Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20161209

From dow 20,000. The dow industrials have 91 points, thats a session highs than an hour ago, touched 19,700 for the first time ever. Were at 19,706 and climbing. Russell is slightly negative, the s p is jumping, too. Can the stock market flex muscle and dow flex real muscle to break 20,000 . Were in the middle of all the action, were going to break it down for you tickbytick, have you got to stay with me right here. To the budget showdown that is happening this hour, the Senate Democrats right now and the republicans for a nail tooth and nail battle behind closed doors over the Government Spending bill. We are less than nine hours until a very significant midnight deadline and the stakes could not be higher. It could maybe affect the markets today on monday. We have a fox business exclusive with the man in the senate whos been in the chambers all day. All day long, republican senator from mississippi roger wicker with me in a firsthand recap of the battle inside the senate going on right this second. And corporate heavyweights from ford and rex nordand carrier and for whatever else he doesnt like he sees, one man says why isnt the Business World battling back . Enough is enough. Peterson institute for International Economic senior fellow on why he thinks Companies Must stand up and fight the president elect right now. Its a fox business exclusive. As i said, were less than an hour to the closing bell. 58 minutes from the floor of the new york stock exchange. Were live. Youre in the right place. Lets start the countdown. Okay, breaking news, were going to split screen the show pretty much all day long with, just less than an hour to the closing bell, the breaking news is were awaiting president elect donald trump, he will be speaking in baton rouge, louisiana. Getoutthevote rally. But we are going to jump to that and listen to what he says in case of anything, you know hes been speaking quite a bit and quite often and what he says sometimes definitely affects the markets. Try the last six sessions or since election day where we have seen the record rally run, and to the market, boy, is it considering, the market is continuing to stretch like a rubber band. Were on the edge of our seats watching everything from the dow to the russell 2000 which is one index slightly lagging at the moment. Barely. The transports, the choochoos and the airlines, doing unbelievably well, both major averages are getting tinged slightly in red after hitting lifetime highs earlier in the session. If these close lower, the russell will snap third record close streak and the transports snapping the two Straight Record close, to the dow, s p and the nasdaq, all in the green at the moment. What do we have here . Expected to close at record highs, they have hit lifetime highs at i said they were climbing with the Dow Jones Industrials, this index is on a tear, 19,710 with just 711. If the dow manages to close at a new record, that will be the fifth record close and longest stretch of records since july 20th when the blue chip index knocked seven consecutive lifetime finishes. The volatility index, the socalled fear index, folks, it is expected to close at a fourmonth low. Level, 11. 3. We saw that yesterday. But guess what . These levels havent really been seen in the 26 years that the vix has been in existence. So lets pick apart the names were watching. Media giant fox business Parent Company twentyfirst century fox struck a deal to acquire sky tv, at least the shares it does not own. 13. 50 for the 60 stake that is out there right now. The deal values sky at 12. 3 billion. While shares of sky shot up more than 25 , quickly check, twentyfirst century fox, the acquiror down just under 2 . Thats par for the course when it comes to the acquiror pulling back slightly. Minute i walked on the floor of the new york stock exchange, i started looking for the famed dow 20,000 hat. Let me show you something. All i had was a dow 19,000 hat with the tags still on. Why . Because that just happened five or six sessions ago. Dow 20,000 has almost snuck up on a lot of investors, even the pros, considering we just hit 19,000 last week. The dow 20,000 hats have been ordered. Where is peter, Peter Tuchman ordered the dow 20,000 the has, mayor coming monday. Peter, youre okay, one of the traders put in the big order. Traders at the new york stock exchange, cme group and the nymex talking about all this rally and the moves. Tim anderson here. Tim, we keep asking this and i dont want to be that negative, you know the one whos saying yeah, but, again were seeing significant moves and doesnt look like the rally loses steam . Were very close to the point where were too close to the end of the year to expect a significant pullback. Lot of performance driven portfolio managers, might want to go home at the end of the year with as little cash on books as possible. Liz you mean tile it in. Sure. Liz chris robinson, what are you seeing on the floor of the cme right now . Were going to get the 20,000 print thats coming. What to you do . What do you protect . In 22 days rallied over 13 . This is the time everybody is buying 20,000 hats, you got to be worried if we drop down to 18, 17, so now is when you need to get your protection, when this corrects, its going to be scary. Everybody is happy, we are going to have a correction sometime would. You be hedging . Explain. You guys at the cme are brilliant at buying hedges, how are you hedging . Please advise our viewers as a little downside protection. Yeah, well, one mini contract, one mini s p contract, you can protect 100,000 worth of stock. So one contract. We trade hundreds of thousands of contracts every day. You buy that, put option, that protections you in case we go from 20,000 to 16,000. Thats the protection. Liz whats a mini hedge costing. If you divvy up the money, you will spend between 3,000 and 4,000. But you dont have to spend that much. Liz okay. You do have the ability to protect yourself if youre worried about the stock market falling out of bed. Okay, let me say right now, the dow is up 109 points. We are continuing to climb. With 52 minutes before the closing bell rings, what do you see as a real opportunity, a buying opportunity right now, tim . I think the Energy Sector has a tremendous amount of potential to go higher. Oil held a lot of the gains from the opec agreement a week and a half ago, whats really intriguing about it is that the dollar has also been very strong. Liz so we have both which is rare, right . It is rare. Liz that brings me to Jeff Grossman trading oil at nymex. Tomorrow we have an opec and nonopec meeting in vienna. Does that have the potential to move oil higher than it already is right now. We see light sweet crude moving higher, 51. 47 in the aftermarket. Definitely. This is a very important meeting, if they do not shoot themselves in the foot and fight with each other, this market is working its way higher, whether you like it or not, liz, im sorry, we could be at the end of this year, i would say being reasonable could be in the mid 50s. Granted, everything has to fall in line and has to be a good consensus out of the meeting, which is always debatable, there is always the unlikely factor that there will be grumbling among some of the members, and well see that maybe change things, but right now im positive, ive been positive, contrary to popular opinion from you, but needless to say, were working our way higher. Liz right, i dont want to get our viewers thinking i got to watch this opec meeting. Remember i told you a couple days ago only five nonopec members made reservations to attend, now its nine. Tim, great to see you, chris, have a good weekend, and Jeff Grossman watching the oil markets for us. We love our traders. Guess what . We have the dow up 108 points, slightly off the alltime record here. 19,726 or so. Weve got 50 minutes before the closing bell rings, we want to get back into baton rouge, louisiana. We have live cameras trained on that stage, donald trump is about to address the crowd at this rally and actually a rally in support of Republican Senate candidate john kennedy. Lets go Connell Mcshane for a preview of what we can expect. Connell, youre at trump tower. Well split the screen and keep an eye whats going on. If we interrupt you it will mean the president elect is coming onto the stage. Reporter i know, liz, with Steve Scalise getting on the stage, we must be getting closer to the president elects appearance which was pushed back after meetings at trump towers. The thank you tour continues later on in grand rapids, michigan. Hes stumping for another political candidate today but also a chance to give thanks to some who supported him in the election. As he does that, he continues to put together this administration. We have a couple of developments to get you up to speed. By early next week, were hoping to have announcement made by the president elect as to his pick to be the next secretary of state. Weve been told that fox, from a person close to mr. Trump, Rex Tillerson stock on the rise, the ceo of exxonmobil and given serious consideration. Doesnt necessarily mean he would get the job, his stock on the rise. The likes of rudy giuliani, stocks on the decline. Mitt romney among others in consideration. That decision next week. A highly placed transition source told fox another big name for the Business World, gary cohn of Goldman Sachs is the selection to head up the National Economic council. Nec. Giving the president economic advice once in office. That was interesting. So all of that is happening. As we wait flower trump today moments ago at trump tower, local members of the new york delegation of the Congress Stop by and the security, we talked about it, so tight here at trump tower and costing so much money, these folks are pushing for more federal money to pay for it. Listen. It is an unprecedented challenge to protect the president elect and his family. We are at the busiest. Two of the busiest one of the busiest intersections in the entire country. Over 10,000 people walk past this site every hour. Reporter all right, liz, congresswoman Carol Maloney points out it is very, very expensive. They would like to see 35 million in federal money and the government allocated 7 million. One of the many stories were following. Back to you at exchange. Liz a lot is going on here. Youve been down here before. There is a little electricity on the floor as we watch this dow charge higher. We just got a new high, folks, up 119. Had been up 118. 19,734 with about 47 minutes before the closing bell rings, you could very well call that the continuing trump rally. Be sure to keep it right here for special coverage of all of the president elects movements beyond baton rouge, he is heading to grand rapids, michigan right after he leaves baton rouge. Hes not on the stage yet, but as soon as hes done, he will go grand rapids. Lou is working hard on this friday night, live, 7 00 to 9 00 p. M. Eastern, covering every step of this. Speaking of steps, how about a bunch of runs with the bull run so much up today. Easier to talk about what is down, the metals and miners. Whats up . One dow name that is jumping is pfizer, one of the fastest runners on the dow 30. Great news for people suffering from alzheimers and families. Pfizers alzheimers drug showing promise and early data. The next step will be testing patients with the disease. So were looking at pfizer right now. The leader on the Dow Jones Industrials all the way at the top. And have you how many times do i have to beat you guys up . Listen to charlie gasparino. A week ago, you would have known whats happening today. He flagged you the hot question today could Goldman Sachs president gary cohn be now the third Goldman Sachs alum to join Donald Trumps administration . Charlie broke it, and now hes got more on it next on countdown. Before we go to a break and were focusing on money and the markets, but need to give you a live look at the white house where moments ago president obama ordered all flags lowered halfstaff in honor of legendary former astronaut and senator john glenn and died yesterday at the age of 95. A true american hero. Well be right back. Whats with the dogsized horse . Im stressed trying to figure out this complex trade so i brought in my comfort pony. Well, you could get support from thinkorswims inapp chat. So you dont need a comfort pony. So what about my motivational meerkat . Inapp chat on thinkorswim. Only at td ameritrade. Liz breaking news. Donald trump has just now arrived and is speaking in baton rouge, louisiana at the getoutthevote rally, as the dow is up 130 points. Lets listen in to donald trump, the president elect. This one . But it was a big hangar. Bigger, and we have a hell of a crowd today but ill tell you, we have something. So what happens, i win, and then a week later im going over the count and it says louisiana, and it had names ahead of me for delegates. I said wait a minute, so i won the state. I got more votes than anybody by far, it wasnt even close, and the system is rigged i said, so you taught me and after that, we didnt let that happen anymore. We didnt let that happen. We cut it off. We cut it off. Its the past. But i want to thank you, this is an amazing, amazing state and tomorrow we need to you go to the polls and send john kennedy to the United States senate, and thats why im down here. [ cheers ] thats why im here, hes a great guy, hes a good guy, number one. Hes a good person, and somebody that id known over the years and somebody thats worked hard for you over the years, and now the big thing we have to get to people to go to the polls, if you go to the polls hes going to win. If you dont go to the polls, hes not going to win, if he doesnt win, ive got myself a problem in washington. You know we have, its pretty close, its pretty close, we need john in washington, not only for the vote, but leadership and everything else. If you go there, were going to win. Kennedy is a proven leader whose balance, which is amazing, 16 budgets, returned millions of dollars to taxpayers. Hes a tax cutter, and hell be a true fighter for louisiana in washington. He will be a fighter for you. So important. We need john kennedy in the senate to help enact our agenda, and we have to do it. Our agenda on behalf of the people of this state and for this country. That includes protecting the second amendment. Repealing and replacing obamacare [ cheers ] securing our southern border. [ cheers ] well build a wall. Thats right. Were going to build the wall. Well, if johns not, there we cant build the wall. Now i know youre going to come out. Were going to build the wall. Build that wall build that wall build that wall build that wall [cheers] this is louisiana. We dont need coats, right . We dont need the coat. And by the way, i dont need the hat either. Right . Who wants a hat . [cheers] all right, nice looking tall guy. Give it to that kid, come on. [ cheers ] were going to bring back our manufacturing jobs, reduce taxes big league, were going to confirm our nominee to the United States Supreme Court. [cheers] electing john kennedy will help ensure that government stops listening to the special interests and starts delivering for the National Interests for our country, the people, the people that showed up to vote. People that were forgotten people. You know what im talking about. Folks, youre not forgotten anymore, believe me. Nobody is forgotten. [ cheers ] i think the democrats are going to change their game plan next time. What do you think . The forgotten men and the forgotep women are not forgotten anymore, its time to deliver for you, the American People, to help me do that, i also need to you elect mike johnson in the 4th district. Another fighter for louisiana. Mikes father just passed away. Just passed away, so hes in our thoughts and hes in our prayers. Very amazing, horrible timing in a sense, just passed away, and he loves his father. I will tell you that, and his father was a great guy. So get through the and vote for johnson and vote for kennedy. Get out and vote. Working with these great louisiana leaders, were going to do Amazing Things for our country. Our plan begins with bold structural reform to create millions of good paying jobs, we lost our great jobs. Theres going to be a big part because youre in the energy business, more than most plac. [ cheers ] and were going to see refineries and were going to see pipelines and were going to see lots of things happening. [ cheers ] so get out there and vote. First on taxes, were going to undertake one of the great tax reforms and simplifications in american history. At the center of our plan is massive tax relief for the american middle class. Were also strikers, all right. You Better Believe it. Were also going lower our business tax rate from 35 all the way down to 15 so we can start hiring again. [ cheers ] and we are going to make it not so easy when Companies Want to leave louisiana and go to other states. Go to other countries. Go to other states, you know what . If you do, im sorry, you got to fight for yourself, right . But they go out, they go other countries, they make their product, they sell it back through a weak border, we have a very weak border, probably the weakest border, does it get weaker in the world than this . We fight for other countries so they can have a border, but we dont fight for our own borders, isnt it incredible . Its incredible. On regulations were going to eliminate every single wasteful regulation that undermines the ability of workers and companies to compete. On energy, you more than any other state, almost, we will cancel the job killing restrictions on the production of American Energy including shale, oil, natural gas and clean coal. [ cheers ] and you know we havent had refineries built in decades, right . Right were going to have refineries built again, folks. [ cheers ] we use refineries from other countries, the whole thing is crazy, its crazy. On infrastructure ill ask congress to pass legislation that produces one trillion of new investments in americas crumbling infrastructure. Thats so true. I have a friend, one of the biggest truckers in the world, and buys expensive trucks, i wont give you the name, but the most expensive, most beautiful, hes so proud of it. Best. He calls me not so long ago and he goes you know i travel from texas to new york. I travel from louisiana to someplace. He said i come back and my trucks are busted up because of the roads. I said when did that happen before . He said never happened, never been like this. Theyre all busted up. And he said hes going to buy cheap trucks from now on. We want him to buy the better trucks. We want to fix up our infrastructure big league. That includes whos better at that stuff than me, believe me. I dont need your vote anymore, but im telling you, im very good at this. I dont need your vote. Can you imagine that . Four years ill need your vote. But nobody is better at that. Thats what i do. Its made a big impression, when he told me this, i said when did it used to be this . Never been like this. Never. New projects, were going to do new projects for Rural Communities and inner cities, and thats been forgotten too, if you think the inner cities have been forgotten. Not any longer, and we will put our people back to work in the process. Our people. [cheers] its time to get help for the American People and we are going to get people off of welfare and theyre going want to to work. Were going to get them into the labor market and theyre going to make much more money than they ever made before, and were going to rebuild our country with american hands by American Workers, okay . [cheers] my administration will follow two simple rules, buy american, and hire american, okay . [ cheers ] because from now on, its going to be america first. America first. [cheers] our trade deficit is now nearly 800 billion a year. Can you believe that . Whos doing this . Do we have Business People in the audience . Do you think you might be able to negotiate a slightly better deal than that . 800 billion. We make all these wonderful trade deals. I love trade and i love free trade, but right now we have foolish trade. We have okay, ready . We have stupid trade, stupid trade, stupid. [ cheers ] dumb. Its a chronic drag on growth and a destroyer of jobs and the wealth of our country. You see whats happening. We owe 20 trillion and its going up rapidly. Thats why well renegotiate our trade deals, stop the product dumping and the currency manipulation which is a disaster for our country. Every time we get going, china and others just knock the hell out of the value of their currency and we have to go back and back, and it just doesnt work, folks. And defend, were going to defend every last american job. You know they did a big report. How come trump won by so much . Remember, there was no way he gets to 270, right . The electoral clemming, which is amazing, because you have to go to all these states and amazing experience, there is no way i get to 270. Wow. I went to the state of maine four times because i needed one. Because i was at 269. I needed 1. Until the election came and boy did we blast by the 270, right . 306. [cheers] 306. And i guess they did a recount in wisconsin and after 70 or 80 , somebody, i think we picked up 32 votes. [ cheers ] all these millions and millions of votes, i think we picked up about 30, and if a Company Wants to fire their workers, leave our country and ship their products back in, there will be consequences, including a very, very substantial tax. In other words, theres no tax, theres no tax. Somebody said these reporters, these guys, theyre Business Reporters [booing] the one thing we have done, we have exposed the credibility of the press. They have the lowest credibility of anybody. [cheers] and our popularity, i say our, this is a movement, and were in this thing together. Were all in this together, but we are shooting up. Like a rocket ship, right . Maybe because i dont like 4. 2 billion aircraft [ cheers ] somebody said how much is that going to cost . 4. 2 billion. 4. 2 billion . I think well do it for a little bit less. Dont you think . Maybe billions less, okay . But were going very rapidly up. But were going to because its common sense. We dont Want Companies to leave our country, go another country and sell their product and sell the product where they left . We have unemployed people, jobs for years, carrier, they announced a year and a half ago, they already have a plant built. Think about what you could do if they havent started or said anything yet. Theyre not going to leave because were going to put up a very high tax. If they want to build their plant outside of this country, thats fine. If they think theyre going to celt product and have no tax, thats not going to happen. Not going to happen. And therefore, theyre not going to leave. They may leave, maybe theyre having a hard time with employees, thats possible. They may leave but leave for another statement theyre not leaving for another country easily. If they do, theyre going to have a very, very substantial tariff or tax to pay. Thats it. And you know whats going to happen . Theyre going to say we like louisiana very much, right . Were not leaving. All right. I dont say 100 of the time but ill tell you what, close to that number, its going to be pretty close, and we have, we lost 70,000 factories in this country. We have so Many Companies right now. I think probably sfrild said couple of months ago we have so Many Companies negotiating to leave, i dont think theyre negotiating so fast right now. Ive heard that. And you see whats happening with the stock market and a lot of things because they understand we know what were doing. We cant let it happen. Our country is being drained, drained of its jobs and good jobs, and theyre going to other countries, and just not going to happen. On the military, we will rebuild our badly depleted military. [ cheers ] and ensure that our servicemembers have equipment and training. Technology and resources. Everything they need to get the job done. Now hopefully we will never have to use that great power that were going to build. We are going to build the Strongest Military that weve ever had, and there have been few times when our country has needed it to this extent, but i believe in peace through strength. You know, you look at some of these other countries, what theyre doing, what theyre building, and you know what . When they see what were going to do, theyre going to call, and im going to have great relationships with china and russia and all of them, and theyre going to say youre doing a lot of building, is there any way we can ease it up a little bit . Im okay with that. They have to ease it up, too. Theyre not easing it up. If you look at china. If you look at whats going on in so many other countries, theyre not easing up, if theyre not easing up, were not easing up, okay . [cheers] at the same time, we will ensure our veterans have the best medical care anywhere in the world. [cheers] we will honor those who have served this country, that includes respecting and defending the American Flag. [cheers] nigh frankly, when i see people ripping up the American Flag like that flag, beautiful. I think its a disgrace, okay . And you can say what you want, free speech, its wonderful. Im a big believer in free speech, maybe were going to be putting something in to see if we can do something about it. This is a special case and when i see people burning the American Flag and then stepping on it as its burning up and stomping on it and stepping on it on the ground, i dont think, i dont think, i dont think i remember that when i was growing right . How many of you guys are young like me . Remember when we were very young . I dont remember that happening. I think we have to do something about that. On crime, the murder rate has experienced the largest increase in 45 years. The press doesnt tell you. That were going to support the incredible men and women of law enforcement, and were going to bring this terrible crime wave to a end. [ cheers ] on immigration, well build a great wall and we will put an end to illegal immigration and stop the drugs from pouring into our country also. [ cheers ] weve become a drug den. During this campaign, i had a chance to meet the amazing families of the remembrance project. Parents whose children were killed by illegal immigrants. A Trump Administration will end this long nightmare of violence, and thats what it is, its a nightmare of violence. We will fight to protect every americ during the campaign, i also spent time with American Workers who were laid off and forced to train foreign workers, brought into replace them. Were not going to let that happen anymore, folks. Theyre forced to train people, they were laid off, in places for 30 years, more, less, and theyre forced to train, and if you dont train them, were not giving you any severance. Not going to happen. Thats actually demeaning. Not going to happen. One of my First Executive orders will be to ask the department of labor to investigate all visa abuses that undermine jobs and wages to the american worker. This is about our country now. This is about our country. Ive studied a lot of the trade deals, i love reading this stuff, something strange up there when i work. But we have the worst deals. I looked at trade deals made with mexico. The worst deal made with all of mexico, they made a lot of deals, not just us or nafta, which is a disaster. We have the worst deal made by any country. Were by far the biggest, we blow everything away, we have the worst deal made by any country, they didnt take it into account, its complicated, doesnt matter but it was defective and for decades nobody changed it because they were too lazy or didnt want to do it or didnt understand it. For years it was defective. Not going to be defective anymore. To protect our country from terrorism, we will suspend immigration from regions where it cannot be safely processed or vetted. [cheers] we have people coming into our country by the thousands, thousands and thousands of people, and now i dont have to campaign, so i dont have to say and hillary is going to increase it by 550 . I dont have to say it anymore. Isnt it nice . Isnt it nice . No, i dont have to say it anymore, but think of it, we have people coming in by the tens of thousands and, look, folks, we have enough problems, we have enough problems. We cant do. This were going to build safe zones. Well have certain areas, the gulf states, tremendous amounts of money thank you, darling. I love her too, but i get trouble if i say that. [laughter] but were going to have people from the gulf states, the gulf states themselves are going pay for it. They have nothing but money, theyre not doing what theyre supposed to be doing and fine, theyre going to pay for it. Were not going to, we owe 20 trillion. We want to make homes for these people, its a tragedy, its a migration. Im not running for office of the isnt it nice to say were not running for office. I dont have to go through all the reasons. The fact is its a human tragedy and were going to help it. That doesnt mean were going to allow people to come into our country, some of whom have evil intentions, and you see in ohio state, i was there the other day and great people. The damage done by one person. You look at so many places, San Bernardino and look at the world trade center, look at what happened in orlando, such evil spirit, evil intention. We have other problems, we have to solve many, many problems, and weve spent now 6 trillion in the middle east. Think of it. 6 trillion. We got nothing, you know what we have . Nothing. He says what do we get out of it. Nothing. You know what we got out of it . Death. We got destruction. We have all this money that we owe. The whole thing is crazy. We have to stop isis, we have to knock them out. No choice. Well do that. Ill say general mad dog mattis [ cheers ] hes great, hes great. Hes a great guy. Hes a great guy, and we have another great person going to be, a lot of them, but in terms of what were talking about, next week, somebody youre going to have tremendous respect for. A trump adminiration will always put the safety and security of the American People first. [cheers]. Ethics reform will be a crucial part of our 100 day plan as well. Were going to drain the swamp of corruption in washington, d. C. [ cheers ] drain the swamp. Drain the swamp drain the swamp thank you. It always amazes me, were here on a friday, and crazy time of the day, how many people show up for these things, right . Thats when i knew. People asked when did you know . You know, i was campaigning we had the big crowds. Last month was massive, taking stadiums, they were packing them in. When they had to hire entertainment because people i said i dont know if that means anything but i thit does, and then we won pennsylvania and we won michigan, we won wisconsin, all these different places. Its a beautiful thing to see. I will say. The spirit of what weve all done together is incredible, and youll see thank you. And youll see a lot of things happen. Lot of it is common sense to be honest with you. A lot of it is common sense. A lot of people that voted, they lot of country but havent voted in 20 years, 30 years. Boy, did they vote. Boy, did they vote. Theyre coming in here, people that have never voted in some cases and yet theyre great people and theyre hard working, but they never saw the person they want to vote, and now they come down they have trump shirts, trump hats, buttons off the hats, they go from never voting to being all messed up with the stuff, right . [laughter] but you know what . These are amazing people. I remember, i got a little glimpse i had the long early voting in florida. So long, and so many things could go wrong when you have the long period of time, right . That long, long, long period. Used to be you have a day, you vote. Now you go forever, weeks and weeks, but the first day i passed one of these lines, i said whats happening over there . I thought it was like a big movie. They said, no, sir, thats voting. Theyre voting, and theyre voting like really early. And we have to discuss that early thing. So many things are going on. I wonder what happened during the evenings when the places are locked, right . But the democrats or the people would say donald trump is criticizing the foundations of our country. Give me a break. Give me a break. Give me a break. President obama who by the way, ive gotten along with so well. No, no, no. Hes really doing great. Hes been so nice. But eight years ago, eight years ago, he talked about in chicago, what goes on, okay . They dont talk about it anymore, and believe me, its only gotten worse, folks. Im going to impose a fiveyear ban on executive Branch Officials becoming lobbyists and lifetime ban on officials becoming lobbyists for a foreign government. [cheers] and i thought when i got involved in this boeing situation, and i have Great Respect for boeing, tremendous respect, i said the people that spend all this money when youre talking about 3 and 4 billion for an airplane. Who knows . But when youre talking about that kind of money. Who gives these orders out . There are procurement people. Some of the people then go to work for these companies. I think im going to have to check this out. Theyre not going to like me to say this. I think im going to impose a ban, that anybody who gives out massive military contracts should never be allowed to work, i dont mean in five or ten years, should never be allowed to work for those companies that make the equipment. Theyve given out those f35 bomber which is a fighter, that is totally, totally like uncontrollably overbudget, and the people that give out the contracts and the people that have to approve the big change orders and the extras, as we say in the real estate business, when youre good you dont build with the extras, but the massive numbers doubled and tripled. I think anybody that gives out these big contracts should never, ever be allowed to work for a defense company, for a company that makes that product. I dont know it. Makes sense to me. [cheers] because im sure its never happened. Im sure its never, ever happened in the history of our country. I could see somebody approving a deal they shouldnt approve and getting prior to that approval. This guy is a great businessman, hes shaking his head, absolutely. Wed love you to work for the company. Finish up the order, work for the company after its finished, how about next year, next month, get this finished and you get stuck with a horrible contract and the people go off, even if its two or five years, i dont think they should be allowed to work for these companies and if they take the job and know that, its fair, but ill bet you would see a big, big difference because the purchasing of this country is totally out of control. Not only military, for everything. I had that idea yesterday. I have little ideas, you get ideas when youre in business, but you get ideas as you go along, and i never saw numbers like this. The massive, the massive numbers of overreturns, cost overruns, theres no relationship to the original contract. I think it might be a lot more important than what were talking about with be lobbyists. Okay . Does that make sense to the Business People . [ cheers ] we face many challenges, this is truly an exciting time to be alive. Script is not written. We do not know what the page will read tomorrow except for the very young people. Theyre going to be happy, very, very happy, the young ones. Were going to be sure. I think if we had a different result they wouldnt be so happy. For the first time in a long time, what we do know is the pages will be authored by you. By all of us. [cheers] the American People will be in charge. Your voice, your desires, your hopes and aspirations will never fall on deaf ears and they were on deaf ears, you will be the captains of your destiny once more, together well raise incomes and incomes are going to go up and incomes are going to go up. You know we have this phony unemployment number, you go and quit, you go home to your wife or husband or your parents and they consider you statistically employed and say were down at 5 and 4. 9, nonsense. But we want incomes to go up and want to create millions and millions of new jobs, thats what were going to do. And we cant lose our companies. Cant lose our companies if were going to do that. We will lower taxes, unleash American Energy and bring thousands of new companies to our shores, we will reestablish the rule of law and appoint justices to the United States Supreme Court who will uphold and defend the constitution of our country. [cheers] and by the way, you know the nevertrumpers, theyre on a respirator right now, theyre gasping for air. [laughter] and many of them have been great, i used to, early on we had the never trump, never trump, i will never vote for trump. Some of those people are saying id only vote for trump. I love this guy. Its crazy. But they didnt know me. They didnt know. But i used to say if for no other reason, if like this character in utah, right . Who the hell was he . What happened to him . Remember hes going to win utah. He was a conservative. He said he is a conservative and hes going to win utah. What does it mean . Lets say it mattered a lot and i lost so that means that hillary would have gotten to appoint justices to the Supreme Court. Right . Im trying to figure out. Not only did he not win utah, he won in a massive land slade, though the press is saying were tied. He came in third place. I beat him. It was terrible, it was so destructive. I used to say if for no other reason, vote for me. If for mow other reason, its the United States Supreme Court, right . And justice scalia, who was great. I heard about two weeks ago, i heard his wife, unbelievable woman, and respected, she had signs, trump signs on her front lawn in washington or virginia. But she had trump signs, just like that one, trumppence. How good is pence by the way . [cheers] we are going to continue to monitor donald trump as he wraps up his speech in baton rouge, louisiana. 15, 20 minutes long, speaking right now. Mr. Trump saying hes going to reiterate what he said during the campaign, cut taxes but at e same time he will hammer corporations who outsource jobs and move jobs overseas. His appearance here in louisiana is all will more significant because republicans have a narrow 5248 majority in the senate. He is there to support the runoff race tomorrow with senator joe kennedy who faces off against democrat foster campbell. More urgent is something that happens tonight, 8 1 2 hours away. Less than 8 1 2 hours away from a possible Government Shutdown that the senate cannot pass the continuing resolution on the budget. Lets bring in somebody whos standing by live who has endured multiple budget showdowns in 30year career in the house and the senate. Former congressman and senator from north dakota, byron dorgan, great to see you, senator. Thank you. Liz weve been listening to this, very supportive of mr. Kennedy, doesnt seem mr. Kennedy needs too much help. Let me get your thoughts first on what happens in just a few hours if the senate cannot get this budget showdown compromiseed . You know what . This is not unusual, you come to the end of theed session which is where they are now, the end of a legislative session and the last remaining issue is funding the government, has things the one side wants to put in, insists on putting in. The other side will not accept it. Its like playing poker except people are not together. Its Business Leaders back and forth, whos bluffing and whos going to blink . So i dont think, frankly, theres going to be a shutdown. Maybe a few hours over the weekend but the fact is both sides want to resist a Government Shutdown because we had a Government Shutdown and the American People are getting pretty upset and onery about politicians that create a Government Shutdown ithink this is midnight madness that goes on every time we come to the end of a session. Liz you dont sound too concerned. We have a bloc of senators, from coalmining states, Heidi Heitkamp of your state, as you look at what they want, they want continuing health care to be extended for more than a year for retired miners. Now donald trump really put a stake in the ground supporting coal miners. Dont the republican senators have to be careful that they dont look appear to be doing the opposite. Its not in their hearts, if they dont extend the give the democrats what they want on extended Health Care Benefits for miners do, they not risk of bad optics there . There is risk there, this is easy to fix. The republicans put in a fourmonth extension of the health benefits. The democrats said they want a year, thats fair to the coal miners. The republ substitute one year for four months, thats not a big deal. I mean, again, this is sort of trying to figure out who blinks but i think republicans should do, especially given what donald trump did on the campaig in coal mining states, i think republicans should do what democrats have asked. It is right thing to do. Right thing in terms of what donald trump was preaching just months ago. Liz were eight hours away from midnight budget showdown. Youve seen these before. Thank you very much, senator dorgan. Thank you. Liz senator byron dorgan from north dakota. What we saw amplification of a daylong rally. Dow was up 139, were up 132 points before we go before the closing bell this hour. What should you do with all of this going on. No better person to bring in, fox business exclusive, the man who made very top of the list, number one barrons smartest investment Financial Advisors. Andrew chase of Morgan Stanley wealth management. What are you doing right now . You have four minutes before the closing bell. What are you doing for your client, andrew . I think the markets going higher. I call myself a relative bull in here. Personally talking about the fed for a second, i think the fed will raise rates but i dont think you will see longerterm rates going up. Longterm rates, five, 10year treasurys, five, 10year mortgages will stay flat to down for a long time. I just dont see the world really inflating. I was listening to earlier comment. President elect trump was doing this and other thing i think growth will be challenging globally and in the u. S. They will do the best they can. Against that backdrop of slow growth, we have very reasonable valuations here in the market. 16, 17 times is normal average multiple but what people keep forgetting Interest Rates are 2 1 2 in the United States and that is unheard of. I dont think they will really creep up. It creeps up Mortgage Rates and that slows down housing. I think market will have a really good run. Not many people are saying that. Liz we can put up the 10year to see what treasurys are doing, as we keep one eye closely locked in on the dow, nasdaq, s p, these are all lifetime highs, folks. Andrew, what do you do . You made the very top of the Financial Advisor list for barrons. You have some lightning in a bottle for your clients. What do you see time to add to a portfolio right now . Oh, i think it is very easy to add health care which has been beaten down. Theyre trading cheaper than electric utilities. They got kind of sucked into the political process. I think innuendo of price controls ultimately beat them down. I find it ironic they are trading cheaper than telecom and utilities regulated for last 30 years. Theyre much;h rqp er than 20 year averages in terms of multiples. Banking stocks, theyre still at cheap multiples, 10 or 12 times earnings, even after this recovery theyre still at 10, 12 times earnings. You will see them start to creep higher personally. That is obvious thing to go long in the market. The market will continue to lift gradually. People forget how many new highs are hit in real estate and art and other asset classes. Interest rates going down has a way inflating asset prices. It is starting in equities. Liz were coming up to the closing bell, anything keep you up at night andrew, as the closing bell rings with the dow up 135 . I think its a little bit of a mistake to chase after some of the defense, the oil, the infrastructure. I think thats a little bit of a scary trade for me, talking about trading next few years. It is always harder to get people to agree to spend money than remove legislation. [closing bell rings] i would be careful there. Other than that i think the market is going higher. Liz join us again. Andrew chase, Morgan Stanley private wealth management, the 20 billiondollar man. 141, highs of david and melissa for the Dow Jones Industrials. David i kind of miss the confetti. Melissa talk of jobs and trade from president elect donald trump pushed markets to new record highs. What a week it has been. The dow is now look at that, less than 300 point away from 20,000. Im melissa francis. David it is settling to the upside. Might get to 150. Im david asman. This is after the bell. Happy friday. We have big Market Movers but here is what else were having going on. Donald trump just wrapping up a