Transcripts For FBC Countdown To The Closing Bell With Liz C

Highly coveted spot for secretary of state continues coming through the door into the golden elevator, the biggest one of them all ceo of exxonmobil who went around the back way quietly meeting with the president elect. With us live the trump insider fresh off his own meeting at trump tower, in his first meeting since the interview, richard grunel gives us a sneak peek what happens when you get off the golden elevator and what donald trump is looking for in his next secretary of state . Boy, did we hear from this man when he called the Trump Administration disastrous, what they now say will send the markets into a frenzy. With me live straight ahead. The russell 2000 hitting a lifetime high as the dow viciously fights for 20th record close of the year. Folks, anything can happen. Were less than an hour to the closing bell. Lots of breaking news, lets start the countdown. Breaking news, two major stocks popping at this moment on the news we told you about. Look at sprint. Along with tmobile. I looked at it, it was up nearly 4 , now up 5. 63 . Tmobile jumping 2. 5 . Why . The chairman of sprint who is the ceo of Softbank Masayoshi son inteek donald trump. The president elect could pop out at any moment, heading to north carolina, well take the shot any moment that we see him. As you can tell, a lot is happening with the last seven minutes, we are not just keeping a close eye on the elevator but the russell 2000. New lifetime highs this afternoon, on pace for a record close. The number you need to watch, 1347. 20. Were above it at the moment, it would be the tenth record close since election day for the russell. Lets get to things that arent doing as well. The woes for chipotle, not over yet. The popular mexican chain is down 8 following comments made by steve ellis at investment conference. Saying that the company is nervous about hitting guidance and considering menu increases. Price increases next year. Ellis said he expects to make an announcement shortly about new Board Members following bill ackman taking a nearly 10 stake in the company. And one day after our countdown closer in the show, Michael Binger recommended you buy verizon, its a big leader on the dow. The Telecom Giant jumping 1. 5 , why . It came out with the news it would sell 29 data centers for an allcash deal. That is lifting other telecom and media boats, Frontier Communications has an attractive dividend. At t, charter, seeing significant gains today. Frontier up 2. 5 . Let me get to this, crowds of air force members are waiting to greet president obama at Macdill Air Force base in florida. Youre looking at the podium where the president will speak. Hes expected to speak with the troops at any moment before finally make final Foreign Policy speech his administration. But while the president probably wants a lot of attention paid to that speech, its his mode of transportation thats in focus, thanks to this, the president elect taking aim at air force one, the plane. An incoming verbal assault in the form of this tweet from real donald trump. Boeing stock reacted immediately. We put up the intraday, its come up off the floor. Just after that tweet came out, it fell about 1. 1 on the news, it is currently down just a fraction of a percent, but damage was definitely done. We thought lets bring in kevin corke with the latest on the fallout from the president elects comments about the plane and its manufacturer, kevin . Reporter good afternoon to you. Were talking about replacing a pair of 747200s with a pair of modified 7478s. The government and the air force made deals with boeing back in january and in july in which boeing agreed to certain design aspects of the new aircraft. Talking about the interior, the electrical, the power and the maintenance systems, but theres a lot more to the story, its about as you pointed out aptly, dollars and cents. Gao, the Government Accountability office estimated in march the entire cost would be 3. 2 billion from 2010 through 2020, that includes 2 billion for research and development, thats too steep a price for the president elect. The plane is totally out of control. Its going to be over 4 billion for air force one program, and i think its ridiculous. I think boeing is doing a little bit of a number. We want boeing to make a lot of money, not that much money. Reporter all right, what does boeing have to say about that . It says in part and obviously josh earnest, the White House Press secretary echoing that today in the Gaggle Aboard Air Force one on his way down to florida with the president. He said listen, you all know as members of the press the unique capabilities but challenges you have in riding aboard the president ial aircraft, and he was hopeful that eventually all sides could come together, liz, and agree this is a project worth taking on. The big question remains, what price . Liz like the play on words. Thank you so much, kevin corke. The Trump Transition Team is telling fox business that the president elect emptied his portfolio of all stocks in june including boeing. We know that he once owned between 50 and 100 shares. His public attack on the publicly traded company wouldnt be a personal benefit because he sold before the stock moved higher and fell today, but just as trump tooketh this weekend, its supposed to taketh, he has given to sprint and tmobile. Charlie gasparino was talking about this yesterday, now its almost exploded in magnitude. You and i amazingly enough yesterday were talking about when is the last time a president was going out there and having a Material Impact on stocks based on liz individual stocks. President s have gone after industries, obama went after the coal industry. Liz he went after privatized prisons. I dont remember a president going after individual stocks. The Business Reporter in me loves this, this is going to be a theme throughout, i believe, his administration so, as investors you have to watch fox business to figure out whats going on here, but as we said, he took market cap away from boeing, its coming back a little bit, but there might be a billion dollars worth of market cap that got whacked out of this company when trump attacked it, saying hes going to canceled orders. The orders in and of itself arent the reason its going down. When you have the president of the United States putting a black mark on you and youre boeing, traders get scared. Today, saying good things about softbank reverberates into other stocks. Be clear, softbank and Masayoshi Son are the major owner of sprint. Sprints attempted merger of tmobile rejected by the obama administrations fcc and department of justice. Look at sprint right now. Up nearly 5 , just a second ago it was up how about tmobile . Liz it is also up 2 . This is fascinateing. People believe it would be a friendlier attempt at a merger. The United States is incredibly powerful when it comes to deals like this. He appoints the head of the fcc, Jeff Sessions is going to be head of the justice department. Chee control this deal, this is going to be a huge story going forward. I will say this, liz, the Business Reporter in me loves this, this is realtime, there is going to be algorithms that are going to be following Donald Trumps tweets, which im sure there are already. Liz people are putting in all kinds of things like caller. Were heading into interesting uncharted territory. He knows what hes doing here. Liz let me ask you about tmobile, then, do you think you have the algorithms or highfrequency traders putting in buy and sell programs because sure, the stock is going to go up. That doesnt mean it deserves to go up. I believe its a reactive thing, its good to have the exxonmobil ceo as secretary of state. Well see what happens. That is a little more amorphous than him going after the company, what he did with rexinord. Is that it . Liz rexinord. It is appropriate for companies. Liz United Technologies which is the owner of carrier. That was different. They cut a deal and he said this is what were doing. Liz this is the chart. He attacked the stock, he knew hisweet would have Material Impact on the stock and he went after it, and its almost extortion. Liz he doesnt own the stock, be fair, he doesnt own the stock. Hes not extorting political value out of this. Liz has the sec set a precedent, has someone been busted for this . No, but its gray, according to everybody. Not that i know of. Its gray according to everybody i speak to, to basically get a material gain by manipulating a stock down might violate securities laws. By the way, just so you know, once he becomes president , he has a degree of immunity for this stuff, you probably cant theoretically go after him, but as president elect, which he is right now, hes fair game, just so you know. Liz and by the way, tmobile is up more than 2. 5 . Could it be a brandnew reinvigorated target of sprint which is owned by Masayoshi Son. Were going to be reporting this realtime every day, this guy is going to be moving markets and stocks. And fox business and you have done that brilliantly, thats why our viewers, especially the faithful once, you know who you are, are in the right place and business brings us to carry cohn of Goldman Sachs who has been seen at trump tower . Numerous times. Maybe there is a reason to buy Goldman Sachs stock, dont do it on my word. Gary cohn is the longtime number two of Lloyd Blankfein at Goldman Sachs and itches for the top job. He is rumored to be Trump Energy Secretary or head of the omb, i understand from people, he and trump got along very well. Trump, quote, unquote loved him. This is coming from friends of gary cohn, gary cohn has threatened to leave Goldman Sachs up until a couple of years ago. This is a reoccurring theme. He wants to be ceo. Friends are saying hes telling them he wants out. Hes likely to leave. I cant give you any timetable. For all i know, tomorrow hes going to say i want to stay. Great job, travel around the world, make a lot of money. Hes telling people hes got one foot out the door and would like to work for the administration. The two places i hear, maybe something else, the two names i hear, omb, energy department, remember he was a commodities trader. Liz were going to keep our eye on sprint, it is spiking. Other things that are moving, not necessarily in that direction with the closing bell 48 minutes away, nike, the biggest drag on the dow 30. Right there. Cisco second worst, right now nike because cohn cut rating of the sportswear giant to market perform over worries nike cant do it with stiff competition with the likes of adidas and under armour which just signed to do all the uniforms for major league baseball. And to netflix, extending the blood line, the online streaming giant investing 6 billion on more than a thousand hours of original programming for 2017. Unlike nike, the competition is no threat to netflix, according to an upgrade from a sell to a hold and 10 increase on the price target. Netflix up 5. 11. To 124. 34. Up next, the floor show, and the man who warned the trump economy would be disastrous. He did it right here on fox business. You guys, boy, did we hear from you. You hated what he said bill gross, lets bring him back, hes got new news on his position. Is he standing pat, changing or doubling down . He joins us on countdown. Dont go away. Generosity is its own form of power. You can handle being a mom for half an hour. Im in all the way. Is that understood . I dont know what shes up to, but its not good. Cant the world be my noodles and butter . Get your mind out of the gutter. Mornings are for coffee and contemplation. That was a really profound observation. You got a mean case of the detox blues. Dont start a war you know youre going to lose. Finally you can now find all of netflix in the same place as all your other entertainment. On xfinity x1. Liz folks, there is no shortage of action on wall street at this very moment. Look at the dow first, we are in record territory, could be the 20th record close of the year, but i want to let you know and this happened in the last hour yesterday during this show, we got that record, but we lost a lot of the gains. High of the session, up 25. Right now up 11. Touch and go here, in record territory. The russell 2000 looking at tenth record of the year, actually the tenth since election day. Can anything derail the runup in stocks. Lets get to the floor show. Hi, john, records today . All . None, one of them . Russell obviously is going to stay there, and we continue to see the trend as the market moving higher. The one thing i would like to see more of is more volume. Not enough volume on the tape to show there is real investor into the market. We saw a lot of i. M. After the election, to be expected. Next week we have december 14th, big fed announcement. Everyone is forced to not do anything at this point. No one is going to make a significant be the market is going to go. Not knowing exactly how the 14th is going to play out or the effects of that day. Liz the reason were showing one month charts is they encompas election day. Anyone who didnt capitalize on this. Money managers included. Who could have foreseen, polls said trump wouldnt win. Once you saw he won, you see there was a real opportunity here, todd colvin, are you seeing flows continue or doubt coming into peoples minds or the volatility or fear index is at a threemonth low which shows people arent that nervous, but do you see people too tentative when they shouldnt be possible or vice versa . Maybe this is a high for a recent time. The market is driven by two forces, fear and greed, greed is driven by change, there is no reason to dump your stocks yet, especially with the trend that were seeing. Likewise, the fed meeting next week, boe meeting next week, ecb meeting, you think there might be a hiccup in volatility. I say stay the course in equities, youre going to have a big surge in january as well when the tax holiday comes in, in late january or early february. This is preemptive buying and staying the course ahead of the events. Liz again a lot of events, id be remiss if i didnt mention but names like sprint and tmobile are spiking because the president elect has been inserting himself or making comments that tend to move these names john corpina and come as a surprise for people. Boeing was hammered early in the session, coming back right now. What do the traders think of that on the floor . So interested to know how they perceive anything like that . I dont think weve had a president that infused himself so much in the in wall street and individual stocks, knowing hes going to have such a significant effect on it, let alone tweets and any comments is going to make a movement in any of these stocks. I think what were conditioned to over a short period of time is letting the comments digest and see how stocks react before acting on it. Some of the stocks quickly come back where they should be. At this point, right now, we are clearly watching everything that president elect trump says but have to make sure were not overreacting to it. Liz for better or worse, hes moved equities, elliott, im wondering if the same applies to commodities, oil at the nymex, which is what you watch. Hes had Rex Tillerson, the ceo of exxonmobil inside trump tower. Oil is pulling back today. We can look at it for the moment, snaps a fourday win streak here. Is it more opec or could the president elect have the president for better or worse of moving an entire commodity . Well, you know what, liz, theres a bunch of things we have to look at. There is a humongous glut, right . We see the spike in price because of the opec thing. I have spoken to you on this topic about crediting the president with the rally in the stock market, i would say for crude, screwed more driven by market forces, right . I would say beware of Hedge Fund Guys saying crude is going to rally, they could be talking up their book. Liz is that the truth. It is the truth. I was here a month ago talking about crude, saying jokingly but i said crude 50 for the rest of our life. I dont see any reason to change that. I dont agree with 67 a barrel. Liz russias output alone is at 30year highs. As we watch all of this. Too much excess when it comes to inventory. Great to see all of you. Good spirited discussion, john, todd, elliott, thank you very much. Thanks liz. Liz any time, you know i love you guys. The dow industrials in record territory, up 12 points. John corpina said it might not hold. Russell at a record. Tweeting terror, the heinous video that outraged millions online of people being marched to their death. Proudly tweeted out by nefarious forces. Now tech titans say theyre joining forces to make sure that never happens again. Their plan to target terrorist propaganda coming up. And donald trump just in the last 30 minutes wrapped his arms around big business in what some say could be a good or bad way. Were going to tell you what it all means straight ahead as he put his arm around the chairman of sprint and the head of softbank. Blake burman saw it all, videotaped it all. Hes live from trump tower where mr. Trump made the massive business announcement. Its moving stock as we told you. Countdown coming right back. U. My Insurance Company definitely doesnt have that. You can leave worry behind when liberty stands with you™ Liberty Mutual insurance liz tech titans, facebook, google, microsoft, and twitter are joining forces to curb explicit terrorrelated content on the internet. Here is what happens. The Companies Say they are building new technology that will identify extremist material including recruitment videos and images of executions. It is a digital fingerprint known as hash, it will be attached to online content, sort of like a water mark, making illicit material easy to identify and more importantly, to remove. The project will be presented at the Trump Administration<\/a> disastrous, what they now say will send the markets into a frenzy. With me live straight ahead. The russell 2000 hitting a lifetime high as the dow viciously fights for 20th record close of the year. Folks, anything can happen. Were less than an hour to the closing bell. Lots of breaking news, lets start the countdown. Breaking news, two major stocks popping at this moment on the news we told you about. Look at sprint. Along with tmobile. I looked at it, it was up nearly 4 , now up 5. 63 . Tmobile jumping 2. 5 . Why . The chairman of sprint who is the ceo of Softbank Masayoshi<\/a> son inteek donald trump. The president elect could pop out at any moment, heading to north carolina, well take the shot any moment that we see him. As you can tell, a lot is happening with the last seven minutes, we are not just keeping a close eye on the elevator but the russell 2000. New lifetime highs this afternoon, on pace for a record close. The number you need to watch, 1347. 20. Were above it at the moment, it would be the tenth record close since election day for the russell. Lets get to things that arent doing as well. The woes for chipotle, not over yet. The popular mexican chain is down 8 following comments made by steve ellis at investment conference. Saying that the company is nervous about hitting guidance and considering menu increases. Price increases next year. Ellis said he expects to make an announcement shortly about new Board Members<\/a> following bill ackman taking a nearly 10 stake in the company. And one day after our countdown closer in the show, Michael Binger<\/a> recommended you buy verizon, its a big leader on the dow. The Telecom Giant<\/a> jumping 1. 5 , why . It came out with the news it would sell 29 data centers for an allcash deal. That is lifting other telecom and media boats, Frontier Communications<\/a> has an attractive dividend. At t, charter, seeing significant gains today. Frontier up 2. 5 . Let me get to this, crowds of air force members are waiting to greet president obama at Macdill Air Force<\/a> base in florida. Youre looking at the podium where the president will speak. Hes expected to speak with the troops at any moment before finally make final Foreign Policy<\/a> speech his administration. But while the president probably wants a lot of attention paid to that speech, its his mode of transportation thats in focus, thanks to this, the president elect taking aim at air force one, the plane. An incoming verbal assault in the form of this tweet from real donald trump. Boeing stock reacted immediately. We put up the intraday, its come up off the floor. Just after that tweet came out, it fell about 1. 1 on the news, it is currently down just a fraction of a percent, but damage was definitely done. We thought lets bring in kevin corke with the latest on the fallout from the president elects comments about the plane and its manufacturer, kevin . Reporter good afternoon to you. Were talking about replacing a pair of 747200s with a pair of modified 7478s. The government and the air force made deals with boeing back in january and in july in which boeing agreed to certain design aspects of the new aircraft. Talking about the interior, the electrical, the power and the maintenance systems, but theres a lot more to the story, its about as you pointed out aptly, dollars and cents. Gao, the Government Accountability<\/a> office estimated in march the entire cost would be 3. 2 billion from 2010 through 2020, that includes 2 billion for research and development, thats too steep a price for the president elect. The plane is totally out of control. Its going to be over 4 billion for air force one program, and i think its ridiculous. I think boeing is doing a little bit of a number. We want boeing to make a lot of money, not that much money. Reporter all right, what does boeing have to say about that . It says in part and obviously josh earnest, the White House Press<\/a> secretary echoing that today in the Gaggle Aboard Air Force<\/a> one on his way down to florida with the president. He said listen, you all know as members of the press the unique capabilities but challenges you have in riding aboard the president ial aircraft, and he was hopeful that eventually all sides could come together, liz, and agree this is a project worth taking on. The big question remains, what price . Liz like the play on words. Thank you so much, kevin corke. The Trump Transition Team<\/a> is telling fox business that the president elect emptied his portfolio of all stocks in june including boeing. We know that he once owned between 50 and 100 shares. His public attack on the publicly traded company wouldnt be a personal benefit because he sold before the stock moved higher and fell today, but just as trump tooketh this weekend, its supposed to taketh, he has given to sprint and tmobile. Charlie gasparino was talking about this yesterday, now its almost exploded in magnitude. You and i amazingly enough yesterday were talking about when is the last time a president was going out there and having a Material Impact<\/a> on stocks based on liz individual stocks. President s have gone after industries, obama went after the coal industry. Liz he went after privatized prisons. I dont remember a president going after individual stocks. The Business Reporter<\/a> in me loves this, this is going to be a theme throughout, i believe, his administration so, as investors you have to watch fox business to figure out whats going on here, but as we said, he took market cap away from boeing, its coming back a little bit, but there might be a billion dollars worth of market cap that got whacked out of this company when trump attacked it, saying hes going to canceled orders. The orders in and of itself arent the reason its going down. When you have the president of the United States<\/a> putting a black mark on you and youre boeing, traders get scared. Today, saying good things about softbank reverberates into other stocks. Be clear, softbank and Masayoshi Son<\/a> are the major owner of sprint. Sprints attempted merger of tmobile rejected by the obama administrations fcc and department of justice. Look at sprint right now. Up nearly 5 , just a second ago it was up how about tmobile . Liz it is also up 2 . This is fascinateing. People believe it would be a friendlier attempt at a merger. The United States<\/a> is incredibly powerful when it comes to deals like this. He appoints the head of the fcc, Jeff Sessions<\/a> is going to be head of the justice department. Chee control this deal, this is going to be a huge story going forward. I will say this, liz, the Business Reporter<\/a> in me loves this, this is realtime, there is going to be algorithms that are going to be following Donald Trumps<\/a> tweets, which im sure there are already. Liz people are putting in all kinds of things like caller. Were heading into interesting uncharted territory. He knows what hes doing here. Liz let me ask you about tmobile, then, do you think you have the algorithms or highfrequency traders putting in buy and sell programs because sure, the stock is going to go up. That doesnt mean it deserves to go up. I believe its a reactive thing, its good to have the exxonmobil ceo as secretary of state. Well see what happens. That is a little more amorphous than him going after the company, what he did with rexinord. Is that it . Liz rexinord. It is appropriate for companies. Liz United Technologies<\/a> which is the owner of carrier. That was different. They cut a deal and he said this is what were doing. Liz this is the chart. He attacked the stock, he knew hisweet would have Material Impact<\/a> on the stock and he went after it, and its almost extortion. Liz he doesnt own the stock, be fair, he doesnt own the stock. Hes not extorting political value out of this. Liz has the sec set a precedent, has someone been busted for this . No, but its gray, according to everybody. Not that i know of. Its gray according to everybody i speak to, to basically get a material gain by manipulating a stock down might violate securities laws. By the way, just so you know, once he becomes president , he has a degree of immunity for this stuff, you probably cant theoretically go after him, but as president elect, which he is right now, hes fair game, just so you know. Liz and by the way, tmobile is up more than 2. 5 . Could it be a brandnew reinvigorated target of sprint which is owned by Masayoshi Son<\/a>. Were going to be reporting this realtime every day, this guy is going to be moving markets and stocks. And fox business and you have done that brilliantly, thats why our viewers, especially the faithful once, you know who you are, are in the right place and business brings us to carry cohn of Goldman Sachs<\/a> who has been seen at trump tower . Numerous times. Maybe there is a reason to buy Goldman Sachs<\/a> stock, dont do it on my word. Gary cohn is the longtime number two of Lloyd Blankfein<\/a> at Goldman Sachs<\/a> and itches for the top job. He is rumored to be Trump Energy Secretary<\/a> or head of the omb, i understand from people, he and trump got along very well. Trump, quote, unquote loved him. This is coming from friends of gary cohn, gary cohn has threatened to leave Goldman Sachs<\/a> up until a couple of years ago. This is a reoccurring theme. He wants to be ceo. Friends are saying hes telling them he wants out. Hes likely to leave. I cant give you any timetable. For all i know, tomorrow hes going to say i want to stay. Great job, travel around the world, make a lot of money. Hes telling people hes got one foot out the door and would like to work for the administration. The two places i hear, maybe something else, the two names i hear, omb, energy department, remember he was a commodities trader. Liz were going to keep our eye on sprint, it is spiking. Other things that are moving, not necessarily in that direction with the closing bell 48 minutes away, nike, the biggest drag on the dow 30. Right there. Cisco second worst, right now nike because cohn cut rating of the sportswear giant to market perform over worries nike cant do it with stiff competition with the likes of adidas and under armour which just signed to do all the uniforms for major league baseball. And to netflix, extending the blood line, the online streaming giant investing 6 billion on more than a thousand hours of original programming for 2017. Unlike nike, the competition is no threat to netflix, according to an upgrade from a sell to a hold and 10 increase on the price target. Netflix up 5. 11. To 124. 34. Up next, the floor show, and the man who warned the trump economy would be disastrous. He did it right here on fox business. You guys, boy, did we hear from you. You hated what he said bill gross, lets bring him back, hes got new news on his position. Is he standing pat, changing or doubling down . He joins us on countdown. Dont go away. Generosity is its own form of power. You can handle being a mom for half an hour. Im in all the way. Is that understood . I dont know what shes up to, but its not good. Cant the world be my noodles and butter . Get your mind out of the gutter. Mornings are for coffee and contemplation. That was a really profound observation. You got a mean case of the detox blues. Dont start a war you know youre going to lose. Finally you can now find all of netflix in the same place as all your other entertainment. On xfinity x1. Liz folks, there is no shortage of action on wall street at this very moment. Look at the dow first, we are in record territory, could be the 20th record close of the year, but i want to let you know and this happened in the last hour yesterday during this show, we got that record, but we lost a lot of the gains. High of the session, up 25. Right now up 11. Touch and go here, in record territory. The russell 2000 looking at tenth record of the year, actually the tenth since election day. Can anything derail the runup in stocks. Lets get to the floor show. Hi, john, records today . All . None, one of them . Russell obviously is going to stay there, and we continue to see the trend as the market moving higher. The one thing i would like to see more of is more volume. Not enough volume on the tape to show there is real investor into the market. We saw a lot of i. M. After the election, to be expected. Next week we have december 14th, big fed announcement. Everyone is forced to not do anything at this point. No one is going to make a significant be the market is going to go. Not knowing exactly how the 14th is going to play out or the effects of that day. Liz the reason were showing one month charts is they encompas election day. Anyone who didnt capitalize on this. Money managers included. Who could have foreseen, polls said trump wouldnt win. Once you saw he won, you see there was a real opportunity here, todd colvin, are you seeing flows continue or doubt coming into peoples minds or the volatility or fear index is at a threemonth low which shows people arent that nervous, but do you see people too tentative when they shouldnt be possible or vice versa . Maybe this is a high for a recent time. The market is driven by two forces, fear and greed, greed is driven by change, there is no reason to dump your stocks yet, especially with the trend that were seeing. Likewise, the fed meeting next week, boe meeting next week, ecb meeting, you think there might be a hiccup in volatility. I say stay the course in equities, youre going to have a big surge in january as well when the tax holiday comes in, in late january or early february. This is preemptive buying and staying the course ahead of the events. Liz again a lot of events, id be remiss if i didnt mention but names like sprint and tmobile are spiking because the president elect has been inserting himself or making comments that tend to move these names john corpina and come as a surprise for people. Boeing was hammered early in the session, coming back right now. What do the traders think of that on the floor . So interested to know how they perceive anything like that . I dont think weve had a president that infused himself so much in the in wall street and individual stocks, knowing hes going to have such a significant effect on it, let alone tweets and any comments is going to make a movement in any of these stocks. I think what were conditioned to over a short period of time is letting the comments digest and see how stocks react before acting on it. Some of the stocks quickly come back where they should be. At this point, right now, we are clearly watching everything that president elect trump says but have to make sure were not overreacting to it. Liz for better or worse, hes moved equities, elliott, im wondering if the same applies to commodities, oil at the nymex, which is what you watch. Hes had Rex Tillerson<\/a>, the ceo of exxonmobil inside trump tower. Oil is pulling back today. We can look at it for the moment, snaps a fourday win streak here. Is it more opec or could the president elect have the president for better or worse of moving an entire commodity . Well, you know what, liz, theres a bunch of things we have to look at. There is a humongous glut, right . We see the spike in price because of the opec thing. I have spoken to you on this topic about crediting the president with the rally in the stock market, i would say for crude, screwed more driven by market forces, right . I would say beware of Hedge Fund Guys<\/a> saying crude is going to rally, they could be talking up their book. Liz is that the truth. It is the truth. I was here a month ago talking about crude, saying jokingly but i said crude 50 for the rest of our life. I dont see any reason to change that. I dont agree with 67 a barrel. Liz russias output alone is at 30year highs. As we watch all of this. Too much excess when it comes to inventory. Great to see all of you. Good spirited discussion, john, todd, elliott, thank you very much. Thanks liz. Liz any time, you know i love you guys. The dow industrials in record territory, up 12 points. John corpina said it might not hold. Russell at a record. Tweeting terror, the heinous video that outraged millions online of people being marched to their death. Proudly tweeted out by nefarious forces. Now tech titans say theyre joining forces to make sure that never happens again. Their plan to target terrorist propaganda coming up. And donald trump just in the last 30 minutes wrapped his arms around big business in what some say could be a good or bad way. Were going to tell you what it all means straight ahead as he put his arm around the chairman of sprint and the head of softbank. Blake burman saw it all, videotaped it all. Hes live from trump tower where mr. Trump made the massive business announcement. Its moving stock as we told you. Countdown coming right back. U. My Insurance Company<\/a> definitely doesnt have that. You can leave worry behind when liberty stands with you\u2122 Liberty Mutual<\/a> insurance liz tech titans, facebook, google, microsoft, and twitter are joining forces to curb explicit terrorrelated content on the internet. Here is what happens. The Companies Say<\/a> they are building new technology that will identify extremist material including recruitment videos and images of executions. It is a digital fingerprint known as hash, it will be attached to online content, sort of like a water mark, making illicit material easy to identify and more importantly, to remove. The project will be presented at the Eu Internet Forum<\/a> this thursday. Looking at all stocks involved, theyre down just slightly anywhere from a third to just under half a percent at the moment. The hug heard round the world. This just happened at trump tower. The president elect just moments ago put his arm around softbank founder and ceo who had announced himself a massive plan involving a Huge Investment<\/a> here in the u. S. To create 50,000 jobs. Here in the u. S. , 50 grand, 50,000 jobs, millions of dollars. This as trump is about to depart any moment as he embarks on second stop of his thank you tour. Take to you fox businesss blake burman. Blake you witnesses all of this. Did it stun you . You have to set the scene as it all played out. Reporter out of nowhere, this was a surprise, the president elect came downstairs to the lobby at trump tower. He hasnt done this at all. This was the second time today he did it. First with boeing and then with this announcement. Came down to the lobby of trump tower and stood shoulder to shoulder to announce this investment, 50 billion, to try to create 50,000 jobs. It was first started with a tweet. After the meeting, they came down, this was clearly a message president elect trump. Here he is side by side with the softbank ceo. Ladies and gentlemen. This is masa of softbank of japan. He just agreed to invest 50 billion in the United States<\/a> and 50,000 jobs. And he is one of the great men of industry. So i just want to thank you very much. Thank you. Reporter now, after that, liz, i was able to speak with mr. San, i asked him how were those 50,000 jobs come about . Is it direct hiring, how so . He said they will try to put 50 billion dollars in startup, creating 50,000 jobs. He painted picture of incoming Trump Administration<\/a> the reason for this investment. He told me because of deregulation, he feels there will be energized sense of the economy as he put it to me, that is why theyre making this investment. I pointblank asked him, i said, are you doing this because mr. Trump is the incoming president of the United States<\/a> . And he said to me yes, that is indeed the case. Of course outstanding in all of this, can they create those 50,000 jobs . One thing i would note and leave you with, liz, the thank you tour, that mr. Trump is calling. He is about to depart on that. Last week there was carrier announcement and then thank you stop in ohio. Now we have this announcement and thank you stop in north carolina. Seems to be a little bit of planning potentially behind this one. Liz . Liz he has been a producer, head of a tv show, we know that he knows how to produce these kinds of things. I want to let our viewers know the reason we have sprint on the screen because mr. San is the chairman of sprint. That stock spiked about 5 and 2 3 as soon as we saw the hugged. Moderated a bit. Still up 2 1 3 . Why . Because that company tried to make a merger with tmobile but the fcc under president obama and department of justice said no, we dont like this merger. Perhaps there is a belief there could be a merger. Right now you see the stock on the move. Youre in the perfect place. All of this intersects with the business world. Keep it right here for special coverage of president elect Donald Trumps<\/a> thank you tour. Today it is north carolina. Lou dobbs has it all covered with a twohour broadcast, 7 00 to 9 00 p. M. Eastern. Kennedy at a special time immediately following lou dobbs tonight. Theres a lot of places you never want to see 7. 95. [ beep ] but youll be glad to see it here. Fidelity where smarter investors will always be. If only the signs were as obvious when you trade. Fidelitys active trader pro can help you find smarter entry and exit points and can help protect your potential profits. Fidelity where smarter investors will always be. I use whats already inside me to reach my goals. So i liked when my doctor told me i may reach my blood sugar and a1c goals by activating whats within me. With onceweekly trulicity. Trulicity is not insulin. It helps activate my body to do what its supposed to do. Release its own insulin. Trulicity responds when my blood sugar rises. I take it once a week, and it works 24 7. It comes in an easytouse pen and i may even lose a little weight. Trulicity is a onceweekly injectable prescription medicine to improve blood sugar in adults with type 2 diabetes when used with diet and exercise. Trulicity is not insulin. It should not be the first medicine to treat diabetes or for people with type 1 diabetes or diabetic ketoacidosis. 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With a nonin vo n option cits the holidays at verizon, and the best deals are on the best network. both yes vo with no surprise overages, you can use your data worry free and even carry over the data you dont use. And right now get four lines and 20 gigs for only 40 per line. And, just for the holidays, get a Samsung Galaxy<\/a> s7 edge for only 15 per month. No tradein required. I love you in that, no, i love you in that. No, i love you in that vo hurry, these offers end soon. Get the best deals and the best network, only on verizon. Liz first on fox business, mystery and intrigue surrounding the head of americas largest oil company. Unlike every other charactera c, exxonmobil Ceo Rex Tillerson<\/a> avoided public eye during his meeting with president elect. That is why were showing you file video. Not video of him walking in. He went in a different entrance of the leader of americas Biggest Oil Company<\/a> used a private entrance to get into trump tower. Is this a sign of shift in race for secretary of state . Joining us in first on fox business interview, the man with inside scoop who attends the meetings at trump tower, including you, ric. Former u. S. Spokesman at United Nations<\/a>. You are on the Trump Transition Team<\/a>, at least advising them. Does this give added oomph, to a name like Rex Tillerson<\/a> that he was able to go in unviewed or sort of in the back way . What i love about this, this individual going in is that donald trump is really looking broadly at trying to figure out who is going to be americas top diplomat and there is a whole bunch of information that goes into that. He is exploring it. President elect trump is looking at all angles. I think he is on a quest to figure out what are the right criteria for appointing the top diplomat. From my standpoint, i know many inside of the Trump Transition Team<\/a> are thinking about this, but, reforming the state department has got to be at the top of the list. The state department is desperate for reform. It has gotten way too bloated. It is a targetrich environment at this point. Liz im sure you see positives and negatives when it comes to mr. Tillerson but when you look at the hot spots around the world, you talk about china, there is some concern there especially recently. We could mention what is going on with taiwan and china, but also the middle east is a hot spot. As it pertains to china, we heard jon huntsman, the former governor of utah, has been ambassador to china, he speaks fluent mandarin. He has the important skillset or for example, general petraeus, knows vagaries and different shades of gray when it comes to all drama in the middle east. I dont know, when you think of the worlds biggest problems, those two guys on this pretty broad list seem to me they have more useful skillsets than Rex Tillerson<\/a>. Nothing wrong about him you about he had business deals with venezuela and russia. Okay, but you know, what is donald trump looking for here . I think at this point he is talking to a whole bunch people to figure out what will be the best criteria for trying to pick americas top diplomat. We cant forget to talk about john bolton, who is my old boss, who is just phenomenal. He is loyalist. He is expert on variety of different issues. Youve got rudy giuliani. I think that on his list, one of the reasons why it is taking so long we do have a lot of choices. The Republican Party<\/a> has many people who would be great at secretary of state. Liz but,. Eric , did you just recommend john bolton . Is he your top pick . I would love to know from you. You know these people . John bolton is absolutely my top pick. I know him, i know him to be workhorse and really honest and really loyal. I think he would be a phenomenal secretary of state. Not only he will bring information to president elect trump but at the end of the day, john bolton understands who the president is. He would absolutely implement the trump policies. Liz i have to ask you about taiwan because the president elect did of course take congratulatory phone call from taiwan. I dont see anything wrong with it but i dont know all the moving pieces when it comes to diplomacy. We do know in the past weve seen things like the Taiwan Strait<\/a> crisis, not one, not two, not three, when china perceived some slight. Do you think right now, because donald trump took that congratulatory phone call from the president of taiwan, does not have good relations with china, that china right now is getting ready to do something, buzz taiwan with planes. No. Liz no, really . I dont think so. The chinese know that they had a phone call two weeks, more than two weeks before this congratulatory call. So the chinese phone call between president elect trump and president xi, there was substantive call. It was early, it was first. This taiwan east call was just simple congratulatory call from a democratically elected leader. It is pretty simple. I get people make this a big deal. When you look at the facts, just simply says it was a congratulatory call. And i know that. We have no problem with a congratulatory call from a democratic nation like taiwan. Good to see you you, rick. Thank you so much. I get it has policy implications but i dont think it is that big. Liz ric grenell, former u. N. Spokesman at the United Nations<\/a> of the first on fox business. Thank you. Thanks, liz. Liz 17 minutes away from commanderinchief to negotiator in chief, dow hitting alltime record, 20th of the year. The president elect using carrotandstick approach to keep carrier jobs here in the u. S. , offering major tax breaks but so far no carrot on trumps promise to slap a 35 tariff on firms moving american jobs overseas. Greater new york chamber of commerce ceo and president mark jaffe, what is he thinking about that . He is heading trait to our studio to tell us how businesses in the big apple are preparing for president trump. Are they shaking in their shoes or are they excited . He will tell us coming up. If youre on medicare, remember, the open Enrollment Period<\/a> is here. The time to choose your Medicare Coverage<\/a> begins october 15th and ends december 7th. So call unitedhealthcare to enroll. In a plan that could give you the benefits and stability youre looking for, an aarp medicarecomplete plan insured through unitedhealthcare. What makes it complete . It can combine medicare parts a and b, which is your hospital and doctor coverage with part d Prescription Drug<\/a> coverage, and more, all in one simple plan for a low monthly premium or in some areas, no plan premium at all. An aarp medicarecomplete plan offers you benefits like an annual physical, preventive screenings and most immunizations all for a 0 copay. Youll also have access to a local network of doctors and much more. 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Call unitedhealthcare or go online now. Liz president elect donald trump has during the campaign touted his business expertise. The trump organization, based right here in new york city, has 17 buildings that bear his name right on the front in huge gold letters in most cases. But as trump has gone after carrier in indiana, owned by United Technologies<\/a> and rexnord yesterday which makes ball bearings in wisconsin, and now boeing for all different reasons, done this since Election Night<\/a> what does donald trump really mean for businesses in his home state . There are a lot here in new york. Lets bring in mark jaffe. Ceo and president of the Greater New York<\/a> chamber of commerce. You also worked with ivanka trump on her jewelry line, correct . Correct. More Small Business<\/a> but yes, that is the vital key component of american business. Liz the president elect is new yorker, new york businesses are some of what we say in new york speak, which is yiddish, theyre little nervous what they have seen. Will he go after them next . Compared with what we saw during the election were seeing a more moderate donald trump. He is a new yorker. I think new york businesses will be very happy. Postelection we see rebounds in the stock market. We see decrease in unemployment. Things are looking good. Megadeals happening now, keeping businesses and jobs here and in the United States<\/a> is good for new york. Liz it is intervention though. Im interested in the fact you said he is more moderate but yet piecemeal going after american businesses who plan or have moved jobs overseas or to mexico. Whats moderate about that . Well, hes more moderate than he was during the campaign. However going after jobs and money overseas, repatriating money and jobs here has always been on the agenda for every politician. The key how will he do it. He has unique communications brand. He tweets things out. Liz boeing . Boeing fell because they lost a big contract. Liz you said lost a big contract. He says he would remove the contract. Personally i think it is art of the deal, and he is negotiating be that as it may, everything from pfizer to colgate, throwing things out here, ibm up in poughkeepsie, have you heard from them . Youre with the chamber of commerce here in the state. I think the companies that you mentioned are not that scared after donald trump presidency. First of all he is new yorker. Second of all, youre right, art of the deal, he is a good negotiator. Instead of spending 4 billion to refurbish, as he said perfectly good plane, well get a better deal for taxpayers. Dont misread me. A bean counter we need to get rid of fraud, and waste and abuse. Governor cuomo, all people actively aggressively supported Hillary Clinton<\/a> if he is not nervous maybe businesses shouldnt be nervous, he said after the election, donald trump isnt a threat. He could be quote, a bonus when it comes to the state of new york when it comes to infrastructure project. Governor cuomo is a smart man. Exactly that. Weve been talk about infrastructure, Infrastructure Projects<\/a> used for years to generate the jobs for the economy. Liz could come here to new york. Good to see you, thank you so much. Mark jaffe the man at the chamber of commerce. You have the ear of a lot of businesses. Hopefully they have yours. Dow is up 28. Russell in in record territory. We could see two records at the closing bell which is eight minutes away. Last time bill gross was on, boy did we hear from you guys. His comments were the most clickedon story from foxbusiness. Com when he was on. Here is one tweet i got to grosss pessimistic take on president elects economic plan. He is back. Misspelled, we didnt want to change what bob wrote, but ready to tell us if he thinks the trump economy is still doomed. Is he changing . There he is, bond king bill gross. He is next. Liz bill gross has a note he comes out with every week. A new one is out. He is taking long view on president elect Donald Trumps<\/a> agenda. Here is quote from it. There is no doubt that many aspects of trumps agenda good for stocks and bad for bonds near term. Tax cuts, deregulation, fiscal stimulus et cetera, but longer term investors must consider negatives of trumps antiglobalization ideas which may affect and negatively affect corporate profits. On tv he concludes orange is the new black, but in the markets red in some cases may be the new green applied to future investment returns. Be careful, stay out of jail. Bill gross, fund manager, janus global bond fund. Bill, last time we got a lot of tweets. People say, get him off. These are trump supporters. Do you clearly feel the same are you doubling down on what you feel are dangers in the trump economy and why . No. I have always felt some aspects of trumps potential policies are stimulative for the economy. Ive been dubious in terms of the extent and the level of positives potential treasury secretary looking for 4 growth. I think two plus. I think fiscal stimulus will help. There are negatives with antiglobalization trade types of of ideas and strong dollar. We know the dollar is strong. We know that is not a positive for exporting in terms of corporations. There is one certain negative thing that weve seen in the past two weeks but there are some positives too. Dollar such since the election. Manufacturing orders rear view looking up 2. 7 . That is biggest increase in 1 1 2 years. Dollar continues stronger against euro pound, canadian dollar, et cetera on your screen. Were told to buy low, sell high. One thing that is really low right now in your bailiwick is bonds. Are there bonds youre buying . 24 in high yield, 24 in investment grade. What do you like here that isnt overpriced . Well that, the prices are relatively low. Yields are increasing and are higher than they used to be so thats good. The question becomes on 10year treasury, what is the appropriate level of a 10year treasury now at 2. 4 if the fed starts to raise Interest Rates<\/a> which they will next week, and continue and continues to raise fed funds next year because after stronger economy and rising inflation. Tenyear is appropriately priced right now. Red is negative sign as opposed to positive one. Stocks, you know, which depend on growth and earnings and repatriation of money from overseas that will add perhaps, 2 or 300 billion of support to the stocks market next year, you know, there is more positives there but certainly from the bond side, even high yield bonds i think red is the new green. Liz weve got green on the screen as we finish up with you. Russell and do you look to close in record territory. Thus this concern you or excite you . Record territory is always wonderful. [closing bell rings] it means prices have never been higher but there is a little bubblicious aspect to some of these things and i wonder. Liz when bond goo are you bill gross says bubblicious, that is good way to hand it over to melissa and connell for after the bell. Two records, the russell and the dow. We love that. Connell thank you. Another record, thats right. Youre not getting rid of me. Melissa it is all him. Connell asman is never coming back. Im joking. He is coming back. S p 500 was pretty close. It is trump rally and it rolls on. Im Connell Mcshane<\/a> in for david asman. Melissa there you go. Im melissa francis. This is after the bell. More on the big Market Movers<\/a> but here is what else we have for you coming up this hour. The art of the megadeal. Donald trump scoring a 50 billion investment in the u. S. That could create 50,000 jobs. 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