Transcripts For FBC Countdown To The Closing Bell With Liz C

FBC Countdown To The Closing Bell With Liz Claman June 22, 2024

As they put it, solid job gains. The gains you see with your money and your portfolio hold in this final hour . Got to watch your money on count down. A massive data breach, united airlines, americas second biggest carrier was indeed the target of hackers who made off with personal data of millions of you flyers with secret travel manifests. United hackers linked to chinese hackers kissel personal information for millions of anthem healthcare members and from the u. S. Government humanresources database. The biggest government reach in history and not just chinese hackers creating a very weakened national defense. Fox business exclusively reporting twitter is now the favorite recruiting tool of the islamic state. The fbi director wants twitter to pay a larger role in monitoring terrorist activity. Will it . At this hour of the social media signing the not. No decent user growth to speak of. The cybersecurity corp. The frontline of the battle for National Security is america already losing the cyberwar . Less than an hour from the closing bell, start the countdown. Breaking news, we have 58 minutes to go before the closing bell rings and we have a story the goes beyond a Simple Technology story. The internet of everything. Your phones, finis kerrimac cecil alarm systems are putting americas National Security at risk as Corporate Responsibility is increasingly linked to national defense. Twitter is the latest target. Fbi director james comey regulated efforts to identify and report accounts linked to terror. The fbi telling fox business exclusively that twitter must do more. What is twitter doing and not doing enough of to stop terrorists from using its site to recruit and carry out violent acts . A fox business exclusive, morgan right, and with us fox news military analyst bob scales and the president of the Financial Research firm whispersnumber. Com. Twitter missed the whisper number john had put in, stock is getting hammered today. Does twitter have to do anything . Yes they do. They may not do something now but when you go back and look at the attacks in garland, texas and the other attacks they are using this not only as a Communications Channel better recruitment channel and dissemination channel and you go back and take a look at the hacks, they went after twitter and youtube. We have given a Rocket Launcher to people who used to have a slingshot. It is a huge propaganda tool and a way to stay relevant in the conversation every minute of every day. It does give the mobile coin. Ted kosinski use to write letters to leaders, ways to use facebook over the years. Every time they shutdown a site and one starts. It is asymmetry when it comes to the internet. The fbi cant break into twitter. Isis goes into dark closets and innocent people like me have had the point sold to china. I with filling out a clear and uptodate and i bought holy cow, look at the stuff that is almost 330 pages, think of that going to joy and and think of the impact it has on me and my family and my government, cant read twitters account, lists of what i say but they are more unhappy to give up on my personal information and put my life and the life of my family at risk. This is outrageous. Liz we did not overstated, we appear to be losing at least for now the cybersecurity war. You start to look at the cybersecurity stocks, jumping from 20 to 46 . They are jumping higher than that. We are seeing in the financial world how this relates. The Big Companies want to do everything they can. Microsoft came out, there is news they will buy a Cybersecurity Firm out of israel, other companies doing as much as they can, in house cybersecurity purchasing outside firms, at the same time we are seeing Cybersecurity Firms, Companies Like check. Software, the largest one out there. They are seeing tremendous growth upwards of 58 yeartodate, some over the past year and it is the conundrum which companies will survive and which will increase revenue. All of them are crashing earnings and that is what we are tracking, keeping an eye on our Earnings Growth is going and how these Companies Grow Going Forward. Liz lot of viewers are interested in the angle, the concern that the Major General has and that is oh my gosh, we already saw all the Personnel Data stolen from the u. S. Government, i dont mean to interrupt but majorgeneral, tell me what theyre asking you . You got to mention your familys names, top security people, you correct . I happen to be looking at the screen when your broker called me, it is 338 pages of extremely sensitive data, i started rolling through the form and thought to myself wholly crap, do you mean this stuff is now sitting in front of some cyberhacker in beijing . Does it make you not want to fill it out . What choice have i got . The onus is on me for not filling it out and yet the i t structure in the American Government is so bad and their ability to defend against hackers is so amateurish that i have to sense that is in as they hit the send button it skips into the opm computers and winds up in beijing. The general and i were talking, i am another victim of the data breach. The family visits from pakistan and colombia, things you dont want anybody to know, what it goes back to, theres so much intelligence, talking about companies, semantic, Threat Intelligence covers more than anybody else, there are million new threat today being introduced, we are not doing anything to countered this stuff so it is right for the fbi told corporations accountable whether it is facebook or twitter, you name it. We have to get serious about cybersecurity, we are great on offense, stink on defense. Maria liz i agree with that. Morgan right is senior fellow at Digital Government along with general bob scales. Our military analyst. And john scherer will hang on with us because we have a rocking our reviewer already. What that the genes the markets are making with closing bell 52 minutes away. We are also talking about this. Growth yesterday tampering, withholding evidence, destruction of a cellphones that may have held secrets . Not the crime of this century but there are shocking new details in the deflategate football case. The tree its mvp Quarterback Tom Brady now playing defense. Can he win at that part of the game, live report straight ahead. Higher Interest Rates not so terrifying, look at the markets, the dow was up 425 points. Even the transports, a huge gain of 1. 5 . We have clues about the vets plan for a solid and job gains. Put together, translating janet yellen speak with a man who knows joy language best. That is next. Her language best. That is next. With the closing bell 40 minutes away, shares of buffalo wild wings, they are rallying out a better than expected results, strong samestore sales growth. We look at these stocks helping boost stocks to their competitors. Panera and chipotle are hitting lifetime highs. Those are two names, many of you know some of you loaned that are hitting lifetime highs. No fear might be the note slogan 14 federal reserve, the markets are falling in line on that one. We have a rally on our hands and this happened after the fed, voting unanimously to keep rates at zero to 1 4 , made it plain we were on track for a tightening in september. Let me bring in peter barnes who brought the announcement in. Could it be the markets are finally ready and believing this is inevitable . Peter i think they are. You say no fear, the fed strategy is no surprises. It wants to telegraphed very clearly rate increases are coming and it moved that way as we parse these statements, one reporter we notice is the fed described the Labour Market as having a solid job gains, definitely an upgrade from the june statement when it said job gains havent picked up. The fed liked what it was seeing Going Forward in the labor markets, Unemployment Rate is down 5. 3 and it has said it doesnt have to get inflation back, to move, so definitely left at the door open to a september rate hike. Liz yesterday ward mccarthy said i am a december guy but everybody seems to say september. September, could be december. They do say it is dated dependent and a lot of data comes in from now to september. That is what we are watching. Liz is important to point out the markets are fine with this over and over repeated hint that it would be september. Should you mark your september calendar . The wall street journals Jon Hilsenrath has priced every word out of the fed and is ready to translate. Best guess september. I am not going to say they are clearly signaling september. What they set themselves up for is what i described in the story is a cliffhanger debate at sept. They could go in september but they have a problem on their hands we need to talk about, they are seeing a lot of progress on the job side of but economy and that has been an important factor, they signaled all this progress in the statement clearly today but inflation which they want to get back to 2 is not budging, not responding to any economy growing at a moderate pace, it is not responding to fallen unemployment and that gives them we sate this over and over, they are data dependent. Whether they move in september will depend on numbers we get over the next couple months. Will we see more solid job gains, more gains in the job market and are we going to see any hint that inflation is budging . It is facing renewed downward pressure because oil prices are falling . Liz for people who just tuned in and we are looking at what we are rotating through the screen, the drop down on the lower corner on the far right, this is what janet yellen said, no change in rates right now but the job market looks to be upgrading. Economic activity expanding moderately, solid job gains. Looking at all that may happen here. The fed has almost been the most since i watched the fed more like an open book saying this year, but did chinas Economic Issues throw a wrench into what is happening because we wonder if that weakness spreads here will it slow things down . That throws a wrench on the inflation front because china is slowing so much putting renewed downward pressure on Commodity Prices and upward pressure on the dollar, all those factors hold down inflation in the u. S. The fed has been willing to say for most of the year that these are temporary transitory factors and inflation will start by early next year moving towards 2 but they took out a phrase in their statements that the last time they met, noting Energy Prices stabilized. And watching carefully inflation development. And inflation is too low. Septembers a possibility as we get jobs reports that is not a done deal. Liz i believe you definitely and oil is below 49 a barrel. We have not seen stabilization with the prices. We saw a big build on inventories, thank you very much, Jon Hilsenrath, wall street journals economics correspondent, fox business contributor. On a day like this as markets jump he clarified part of the reason. The closing bell 42 minutes away. Donald trump is sitting across the polls with just a week until the first republican president ial candidates debate but the latest poll out of the Sunshine State leading the gop and two contenders watching rain clouds form over is them and their home state. Merrill lynch brokers outrage today about new Company Rules that could cost them a pretty penny. What happened there . Charlie gasparino coming down next on countdown. When a moment spontaneously turns romantic, why pause to take a pill . And why stop what youre doing to find a bathroom . With cialis for daily use, you dont have to plan around either. Its the only daily tablet approved to treat erectile dysfunction so you can be Ready Anytime the moment is right. Plus cialis treats the frustrating urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. 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That is the subject of several investigations going on, the Senate Finance Committee Reports in the next week to weeks, that has been a subject of their investigation and making that determination. I have not made a separate investigation. House republicans giving president obama an ultimatum, fire mr. Koskinen or they will impeach him. The head of the Oversight Committee said the irs commissioner has obstructed the investigation. This is all continuing to play out and we will follow it for you. Get to brokers at Merrill Lynch. The temperature today is up 100 degrees in new york city. At Merrill Lynch it is 150 degrees. They are up in arms and furious and hardheaded following a controversial new work rules that the firm. Fox business your correspondent Charlie Gasparino breaking it here. Merrill lynch is the secondlargest brokerage firm, basically the firm that created the modern brokerage business meaning people that bring stocks to the small investor. An investor and brokers are threading to leave because of this, they are being forced to hand over an Investment Banking league to Merrill Lynch dont buy banc of america, investment bankers. If you dont do that you get docked pay, as they shave it percentage. With the mean an investment lead . Of roker, one of your clients runs a Small Business, wants to do financing or whatever or made do financing, call up the bank of america investment banker, and joe blow on the flower shop, go call him and pester him to get some business and that is why brokers are going nuts. There is a lot to get mad at with Merrill Lynch, as they have john field, the head of this thing, the guy who needs to make the brokers drink week grass and in hail in sense during brokers meetings, do yoga and breathing exercises, you fall back and people catch you, i think they did Something Like that. Fall back and five guys, trust fall, that is it. They were playing bongos during the brokerage meetings. The new Incentive Plan to crank out earnings at bank of america, bank of america has been it is real link right now. Liz it is synergy at some companies. I have clients, i dont want some investment banker pestering them. Would you like to take out a loan . I go to the chase, my chase branch here and the guy was getting the a new debit card but i was on line three times longer because he was saying you want to do this or that . Finally i said give me my card. Here is the thing, these brokers cultivate these clients for many years, handing over a guy they dont know or a woman they dont know and is causing consternation inside Merrill Lynch. Here is the thing, Merrill Lynch got bought by bank of america in 2007, 2008 during the financial crisis. They had to pay a lot of money because Merrill Lynch had bad debt on its balance sheet, the brokerage unit made bank of america a ton of money to keep those brokers there, give them seven your packages, forgivable loan that is forgiven after seven years, seven years is almost up and a lot of people will bolt once they get their final payment. Leica upfront bonus and get their money and walk out. Unless they change the policy which i dont see Brian Moynihan doing so that is where we are. Big problems in Merrill Lynch at the top and the brokerage. Thank you very much, good to see you. He did not run out side today. It was 85 to 90, three times around the reservoir and it was killing me. I am in pretty good shape. This weather is nasty, three times worse now. Liz i limped monday. Does that count . Closing bell ringing in 33 minutes. Tom brady denying any guilt in the deflategate controversy. Leave him alone. Hes a Great Quarterback with a gorgeous wife. Liz why did he please lichees vowing to fight but could there be blow back from the enduring controversy . We have a live report on this straight ahead. Please dont go away and john boehner fighting off a bizarre and shocking possible mutiny that popped up today just as the house prepares to head out for summer recess. Political panel is going to tell you what happens, put John Boehners leadership in the cross hairs, we will talk about this and what is happening on countdown coming

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