Transcripts For FBC Countdown To The Closing Bell With Liz C

Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20160525

Yesterday when protestors jumped on police cars and smashed through window and fought with Trump Supporters and police last night. We are also waiting on senator Bernie Sanders who is expected to hold a rally in california at any moment. He attacks the disney ceo who makes 646 million in compensation. Theres a lot going on the political front. The clinton campaign, though, frozen today by a new state Department Report that says the former secretary of state broke federal records rules by using her personal email servers. A Political Panel tell us if or how bad it could hurt her campaign. Venezuela, south americans economy in freefall, riots in the streets. What is going on there . In a fox business exclusive, we asked a former u. S. Embassador to venezuela Patrick Duddy how close venezuela is to descending into outright disaster and whether itll split and spill over into other countries, lets start the countdown. Liz for those who fear the fed, youre missing out. Right now on a two day close to 400point rally for the dow. Today we are up 149 adding on to the 200plus point gain yesterday. The rest of the markets are charging along for the ride. The dow is now up for the month by just under 1 , but i need to stress here, anything could change. You know how this is a very headline driven market. We have pretty significant gains for the s p, 13 points nasdaq 29. The asian markets mainly hong kong and japan took the ball and ran with it. The hang seng jumped nearly 3 overnight and nikkei 2. 25. In japan 1 and a half percent but at least one asian stock is definitely raising alarm bells here at the u. S. At this hour, take a look at alibaba. This was down 5 , right now down 7 and a half percent. The chinese ecommerce is plummeting after been revealed that the commission is investigating baba for Accounting Practices particularly one day in particular. Alibaba invented holidays where singles are supposed to buy themselves presents. They do more than a billion in sales that day. Its turned into a shopping event. Alibaba is being investigated for how its actually crunched the numbers for that day. Companies say its cooperating with the investigation. We should look at hewlettpackard intrer fees, thats not why the stock is jumping, the company says its going to stin off Technology Consulting business to Computer Sciences corporation, shares of fpe up 65 but Computer Sciences is also jumping at the moment. To politics and donald trump about to take that stage in anaheim, california, youre looking at a live aerial shot. Security at the event is tight, take a look at the chopper zooms. You do not see protestors. Our reporters on the scene are telling us theres no mass protest action going on. Few people here and there but a far cry from what we have seen recently, and im talking yesterday in new mexico. The Trump Campaign was contract today limit the amount of tickets, rather sold and that was supposed to be the 7500 but it could be because of this, what we saw as information just mentioning, remember last month in california in the beginning of may there were so many protestors on the scene back then that mr. Trump who was attending the California Republican convention actually had with to climb within that area within freeway and side street and slip over, you know, cement barriers to avoid the crowd. Lets bring blake berman. We remember the shot april 29. More importantly what hes going to say is more hefty. Blake what a difference a day makes here. No reports at the moment of any malicious activity in the area but police in an mile, california are gearing up right now outside of Donald Trumps rally. We have been watching here. Hes expected to take the stage in minutes. Police are passing out a flyer called protest expectations, warning of legal consequences should things get out of control, they are stated among them. They say do not vanned alize, damage vandalize but comes after a day after protestors got incredibly unruly at a rally in new mexico last night. The Police Department there says officers sustained injuries, even police horses. Police described the scene last night as awry yacht. Trump reacted on tweeter, the protestors in new mexico were thugs who were flying the mexican flag, the rally inside was big and beautiful but outside criminals. Now back to california where we are watching trump on stage shortly protestors do have a history of becoming late april, orange county, crowds pretty much overtook the police there. Good news from what we can see is nothing like last month and last night. Theres a line of Police Officers and lines of police on horseback so it appear that is the police are outnumbering the protestors at this point, you know, anaheim considerably perhaps a more conservative area, but what you do have here, youve got a lot of surrounding universities where perhaps students might feel that way but looks rather peaceful right now so we will keep an eye very closely and as soon as donald trump takes to that stage, we will at least get you the picture of it. Blake, thank you. Blake is going to standby in case we get more information. We have more in the 2016 race with our panel. We will focus on the democrats, new state department of Hillary Clintons emails, by the way shes depending on what market youre in on ellen, the talk show right now, we will tell you what shes saying. Look at this, the bulls are back, Dow Jones Industrial getting charged in a good way, if you are certainly along this market, a lot of people are missing out on the rally, why, they feared the fed, they feared the gdp numbers, they think they are too weak. Wall street is climbing the wall of worry right now this as oil settles at highest level of the year. We are up nearly 2 in the aftermarket. Is that whats driving the rally right now . Cme group, the New York Stock Exchange john, two days near 400point rally at this point. Pretty significant and im not fully buying into this market just yet. If you look at the headlines that we have seen so far over the last two weeks, i dont think theres a strong headline thats warranted the movement. I wouldnt be surprised if we see a sell off as we get closer. We normally see that historically in threeday weekend. But right now, investors are so confused as to what to do, as you said, the fear of the fed, what is the fed going to do, what are how are they going to do it, as soon as the market moves higher or lower, they have to jump on board. Liz and then they are late, john. They are playing catchup and sometimes they get in at too high of a point. The only bright spot coming into tonight, with this rally we have three pretty big ipos tomorrow. We havent had a lot of ipos this year. That money thats been on the sidelines, the companies have been waiting, have appropriately to see markets trading higher and ipos coming tomorrow we will see the rally. Liz it appeared that there was fear on behalf of the companies that timing is everything. Luke, i want to oil here. Oil hoovering just below 50 a barrel. Well, for once we did see a significant drawdown for oil. We saw inventories coming down 4. 2 million a barrel, we then sagas line inventories coming up. So that was interesting. They appeared to have overcompensated and refined way too much gasoline in the wake of the canadian fires. Yeah, a little bit. We will see. I think its going to be a big summer drivein season. You know, i think oil moves a lot on fundamentals but takes a little while for the fundamentals in the oil market to actually wash out and get to the prices. I know you remember in 2007, remember oil in 200 a barrel and maybe seven months tendollar oil and nobody is ever going to need oil. The fundamentals plays out in oil but takes a while. Liz i will wait for the chart because its important to see as we start to see gasoline going into the driving season, it just looks like that is the one coming down. We have heating oil, crude, right now sorry, are we going to get that chart . Its down about twothirds of a percent. So gasoline is certainly an important issue that we are looking up considering that we did see that build of 2 million a barrel. Ira, looking at how oil plays into with the equitys market, theres more than higher oil today, though, we had a great asian market performance, same with europe. Europe was up two days in a row. Looking at all thats happening here are the earnings coming through to be enough to propel this market. Is it the earnings or that the banks are going to be in better shape because whats happened the market shifted gears and looking at, hey, if Interest Rates are going up, the Financial Sector can move up with it a bit. Im not in the Bull Campaign either like john said that this rally is going to have legs to it. We have crude oil no longer the problem that it was. It started with the housing numbers yesterday, the market now is shifting gears and saying, hey, the fed has a better chance of raising rates as we watch the fed watch page, maybe high 30s of a probability of a june rate hike. Thats the way to look at it. On that embrace when it happens, typically you get the rate hike, you go on this break, once the first rate hike happens, i think gold will come to the upside, you have to get it out of the way. Liz okay, im going to believe you on that. I know our gold bugs are absolutely thrilled and looking at gold right now, we can see that gold is at the moment is looking pretty bad. Its not that 5dollar loss is bad, yesterday was even worse. So again, its very interesting to be watching these markets. They are turning very quickly on a dime and thank goodness you guys are right there with us. Make sure to turn in to cavuto, coast to coast. Niel is speaking with alan greenspan, what does he see for the next june meeting . Whats going to happen . Niel is going to ask him on fox business. Diamonds not a girls best friend at least for today. Falling 7 . The sixth straight quarter of decline. Its more than just a one off here, you can blame what, a strong dollar perhaps for eating into revenue outside of u. S. Markets, we shall see. Moving higher by a quarter of a percent. Violence in venezuela, chaos in caracas, not just, of course, violence but the economy as well. The economy of what should be an oilrich nation is crumbling with devastating effects. We have an exclusive fox Business Interview with the foxer embassador of venezuela standing by, he was once kicked out of the country by former president hugo chavez. Will revr if he thinks venezuela is about to descend in total disaster. The embassador coming right up. Before i had the shooting, burning of diabetic nerve pain, these feet were the first in my family to graduate from college and trained as a nurse. But i couldnt bear my diabetic nerve pain any longer. So i talked to my doctor and he prescribed lyrica. Lyrica may cause serious allergic reactions or suicidal thoughts or actions. 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Call Liberty Mutual for a free quote today at coverage compass gives you the policy information you need at a glance. Available 24 7 on your mobile device. Switch to Liberty Mutual and you could save up to 509. Call thats see Car Insurance in a whole new light. Liberty mutual insurance. Liz we have breaking news. Case owes is happening right now in venezuela. If you havent heard, we need to tell you, the economy is crumbling. Protestors taking to the streets calling for nicolas smad swroa to maduro to be removed from office. We have been asking major money, major investors and i got opposing views for some of the mostwatched investors how do they feel about investing in venezuela, listen. Would venezuela ever look interest to go you . Sure, theres no inherent reason why venezuela shouldnt be a very successful country. I just needs a change in management. A very radical change in management. Liz if you saw new management going in absolutely. But their time will come. Liz the government has to change. Joining me right now in a fox business exclusive somebody who really understand venezuela, hes been on the ground there for years and fox business exclusive former u. S. Embassador to venezuela Patrick Duddy. Does any of this surprise you, whats happening on the ground in venezuela right now . No. The economic model that president chavez sought to impose in which to a very large degree president maduro has supported since his election in 2013, essentially is a flawed one. It has devastated the private sector. Now for a long time Record High Oil Prices essentially masked the weaknesses in the system, but the decline in oil prices over the last year have revealed its flaws but some of the flaws were evident a long time ago. Liz how close are we of a Tipping Point here into complete chaos, we have crisis, we have violence, how close are we to a point where somebody storms the president ial building, something has to happen, something has to give . Well, its clearly a very alarming skeptical. Venezuela is on vergestate status. The currency has collapsed. Theres economic chaos, the government is has actually reduce it had workweek for Public Employees to two days a week in a deseparate effort to try and save power but its not clear yet just when or if the situation the situation will hit ground zero. Liz people cannot afford people cant eat. We did a little bit of research here. A happy meal f they can get it is more than 1 forty dollars. They cant drink their Morning Coffee can lech. At what point does it turn humble people to do serious things . Its unraveling before our eyes as we speak. At least economically things are going to get worse before they get better. Critical to oil industry have announced that they are reducing their activities in venezuela. Bridge stone which has been there for 60 years has announced theyre selling their business. Cocacola is not producing soft drinks because they cant produce sugar. Even the beer liz could we see a are the Police Officers in the video, are they getting paid, is it maybe a police cue . Certainly theres been speculation of some or the of takeover from within the chavista movement. The government has a monopoly on force. Its not going to come from the opposition. The question is how do the armed forces, the police and others understand their equities in the Current Crisis. In the Current Crisis is more severe than anything we have ever seen in venezuela, at least in the last 30 years. Liz and you would know having been there. Thank you so much. Something tells us that we will have you speaking with us if anything descends any further. At this moment youre saying that vens wella is venezuela is unraveling before our eyes. It is. Liz when these types of things happen, folks, they do tend to affect our markets. Not right now. Dow jones industrial hold to go most of the gains today. We are up 161 points. High in the session, up 182, and again you compile the twoday rally here and we are close to 400 points to the upside with the bell ringing in minutes. The relief in sight for travelers, changes being made for travelers right now. The information ahead of traveling plans. Donald trump still has not taken the stage yet, but when he does, we will take you live. More countdown on the way. a great part of using the usaa Car Buying Service was seeing the different discounts. It had like a manufacturer discount, it had a usaa member discount. All of them were already built in to the low price. I know that i got a better deal than i would have on my own. Usaa Car Buying Service, powered by truecar. Liz breaking news. We promised it, here it is. Donald trump is walking through the throngs in the crowds in anaheim, california to speak right before lots fans here, as hes walking to the stage, a couple things were watching for. Whats he going to say about opponents or opponent because Bernie Sanders is in the game with Hillary Clinton. People Holding Signs that say we stand with trump, the groups that stand with trump, and lets listen in. Good to be with you. Good to be with you. Thank you, everybody. So heres what happened. I got here, and they all said we have a great crowd, we dont have time for the national anthem. I said yes, we do. We have time for the national anthem, right . And we have a young lady that is going to sing, and i said what are you doing . She said i was supposed to sing but they had time because of the Television Cameras they couldnt do it. I said guess what, were going to do the national anthem, okay . So sherri wilkins, come up. Come on. Usa usa usa usa usa o, say can you see by the dawns early light what so proudly we hail at the twilights last gleaming whose broad stripes and bright stars thr

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