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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  July 2, 2019 3:00pm-4:00pm EDT

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liz claman, market's not doing a lot but tell you what, america's youth are doing a lot. liz: where's mine? charles: you're not getting any of this. i can tell you that right now. liz: i got my wallet. charles: she brought her wallet. liz: i'm proud of you, young man. the other young man, not charles. good for you. that is just a great story. thank you so much for bringing that to us. i will take one in neon yellow. breaking news. another grand old flag controversy hitting the worlds of business and sports in a cosmic crash at this hour. nike's stock, we are checking on it, it is down as it pulls the betsy ross inspired flag sneakers from store shelves, supposedly at the behest of controversial quarterback colin kaepernick. but really? was this all just a plan? the "wall street journal" reports that kaepernick apparently told the sneaker giant the use of the colonial flag was quote, deeply offensive because of its connection to an era of slavery, but wait until you see, breaking news, how much
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the air max one sneaker is now selling for on one specific secondary market that if you've got a teen son or daughter, nyo know what this is. it's moving as we speak. meanwhile, boeing moving as well, still dealing with its own controversies at this hour as delays and backlogs of its 737 max jet could soon be cutting into profits. american air carriers still feeling the effects of the grounding of that plane. in fact, they are making changes right now. "wall street journal" aviation reporter has broken multiple stories on this. he's here in a fox business exclusive to give you boeing's latest flight plans. facebook facing its own challenges, with fake cancer cure ads and the scary situation at its headquarters during this hour yesterday. but its cryptocurrency libra is full steam ahead. we have one of the key links in the facebook libra blockchain. the co-founder and president of
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a company called anchorage. who and what are they and why is everybody talking about them as one of the strongest links in this new crypto world? it's a fox business exclusive. on wall street, the s&p 500, hey, any gain today would be an all-time second straight record high. we've got a gain now of just under a point. we are watching it right now. the dow trading in a tight narrow range here, just 115 points, but we are down only 11 at the moment. the nasdaq, down eight but oil and energy are crumbling. what's that about? we will tell you. less than an hour to the closing bell. let's start the "countdown." liz: breaking news. did europe just take a big step towards saving the european union? leaders and eu member nations have just nominated that woman, international monetary fund chief christine lagarde, to lead the european central bank.
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she's a highly respected former chairwoman of top american law firm baker mckenzie, who later served as french finance minister and she will succeed the current ecb president mario draghi whose term ends this october. lagarde will take a break from her imf duties during the formal nomination process. the 63-year-old lagarde widely credited with using a tough hand but an iron glove to finesse the rescue and recovery of greece during its financial crisis. the belief is she will bring european nations together, even ones that are trying to leave the eu or thinking about it, and save the european union. we'll see if she does it. to the markets. investors are kind of acting like they've got one foot out the door and to the beach for the fourth of july. we have the markets moving at the moment. stocks, though, are stuck in a sort of very tight dare i say jittery range but there's a signal screaming something and you guys get to decide. i personally look at this and think it might not be so positive, but it is the ten-year
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treasury yield. see that number? right now it is yielding 1.97%. yesterday it was at 2.01%. that is a more than two-year low. it means that people are flooding into the safe haven asset. the price of the bond rises, the yields are dropping at the moment. this is a fear trade that is playing out at the moment. part of this may be crude oil, not sure, but crude oil bears are drawing some big blood in the after-market session. check it right now. just about 20 minutes ago, we were down three points, 3%, rather. we are now down 4.5%. we've got this crude awakening for oil as waning global demand fears win over production cuts that the opec plus russia just agreed to. they agreed to extend the supply cuts until march of 2020. that's done. opec plus includes of course russia and then reports on weak manufacturing here in the u.s. but also, global activity killed the afterglow, leading to
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today's declines. we remind you, we are in the after-market session right now for crude itself but energy stocks are trading and boy, are they trading. they are taking a walk down the plank. we have apache, eog both down 5.5% plus. we have eog, pioneer natural resources and devin energy along with contraresources. tough day if you own energy names. if you don't, you were looking to buy them, they are at a discount, right? there's always another side to this. from barrels to kegs. the biggest ipo of the year is on tap. that's anheuser busch's inbev asian arm. it's going to list on the hong kong stock exchange this month. budweiser brew iing is looking raise nearly $10 billion. it could be the biggest ever listing of a food or drink anheuser busch is up 2.5%.
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we know chinese loive it. they like beer. you just saw for a second a flash of the nike stock. nike is feeling the first financial effects of its decision to cancel the sale of its betsy ross flag sneaker. remember how it begins doesn't necessarily mean how it will end. the "wall street journal" was the first to report that the american revolution themed sneaker called the nike air max one usa which has that flag on the back by the heel, it will not be sold as planned ahead of the july 4th holiday. nfl quarterback colin kaepernick best known for his controversial kneeling during the national anthem, reportedly told the company that some people find the early american flag right there on the back quote, offensive, but nothing like a fresh dose of controversy to juice demand. check it right now. we've got this website called it is on your screen right now. it is basically an online secondary marketplace that's
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selling the shoe that nike pulled, don't know how they got it but they get it, 13 white stars on it, the highest bid for the sneaker right now is $3,000. the highest bid right now, i've got it on my screen, wait a minute, which is it? the lowest ask is $3,000. last sale, $2500. this is a size 13. i believe they did sell another pair minutes ago for $3,000. that was in just the last hour. it's unbelievable what's happening here. nike, if you don't think they knew this was going to happen, trust us, they did. 2:05 p.m. eastern is when they just sold one pair. again, more than $2500. they are going like hotcakes. condition, brand new, as you see. this website, who knows, one day they may very well go public. we have been taking a look at nike's stock since the company's controversial decision way back couple of months ago to feature colin kaepernick in one of its just do it ads. that was september 4th of last year.
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the stock is up 6.5%. kristina partsinevelos is live outside our studios in new york city, not far from the nike store. you know controversy is not so bad sometimes. reporter: no, definitely. bad publicity could be good publicity. i reached out to nike twice to find out specifically who influenced their decision to pull the shoe. they have not responded. you have colin kaepernick who finds it offensive. you have a lot of people online that are connecting the shoe to not only slavery but white nationalism as well. however, you have a local politician who is angry at nike for pulling the shoe. this politician is doug doosy, governor of arizona, who says he will revoke financial incentives for nike to open a plant in phoenix worth about $185 million, bringing 500 jobs to the area. he took to twitter to say, i quote, that instead of celebrating american history the week of our nation's independence, nike has
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apparently decided that betsy ross is unworthy and has bowed to the current onslaught of political correctness and historical revisionism. liz: guess what? it may have been that, we don't know, but nike has just come out with a statement. i'm going to read it. stay right there. reporter: look at that. liz: ready? it has decided to halt the betsy ross flag shoe based on concerns that it could unintentionally offend and cause detriment to the patriotic holiday. sorry. you got to stick with me. detract from the patriotic holiday. nike is saying quote, it is proud of its american heritage, it supports u.s. olympic teams. nike says it remains committed, here it is, kristina, it remains committed to creating jobs in the u.s. and opening new facilities -- facility, singular, to create 500 new jobs. that must be it, the arizona facility. reporter: yes, because originally, that's what's going to happen. they were going to open a plant worth $185 million and they were
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going to get all kinds of financial incentives and reimbursements for their jobs. but to bring it full circle, they didn't address the colin kaepernick part which is what i was hoping i would get a response for, because we know colin kaepernick played in the nfl in 2016, took the kneel during the anthem to raise awareness for racial injustices. overall, he hasn't been signed but like you mentioned, nike did feature him in an advertisement, much to a lot of opposition. sales, though, have been doing quite well. if we are going to go full circle, take a look at the nike stock right now. it is down for the day. that could also have a lot to do with the earnings that came out at the end of june. did disappoint a little on the earnings side because they have also been investing very heavily in online sales, but look at that shoe. i checked that maybe about an hour ago before i was going to come on set. it's amazing how it's just skyrocketed in price and it's also amazing how these guys got their hands on the shoe even though nike has called all of
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them and told all retailers not to sell them. we'll see how much it sells for. liz: i'm watching it right here. you know, i don't know what nike means, they say they pulled it but stock-x, this website here, has some. somebody got a pair or two or three, because they are selling now for $2500 on this website. reporter: the reason is because the stores -- the shoes actually did hit some of the retailers because they were supposed to go out for this week. so that could be somebody within the stores that got it. liz: look at this. okay. stock-x shows what it was doing just june 30th here. they were selling for $400, july 1st, $393. it actually went down. then you go to yesterday, well, yeah, later yesterday, suddenly 514, boom, the controversy starts. it goes from $500 to $1,250. climbs again. now it's at $2,473 for one of these pairs.
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wow. interesting. these sites are very hot and very hyper at the moment on all of this. thank you very much. well, as nike collectors overwhelm the web sites for secondary sneakers, we are looking at what could be an overwhelming situation for netflix, with "stranger things" coming out and debuting its season three, you can only imagine what a big deal that is going to be. that's july 4th. in "stranger things" they've got the upside down world. here is the trailer for that. it is already kind of broken the internet. we have to tell you that netflix stock is up 40% year to date. what about this upside down world? when you talk about what some people are saying out there, you've got mark hulbert of market watch who in a sort of upside down world says we are going to see an earnings recession but that's not a bad thing. he says it's not bad because the stock market historically tends
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to do better when earnings are declining versus advancing, and that means stocks get cheap, people who are bargain hunters swoop in and pick up some bargains. all right. to our stranger things on the trading floors around the nation. we love our stranger things. to you, phil. do you expect an earnings recession? i know you are usually very optimistic but you are also very much a realist and technical guy. what do you see and how do you profit from that? >> in a bizarre world i guess i should be rooting for bad earnings so my stocks will go up, right? that's what they're telling us. you know what, listen. what stocks you buy in a recession? you normally buy defensive stocks. if it's a real recession you buy walmart, cvs, walgreens, all the defensive stocks. in an earnings recession you buy the best of everything because if you are in an environment with low interest rates, you look at a stock like netflix, right. netflix is going to perform great because if they get bad
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earnings, everybody's looking ahead and forgiving them because they have such great shows like, you know, this show "stranger things." it's going to be huge for the ratings and good for the stock. this is the time. if we do get bad earnings, latch on to the stocks you thought you couldn't afford because every dip will be a good buy. liz: that's right. every dip, you want to buy low, right, john? >> absolutely. markets are forward looking. i agree with you. what you read is 100% true. market is always looking at tomorrow's earnings, not necessarily today's earnings which might not be up to par. look at uber. $75 billion company and they certainly didn't get there with earnings. they actually lost $1 billion. it's really about they are doing something better, faster, cheaper which is what america is all about. this is where we reward them on the floor of the new york stock exchange. liz: that's where you get to really see what's going on. uber is down about half a percent at $44.55. very close now to its high since
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it went public of $47 per share. chris robinson, do you see an earnings recession and do you agree with mark hulbert that this is not something to fear? >> at the end of the day, i just watch the markets. the markets are telling you we're at record highs. if you are worried about that, there is always a bull and a bear story. there is always somebody with an opinion. if you are worried that we are about to tip over, break 1,000, 2,000 points, now's the time to do something to protect yourself. i really like the ten-year. if the fed continues to cut, you know, the ten-year is probably the place to be. if you want to have safety. liz: yeah. i think so. i want safety in the upside down world. john, phil, chris, thank you so much. >> might not be safe. i'm not sure. liz: trust me, upside down and that world is not safe. that's what dustin told me. we'll be right back. don't go away. dow jones barely down, just six points. stay with us. we have a record right now for
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liz: we have this right now. israel says it is preparing for war, not with it and another country, but between the united states and iran. foreign minister of israel says
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its defense forces are now on heightened alert as rhetoric between the u.s. and iran ramps up. while speaking at an international security forum, katz said quote, we must be prepared for this and thus, the state of israel continues to devote itself to building up its military might for the event that it will have to respond to escalation scenarios. but it's not actually just rhetoric heating up. american f-22 raptors which departed june 27th have now reportedly reached the region and are in place. the jets supposedly about 12 of them, although that hasn't been confirmed, were deployed after an unmanned u.s. drone was shot down by the iraqi military. that act of aggression occurred as the trump administration continues to sanction any country that purchases iranian oil, but the buying and purchasing is still happening. "new york times" report out today says china has found a work-around. new article with the headline "to evade sanctions on iran,
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ships vanish in plain sight." it goes into detail how empty chinese-owned tanker ships sort of conveniently have disappeared off the grid as they approach the persian gulf only to reappear days later heading back to china fully supplied with you can imagine, what. to the white house, where we find edward lawrence. president trump is threatening sanctions against countries that buy iranian oil but the chinese appear to have found this back door. what is the administration's plan here? reporter: yeah, and i'm sure that the administration knows exactly where these tankers are going from space, looking at this. now, the white house is trying to increase pressure all around and they are going to try and get countries to follow along with the stananctions on this. the chinese are actually coming out todayen ablaming the u.s. for increasing pressure and calling on other nations to use restraint when talking about the nuclear deal. the white house says the sanctions are working and this latest action is out of desperation. an international nuclear agency
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says that iran has violated the agreement they had with other countries in that iran deal with the amount of enriched uranium they have. government officials in iran are saying that yes, they will in fact go after or pass more of the terms and break more of that agreement unless those european countries can give them financial incentives or help iran do financial transactions in order to get money into this country. the latest act of defiance from the white house, according to them, that this means the sanctions are working. >> hopefully so. listen, that deal was a joke. the president knew it was bad. that's why he got out of it. it was based on a lie. the whole premise was that they weren't far long as they actually were, the iranians in their nuclear capabilities and uranium enrichment. we now know that to be the case that they lied to the world. reporter: u.s. officials saying they are having these other acts of aggression where they attacked oil tankers in the middle east, shot down the unmanned drone and now passing
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or denying this deal or just ignoring the deal. on the f-22 raptors, quickly, photographers in the area have said they have seen those f-22 raptors. no official word that they are there, though. back to you. liz: okay, thank you very much. we just saw the dow turn positive for a second there. we are watching it closely but a tiny bit of green on the screen. delta's stock takes flight. with the closing bell ringing in 37 minutes, the nation's third largest carrier raising its outlook and its latest quarter on stronger demand for summer travel. delta, upping both its profits and revenue forecasts. shares have already climbed about 18% this year. today, a nice move for delta, up 1.5%. the news, not as good for boeing. as analysts say it now could take even longer for its controversial 737 max jets to return to service following those two deadly crashes. wall street journal aviation reporter andrew tengle has been
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breaking so many of the boeing stories. this is a widely held stock, a lot of people fly in these planes. there is interest all around on what he is about to tell us exclusively when "countdown" comes back. how do you gauge the greatness of an suv?
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liz: since its annual high, boeing's stock is now about $90 lower in price. well, it continues today. american airlines is escalating its response for the very first time, american has canceled an entire route. what is that route? oakland to dallas-ft. worth. they are canceling it from july 6th to september 4th because of aircraft shortages related to the 737 max grounding. now this. southwest says the new software issue that was found just last week on boeing's 737 max is quote, well beyond what the company had hoped. just last week, southwest had
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extended the 737 suspension to october 1st. different plane here now. 787 dreamliner, not safe from boeing pains like growing pains. boeing is having major growing pains. federal prosecutors reportedly issuing subpoenas related to the production of the 787 dreamliner which is a widebody aircraft built in south carolina. the 737, a single aisle jet made in washington state. but there are areas in south carolina that do some of the work. vertical research partners cutting its 2021 price target for boeing now from $417, not by that much, to $413, but the stock right now is at $353. they say they expect the 737 grounding to last nine months. add to this the 14-year-long trade battle between europe and the united states over subsidies that europe gives to its european counterpart, airbus. the boeing counterpart. the longest dispute in the
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history of the world trade organization. to the "wall street journal" aviation reporter, who broke the story on the dreamliner subpoenas and has been all over all things boeing. where do we begin? >> well, it's not clear what the connection is between the dreamliner inquiry and its relation to the 737 max issue. our counterparts in the "seattle times" wrote about this and broke the news of the subpoena to the dreamliner. it's apparently related to production. now, there's no obvious tie, but we reported on the fact the faa had separately begun an administrative inquiry into how boeing oversees its own employees that perform regulatory functions on behalf of the faa, so there's some
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relation there. there's still a lot unknown at this point regarding the dreamliner itself. with the max, of course, we are waiting to see what if anything comes out of the criminal probe under way, but boeing right now is really focused on getting the max back in the air and last week's revelation that there was another unrelated software problem that the faa found is another setback for boeing. liz: well, let me just show the other side of it, obviously. we look at the backlog. folks, for those of you who don't know, when you are talking about aerospace companies like boeing, the backlog means what are the orders, are they piling up, are they coming in. boeing has a significant and this could arguably be positive, a backlog i believe for the max, right? >> well, they've got a pile of orders, thousands of orders, not just for the max but primarily
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737 max, for the next six or seven years. and boeing and airbus are really the only two places in the world right now where airliners -- excuse me, airlines can go to get their jets. so there's a big backlog and they've had to slow down production because they can't deliver the jets right now. they are piling up in and around their factories in the seattle area while they wait for the faa to give them the okay to fly them to their customers, and they need to also wait for regulators around the world to let the planes fly to the customers and also fly passengers around. there's just a lot of uncertainty now. the backlog hasn't really grown that much since the ethiopian crash in march because there haven't been many new orders except a few weeks ago in paris, boeing got a huge order for the max for 200 jets and a big vote of confidence from british
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airways operator. liz: i would think that was a huge thumbs up, which makes me wonder if the stock is $90 off its 52-week high, it is still yielding about 2.2% on the stock. you know, it's been down 16% since the ethiopian airlines crash and that was march. i'm wondering if you look at this and say well, all companies that are good and solid go through very bad times, right? >> right. boeing and the investors i'm sure are really waiting for this cloud of the max to be lifted. they want the plane to fly again. the airline customers, especially, want the plane to fly again. once the plane is flying again, that means the airlines are making money off the plane. that means that boeing presumably would be reducing how much it owes the airlines for not being able to fly the plane that they sold them.
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so it gets the ball moving in a lot of ways for both the airlines and boeing. liz: well, boeing right now, just slightly lower at the moment. andrew, thank you very much. we will see you next time. andrew tengel of "wall street journal." when we come back, perhaps one of the most important and most interesting links in facebook's libra cryptocurrency effort. anchorage, that company coming up.
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liz: oh, boy. when it rains, it pours on facebook. some disturbing news out of the "wall street journal." facebook along with google and youtube apparently crawling with bogus and potentially harmful information about alternative cancer treatments and sometimes these sites and videos get
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millions of views from people desperate for any kind of help in this matter. facebook and google say they are working to scrub accounts of the false information to reduce the spread of posts that promise miracle cures. this news just comes 24 hours after a package that initially tested positive for toxic sarin was sent to facebook's mail facility in menlo park, california. remember yesterday we told you it was triggering an evacuation and 14 hours of response from hazardous material teams. the social media giant now breathing a major sigh of relief at this hour after it has been concluded the package did not contain any dangerous substances. facebook, little bit of a relief rally here, up 1% at the moment. now facebook can go back to focusing on sort of its hottest new release and that is libra. this is facebook's new cryptocurrency project that is generating an immense amount of hype with lots of big name early
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backers. our next guest is one of those backers. he's the co-founder and president of anchorage, hailed as one of the most advanced digital asset custodians for institutional investors, here in a fox business exclusive. thank you so much. i have to tell you, you've got to explain to us exactly what you do and how you weave in to libra, because apparently there are 100 different companies involved, correct? >> there are 28 founding members of the libra association. the goal is to have 100 organizations that are going to be involved eventually. for now there's 28 that are part of the founding members such as anchorage. we are one of the founding members of libra. liz: tell us exactly what anchorage does. we kept hearing and seeing your name, your company, out of these dozens and dozens that are involved. we thought what's so great, why are you such a strong link here? >> anchorage is a very special
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company. what anchorage does is we are custodian for digital assets. so think of all of these investors that are desperate to invest in all of these new crypto assets, cryptocurrencies. they need a company that safekeeps the assets and allows them to actively use them on the exchange and obviously have returns on their investment. so that's what anchorage does. liz: what made you want to become an early backer of facebook's cryptocurrency project? obviously when you have a big brand behind sort of a brand new type of thing, of course, bitcoin has been around for several years, but to have the brand like facebook behind it and then all of you guys sort of pumping it up, that gave people confidence, didn't it? >> that's right. anchorage has been involved in libra project, even before it was called libra. we have been involved since the beginning and we have helped the libra association think through all the technical components. we have really been one of the
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advisers and we have helped with cryptography, with distributive systems, with the security angles of what it takes to really build the blockchain that is going to be the backing of this new libra global cryptocurrency. liz: diogo, let me play devil's advocate because it's our job sometimes to push people on these things. what of those people who say that bitcoin and crypto are snake oil? you know, you obviously have to buy bitcoin with your currency, u.s. dollars, brazilian reals, whatever it may be. i want to buy bitcoin. i cough up whatever it's worth, about $10,000 per bitcoin. where does my $10,000 green dollars go? that's the concern. people don't quite understand and can't wrap their minds around this. >> so think of these crypto assets as any other assets class. you buy them with u.s. dollars but then you keep the asset in the asset can gain in value and appreciate or obviously, lose value and depreciate.
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anchorage, what we do is not just bitcoin but also new projects and new cryptocurrencies like libra. what we do is we are the custodian. we make sure that these assets are safe for investors to actually make the investments on these assets. liz: okay, but i have to again, finish this up and simply say how? how do you make it safe? >> so the way that we make it safe is we use very intense technologies to actually make sure that the underlying components that actually own these digital currencies are completely disconnect frommed fe internet and safe and accessible only to clients who hold them. liz: disconnect from the internet on a lot of levels. thank you for talking to us about anchorage. >> thank you for having us. liz: thank you. dishing out the demands. with the closing bell ringing in about 17 minutes, look at the dow. it's comfortably higher by about 22 points. charlie gasparino sprinting to our desk as i speak with new
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details on just how much antitrust regulators are asking t-mobile and sprint to give up to seal the deal on the $26 billion megamerger. charlie breaks it. and i'm breaking this. my podcast everyone talks to liz is extremely exciting, okay, and popular. you can get it on all platforms. if you are taking a long ride for the holiday weekend, download it and listen. apple, google podcast, fox news my in-laws just listened to the first one called i forgot to die and loved it. so there. "countdown" will be right back. not again. limu that's your reflection. only pay for what you need. ♪ liberty, liberty, liberty, liberty ♪ play it cool and escape heartburn fast
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liz: you didn't have to travel far for this one. we've got it for you. breaking news. this is a live picture of a total solar eclipse that is
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happening right now so you can look at it here. remember, you're not supposed to stare at the sun when it's right in front of you but right now, it is stretching across south america. the path of totality where the moon blocks the sun, can i look, too? i want to look for a second. oh, that's very cool. that is very cool. you cannot see this in the u.s. but the camera is right here in argentina and there you are. we've got it for you. it spans over parts of both argentina and chile and the pacific ocean also. this according to nasa. outside the path of totality, a partial eclipse will be visible but again, not here in the united states. so there it is. a big moment. >> oh, nice. liz: don't look at the sun. you'll burn your retinas. all right. as deal watchers wait for the department of justice to make a decision whether to approve sprint and t-mobile's proposed $26 billion merger, some are
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beginning to question whether it's even possible for the department of justice and the parties to reach any kind of compromise that will make everyone happy. charlie gasparino on exclusive details about what's holding up negotiations now. >> i'm going to tell you, don't follow every single report and make it like this is the deal, it's done. liz: i thought you were going to say don't fall asleep. >> that, too. this is a big deal. there's a lot riding on this, 5g, you know, fighting with china, wireless, everybody's phone bill is essentially wireless these days. so there's a lot riding on this. i would say don't follow everything you see, particularly on cnbc which is kind of late to the game. there are broad outlines of this deal. those broad outlines include divestiture of spectrum, sprint and t-mobile allowed to merge, that gets sold to charlie ergen's dish, okay. those broad outlines have been in place and debated essentially for i would say the last two
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weeks. but they have been held up. why are they held up. as the two parties negotiate, final details, there are two concerns that have arisen. number one, doj. doj and to a large extent the fcc are worried that charlie ergen doesn't fulfill his promise to use the spectrum by building out a wireless network or doing some sort of a wireless network in conjunction with t-mobile, maybe using their infrastructure and capacity, where with his spectrum to build a fourth network. that is one thing that the doj is worried about. why are they worried about it? because charlie ergen has been sitting on spectrum for a long, long time. he hasn't built it out yet. this is a guy that they believe reneged on the deal or is nearly reneging on his deal to build out a wireless network, by buying that spectrum which the justice department -- excuse me, the fcc can buy back.
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he can give it back to them. that's a big thing. that deal runs out in 2020. so they are trying to nail him to get him to agree to do something with the spectrum, particularly if he gets some from t-mobile/sprint which is being negotiated. on the other side of the coin, it's very interesting, it's t-mobile officials are really worried and this is what kind of dragged it on, that if ergen does buy all this spectrum, does he not use it or does he use it, get fattened up -- liz: doesn't the government make him use it? >> use it, get fattened up as a network or at least the sort of bare bones of a network, and then sell it to comcast or charter, which they believe would be a much more formidable competitor in that wireless arena. so if those are the two sticking points, now here's what i would also say. i think based on everything i'm hearing, that there's progress in this deal. i think t-mobile feels it can get past that. i think the government feels it can get past it as well.
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but those are two legitimate sticking points that have held this thing up for the longest time. by the way, dish and t-mobile have had this broad outlines of a deal. i know cnbc's report today. this has been out there. they've had this. it's been tinkering and the details of it need to be done and it's not signed, i heard, by the way. it's still being negotiated. so i'm telling you, it looks like we're at the finish line but those are significant sticking points. i think it's going to happen. i'm getting indications it's going to happen mainly because t-mobile really wants to make it happen. so whether charlie some day sells to charter may not be, you know, an insurmountable mountain for them to climb. so that's where we are right now. when is this thing going to happen? it could be days. it could be friday. i don't think so. i think it's going to be next week. so that's where we are. i would just say, those are sticking points so be careful if you are buying the stock and
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playing with this. but it looks like it's coming down, it's looming. i reported this how many times, though? liz: about 50,000. >> people are worried about it. i don't know. liz: we'll be right back.
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♪ liz: so we just showed you the eclipse making history. now look at the s&p 500. about to make history with about three minutes left before the closing bell rings. that will be another record, second straight all time closing record. any gain whatsoever. we're up about 5 and a third points right now. let us get to june auto sales numbers, one of the big winners, fiat chrysler. the company reported sales up 1.9% from last year, yes, very nice. but listen to this, ram pickup trucks spiked 56% in sales
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year-over-year. that beat for the first time the chevy silverado, coming in second place there. ford f-150s are first. not bad for the ram there, helping to lead the way for the automaker. but today's "countdown" closer says fiat chrysler is not the name specifically in the auto world he feels to own right now. let's get to hennessey fund portfolio manager, ira rothberg. which ones do you like, ira? >> we're big fans of o'reilly automotive and carmax. carmax is the largest retailer in the night, 4% market share, 200 stores spread across the country. they revolutionized the used car space 25 years ago when they introduced their no haggle pricing model. they are revolutionizing the industry the industry with the omni channel proposition. in dice of 2018 they introduced in atlanta the ability to buy a
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car officially any way you would like, including from the comfort of your living room sofa. so you can select the vehicle, finance the vehicle, arrange for the trade-in. have the car delivered to your house. we think they're seeing initial results out of atlanta. by february of 2020, we'll have this model in half their markets liz: i'm looking, off the annual high 114 bucks, you wouldn't buy at the high of 382. carmax a little richer. it is 87. the annual high for carmax is 88. what do you look for when deciding to say, o'reilly automotive is what i like? what characteristicses in a company? >> we're look fog are a business with a strong economic moat, sustainable competitive advantages to allow strong return on capital and large growth prospects well-managed. o'reilly has all the characteristics. liz: ira, great to have you.
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thank you so much coming to us from the hennessey funds. [. [closing bell rings] as the market closes they're settling up. dow gaining 55, nasdaq 15, witnessing another record close for the s&p. melissa: aiming for new highs. a choppy session on wall street as major averages drift in and out of record territory. the dow closing up 69 points marking the third day of a winning streak. i'm melissa francis. connell: i'm connell mcshane and this is "after the bell." the s&p 500 at a record high here second day in a row, up nine point on the day. as for the nasdaq, five straight up days for the nasdaq composite up 17. we'll call it 18 point today. oil, the big story. look at a drop for oil. 4 1/2% on the day to the downside. melissa: i knew they couldn't hold up to the upward move. not going to happen. connell:


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