tv The Claman Countdown FOX Business July 15, 2019 3:00pm-4:01pm EDT
world, everyone else is doing the same. for the most part, the stock market is unchanged. liz, i have a feeling it will be another explosive hour. liz: that's a perfect word. couple things i want to let you know. bitcoin is well off its lows. nothing that the secretary of treasury said is fearing for the investors here. it's moving actually well off the lows here. we will check on that. plus the dow just broke in positive territory. that's a record here. even one point higher means a record. charles, thank you. breaking news. prime day turning into protest day. we are expecting at any moment the employees at the massive fulfillment center in minnesota will walk off the job on the biggest day of the year for the online shopping giant. the workers are looking for better working conditions and job security, among other issues. fox business has the cameras at the door right there at the center in minnesota to watch it unfold and to get both sides of
this story. but with amazon expected to bring in nearly $6 billion in a 48-hour sales extravaganza, can it fulfill everyone's orders on time, and a lot of orders there are. we will show you the best deals that brick and mortar stores are now trying to emulate. those stores now have a partner in crime. shopify is the company that helps mom and pop become mini amazons. shopify stock up 100% plus. one of shopify's top dogs is here in a fox business exclusive. you need to find out why that company is so hot. on wall street, look at this. we've got a record for the dow. all-time high. will we see it again? right now the s&p is just slightly lower. can it also see a new all-time high? any gain for all three indices means we are back in the record books once again, adding another page. and tropical storm/hurricane barry still being felt along the gulf coast as major flooding
stalls the resumption of business. what we are going to do is take you to the port of new orleans to find out how soon they will be running at 100%. a lot of things to come in, whether it's cargo or oil, matter to your money. plus, as we mentioned, treasury secretary mnuchin just spoke. everybody expected bitcoin to be battered. it is not. we have treason charges lobbed at google. and charlie breaks it on the future of mortgage giants fannie and freddie. less than an hour to the closing bell on this busy monday. let's start the "countdown." liz: yes, to that breaking news, just minutes ago, treasury secretary steven mnuchin dinged facebook's libra cryptocurrency plan. it is at the moment just a plan that they have announced, but in essence, the treasury department says it is seriously concerned that libra and the entire system
of it could be misused for money laundering, even calling the dangers of crypto a national security issue. despite mnuchin's misgivings, bitcoin actually hit a session high, still down about $900, but let me just explain to you, this was a two-week low earlier in the session before secretary mnuchin began speaking. i marked it at $10,410. look at it now, at $10,873 per bitcoin. mnuchin also said the agency warned that facebook must enact proper safeguards against any kind of illegal use of its crypto plan but we should also mention that facebook came out swinging, too, because one day before the head of facebook's new crypto unit, david marcus, heads to the hill, today he came out before secretary mnuchin and said a whole bunch of things. he number one said facebook is willing to work with regulators to make sure its cryptocurrency does not run astray of the law. he also said that there's no way
they will unroll this and unfold it unless it is in full compliance. we will have much more on this with the head of the consumer technology association. gary shapiro. boy, is he coming out swinging on these attacks on a nascent opportunity when it comes to cryptocurrency. after hitting an intraday record at the open, right now we are looking at stocks that are mixed, but we are almost all to the upside here. the bulls started to take a breather at the moment but then i want to say about one minute before charles's show ended, we had the dow punch up by one point. now we're up nine points. as i said, the s&p down just a third of a point. the nasdaq is up 14 points. i remind you that any move to the upside today for the indices, bingo, that's a new record close. deals are pouring in fast and furio furiously as well on monday. gilead is going to invest $5.1 billion to double its stake in belgian dutch biotech galapagos.
that's up 17.5%. ticker symbol glpg. nice move to $171.24. that's a record. gilead is also moving higher, up about 2.66%. analysts call it a win/win. why? because gilead gains access to the pipeline of drugs under development, galapagos gains an infusion of capital to develop the next wave of pharma growth. where one deal opens, another closes. semantic dropping on reports that broadcom is no longer planning to buy the company. you can see them getting hit, down 11% right now to $22.55. reports are that both firms ended the deal because they could not agree on a price. broadcom moving higher by 1.25% in a relief rally there. semantic wanted at least $28 a share but it's at $22 right now.
broadcom balked at paying that price, wanting to reduce it by $1.50 per share. you know, you had symantec say no go. where millions of americans are logging on to amazon to shop on prime day for all of those deals, hey, look up, off your camera, you got to see what's going on here. four countries, workers are walking out at amazon fulfillment facilities. this is a live picture at the moment. that's why it's just a little bit shaky. you can see here that at this particular fulfillment center which is massive, they have just walked out the door off the job to protest their employer. they are carrying some signs, as you can see. folks, we are just getting this camera up because they said top of the hour, 3:00 p.m. eastern, that's where we are, they would walk out. they demand no more discounts on income. that's what they're calling it. this fulfillment center in
shakopee, minnesota has some employees in essence filling 600 tasks per hour, according to susan li who isstein. they are set to belong this four-hour protest. amazon in response is telling fox business you know what, it pays their warehouse workers $15 an hour minimum wage which is more than many of its competitors. many get health care benefits. susan, i just saw the interview you did in the last half hour where you had the amazon management saying you know, they also really get a lot of benefits and then on the other side, they are wondering why aren't we full-time employees. susan: right. well, look, we got a first exclusive look inside this fulfillment center for amazon. these centers over the next 48 hours, as you know, especially as we are expecting record sales over the next two prime days, they are going to be very very busy. so we do have just around 100 staff expected to walk off the
job. in fact, that should have started at the top of this hour. what they are protesting is not pay. as i mentioned to you and you know, amazon has moved their minimum wage to $15 an hour and the amazon operations told us that at this facility, they pay $16 to $20 an hour on average. that's higher than most of the other fulfillment warehouses across the state of minnesota. why don't you take a listen to ashley robinson and what she had to say about this impending strike. >> amazon is getting a lot of press coverage and this is an opportunity for them to raise their visibility as well. it's unfortunate that they are conjuring this misinformation when in fact, we have a really great work environment and we actually provide a public tourist program. for anyone who wants to come in and see what it's like to work here, they absolutely can. susan: they opened up their doors. we will take a look at the robotics in just a bit. what the workers are protesting
are productivity quotas. we spoke to one worker who said she had to box 600 of them in 60 minutes. that was really causing a lot of stress and strain on her body. also something else they are protesting, not enough full-time jobs, a lot of temporary staff have been hired but not enough full-time positions. amazon, i want to give their side, they said that 90% of the staff that work here are full-time. i want to head outdoors and track this ongoing protest. i will get back to you later on. liz: susan is one of the few reporters on the inside. susan is straddling both outside and inside. that's called fair and balanced. you can see amazon's stock is up half a percent at the moment. in the past we have seen amazon stock go slightly down after prime because it fell on the news, right. but at the moment we have trading volume 2.2 million shares. what we are going to do is in just a moment, take an inside look at an e-commerce company called shopify that's changing the game for businesses that are
medium and smaller size. shares of shopify are up 125% year to date and we've got, in a fox business exclusive, the chief operating officer who is going to tell us what his company is doing to help retailers not fight, but figure out how to almost mimic the mighty amazon. stay tuned for that. as i said, amazon up $8.40 to $2,019. amazon not set to report earnings until later next week. can't wait to see that. let's get to citigroup. citigroup kicked off the big bank names, second quarter earnings season this morning before the bell. the bank reported better than expected earnings and revenue for last quarter. now, you can see the stock is responding at the moment positively, up higher, but there was some concern that the fact that it might have a little trouble with some of the margins and trading business might ding other banks. speaking of other banks, 25 other financial institutio, jpmorgan chase, goldman sachs, wells fargo, all set to report this week along with tech names
like ibm, microsoft, and netflix. we're going to be sweating it out here on "the claman countdown" but 56 s&p 500 names are set to report this week. 80 s&p companies overall have warned, though, that their second quarter financial results will be weaker than initially expected. this is hitting companies from alphabet google and apple to pfizer and adobe, micron and netflix also on the list. will this finally be the earnings season that reveals perhaps the clearer impact of the ongoing trade war, and can investors expect it to get worse next quarter? to our floor show traders. scott redler, what do you think? is there going to be some type of reveal where, as buffett likes to say, you see who's been swimming naked? >> right, when the tide goes out, everyone gets to see whose pants are down. that's what happens when they come out with their guidance. right now everyone is pretty much making their assumptions, they think this quarter's earnings aren't going to be great. that's why the pe on the s&p for
2020 has already come down to a 17-time multiple. but let's see the reaction to these earnings because right now, with all of the earnings estimates coming down, the stock market still at all-time highs, the s&p still above 3,000. i think today, we saw citigroup, right, they sold off a little bit but also rallied into the actual print so holding steady isn't so bad. the street is looking to see with netflix on wednesday. that's a key momentum name. it just came off the highs of $385. now the question is how will it react if it's inline, will it rally and if it does, maybe there's more momentum. if they sell it on inline or a little below, maybe the market takes a bit more of a breather. liz: right now it's down 2.25 to $365.03. i want to get to luke. luke, when you talk about impact of the trade tensions, oil and energy products are very much a part of this because if people are concerned about demand weakening in china, even though we've got some chinese data that did not look the worst ever, but
growth at 6.2%, still it's the worst in i guess, what, 28 years, i'm just very interested to know what you think about the oil patch and how that might be affected. >> well, it's in a little bit of trouble, liz. you can believe the numbers out of china or globally if you want but it's about opec. if there was huge demand, they would be cutting back for the last two and a half years. they are constantly cutting production which means there's not enough demand. now, there's a difference between oil and distilled products because we see good demand for unleaded gasoline being the summer, but there's plenty of oil in the world and these trade tensions haven't helped growth or global growth any. liz: i want everybody to take note of the dow jones industrials on the lower right-hand corner. we are just losing nine points of gains we had in the first 13 minutes of this show. we are still up about 1.5 points for the dow. i'm watching this because records are exciting, needless to say, but give me a sense of second quarter numbers. we like it when the markets and
investors tend to start focusing on real fundamentals and that would include earnings, but will we see some type of revelation, positive or not, about the impact of trade and the trade tensions? >> you know, there's no doubt, and it's not a secret, right? these companies have been telling you that we're going to have bad earnings because of the trade war, we're starting to feel the impact a little bit, but look at the market. it doesn't care. because they realize that, you know, for every company that's struggling because of the trade war, there are other companies that are having opportunities right now. and if you look at the u.s./china trade war right now, the u.s. is the best game on the street. listen, i love earnings season. i hate earnings season when everybody tells me this is going to be the best earnings season ever, you know. that's when i usually get disappointed. when we downplay expectations like we have so much, that's when you're going to get some upward surprises. is it going to go into the end of the year? i really don't think so.
i go back to that u.s./china data we saw this morning, the industrial production numbers through the roof. retail sales, through the roof. it's like this thing with china is starting to have an impact, and i think it will on the globe as well. liz: let's remind everybody, chinese government pours on the stimulus to make sure it can try and stabilize what is no doubt a weakening economy due to these trade wars and tensions. good to see you guys. scott, luke, phil, thank you. boeing, dow component, is stalling out just a bit when it comes to its stock shares. the closing bell ringing in 45 minutes. the aerospace giant is almost the dow 30 laggards after the "wall street journal" reported it now may not be until next year that the 737 max jet returns to service. so it's down $3.51. that's good for about a percent hit there. also hurting the stock is american airlines. american airlines announced it's extending its grounding of the 737 max flights through early november, if not further, and a
price cut to $427 from $435. boeing right now, at $361. up next, tropical sto storm/hurricane barry did not carry the punch many expected, and business on the gulf is coming back online. what we are going to do is take you straight to the port of new orleans to find out how they managed to mitigate what could have been an ugly visit from mother nature. but what about the flow of commerce? we're going to check on that for you when "the claman countdown" returns. don't go away. ♪ limu emu & doug mmm, exactly! liberty mutual customizes your car insurance, so you only pay for what you need. nice! but uh, what's up with your partner? oh! we just spend all day telling everyone
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liz: remember on friday, when i was with you, we had this tropical storm turning into a hurricane bearing down. at this hour, we need to tell you that more than 40,000 homes and businesses in louisiana are still without power, after barry battered the region, dropping more than 14 inches of rain. the tropical storm which briefly turned into a category 1 hurricane is now a tropical depression but with rain still pelting the region, southern louisiana still faces more than a dozen road and bridge closures. from a business standpoint, nearly three quarters of oil production or some 1.4 million
barrels per day have been halted in the gulf of mexico. that according to the u.s. bureau of safety and environment enforcement. as oil companies start to survey the damage, the port of new orleans has just opened again and the lower mississippi river is now open to most vessel traffic, particularly business traffic. but there are still some restrictions and shipments can still experience delays of 24 to 48 hours. that matters because the port of new orleans generates $100 million in revenue a year and welcomes a million cruise ship passengers every year. what's the short and long term impact from the storm? we have port of new orleans director of external affairs matt gresham joining us by phone. did you and your port workers make it through okay? >> we sure did. thanks for having me on today. yes, we resumed normal cargo and cruise operations yesterday and today. you know, really new orleans did not experience the forecasted
impacts that were predicted last week, thankfully. the coast guard was able to reopen the stretch of the lower mississippi river sunday to normal conditions, so we were able to resume operations. liz: oh, thankfully. you know, are all flood gates along the mississippi now open? >> oh, yes. the system was a little unusual for us, because it was due to the high mississippi river stage that we have been experiencing really since november and that's due to the heavy rainfall and flooding experienced in the midwest this year. typically this time of year, we experience low river stages heading into hurricane season but it's not been the case this year. so the threat that we typically face in new orleans is water from lake pontchartrain to the north, waterways to the east but the concern this time around was from the river because of the high river stage. so really out of an abundance of caution, the corps of engineers decided to close the mississippi river flood gates which is not typically the case. in doing so, that restricted
access to our terminal. liz: explain to our viewers why all of the united states should care about the port of new orleans. what's coming in and out of there that truly matters to the entire country? >> well, the port of new orleans is on the lower mississippi river, of course, and it's kind of in the middle of one of the largest port complexes in the world. there's five seaports from baton rouge to the mouth of the river collectively, those ports handle more than 500 million tons of cargo on an annual basis. that accounts for 60% of the nation's grain exports, 20% of the nation's oil and coal and you know, supports 530,000 jobs, produces about $182 billion worth of economic output on a national basis. so it's big business. liz: you know what, it is. that's why we wanted our viewers to know. plus you get a lot of cruise ship traffic as well. we are looking at the cruise ship stocks because that's important. you've got rail traffic, norfolk southern, whole bunch of railroads are coming in and
through southern louisiana to get things loaded there. i think that that's really an important business aspect that the country needs to know, right? >> no question. the port of new orleans is the only seaport in the united states with six railroads that converge in our gateway so that's a huge advantage for us, advantage for those railroads. also on the cruise side, we are the sixth largest cruise port in the country. in fact, looking at the "carnival valor" that's outside my window right now. we have a little north of a million cruise passengers we handle annually at our two cruise terminals in downtown new orleans. liz: we are looking at union pacific, norfolk southern, kansas city southern all day. can we get up the cruise stocks? thank you, matt. we are coming right back with the dow still in record territory. what a day. stay with us. jardiance asks:
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liz: as we look at google alphabet shares, they are up about a quarter percent in this final hour of trade as investors appear to be shrugging off flame throwers' accusations that google is committing treason by doing business with china. now, while appearing at a conservative conference in washington, d.c., silicon valley billionaire peter thiel demanded the fbi and cia, both of them, launch an investigation into google's quote, seemingly treasonous ties with china. that immediately sparked counter accusations and questions about his motivation. he was an early investor and is a current board member in google competitor facebook. the social media network has faced plenty of flack for allowing russian interference during the 2016 election. thiel has also founded palantir, under fire for working with the defense department, cia and fbi.
even as white house economic adviser larry kudlow just said this morning on fox business he doesn't think google is treasonous, we bring in gary shapiro, ceo of the consumer technology association, to establish right off the bat, where you stand. do you think google is committing treason? >> first, congratulations on "the claman countdown." it's fabulous. i love it. liz: thank you. thank you. >> i don't think google is committing treason. these tech companies are phenomenally strong and in compliance with everything. google is not doing business in china. treason is a very strong word. i think what they are talking about is one engineer who wrote an article with another chinese engineer about something which has broad applications across the consumer aerospace, other video gaming, other industries, and it's a little bit of an exaggeration. on the other hand, it is our government's job to protect us and to look into claims like this and make sure companies are staying within security guardrails. that's important. that's their job.
so i trust google. liz: that's interesting. would you then support an investigation if it came to that? not support, but would you say okay, listen, that's the government's job to do so? >> if it's something there. the truth is google can't even do business in china. they are blocked from one-seventh of the u.s. population for the most part. other companies have struggled there as well. china has an internet wall. apple has managed to get in but given the trade situation that's so uncomfortable, a lot of american companies are losing our ability to do business with china. it's hurting a ton of companies. liz: he's got this founders fund. he is a very powerful guy in the valley. airbnb, lyft, spacex, postmates, he's getting involved in a clothing company in asia. while onstage at this conference he got really specific and said, you know, google's super secret artificial intelligence business called deep mind, it's a project, has been infiltrated by
chinese spies. how much do people listen to peter thiel in the valley? what kind of power does he have? >> he's very important. obviously he goes against the grain on a lot of issues and that's made him a successful investor. he went against the grain on most tech people and supported president trump. he definitely has the ear of the trump administration. they listen to him. so he's important but we have to look at the facts here. the facts are there's very little to show that google has been nothing but a great american company employing tens of thousands of americans. they are a world leader. if anything, the chinese have replicated some of what they've done and based on what google has done, i wouldn't be surprised if they are trying to break into the chinese marketplace. they should be. it's the fastest, biggest growing country there is. but the trade wars are overshadowing that so it's very very difficult. i think it's very important that we in the bigger issue, we look at our relationship with china and normalize it, move away from these tariffs and get on to the fact that here's the two most powerful countries in the world and we have differences but we have a lot in common we have to
trade. the differences are strong and they're there. our freedom of religion, the first amendment we have to access the internet, to criticize our government, that's what we value. that's what we are more in line with europe on that. we have to recognize that china has a totally different view of the world. and we are going to get ahead on some things. liz: i'm trying to jump in because i have to get -- >> i'm sorry. liz: no worries. got to get your thoughts about cryptocurrency. this too is a brand new sort of nascent business and industry. as a consumer, and a technological development, you just had steven mnuchin an hour ago, the treasury secretary, in essence saying he's very concerned about i guess the safety of it, the privacy of it, and he wants to make sure that calibra and libra, the facebook plan they've got, coming out, that it will be rock solid and safe. now, bitcoin, this was a three-month picture, it's well off its lows of today's session. i don't know if we can get a hot board up on the price there.
it doesn't seem to be affected but what would you say to the treasury department and to anybody watching this, as facebook testifies tomorrow about libra before a house subcommittee? >> well, facebook is trying to create -- see where the future is going and anticipate it and they have gathered some leading american companies and a company from outside the u.s., created an organization outside of facebook, and they are anticipating the future which is what they need to do to be successful. the truth is, that libra is really aimed at the world and we could be world leading in that in terms of currency that offers the average person in the world opportunities that only wealthier people have around the rest of the world. i don't view it as frequent flyer points, if you will, for the great masses that don't fly. so it's a form of currency. it makes sense, it allows easy electronic exchange and a lot of benefits. not only u.s. leadership, but also the fact that as we move from currency, we can shift to a world where there's greater
government oversight of transactions. there's so much that's done outside of the tax system, for example. it will change that. liz: gary shapiro of the consumer technology association, great to have you. when we come back, we will go back out to the amazon protests. -driverless cars... -all ground personnel... ...or trips to mars. $4.95. delivery drones or the latest phones. $4.95. no matter what you trade, at fidelity it's just $4.95 per online u.s. equity trade.
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minnesota to support amazon workers who have walked off the job. they are looking for six hours of strikes on of course prime day, one of the most lucrative days for amazon. what they are supporting is these workers want better work conditions. as we mentioned, the productivity quotas which they think is unfair, more full-time jobs and there are also other representatives here in this crowd. we talked to one gentleman who is a representative of the afl-cio union, that's of course looking to help the amazon workers with better work conditions. even those that are supporting them just within the community and within the minneapolis community as well have joined them. as you see, passersby with cars beeping their support as well. we will keep track of this. back to you. liz: susan, thank you very much. please do. here's why employees walking off the job at amazon on prime day will have some type of effect on the company. because amazon is in the thick of its busiest shopping event of the year. take a look at some of the hottest tech buys for prime day
this year that people are piling in online to buy. for example, the apple watch series 3 normally costs $279. it's now $80 off at $199. airpods are on sale, $30 off the normal $199 price, for $169. the oculus go virtual reality headset, normally lists for nearly $200. it's now on sale for $159. but anti-prime competitors are and have been trying to beat the retail behemoth at its own game. walmart, target, ebay, best buy, all taking a page from amazon's book and running huge sales to rival prime day right now. our next guest is keeping his eye on those and the middle and smaller companies. he's the c.o.o. of publicly traded shopify. it's an e-commerce platform that allows businesses to sell products to anyone, anywhere online. shopify currently powers more than 800,000 businesses in 175
countries. he's here in a fox business exclusive. what are you doing on a day like this where it's amazon prime and everybody is trying to compete? >> frankly, for us it's just like any other day. obviously there's a lot of attention being paid right now to amazon, but i think what's happening is consumers more and more all over the world, they are looking to buy products directly from people that make those products. for a long time, e-commerce was inaccessible to most small businesses through its entrepreneurs. it was too expensive or complicated. with shopify, what we have been doing over the last 50 years or so is making it easier and bending the learning curve so anyone that has a great product or idea can build an amazing online store. we have now helped over 800,000 stores sell over $100 billion worth of products on shopify directly to the end consumer in a way that the consumer and retailer connect directly. while amazon is great, what they really do is rent customers for
those brands whereas when they come to shopify, we allow the brands to connect directly to the end consumer. ultimately we think that's a better bet on the future of retail. liz: okay. i'm going to throw this out there. let's say liz claman wants to start a business or i have a business of clothes that are in colors that look great on redheads. what would you do for me if i had no online presence whatsoever, but really feel that the legions, all 50 of us redheads out there, i know there are more, but need to reach but i don't have an opportunity to get my wares to them. what do you do at shopify for me? >> that's the best part about the product we have built. so what we would really do, if you know how to use e-mail, you can build a store on shopify within an hour. we make it really easy to get set up and help you ensure your business is successful. we make it easier for you to buy ads on things like facebook and google, easy for you to add great product descriptions, easy for you to build a following online. so while we don't give you -- we
are not a marketplace, we do enable these entrepreneurs to sell directly to the end consumer. we try to take away all the different areas that could be -- all the different pain points. for example, you may need to ship out those products once all those people are buying that great clothing you are making. we've gone to the shopping companies and negotiated on behalf of these 800,000 merchants so that they can get better shipping rates. we went to the payment companies to get them better payment rates. we have created shopify capital so that you need money to accelerate your business, you can come to us for cash advances. we have given out $500 million worth of cash advances to entrepreneurs. but the way to think about it is if you aggregate all of shopify stores, we are the third largest online retailer in the united states. liz: wow. >> what that means, the rates we get on shipping and payment and capital and all these different things, we take those economies of scale and give them to the entrepreneurs. what we do is we are levelling the playing field so that you, liz's clothing, you can compete with the big behemoth retailer -- >> i need a better name. >> if you look at kylie
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adjust your comfort with your sleep number setting. so, can it help us fall asleep faster? yes, by gently warming your feet. but can it help keep me asleep? absolutely, it intelligently senses your movements and automatically adjusts to keep you both effortlessly comfortable. will it help me keep up with him? yup. so, i'll wake up ready for anything? oh, we've got your back. so, you can really promise better sleep? not promise. prove. and now, save up to $600 on select sleep number 360 smart beds. only for a limited time. liz: it's that time again, you guys, where i'm going to ask you to go from being a viewer to being part of my team. this sunday, i'm captain once again of team fox business as we enter our eighth new york city triathlon. yep, for eight years, friend of fox news and fox business, chris hahn and i have jumped into the hudson, then cycled 26 miles and cherry on top, run a 10k to raise money for the organization most near and dear to my heart, building homes for heroes.org.
we build mortgage-free homes customized to our worst wounded soldiers returning from iraq and afghanistan. it's our way of saying thank you for the sacrifices they made for our freedom. this is staff sergeant brendan maraco. he was the first u.s. soldier in iraq or afghanistan to survive, are you ready, losing all four limbs after his humvee was hit by an explosive device. when he finally got out of walter reed after 19 operations, building homes for heroes helped build a mortgage-free home completely customized to his injuries. it gave him the strength a few years later to undergo, you ready, a double arm transplant and one of the best days for us, as we all waited to hear, when his dad called to say the fingers on the nails were growing. it took. please help me thank these soldiers who gave so much for us. we will take anything, any donation, $5 can buy a box of rivets or nails. we have a big target to hit. last year you guys helped me raise $83,000.
go to building homes for hero heroes.org. click donate now. we will take anything. charlie gasparino, you want to be the first? >> there's my american express platinum. take it. liz: i'm taking this. >> take it. liz: i'm serious. >> my wife has the other one. liz: are you in? charlie's in. i hope you guys are, too. what have you got? what's the latest scoop? >> treasury department plan on fannie and freddie. lot of people talking about how this thing is being delayed. there's been some news reports on it that it is delayed. here's what we know, what's not going to be in it. i think this is key. not sure how this really affects the stock but it is pretty big. the trump administration, larry kudlow, who is an economic adviser to president trump, they were pushing for a possible privatization of fannie and freddie. no longer be part of the government -- liz: being propped up by the government. >> a privatization, pure privatization. the president actually asked kudlow and those guys and the treasury department and those
guys, steve mnuchin runs the treasury, now mark calabria who runs fha, those are all the players involved in the reform of fannie and freddie which is part of the government since the financial crisis, and we have been taking all their profits, okay. so they're looking like how do we get rid of this from being part of the government where it can affect the government in the future if they blow up, what we do know is this. we are getting this from people close to the treasury department. the privatization notion is not going to happen. they don't believe -- liz: really. >> they don't believe these two agencies can exist as private companies. the stock is going down on this. why is that? because listen, these are companies that would not exist without the government. if you put it out there as a private company, the chances of fannie and freddie being able to borrow cheaply, buy mortgages from banks and then sell those mortgages, it's not going to happen because they borrow cheaply precisely because they are part of the government. so it looks like when the treasury finally comes out with
its plan and i can't give you a timetable on that, it's been delayed. why is it delayed? this is the word i got from treasury. it's delayed because they don't have enough manpower internally. people that know about gse finance and how these fannie and freddie really runs, to basically do this fast enough and steve mnuchin, this has been reported already, has a lot of different things up in the air, trade, budget deficits, 2020 election coming. so the plan has been delayed. it's going to happen at some point. can't give you a timetable. but one thing we do know is right now, at least from the treasury standpoint, privatization is out. now, we should point out that mark calabria reports essentially to hud, a different line of report, he's going to come out with his own, he's going to do something on his own. we don't know exactly what it is. he's spoken a lot about an ipo, of refinancing this thing, maybe returning to getting them out of conservatorship as part of the
government, stopping what's known as the net worth sweep where we take all its profit, put it back into the company so they can build capital. he's got his own thing that he's doing. but to be honest with you, i have spoken with people who know calabria, he has to work with treasury on this. just the way this thing is working. there has to be some mutual buy-in on both. one thing i know from his heart of hearts, he would like to privatize it and get rid of them. there's no doubt about this. treasury is saying if you privatize them totally, it's not going to be a good thing. it might not be able to exist. from what i understand, one thing we have that they know as part of this plan that's not been published yet, they're not going to be advocating privatization as a viable option. that's what i have been told. liz: charlie, thank you. charlie's good to go for a donation to building homes for heroes.org. i hope you are, too. >> i am. liz: you are making money in the stock market. give me some of it. we are about to close at record
liz: just two minutes left to trade. the dow up by its fingernails up five points. nasdaq up by eight. s&p not there yet. if you're sitting on the sidelines, too concerned to jump in, waiting for the right entry point, do you have a fomo, fear of missing out? we need to be careful here is for fomo picks. give us some foam mow picks? >> this covers consumer discretionary. today is amazon prime day. they will be open 12 hours later than usual. the sales are expected to double from last year. the consumer healthy. job market is good.
people are shopping, potentially get appreciation in those names. liz: i don't know why we're showing the dow. >> another thing, treasurys returned almost nothing this year. tough look to the equity markets. where can you look? financials, earnings start out a little bit shaky. they might be decent, they might not. something like artificial intelligence and robotics might be interesting. ubot and robo, driverless cars. we're talking about da vinci robots, a.i., the wave of the future, millenial trade. liz: a.i. is massive right now? guess what else is massive, another record for the dow jones industrials. are we at top a few more innings
silvia has fomo picks on lizclaman.com. [closing bell rings] two new indices, two never-before-seen record closes, that nasdaq and the dow industrials. that will do it for "the claman countdown." ashley: liz, thank you very much. closing new record highs. the dow closing up 26 points. fighting for gains into the lows. but any gain is a new record. not bad. the s&p 500 not quite joining the party. nasdaq just went positive. i will take credit for that. i'm ashley webster in for connell mcshane. melissa: we'll give you credit for record. we won't tell connell, what do you think?