Transcripts For FBC After The Bell 20170515 : vimarsana.com

FBC After The Bell May 15, 2017

Out. What a senior white house official is telling fox now. Suspicious story. The u. S. Vowing to tighten the screws as north korea test as missile they claim is capable of carrying a Nuclear Warhead. Well examine the latest thread coming up. David back to these markets, shares of record markets. Shares of johnson johnson, cisco and caterpillar driving the dow higher. Oil adding fuel to the rally as well. Phil flynn watching action from the cme in chicago. First to Ashley Webster on the floor of the New York Stock Exchange where the tech titans are just unbelievable. It is going through the roof look at even though amazon ended down, my god, 957 a share . Ashley they hit highs every session it appears. Record highs, david, intraday highs at least. As you say, apple, amazon, Alphabet Google same story with netflix. These are the drivers. This is pushing nasdaq to record high or record closing i should say. 32nd record close for the year becoming hohum. S p finishing in record territory by three points but a record nevertheless. All very impressive. Apple, amazon, google, netflix, yeah, alibaba that is a new high getting lions share of the new money. I want to talk about the cybersecurity stocks. Weve been following these all day in the wake of the big cyberattack around the world. Not surprisingly these stocks have been moving higher. Check out fireeye up 7 1 2 . Proofpoint. Cyren, 2. 30 stock, nevertheless getting new business because of the hacks. Homebuilders moving higher. The latest National Association of homebuilders sentiment out. That gauge higher than expected. New Construction Builders believe there is such tight inventory for existing homes, new building will be in demand. Because of that we see homebuilders rallying very nicely. Oil finishing up 2 . Also a nice boost on energy companies. All in all pretty good day for trading. Melissa ashley, thank you for that. Go to our man in the pits, phil. Oil jumping this afternoon to close at twoweek high. What is fueling this rally . See what i did there, phil . It is beautiful rally, whatever it takes thats right. Russia, saudi arabia basically came out and had their mario draghi moment overnight, said they will do whatever it takes to get the market in balance. They commit todd extending production cuts First Quarter this year into march of next year. That really got this market boeing but they may have to do even more than that to get this market in balance. We pulled off the highs later in the session after the Energy Information administration raised once again the output for u. S. Shale. They will raise it in may. Raise it in june. Overall production could hit 10 Million Barrels a day in august. Back to you. Melissa phil, thank you. David as ashley mentioned earlier, tech giants are on a tape with the nasdaq hitting alltime high. As amazon celebrates its 20th year as Publiclytraded Company debuting 18 bucks a share. From the original ipo price would be worth 600,000. We have fox news contributor, steve court terse and liz peek from the fiscal times. Steve, the stock was down a little bit. Hit the high early in the morning and settled down a little bit. Over the years, this stock is extraordinary. Would i argue the reason it is extraordinary since the election because of a man named donald trump. Donald trump has convinced the market that the government is doing to get out of internet, not get further into the internet. There was all this stuff going on. They had all kinds of fancy names for it but the bottom line during the Obama Administration was government interference in the internet. That is not going to happen with donald trump. That is good for amazon. David i think youre exactly right. By the way i wish i bought the stock at 18. David we all do. Ironic in Silicon Valley President Trump is not very popular. Probably one of the a lot of popular places in america as a matter of fact for President Trump. Yet he has been wonderful for Silicon Valley and wonderful for American Business overall, certainly for american investors. The optimism right now out in the economy, not just in the stock market but also in the real economy is palpable. The belief we can really grow again. In the decade of slow growth weve endured not worthy of as you as a country or not worthy of our political system. We can do better and will do better. The proof is in the pudding. Look what markets are doing and surveys are doing. David what got amazon started because of internet was convenient and there wasnt any taxes. Now we have the local state taxes in the internet various ways to get you, manage to get something on the internet without taxes it makes you feel like you made your day. If the Government Debt gets out even more that will spawn more amazons, dont you you . I think amazon has grown formidablely by innovation and incredible management ideas and were not done. There are incredible number of markets amazon can still go into an dominate. Whether it is finance. Theyre talking about becoming a lender, for heavens sakes, transportation, all kind of things amazon has in its future. That is why the stock is up so much, a very favorable trump inspired background in the market, no question about it. As far as the tax issue for amazon ive been on the side, people buying on amazon should pay state and local taxes. Melissa oh, boo, boo okay. But guess what . The states and cities need those taxes. It really isnt fair for a company to take advantage of a loophole. David they dont need the taxes anymore than you should see way theyre wasting my money right now. We can argue, talking about that they will get them some way, folks. Melissa thats true. The mother of all cyber attacks. Government agencies on high alert after the spread of a global hack attack that impacted at least 150 countries. Hackers demanding ransom to bring infected computers back to normal, as experts fear it could spread even further. Fox businesss Tracee Carrasco is live in the newsroom with latest on this one. Tracee tell us what you know . Reporter an impressive stat according to the fbi, cost to corporations infected with ransomware ballooned to one billion dollars in 2016. It has been a big day for cybersecurity stocks on the heels of fridays attack. That affected 10050 countries and nearly 300,000 systems. Investors anticipate growing demand for online security. Companies around the world brace for future attacks. One of those companies, mcafee, ceo Christopher Young sent me the thoughts on global hack. The problem we see in Security Companies take the lack of an attack on their company, meaning they have a good defense. As a result, not much emphasis is placed on urgency patching their systems to prevent future attacks. Ransomware appears to exploit a vulnerability in Microsoft Windows reportedly identified by the u. S. National Security Agency and later leaked into the internet. Microsoft president brad smith placing some blame on the government. He said in a blog post, this attack provides another example why stockpiling of vulnerabilities by governments is such a problem of the hackers demanding 300 to 600 in digital currency, bitcoin. Homeland security advisor tom bossert says so far they havent gotten much from their victims. Appears that less than 70,000 has been paid in ransoms. Were not aware if payments led to any data recovery. Reporter intelligence and Law Enforcement officials that may foreshadow a wave of similarly damaging attacks as copycat criminals try to make use of digital weapons. Melissa tracee, thank you for that. Here is morgan write, cybersecurity analyst and center for Digital Government senior fellow. We learned interesting things in the presser this afternoon. Number one, that some people actually paid out, they said they collected about 70,000 but that no one who paid money got any of their data back or anything they had been promised. That money was down the drain. Does that sound right to you . It doesnt surprise me either. These folks that did this, you dont have to be clever anymore. You have to have access to bunch of software and internet connection. Thats what they did. The bad part they werent that sophisticated. The that is the good part. They werent that sophisticated and bad part look how the impact had. It will get worse. People may pay out or not pay out. If you dont have good backup of your data, dont understand your employees shouldnt click links, will be irrelevant whether you pay it or not, you will lose the data. Melissa heard anger that the nsa discovered this vulnerability, what was the rest of that from there . Tell me that story. There is a responsible Disclosure Program which says the government says if we find some things like these zero day exploits where there is no defense against theyre supposed to disclose it, except for and there are a bunch of whereases and therefores ways around it. It should not come to a shock that our government is stockpiling this. As we see from the global map, countries we have ad verl zale relationships with and targets nsa and intelligence collection efforts are running Microsoft Windows. It shouldnt come as a shock were targeting these systems. Average person, morgan, install all the updates and all the patches. Absolutely. Melissa dont click on any fishy links, back up your stuff. Did i say it right . What am i missing . You got it. These folk dont put out security updates as suggestion. Theyre required. So install them. Second of all, up to you, if youre watching this, dont quick clicking these things. This is how it spread. They said theyre worried about a second wave . Why are they worried about a second wave, people opening up email and seeing phishing and spear phishing attacks, clicking up the link and back up your data. Back it up. Melissa next thing you get a link, Security Patch or link and that is actually the virus. How do you avoid that . One simple trick. See this on most browsers or emails, hover your mouse, pointer of the mouse over the link see what it shows up. I could send a link, says foxbusiness. Com would point to north korea. I would make it do anything i want. Look past the link and look, when in doubt, type it in yourself. Go to microsoft. Com or apple. Com download it from a trusts source. Melissa great advice, morgan. Thank you for that. Great advice. Very valuable. David two great bits of advice. Cyberattackers involved in the Ransomware Attacks relied on bitcoin as currency of exchange, something may lead to a serious dent in bitcoins value. It dropped 200 bucks today. Steve, bitcoin is wonderful example of invention on the Free Internet market but there are serious concerns by Treasury Department officials and other Law Enforcement officials about Money Laundering and bitcoin is a perfect vehicle for Money Laundering, right . Right. I think it is. Reminds me a little bit of the stuff we used to read about silk road. We have to be careful as investors anyway to put too much credence in bitcoin. I love innovation. Youre exactly right i love the idea of alternative currency. I also believe, maybe im old school, ultimately a currency has to be backed up by a system of laws and ultimately by military. Reserve currency of the world defaults to the strongest military. Used to be the british pound for centuries. Now United States dollar. Bitcoin doesnt have that. It still exists to some degree in wild west of finance of the i dont think it will become a true competitor to the dollar or euro, et cetera. Melissa back to the agenda, the house ways and Means Committee set so hold a major hearing what sweeping progrowth tax reform will look like. Liz what do you think about this . We want this to turn out well, right . The country is ready, markets are ready, investors are ready for a good tax reform program. This is the linchpin of trump agenda. We all knew why Health Care Reform had to go first but time to roll out what they really want in the way of tax changes. We know the gist of it. But mnuchin will be on the griddle accused by democrats of simply looking for tax cuts for the wealthy, et cetera. They have to make this appealing. They have to sell this to middle america. And explain why simplifying our tax code which should by the way please everybody, and also repatriating money from u. S. Corporations that are Holding Money overseas all make sense and will all lead to job creation. I think it will. I hope mnuchin can make that case. Melissa liz, steve, thanks to both of you. Thank you. David another black eye for united airlines. The carrier confirming a big mistake one Flight Attendant made putting pilots and passengers at risk. Melissa its a doozy. You have to hear that one. Showdown in seattle. President trumps revised travel ban back in court. Federal judges hearing case was randomly selected. They had all one thing in common and doesnt look good for the white house. David could key members of the trump team be on their way out or media makebelieve story. What a senior white house official is now telling fox. The president getting to decide his staff, no one else does. These folks are doing incredibly hard and difficult job 24 hours a day, seven days a week for the american people. Dear predictable, theres no other way to say this. Its over. 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On this side, i want my customers to relax and enjoy themselves. But these days its phones before forks. They want wifi out here. But behind that door, i need a private connection for my business. Wifi pro from comcast business. Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. The shlike a bald penguin. How do i look . [ laughing ] show me the Billboard Music awards. Show me top artist. Show me the top hot 100 artist. They give awards for being hot and 100 years old . Well take 2 [ laughing ] xfinity x1 gives you exclusive access to the best of the Billboard Music awards just by using your voice. The Billboard Music awards. Sunday, may 21st eight seven central only on abc. David we have breaking news, learjet 35 airplane, crashing outside of Teterboro Airport in new jersey just moments ago. The aircraft went down quarter of a mile from the airport in residential area as it was headed to new jersey from Philadelphia International airport. The faa is on the way to the scene. Well bring you the latest on this story. Teeterboro just outside of manhattan of the big story for us here in the new york metropolitan area. Melissa. Melissa huge reboot of fake news according to the Trump White House. Firing back at reports of a shakeup on the president s team and Standing Firm there is no need after special prosecutor on russia. Blake burman at the white house with all the details. Blake. Reporter Senior Administration officials push back on nonstop reporting a major shakeup at the white house is in the the works. One source going as far to tell my colleague john roberts it is nonsense. However sources also say that the chief of staff, Reince Priebus might be back on the bubble again. An adjustment to the Communications Shop is likely. As it relates to the comm shop, press Secretary Sean Spicer was peppered with questions as it relates to the tweet on friday regarding the president , jim comey and possible tapes of their conversations. Spicer once again would not elaborate on what all of that meant. Why wont you just explain whether or not there are recordings of i think president made it clear what his position is. That is not the question that is what the president s position. Refusing to confirm or deny, how does any senior official feel comfortable having a conversation. The president made clear what his position is. Reporter spicer made the argument that comey didnt have the leadership skills to leave the crown jewel of Law Enforcement in the fbi. As it relates to comeys replacement, melissa. Eight candidates were interviewed at department of justice oaf the weekend that list continues to get bit tilled down. Meli

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