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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  April 29, 2019 3:00pm-4:01pm EDT

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i could tell you right now, liz claman, outside of the lyft debacle it has been an amazing i po season thus far. liz: they're all rushing do you see that? these companies see a very rich and fertile opportunity i think to go public. there's a short window depending on which year we're in charles thank you very much. folks in this hour we do expect former vice president joe biden to make his very first campaign speech of the 2020 race, and to debut his official remarks on the middle class, jobs, unions, and the economy. we are going to take you there live, when it happens and in the meantime, t-mobile and sprint announcing they need a little more time to complete their $26 billion merger announced way back when on fox business a marriage that would create the nation's third biggest wireless
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carrier and charlie gasparino just got a late breaking one on one with the nations top anti- trust lawyer who ultimately decides, in just moments charlie breaks it. and, a super showing for a star studded super hero affair, avengers end game crushing record after record, but what would you have paid for the privilege of watching sizzling hot movies like this one, opening day, at home, on your couch? the company that now is going to allow you to do that for a price the ceo is here about to tell you how much it'll cost in a fox business exclusive. we've got our eye to the sky as wall street hits sky high records at this hour the s&p and nasdac closing in on brand new record levels, plus, what role google will play out in its earnings that are out in just over an hour, and boeing tries to get shareholder turbulence and on this monday, tesla stock
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revving the engine with less than an hour to the closing bell so let's start the countdown. and we are just getting this breaking news the fbi is reporting it received tips on a threatening social media post just five minutes before that shooter opened fire on on the southern california synagogue saturday one woman was killed including three others and a rabbi and very young child were wounded. the tips were submitted through its website and via phone calls reported on a social media post with a link to the alleged shooter the 19-year-old john earnest so-called manifesto which did not offer specific information about its author or about the location of the threat , but we just want to give you this update on that horrific murder and shooting. well the bulls to the markets
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are kicking it on this wall street final hour of trade monday, and with the help of consumer and energy names the s&p and the nasdac could see the second session in a row of all-time record closes. we have the dow up 40, s&p up 7 and the nasdac gaining 26. now as we kickoff the busiest week for earnings, 150 s&p 500 companies report this week, just because the company reports though doesn't mean even if they show growth, that of course, we're going to see that stock on the move. in the meantime, the already year-long wait for t-mobile and sprint's $26 billion mega merger to solidify just got a bit longer. so here is what's happening the telecom giants today said they have to extend the deadline to july 29. let me get to charlie gasparino, whose live in beverly hills where he just spoke one on one to the man with the power to make or break this deal charlie what did he say? charlie: yeah, well it's interesting. he said a lot more on a few
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other subjects than on this deal remember this is a quiet period, they are still deliberating on it and he did say he's looking at it and he hasn't made up his mind so i pivoted and said what else is on the radar screen of the doj and i-trust, and aside from broadcasting in telecom which he spent a lot of time and he said big tech is clearly on his radar screen. google, facebook, amazon. listen to what he had to say. >> you spend a rot of time on broadcast. will there be an anti-trust pivot into tech whether amazon is too big, whether facebook has too much power, whether apple controls its universe in too big of a way. >> so i think that's a great question and something that's been the subject of debate of technology companies. i think too big and those anti- trust have a role? as i've said before a company just because they've been successful and have gotten big do not violate the anti-trust laws it's only when they engage
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in certain conduct and that's always something where i think anti-trust laws always good to be timely, to do it before there's a disruption and harm to the markets, so if any company, whether it's tech or otherwise, engages in conduct it is important for us to pay attention to make sure they don't harm competition. charlie: are you like monitoring this size of tech? it's out there, i mean people talk about it every day that it's too big. is that something you guys actively monitor? >> of course in any markets we look at but it's not so much the size of them. we're not in the business of saying you know you should be a certain size or not, as long as you're not engaging in anti- competitive conduct, and that harms the marketplace, so that's something that we are looking but you know, we're not ignorant to the fact that google , facebook, amazon or other companies, out there, are big, and have a huge impact in the american consumers lives. charlie: has anybody stepped over the line yet? >> i should not comment on
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anybody, about any investigative matter, but of course you do and you're doing your job well but one of the interesting areas and we're having a two-day workshop in washington thursday and friday is the issue of broadcast and broadcast advertising and online digital advertising, and i think we will learn a lot about the competitive impact of that kind of data, and those markets in advertising for the future. charlie: tell me how long are you going to stay in this job? will you be here the next two years? you go another term? do you like what you're doing? >> well, i love what i'm doing. as you know, 15 years ago i was at the anti-trust division as a deputy, and been very fortunate to have had this privilege of being here and i will do it as long as i can serve and add value. charlie: as long as the president wants to keep me there >> i've got you. charlie: well there you go, liz he kind of punted on how long
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he's going to stay but he did say that big tech is on the radar screen, if you're a shareholder in google, facebook, amazon, apple i think is a little different for a lot of other reasons we don't have to get into now but this is clearly something on the radar screen. the trump adminitration is going to take a much more free market approach. i always pronounce his name wrong, it's a free market here but clearly they are worried about the size and influence of tech and you'll clearly get some of that out of democrats in congress so big tech is going to obviously face it from both ends from the trump adminitration in terms of monitoring their behavior and maybe, maybe possibly, bringing a case if they step over the line, he obviously did not rule that out and also from congress if you do have a democratic administration it's much more tough on big tech liz: charlie, he just said, wait , he literally just said just because a company gets gigantic doesn't mean it violate s anti-trust so what about sprint and t-mobile? these are two companies who need to merge to survive and right
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now we've got them moving in opposite directions by the way on the stock. charlie: well here is what i would say, liz. everybody is asking him about sprint and t-mobile. he's the guy on the hot seat right now. what i would also tell you all of this answers are pretty canned okay? he knows anything he says will move the stock. i think what he told me is essentially this. sprint and t-mobile are making decent arguments. i haven't made up my mind. that's essentially what he said. liz: all right interesting stuff good job charlie. charlie: are you jealous i'm here in your home turf. liz: please do not destroy my hometown of beverly hills i don't know who let him in the door. charlie we'll see you later from a telecom bottle to an infrastructure fight democratic leadership says for real and effective impact, the country needs to invest $2 trillion in america's crumbling infrastructure. now, tomorrow president trump will be meeting with senator
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chuck schumer, house speaker nancy pelosi and other top democrats to discuss terms of a potential infrastructure deal. maria bartiromo sat down with treasury secretary steven mnuchin this morning and he agreed the 2 trillion number works but the process is still a question mark. >> i think we'd be thrills to have a 2 trillion-dollar program but its got to be paid for and there's got to be offsets, so those are discussions that we'll be having with the democrats. we need bipartisan support so we're going to sit down with both parties, and the white house, and see if this is something we can get done. liz: you guys know me. there's always a trade, right? that's what we talk about on " countdown" so if in the infrastructure plan were to come to fruition which stocks are set to benefit the most? to our floor show trader, scott redler, i'll let you take first crack on the chance both sides of the aisle march to the same beat where should investors see some money now?
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>> well if you want to put some money to work i think caterpillar, i think caterpillar is a well-known name, it's trading very cheap and its been out of play and i think you can get a two-prong approach if the china deal happens yes you neat caterpillar for earth-moving equipment and infrastructure same thing here so i think caterpillar is trading around 135ish so maybe put a little money to work but if it gets above 145 it could turn on as a momentum trade and lastly i would buy u.s. steel that company has been left for dead. it's broken and in the trash but it trades at 15.5 maybe go out three months and buy $15 so if we do get some kind of bill in the works you need steel and it's a u.s.-based company perhaps that gets a little money flows and at least with options risk is premium paid. liz: u.s. steel, 58% loss, year-over-year so you wouldn't be buying it at too rich a price give us your sense of what names might really benefit if we did
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again as scott mentions, you know, see something that's rare in washington, where both sides get to the same side of the aisle here. >> yeah, liz well before i get to the names i just want to say that it's about time. it's 10 years overdue. they should have done an infrastructure 10 years ago and gotten people to work instead of just buying bonds and having companies do financial engineering, so besides that, i think the same things, ike like caterpillar because heavy earth moving equipment and they won't use kamatsu from asia or japan o caterpillar, also martin marietta, i think they have a lot of stuff that would ben pt from infrastructure i think that's a good name and i also agree with the steel play i'm just not exactly sure where to do that steel play yet and to your point, liz this is going to be some serious horse trading, people are going to try to get carve-outs this thing won't happen in a day or two. they are going to go at it and i
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think there's stuff about the wall in there that the democrats aren't going to let in so we could look forward to it but it's not happening right away. liz: well it's a win for both sides if it's done properly. gentlemen thank you for your ideas. >> if they can't agree on this they will never get anything done. liz: exactly. i mean, really? but they have agreed over the past year on a few things we'll be watching it scott, luke, thank you so much. we have 48 minutes before the closing bell rings and american airlines is getting some lift. the u.s. carrier snags an upgrade from deutsche bank, after it said high fuel prices and the grounding of those boeing 737 max fleets, will impact its pre-tax profits by $1 billion, now, deutsche says that establishes a floor for the stock price, and thus the call to buy it right now at $33.78. by the way, deutsche also talked in a price target hike from 33 to $40. the skies not as friendly for boeing as its chief executive
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tries to answer questions and quell concerns that its annual meeting, the angst swirling around the two deadly 737 max jet crashes, but also, around new revelations. boeing neglected to warn airlines about problems it knew existed. jeff flock is at that meeting live in chicago with reactions to ceo's comments about safety, but also about compensation for the hundreds of victims. "countdown" coming right back.
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liz: very tough timing for boeing just ahead of the company's annual meeting today boeing got punched with another round of bad pr. southwest airlines now says the planemaker did not tell southwest it had deactivated a safety feature from its boeing 737 max jets, until after one had already crashed. the airline says the safety feature was this sort of alert that would light up in the cockpit of one of these 737 max jets angle of attack sensors and would allow it to indicate that it was faulty data coming in about the pitch of the plane's nose, so this angle of attack sensor is now at the center of
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the investigation into not one but two deadly crashes. let us go live to jeff flock who was right there watching as shareholders walked into that meeting and jeff, this was the company having to respond to all of these allegations. how did it go? reporter: yeah, it gets kind of technical with you talking about the angle of attack sensor. the company's take on that is that was something that was put on previous 737 and the new max 's didn't have it but somehow the airlines didn't seem to know that. well, i'll tell you, it gets tough and you get in the weeds on this, dennis mullenberg as much today noted for what he didn't say as what he did say, but what he didn't say is that boeing isn't any way at fault over this. he says actually, in his strongest language yet it could be pilot error in both of the crashes because the design he feels was solid. here is how he put it. listen. >> we've confirmed that it was
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designed per our standards, certified per our standards, and we're confident in that process, so it operated according to those design certification standards. reporter: of course the family members of the people that were killed in those crashes wondering well just how possibly could that be and multiple of them have filed a lawsuit today in chicago. boeing's corporate home, of ten different people filing lawsuits against boeing, against the maker of that sensor that we talked about and then also against the faa, which they say was neglect in certifying this plane when it wasn't safe. we talk to one of the family members of one of the victims. >> we're trying to send a message that these are the victims and here are their faces they're not just numbers to be moved past. boeing needs to open up about the chain of events inside their company and with the faa that
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led to the deaths of 346 people and here they are. reporter: tough for the shareholders i tell you the questions from the shareholders, liz were just as tough as the questions from the reporters today. obviously we got the stock, you're not happy, and you'd like some answers. liz? liz: jeff, you know, that was a very fair and balanced report and to show the people outside who are very concerned about this, i know our viewers thank us and we know it's a tough time for boeing either way, boeing still since the first air crash up about five and two-thirds percent we'll be watching all of this, jeff flock in chicago. marvel us opening, with the closing bell ringing in 40 minutes avengers end game smashing, crushing records for opening weekends but as fans lined up in long lines to see the movie at all hours of the day and night, wouldn't it have
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liz: we told you how big a advantagers end game was going to be and yes it did take moviegoers and box office number s by storms smashing multiple records raking in $1.2 billion in global ticket sales, in its opening weekend. it beat everything, okay? but the disney blockbuster officially the fastest film to ever break the $1 billion sound barrier, did it in just five days but what if we told you that you could watch mega
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blockbusters like the avengers in the comfort of your own home with your own food and bathroom and on your own couch on opening day without leaving your house? red carpet home send cinema is the company about to let you join the ranks of hollywood's vi p's that allows you to rent movies currently in theaters, for a price. the guy whose come up with this is fred rosen, the founder behind the unique luxury service , red carpet home cinema you're here on a fox business exclusive this just blew out into the news. huge piece in the new york times and we are your first interview here on this and i have to know how it works. >> well the way it works is you need to buy a media server that's $15,000, and that -- liz: oh, wait hold on. >> yeah, but look, everything comes with a luxury product. we know the following, right? you can buy a bottle of wayne for $2 and buy a bottle of wine
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for $1,500 and when you look at every product, it has a luxury product so what i thought when we started this was that why shouldn't movies have a luxury product. kids can watch a movie on a phone 90 days later for $2. liz: sometimes sooner and it's pirated. >> right so these media servers have anti-counterfeiting measure s in them, everything is digitally watermarked and we're not here to disrupt anything. this is for a very limited audience, basically we think four or 5,000 people around the united states. liz: let's say i'm a 1% i put out the money for the $15,000 server. right. liz: i am a god still a fan by the way and i always cry. >> i understand it's emotional. liz: it is very emotional but it's coming out soon. i want it in my house. how much? >> it'll be $3,000. the two shows for 36 hours but remember this in a world we live
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in. liz: [laughter] >> don't laugh it's content because look you can sit on the floor at a basketball game for $3,000, and the reality is people consume content in the way that they can afford it and to the extent that it's valuable to them, and no one is forcing anybody to do this. look, $1 billion got spent this weekend and when you think about that that means 150 million people went to the movies, how cool is that? that something could make you leave your home and go do that and so for a limited audience for a luxury product we've introduced this. liz: you've got hell boy coming up, john wick, chapter 3, rocket man, the elton john movie are they all the same price? >> it's all between two and $3,000. liz: finally how did you strike deals with the movie theaters to get them to cough this up? >> it's not movie theaters. it's the studios. look the studios have had all kinds of people coming in trying to disrupt the business they wanted to do it at cheap prices and wanted to do it at $40, $50,
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$30 and in the end, the studios have a real serious relationship with the exhibits and they don't want to be in the middle of any of that so we went to the studio s and said look, every product comes with a luxury product and my ticketing background from scaling tickets and changing the world. liz: former ticketmaster ceo. >> i built that company so the reality of that underneath it was that people understood that and also the other side is this. my partner in this, whose head of distribution at warner brothers for 30 years and so when you look at everything that's driven by relationships, the studios dealing with people they know and they have an understanding and they want to protect the existing solar system. liz: the company is called red carpet home cinema. save up your money. this is cool you could have parties events i love it, i think it's great for the 1% or 2 %. fred, congratulations. >> thank you liz. liz: please come back and let us know how it's going.
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>> there will be another. liz: it's very painful for me. dow jones industrial is up 41 points closing down, 30 minutes away and by the way we just got word joe biden in the house, just minutes away, from making his first campaign speech of the 2020 race, we're going to take you live to pittsburgh to hear what the former vice president and democratic front runner has to say. countdown coming right back, don't move. my body is truly powerful. i have the power to lower my blood sugar and a1c. because i can still make my own insulin. and trulicity activates my body to release it like it's supposed to. trulicity is for people with type 2 diabetes. it's not insulin. i take it once a week. it starts acting in my body from the first dose. trulicity isn't for people with type 1 diabetes or diabetic ketoacidosis. don't take trulicity if you're allergic to it, you or your family have medullary thyroid cancer,
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all-time intraday high and look at this, right at this minute, all-time high. rallying about 1% and change ahead of this afternoon's earnings release and now if you google alphabet earnings ahead of its report investors focus is as follows. youtube, cloud computing, digital advertising, and traffic acquisition costs. those are the big focal points when it comes to revenue but what about the products coming out of the company's moon shot factory such as project wing, that autonomous drone delivery service that just got faa approval to test out here in the u.s.? actually launch it and then there's waymo, the autonomous vehicle company that we got to ride along on. how will google alphabet play with these moon shot numbers when the companies earnings report? we bring in independent tech expert and journalist, and benchmark investments managing partner kevin kelly, lance to you first. what's the metric that you will
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keep your eye most closely upon? >> i men where they get most of their money from advertising and what sort of trend that's probably the thing that i watch most closely if something crazy happens, and it goes down i don't expect that. they pes refollowing a lot of the trends that the other folks in the business are like they are going to see the flattening out a little bit of the cloud business as it gets a little saturated, they're looking for other places for revenue because they want to be only reliant on all of the money coming from advertising revenue even though it's so big it's hard to do otherwise that's why they sell hardware and that makes some difference but not a lot. i think that they have some of the hardware they're doing well, like google wi-fi and home. i don't know how well they are doing on the pixel side. liz: gosh they have so many businesses many of which, kevin, were launched at moon shots out of the google project x sort of secret black box area of all of
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this so how much do you look at those names as either a prediction of the future earnings or current revenue that comes in? >> yeah i think it's pretty fascinating you're bringing up their moon shots because one of the things you're facing is a lot of regulatory costs as well as capital expenditures so i'm focused on the cloud infrastructure side of the business because last quarter they were down after they announced they will spend $13 billion building out their cloud and we just saw in the earnings announcements from microsoft as well as amazon web services that's an area they spend a lot more money on so google announced earlier this quarter they will have their online gaming service they want to be the netflix of gaming and have to build-out hyperscale data centers just to process those applications. the amount of money they will spend on that is unprecedented, so i'd rather be focusing on the data center companies, especially because we know they're going to be spending an ungodly amount of money especially for the moon shots
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too. liz: lance, stadia, that is their gaming effort but on top of that we can't ignore youtube and that has been a little hard to quantify when it comes to what kind of revenue comes in from that. >> right they don't like to break that out but we know just based on the number of people watching, the countless hours they're watching and all those videos that are running they are making a lot of money on it, but youtube, like so much of the rest of the internet is under close scrutiny because of the content that's in it and one of the things that i wonder about is what sort of regulations google will face in the near future that could impact really the experience, the youtube experience because they are being asked by the eu and others to really control the contents that's on there for copyright to control it for fake news, to control it for our children, and those things, by the way, cost a lot of money, not that google doesn't have the money, but they haven't solved all of these
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issues. liz: charlie gasparino was just speaking of course of the anti-trust division at the department of justice, kevin and he said just because a company becomes huge doesn't mean it's violating anti-trust regulations ; however, it is at the forefront you look at the eu penalties that have been placed on goggle and google again, out in about 25 minutes with earnings, so stay tuned for that, it's something that we really need to keep an eye on, the governments including our own, breathing heavily down google's neck. >> and you're also seeing that happen in the state of california came out with their own privacy rules and regulation s that go into effect next year that the companies are trying to help let them, let actually the legislators know what they can and cannot abide by especially on a privacy side we're seeing state attorneys generals get into that and then talk about waymo about what it has to do on a stateside for regulations for autonomous driving and it's going to be
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pretty crazy and build-out 5g to process that so i don't think waymo will be able to have any chance to be fully deployed in the next five maybe 10 years. liz: they have a long runway and a long fuse for patients, believe me they've been doing this already for 10 years over at waymo. let me just switch gears as we are awaiting joe biden's first speech, as a candidate for president. i want to quickly ask you about apple. apple is reporting tomorrow lance what should investors watch for? >> well it's getting a little difficult with apple because they won't break out iphone numbers that was the number we love to watch for so now we have to read the tea leaves, but certainly, you know we're going to be watching the area that's growing really fast, services, which is a focal point for apple now, not only has it been sort of a rocket ship growth but they're adding new services this year we're going to see in games oracle in news, and in television and all of that is going to have a big impact later in the year.
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also even their accessories business. the air pods business is just exploding and that's kind of combined with the apple watch business so that's another number that you'll be watching and by the way all of these companies are about to make some big announcements based on the developer's conference. google is coming right up and apple in june and that really sets the stage for the biggest stuff they are going to do for the rest of the year and into the next year. liz: tim cook prays every day that i lose my air pods. >> [laughter] liz: i fumble them and drop them who knows are we on our fourth pair here? kevin, give me a quick thought on apple. >> yeah, the quick thought is they are actually trading at a high end of the valuation, 17.6 types and everybody knows it. liz: wow remember when it was 10 >> yeah, it's within trading below and now here it is on par with the market and if you think about it they are in a commoditized business in the corporate refresh or excuse me the smartphone refresh cycle has been delayed nobody wants to buy a new phone until they get the 5g modems and the handsets next
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year so it's going to be tough for apple to beat and raise on the upside. liz: annual high for apple was 233 and we are at 205 right now but the low was 142 unbelievable all right, gentlemen thank you, thank you very much, lance and kevin kelly talking about google which is out momentarily. in the meantime, let us take it to pittsburgh and we are letting people know that former vice president joe biden is about to go to the podium and remember this is a union area, where they are endorsing joe biden and hillary vaughn is standing outside of this event and hillary as we wait for joe biden , and it's coming, what do you have to say about the tone of the crowd here? reporter: hey, liz well i talked to a lot of voters that were lined up ready to see joe biden and they told me they have their eyes set on the general election which is interesting to hear democrats so early in the process speak so confidently in support of a candidate that just
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got into the race but they think that biden is their guy to help turn pennsylvania, a massive battleground state in the general election, back to democrats control in 2020 and biden is here here to speak and he's also just got a freshen doorsment from the international association of firefighters their president will be appearing with biden in just moments biden is inside this is the pre-program part so he should take the podium once the pre-program wraps up and part of this endorsement did catch the attention of the president who tweeted that he will never receive the endorsement of the firefighters union because of this. the dues sucking firefighters leadership will always support democrats even though the membership wants me some things never change. well biden hit back at the president's tweet saying "i'm sick of this president bad mouth ing unions." labor built the minimum class in this country, they exist for all of us because unions thought for
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these rights and we need a president who honors them and their work and the union vote here is huge in pennsylvania. the teamsters alone has 1.4 million members, liz, so this is a key audience for biden and the teamsters are not throwing their support behind him but the firefighters union did enforce him this morning and will be here today, liz? liz: yeah and as we've watched this very closely, we have a poll that a poll? oh, there's new polling out, it's an abc washington post poll and the question is if the vote were held today, who would you vote for in the 2020 democratic primary and here are the numbers 13% for joe biden, closest competitors is bernie sanders at 9%, pete buttigieg 5%, elizabeth warren 4%, beto o'rourke 3%. those are the top five here, and as we await joe biden to kickoff
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his 2020 campaign, with this pittsburgh rally it is important to note that we watch this very closely, and by the way back in 2016 we did the same for then- candidate president trump. we did, here at fox business, take his announcement back in 2016 as he went down that escalator at trump towers. we took it live, so being the front runner here, that is the reason we are doing that. how crucial is pennsylvania we know that is extraordinarily important as far as a key state a battleground state along with ohio and wisconsin and michigan, but pennsylvania is a state that went for donald trump this time around and went for the republicans and that was a shock to the democrats, obviously, because they felt they had always secured the union and blue collar vote that was very much representative of the pennsylvania people, but now you
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see that you do have at least a couple unions dipping their toe in the water hillary and i look at that and think we may have a horse race here. reporter: liz that's exactly right and what's interesting is the entirety of the last week and the video announcement biden has really stayed focus not on other candidates in the field not trying to clear out his competition he's going straight to the general election and his arrival to this state is significant because it really underscores that. this is a state that democrats lost in 2016 but also a state that joe biden was born in. he was born about four hours from here in scranton, pennsylvania, and he's really sending a message that he can deliver pennsylvania for democrats in 2020 and also makes the point that he has his eye on november 2020. he's not interested in getting into the weeds with his democrat competition that has entered the field and are in the race as well, and it was really interesting that your voters also echoed that sentiment here,
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they really want a candidate that can win and they actually said they like that biden is more moderate and more centric than the other candidates they said people i've talked to outside waiting in line here told me that they do like the other people running, but they just think that biden at this point is the best shot at un seating trump in 2020 and that's their goal and they think he's their guy to deliver that. liz: yes, they do believe that i think in this case and again, there are big differences as you point out, between primaries and presidential elections depending on the state, but also important to note that on his first day of announcing last week, via video, he did raise $6.3 million and he unveiled as we understand it, the longest list of endorsements when it comes to that. here, obviously at fox business we look at the markets and we look at smart performance, when joe biden was the vice president during that time, you had an impressive performance between
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2009 when president obama took overall the way through 2016 so as we looked at everything that has been able to come to pass i think it's important to note that stock market performance has been gangbusters with both president trump, now, and a huge triple digit percentage jump during the entire term of obama/ biden presidency. the s&p 500 and the nasdac as we just take a breather for a moment as we await joe biden are hitting all-time records. s&p now stands at 2,944 and we've got the dow jones industrial is not at a record but still comfortably up to 26580, folks the nasdac up 16 points to yes another all-time record of 8,162 we do remind you that google earnings as we mentioned coming out right after the bell, that certainly is something we know we want you to watch and we are also looking at
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the moment at a stock market that has suddenly found its footing. every single point loss from october through december has now been erased, so we do have the bulls strongly running at the moment and when you look at that you see exactly what we mean. we can look let's see, since the election, look at this gain under president trump, with the dow up 45% let's call it, the nasdac up 57%, the s&p up 37%. folks all you had to do was buy an index fund which is something warren buffett always recommends instead of paying people to do your investing and you would have if you just bought the qqq 's from the nasdac you're up 57%. question is how long does it run now, we've been waiting to see exactly what kind of economic data trickles in each and every
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day. i should tell you we've got some pretty strong consumer spending numbers, for the month of march this morning, biggest increase folks in nine and a half years. it was a gain of .9 of a percent and the pricing power though for the core pce, that's personal consumption expenditure that's what the fed likes to look at that was rather muted. i want to bring in phil flynn as we await this speech and phil the fed meets tomorrow for a two -day meeting what do we look for at this point? >> i think there's a lot of concern in the marketplace that the fed will have to change course yet again, liz. let's face it the economic data is a lot more solid than it was in the beginning of the year when we had all that extreme volatility and now there's a lot of appreciate pressure on the fed to say we can't just stand on the side and really wait for things to level off. we went from of course the fed wanting to raise interest rates, wind-down to wait a second
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everything is on pause let's wait to see how things play out. well they're playing out beautifully it doesn't get any better than that. this week of course we ended the week with the big jobs report and that turns out to be strong the fed is going to have a hard time restraining themselves from raising rates. liz: that's the question friday comes the jobs report gain of 18 5,000 jobs is what we are indeed expecting, so you've got to look at, i don't know what the case is to even cut rates or even leave rates except that inflation is still very much in check, and folks i don't want your eyes to glaze over but if you look at this metric of the p ce, that's the inflation met rib that the fed looks at. it's called the personal consumption expenditure index, it's only at 1.6%. they say its got to be at 2% just to be neutral. not even there, .4% of a way.
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jackie deangeles, jackie welcome to "countdown" we love having you here we'll keep our camera on on the joe biden event sorry if i interrupt you but we're looking at two records just minutes away. jackie? >> yes, liz? liz: we're going at two records, s&p and nasdac, and we're about eight minutes away from seeing new history book pages written here. >> and you can see that the market made a reversal from being flat this morning to really showing a pretty strong session now in positive territory. you're looking at the dow trading at 26, 562 and it's earning season right now and earnings have been going fairly well but this is an interesting week because after that gdp number growth of 3.2% you wonder if investors are going to change how they look at companies are reporting. google of course the alphabet parent company of google is reporting after the bell and it hit an all-time intraday high
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today as the expectations for those numbers are quite strong, so right now, investors are standing back and looking at this market saying things seem really positive. companies are coming out with good numbers, growth is strong. conversation with china the trade negotiations are underway and this is all positive when it comes to the momentum that we're looking for. liz: yeah, and interestingly as we're looking at intraday pictures of the dow at least and i didn't quite catch the s&p, but we're starting to lose some steam with just seven minutes to go before the closing bell rings , but still again, any gain for the nasdac and for the s&p brings us to brand new heights. dow is up about 14 points, jackie thank you very much and i'm just going to quickly take a look at the gainers for the dow jones industrial as far as these leaders are concerned and you've got a couple makes that look very healthy at the moment, particularly walgreens boots alliance which struggled i don't know if you own that stock but
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we should be looking at some of these laggards and leaders as for the laggards it's a tough time for the pharmas. we've got pfizer losing about three-quarters of a percent and of course merck, let me just quickly check merck for the moment and intel by the way, intel now at $51 it has been a very rough road for the world's largest semiconductor maker, this was a $59 stock but right now, week-to-date it is down nearly 13%. s&p leaders ingersol riand, mattel, juniper networks and twitter, twitter continuing to see real trails from its great earnings report last week, and we can see that some of the laggards here include warehouser which of course is an infrastructure place, franklin resources, and dow jones industrials up 8.5 points right now, we are going to come right back in just a moment don't go
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away. dow, nasdac, s&p, we've got our eye on them for you, stay tuned. . .
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liz: as we await joe biden to deliver his first campaign speech of his 2020 presidential election we're kicking off the busiest week for earnings. we remind you 150 s&p companies will be reporting. just because a company reports growth, doesn't mean investors have to like it. even with 6.4% jump at same-store sales at burger king, popeye's, horton's, restaurant brands international they opened three tim horton's in china, folks, if the chinese like their famed honey dip doughnuts as much as rest of us do. need to look at tesla. look at the stock. in the final two minutes of
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trade up 2 1/2% for tesla. nice move here after the company announced headlines hit the tape this morning that the electric vehicle giant is considering alternative financing sources, yes to reflate its cash pile. it will need to go to the markets to get more money. tesla expects to produce its all electric crossover model y at high volumes by the end of 2020. after the noon hour we had the stock pull back on a tweet from charlie who reported the automaker will face higher financing costs amid growing questions over morgan stanley and goldman banking relationships with tesla. we have fifteen seconds before the closing bell rings. looks like a record for the s&p and nasdaq. dow jones industrials sees a gain of 17 points. stay tuned as i mentioned we'll definitely see google number,
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google alphabet, i'm old school on "after the bell." thank you so much. appears vice president joe biden is just a bit late for his speech. [closing bell rings] meantime you witness another all-time record for s&p and nasdaq. connell: we have new numbers just moments away that could send stocks even higher from here. we'll see. google's parent company alphabet expected to release earnings. those are coming any minute. we'll tell you about that report as soon as we get numbers, with the dow settling in nine or 10 points higher at the close. give or take, 1% shy of record territory. the nasdaq closes once again at a new all-time high. looks like the subpoena 500 will by three points. good to be with you on a monday. happy monday. melissa: it is monday. google our big story, tells you so much what is going on in the economy. i'm melissa francis this is "after the b

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