tv Countdown to the Closing Bell With Liz Claman FOX Business April 18, 2019 3:00pm-4:01pm EDT
courts and maybe even where president trump can go with respect to sanctuary cities are now actually saying we will take some of these folks. thank you very much, always appreciate it. folks, a very exciting day in d.c. a very exciting day on wall street. liz claman, the last hour is going to be something. liz: i'm just excited overall. green on the screen, what more could you want. charles: exactly. liz: plus game over or just the beginning of the next grudge match? the white house declares victory after attorney general william barr outlined his defense of his interpretation of special investigator robert mueller's findings but at this hour, the more than 400-page blockbuster report is fueling an onslaught of new questions and it's not the 865 redactions that have people going wild at this hour. expert analysis from two top u.s. attorneys on where the real devils might be in the mueller's details and what it all might mean for the administration, ongoing capitol hill probes and the 2020 race for the oval
office. from fireworks inside the beltway to a slightly more serene scene on wall street. strong upside action in united health care, boeing, travelers, mcdonald's, all of these looking really good at this hour for the bulls. that's heating up the dow 30 at this hour. it's two newbies, pinterest and zoom, that are truly firing up investor sentiment, even if they're not buying the stock. the social media hobby site and the video conferencing company surging in their debuts. somebody's buying. can the two newest ipo darlings keep investors coming back for more, and can we close these high levels right now? and revenge of the writers continues. the writers guild flipping the script in the hollywood showdown versus talent agents. bring on the lawyers. the move the wga is now making that was telegraphed right here on "countdown" just three days ago. plus, jpmorgan's jamie dimon introduces two of his top
executives and succession questions suddenly abound over there. t-mobile's big financial play, and charlie breaks it on the president's controversial picks for the fed and whether they will be able to pass go. less than an hour to the closing bell. let's start the "countdown." liz: breaking news. you know you heard charles mentioning north korea but now it appears at this hour that not only has north korea broken the truce on weapons testing, but it has apparently been secretly developing brand new guided weapons that fly very low and can be modified chameleon like from launching ground-to-ground to launching ship-to-ship. north korean dictator kim jong-un reportedly attended the test firing, the first in 16 months, while military authorities from the u.s., south korea and japan remain tight-lipped at this hour. analysts are saying last month's
satellite imagery showed rebuilding activity near a facility used to make long-range missile engines. we are watching north korea closely. u.s. markets choosing to focus on news stateside. see the dow at 26,585, gain of 135? the high of the session, just 10 points higher than we are now. that's a new 2019 intraday high that we have hit. the nasdaq also in just the past couple of minutes turning positive. it's up two points after being down most of the day. s&p better by six. some of this is coming from the biggest bounce in u.s. retail sales in more than a year and a half. consumers in march snapped up apparel, electronics, furniture, pushing overall sales up 1.6%. analysts were looking for what seemed to be pretty strong, anyway, 1.1%, so it is a beat any way you look at it. much of the spike propelled by new car and truck sales which soared some 3% last month. u.s. auto giants from ford to general motors to tesla, all in
the green right now. to the latest sears drama. the embattled retailer is now suing u.s. treasury secretary steven mnuchin, yes, that steven mnuchin. the company that used to own sears and kmart accuses mnuchin, who in the past served on sears' board, they are accusing also former ceo eddie lampert of stealing billions from the retailer and causing it to file for bankruptcy last october. the lawsuit filed by the restructuring team blames lampert and past board members for transferring more than $2 billion in assets to himself and others sears shareholders. as you look at this, that is not a typo on the screen. sears is just a penny stock, 73 cents. and a move of less than a penny brings it down 3.33%. nintendo heading to china after a 15-year ban on gaming consoles was reversed. that was in 2015. china has given the green light to ten cent holdings to
distribute the nintendo switch console and the new super mario brothers deluxe game. nintendo stock jumping 13% while no official release date has been given, that stock is really moving higher and we should also look at ten cent. this one's a big one, ten cent is up 28% year to date so today, a nice gain of a quarter of a percent only adds on to a very good 2019. market research firm nico partners estimates the number of gamers in china could hit more than 760 million by 2022. the number of parents totally annoyed by that could hit a billion. the spin game in full effect less than five hours after the public release and hand delivery to capitol hill of the mueller report. we are just getting this in. mayor pete buttigieg, he is running for president, he goes by mayor pete, right? moments ago he put out this tweet. quote, the mueller report is a disturbing, if not completely
surprising collection of evidence that shows a president putting his own interests ahead of the country's. today again demonstrates why we need to change the channel in 2020. and just before that, a statement from vice president
mike pence saying quote, today's release of the special counsel's report confirms what the president and i have said since day one. there was no collusion between the trump campaign and russia and there was no obstruction of justice. let us get to blake burman and blake, i am holding this up and it's pretty heavy. this is the report. reporter: i see it. yeah. liz: fox news and fox business have an entire team that have been picking through so much of this, and you've got a different story everywhere you look. reporter: yeah. there's two sides to every story or two sides to every 400-page mueller report, however you want to put the phrase. over here at the white house they are clearly celebratory today. one adviser calling this one of the best days for the president since he was elected into office more than two and a half years ago.
the president's legal team today called this a major win, a big win, total vindication, as we have heard from this president and those closest to him for awhile now. let me show you some of the statement from the legal team. they say quote, it is clear there was no criminal wrongdoing, nothing withheld, nothing concealed, nothing deleted, nothing destroyed and nothing bleached. that last there, little bit of a dig to hillary clinton. we heard from president trump just briefly earlier this morning and as he has repeated for months on end now, he said there was no collusion and no obstruction. >> i'm having a good day, too. it was called no collusion, no obstruction. this should never happen to another president again. this hoax. it should never happen to another president again. reporter: so the president says a good day for him but you also have to focus in this report on one very specific day, being
june 17th of 2017, because according to the mueller report, on that day in the summer of 2017, the president picked up the phone, called the white house counsel, don mcgahn, the lead attorney over here at the time for the white house, and the president according to mueller, told mcgahn to call rod rosenstein to have robert mueller, the special counsel, dismissed. at the time, when this was widely reported, at least reported by the "new york times" after the fact, the administration denied that that took place. here was kellyanne conway today trying to explain it all. >> if you look at the entire report, the president had the complete right to fire mueller. if he wanted to get rid of mueller he could just fire him. he doesn't need to do anything else. he could fire him the way he fired comey. he has a constitutional right to do this. this report made clear there's no evidence he fired jim comey to try to impede the investigation. reporter: you read the statement from the vice president.
he also went on to say essentially that from now on going forward, there should be the investigation into the investigators, some on the trump campaign say that today as well. bottom line here, the white house celebrating. that is their view. democrats, especially those up on capitol hill, want a whole lot more from this report and they want to hear from bob mueller. liz: understood. you know, people can say there was no this or there was this but right there on page 10, there is evidence destruction that was discovered and we can show it right here, but in essence, they were saying some individuals that were interviewed or investigated in relation to it deleted relevant communication or communicated via an encryption device. with all of these questions coming out, it's time to bring in people who are actually experts in this field. the white house says no collusion, no obstruction. others clearly looking to hold up certain parts of the mueller report as proof. proof of what?
let's bring in the legal guns. guy lewis ran the executive office of u.s. attorneys. that means he oversaw the work of all 93 u.s. attorneys in the department of justice at the time, including key mueller report player james comey. he also worked with deputy attorney general rod rosenstein, andrew mccabe and even robert mueller himself. he joins us now along with former senator and florida deputy attorney general, george lemieux, who has argued cases before the supreme court. guy, i will begin with you. page 9, insufficient evidence to support criminal charges. from what you have read, i'm guessing you agree with that? >> i do agree with that, liz. however, it's not -- look, it's a home run but not with the bases loaded. i would rather see, i would rather see, if i'm defending the president of the united states, no evidence that would support these charges as opposed to insufficient evidence.
that only means that there's enough evidence there for the democratic congress to pick up the ball and run with it, so this case is far, far from over. liz: you know, we can show the ten cases of what could be not passing the smell test when it comes to obstruction, and this was the issue, we can put them up on the screen, but there were a whole bunch of them. it specifically talked about all of these things, even william barr had mentioned this, campaign response to trump russia reports and some of that was the president apparently saying i'm f'ed, this is the end of my presidency, when he heard about it, his reaction there, appointment of mueller, efforts to remove, again, efforts really does that bear out, efforts to prevent public disclosure of evidence, and efforts to have an attorney general take control of the investigation. guy, i will continue to ask you this question. what jumps out at you, and is
the president right when he says, and tweets out game over? >> i don't think the president's right when he says game over. because clearly, congress as we speak are preparing subpoenas, they want mueller to testify, they want the background, they want the backup documentation for this report so it's going to go on and on and on. i really do think, liz, that what happened here, and bob mueller recognizes it. he doesn't even reach the question, he sort of punts it and says clearly in the report this may be something that congress wants to consider, but i do think that when mueller and his team, and bob's a good man, he's a good man, but when his team reached the conclusion on the collusion issue, on the russian collusion issue that there was no evidence of collusion, look, i was a prosecutor for a long time. at that point, you're sort of deflated and it's time to wrap up the investigation, and if there's a question about
obstruction, hey, let's punt it over to congress, where they can look at it and review it and do whatever they decide they want to do. liz: george, put on your legal eagle hat here and there were some things that popped up that fox news found very interesting, that anybody on any side might find interesting when it comes to no collusion. there was this point about donald trump jr., the president's son, who in the report, they apparently had that he had gotten a password from wikileaks to access a website, putintrump.com, and that website, once he was able to access it with the password given by wikileaks, he then replied thanks, i got in, or he was able to access it. what should americans think about that? >> well, it's hard to know, liz, what information was received by donald trump jr. when he looked at that website. what's really amazing to me in looking at this report, because we already know that there's the no collusion finding and there's
the inadequate evidence on obstruction of justice, but 200 pages of this report talks about how in mueller's words, the russians in a systematic and sweeping way interfered with the 2016 election. so lost in all of what's happening with the president and certainly guy is right, congress will litigate this issue in the court of public opinion for many months to come, the big issue here is that the russians, even russian military, were involved in trying to dismantle our election and what are we doing as a country, what is congress doing to make sure that doesn't happen again? liz: well, yes. and we recall when president trump had said i don't know if it was the russians. he did not exactly, guy, support his own internal people who were in security and the fbi and even, you know, at the highest levels of the state department that it was indeed the russians. but now let's quickly focus on this. why? why do you think mueller punted and why is he not out there right now explaining why he came
to these conclusions? >> well, a prosecutor -- >> i think george -- >> -- has to bring charges beyond a reasonable doubt and also there's a justice department policy about not bringing any charges against a sitting president of the united states. this was something as guy said that's going to be sent over to congress, and congress has the right to bring an impeachment if they want to. i don't think they will but they are certainly going to litigate this issue in their hearing rooms for the next year and a half. liz: we've got ten seconds. your last gut word on this. >> i think george is right. we have not seen the last part of this story. i don't know whether to start reading "war and peace" or this mueller report. i think they are both going to be equally long and never-ending. liz: that's pleasant. equally long, never-ending. we've got that to look forward to. guy, george, we appreciate you coming here to make sense of some of this for us. again, a 400-plus page report but as the saying goes, when one door opens, another door closes. with the closing bell ringing in
45 minutes, amazon slamming the door shut on its new york city headquarters, but netflix laying out the welcome mat, set to invest $100 million in a new production hub here in the big apple. they say it will create 127 new jobs by 2024. shares are currently up 1.5%. and the two newbies, pinterest and zoom, literally zooming on to the market scene but should you be buying into the hype? our floor show traders, plus one very special silicon valley insider talking about ipos and whether you should be sucked in, next. when you rent from national...
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liz: as we hear on "countdown" we always like the remind you it is not how stocks open, sorry, stuart varney, it is how they close. if we were to close right now, call the dueling high profile ipos that burst on to the scene major league home runs. 200pinterest employees flooding the floor of the new york stock exchange for the social media hobby site, unveil on its ipo. pinterest's ticker symbol, pins. then to the right, video
conferencing firm zoom surging on the nasdaq. according to a new study by the university of florida, ipo first day returns don't predict long run returns and we didn't need an expert to tell us that. but as we continue to monitor the stocks in the final hour of trade, pinterest is just charging ahead, a gain right now of 29.7% to $24.64. this thing was priced at $19. and zoom video, which was priced to $36, is at $63.04 right now. that's a 75% gain. to the floor show and our traders at the new york stock exchange, cme and of course, we have a special cameo appearance. we welcome market watcher superstar, technology editor jeremy owens. jeremy, let me just throw it to you first. great day but i recall another ipo had a similar great day and that was lyft. so what is the message to our viewers right now about these names? >> well, they're going to get their money.
anybody who wants it is going to jack that up in the first day, right? if you look at zoom, that's obviously people saying i want to be long on this stock and i don't care what it costs me. how long does that demand last, though? like you said, people were willing to do that on day one. day two, three, four, that demand wasn't there anymore. now we will see elevated levels but it shows you what kind of enthusiasm there is right now for these companies that have been in the pipeline for so long and haven't gotten there. now they're there, there are people who want those stocks. liz: i get the zoom interest, phil flynn. this is a company that has made some real coin. i was looking at the numbers. as it opened and spiked, i could see why. revenue in 2018 was $330 million. that was up 118% year over year. then the profits came in at 7.6 million. not a huge amount but a winner here. is there a way to sift through and pick one or the other? >> absolutely. profits in a union cocorn, prof? do any of these other people
have profits? that's why zoom is zooming. everybody wants it. this company has been very well run. they haven't raised a lot of money. the pinterest, that obviously has a lot of appeal, it's very flashy, but if you look at their actual numbers, the zoom numbers are a lot more solid. so it seems that zoom, just from a business standpoint, has a lot more legs, where pinterest at some point could really be the next big thing but they have a lot of debt, a lot of competition. i think pinterest will fade a lot faster than zoom. i think zoom is for real. liz: yeah. hey, let me pin a picture of my lebron james froot loop shoes, whatever. sarge, the lyft effect. let our viewers understand about that. >> let me tell you something here. lyft hurt the markets pretty badly. if these two names hadn't held their levels or sort of post held their level, it would be a much tougher environment going forward. i'm going to give a shout-out to your network here. this morning i was all set to
buy some zoom on the open. i was willing to pay about 40 bucks. stock moved up to 50, 60, out of my range. then i noticed someone named gerri willis in the crowd on tv giving me a feed faster than i was getting it elsewhere. she's telling me it's $23.75 for pinterest. i take a look, i see rising revenues, expenses coming down, you know what, i can pay $23.75 for pinterest. so i take down a chunk. now the stock's trading at $24 something. i made a few bucks today. thanks to gerri willis. liz: well, a rat's tail. okay. we want to thank jeremy, phil flynn, and steven guilfoyle. we are watching both of those stocks and will check them at the end to see what kind of gains they hold on this first day. skechers, wiping out. with the closing bell ringing about 36 minutes away, misses on both first quarter epf and revenue plus weak guidance. that is never a good combination. yep, it's tripping up shares of
the athletic footwear maker. skechers, by the way, while down 10%, has made shoes that won people the boston marathon. on the flipside, t-mobile walking tall right now. shares of magenta man john ledger's telecom giant glowing in green. the big move into the financial world that has investors dialing up a buy. all that and more, coming up on "countdown." d 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.
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they went through together. welcome guys. life well planned. see what a raymond james financial advisor can do for you. i think that the smarter move for the wga would have been to go to court on behalf of their members, and in a lawsuit, if you started to open up in discovery the e-mails of the talent agencies and see how they refer to the package fees and what their strategies are, i think it would be very ugly for them and they would probably have to settle beforehand. liz: what would talent agents' e-mails really say? it appears the writers guild might have been watching "countdown" on monday when hollywood producer gavin polone
of "curb your enthusiasm" told us the way to win a battle with the agents would be to slap a lawsuit on them. that's what writers guild members did yesterday, filing suit in l.a. superior court to establish that talent agency packaging fees should be deemed illegal now under both california and federal law. the writers argue the long-time practice whereby agents negotiate with studios to get the biggest and best fees for themselves on the backs of writers' creations is an outrageous conflict of interest and the writers say it's time to end it. the plaintiffs include the big four agencies, caa, uta, icm and wme and through their reps at the association of talent agents, they issued a statement last night saying the suit is quote, ironic given that the guild itself has agreed to the legitimacy of packaging for more than 43 years. thousands of writers voluntarily fired their agents last weekend
when the long-standing agreement of 43 years between the writers guild and the agents expired. they say it's been going on too long, they are done, they want to change it. we will be following that drama. from the hollywood hills to the new york stock exchange. gerri, did you hear you gained sarge's respect? gerri: i did. that's pretty amazing. wow. okay. let me tell you, consumer good giants unilever posting stronger than expected first quarter growth. the company says growth was fueled by, get this, dessert products. they singled out their new heal healthier product magnum bars. after four straight losing quarters, pier one imports making a change at the top. nancy walsh is out after nearly a year at the job. she will be replaced by deborah reader, who is currently a managing director in the turnaround and restructuring
business. shares plunging after they lost $61 million in the first quarter and announced plans to close at least 45 stores. [ inaudible ] t-mobile jumping into the banking business with t-mobile money, a new checking account that requires no minimum balance and has no monthly or overdraft fees. if you are a customer you qualify for an interest rate of 4%. coming up next, as presidential candidates rush to rip apart the mueller report, what will be the impact on voters? stay with us. i switched to liberty mutual,
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liz: i'm not going to say it. i am not going to say it's mueller time. everybody's saying that. we're not going to do it on "countdown" because it's overused, this twist on a classic beer slogan. but it does encapsulate two years of the hopes and dreams of some of donald trump's fiercest critics. both sides see something they really like and wanted in it. president trump tweeted this image sort of a "game of thrones" style meme and if we can put that up, it says game over, no collusion, no obstruction for the haters and the radical left democrats. but special counsel mueller never said no obstruction. he did defer decision to attorney general bill barr, who declined to charge. presidential hopeful democratic congressman eric swalwell responding, quote, you can be the president's defense attorney or america's attorney general, but you can't be both. so it's not a surprise but a whole bunch of other candidates
are really coming through with it but others are not paying as much attention to the report. the cory booker campaign, first press release after the report, about the senator touring iowa to tout his economic program. how will the mueller report end up impacting the 2020 election? we bring in former ubs america chairman and ceo, 32 advisers founder and ceo and former obama adviser and fox contributor, robert wolf. then we also got mayor pete. >> love mayor pete. liz: pete buttigieg, he's on the cover right now of "new york" magazine so he's hitting that zeitgeist moment. he put out a tweet. mueller report's disturbing if not completely surprising collection of evidence that shows a president putting his own interests ahead of the country's. today again demonstrates why we need to change the channel in 2020. so to the 2020 election. how does this really change or affect it, if at all? >> i think you have to, you know, bifurcate democrats right here. you have the congress which
absolutely is going to take this further. it was clear today whether it's nadler or schiff that there is going to be subpoenas and more testimony and whether or not you like it, democrats or republicans, we are going to be hearing about obstruction for a long time. on the presidential side, as you know, we have spoken, i have met with many of them including mayor pete and cory and swalwell and a bunch of them. it's clear to me equally that on the campaign, iowa, new hampshire, south carolina, nevada, the first four primaries, this is not what they want to talk about. they want to talk about kitchen table things, wages, education, health care, not the mueller report, okay, not a barr statement. that is not going to help them win. you can't win by being anti-trump. you have to win by being for something. liz: here they are raising money. bernie sanders in the lead at the moment. again, joe biden has not declared a candidacy yet. kamala -- >> next week, likely. liz: likely next week. but bernie sanders is on a roll.
he had the town hall here, four million views of that town hall here on fox news, and i find it really fascinating to see that they are all now trying to get equally as much attention, so you believe that they will turn their backs on this thing because does america really care, i mean, they want to move ahead and look at other things. it is certainly titillating, some of the stuff in it, but you are telling me these guys will most likely move on? >> they have to move on, because this is not what voters want to talk about. they don't want to talk about, you know, obstruction, collusion. that doesn't mean congress shouldn't do their job. today, in my opinion, i think actually attorney general barr did president trump a disservice. he acted more like a cheerleader. i thought chris wallace had some of the best quotes on it today on the idea that, you know, he didn't really act like the attorney general, he acted like a personal attorney. you know, that being said, moving back to the presidential election, we have to beat the president at the ballot box.
that's where you have to beat him. you can't beat him in a courtroom. you can't beat him on tv. you have to beat him by showing you are better for the economy, better for health care, and i think we did a good job of that in the midterms but you know, we're 600 days away from the next election. we have a real horse race ahead of us and today, bernie's the front-runner. i don't know if it will stay that way. liz: i do have to say about the economy, though, it is starting to find its footing once again. it was almost a very brief blink in time where december, october, those were nervewracking. but today, we got an incredibly strong retail sales number for last month. so that's a tough number to beat, when you're looking at a stretch of really strong employment, very light unemployment, and the economy does look good. >> first of all, i'm happy the economy's doing better. liz: we all should be. >> what i will tell you, i have been on a comeback cities tour, we are doing stuff in flint and in ohio. there's wage stagnation that's going on.
there's underemployment. i know the numbers feel good, but people don't feel great. they are working two and three jobs, there's an argument about, you know, $15 an hour. people are making $30, $40 an hour when they were doing industrial jobs. you know, my view is beating president trump, it is not going to be easy. we are going to have to make sure that we have our best foot forward and we talk a lot about the economy. today, you know, talking about obstruction of justice is not going to do it. liz: there was one guy who was rumored to run, he said no, jamie dimon of jpmorgan chase. he was on this morning on fox business and he introduced two women, two top executives that he says he has promoted and he said they are full of brain power and character and it's a wonderful thing. is there a chance that a female might succeed to the top of one of these banks? >> yes, absolutely. jam aups bei jamie's been a role model in the
industry for years. i remember i was an executive at a weekend meeting, he was kind of like the leader, everyone waited for him to speak and we would speak after. i think if someone is going to do it, i could see them doing it because they are the most stable and they have some great people. i have met marian lake before. she's a rock star. i don't know the other woman. the other thing i would say is, you know, when they were on capitol hill a few weeks ago, it was kind of stunning when you saw, you know, i don't know, half a dozen or six to ten executives, all male, representing financial services. that's not where we are as a country today. so i'm hopeful that we have a meritocracy and one of these two women go to the forefront. liz: thank you. i like what you just said. appreciate it. robert wolf. he ran a big bank. we will see you next time. thank you so much. dow is holding on to pretty much all of the gains here, just about 20 points but we rup 122 at the moment. we'll be right back.
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i love cake. finding the right aarp medicare supplement plan for you could be just a quick call away. so...call. liz: we are just getting this breaking news. you might want to consider updating your instagram password. this as facebook saying just moments ago that instagram's passwords were apparently visible on internal storage systems. >> what does that mean? liz: hold on. facebook stating in an updated blog post that the issue quote, affected millions of instagram passwords. you know, so wait, just wait. the original announcement made back on march 21st, passwords were never visible to outsiders, right, and that appearing no longer to be the case. >> what could they do? liz: facebook down about half a percent. >> they get into your instagram
account. for what? liz: mine's private. to do what? see it. i don't know. my stuff. now let's get to your stuff. herman cain, stephen moore. talk. >> okay. they are seven members of the fed board. there are two vacancies. the fed chairman, jerome powell, selected by trump, obviously, the board members when they become vacant are selected by the president. it's the policy-making committee of the fed, the governing body. it basically votes to raise interest rates, do quantitative easing. it's called monetary policy. it's a big part of the economy, controlling the money supply, okay? he wants to put two guys in there, steve moore, herman cain. we should point out these are somewhat unconventional selections. why is that? trump wants to be a disrupter. he's not putting people in there from the economic globalist policy establishment. he's putting a businessman,
herman cain, stephen moore. served as chairman of the kansas city fed way back when but he's maybe known as ceo of godfather's pizza. steve moore, little different. a polemicist. editorial writer. worked at the heritage foundation. one of the authors of trump's tax plan. not considered part of the crew. that started out the resistance. the resistance doubled down on some personal stuff. herman cain allegations of sexual misconduct. liz: cain in this hour yesterday said he's not going to back out of his nomination. >> he has denied those. steve moore, you know, stuff about taxes, just doesn't look good. here's what we know. liz: let's stop for people who don't know. >> he didn't pay taxes or there's a tax lien on him. it has something to do with child support. i'm going to do a story on all this that will lay it out. i don't want to misstate it because it's somewhat complicated but it doesn't look good. here's what we know. i'm writing this up for foxbusiness.com so you can read
it and get all the gory details. the trump administration has gone to the senate banking committee, to the republicans, it's controlled by the republicans, so it's somewhat of a friendly audience. they have recently -- my information is good as of yesterday -- they have recently gone and asked give us the prognostication on cain and moore. the prognostication on cain as of now is a negative. he cannot get through. they think these sexual misconduct allegations are problematic. now, that doesn't mean it won't change. that's what they're saying. the prognostication on moore, somewhat better but still not good. he's got some support in the senate banking committee for obvious reasons. he's the co-author of the trump tax plan. he's a known quantity with some of these folks but still, not good. that's the reason why you hear larry kudlow go on tv saying we're considering other names. as of right now, even though moore is somewhat better than cain, even though neither of them are pulling out, they don't
think they can get them through as of now. that doesn't mean it won't change. but i'm telling you, this is -- these things are on life support. i will say one other thing. there is a theory out there that they are going to go without filling these positions. you don't need to fill them to do -- for the fed to do its work. it's not like not having a treasury secretary, right? so remember that. they don't have to fill them and a lot of people think trump put these guys up just to send a message to jerome powell, hey, guess what, i'm watching you, i want you to keep interest rates low. remember, he threatened to remove powell at one point. just watch how this plays out. as of now, we are hearing very difficult to get either guy through. cain is essentially d.o.a. liz: charlie gasparino, thank you. >> okay. liz: thank you. i let you talk. >> i just want to know about instagram. by the way, doesn't bob barr sound like dr. evil? he's exonerated. the president did no collusion. he's exonerated. liz: eight minutes before the closing bell rings.
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liz: okay, dow up 108. the nasdaq flipped back negative. eyes glued to pinterest and zoom. see how they're finishing on the ipo day. gerri? reporter: this is amazing battle of tech unicorns. pin doing well up 28%. let's look at numbers right here, closing at 24.53. last night it was priced at 19. lots of demand for what is an online bulletin board for moms, really. a great advertising platform. the shares did very welcoming in with a 12 billion valuation but zoom also doing extremely well.
that company considered a little brother to pin. valuation 15 billion. 15 billion compared to 12 billion for pinterest. amazing finish for the two companies. a lot of people down on the floor. a lot of excitement by ipos. the market only getting hotter. liz: qualcomm ventures and sequoia partners invested in zoom. i bet they're happy. three minutes to go. some coaches say great offense is a great defense. our countdown closer says same for your portfolio. we have david spika. what's your great defense? >> our great defense to recognize there is much risk in the market. look at pinterest and zoom today. investors are not pricing the real risk. we have earnings growth going south. i don't know why investors are
not looking at that. the fed is done. we priced good news for china. we need to pay attention earnings growth. if earnings growth doesn't go higher. liz: about a week ago we looked at numbers subpoena earnings were predicted to drop 2.4%. that has been rejiggered to 1.8% down. >> it is still negative. the expectation is for negative in the first quarter and negative in the second quarter and importantly margin compression, which we haven't seen in years. so rising wages, rising input costs, oil prices all of that is impacting margins. liz: what do i buy to play defense? >> i think health care looks great today. despite what bernie is saying -- liz: down past couple days. >> bernie saying "medicare for all." it is not going to happen. it is headline risk. the stocks overpriced the potential risk. there is a great opportunity for value. liz: your favorite names? >> sectors we buy managing care
which taken the brown because of "medicare for all" talk. we like medical devices. there is lot of value. liz: the medical devices, tax on medical devices was overhang the past several years. >> right. but we see potential for great growth, great earnings growth potential this is area from valuation perspective, where are you finding value, liz? you not finding in in tech. you're not finding it in energy. not finding it in durables. we are finding it in a market i think is getting ahead of itself. liz: people are glitter eyed about growth stocks. they take the money they make put it back into growing. sometimes when you hit a stumbling block empty economy things go south. >> yes. you can't overpay for growth. you want to go back to the 1990s? liz: no. >> want to go back to last summer, same thing was going on. way too much risk was priced in. people were not paying attention what is going on. they were putting too much emphasis what happened behind
and extrapolating that going forward. liz: he looks like a young pup. he and i go way back. david spika, what, 20 years or something? >> absolutely. [closing bell rings] liz: thank you so much. the markets may be closed tomorrow. that doesn't stop fox business. "countdown" will be here live. we'll see you tomorrow. melissa: washington in a frenzy. any minute president society h set to leave the white house for mar-a-lago. following the release of the mueller report. i'm kristina partsinevelos in for melissa francis. ashley: guess what, i'm ashley webster in for connell mcshane this is "after the bell." now the dow closing at a 2019 high. ending up as you can see up 111 points. s&p 500 also in the green. tech-heavy nasdaq, fighting for gains apt the very close. the markets by the way we should note are closed tomorrow for