tv Countdown to the Closing Bell With Liz Claman FOX Business March 8, 2019 3:00pm-4:00pm EST
all rationality goes out the window, we will start to look and get those spikes. on a day to day basis we don't pay much attention to it. charles: thank you both very much. the dow is off 102 points. we are off the lowest point of the session, liz claman. i got a feeling this last hour will be a rock and roll hour. liz: always. always. let's bring in chuck berry and everybody else. thank you so very much, charles. have a good weekend. breaking news. the first full week of the month getting clawed by march's lion. stocks lower for five straight days. that hasn't happened since before president trump's election. markets looking at their worst week of 2019 as a surprisingly anemic jobs number and slipping oil drag down portfolios. we do have the s&p lower by 13. the nasdaq down 30. we've got this developing right now. president trump is expected to arrive right there at fort benning, georgia at any moment. our cameras are standing by live for that. the president has spent the day touring damage from the deadly tornadoes that struck alabama on
sunday. but the jobs number, u.s. economy and china trade talks clearly on his mind. we will tell you how he's framing the weakest monthly jobs gains in one and a half years. today is the one-year anniversary of the president's signing that executive order to slap tariffs on foreign steel and aluminum. one year later, what's the knock-on effect? we will go straight to the horse's mouth and ask the ceo of century aluminum. you have to hear how he's been affected by this. it's a fox business exclusive. and tomorrow, speaking of anniversaries, is the ten-year anniversary of the bull run. look at the ten-year chart. can you guess as we pick it all apart, the stock market's best performing name over the last decade? no googling allowed. don't cheat. tweet me your guess. we will see if any of you get it right and reveal it right here.
plus, as elon musk thinks car buyers are ready to buy a tesla online sight unseen, one ceo has been doing this for years. we will ask whether tesla's new world order will succeed. the three moves our "countdown" closer says you need to make today before the next bull run or bear market, whichever comes first. and charlie breaks it on something he told you was coming. amazon's yes network bid. less than an hour to the closing bell. it's friday. let's start the "countdown." liz: this breaking news. the iconic chrysler building may no longer be for sale. dow jones reporting that manhattan-based real estate firm rfr holding is close to buying the new york city skyscraper for more than $150 billion from the current owner. the abu dhabi investment council. the council paid $800 million in
2008 for a 90% stake. as you see all of those lights, those are hubcaps from a chrysler car. just kidding. they're not. quite a haircut there. speaking of which, the dow, s&p and nasdaq are all down for the week. no hope of a recovery at this hour. maybe, though, you never know what's going to happen. we still have 57 minutes. here's what happened. we got the weaker than expected jobs report last month but in honor of the ten-year anniversary, the bull market, we figured we would celebrate a little, do a little flashback friday. a decade ago, the february jobs report showed the unemployment rate stood at 8.3% and 12.5 million americans were out of work. fast forward to today, we see the same month, the unemployment rate stands at 3.8% and just 6.2 million people are looking for jobs. by the way, there are seven million open jobs right now. so this is the 101st straight
month of job gains. we like to put things into perspective here just because one month is ugly doesn't mean the whole picture is. some of the weakness in last month's report was attributed to stores laying off workers, despite weakness in big lots po higher. take a look at it, the discount retailer posted quarterly results that beat big lots. also said it plans to buy back $50 million worth of stock. the shopping spree continues over at costco but big lots is up 14%. let's look at costco. that stock is on pace for its highest close since early december. nice gain of 5%. quarterly profit at the warehouse club operator topped estimates as a drop in gasoline prices and lower cost sourcing boosted the bottom line. plus you can get salsa by the gallon. that's why we love costco. breaking at this hour, any moment now, president trump will be arriving at fort benning, georgia, where he will depart to mar-a-lago and palm beach, florida. this after surveying some more of the tornado damage in
alabama. so far, not far at all, rather, from auburn university's campus. this after the deadliest u.s. twister in nearly six years. just tore through a community there. it's almost stunning, this number is massive. 23 people killed, some of which were children but before president trump left the white house earlier, he appeared to be somewhat optimistic. specifically, about a trade deal with china. let's get to edward lawrence live at the white house. he's got breaking news about xi jinping's official calendar. what's happening here? reporter: yeah, we do. before we get to that, we are waiting for the president to land at fort benning, georgia. he did survey that damage. i lived in alabama at the part, there's very good people down there. this is some of the worst damage i have seen in covering tornadoes for years, as you said, 23 people dead on this. before the president left, he was very optimistic about a trade deal with china. the president saying the chinese are taking a big step forward in their commitment. in fact, the chinese national
peoples congress has submitted a law, new law, formally introduced, they call it the foreign investment act, and that foreign investment law would then bar government agencies and individuals, employees, from demanding trade secrets from other companies who come in and invest here. it also sets up a legal framework to enforce that law. the chinese say that follows international rules or guidelines. white house economic adviser larry kudlow says this is a step the chinese had to make if they want to make a trade deal with the u.s. >> if the deal doesn't work for the united states and our long-term interests, whether it's technology, i.p., theft, enforcement, commodities, tariffs, if the deal doesn't work for america's long-term interests, then it's not our deal. reporter: the administration has been waiting for an exact date for a possible face-to-face meeting with president xi jinping. i can tell you within the last 20 minutes the chinese removed a trip to mar-a-lago from the
president xi jinping's official calendar. he will not be coming to florida in march. they are possibly looking towards april, possibly sending another delegation, trade delegation, to try and finalize a deal. chinese government officials are very concerned behind the scenes that xi jinping would get embarrassed on the world stage as kim jong-un did as the president walks away from a deal that he's not happy with. they want to make sure that deal is finalized first. the president also, before he left, highlighting the jobs numbers. it was a little bit low at 20,000 but the president still optimistic. >> it just went lower. we are down now to 3.8% so we had very good news on that. i this i tnk the big news was t wages went up and that's great for the american worker. that's something people, i don't know if they ever expected to see it. reporter: he said wages up 3.4% over the last 12 months. that is the largest percent increase since april 2009.
again, you heard the president say unemployment rate dropped to 3.8%. white house economic advisers are saying they are looking for possibly those job numbers to be revised up. they are a little bit flukey, as they said. when you look under the hood, they are not seeing what was actually reported here. we have to see what happens next month. liz? liz: let's not gloss over this situation. i think this is pretty important, this scoop that you have. so you are saying china's xi jinping will no longer at least for the month of march be coming to see the president and maybe have a signing ceremony, that is off the table? reporter: exactly. the chinese had on their official calendar the last week of march blocked off for a trip specifically to mar-a-lago. it was removed. he will not be coming to the united states, at least in the month of march. larry kudlow said that they are looking for possibly march or april possibly coming back in but at this point, he is not coming to mar-a-lago in march. it seems that the chinese are a little concerned that if a deal is not done, is not finished, nen the u.s. might walk away
from it all together. liz: okay. you can see right now on our screen that the helicopter has arrived. the president is at fort benning in georgia. he will walk from the helicopter straight to air force one. we are not sure whether he may stop and speak to the m cameras. as we watch it, the dow is not getting hurt too much at least at all, quite frankly, from this headline on the screen right now. the chinese group has removed the trip to mar-a-lago from president xi jinping's calendar and here comes president trump. he has just returned from having been on the ground in alabama, that state hammered terribly by a tornado. this just unbelievable. reporter: exactly. one of the things he met with survivors, he met with victims' families while he was there in lee county, alabama. a community just ripped part by what happened there. as you know, tornadoes are indiscriminate. they can leave one house, pop over and hit a whole
neighborhood. this was a lot of devastation the president got to see first-hand. they went to one of those shelters to talk to some folks to make sure they are doing okay, telling them the federal government will respond with all of the measures they need to respond to help this community rebuild and do the things they need to do in order to move forward with their lives. but the president and first lady wanted to see this first-hand. they did go down there today and again, he's on his way to mar-a-lago after this. but you see him there on the tarmac right now talking with the military folks who have been escorting him. liz: since you have reported that xi's calendar has been cleaned of any trip at least in the near future to mar-a-lago, we are getting tweets from our viewers, what do you mean, removed? i think you clarified it pretty well. as the president walks to air force one, we want to thank you very much for your reporting. anything we hear more about china and any trade talks, we will get to our viewers. but let's mark the dow, down about 95 points.
as president trump and the first lady head now to florida. as promised, here are the top three performers, top three stocks, best performers during the ten-year bull run. some of you guessed. i'm already looking at your guesses. i see a lot of netflix. no, wrong. i see a lot of boeing. no, wrong. let's get to number three. next star broadcasting group, ten year performance, 15,000% plus. nice return. number two, health care name jazz pharmaceuticals. this one saw a 20,000% increase. don't lose sleep over the winner. unless you didn't own it. sleep number. sleep number saw a gain of 23,000% over the past decade. not bad. the mattress maker traded for less than a quarter ten years ago. now trading at $45.87. there you have it. okay. i want to bring in bankrate
chief financial economist and our traders at the new york stock exchange and cme group. wow, tim, you were there ten years ago watching as we saw the bottom of the markets but let's spin it forward. everybody always wonders how much longer it can last. what are your thoughts today? >> i don't really subscribe to the notion that either bull markets or economic expansions die of old age. particularly in terms of the economy. there was such a long stretch during the last decade that the economy barely grew at 1%, 1.5%. i actually think that has the potential to really extend this expansion as we go, you know, forward for another who knows, two, three, four years. liz: greg, let's talk about whether you see this jobs number as some type of precursor. i always say one month does not a trend make. we had a very weak number but let's expand the discussion, bring in housing. we've got housing starts and that was a very nice number, i
believe. january housing starts are up 18.6% but that's an outlier. we have had very weak housing numbers lately. if you mush the two together, what picture do you see? >> well, i'm with you on this, liz. december and january job growth was off the charts for this stage of the economic recovery. it's not at all surprising to see a little bit of give back this month. we had job growth in professional and business services and health care, about half of which was offset by a drop in construction jobs. again, chalk that up to the really cold weather. i think a lot of that may come back as the temperatures warm up. housing starts, we saw a nice bounceback. december was an abysmal number. we saw a nice bounce-back in housing starts. we are kind of back to that trend line we have been seeing on housing starts which isn't lighting anybody's hair on fire but again, to the point that tim just made, you know, this is an economy that that slow growth, particularly with the fed on the sidelines, you can see this economic recovery continue to go on for some time. liz: okay. that's good news.
chris robinson, then you look at it from the stock market's perspective, people still sending me their best guesses. ulta, lot of people guessing that. it was a great performer over ten years, but how do you spot a winner? is it a trick? is there anything you do as you look at stocks? >> you know, the first book i ever read was peter lynch "what about wall street." if you see a stock you like, you investigate it and it's a great book for especially beginning investors to read. every once in awhile i go back and read it again. i like that approach. liz: i like it, too. i like that approach. then you can do the benjamin graham value investing. you never know. great to see all of you guys. greg, chris, tim. our traders are not value guys. they like action. we are getting action. might not be in the direction you would like the see. dow jones industrials down 103 points. we are coming right back. the tesla online selling model. would you buy a car sight unseen, no test drive? there's a website that's been
doing it forever. they think it's a decent idea. itso chantix can help you quit "slow turkey." along with support, chantix is proven to help you quit. with chantix you can keep smoking at first and ease into quitting so when the day arrives, you'll be more ready to kiss cigarettes goodbye. when you try to quit smoking, with or without chantix. you may have nicotine withdrawal symptoms. stop chantix and get help right away if you have changes in behavior or thinking, aggression, hostility, depressed mood, suicidal thoughts or actions, seizures, new or worse heart or blood vessel problems, sleepwalking,
all of you. how you live, what you love. that's what inspired us to create america's most advanced internet. internet that puts you in charge. that protects what's important. it handles everything, and reaches everywhere. this is beyond wifi, this is xfi. simple. easy. awesome. xfinity, the future of awesome.
liz: houston, we have splash-down. not liftoff. splash-down. look at this. spacex and nasa reaching a new milestone earlier today when the crew dragon capsule, nobody inside it, splashed down into the atlantic ocean about a week after its successful launch to the international space station. spacex, i'm talking slowly so we can see it coming down, trust us, it did very nicely, the only company is not just the one that elon musk is making a splash with. after elon's electric empire tesla claimed it would close nearly all retail stores in order to cut costs.
his entire sales model turned to a gutsy online only sales model. our next guest sells tesla directly from his website. his online company delivers thousands of low mileage reconditioned vehicles direct to the consumer. we welcome paul hennessey in a fox business exclusive. as soon as elon musk announced he was going all online, i thought let's get you guys in. you have been doing it forever. is it a risky or smart move on behalf of elon musk? >> we think it's really smart. we have been selling cars online for five years and customers used to have to do everything in an offline environment. now they can actually do everything they would normally do in a traditional dealership online and we are able to process the sale, we are able to create financing, customers can trade in their car if they like, then we deliver the car directly to their driveway. customers love the experience. liz: i know, they do. you are doing rather well. you say you have seen some real heat when it comes to sales lately. can you give us a sense of who's buying online? sight unseen, no test driving?
>> yeah, sure. great question. we are seeing the entire market come online, right? i have been doing this for quite some time. i have been in e-commerce as you know -- liz: used to run priceline and booking.com. >> exactly right. i have been watching this evolution and all products are ultimately moving online. it's a natural progression to see cars be kind of the next product to move online. liz: i do have to ask you, i'm obsessed with your website. i find it fascinating. the average price of a tesla used, preowned, we are supposed to say, preowned, sold at your company on your site in 2018 was about $61,500. now tesla is selling its model 3 for $35,000. this is the least expensive long-range ev out there. but i'm just interested to know, i'm looking at model 3s right now on your site here and i see some for $49,000, some for $52,000. are you concerned that you will have to now compete with that? >> no. i think we've got a really healthy demand around products
broadly and tesla's in particular. we have been a large seller of tesla throughout really our five years. it's a hot product and so we expect as prices come down it will continue to be attractive. liz: you guys aren't publicly traded yet but tesla definitely is. this just moved a couple of minutes ago. citroen research have just tweeted they believe this stock is going to go back up to $320 a share. right now it's at $281. in fact, they in the tweet give a thumbs-up to elon and say people just discount him. you know how hot the product is. as we embrace this new era of autonomous vehicles, we've got the auto pilot feature, are you concerned or what do you see as the future of car buying? will people even buy their own cars anymore? or will we see the waymos of the world take over? >> let me start by saying the used car market is $800 billion large. some would say a trillion large. it's massively fragmented.
40 million units sold per year. yes, we believe autonomous will start to play a role. we believe that ride sharing will start to play a role. even if the units move from 43 million units a year to 40 million units a year, we are going after a large piece of the pie here. liz: we will be watching you. vroom.com. paul hennessey, thank you so much for being here. we need to tell you that the world of business and the whole world really has lost two legends, both of whom i had the honor of knowing and in a way, i bet you knew them, too. if you have ever been to times square on 42nd street, you knew real estate giant sam miller, who died at his home in shaker heights, ohio yesterday. the son of an immigrant from russia who peddled junk on the streets of cleveland by horse and wagon, sam rose to grow and run for city ratner, widely credited with rescuing and revitalizing among other national products, 42nd street which had fallen to crime and economic failure. he donated millions to philanthropic causes and the
cleveland clinic. he was so good to me when i lived in cleveland. he and his wife maria will miss him. he was 97. and late yesterday, we lost a member of my family. former head of mca universal sidney shineberg. sid built universal into a hollywood powerhouse but here's how you might know him. he gave steven spielberg his first directing job when spielberg was just 20 years old. together, the duo created the highest grossing films of the '70s, "jaws," the '80s, "e.t." and the '90s, "jurassic park," hauling in billions at the box office. in 1983, shineberg suggested to spielberg that he make a movie based on the real life holocaust hero oscar schindler. ten years later, the movie won spielberg his first oscar. he was a tireless advocate for human rights causes. he was known as the last lion of hollywood.
liz: yes, s&p, nasdaq and dow are all in the red but at one point in history, every stock in all three of these indices was not public. had to launch an ipo. one of the brightest ipos of last year really struggling right now and ipos are touchy. got to be careful when you jump in on these. gerri: that's right. we are talking about the company crashing its own party. shares falling after the ticketmaster rival disappointed with full year revenue forecasts due to a slowdown in its ticket live brand phase-out. shares currently down 24%,
currently trading after opening at their lowest level since september 2018ipo. one stock climbing today, vail resorts, moving towards its highest closing in nearly three months despite cutting its forecast. the stock is up 6%. and the most magical place on earth, the debut in california's disneyland ahead of schedule on may 31st. also hitting orlando's disney hollywood studios earlier than expected, set to open october 29th. coming up, century aluminum ceo joining liz to talk about the impact of tariffs on his business on the year one anniversary of president trump launching trade war. stay with us.
a business owner always goes beyond what people expect. that's why we built the nation's largest gig-speed network along with complete reliability. then went beyond. beyond clumsy dials-in's and pins. to one-touch conference calls. beyond traditional tv. to tv on any device. beyond low-res surveillance video. to crystal clear hd video monitoring from anywhere. gig-fueled apps that exceed expectations. comcast business. beyond fast. if ywhen you brush or floss, you don't have to choose between healthy gums and strong teeth. complete protection from parodontax has 8 designed benefits for healthy gums and strong teeth.
liz: exactly one year ago today, president trump signed an executive order imposing tariffs on foreign steel and aluminum. the european union trade commissioner this week insisting that a lifting of those tariffs is a precondition of any trade deal between the u.s. and europe. before any of that can be finalized, they have got to get rid of those tariffs. trump's own agriculture secretary saying he believed the steel and aluminum tariffs on mexico and canada should be dropped asap, right away. the usmca which would see the tariffs go away, the new nafta, has not yet been ratified by congress. the tariffs do have their fans. a study from the economic policy institute, a left wing pro labor think tank, found that aluminum tariffs have led to a quote,
strong recovery in employment, production and investment in primary aluminum and downstream industries. we thought let us take it as a business network to a top publicly traded aluminum company to get the business perspective. mike bliss is ceo of century aluminum. good to see you, mike. thank you. that's a positive report. we, though, have also seen some negative studies so let's cut through the conflict. what's been the impact specifically on your company? >> you bet, liz. thanks for having us on this afternoon. first, let me just talk about the industry. the tariffs have accomplished exactly what the administration set out to do so since the president ordered the tariffs, which as you cited, is a year ago today, we have seen developments at over three dozen plants across the country, we have seen investments in new plants, expansions in existing plants, restarts of plants that have been shuttered now, some of them for a couple years, 3,000 jobs added, over $3 billion of investment going into these
plan plants. these are all good-paying jobs, obviously. mostly union jobs. at our own company, we have seen our plant in kentucky, as i think you know, the only plant in the western world that produces the high purity, so-called military grade aluminum that was the genesis for the national security finding in the first place. liz: i remember that. >> you remember. it's been an unmitigated success. if i could address also the other side of the story here, you cite the epi study which is a good one, but the oecd obviously, an inarguably unbiased institution, put out a report in january, i don't know if you have seen it or not yet, 100 pages of detail supporting the exact thesis behind the tariffs. liz: that's a multi-national report. >> yeah. 36 countries, absolutely. absolutely. it found that every primary aluminum producing country in the world, save one, which one do you think it is? the u.s., of course. supports its primary aluminum industry through illegal subsidies. it's pumped in subsidies through
cheap power, cheap finance, tax abatements, et cetera, et cetera. it's created all this excess supply. that's obviously distorted the price and put u.s. companies, we are the only ones who follow the rules here, at a disadvantage. so when people say trade war, and people say they oppose this, we scratch our heads a little and say look, all this is trying to do, all the president was trying to do, all ambassador lighthizer and secretary ross have been trying to do very successfully is simply level the playing field. liz: absolutely. except that, you know, we can't control other countries, but we do remember wilbur ross holding up the aluminum can saying it would really only be a couple pennies. have you heard from the canning industry? i'm talking about the beer makers, they were very touchy about this and they were concerned and yet, here we are a year later, i'm looking at aluminum prices, futures at least have actually gone down. so i believe things have mitigated a little bit or at least moderated. >> liz, you touched on a piece
of data that isn't talked about much and you are absolutely right. the all-in price to consumers like the ones that you mentioned is down from the days before the president announced these tariffs. if you brought in a little bit, if you look at all the so-called downstream industries, the people to whom we sell, we make the basic material, the commodity, primary aluminum, but if you look at the extruders, sheet makers, plate makers, our good customers, their order rate '18 over '17 were up anywhere between 6% and 17%. so their businesses are doing extraordinarily well. so if there's hurt out there somewhere, we accept there are some examples out there, we don't question those at all, but from a broad economic standpoint, everything is going well. liz: we know the business success the likes of what you are seeing sometimes unfortunately diverts from stock market success. the three big companies, yours, arconic, alcoa, it's really surprising to a lot of people,
especially shareholders, how much these stock prices have plummeted. yours alone is down about 61%. since we have seen the tariffs. that must bother you. to what do you attribute that, and make your case to an investment audience here. >> sure. in fact, we do. i can't speak for the other companies but with ours, it's very similar. so we are exposed, which has nothing to do with the price of aluminum, we are exposed significantly to the price of the key input, a globally traded commodity. a year ago a plant in brazil, nothing to do with the disaster recently in brazil, but a year ago a major plant in brazil was forced to curtail half of its production and the alumina price has gone up by about 50% since then. liz: then the sanctions -- >> that created short-term distortion, as you absolutely correctly cite. but that alumina price is at unseen levels, up 50% last year. that really, while this anomaly exists, constricts our cash flow but this, too, shall pass.
we have great confidence. liz: i don't know how you guys do it. it's really tough for ceos sometimes. they are selling away, doing great, yet sometimes that stock price doesn't move. we will be watching it closely. >> long-term. we have confidence. liz: good for you. thank you so much for joining us for the story directly as we say from the horse's mouth. thank you. >> appreciate the time. thanks. liz: swinging for the fences. the closing bell ringing in 19 minutes. the dow is down about 98 points on this friday. the yes sports network looking like it will be the first of disney's newly acquired fox regional sports networks to be traded to another team. coming up, charlie gasparino, the man who told you this deal was in the works weeks ago. people criticized him. they said he's totally wrong. oh, no. he's running to our set right now with the post-game details on the who's who list of the sports and biz titans that teamed up to knock this bid out of the park. and a future for the 21 other nets up for sale. charlie breaks it next on "countdown."
building a better bank starts with looking at something old, and saying, "really?" so capital one is building something completely new. capital one cafes. inviting places with people here to help you, not sell you. and savings and checking accounts with no fees or minimums. because that's how it should be. you can open one from right here or anywhere in 5 minutes. seriously, 5 minutes... this is banking reimagined.
want more from your entejust say teach me more. into your xfinity voice remote to discover all sorts of tips and tricks in x1. can i find my wifi password? just ask. [ ding ] show me my wifi password. hey now! [ ding ] you can even troubleshoot, learn new voice commands and much more. clean my daughter's room. [ ding ] oh, it won't do that. welp, someone should. just say "teach me more" into your voice remote and see how you can have an even better x1 experience. simple. easy. awesome.
liz: saying yes to yes. the yes network, one of 23 of disney's newly acquired regional sports networks from 21st century fox attracting an all-star roster of buyers from the sports, the digital and media worlds. the new york yankees, amazon and sinclair teaming up for a $3.4 billion home run offer. charlie gasparino was out front from the start and has new breaking details on the rest of this race. >> god, i ran down here, just so you know, for you. liz: thank you for doing your job.
thank you for making your slot. >> i get no love. no love. where shall i begin? just so you know, i reported this out yesterday from a bar last night. liz: which one? >> it's called oscar's. oh, no, omar's. omar's on 63rd street. great place. what i did was i got the tip that another publication was reporting that amazon was actually buying the yes network, and the tip was that that publication was wrong, and we immediately on fox business corrected it. it's the yankees buying it. amazon is a minority player in this thing. liz: why? >> because the yankees want to control it. the yankees will control about 30%. amazon is not even the second largest bidder, just so you know. there's other players in there. so amazon is going to be part of this thing. they will be able to stream the local games, you know, within the area, like in new york, you can get the streaming from
amazon. so that's essentially where we are right now. it's not that amazon is buying yes. it's the yankees buying yes. they are a player. sinclair is also a player. blackstone is also a player. now, what happens next with the other 22. so we understand this. monday, the talks resume. we understand that disney's bankers are going to try to replicate the valuation of the yankees that sold for 3.4, to replicate that across the board to try to get $10 billion for the deal. it's not going to be easy because listen, there's one thing of getting a valuation of the yankees for $3.4 billion. listen, it's the yankees, right? it's another thing to try to replicate that for smaller market teams that are in those 21rsns. we should point out it will be an uphill battle for allen and company and jpmorgan to get that valuation, just because those other properties in a cord-cutting world are just not worth that much. they are going to try. bidding resumes on monday. here's the kind of interesting
thing about this thing. amazon, despite what david faber said at cnbc, he said they were first round bidders, still not bidding on any of them. if you notice, they dipped their toe in the water of the rsns. they weren't the majority bidder here. the yankees own 30%. they are much less. as a matter of fact, they are not the second biggest. you've got to ask yourself if they're not even the second biggest bidder on this deal, why would they go for the colorado rockies rsn? they want to learn the business, from what i understand. so it's unlikely that amazon is going to come in at the last minute. they could. i'm not saying they won't. i'm just saying it's somewhat unlikely. for that reason, it looks like this deal is going to try to sell at about $9 billion, maybe less. so that's where we're going with the other 21. it starts monday. you know, last night was very interesting. let me tell you something. it's just a lot of -- liz: at omar's. the bar.
>> what's interesting about this, you wonder why someone leaks out the story like that, that is totally wrong. like why would you leak out that amazon was -- liz: happens all the time, by the way. people leak. because everybody is conflicted. >> that's right. that's right. why would you want to do that? the reason why i think you would want to do that is that you are trying to show that amazon has increased interest in the properties since they are willing to buy all of yes, therefore, maybe the valuation goes up in the bidding. i mean, that's the only thing i can think of, because there is no reason for anybody to leak out that amazon is the lead -- is leading a group of bidders to buy the yankees when they're not even in second place. they're like in third place here. liz: got to bring up tesla. did you see citroen research is a short seller and they have come out in a tweet -- look, can we show tesla's stock? it is now jumping about 2.33%. >> they are like short sellers,
right? liz: they like tesla. they came in and they say that people have consistently second-guessed incorrectly that elon musk will go down and they believe the stock will go to $300. they did not give a time element. >> listen, i hope the best for elon musk. i will say this. i don't like the fact that a ceo knows he's got a security clearance, should know he's not supposed to be smoking pot because it's against the rules of getting your security clearance, and does it anyway. one other thing, people forget this, he had to resubmit his application for a security clearance. the reason why he had to resubmit it is because -- liz: talking about nasa. >> yeah. yeah. he had to resubmit it, because he had to tell the government, the department of defense, that he smoked pot and it has to be on that form. one other thing. reuters looks so bad right now. they tried to attack my first story, where i said he was under
review and in query for smoking pot and could potentially lose his security clearance. they maligned my story and they look like idiots right now. this guy mike stone from reuters. he allegedly covers the defense department or air force or whatever he covers. this guy went out and purposely b.s.'ed about my story and was totally wrong. now he looks like an idiot. liz: what's interesting about this story is that citron has the power to really, really kind of compress stock prices. >> what's his name? liz: andrew. >> does he have a good record? liz: i believe. charlie, thank you. thank you very much. the dow is only down 40 points. charlie once again has a salu i salubrious effect on the market. look at this. we are making a run for the green border. prepping for the next bull run. closing bell rings in eight minutes. three moves all investors should make right now on this birthday
eve of the bull market. at least according to the $16 billion woman, erin gibbs. she's got names she says you really should pile into and the dangerous horns you need to dodge. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade. with expedia, i saved when i added a hotel to our flight. so even when she grows up, she'll never outgrow the memory of our adventure. unlock savings when you add select hotels to your existing trip. only with expedia.
we're really close turning to at least flat for the s&p 500 for the week. but as you see, we're down about five points at the moment. okay, so let's go to which is wills live from the floor of new york stock exchange. gerri, it has been an interesting week. what were the shakers and movers? >> dow dupont, they're finally talking about the split we've been anticipating for a long time. they're giving more details about that three-way breakup. chevron, of course they're ramping up production more than double by 2023. looking at losers on the dow for the week, wall green's big losers. you know the story, fda investigation whether the company is selling tobacco products to minors. dragging stock down for days. this is the third-straight day that led the dow lower. caterpillar lower on trade worries. u.s. ambassador saying that a deal may not be in the works.
back to you. liz: gerri, have a good weekend. thank you so much. how quickly a time passes. full decade since the market began the epic bull run, the longest in u.s. history. today's "countdown" closer has three moves you have to make to set up your portfolio for the long haul. erin gibbs, from s&p. what are the three moves? >> one thing as we're facing a slowdown in profit growth, we want companies with strong free cash flow so they have some cash in case we have bumps. you want earnings that massively have not been revised down, that are healthy, good price. tyson foods, even with all the no carb diets you eat meat. connell: keto. >> all about tyson foods. it is one our favorites.
discovery, discovery channel. even though it's a tough space, they done some acquisitions to create new content. liz: it has been a rough year. they have strong cash flows. they're able to weather those out. last one marathon petroleum. i know it is oil. but they made really good acquisitions. they basically bought their rival. they're just in really great space. liz: i have to ask you from stock market to the economy because a lot of this depends on the economy, how do you see it right now? >> so we see it as still healthy. particularly the u.s. economy. again it is not as strong as has year. it is certainly slowing a little. that is why the fed is adjusting. we're still seeing healthy economy, economic growth. the big concern is what is really going to happen out of china and that is definitely spooking the markets. i think that will have a bigger impact on stock market profits versus the u.s. economy. that will be a bigger deal.
[closing bell rings] liz: erin gibbs, from s&p global. always great to see you. fox business just broke during this hour that chinese president xi xinping had a trip to the u.s. removed from his calendar. melissa: delete that from the calendar. stocks fighting for gains in the final seconds but not making it. the dow closing down 25 points. we were down 225 points earlier in the day. all three major averages down for five straight days. this first time it happened since november 4th, 2016, the time before the election. i'm melissa francis. >> i'm connell mcshane that was a long time ago. melissa: did you delete anything from your calendar? connell: a trip to mar-a-lago to cover the summit. li