Liz counts down to the countdown. Casino resorts placing bets around the world, but for a different end . Mgm ceo live on earnings and placing bets on the next frontier. The business of billboards. From these old signs to the digital billboards. The Transformation Plan exclusively, Clear Channel ceo. And pain at the pump equals revenue at the refineries as gas prices rise 33 days in a row, should you be rushing to refinery stocks . Countdown to the closing bell starts right now. Liz kvetch then, everybody, i am liz claman. The last hour of trading and the dow has taken a leg down. This after the fed minutes came out and has become a question of when, no longer if, they will stop all the quantitative easing it has been doing. Stocks are dropping pretty precipitously. Talking to ashley and tracy, it just happened in about the last eight minutes. The market dropping rather dramatically. We have the nasdaq down 34, a big percentage drop, and the s p down 13. This after the release of the fed statement. So what was in the january meeting . When are the feds largescale asset purchases going to end . More and more members are getting concerned about continued qe undermining stability in some way, shape or form, that is what you have. Trish is not initially much reaction. The yield fell about onetenth of 1 . Now falling one basis point. Down about 2 . Lets take a look at currency. A dollar that is up sharply against the euro doing pretty well before the fed minutes but now the euro plummeting at 1. 32. 81. What does that mean . Commodities that are measured in dollars, you see the big fall. Gold was down 46, so it is a very tentative date for gold, the fed minutes not helping at all. Drop into another sixmonth low. The weakness due in part to the stronger dollar but other parts of the equation, speculation a big Commodity Fund has liquidated its position. No matter what the root causes, silver is getting swept taking it on the chin. Silver moving down by 3. 5 , copper has not hit, down 1 . Lets take a look as we see oil selling pressure, crude is down for a couple of other reasons. There is chatter about a different fund unrelated to gold ahead of expiration of the march features content, saudi arabia boost in Oil Production bringing up supply, down demand, looking at the Worlds Largest supplier of oil for the moment the u. S. May trump them eventually. Major weakness in gold. We now have equities down pretty much the lows of the session. I am pulling up the dow chart, still a few names that tend to look a little bit weak at the moment. Bank of america, caterpillar down, but what is going on that would cause a 60point is lost . On top of all the things you mentioned, you have to sequester on the first of march and the market now up 7 . So i think probably taking money off the table anyway with all these negative things on top of it and this is what youre getting. We were very surprised the market was going up as well but had been most of the day. In the last few minutes the market has come in a nothing we didnt already know. Liz there is the belief that initially there is the first wave of what is happening with the fed minutes, and then it climbed back up, able to get down to about 12 points, 14point and now 92 points to the downside. It is continuing to get a little worse minute by minute. And it will probably continue to do so. We have the fed hinting they might take it away. The economy is doing better than i should be good for stocks, new money to stop the slide, or things continue to get worse and we see we need more qe, that is good for stocks, stocks will go up again. Both scenarios will tell you we need fresh money or bottom pickers coming to the market when normally they would be much bigger but they will be muted because the cash coming in for cheaper buying opportunities. Liz as we continue to watch the major indices, lets go to mike, that was so oil falling more than 2 obviously a stronger dollar today, that has to have something to do with it. How much does the output plane to this . I dont have much to do with the saudis thing. The rumors of somebody going out there and liquidated. I started around 11 00 this morning a stop order traded and the market froze up about 10 seconds, so i think it has more to do with a panic, everybody getting out of the commodity space. It was a fun liquidation. Liz if they feel they want to take some money off the table, is that what were talking about, or is somebody in trouble . Somebody is in trouble. When there is blood in the water, you know what tends to happen. Really came off hard. A little bit more to do with the saudi output in the background. Somebody being in trouble and liquidating it in a position. Liz we had all green on the screen, and now we are down 101 points. I want to say in about 14 minutes because as i said, tracy and ashley said it had just happened in the last couple of minutes so once again what do you expect . Do you see what scott said might have happened where we start to see some bottom feeders coming in here . I would hope so. The market is up 7 in six weeks, that is a pretty big move. I can very well see people getting a little bit nervous if there are rumors of people getting in trouble and bad news on the economy and potentially the sequester ahead of us wish could drastically affect the jobs market. I think it might be very prudent for some people to think they should be taking money off the table. Liz good advice. We are keeping our eye on this because suddenly we saw some acceleration of losses with all the major indices. We will be watching this everything a second before the closing bell rings. If you reversed its two yesterday, all it took was one single report to bring casino stocks down. Worries the gambling mecca may not be pulling in the revenue should in the month of february. The real story from the Worlds Largest casino operator on the Las Vegas Strip with a big toehold in that eg big mecca. Mcm. It widened the loss to 2. 50 per share. The stock before the big move an entry chart was moving higher and as you can see the whole market fell off a cliff, so did mgm stock moving lower. First on fox business, and jim resorts International Chairman and ceo, good to see you. Thank you for having me. Liz you were up before the market took a big dip in the last 17 minutes. Lets count whats happening and get it out of the picture for a moment as to why we saw a wider than expected loss for your earnings. The loss was result of nine cash charges because we refinanced our debt last year and so that really wasnt what the analysts looked at. They focus on the operating trends which were above the consensus in las vegas and around the country, that is why the stock was up before the market selloff. Liz do you expect stronger numbers Going Forward because of a onetime situation . I do. The economy is getting better. Las vegas certainly getting better. We had an unbelievably strong super bowl weekend, a great Chinese New Year is going on right now, the year of the snake and we are very happy about that right now. And we are seeing improvement in all of our properties here in the u. S. And certainly just finished another record year. Liz i want to stick with las vegas for one moment. Everybody is wondering, certainly analysts, are we through the attempt to recover, are we through the recovery or are we still in the process . I think we can close the chapter on the recovering from the recession and i move on to the fact we are firmly underway with growth again. My competitors are seeing it, we are seeing it, we are having a good First Quarter so far, tremendous calendar for the second quarter, i predict profits will be up in las vegas for everybody and i think we will do better than most given our dominant position. I would have to say we will see higher revenues, improved margins particularly in las vegas for us, higher profits and yes, fortunately we are doing much better today. Liz i think steve wynn is thrilled you are speaking for everybody sang it is getting better. It was worth the revenue is not what it should be for the current numbers in the revenue disappointed coming in under 2 billion for the latest month. What do you say to that . Our volumes were bought with the expected them to be in terms of our massmarket and were still the Market Leader in slots revenue, and my comments in las vegas are the same, Chinese New Year is very favorable for us and the market in macau and were awfully good start in the First Quarter. Liz now, massachusetts. Mohican sons around that region, but suddenly massachusetts, everybody wants in. Why do you want one so badly . We are bidding for western massachusetts in the city of springfield. A city that has really been hurt badly over many, many decades and is appealing to me from the urban renewal project, from commercial opportunity we have hundreds of thousands for and jim resorts customers who live in new york, connecticut and massachusetts that we know we need to touch if we have the resort. I look at that opportunity similar to the mgm grand detroit. We invested 800 million in detroit, leiceste lester made 165 million in cash flow, ghostly kind of returns if you build a beautiful integrated resort that has staying power, you can accomplish in markets like western massachusetts. Liz it seems like we have covered this extensively that the Online Gaming business might eventually get here if you want a toehold when it does . I think we will have a toehold when it does. Very active efforts underway at the federal level or state by state level. We do want to get back into new jersey, would never want to leave, we just disagreed with the opinion that access to make a decision between new jersey and macau, dont think that is a decision we have to make. It should be a good operator and be welcomed in both macau and new jersey, that is our hope and my expectation wa once we go through the licensing process. Liz do they have salt water sar taffy and corn dogs . Is closer to my mom who lives in connecticut so one reason i want to get back. Liz are watching all the developments. Thank you. And jim resorts chairman and ceo. A sign of the times. Clear channel outdoor growing for major changes switching out to digital billboards in the u. S. , europe and even asia. So how is the transition working out . Are customers spending more money on ads . It is a fox business exclusive. The leading indicator for housing, lumber prices going through the roof the past few years. Find out what traders are saying when countdown returns. i liz not couch potatoes, but chair potatoes. The power mover of the hour sitting pretty, it is lazy boy. It is, hold on one second, jumping 13 . A nice move there. This is a one month chart, bouncing around and then the skyrocketing move, thirdquarter earnings rose 14 , lazboy reported higher revenue, Retail Business swing back to profitability. And analyst beach results and expectations, shares going pretty well. The oneyear chart shows up about 23 this year. Not bad at all. Okay, gold. We can take a look and see gold futures at the moment and we can see they are dropping 41 at the moment. Lets head down to Nicole Petallides on the floor of the New York Stock Exchange looking at gold stocks. Nicole lazboy shares are gold. Gold ethics might it be, not good. Changing, down for 2 for gold. This is one name in particular, over to south africa. Ceo of the Company Actually saying the negative news in south africa is significantly overblown. However there has been a lot of violence, not only for that particular company but some of the others related over there in south africa. And you have issues in emerging markets and china. These are the kind of things that affect commodities such as gold. Back to you. Liz sometimes people sell what i have to sell off marginal cost. Were watching it very closely. Down 99point the dow jones industrials. You can call it exciting, what were hearing from traders, dramatic reaction to the fed minutes with your questioning how long they will stay in the quantitative easing business trying to prop up the market. Are there questions about it . What does that mean . One less reason to buy stocks because that is what is propping up the market. Lumber prices, no problem, skyrocketing. Hosting points started to slide, but lumber companies are molding their business to react to the change in cost. Jeff flock in chicago were the past couple of weeks longer has been up on a couple of locations. It has really been flying high except for today when the numbers came in. Been in business over 100 years in chicago. The guy who is running for the last 40 years says he thinks lumber has room to run. Today, those Housing Starts came out, what happened . It took a major dump but then look at companies that actually use lumber. A real runup for them. Fortune brand. Cabinet and windows and other products. They have had tremendous oneyear returns. Much better than the lowes and home depots that does everything else. Who did not do well today . Those homebuilder stocks. Today with the hosting stocks, theres a lot more optimism in that number then a lot of people are trading on today because singlefamily starts up, the multifamilies that took a hit and that says a lot more about the future in terms of the positive than anything else. You should smell the lumber, it smells great. Liz yeah, it smells good. Thank you, jeff flock. The closing bell ringing in about 37 minutes. What is going to happen here . A lot happening in his last 25 minutes. Pain at the pump, they hurt you, but it is not all bad for your portfolio. Gasoline prices soaring 33 days in a row, but what is going on with supplies . A closer look when countdown to the closing bell returns. Announcer you never know when, but thieves can steal your identity and turn your life upside down. Hi. Hi. You know, i can save you 15 today if you open up a charge card account wi us. You just read my mind. 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You can actually, instead of you can make money. Were always about the trade. So who is really to blame . It looks like the refineries are definitely playing hardball, and this could be the trade. We saw this cnidarian Washington Post story about valero which is a refiner. Atlantic basin capacity closures have improved refining fundamentals in a slide presentation and a Credit Suisse investor conference. Goes on to say the estimated that nearly 1 Million Barrels a day refinery capacity have been closed mondays, which valero said, and here is the nugget, allowed it to increase profit margins. Here talking about closures reducing excess capacity. Theyre for increasing profit margins, and its really an industry trend. Overall some oneandahalf million to 2 Million Barrels per day of capacity to close down or been slated for closure. The move from one to blend of gasoline to summer blend, see at that closing down, slow down according to estimates. Increasing profit margins, and here it is, translating to a stock. Shares of valero are up in 201340 alone. Shares actually hit a new high today before selling off. Another one, moving lower today, but the stock is up more than 20 for the year. Oppenheimer raising the price target. Obviously not too far from 55. Still a ways to go. They have to outperform rating. Finally marathon petroleum. Also hitting a new high today before pulling back like the rest of the market. Shares of more than 30 so far this year. We dont just complaint here on countdown to the closing bell, we give you. Speaking of which, what is happening . Just wrapping up its Conference Call. Was bill asman able to get in a little question . Is analyst tried. His main analyst, as you know, massive short. Says its a scam, a pyramid scheme. We should point out they came out with better than expected earnings, retracting sundays a new investors, long investors. Obviously denying what they say. Theyre doing a stock buyback. Shares are down, but heres the interesting thing. This always happens in companies that are controversial. Lets face it. A company which gets a lot of money from distributors. If you dont get customers and you just have distributors at some point the distributors dry up and they stop paying you fees and guess what, shares go down. What he said, the guy who is saying that is essentially the blueprint of a pyramid scheme and that is what our life is, is