, i guess through the day, adam, now december what? it's moved up. reporter: december 8, moved up a week, the key here is president trump, the man who gave us "the art of the deal" crafted a deal with democrats that has people here in washington talking about what possibly could the president do next if he can't count on republican leadership does. he turn to nancy pelosi as well
as chuck schumer for assistance in achieving his agenda. one thing that came up in the discussions yesterday was the continuing hurtle that the nation has to cross every so often regarding the debt ceiling. even on capitol hill you've heard behind closed doors, the discussion at times that it's time to do away with this continuing crisis that we go through every few years. the president brought up that, but there was no action on having a permanent fix so that we don't go through it again. here's what the president said about a permanent increase so we don't have to keep increasing the debt ceiling. >> for many years, people have been talking about getting rid of debt ceiling altogether, and there are a lot of good reasons to do that. certainly that is something that will be discussed. we discussed it at the meeting that we had yesterday. it complicates things, it's really not necessary because you are talking about budget, it's really not necessary, it is something we could discuss. but as long as it's there, it will never be violated.
>> and liz, one other thing they're talking about at the white house is what the president did yesterday in this deal with nancy pelosi and chuck schumer, apparently getting upset with the traditional bickering between democrats and republicans, and essentially as they've said, clearing the deck with this roughly 90 day agreement which pushes all of this to december 8 but clears the deck so the country, the president and the administration as well as capitol hill can focus on tax reform. back to you. liz: adam, centrists are saying they think it's a good deal and you heard a lot of republicans on this network and, of course, mick mulvaney saying that the president did the right thing, some of the far right are disagreeing from that, i'm sure you'll hear, keep us posted. reporter: yes. liz: to hurricane irma, could be the costliest and also the most damaging in u.s. history. let me give you stats here. it is currently 65 miles north-northeast of the dominican republic. it is 70 miles southeast of
grand turk island in the turks and caicos. it is moving now at 16 miles per hour with maximum sustained winds of 175 miles per hour. this deadly storm all but destroying this island called barbuda, you may not have heard of it, not barbados or bermuda. look at the aerials, the island is uninhabitable, nearly every single standing structure wiped off. this after the category 5 storm's wrath. hurricane watches in effect. it could be coming, warning is it's right there. watches, even though we're sure it's going to smack into southern florida, florida keys, we knew that yesterday, but thousands and thousands make it 31,000 residents trying to get out of the keys starting yesterday. most of them have indeed made it, but other counties in southern florida are under mandatory evacuation orders.
palm beach got one two hours ago, miami beach one of the areas struggling to prepare for the worst. this is a dense-populated area and they need to all get north at the moment. there is a threat of a 16 to 20 foot plus storm surge that mayor philip levine is warning could envelope his seven mile long one mile wide tourist hot spot, this threatens the lives of anybody who refuses to leave the barrier island. mayor, first, how are you doing? are you doing okay and are you getting what you need to get done? >> yes, we are, obviously preparing for a few days now in anticipation of the storm. the evacuation is going smoothly. i started telling residents and visitors three days ago they must leave my beach even though it's not a mandatory situation. liz: what about that? i see you're putting sand in sandbags and will you leave, and they give a shy smile, and not exactly. >> i think now they understand
how serious this is. it's mandatory, and we know they need to leave. we've been working with homeless community, seniors, special needs people. we're providing buses, trolleys to make sure they can get off and get to our shelters which are not located on miami beach, they're located in greater miami-dade county, aggressive campaign with social media, tv, warning them this is so severe, at a certain point as the storm hits, first responders will no longer be available to help anybody, they'll be on their own. listen, we don't want heroes, we want to save lives. liz: you have been quoted saying this is a nuclear storm, people in key west and a lot of retirees there started moving out yesterday but thought they might be okay moving up to miami, and they're in hotels, now they can't really move, what are you going to do? is there anything can you do to help them? >> the most important thing is to seek one of the shelters. dade county has shelters all over, if have you pets, you can go into a shelter with a pet.
these are hardened facilities that can withstand a hurricane. the information is out there. aggressively pushing it out. go into a shelter unless they have a place they are comfortable and feel safe. as far as miami beach is concerned, we need everybody on the beach. it's becoming quieter, less cars, less people, they're listening. buildings are shutting off power, air conditioning, water, that is an incentive to leave the condominium buildings. liz: real quickly, what about fuel? there is word there are fuel shortages up to sarasota. can you get fuel in there or stopped people from coming south, they got to go north, i heard a four hour north out of i-85 out of miami is taking four hours? >> significant traffic out of miami. i can tell you this, leaving miami beach is very, very fluid. not a tremendous amount of traffic. people are listening, but as you said and i agree there are fuel shortages around the
state. governor is working on that talking to the fuel companies making sure they redeliver as needed. liz: looking at gas lines here. mayor, good luck, as best you can you got a grip on things. thank you. >> thank you so much. liz: philip levine, miami beach mayor. this is typical in prehurricane mode when people run in and take things off the shelves. residents bracing for hurricane irma's wrath are stocking up on essentials, water, food, bread, as we mentioned, gasoline. the officials in the state are going out of their way to make sure residents are not taken advantage of or gouged in this time of crisis. there is a hot line now set up to report price gouging. jeff flock is in miami. what are you seeing on the ground there? let me guess, you're at a home depot? reporter: i'm in control chaos on the ground here. look at line, liz, people standing in the burning hot sun. the storm isn't here yet.
it's burning hot. 90 some odd degrees and people waiting in line for plywood. talking to this guy who's been in every major hurricane since i was born are. >> donna was what, 1962? reporter: what are you going to do this time? >> i haven't decided yet. my brother lives on the other side of the highway. we're thinking load up the cats, load up the dogs. take the litter box. take water to go. reporter: you know how bad it can get? >> a 4, like 145-mile-an-hour winds. reporter: what do you make of all the people in lines. >> procrastinators. reporter: that's putting it bluntly. >> i don't beat around the bush, procrastinators. they knew this was coming, there was plenty of time to get whatever you needed, and why wait? why wait? reporter: that's what they're asking themselves right now. >> yeah. reporter: here you see it, liz, let me ask this gentleman, talking about price gouging.
have you seen gouging on gas or anything? >> not on gas, i did see a picture somebody sent, one of my co-workers, cases of water from 22 to $29 a case. reporter: geez. >> for a bottle of 24 bottles in a case. why? really? you want to make a buck on -- you know? reporter: there's a hot line to call. >> yeah, i mean, i haven't seen it personally, but only in the picture that they sent me. but it's out there. >> i appreciate it, good luck to you sir. good to meet you. thank you. there you go, liz. big lines. waiting on water, waiting on plywood. liz: with the umbrellas too. reporter: i tell you it's roasting, roasting out here. crazy. liz: we're going to put the hot line number up there, 1-866-9-no scam. if you see what you believe is gouging. remember, jeff would agree, sometimes what you see is not
necessarily gouging, amazon accused of gouging on bottled water, they immediately reported that with their algorithmic model, as soon as demand spikes on certain products, amazon is saying prices tend to go higher because the supply goes down, but they are also responding to that practice and i believe they are going to be watching very closely to make sure there is not gouging on its site. volume of 2 million shares, amazon up 1%. 45 minutes before the closing bell rings. we're going to show you disney in just a minute. the biggest drag on the dow 30. ge not far behind. announcing 24 cent per share quarterly dividend and the sale of drug leasing, not exciting investors. as for disney, disney is saying it's warning on full year earnings per share. hurricane irma already playing havoc with the nfl's opening weekend ripping a big hole, maybe, in your fantasy football lineup.
if you've got dolphins and bucks on the squad, we've got the ceo of fanduel to tell us what to do about that? not the biggest problem in the world. opening day of nfl season, big business as well. and goldman sachs ceo lloyd blankfein has the jitters. he's admitting there is something in the market he sees that is making him nervous. we'll tell you what that is and ask expert traders if they agree. floor show next on "countdown," stay with us, a lot of big news here. you totanobody's hurt, new car. but there will still be pain. it comes when your insurance company says they'll only pay
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and right now the sleep number queen c2 mattress now only $699. ends sunday! . liz: breaking news, we have the governor of florida rick scott speaking right now, and i want to give you a direct quote, we can't save you once the storm hits. this, of course, is a big prompt to get people to evacuate. he's been in touch with president trump who has told governor scott that all the help that you need, you will get, but we shall see. at the moment, this time yesterday i think it was 970 or so national guardsmen had been deployed. add another 3,000 today to that. governor scott added now 3,000 so you have a total of 4000 national guard protecting the area, got to think about looting, think about safety. we're watching this closely. goldman sachs ceo has worries unrelated to the hurricane.
lloyd blankfein sending up a warning flare about a specific slice of the market. in interview given at european banking conference, blankfein said, quote, when yields on corporate bonds are lower than dividends on stocks, that unnerves me. why exactly is that scary for investors? and do you have reason to worry? right to the floor show, traders at the cme group, ira epstein and phil flynn, i was going to start with phil. let me start with ira, you right a newsletter that explains a lot of this stuff, should people be concerned and unnerved as lloyd blankfein is of corporate bonds if they don't hold any? >> so far everything we worried about for ten years hasn't come true, i understand mr. blankfein joined the crew, until we see the market to the down side, i got to tell you, i say buy the deep break, deep is 3 to 5% these days. i'm not changing my opinion, the economy is okay, it's not
running away. inflation in the u.s. is pretty much mute, we heard mario draghi today say they are mute on their inflation, and i think that's part of the cause. we're just not seeing any wage inflation that makes this all pick up. on the other hand, things aren't that bad. yeah, we have a bump here, a nasty one from irma and harvey, don't lose sight, the economic data yet to come. in you mentioned comcast at beginning, there will be good news when you get to rebuilding with home depot and companies like that. in the near-term, september is the worst month of the year to be long on stocks, wait to buy the break. liz: phil, give me your take on this and, of course, throw in the energy story here, the huge pipeline goes from the gulf of mexico all the way through florida, too. will they see high prices? >> i think they will. and going back to the bond issue. i think ira is right, the fear issue haven't played out. we're in a tight range on the
market with upward bias, until proven wrong, he stays with that. as far as the storm, i'm looking at the energy markets, liz, it is like eerie calm, i'm looking at how the market is reacting, how this thing is going to go. they're not ready to go. we have rbob futures coming down, crude is hanging in there, natural gas is up. but they really do not know. one of the things the market is trying to assess right now is what damage the storm has already done, if you look at the caribbean, there's a lot of refineries, oil storage that could have been damaged. we don't know yet. liz: we do not, and ira said we don't know the damage and here's the hurricane right now. you can guess that there may be some transitory or not necessarily extended problems with gdp in q3 because of this. thanks, gentlemen. very much. ira epstein and phil flynn. can we show the radar one more time. the reason we want to keep going back to it, who knows, it may change.
at the moment, you see the number 4, the category 4 hitting miami squarely in the face. rick reichmuth our weathercaster said it may change, may graze cuba and throw the storm off-course. we are watching it moment by moment. let us look what we're watching with the dow jones industrials heading back down to session lows. down 55 points, session low down 61. we may blast through it. right now down 50, down 60 points. gopro investors getting blood pumping after the action camera maker upped quarterly profit estimates. gopro citing strong demand for hero 6 infusion 360 cameras. gopro up 12%. are you ready for football? tom brady and new england patriots play nfl season opener tonight. is your fantasy team set and ready to go? fanduel ceo nigel ecels to tell us tips and why the merger with
draft king didn't work out and maybe revisit it? more "countdown" on the way. and, yes, the canceled florida game. the bucs versus the dolphins. it's off. this actually makes sense. now on the next page you'll see a breakdown of costs. what? it's just.... we were going to ask about it but we weren't sure when. so thanks. yeah, that's great. being clear and upfront. multiplied by 14,000 financial advisors, it's a big deal. and it's how edward jones makes sense of investing. .. .. stuffy nose? can't sleep? take that. a breathe right nasal strip instantly opens your nose
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all 67 counties in florida now declared a state of emergency that means no sunday nfl game in miami. it has been postponed. the nfl season officially kicks off tonight defending champs taking on the kansas city chiefs. the company is ready to benefit big time. great to see you. it has been postponed. how does that affect of the
people that have gone on your site. if any of you have a player in the game you want to take that. you want to swap those players out. we are five hours away from the kickoff. what kind of activity are you seen on your site. >> we've seen this. there is a ton of excitement. talk about that. i've seen five points. there is a new app that makes it easy to research that. can a casual player really stand a chance? >> particularly in football new players come on we also create leagues for just new players.
we just lost it today. they had leveled the playing field. >> what is the average payout for somebody. >> it depends on if you plate and a 1 dollar leak, 5-dollar league. you could win $2 or you can win tens of thousands of dollars. they put in so much advertising. as a entirely dead. their empty seats on the ftc. and if president trump were to fill those seats would you try to revisit that. we went to a very long process that we felt the consolidation made sense. we are very surprised by the result.
why is there so much concentration. if they are saying eli manning is in a score a touchdown on this third down. there is that entrance. the player love the product. we are in producing a mini five players. the nfl is really a great example of that. but the core product which is a nine player or nine roster format that we have well have
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suspend operations. so much on the presidents plate and then there is this. the president right now behind closed doors. in the new york governor andrew. they are talking infrastructure. twenty-four dollar tunnel product --dash a project that would link new york and new jersey. let's bring in the political panel. it was yesterday's meeting with nancy pelosi and of course charles schumer that really got with the president and they managed to push that debt ceiling out. we do have a deal in the senate that makes it with the harvey situation. are you one of the people that is furious with the president or do you think it's the right thing to do. >> i think it was the right thing to do.
it humanizes trump to some of his critics. his top priority was giving aid to the families affected by hurricane harvey. there is can be more families in need of aid very soon. fema could run out of money by this weekend at the deal was not struck. i think it was a good thing that they were able to keep that a priority. get what you want. he looks intelligence. really smart here. it clears the runway to maybe get something that matters to democrats and a whole bunch of republicans. and possibly even tax reform. >> opens a door to get needed relief to those victims right now. so many natural disasters across the country and it avoids a terrible economic disaster that could've happened if we would have defaulted. there was of void in leadership on capitol hill.
we are moving forward. the senate this afternoon has taken about to move forward on $15 billion in the relief efforts. this is a step in the right direction. it gives them a seat at the table. obviously what do you get as a sense from the presidents base about meeting with democrats. it sounds like to me when you look at core base of his supporters it may cost him. if they talk to chuck sumer and the senate they trust it to get done. and as assembled in him now. i think you are absolutely right. trump has pitched himself as a dealmaker.
if they were able to help him strike a deal on health care. he decided effectiveness was more of a priority for him than party loyalty. i don't think that is a bad thing. it's about time we get something done. there were people who felt pushing this debt ceiling out is a real problem. and one of them was even his own treasury secretary who have been reportedly somebody during the meeting yesterday that says it a minute if we push it out we might want to push it out much further than just three months. there was discussion about a one-year deal on the table that would have required a one-year deal and the president priority is to refund the military and get additional funding and he did not want to give that up. the democrats in the past have not been known to be fiscally prudent. will they be the wants to say that's get the spending to
this. let's get some spending cuts attached to pay for all of this. let's revisit part of that in a second. president trump through his own cabinet members under the bus. in the end it was to make a good choice which was to avoid economic disaster in to get relief to those in need right now from natural disasters and he worked with democrats to get that done. as far as democrats being the party of fiscal balanced budgets i would remind you the last time we had one was under bill clinton. >> let's see if the businessman in chief can really redo that again and see if we can mimic what bill clinton did when it comes to getting a surplus along ways out. a busy news day here. newsday here. seventeen minutes before the closing bell. it has now backed off of session lows.
he may be gone but he is not letting himself be forgotten. steve bannon taking on one of the top men. what he have to say about his former colleagues in the deep impacts that might have only on the administration charlie breaks it next on countdown. tes. time's up, insufficient prenatal care. and administrative paperwork... your days of drowning people are numbered. same goes for you, budget overruns. and rising costs, wipe that smile off your face. we're coming for you, too. for those who won't rest until the world is healthier, neither will we. optum. how well gets done.
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doing and you don't agree with it give an obligation to resign. >> he should have resigned. absolutely. >> come on. people are allowed to express their opinions to the president. that was steep and on 60 minutes taking quite a shot at most of the presidents men but the national economic council director specifically director specifically buried the brunt of the attack gary cohn is the guy that we have some breaking news on. i think the president thinks he's smart. the people close to him tell me that he is likely out of the trumpet ministration by the end of the year he has lost the confidence of the president that's a people close to him are sane following that.
that he publicly stated that he did not like his charlottesville commentary about trumps commentary. that's what we got. is he out by the end of the year. is he on the ropes. they are sane that they are denying any issue. denying it. the white house has gone on the record with foxbusiness denying that he is out by the end of the year. what they call that was ridiculous. that is a full comment. we asked them after that.
he is not a racist. i will stay. i don't see how we he stays. on one single point. i agree with the sentiments about donald trump's response to the neo-nazi march. it was a horrible situation. we criticize them heavily. but if you are going to stay with administration have on and how you criticize the president. >> with this breaking news that it has been confirmed the present trouble have a full cabinet meeting at camp david this weekend.
would that include gary cohn. that should include him. if it does not include him. that will be telling. are you sure that the nec chief is not in the cabinet. i've decided. the national economic council and he runs at has the treasury secretary in his counsel. and he leads these budget meetings. when there was word that he might leave they did show some reverberation. i think they like the fact that that wall street guy was in the administration. thank you very much. not a huge selloff here down 35 points right now with the closing bell seven minutes away.
liz: three minutes before the closing bell rings. i want to look at gold, known as safe haven or fear trade. hits high of the session up 1%. bigger pick you -- picture, 135a troy ounce. let's get to president trump, whether he acts quickly to bolster dwindling federal reserve board. come october four board seats will be left empty. vice-chair stan fisher announced he is leaving october 5th. one of the world's greatest money mind worked with fisher
mohammed el-erian. can i ask you about gary cohn? janet yellen still in the job. it is ridiculous that gary gets it. is there anything you can say about gary cohn running the fed? >> i don't have any intel. gary has a ton of market experience. he is a very good leader. he once again demonstrated to the white house he can put a good team around him. he has really good feel and sound judgment. i see him as credible candidate. i understand why the markets get nervous when they hear that his future in the white house may not be certain. liz: because he is a substantive person with great knowledge in the administration, is that what imhearing you say? >> yes. because he is very involved in the design of tax reform. he haas been doing so in constructive manner with congress. markets really want to see tax
reform. liz: i know. lloyd blankfein, his former ceo at goldman is still there. he is nervous. he is unnerved by the fact that corporate bond yields are lower than dividends coming from stocks. are you worried? >> that is one of the many signals and many inconsistencies. look at 10-year yield, liz. it is down to 2.05%. people are looking at stock market an bond market and saying wait a minute, they're giving us different signals. what lloyd blankfein said, he is looking at dividend yields, corporate bond yields, saying be careful, they're giving us different signals. liz: we're about to hear the bell but i have to ask you, do you see hurricane harvey, irma dinging q3 gdp here? >> it will ding it. it will be temporary. ironically, we have higher gdp
over six to nine months because of reconstruction. it does destroy wealth. it destroys private wealth. that issue we have to keep an eye on. [closing bell rings] liz: mohammed el-erian says it will be temporary. the dow off the lows. david and melissa here for "after the bell." melissa: stocks back in the red with the dow falling 21 points. s&p is slightly lower. the nasdaq is fighting for gains in the final moments of trading. david: considering all that is going on that ain't so bad. i'm david asman. this is "after the bell." more on the big market movers but here what else we're covering for you in a very busy hour. the most powerful hurricane recorded in the atlantic killing at least 10 people as it leaves a path of destruction all over the caribbean. we're tracking hurricane irma as it barrels towards florida. the senate just passing the bill