Transcripts For FBC Countdown To The Closing Bell With Liz C

FBC Countdown To The Closing Bell With Liz Claman October 12, 2016

As new reports say support from the allimportant evangelical bloc of the Republican Party may be eroding for trump. Hillary clinton for her part is off to another key battleground state, colorado. She is scheduled to speak in this hour. We have a busy hour. Shes dealing with the fallout over more wikileak emails. Our Political Panel is set to weigh in on that. On wall street today, we have gains for the markets. Not that much. 22 on the dow. After the fed minutes were released an hour ago. Amazon takes on 7eleven, cheap gas equals higher heating bills . Im Connell Mcshane in for liz claman, start the countdown. All right, breaking market news, and investors jumping back into stocks a little bit today after the flipflopping. The fed showed no definite commitment to a december rate hike. It is looking more likely well get the rate hike, not definitive just yet. The dow up 26 points, hitting session highs 18 minutes after the release of the latest round of fed minutes. The fed was split on both sides of september rate hike debate with. That stocks doing a little better. Energy stocks rebounding from lose. They were off as a group by more than one percent. One of the weaker groups in the s p 500 are Energy Stocks today. Crude oil settling 1. 2 lower on the day falling for a second consecutive session, investors wrestling with uncertainty over russia and russias willingness to cut oil production. And technology, the fire in Samsung Smartphone scandal still ablaze, the south Korean Company facing one of the costliest product safety failures in the history of technology. Thats how big this is. Samsung slashed quarterly profit estimate by nearly a third. Taking a 2. 3 billion hit from ditching this phone and look at the pictures. That has hurt samsung. Apple investors would cheer that, you would think, on track for longest winning streak since seven day run of gains in february of last year. Back to t to the politics now, and faith under attack as both president ial campaigns are under fire in an allout religious war. New emails released by wikileaks reveal a top spokeswoman for Hillary Clintons campaign mocking catholics calling the religion backwards, including jen palmieri, her Campaign Chairman john podesta, American Progress john alpin on the email chain calling catholicism, this is a quote, an amazing bastardization of the faith. Evangelicals, the heart of the Republican Partys base in many ways for years may be backing away from the trump campaign. Christianity today, a leading evangelical magazine saying christians should not support a man whose life is based around idolatry, greed and sexual immorality. Its just another day in the 2016 campaign, and fox business Senior Correspondent in washington peter barnes will put it together for us. Reporter connell, the Clinton Campaign is pushing back hard against the reported 2011 email involving jen palmieri and catholics and evangelical christians. A Campaign Spokesperson saying in the last hour it is, quote, the latest faux controversy. The email allegedly from a fellow at democratic think tank john halpin who wrote about politically conservative catholics saying they must be attracted to the systemic thought and backwards gender relations and must be totally unaware of christian democracy. She purportedly responded in part, i imagine they think it, roman catholicism is the most socially acceptable politically conservative religion. Their rich friends wouldnt understand if they became evangelicals. She was herself at center the for American Progress at the time, and left in 2013 to become president obamas Communications Director and then went to work for the Clinton Campaign in 2015. Speaking to reporters in the last hour, palmieri said im a catholic, i dont recognize that email that we saw, and this whole effort led by the russians, the russians orchestrated this attack, as noted theyre behind the timing and manner of the leaks and were not going to do any more comment or aid their efforts. This was after donald trump made an issue of it at a rally in florida earlier today. The new emails also show members of the clinton team viciously attacking catholics and evangelicals. They attacked catholics and evangelicals [booing] viciously. And that wont be tolerated and wont be tolerated by the voters. Tell you what, anybody of religion, i really think you have to vote for donald trump to be honest with you. I really do believe this. As you mentioned, connell, donald trump held the Conference Call with catholic leaders to talk about the derogatory comments that these wikileak emails purportedly show. Once again, the Clinton Campaign pushing against them saying theyre faux, false. Hoping it the help in states with catholic voters whether it be pennsylvania and ohio, maybe florida. Thank you, peter. While peter is on, give him a shoutout. Peter barnes with mornings with maria, an exclusive interview with the president of the bank of philadelphia, tomorrow mornings with maria, 8 30 eastern time. If you thought politics in our country was complicated, try running a nation pulling out of 16 trillion economy. The new british Prime Minister theresa may finding what many find a hard brexit may be harder than anyone thought. Ashley webster is on the floor of the New York Stock Exchange. Tell us about the mess in the uk . Reporter it is a mess, they voted for brexit in a big surprise sxaufl a sudden questions are asked and not many answers as to how they do this. I want to show you the british pound hitting close to three decade low yesterday. This is since the vote on brexit in june. Gone from close to 1. 48, to 1. 21 yesterday, back to 1. 22. When i came to the country, it was 2. 82. It was in the 80s. As long as there is the discussion how the uk is going to negotiate its way out of european union, well have volatility with the british pound. The Opposition Leader in the uk says it is sham bolic, to use his words, no answers to the basic questions. There is the aforementioned jeremy corbyn. Theresa may says dont panic, we are okay, putting together clear negotiations with the eu to get out and give the uk the best possible deal. Uk wants a big slice of the eu single market. How much are they going to negotiate if they have control over migration . It comes out of the article 50 which theresa may says she will trigger next march and two years before the uk can actually get out. Lots of questions how they do it, and as a result, the british pound, nice and cheap to go on vacation, a nice ride down the thames. I would enjoy that. The currency story, you and varney coming in through ellis island back then, the two of you . [laughter] i set it up for you. You did, it was your own fault, sir webster. Back to our own markets. Stocks have come off session highs, off 38, almost 39 points on the dow as we look into digest the fed minutes that we got in the last hour, and on that, you can check on the fed funds futures, the december rate hike, probability, we like probabilities, it fell from 70 prerelease to 66 or thereabouts immediately after the release of the fed minutes, and 65. 6, Something Like that, exact number for you. Our floor show right now. We have traders at the New York Stock Exchange and the cme group, matt and larry. Matt, to you, first of all on the minutes that the likelihood comes down, it is somewhat likely we see a rate hike in december. What do you think will happen in the markets . No reaction in the market. The dow has been up 30 points all day long. Markets anticipated a rate hike, whether or not we expected to get it. We think were getting one and thats the clarity that the market is looking for. The number is not there, the data not there. Inflation nowhere near 2 , slack in the job market, no business growth. No real reason to raise rates and the market hasnt reacted and i dont anticipate anything in november let alone december, that is too far out to forecast. And youre right, sometimes you raise or telegraph these things, larry, and next think you know, if youre the federal reserve, you end up doing them. Sometimes you disagree. The minutes are data dependent, theyre going to watch the jobs number. That make the november report the largest weve seen. If theyre not great, theyre not going to be able to do anything in december and other markets continue to drift higher. Look at the data and you will see. They said there was a reasonable argument last time around to raise rates. Matt probably doesnt agree with that. It could have gone up . It would have killed them to raise rates last time around . December is the key if its going to happen. Matt, what do you make of stocks, today not much, we have an election coming up, how do you see the market going between now and then . Yesterday there was no place to hide, everything was down, and various reasons for it, opec . Was it politics . Today, there is no reason to get in the market right now. Oil at a number 50, if it breaks 50, does it go back to 45 . Earnings from alcoa scared the market. If you can play it and get certain amount of move, youre going to do it. Thanks, appreciate it. Take a look at dow 30, we see nike leading things higher. Top analysts say the company could rise over 20 in the next year. Expectations, nike stock will go up. Polaris, the allterrain vehicle maker announced its buying transamerican auto parts, offroad accessories company, polaris had been down 39 over the past 12 months, up 3 today. Drivers did save big bucks at the pump this summer. A story we know well, the low gas prices, theres a new report out, low crude prices that led those gas prices lower may actually mean higher bills to heat your home this winter. That doesnt seem fair. Well explain that coming up next on countdown. We ship everything you atcan imagine. N, and everything we ship has something in common. Whether its expedited overnight. Or shipped around the globe,. Its handled by od employees who know that delivering freight. Means delivering promises. Od. Helping the world keep promises. Is it a professor who never stops being a student . Is it a caregiver determined to take care of her own . Or is it a lifetime of work that blazes the path to your passions . Your personal success takes a Financial Partner who values it as much as you do. Learn more at tiaa. Org do you have thecare . Coverage you need . Open enrollment ends december 7th. So nows the time to get on a path that could be right for you. With plans including aarp medicarecomplete insured through unitedhealthcare. Call today or go online to enroll. These Medicare Advantage plans can combine your hospital and doctor coverage with Prescription Drug coverage, and extra benefits all in one complete plan for a low monthly premium, or in some areas no plan premium at all. Other benefits can include 0 copays for an annual physical and most immunizations, routine vision and hearing coverage, and youll pay the plans lowest prescription price, whether its your copay or the pharmacy price. Or pay zero dollars for a 90day supply of tier 1 and tier 2 drugs, with home delivery. Dont wait, call unitedhealthcare or go online to enroll in aarp medicarecomplete. Connell we have breaking news coming in from North Carolina as the death toll is still rising there. Hurricane matthew flooding the eastern part of the state of North Carolina, the governor pat mccrory confirming that reported deaths have climbed to 19. Conditions for the next 72 hours are dangerous, the record flooding surging a couple of the big rivers in North Carolina expected to crest whether its tomorrow night, maybe early on friday and then after that, the next threat becomes water contamination from chemicals, also saying from dead animals. President obama has declared North Carolina because of matthew to be a major disaster, major disaster area. Lets go to oil for a moment. Talking about oil earlier, it did fall today by about 1 . Opec reported september oil output was at an 8year high, and while motorists have saved money at the pump, thanks to the low gas prices, they may be paying more to heat their home over the winter, so were going to talk about that and how else the low prices impact oil with charles drebna, from fueling u. S. Forward. I gave this as i tease and asking you right off the bat. Boy, we had lower oil prices, lower gas prices, doing better at the pump and now tell you, you might be paying more to heat your home this winter, why is that . Thanks for having me. The salient point is i guess there was an article in the wall street journal but that very thing that were not producing as much of the oil so not producing as much of the gas so potentially shortage, you can argue which factors are leading to production of natural gas and oil, but the statistics that were involved, you know, theyre probably right. I think he said the potential that gas prices are up 38. 5 for the year. Now the question you have to ask is up from what . Before we had hydraulic fracturing, prices were here and we had volatility. Volatility today because of hydraulic fracturing and innovation and ingenuity of american oil and Gas Producers its down here. The 38. 5 is sort of based on the 2015 statistics, which were very, very low because gas prices were way, way low. So yes, is it up . The gas prices are climbing higher . Yes, but from what level to what level. Connell they will be up is the point, the Natural Gas Prices and so home heating will be on the consumer side of things potentially more expensive as a result of that. Thats fair to say. Potentially more expensive in 2016 than it was in 2015, but way, way lower historically. Connell if you look at gas drilling activity, i have numbers here, ill read them to you, i think they are somewhat startling, there were 94 rigs drilling gas wells in the u. S. Last week. Thats half of what we saw a year ago and just a fraction of what we saw when there was 1600 in 2008. That seems like a ridiculous drop. I dont know the industry or know as much about it as obviously you would, seems on the numberswise like an enormous drop. Goes back to the thing i talked about, the American Ingenuity and being able to weve just gone past hydro fracking 101 and 202, we zoomed past the 202 course and rapidly going to the graduate courses. You look at whats going on in the world today because of what were doing in the united states, we have russia and opec getting together to talk about limiting oil supplies or making a deal about it. Now whenever you have russia, opec and deal in the same sentence, it sort of reminds me of the end of the movie the good, the bad, the ugly, the gunfight, who are you going to trust . Whenever opec says they limit production, that gives a new basis from which to cheat, but the salient point here is what has happened to the World Markets because of american ingenyity . Connell right. The technologys advanced, were doing more, better tat than we were, the overall numbers arent as important. By the way, you covered more in the last two minutes than theyve covered in the entire president ial campaign, for better or worse. Thats a whole other story. Connell that is a whole other story. What does this mean to the American Families . What does it mean to say that the u. S. Is truly an Energy Superpower . Im not talking about the statistics and barrels or btus, im talking about the quality of life, what energy means to a family. Connell i hate to do this, we have to take it up another time, because of speaking of the elections, breaking news out of florida. Thank you, sir, charles drevna. That would be donald trump. Second rally of the day for mr. Trump, this time in lakeland. He spoke longer than we thought at the first rally. So well see as he does this from time to time, hell speak at an airport hangar. That makes it easy for trump obviously to make a campaign appearance. You get all the people who are attending the rally to come into the airport, wait at hangar, he flies in with his plane, and then that there it is, mr. Trumps airplane making its way down, serves as a backdrop for the speech hes going to make. What weve seen from trump, vintage trump, the trump from the primaries, will we see more of that really going after Hillary Clinton . When we come back, were going to dip into event in lakeland, florida. Were awaiting donald trump. Back in a moment on the countdown. Connell more breaking news this time out of connecticut a story really developed today, that ledly plane crash in east hartford, it appears to have been intentional according to the National Transportation safety board. They turned their investigation over to the fbi. Twin piper that crashed this time yesterday, 24 hours ago. Student pilot was on board. That person was killed. The Flight Instructor survived. Now the student pilot, the person killed has been identified as a Jordanian National according to reports. The student pilot and structure may have been arguing before the crash with the student saying he no longer wanting to fly the plane this is a fast developing story. Officials were saying there was no indication of terrorism. Well see how the whole thing plays out given new information coming in. Intentional act what theyre saying at ntsb. As we wait for donald trump, Convenience Stores beware, amazon making a bigger push into the grocery business, opening brickandmortar Convenience Stores that offer curbside delivery. What will the locations offer up to customers . Only o

© 2025 Vimarsana