tv Countdown to the Closing Bell With Liz Claman FOX Business February 19, 2018 3:00pm-4:01pm EST
news that will affect the news tomorrow. so stick with us. they are probably running some of my old reruns. i hope they are. trish, thank you very much. the commander-in-chief commander-in-chief getting set to leave florida. as the high school shooting the suspect makes another visit to court. the parkland high school attack. it is dominating the headlines. they are tweeting about both. gunman nicholas -- nikolas cruz was in court today.
the end to gun movement. before he killed 17 students and teachers. we have an all-star panel to tell us if america's tech companies bear some or spots sponsor abilities for failing to identify nikolas cruz before his rampage. will be joined to talk about the issue. and also the role that tech has played in russia's push. the markets yes they are close. foxbusiness is open for business. in first liz claman. for liz claman. let's begin the countdown. the stock market taking it.
meanwhile s&p 500 saw its best week in nearly five years. the nasdaq scored its biggest weekly gain and more than x years. what could move the needle. the january existing home sales and that will be on wednesday. plus earnings from home depot. the stock market may be closed but the stock market has the rise today. concerns over rising u.s. production did tempered those temper those gains slightly. crude oil is at 6250. the u.s. dollar edging higher as they were apparently buying on the dip following the plunge to three year lows. gaining a little ground. easing fears.
it was actually driving bit coin higher. breaking through $11,000 for the first time since january 30. president trump he is not holding back 1 inch. a firing off a tweet storm over the weekend. blasting everyone from the fbi to oprah winfrey. while missing warning signs concerning the deadly shooting in florida. this just in. just moments ago literally obama was president up too and beyond the 2016 election. so white he didn't do something about russian meddling. keeping track of the twitter storm blake. a lot of different issues there. we will start with the school safety.
where the white house has said the president is supportive. it is the one that they had used. the president spoke to senator john cornyn. the legislative and built built with the democratic senator. strengthening the background check system. at this point the discussions are ongoing. when looking at ways to fix the system we want to check in the background system. everyone else was raising the red flags. they did a decent portion of it. the president tweeting if it
was the goal of russia to create discord disruption and chaos within the u.s. they have succeeded beyond the wildest dreams. they had steered clear of the most part on the state. you just played their moments ago. of course the critics would point to that testimony with the intelligence chief last week. among them when they were asked what specifically they had been ordered from president trump to do to stop meddling in the upcoming elections they could not .2 something specifically. the debate goes on. i think you. a lot to keep up with for sure. the indictment of 13 russian citizens also outed some of the most popular social media companies. hillary evon is in los angeles.
they are across the nation. they are gearing up from the midterm elections. it doesn't happen in 2018. to talk about election security. they were the president during the 2016 election. they aren't the biggest threat they've seen. but has come through to me also that the biggest threat is not from any of the selection process or cyber security issues. the biggest threat seems to be from the american public believing. the global directory a policy announcing that facebook will start sending postcards by u.s. mail.
facebook is making some changes there vice president of ads is pushing back on the idea that russian meddling was only about the presidential election. most of the coverage of the russian meddling evolves their attend. very definitively it was not in your main goal. it happens after the election. it doesn't align with the main media narrative. from the president on twitter. twitter youtube and paypal. hillary, i think you very much. let's get back now to the deadly shooting in parkland florida.
all in fair condition. this as president trumps put it at the forefront. in the hospital on friday night. we understand on wednesday. today signaling he is in favor of the stronger background checks for firearm purchases. the shooting suspect himself appeared in court earlier today for the second time as a defense team attempted to keep certain files sealed. fox news channel is being covered the national tragedy very well. it was the first live at look at the shooting suspect in court. he was in a red jumpsuit. as well as his ankles. he did not say a word and he have his eyes down the entire time. i really somber appearance by this 19 world.
he stands accused of first-degree murder. seventeen the separate accounts. his public defender said he is going to plead guilty in an effort to avoid the death penalty. the most serious one being by the fbi who admittedly received a call. he wants to kill people and he could be a school shooter. add this two more than 40 visits to the home by the police. we are just getting news about a department of children and family since services. a lot of blame to go around here we get the first look at the suspect live in court.
with your family and yes your furry friends we have a warning about dog food. it may contain a drug for euthanasia. after the possible contamination. the russian election meddling in the florida shooting. one common question the role that tech and social media plays in all this. who is really responsible and what big tech can do it to escape the negative spotlight. countdown is coming right back. we use our phones and computers the same way these days.
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and independent tech expert and journalist think you all for being here. let me begin with you. once we've seen the indictments and we realize how much social media played a role in the russian interference if you like who is at fault. that is a great question. i think there is a responsibility of these big tech companies to be vetting who is betting who is buying the ads and increasing transparency. one of the great debates we get into. do we want these tech companies limiting what can be posted. where are we more interested in creating the system. so that the viewer can see i like the step that they are talking about. making sure that american citizens and businesses are the ones purchasing ads. not only for elections were anything is that something
that we just head to kind of live with? >> it's not just the ads that are the problem. just like we do with every other ad. they created thousands of fake identities which they then used to spread messages across the internet and this misled people to make them think they were actually doing it. in 2016. we talk about ads even some of the ads replaced after the election. they were creating social accounts and misleading the american people and there has to be some somewhere for these social media outlets to verify where people are from.
it was very will orchestrated. it was very will done. if you want to target particular groups of people. to fake news or certain stories. how on earth do they combat this kind of attack. all of them should be run as well as us russian operation. so while vetted and tracked at every level. they understood that these are tools and platforms. the best possible way to use them. they literally created a series of facebook groups that collected hundreds of thousands of members that touched on topics such as a the black lives matter movement and even at the geographic locations.
those are simply groups. they create a group and then an outside entity is simply trying to sway opinion does it. it is because of the way the systems are designed. it's very difficult for facebook and youtube to zero and on this kind of activity because it doesn't present itself as something outside the norm. they are mirroring what other people are doing. the u.s. it does this as well. we had been well documented. we are outraged that russia was doing this. as a something that happens around the world anyway. for sure it happens.
we want to protect the integrity of our process and it really does go a gets people riled up. if that goal is not to elect one person over someone else. that is exactly what they have done. to stop being mad at anybody. we are putting our trust in you. we have to protect this process. more importantly is we have to hold the russians accountable. he has not fully utilize those sanctions. he is not use them at all. we need to start doing that.
that is where the outrage in this country is right now. why did they just get away with this. what about the fact that has been made that president obama back in a 2014 2014 it could've done something about this but he took the soft approach. if you read the indictment. they were on reconnaissance missions. they did it put sanctions in on russia once they realized this was happening. now the congress is demanding that president trump to the same and he is not doing it. let's get back into lance very quickly. i understand that facebook is not an ascent mail postcards to verified residents the pretty complicated and far-reaching efforts by russia. will the social media companies come up with something or some sort of algorithms that can identify
like a piece of music. when it comes to sentiment and becomes extremely difficult to do that. they took a very long time to wake up to the fact that this was going on. they spent months saying we are not a part of this. and i would spend the last year seen i'm so sorry. obviously our platform was used in this way. the platform was used to so this discord. all of america is on facebook. and don't sway in any direction.
there is a lot of blame to go around. and certainly technology plays a role. and then the role of guns in the weight of the florida high school shooting. as i just mentioned to the panel of experts. could they had raised the red flag before he went into that high school with a gun. based on some of his postings on social media. is there about to be a meltdown in the steel market. adam well have the details straight ahead on the count on.
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dumping the seal all over the united states. it's killing you. now maybe we get a little lower price but we lose all of the jobs. president trump has been slamming china for jump -- dumping steel into the open market. now his administration is finally taking action recommending heavy tariffs. this quickly prompted a word. if the final decision to effects china's decision. we all take necessary actions. china is not even in the top ten. we get 16% of steel imports from canada.
9% each from mexico and russia and only 1% from china. adam shapiro is standing by. the big concern now is that all of this could lead to an all-out trade war where nobody wins. china can sell a steel throughout vietnam. it might be counted as coming from vietnam but not china. but what these commerce department reports that were released last week actually show is that china and the overproduction is a depressing prices globally and that obviously has an impact on it companies a company's here in the united states. look at how some of the steel and aluminum companies are performing. major steel producers. about 116% since the election. fifty-two weeks. up 34 percent.
alcoa they are up 88% since the election in century aluminum up 234% since the election. so what is at stake here. making sure that the companies stay in business is one of the things the commerce department would tell you is at stake but there could be a trade war. i think we do need to be careful here that we don't start a reciprocal battle on tariffs try to figure out how to address the massive oversupply but do it very carefully. the consumers in all of these. and into the other manufacturing. some of what they have actually recommended is they have included this.
they want to have a quota of 86.7% in 2017 imports. with the 7.7 tariff or tax on all imported aluminum or they would recommend a 23.6% tariff from china, hong kong and then take a look at steel. the quota that they would impose on steel to protect u.s. steel would be 63 percent of that level of imports in 2016. a 53% tariff on imports from china. in ten other countries. you can see this building to be a very contentious issue. he has until april to decide what he wants to do. and as you pointed out. they have said get ready if america does this the final decision effects china's interests and they will take necessary measures to defend their rights.
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florida school shooter nikolas cruz appeared in court again today at this time as his public defender is trying to steal records and limit the amount of time he will appear in court for coming hearings. the debate rages on where they could have been stopped before he opened fire. how can washington help prevent another school shooting. let's bring back kevin i think you both for sticking around. kevin, let me get back to you. we have heard word from sarah sanders that the president may look at improving background checks on gun purchases. i am a member of the nra. i think the mental health
issues making it tougher for them to get guns. it's not about limiting guns or taking certain guns away but by making it the the steps a little bit more rigorous i think that is part of the debate. a brick publicans immediately say they won't go there. it's only about guns. and they discount that mental health and all of these other issues. i think we have to be able to look at this picture holistically and say there is multiple things we have to do it for you to stop these kind of massacres from taking place. >> you might be open to a relook at the background check system in the case that has been brought to light by nicholas cruz is that right. the question is how did he get the guns. we absolutely need to look at that. this social media thing is a big thing. what about law enforcement. where are the gaps are taking
place from a guy who obviously shows some signs that he should not be in the being out in the public anyway. i think there is something mrs. on this to zero and in only on gun control is amiss. on the tech side of this. we know that we haven't have a concern. we believe he posted it on youtube back in september and has xers of guns and knives on instagram. should these companies alert someone that this individual is doing that or is it a step two far. it was literally a comment on someone else's video. people have been saying and doing horrible things for as long as the service has been around. in many times it means nothing.
i can understand that people would initially not paint this as being a plan for violence and with the case of photos of guns on instagram people post all sorts of images on instagram. it is easy for us to step back and look holistically at what this guy may have been doing and saying all of the signs were there but if you go back nine months or five months ago. it probably doesn't all i'll look like a complete picture. i would love to see some sort of algorithm that flags these things automatically. and then maybe people take it air on the side of caution. obviously that will make people feel better even if most people are doing anything. what can it hurt. why do we need to see images of these arkansas 15's on instagram. kevin let me bring you back on this. it appears that the tech companies are not working
hand-in-hand. he was definitely on the radar. in certain levels. the fbi got a tip with them. but if there was some sort of cross working together with the tech companies maybe that could be something that could alert authorities that this individual or possible individuals in the future are posing a threat to society. there has to be some kind of collaboration and i know this gets messy. if these were easy clear answers that we would be able to solve this. but there is privacy issues. there's first amendment rights. that's why the issues aren't easy. as soon as the politicians and the pundits start lining up on side only picking one of the other that's why we haven't been able to get anything done. and we did not get it done when there was majority democrats in congress. until we can have a dialogue
that looks at this holistically i don't know if we are going to be able to solve this problem. to that point could tech companies do a better job of working they want to maintain their autonomy a little bit. but is this a turning point in that conversation where they may be more willing to work with other agencies i think it is clear that they want to open the dialogue. we can see with you too. what has been discovered in recent months is that there is a lot of weird garbage on their in places where it should be. all of these kids videos that were not violent or sexual. there in the kids section. they had realized we need to do a better job there. using the platform to spread ideas that can be herding or
upsetting people. i agree huge privacy implications here. who is going to decide what is acceptable and what is not. it's can be an ongoing debate. no one is going to stop using social media anytime soon. kevin, let me come back to you. he says if all the sudden you could not by an arkansas 15 what would you lose would you feel like your second second amendment rights would be eroded. what is your response to that. we can have these debates and say let's point out the specific gun. and i understand that debate that i don't think everybody needs arkansas 15's.
if this were to happen with the rifles rifles we would have it that conversation. the problem is that we want to find an easy solution and that's it's not an easy solution is a complex complicated solution. i don't think it is a realistic solution. and not one of the is can it move the needle. a very complicated situation. for sticking around with us on this presidents' day. i thank you very much. we appreciate it. an original dow component struggling. and it could only be one more of the problems. charlie gasper and has the latest facing general electric. this is your new name. this is your new house. and a perfectly inconspicuous suv. you must become invisible.
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general electric is been struggling to figure out how to get back to the glory days. and then announcing they may have to break at the company but it could be worse news on the horizon for the multi- billion-dollar conglomerate. and here to talk abut it. the one and only charlie gasper. once one of the big money makers for them. falling on hard times like a lot of the businesses that ge owns. we understand right now that major investors are balking at the price tag for that transportation business. $2.6billion for this. at least as of now they are saying way too much so this
just shows you some of the hurdles here. getting it back in shape scaling down the business and making the court between healthcare, power and aviation. here is a problem that he faces. i think if you are a ge investor and is a widely held stock among individuals. it's an mutual funds you name it. i broke this down in addition to whether you can sell the transportation unit. here are the things that you have to watch on. do they get expelled from the tao. there is a lot of talk for that stock price and the whole. there is real talk right now about ge and one of the original members. the listing means what. some people think there is two
ways of looking at them. it's just the stamp on how bad things are. maybe it is a bottom for the stock. it would be a problem. second thing. a corporate debt downgrade. it would a massively wrap up their course. they have to take down the leverage and if you pay more for your debt that makes it more difficult to take down your leverage. eliminating or lowering the debited again. it is not producing the cash flow like they need. it is down one way to get some cash ge retirees that held onto stock purely for the
dividends. and that would be the thing. i will give all these 50% chances of happening. here is where my unknown is. do they completely break up the company. they are talking and we were first to report this last year. he came out and he confirmed it. i think in the last earnings call. and power. they sell everything else. you get your cash on hand and based on what we know now. that makes sense. it is very hard to unscrambling and -- and egg. i've no idea. it would be sell everything on every asset that is not been
being sold right now. everything just get rid of every underperforming asset. and see how much cash you can get. by announcing you are going to sell $20 billion worth of stuff you basically announce to the announced to the world that they got you by the conus. i think that is what the problem is. you put the power with the buyer and i think that is a problem he has. there is a book out there. and he's getting a cold shoulder on price. does he sell for 2 billion and set a two and half. maybe find some dynamite for two and half billion dollars. he's getting the cold shoulder on that step. when you announce you need to do a sale that people start saying the buyers have all the power. for future investment in this.
money managers want those components. we should also point out there is a bolus scenario on that the stock. the aviation business is still great. the power business they created the industrial power business. the major companies or businesses that are top line. there is stuff there. but the others would say cash flow is problematic. a huge unfunded liability in the pension fund. we will continue to follow it every step of the way. very quickly as you can see on the other side of the screen there. in west palm beach. the president is going to be getting on and leaving.
he does. all right. i think charlie thinks we cover different things. it is presidents' day. so the markets are open elsewhere. we will tell you what stocks you need to for a rock sound presidential portfolio. canton is coming right back. with expedia one click gives you access to discounts on thousands of hotels, cars and things to do. ... expedia
>> the markets are closed but guess what mount rushmore is open for visitors on this president's day it features four of the most popular u.s. presidents so how should you be sculpting your presidential portfolio, that's a lot of p's let's bring in jimmy lee the ceo of wealth consulting group. jimmy thanks for joining us. all right, we know the big tech was a winner last year and there
were gains in those stocks have been remarkable but i was looking at your notes and you say technology still looks good right? >> absolutely i think on a cash adjusted basis technology sector still looks very attractive. we also like financials. financial stocks should do well and interest rate rising environment and that's very important for in vet ors to understand they have to position their assets differently as we're entering this potentially inflationary type of environment and also consumer discretionary stocks i think the tax reform is possibly extended business employee anded for a couple more years and international stocks. americans are generally very underweighted especially emerging markets. >> so emerging markets looking at the market from a greater distance, jimmy, you expect the volatility to continue because that's very unsettling as we know for certainly the smaller investors out there. what are you telling your clients? >> well, you know, we had this liquidity fueled low interest rate bull market for a long time and all we had was a change of
settlement, profit-taking a lot of people made a lot of money in a very short period of time so it was so overdue for a correction so i'm very happy this happened. certainly we could get more volatility but we've been telling clients that had fresh cash to use these opportunities to buy on the dips and get back into the market but make sure you don't panic and don't do anything that's very negative like selling when there's a lot of volatility at the bottom. >> jimmy what are you avoiding what are you not touching? >> well not necessarily avoiding but i think the paradigm shift really changed with interest rates in this 30 year plus bull market and bonds is over and so investors need to check their financial plans. most financial planning software is used is based on oracle returns and i'm afraid those returns might be wrong meaning the bond market won't produce the returns it has in the past so investors need to check their plans. >> very good advice indeed jimmy lee thank you so much for
joining us on this president's day we appreciate it. the markets will of course be open again tomorrow. that's it for our time here, david asman, lauren simonetti will be taking away now after the bell. >> well the markets are closed on this president day but fbn is open for business as you notice unlike another network. leland:s take a look at the futures, things slidely ahead of tomorrow's opening bell dow futures down 59 points i'm lauren simonetti in for melissa fran since. >> deirdre: i'm david asman, great to see you all after the bell as stocks wait for tomorrow here is what's happening right now. a bureau under fire, any moment now president trump will depart palm beach, florida making his way back to the white house after igniting a firestorm on social media. the commander-in-chief slamming the ongoing crisis with the fbi the ignored tips, botched investigations and allegations of