Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20170918

But its a phone call with chinas president that has tons wagging. What was said about north korea and its Nuclear Ambitions . Weve got adam shapiro following all the action at the United Nations and National Security experts john hanna and larry korb on the big signal that u. S. Defense Company Stocks are giving that show fear about north korea is real and palpable. Plus, cisco, it turns out screamed out the warning but qibble fax didnt follow ciscos lead. It was cisco that discovered a major security flaw, ended up exposing telling equifax and then equifax not showing and exposing the details of 143 million americans. Cisco executive chairman john chambers, well talk to him about that, Online Security, Silicon Valley, and why hes walking away from the company that has been his home for decades. Yes, that announced just today. And on wall street, its a new week and the bulls are back. The hat trick once again in range. New intraday records for the dow, s p 500, and the nasdaq. But can we close there . Were less than an hour to the closing bell. Lets start the countdown. Liz breaking news. We are just getting news before we get to the markets that the Spanish Government has just told the north Korean Ambassador leave the country by the end of the month. So hes got about two weeks. Interesting. With all the United Nations numbers and all of the news, the markets are record substituted and quickly we do see that the markets might be losing a little bit of momentum. The nasdaq turned negative but now up about two points. The s p better by 2. 5 points. Dow jones industrials up 67. Any gain for either the s p or dow is a new record. Now, its merger monday on wall street, and this involves a major defense matchup. Northrup, one step closer to positioning itself for the new military battleground space. The defense giant saying it has reached an agreement to buy rocket and missile maker orbital atk for 7. 8 billion in cash. Look at orbital. Skyrocketing on that news up 20 . Northrup gunnum better by three and a quarter percent. Share hollering will receive 134. 50 per share. The 22 premium to the friday close. But look at it now. Orbital at 132. 75 and gaining. The largest in the Defense Sector in two years. And as you see with northrup, it is jumping about 8. 55. Orbital atk is certainly flexing its muscle, and this could be the biggest grinch of the holiday season. Toys r us saying it could file for bankruptcy as soon as in a few weeks. Folks, this is just a very big deal because the toy giant has about 5 billion in debt and more than 1,600 stores worldwide. The news weighing on toy suppliers such as hasbro. Hitting new lows today. We do have hasbro down one and a third percent. Let us get to the United Nations. Can we do that . Because a dark cloud is casting a shadow over todays events at the un as the Nuclear Situation escalates by the minute. President trump meeting with israeli Prime Minister Benjamin Netanyahu in just the last few hours. They focused on the Iran Nuclear Deal seeking support for tougher measures against north korea while addressing the need to combat terrorism on the heels of the latest attack in london. To adam shapiro with an up to the minute. Hes supposed to meet with macron. Are they behind closed doors now . They will be meeting at about 3 15 liz. They will be talking, we believe about terrorism of course, france has been on the receiving end of terrorist attacks but also about the role of iran and destabilizing the middle east and, of course, the Iranian Nuclear deal, which the United States has to determine in compliance with the deal by october or the United States could pull out of the deal. Now, that was also a topic of discussion earlier this afternoon with the Prime Minister from israel. Benjamin netanyahu who met with President Trump. They were also talking not only about the Iranian Nuclear deal but also about mideast peace and the prospects for mideast peace. Heres what President Trump said about that. Peace between the palestinians and israel will be a fantastic achievement. And we are giving it an absolute go. I really think we have the chance. I think israel would like to see it, and i think the palestinians would like to see it, and i can tell you that the Trump Administration would like to see it. But the middle easts isnt the only hot spot in the world. Of course, asia and north korea. We expect president to address north korea when he addresses the United Nations General Assembly tomorrow morning, and we know that the un ambassador from the United States nikki haley has put the un as well as north korea on notice saying that if north korea keeps on with its reckless behavior, the United States has to defend itself going on to say north korea will be destroyed, and we know that and none of us want that. None of us want war. So this is a key issue that we expect the president to deal with when he speaks to the un General Assembly tomorrow. But its something everyone is talking about, liz. Right now. Liz doesnt it amaze you how resilient the markets are with so many headlines coming at them, adam . It does. Its really weve got the were not going to talk about it, but the Federal Reserve meeting tomorrow. I mean, theres so much that could cause these markets to go down, but they resist. Liz what a segue. We are going to talk about the fed because as you watch all of these headlines from north korea, iran, isis, we are looking at something extraordinarily important to the greater part of the investor audience. Markets kicking off the week with a slow fresh records. But is the fed about to blow it all . Janet yellen and company will dip into uncharted water when the fed kicks off its twoday policy meeting tomorrow with trillions of dollars at stake on the feds Balance Sheet, is the Federal Reserve expected to take the historic leap to start unwinding that massive portfolio . Well, whats expected and what should the fed do if it throws some type of massive curveball to investors into something completely off the wall come to pass . Bring in the floor show and our traders at the New York Stock Exchange and the cme. Hey, gentlemen. I really want to ask you. What is the worst thing that the fed could do right now . Ill begin with you, john. Some people say dont raise any more this year. Others say dont even telegraph that were going to start unwinding a Balance Sheet or not. What do you think . I think if you look back at the end of 2016 when the fed kind of laid out of their plan what this year was going to be, i think investors like to see a plan and like to see the fed follow that plan. I think the worst thing they could do at this point is not raise rates. I think many people are expecting that based off of the blueprint that weve seen. And if the fed deviates away from what they said, the markets get jittery, investors get jittery. Its all about transparency. Whether we agree with the plan or not, if you know what the plan is, youre able to trade and position yourself accordingly. So i think the fed really needs to stick onto what theyve been saying. They say that theyre data dependent. The data that weve seen clearly helps and supports that our economy is Getting Better with and we can sustain an additional rate hike at this point. Yes, were in the middle of december. Two and a half, three more months to go in the year, there are other opportunities. But i think we really have to get to a point where everyone feels comfortable that the fed is really grasping this and moving everything in the right direction. Liz you say that the fed could do this, and it could handle that the economys looking good. But allen, inflation isnt there. It is persistently low, and this in spite of the fact that we have a very strong labor market, unemployment is down at 4. 3 at the height of the financial crisis, it was at 10 . But yet, were not seeing wage increases. What are called wage pressures. So does the fed have to wait for that . I dont think so. I think the worst thing they could do is actually raise rates. So theres a possibility maybe 50 50 chance that it happens in december. But you dont get a 75 chance all the way out until june of 2018. I think the unwinding of the bond portfolio is a way to effectively raise rates. So that should happen. But weve been spoon fed for this for how long now . So theyve telegraphed to every single move and gotten exact performance they want. Guess what we have today . You just said. New all time forever highs once again. Liz luke, some of what has been very low in the gap for gasoline prices, it looks like both Hurricane Irma and harvey have skewed and gyrated any numbers that people are trying to anticipate here one minute the crude, we see a build in crude and the next we see a draw in gasoline, and it makes it over once the refiners start cooking. Yeah. But i mean, weve been saying this for a couple of years now, liz. Theres just limited Refining Capacity and a lot of crude. And a lot of Oil Producers and Oil Company Heads have said that they see peak oil usage in 2024. So if you think that it takes you four or five years to bring on a refinery, youre going to be smacked right in front of that year, so youre not going to make that investment, therefore, capacity is still going to be strained where it is right now. So theres a lot of crude but not a lot of refining space, if demand goes up. And, by the way, with the fed, i mean, how many times are they going to fool us . Theyve said that theyre data dependent. But that data, that target keeps moving for six years now. Six, seven years were going to raise rates. Oh, if this happens, if that doesnt happen. I mean, its theyre not going to do anything, and even if they raise it by 25 basis points, so what. Liz yeah, we still have kind of measly growth. 2, 3 . Great to see you, gentlemen. Thank you so much. John, allen, luke. Always a pleasure. And we do have that closing bell ringing in 49 minutes. Dow jones industrials up 66. Were just up 71. This is a big run for the dow. Decent for the s p. The nasdaq clinging to gains of one and twothirds points. Yes, youve heard this number, and you may be one of them. 143million americans got their top secret information. Social security, birth date, addresses, credit card numbers, compromised in that huge i can facts hack. But now, we have more detail on what kind of warning they got and had they just listened to cisco researchers who discovered the security flaw months ago and issued a patch, they might not be in this position today. John chambers, the long time executive chairman of cisco, he tells us the Silicon Valley Corporate America are doing enough to protect your personal information. Oh, and he has big personal news too. The fox business exclusive interview straight ahead on countdown. Dont go away to folks everywhere whose diabetic. Nerve pain shoots and burns its way into your day. I hear you. When that pain makes simple errands simply unbearable. I hear you. I hear you because my dad struggled with this pain. Make sure your doctor hears you too. So folks, dont wait. Step on up. And talk to your doctor. Because you have places to go. And people who cant wait for you to get there. If you have diabetes and burning, shooting pain in your feet or hands. Step on up and talk to your doctor today. Liz the outcry over that Equifax Breach has gotten more disastrous. Reporting that ciscos systems sounded the alarm back in march raising red flags about an Online Security flaw. And then on the same day distributed an emergency patch imploring all users to fix the problem stat. But despite ciscos urgent warning, equifax revealed a week and a half ago that hackers did indeed access the personal data of 143 million americans. As the company somehow continued using a flawed software. No doubt cisco researchers who warned equifax who are shaking their heads today as the number of cases have climbed to 50. John chambers who, by the way, is stepping down as executive chairman of the company he ran for 20 years. John, notice i didnt say retire. Youre not retiring. Its amazing; right . All of these years. Its been a lot of fun, liz. Ive been on your show many times. And i will stay as executive chairman until december when our next session is with our shareholders for review. But its been an exciting run, you know . We change the world. We change the way you work, live, learn, and play. We really created a culture in one of the most admired companies in the world. Liz john, let me interrupt you here. We have a live picture meeting with President Trump Emmanuel Macron, the president. And as they come together, im quite sure that they probably would be talking about things like terrorism and certainly the European Union, the paris climate accord. But what do you hope they crystallize in their conversations . Well, liz, its amazing. Emmanuel macron is a great leader. I know him very well. Hes been to my house for dinner with startups here in Silicon Valley. Weve taught mba courses together in france. Weve been in front of the press about a digital france and how france could be a startup nation for the future. We said the next biggest thing in europe would be france two and a half years ago. It would become the startup nation. It has. So what i would hope that youre about might surprise Many Americans is i think we need to become the startup nation again across our entire country. So i think watching what is occurring in israel, watching whats occurring in france and india, there are many things we can also focus on here in the states in terms of a startup nation because thats where all the job creation will occur. Thats where the income increases will be for american households. Thats my personal passion as well, liz. Liz well, they just shook hands, and theyve been thanking everybody and the president has shown admiration going to france to be with Emmanuel Macron a banker, i should add. So he is indeed quite the businessman. Want to get to this equifax story front page news in the wall street journal that is titled weve been breached inside the equifax hack. Your guys found the flaw and they notified everybody who used this system to patch the vulnerability immediately and somehow the equifax guys either ignored it or couldnt pull it off. Now half a American Adults are compromised. Speaking broadly and generally, how does Something Like this happen . Well, liz, when you think about the broad approach to Cyber Security, youre going to see organized crime, rogue nation states, et cetera, focus on every individual and every company in the world. And thats why security has to be such a key part of every companys strategy, and its why cisco is focused as security as our number one strategy five years ago. So when you think about a Digital World where 500 billion devices get connected very shortly, security has to be able to protect you from all those different aspects. So were the number one player in Enterprise Security and todays events just point again how important it is to every company around the worl w. Liz speaking of every company, is it possible that equifax is just the tip of the iceberg and other Companies May have to reveal they were hacked as well . Liz, i think youre going to see security and Cyber Security issues continue to be front and center. When i talk to board of directors around the world and talk to them about digitization and how thats the next big frontier for them as every Company Becomes digital, security must be a part of that solution. It cant be an afterthought. The average company has about 45 to 60 security vendors. If you dont tie those products together in an architecture, all the bad guys do is find the weakest point. Thats why cisco is so focused on this area and hopefully the network will be the center of how you prevent these types of attacks in the future. Liz you must have done something right in your 20 years because your researchers caught it, dealt with it back in march. And i mean, they sent out the warnings, which is just brilliant; right . Well, youre being very kind, liz. And the last 20 years, we probably more than any other company have reinvented ourselves multiple times. We dont tend to focus on products. We focus on market transitions. The internet change and the way you live, learn, and play. The importance of acquisitions to invasions, and weve done 200 of them. We took the company from 70 million in sales to 50 billion. When i joined the company, 400 people. Its now 75,000. And if theres one thing weve done well is getting market transitions right, being very tight with our customers, and integrate in this transitions and products to solve their innovation problems. And thats what architectures about for security. Liz it has to be malleable. Look, having lived, breathed, Silicon Valley over the years, john, what do you make of the backlash some of the biggest names are enduring not from customers but cries are getting louder the giants like facebook and google have too much power and influence. And im talking about coming from governments. The European Union going after google for anticompetitive behavior. The u. S. Government questioning facebook in the crosshairs for allowing russia to buy russia ads. Are these Companies Really needing to start defending themselves from governments, including our own . Well, liz, youre asking a very complex topic, and we could almost do a full session on it. I would probably break it into a couple pieces. First of all, i think its very important that every company, not just Silicon Valley technologywise work with governments around the world to make sure that we solve the problems together. Nobody can do it by themselves. Second, the bigger issue that youre raising is it cant just be Silicon Valley creating the job creation of large companies. It has to be across every country, and it has to be across all of the u. S. Not just in the east coast and the west coast. It has to be through Central America and the southeastern part of the u. S. In france as an example, they literally looked at digitization of the country and this is president macron doing this. And they said we need to become the startup engine for all of europe. They partnered with cisco, and both leaders on the strategy, and i said france would not only be the next big thing, it would become the startup nation in europe in a period of two years, they moved from about 120 startups and hightech Venture Capital to 486. So theres no entitlement, and i think what youre seeing is the hightech companies have to be aware. It has to be the whole country that benefits. And i think what you see is israel, france, india really focused on getting that inclusion both geographic, age, religion, et cetera. And we need to do the same thing in the u. S. To where my home of West Virginia and ohio and North Carolina and georgia and indiana where ive lived. Liz we literally have 20 seconds, but youve been an outspoken republican. You werent initially a fan of President Trumps. How is he doing . Well, i think if you judge from the results of our country, the stock markets at a new high, and you begin to look at job creation, its going very, very well. So always focus on the outcomes. I do want the republicans and democrats to work together. Im a moderate republican. Thats an endangered species in todays world. Liz who knows. Hes going with chuck and nancy and schumer and pelosi and maybe some centrist republicans will go along with some type of tax reform. John, good to see you. Thank you, liz. Its a pleasure. Liz good luck with your next generation effort; right . Youre not done. Youre far from done. Be sure to go to lizclaman. Com, everybody, to watch more of my exclusive interview with assistant director john chambers. Wait until you hear what hes doing now. Closing bell in about 36 minutes. Caterpillar, look at this company hitting a new record high leaving the dow 30. Joined at the top by caterpillar, boeing. Jp morgan, and goldman sachs. So why caterpillar this week . Jumping after ups upgrades it to a buy from neutral. Setting a price target of 140 bucks from 116. Its 12. 70 right now. Up next, repealing and replacing obamacare seem to have flat lined before the senates august recess. But blake burman on capitol hill today to tell us that the sick patient may be revived as the senate gavel comes in. Countdown coming right back were on to you, diabetes. Times up, insufficient prenatal care. And administrative paperwork, your days of drowning people are numbered. Same goes for you, budget overruns. And rising costs, wipe that smile off your face. Were coming for you too. At optum, were partnering across the Health System to tackle its biggest challenges. And made it liberating. At optum, were partnering across the Health System we took safe and made it daring. We took intelligent, and made it utterly irresistible. We took the most advanced eclass ever and made the most exciting eclass ever. The 2018 eclass coupe and sedan. Lease the e300 sedan for 589 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. That complain about dry mouth they feel that they have to drink a lot of water medications seem to be the number one cause for dry mouth. I like to recommend biotene. It replenishes the moisture in your mouth. Biotene definitely works . Liz we need to take you live right now to the senate floor where theyre about to vote any moment now on a defense policy bill that would pump 700 billion into the pentagons budget. This is a move that would expand u. S. Missile defenses in response to the escalating north korea situation. Fox business blake burman live on capitol hill. Blake, while we wait for the vote on the defense bill, theres been so much talk in the senate of revisiting repeal and replacement of obamacare. But whats going on there on capitol hill . Theres the bill thats going on, liz. And if thats a bill catching you by surprise for the first time thats because in the middle of this summer and the final weeks of republicans trying to repeal and replace obamacare, this bill was an afterthought. But now it can certainly be viewed as a last second hail marry for republicans here, and theres a good reason why when you look toward the calendar. First off, though, as it relates to this bill, what it would do. Strip away obamacare taxes and then also provide assistance to the states in the form of block grants. When you look forward here over the next couple of weeks, it could potentially play out just the way everything did earlier this summer. For example, heres whats at stake. Republicans, they need at least 50 of 52 of their members to end up getting this to the next phase. That means they can have more than two republicans vote no against this thing. The calendar as it stacks up right now, the end of the month, the end of september, that is when this reconciliation measure allowing them to do that ends. So there really is a stop watch on the republicans at this moment. Currently right now, rand paul, he is a no. Other senators to keep an eye on, theres a few of them. Name them. John mccain, lisa murkowski, susan collins, they could potentially end this measure as well. Now, lindsey graham, he is hopeful in an interview today, and i quote here. He says we have 15 days left to do this. We are two votes short. He goes on to say we are one or two votes short. Now, speaking with a Senior Administration official earlier today with, they tell me that the president , President Trump is engaged in this process making calls. And they feel it is quote very possible that this could move forward. Kellyanne conway echoed that sentiment as well. It could happen, and you probably know ive been covering that the bill is gaining in support and steam. Many of the governors like it. Im told were close to 50 votes or so in the senate. However, one skeptical aid of a republican senator told me that the calendar just doesnt shake up stack up right, and they feel that they dont have the votes, at least on the republican side in order to get this. Of course, democrats will not support this at all. Speaking of, a live look right now on capitol hill, chuck schumer, other democrats are making their voices heard on this one. Letting them know letting folks know, rather, that they will not support this. Schumer called this being done in the dark of night, liz, and he called this malpractice on the end of republicans. Liz. Liz blake burman, thank you very much. And, again, that vote may be happening soon when it comes to pentagon defense budget. And speaking of which, with the closing bell 28 minutes away and the dow up 73, we know that boeing is in the dow. Have you noticed how defense stocks have been performing . With the dow as i said charging in record territory, boeing is up 90 plus percent year over year. And maybe thats a message that comes directly from whats happening in north korea. All of the rattling. Global Security Experts john and larry up next on what the commanderinchief should be calling for in tomorrows major addresses at the United Nations. We know hes going to talk about north korea. And does that mean big changes and success for defense stocks . Countdown coming right back think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. 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My Insurance Company definitely doesnt have that. You can leave worry behind when liberty stands with you™ Liberty Mutual insurance. Liz we have two pieces of major breaking news. U. S. Secretary general john mattis is making some comments. Number one, he has announced that the United States will send more than 3,000 troops to afghanistan. More troops going to afghanistan right now. And this has just moved. Secretary of defense jim mattis pardon me. Jim mattis. I knew that. This one, i need you to really work with me here. He is saying that military options on north korea exist that would not put seoul, south korea at grave risk. Now, he didnt say sanctions. He said military options do exist on north korea that would not put seoul at grave risk. Seoul, of course, is just a few miles south of the dms, the Demilitarized Zone, and he would decline to offer any details on what hes talking about. But thats why we have our experts right here. John hanna is defense senior counselor and larry is former assistant secretary of defense. Larry, ill throw this one at you. What do you read into this . I mean, one of my producers said assassination . Or am i jumping too far ahead on this . Well, you would hope hes right, but i find it very hard to believe because even if you attack them overwhelmingly, they still have all those artillery pieces near the dmz, Demilitarized Zone that they could fire at north korea and south korea and given the population of seoul, you would kill tens of thousands of people, including Many Americans. So i think hes just trying to send a message to north korea. But if you ask me, i would say its probably improbable that you could do that, given what capabilities we have and what they have. Liz john, general mattis is not one to just throw comments out. But theres still the option of sanctions. However, President Trumps been extraordinarily clear. He doesnt want to follow the same path that president s well before him, well before george bush and barack obama followed, and that was peaceful solution through talk and negotiation, which didnt seem to work. What path would work right now . Well, i think if were going to have any chance of getting a peaceful resolution to this conflict still, liz, and it is very late in the day, i think that the key missing piece here that the president has recognized is china. China has all of this economic leverage over north korea. And unlike the case of iran before the nuclear deal with iran, we have not exercised any of our secondary financial sanctions against the Major Chinese banks and industrial conglomerates that continue to do business with the kim regime, have continued to help it to evade sanctions. I think if were going to have any hope, we need to start coming down really quite hard on a selected group of very powerful and politically wellconnected stateowned banks and companies in china that have continued to do business and keep the kim regime afloat. Liz gentlemen, at what point does china decide that the economic relationship with the u. S. And with the western world is more important than protecting these jokers in north korea . At what point, larry, does china look at all of this and say you know what . Were out. But dont we have to squeeze china much harder . Well, they also want assurances that we do not want to overthrow the regime and reunify the Korean Peninsula under democracy and have american troops stationed there. I think we need to send that message too. Because the chinese are balancing two thing. Chinas quite right, they have the economic concerns but on the other hand, they have the security concern. And things are not going well for them because with these tests over japan, were talking about putting, you know, more missile defenses into japan. I can tell you from dealing with the chinese, they still havent gotten over world war ii. They are really concerned about any step that japan might make to become a significant military power. Liz well, all you have to do is look at defense stocks. Everything from rocketry to satellites, spy satellites. We just had a big announcement of a possible acquisition here by northrup, and they would like to buy orbital. Orbital is a rocket maker, but everybody is talking about this new future. The next military battleground space. These names have performed beautifully. All of them. John hanna, what does the president need to say tomorrow . And does it surprise you that defense names are doing this well . No. It doesnt. Because i think in addition to whatever we do with very heavy targeted sanctions at the big chinese banks and companies clearly on the defense side, i think we need to move as quickly as we can to next generation missile defense, which is probably going to be space, probably going to be directed energy and lasers, as well as into major, major cyber offense capabilities so that we can really begin to take down and target north Korean Missile and Nuclear Facilities as well as north korea in banks and economic centers. Liz sure would be nice not to put our service men and women in harms way. Although, the new news here. 3,000 new troops. U. S. Troops going to afghanistan. That announced today. John hanna and larry, we so appreciate you being here. Closing bell ringing in 17 minutes. Were gaining some ground here. Up 83 83 sorry 83 points for the dow jones industrials. Were now at 22,351. Any gain, one point, 83 points, thats the new record close if we stay there. Once top level lieutenants in the Trump Administration Reince Priebus and Anthony Scaramucci crafting their post white house careers. But steering the wheel in a completely different direction than dc politics. Charlie gasparino with exclusive details on whats next for these two former trump aids who didnt really like each other before. Charlie breaks it next on countn so we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Liz remember that battle between Reince Priebus and Anthony Scaramucci when they were both part of the Trump Administration . Former chief of staff without a job outspoken Communications Director also without a job, the tables have turned, though, as scaramucci tries to make a dent as a tmz contributor and priebus, well, he may have the last laugh after all. Charlie gasparino, you have exclusive detail. Do you remember played scaramucci north dakota Comedy Central . Liz yeah. Reince, im going to stop the leakage. Did you hear that, reince . Im stopping the leakage. Look what hes doing. Look what hes doing. Liz those were the days. Heres what we know now. As we know, anthony is doing i think today doing tmz. Liz harvey levin. I actually like tmz. He has juicy stuff. Liz harvey levin with the water bottle hanging over the. I got a electron on the website. But heres what we know about his nemesis. Remember, they had their famous blowup inside the Trump Administration during anthonys ten days as communication director, got fired, general kelly got put in as chief of staff and then anthony got fired two days later. Heres what we know about priebus now. This is very interesting. And when you say last laugh, this is very this is kind of where it goes. We understand hes fielding numerous legal and corporate job offers after his Trump Administration exit. As i said, this comes as anthony is appearing on the tabloid tv show tmz. Its interesting. Priebus may take a job of law firm michael best where he once worked. Hes going to run the new york office if he falls through. Let me just get through this. But from what i understand, at least four other dc law firms are interested in hiring priebus. A wisconsin firm. Priebus is a wisconsin guy. Thats one reason he may go there. He knows all of those guys. But he has four other firms. And this is interesting. We have people very close to the matter. What hes saying hes going to earn with any of these jobs, millions of dollars a year. Hes going to be doing very well, based on his political acumen. Liz and well. He ran it well, a lot of people would argue, before trump, he, you know, was quite was it his fault that donald trump had a Dysfunctional Administration where he didnt listen to anybody, including his own chief of staff . So a lot of people think no. So his career is going to pick up. We understand hes going to make this decision some time by midoctober. Well see. If you notice, hes been keeping a very, very low profile, but were going to find about him soon, probably midoctober. And the job offers are good. Including this Wisconsin Law firm, this michael best thing, which he worked in the past. Which i think theres a if a millennial thing, so he may go there. Liz and last night on the emmys. I thought he was great, didnt you . Liz yeah, well, i thought it was funny. I didnt see it live because i was too busy helping with homework. Heres the thing that i think people miss and a lot of reporters dont know this. We saw when they worked with trump, you know, you got a different view of sean spicer and priebus. I knew these guys before then. They were both decent guys and sean spicer was a very good guy. He would tell you stuff, he would help you get it right. He was actually a good pr guy to deal with. I always thought he was professional. Reince, the same way. Even though i mispronounced his name, he never held it against me. These are good guys, and i think good people like that generally land on their feet, and i dont know what seans going to be doing going forward. I keep hearing something maybe corporate relations or maybe Public Relations and make some money doing that, but i do know that priebus has a lot of job offers. Liz i need you to look over your Left Shoulder at the traffic from the United Nations to show our viewers. Thats 6th avenue and all you see are taillights. I heard nobody is getting around manhattan today. Liz no one. So you know what you do . You take the subway. Its the most efficient mode of transportation. Or im just going to liz or you point west and only stay on the west side. Im just going to go to san to dinner. Liz for folks who dont know, un traffic for this entire week will cause people to miss job interviews, meetings. Take the subway this week. Liz well, you cant from jersey. Cant you take if you take the train from where to f . Liz no, i have to drive. No bus . I cant see you in a bus. Liz well, listen, i would. Charlie, thank you. Youve never. Liz i rode the bus to high school every single day. All right. Liz charlie, thank you. Closing bell seven minutes away. The dog days of summer are behind us. But david has some picks of the litter that could make you a pretty penny. Give your portfolio a little puppy love. Were about to teach you how. Next. At fidelity, trades are now just 4. 95. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Fidelity, where smarter investors will always be. Liz. You need to look at nasdaq here intraday. It fell off the highs but climbing back up. 6456, it is just four points away from a new alltime record close. The number to watch, 6460. Dividendpaying stocks were hot a couple years ago. They were kind of in the doghouse as investors looked for momentum names, juicy, exciting plays, now the dog days of summer are in the rear view mirror, are you hearing dog references, my next guest says it is time to give your portfolio puppy love, by going david dietze, with dividend plays, right . With pricey markets were looking for strategies more defensive but still have opportunity to perform. What stunned me, the dogs of the dow strategy, which is buying the top 10 high yielding stocks in the dow has outperformed since the turn of the century, every single time segment, oneyear, threeyear, 10year. More income, less risk, what is not to love . Liz which green names . Absolutely. Chevron has nothing intrinsically wrong with it. You have near 4 dividend. You have something enat that integrated player. After that i go with general electric. Liz really. That is the worst performer last 18 years. Worst performer this year. So the pressure is on. They have changed management. If they cant turn things around soon, you will have a company that is broken up. While youre waiting collecting near 4 dividend. Rarely has ge dividend been this high. Liz ge dividend. What about another name . You like pfizer as well . We do. Health care is in the doghouse with politicians on both sides of the aisle batter them, talking about Rising Health care costs changing the aca. Pfizer, that is the bluest of the blue chips in the health care industry. Melissa liz what is the dividend. Close to 4 . Liz better than the 10year, 2. 2 . Absolutely. Liz nasdaq was not quite there yet. Well see new closing records for the dow and s p, pretty stunning. The s p is about to see its i believe 43rd since election day. The dow with its 57th since election day. How can you not give the psychology of President Trump the businessman in chief some credit here . Yeah, absolutely. I think what people have been focused about, where is the trump agenda going . But the fact of the matter he kept new regulations coming into place. He kept new taxes being added on. That alone given investors and people in the street a lot of confidence in terms of the economy. Liz youre liking dividend plays. Well put them up on facebook. Com lizclaman. Thank you, david. Thank you, liz. Liz a few seconds before the closing bell starts to ring. It starts is a seconds before the top of the hour. We have record for s p 500. Another record for the dow. [closing bell rings] well wait to see the settlement of the nasdaq. Let me send it over to david and Lauren Simonetti for after the bell. So close. Well it a couple minutes before we know, david. David popped into record territory as you were talking. Lauren nasdaq hit a record. Dow closing up 6 points. Ending brand new record high for the fifth day in a row as investors see renewed hope for tax reform. S p 500 logging new record as well. Nasdaq, oh so close five or six points away from a record. Well see once numbers settle. Im Lauren Simonetti in for melissa francis. David good to see you. Im david asman. This is after the bell. More on the big market movers. Here is what else were covering for you in a very busy hou