Transcripts For FBC Countdown To The Closing Bell With Liz C

FBC Countdown To The Closing Bell With Liz Claman December 21, 2015

George lemieux and former senator evan bayh, a democrat from indiana, they join us in moments. The posted ceo for wall street greed were talking about martin shkreli. Another Company Drops the hammer on him. One of the most revialed and compelling figures in Business Today according to forbes magazine. Star wars living up to billing after a blockbuster weekend. Weve got the numbers disney was hoping to see and the exciting, basically plan that disney has in the works, thats coming up. You know about the amazing beauty shots that you take with drones in real estate, could be harder to come byes as the faa institutes new rules of drones into effect. Less than an hour to the closing bell. Lets start the countdown. Liz all right, lets take a look at volatility index. This is the ekg for the markets. This shows you what has been going on over the last month. 25 years of vix performance in december. Its usually a placid, serene month for december, but this month we are at historic chops at the market. In other words, the fear gauge is trading as high as nearly 27, even though the markets are set to snap the twoday losing streak. Looks like santa claus is not coming to town with a rally this year. We have a ways to go before we see dow 18,000, and see today that 9 out of the 10 sectors of the s p 500 are up today, energy again the only laggard. Lets take another check on the dow. It is down around 36 points. A lot of green on the screen right there. Youre going to see basically ge and ibm in the red, also exxonmobil. We want to take it right to the floor show. The traders that you would want to hear from at the new york stock exchange, the cme group and the nymex. Weve got Stephen Guilfoyle at the nyse, at the cme dan and rob at the nymex. Stephen, to you first. What are you hearing on the floor . People are nervous. Remember all this talk about dow 18,000. Not seeing it right now. No, no. This is a very disappointing day for traders. I mean a lot of guys felt we might see juice today, a little bounceback off of oversold condition. How oversold were we really if this is all we get off of two highvolume days like that . A technical day on low volume today. Liz yeah, dan, heres the thing, we talk to people in the markets about whats going on with the forecast, the dow 18,000. If you strip out energy, we would have hit it, what do you think . That very well maybe the case, and theres a lot of fear surrounding energy. If youre a trader, the energy trade is great. If youre an investor, dont worry about it. Important to remember that oil demand is still up but supply is there. This isnt 2009. What were seeing as the previous guest said there is uncertainty that isnt necessarily oil related. Were going to need the to see data to see whether or not were on track. Thats the big indicator. Liz rob, dan made a really important point. The other thing impacting oil is Deutsche Bank is saying the dollar has two more years of a bull run. That means oil will go down, oil is priced in dollars. We havent seen what is going on in oil for a really long time. Saudi arabia and iran are going toetotoe in the oil markets. What do you think . I definitely agree with you. Something that dan brought up is talking about where the economic numbers are laying out. With the strength in the u. S. Dollar seriously pushing down the price of oil and thats going to continue. The supply issues, theres a tremendous amount of supply right now. You have not seen that cut from the last thanksgiving when opec led by saudi arabia said they were going to try to increase supply to weed out the weaker hands in regards to oil companies. Havent seen that right now. Thats why you are seeing oil continue to go lower. The economic numbers have to improve if you want to see oil trade higher. Liz stephen, rod made a good point about oil. Ever since the opec beating, tumultuous and cantankerrous, oil down 18 . Were talking about data out of the chicago fed, the atlanta fed. Economy looking at below 2 growth, and stock market looking rich over a third higher than the average in terms of price earnings. The markets, the stocks are trading in the s p 500 nearly 31 higher than usually have over the last 40 years, i would say. Yeah, and well get a look at gdp tomorrow wont we. See if were at 2 or not. This market, the valuations are high, where else are you going to put your money in these times . Thats what saved us a few times here and keeping us above 2,000 on the s p 500. Can we get that santa claus rally . I dont know but Im Still Holding out hope. You know, were heading into the end of the year, guys. Tell me if im wrong, dan, rod, tell me if im wrong. The only four sectors up to date, consumer discretionary, and Consumer Health care, am i right . That is really an outlier, you only have three sectors. Liz thank you guys. We have the ateam. Those are the guys up to the listen to. Well, the week is not off to a good start for embattled expharmaceo martin shkreli. After the alleged fraudster complained to the wall street journal he had been targeted by authorities for drug price hikes and because of his personal persona, pretty outrageous on social media, now another company he headed has given him the boot as ceo. The 32yearold shkreli resigns from Turing Pharmaceuticals last week. Heres the news, they pushed him out the door as ceo. It is a microcap stock, a market valuation of less than 100 million bucks, but stock in a trading halt. It has not traded since shkrelis arrest last week. Weve got matt kaiser, a topnotch white collar defense attorney who represented everyone from drug dealers to political appointees in federal corruption probes, here in a fox business exclusive. Where do you see this going for mr. Shkreli, matt . I dont see it going any place great. Hes going to have to answer to the new federal charges and, of course the guy is going to get fired from any position hes got right now. I think whats going to happen, is a slow drip of more information as the government lays out its case, its going look bad for him. Liz heres the thing, what he is now saying to the wall street journal and i think you read the story too that basically he was a target, when he started hiking drug prices, thats when he became a target. The thing is the sec and Law Enforcement is saying the fraud started in 2009. So is he essentially saying i wouldnt have been caught conducting my alleged fraud if i didnt hike drug prices . I dont get his argument . I think thats what hes saying, hes way off base. The investigation started in 2012, thats when he started talking to the sec when lawyers started talking to the department of justice. I think that the drug price stuff. The wutang clan album, that may have come into alter a judgment call on the margins here or there. Maybe he wouldnt have gotten arrested. Maybe they would have let him turn himself in, if it werent for all the publicity and the fame hes got now. No, i think this investigation is going before he jacked up the drug prices, i think that investigation was going to keep going regardless of his new celebrity. Liz retrofin, his former company sued him for alleged fraud and treating the company, and also treated essentialingly the Hedge Fund Like personal piggy bank. When you watch mr. Shkreli in action, its like the Rod Blagojevich strategy where, you keep talking and hope anything sticks and its a distraction, he paints himself as a victim. That didnt work for blagojevich. Will it work for shkreli now . It is a highrisk strategy. I cant think of a time when that did work for somebody. If he were my client, not what i would be suggesting he do right now. You look at guy, hes his own person. Im not sure any lawyer could sit on him and get him to stop talking or Live Streaming himself playing chess. Liz matt, what would you tell mr. Shkreli to do now . Stop talking, shut down social media. Not go on the internet and talk to anyone and sit down and have a hard conversation with me about the charges and the evidence theyve got so we can try this the only place it belongs, in a court. Liz thank you, matt kaiser, sharp information, so appreciative you joined us today. Top white collar criminal lawyer, matt kaiser. Coming up next, disney is banking on the force, may the force be with you, as star wars blasts its way to Record Box Office numbers around the world. Also, weve got the guy, the neighbor, that man accused of buying guns for the San Bernardino terrorist. He makes another visit to court today. Weve got the breaking news, why they are calling Enrique Marquez a serious flight risk . Weve got a live report next on the countdown. Dont go away. 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To get started, visit a local office or call Liberty Mutual today at take control of your rates. Visit a local office or call see Car Insurance in a whole new light. Liberty mutual insurance. Liz welcome back, the closing bell ringing in just 46 minutes. The dow is just barely in the green, up about 23 points. Weve got the nasdaq, the s p 500 and the other indices in the green. Not a lot of conviction in the markets today. Some of the buyers are coming in even though it looks like the market Traffic Signals are flashing technical yellow lights. Going to talk about that in a moment. Up next, weve got uncle carl icahn, hes ready for another fight. The billionaire activist investor is oneupping bridgestones offer to buy auto retailer pep boys. The activist investor offered to buy the company for 16. 50 per share in cash and that beads 15. 50 offer from bridgestone. We have breaking news, u. S. Officials confirming just over an hour ago that six american soldiers were killed today in that deadly attack in afghanistan. One of the deadliest days of the year for the u. S. Military in that country. The soldiers were killed in what appears to be a Suicide Attack north of kabul. Three other soldiers also wounded. The number of american troops and civilians killed in afghanistan this year rising to 20. Were going to have much more on the story as it develops. More breaking news, the man accuse of buying the two rifles used in the massacre in San Bernardino earlier this month. He is in court today. 24yearold Enrique Marquez was charged last week with conspiring to provide Material Support to terrorists among other offenses. Weve got one of the best reporters down there, at the scene, we have fox news will carr, he is live from the u. S. District courthouse in riverside california. Hes got the latest news on this hearing. Will . Reporter liz, just in the past couple of minutes, a judge denied bond for Enrique Marquez, stating he believes marquez is a danger to this community. Marquez in court appeared to be fairly calm. He was wearing a white jumpsuit. He had his wrist and ankles shackled. He had glasses on. Looked like he hadnt shaved in a couple days but had hair neatly combed. Seemed neatly put together, far different from the day after the shooting, when he called 911, saying he was suicidal. He showed up at a hospital and said he guzzled nine beers and wound up in a psychiatric ward. Authorities say it was marquez who bought the ar15 that syed farook and Tashfeen Malik used in the San Bernardino shooting. Those who know marquez say he was quiet, he was responsible, that he kept to himself. Others say he spoke about sleeper cells. They thought he was joking. If hes convicted of the three federal charges, he could face up to 35 years in federal prison. It comes as the community continues to celebrate the lives lost over the weekend. Sierra clayborn, Nicholas Thalasinos and Michael Wetzel all laid to rest, three of the 14 victims all gunned down in the senseless tragedy. Liz thoughts and prayers are still with the San Bernardino victims of this terrible massacre. Thank you, will, great reporting there. Reporter absolutely. Liz disney is cleaning up on star wars with Record Box Office numbers. Theres another controversy, a new controversy related to the film. Harrison ford is set to make millions. Much more than his costars however. And while the dark side uses drones to fight, weve got the latest here on earth on what is going on with drones. Yes theyre used for amazing video, but anyone owning a small drone, theyve got Something Else to do. Tell you what you got to do when the countdown comes right back. Dont go away. Nobody move get on the floor do something oh im not a security guard, im a security monitor. I only notify people if there is a robbery. Theres a robbery. Why monitor a problem if you dont fix it . Thats why lifelock does more than free credit monitoring to protect you from identity theft. We not only alert you to identity threats, if you have a problem, well spend up to a Million Dollars on lawyers and experts to fix it. Lifelock. Join starting at 9. 99 a month. Liz welcome back. Star wars the force awakens, it is a worldwide cultural phenomenon. It has taken the galaxy by storm, toppling prior box office records, taking in nearly 250 million bucks over the weekend, and more than 528 million worldwide. It is on pace to match what Goldman Sachs is predicting for this movie. Nearly 2 billion in worldwide sales. It is a good thing disney is raking in the money. The latest Company Coming out of the movie. The company paid a sky high salary for Harrison Ford to return to the galaxy far, far away, according to a new report, ford can make up to, get this, 44 million bucks for repricing role as han solo. This is unconfirmed. According to a media report. However, this is reportedly 56 times more than the 450,000 flat fee that leading actors in the film john boyega and disney got, much higher than the 1. 5 million to Carrey Fisher to return to the franchise. What else does disney have in the pipeline . Harrison ford could be reprising one of his famous other roles in the near future. Were talking Indiana Jones. According to lucasfilms president kathleen kennedy, both ford and Steven Spielberg want to do Indiana Jones part 5. The studio is looking to go ahead with it, but right now, the focus is still on star wars. Were going to check shares of disney down nearly 2 right now. Next up, while star wars gives a view how drones may be used one day in a galaxy far, far away. Here on earth drone use getting much more difficult. Drone owners must register drones on a government website run by the faa. Current drone owners have two months to register while new owners have to register they will be fined if they dont do it. Joining us is a man who represents the Small Uav Coalition representing the drone industry. Thank you for joining us. Thanks for having me. Liz so the government fines big enough to induce people to register drones or blow it off if they dont get caught . The answer is most people that are aware of the registration will likely do it. I think one of the issues that we have is that many consumers are not aware of the fact that they are actually going to be forced to register their drone, and that is a weight of about a little over a half pound. So its a very small unit. There is some question whether its a toy or a drone, i think the fines are less concern to consumers than just the public awareness, but we know that the faas site went up just moments ago and people are beginning to register. Liz heres thing, people are scare about drones flying into the path of jet airliners, you heard it. Pilots had 660 sightings in the first nine months of this year. Some people look at rules with disbelief and possibly fear saying you know what in the fines of a 5 Registration Fee and face a fine of up to 27,500 for civil violations. That may not be stiff enough given the risks here . I would say this, the points you make is one that is controversial. There are a number of issues that have faced manned aircraft. There are also a number of, in the millions of drones that are in circulation now and soon to be more. And some of the studies coming out especially from the faa while somewhere clear nearmisses and close calls, a small percentage of the ones reported are five miles within an airport. Liz even one of them, michael, im grateful you are on the show. Of course, happy to be here. Liz of course the thought of getting it caught in a jet engine and causes a crash scares people. Rightfully so. Thats why you take measures as the one today. These are measures that are to enhance safety and accountability, and i would say just as an aside, this is technology that is being used widespread throughout the world. The u. S. Is far behind other nations in terms of the use cases, the efficiencies that are being created and how effective Drone Technology can be within various economies. We have a long way to go. Liz michael is the gentleman you want to listen, to the top expert on dron

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