Transcripts For FBC Countdown To The Closing Bell With Liz C

Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20161109

The lows became increasingly clear that donald trump would be the 45th president of the United States of america. But here we are with exactly 60 minutes before the closing bell rings, this gain is broadbased. The s p 500 tacking on 25 points at the moment. We are told that the president elect is backing his victory after acceptance speech that came during the wee hours of the morning. Donald trump reportedly spending the day out of the spotlight. Hes with family, reportedly speaking with staffers and no doubt answering calls and wellwishes from lots of friends, wellwishers and gop supporters. Trump is now the nations oldest elected president. Hell make his first visit to the white house to visit with president obama and what makes this country so great. Peaceful transition of power. President obama said earlier in the rose garden hes, quote, rooting for Donald Trumps success in uniting and leading the country. That speech followed Hillary Clintons concession speech in new york city. The former secretary of state calling the loss in the race for the white house painful but telling all of her supporters and followers, we owe donald trump an open mind and a chance to lead. So how will donald trump lead . Former governor hes a democrat and republican judd gregg of New Hampshire here on how the socalled experts got the prediction and donald trump will hold the Controversial Campaign promises. Among them, to build the wall at the border of mexico. We have former ambassador to mexico to iraq and to the United Nations John Negroponte. Hes here whether that wall has ever been realistic. Plus billionaire investor jeff greene, hes Donald Trumps neighbor in palm beach. Hes going to be talking about how businesses can prosper under a Trump Administration and how hes planning to invest around it. Were less than an hour to the closing bell and live from the floor of the New York Stock Exchange. Lets start the countdown. Reporter breaking news, the rally is oworries that the opening bell quickly fading away and what nearly was a 900point deficit has turned into a tripledigit rally. Here we are with the Dow Jones Industrial averages up 268 points, no fear at all. Its the volatility index which gives a sense of fear falling 20 as fierce of an armageddontype selloff have all but dissipated. No flight to quality trades, money coming out of government bonds, the safe haven trade, the 10year yield is hitting 2. 07 . That is the highest level weve seen since january 28th. The greenback, the dollar, having a solid session, erasing earlier losses, trading higher against a basket of currencies. Up three days in a row, so money buys a lot more if youre planning on take trips overseas, paris, go find jewelry and scarves and fancy stuff, the dollar is mightier today. A massive blow to the mexican peso. Weve been telling you the peso is a barometer to trumps chances, dropping to levels never before seen versus the u. S. Dollar. Now to the Federal Reserve. Is the fed finally ready to pull the trigger and hike rates . Fed funds futures are pricing in that scenario. About a 76. 3 chance of a december rate hike. Middle of december when they next meet. Why . Of course trumps likely heavy fiscal spending would boost Economic Growth and prompt the Federal Reserve to boost costs because we are no longer in an emergency economy or emergency situation. 56 minutes before the closing bell rings, stocks are flirting with record highs. John corpina, i grabbed you and said listen, why is there no fear, what happened overnight . Markets are firming up as we close into the opening. A buy program that came in close to the opening, investors saw the market plummet so much and realize its not that bad. Were not going to continue to see this sell coming into the opening. So we had buy interest come in and from there the market found its spot and rallied from there and staying at the levels ever since. Liz all right, art cashin said hes seeing selling on the close. People are taking profits, that would make sense. You dont want to get greedy, with a gain of 283 on the dow, would you advise that . I dont think so. I think our rally is going to continue, i dont think there is negative headlines overnight. As you said on the lead, president elect trump and president Obama Meeting tomorrow. Well get positive overall messages that come out of washington tomorrow. Bipartisan, this is a transition going to occur. I think that is positive to our economy and also to the overall fed. Liz what are you seeing on the flow of the floor. These guys get calls from big clients who say buy this, sell that. What are you seeing . Buying in many different sectors, you can see over time, there was a selloff leading into the weekend. Investors found an opportunity to buy stocks. We had a runup on monday. Liz lets tell people, the sectors like biotech, pharmaceuticals. High finance. Look at financials, financials have clearly come into the spotlight throughout this entire election, investors are feeling a little more confident. Liz bank of america, this is a 5. 75 gain. If you own big pharma, they are skyrocketing, Hillary Clinton had plans to institute price taps on expensive drugs so people werent hammered too much on that. I dont know what donald trump is going to do. Hes not the price control type of guy. Right, that gray cloud over that industry there has clearly moved away right now. Liz great to see you, john. John corpina. Busy day on the floor here. Minutebyminute moves here. 54 minutes before the closing bell rings. The dow holding off to 1. 5 gains, up 279 points. All the way around youre talking about a shock election win. Opponent who has conceded and country coming together to prepare for the next four years. Thats whats happening at this moment. And the wake of winning this historic election, donald trump is apparently keeping out of spotlight. Hunkered town in trump tower apartment just up the street with family and advisers, so what do we expect next . Peter barnes is right there. Hes outside trump tower. And tell us what the atmosphere is like outside and what they expect from the president elect. Right now, the security here is very high in a pinch with Donald Trumps victory last night. The new york police and secret service have moved in giant dump trucks right in front of trump tower, now the residence of the president elect. So security here very high. Also a circuslike atmosphere. Weve got supporters and of trump and protesters out here on the street. A lot of tourists taking pictures. The naked cowboy from times square made his way over here. As for the candidate, he is laying low. We did hear from him twice, both through social media. He tweeted out under the new handle, president elect of the United States, the real donald trump. Such a beautiful and important evening, the forgotten man and woman will never be forgotten again, well come together as never before. And sent a thankyou note to supporters america is a beacon of hope where the impossible is possible. We heard from House Speaker paul ryan on trumps victory. He had kept his distance from the president elect during this campaign but singing a different tune today. Listen. Look at it this way. Our House Majority is bigger than expected. We won more seats than anyone expected and much of that is thanks to donald trump. Donald trump provided the kind of coattails that got a lot of people over the finish line so that we could maintain our strong house and senate majorities. Reporter and among the other sights to see was a tshirt which said from a trump supporter which read president donald trump, the revenge of the deplorables. Liz . Liz theyll print anything in about 17 minutes here in new york city and get it out there on the street on the corner vendor areas. Peter barnes live from trump tower. Donald trump during the campaign made all kinds of promises. He said he would reform the tax code. He said he would repeal obamacare. He also said he would dismantle the regulation known as doddfrank which some believe has hemmed in banks abilities to make a lot of money. All of the potentials as president elect donald trump promises to attack in the first 100 days of Office Especially now with republicans controlling both the house and the senate. Charlie gasparino joins me on the most likely place for him to start. These things are sometimes glacial and paste. They take a long time to change. They do. Obamacare is not something you can just reverse in a minute. We know that. Building a wall between the u. S. And mexico is going to be very difficult and costly, but theres a ton of lowhanging fruit he can attack, and very positive for the economy. And i think last night when you saw the dow futures, you and i were tweeting and emailing, dow futures getting crushed. I was at a party where a lot of savvy traders were buying into the lowhanging fruit. You can do tax reform because you have the mechanisms and the plans in place, particularly from paul ryan, from steve moore one of the economic advisers in art laffer and larry kudlow, there is good agreement on the republicans who control the house and the senate and the presidency on how to lower Corporate Taxes. How to cut marginal rates, and then you also have the other thing which is regulations. Again, strong agreement from the republicans on getting rid of parts of doddfrank and maybe some of the environmental regulations. Heres the thing, liz, why the market is up and what you hear from traders. They need no buyin from the democrats. If you want to pass Corporate Tax reform right now. You want to lower tax, cut regulations, you can do it without having to give senator Elizabeth Warren a dime or any say. Thats the thing hanging over the markets, the republicans lost the senate, if they lost the senate, as a member of the banking committee, it would have been sharon brown, you know she would have had a lot of stroke on pochlts she has no stroke on policy. She is out of policy making equation and if you notice, bank stocks are all up today, and thats because the combination of getting rid of doddfrank and chief antagonist Elizabeth Warren is out of the picture. By the way, i found this last night, put it like, this men for trump. Can you see that . Liz yeah just so you know. I was a huge critic of him. I still remain bothered by how he ran his campaign. Ill still keep criticizing him as a reporter should do, the plans are progrowth. Liz ill quote neil cavuto, we of the picnic, we are always looking out for our viewers. We follow that rule to the t. Liz i know you do, charlie. A lot of people do. You do. Neil does. Liz are you kidding . I love that aqua degio that you wear. Thank you. Liz folks, you may have witnessed history here, the alltime record for the dow industrials, 47 minutes before the closing bell rings. Caterpillar, is a big earth mover among the leaders of the dow 30 on hopes that a President Trump will follow through on the promise to improve american infrastructure, bridges, tunnels, roadways. Caterpillar would be a beneficiary, and traders think thats one way that President Trump could he enomy, but what do the billionaire investors think . Billionaire investor jeff green whether all the optimism that the American Economy is about to blossom under a Trump Administration is for real . Live from the floor of the New York Stock Exchange on extraordinary trading day. Glad you are with us. Were coming right back. I have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo opens up airways to help improve breathing for a full 24 hours. Breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. Breo is not for people whose asthma is well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. Do not take breo more than prescribed. See your doctor if your asthma does not improve or gets worse. Ask your doctor if 24hour breo could be a missing piece for you. See if youre eligible for 12 months free at mybreo. Com. Liz folks, we need to get you some breaking news here. Nor than 100 firefighters are struggling to contain a massive blaze. This is at the former bethlehem steel site in pennsylvania. The fire was sparked when a hot lightbulb fell onto cardboard inside the building. Massive amounts of black smoke choking the area. Motorists are expected to stay away right now. This is a live picture. We need to make sure that everybody is safe at the moment. This comes as steel stocks surge after Donald Trumps victory. Steel, of course, turned into that rust belt sad story and ohio and pennsylvania, now we have u. S. Steel, a. K. Steel and commercial metals expected to benefit from trumps protectionist trade policies. Donald trump said he wanted to bring back mining and steel. We have this news out of the oil and gas industry, a new administration could mean new life for the Keystone Pipeline not left for dead here. Transcanada has just released a statement and saying its still fully committed to building the pipeline saying we are evaluating ways to engage the new administration on the benefits, the jobs and the tax revenues this project brings to the table. Let me bring in option Senior Market strategist Alan Knuckman standing by at the cme in chicago. Alan, people have been concerned when it comes to oil that there would be a further glut, he has pledged to open all federal land and water for fossil fuel exploration, what does that mean for water which trending higher right now . Reversal, threemonth lows and higher close, after a 15 drop. There are a lot of moving pieces obviously with whats happening today, but looking at oil, there are three key things im focusing on right now. Right now i think we want to focus on the infrastructure build, that could be positive for energy, and increased demand there. Then we want to look at, you talked about the interior, you know, that could be that could add supply, but there are a couple of other things i think could benefit this market. Number one, the iran deal, irans production could be curtailed if that situation changing dramatically, obviously, thats part of the reason weve seen the markets move lower in the last few months. Liz i need to interrupt you, hold that thought. We have breaking news here. The dow just bested the alltime closing high. We are now above it at the moment, 18,646. Seeing a gain of 312 points, the previous alltime closing high and may close below. That 18,636. Were above it right now. Alan, to your third point, go ahead. Third point gets back to stocks. Its been a long time but were going to have a positive growth quarter in the stock market. It didnt look like it but now that were finishing up this quarter, this is going to be positive growth. We havent seen that in a year quarter after quarter, and if we looked at 2017, theres continued stock market earnings growth. So thats a big deal weve pushed forward, and thats very much a positive sign for the economy and for corporations and obviously the use of crude oil. Liz Alan Knuckman at the cme. I dont know how crazy it is for you there, were hearing the decibels, very close to the highs of the session. S p up 29 points. When we started at this hour, the gain had been up 28 points. Here we go with a gain of 306 points at this moment for the dow industrials. Will we close here . That would be a brandnew alltime record high with the closing bell ringing in 38 minutes. Donald trumps victory putting World Leaders on notice. The uks theresa may, russias vladimir putin, Germanys Angela Merkel with Major Economic and Global Concerns to address with the new president. Former Bush National intelligence director, ambassador John Negroponte was the ambassador to mexico, too. So this adds a fascinating twist into the conversation. Hell tell us if the billionaire businessman is prepared for the challenges of the world stage . More countdown on the way. Were at record numbers right now. At least for the dow. Stay tuned. The pursuit of healthier. It begins from the second were born. Because, healthier doesnt happen all by itself. It needs to be earned every day. Using wellness to keep away illness. And believing a single life can be made better by millions of others. As a Health Services and Innovation Company optum powers modern healthcare by connecting every part of it. So while the world keeps searching for healthier were here to make healthier happen. Seconds can mean the difference between life and death. 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