Transcripts For FBC Countdown To The Closing Bell With Liz C

Wait until you hear what jack ma sells on his site to make in the usa. Mark fields of ford. Did trump beat up on true red, white blue, ford a week afford abandoned plans to open as Assembly Line in mexico. We would ask mark fields what would henry ford think of trumps twitter shaming the Auto Industry. You have to hear what he said. It is important. Were still on dow 20,000 watch. Nasdaq is grabbing headlines in the final hour. Tech and health care driving nasdaq to another record high. Will we see three in a row with the nasdaq. Less than an hour until the closing bell. Start the countdown. Liz how long am i destined to drag this dow 20,000 hat everywhere i go, waiting for the moment the bluechips reach the peak. I cant show it raising the hot, that is very bad juju. Theyre superstitious at the nyse. After friday coming tantalizing close to dow 20,000. Were now flirting at session lows. The dow down 5points. Despite a handful of companies boeing on the shopping spree down 57 points. You have share of Health Pet Care company, vca, ticker, woof, after mars said it would buy the company for 7. 7 billion. Chocolate, pet care, still trying to feel that love there. If you show shares of pharmaceuticals youre definitely celebrating the stock surging 73 at this hour after japans takata pharmaceutical would buy the u. S. Cancer drugmaker valued at 5. 2 billion. Unitedhealth group sending Surgical Care affiliates rallying. Surgical care rising by 15 . Unitedhealth announcing plans to buy the company for 2. 3 billion. Acquisition action here but breaking news at the moment, is the United States about to become chinas Grocery Store . It is ice cold here in new york city but the heat of the business dealmaking world from trump tower is keeping us toasty with the president elect holding a round of meetings involving political and Global Business leaders which could be good news for anyone in the agricultural business. First the politicos led by Senate Majority leader mitch mcconnell, who charged into the golden elevators to discuss the senates plan to repeal and replace palm cair. The meeting grabbing lie anns share of attention, alibaba ceo, jack ma. He has close to a billion users to. Will more purchases be made in america . He was there when jack ma opened a a window what kind ofporter . Talked to mr. Ma about u. S. Agriculture and connecting companies and farmers to 300 million middle last chinese customers, which his company, which is a giant Chinese Internet Company has access to. He talked specifically, about wines and fruits that come from the midwestern part of the United States. So quite specific in his commentary was mr. Ma. The president elect joined him in the trump tower behind me. Joining me more big picture. He added this. You just saw what happened with fiat where they will build a massive plant in the United States in michigan and were very happy and jack and i are going to do some great of lvmh, the large European Company behind Louis Vuitton and other wellknown brands here as well today. When we speak of Business Leaders, there was one Business Leader made news for Different Reasons today, that would be jared kushner, married to trumps daughter ivanka. We learned at fox mr. Kushner plans to take an official role in the Trump Administration as a senior advisor. Mr. Trump said he talked more about that at his wednesday News Conference. No doubt at the wednesday News Conference about nepotism laws will come up. Of those trump nominees confirmed. Liz i see fox business, never mind. Erin this is right, this is fox business logo, earmuffs. Liz we have fox business dixie cups. Everything. Liz connell mack shin. I want a mcshane. I want a fox business sippy cup. President obama makes farewell speech. Fox business has it walltowall, twohour special. Cavuto coast to coast, all begins tomorrow 7 00 p. M. Eastern time. So as donald trump was preparing to hold all the meetings, the president elect took his time to tip his hat to two of the worlds biggest automakers. Taking a victory lap for himself. Donald trump tweeting, finally happening, Fiat Chrysler announced plans to invest one billion dollars in michigan and ohio plants. Adding 2,000 jobs. Afford said it would expand in michigan in the u. S. Instead of building a billion dollar plant in mexico. Thank you ford and fiat. This comes after he first culled out Many Companies for overseas production an one of the most anticipated events of entire year for the Auto Industry kicks off with major unveils by the World Biggest carmakers. It is detroit auto show. Jeff flock with all the big reveals. Jeff, what has to be a theme no one expected a year ago, convincerinchief, donald trump pushing industry stamp made in america on bumpers of these cars. Reporter long shadow of donald trump over the auto show. He hasnt even heard about this one. Were at the latest unveil. This is fac. This is the First Chinese company to display on the main auto show floor. Talking about selling their cars in america. Wait until he gets a load of this one. Some of the executives we talked to today, cheered by Donald Trumps policies and thought that perhaps, there might even be a reduction in the Corporate Tax. Listen to what they had to say. Todays 35 , whether it is 15, 20, or 25, needs to come down. We are looking for we think overall a lower Corporate Tax rate would obviously be better for business and help drive the economy. Well listen in on that as well. Reporter on the other hand, liz, on subject of a border tax, hmmm, that didnt go over so big. Some executives like mary barra not wanting to take donald trump on for the subject, but others like sergio marchionne, Fiat Chrysler ceo, even though he scede yeah well invest more in the u. S. , the thought of a border tax could cause mexican factories to shut down and prices for vehicles to go up. Here is what else he had to say. Were beginning to see with tweeting exercise, that president elect trump has carried out a very clear direction and not, unfortunately because of the fact that he is not sitting in office yet we have not seen articulation of the method to get this done the if. If i ever start tweeting shoot me. Reporter sergio, good time. If i ever start tweeting, shoot me, liz. I dont have those skills. Liz you are on twitter. There is the question whether donald trump is, hey, sticking up for union guys and sticking up for American Workers, that is so welcome to a lot of people. Reporter exactly. Liz looks like indirect protectionism to others. We have to see how this plays out, jeff. Marchionne says i want to build jeeps in the u. S. And export them them overseas. If you put a tax here and suite get a tax on incoming that will screw that up. That works a couple ways. Liz his stock is leader auto stocks. Lets put the stocks up. Jeff, ford, is actually lower today after saying that it will close the whole idea of a mexican plant. As you look at ford, ford is down half of a percent. Im looking at we didnt put, we didnt put Fiat Chrysler up there. The Ticker Symbol is fcau. It is only one up in the green. Up 1 1 2 , a very nice move there for Fiat Chrysler. Everybody else is down. Just remember, ford has been conciliatory toward donald trump. Right now its stock is moving lower. While autos doing what theyre doing today, we know for sure one sector is absolutely getting smacked for the second straight day. Lets get to the new york stock exchange. Lori rothman, what is worrisome, this is perhaps a indirect window what the consumer may or may not be doing. Absolutely, liz. You heard the news with sears and Macys Closing Stores and cutting jobs. At least three Brokerage Firms downgraded price target for jcpenney. Im standing in post six no front of the jcpenney trading post. Its down to 7. 23. Citigroup lowered the weakest price target to 8 from 10. 7 a share, liz, jcpenney is trading below its lowest price target on wall street. We have other laggards, f. Consider, sears, urban outfitters. Look at whole basket of retailers, of 115, 68 are losers. Only gaining are small caps. They target specific customers and offer very zeroed in prospects. Walmart and costco, dicks is on the board. Border adjusted tax proposal plan would cost imports more, really weighing on those shares as well. A news item affecting those as well. Retail leader, smaller caps, aside from those american eagan bell, gap, obviously not a small cap, way fair. 1 gain. Back to you. Liz lori, did you see my hat . I covered the 20,000 . I did. Very clever. I didnt want anybody to get mad at me. Theyre like stevie wonder, very superstitious. Cant show it to you. Were not close. Dow is down 55 points, with the closing bell ringing about 47 minutes from now. Dupont among the leaders on dow 30, maybe successfully presented its case to the your european antitrust regulators, boy are they tough, why the 60 billion merger with dow chemical be allowed to proceed. Donald trump hasnt even weighed in on that merger. He is scrutinizing the one Charlie Gasparino is talking about, at t at t and time warner. Charlie is coming up, exclusive insight from what the president elect wants from his team about that potential deal. It is hard to believe, but it was 10 years ago today that steve jobs introduced apples most successful product, the iphone. Apples market value was 73. 4 billion back then. Today . 620 billion and counting. Apple actually hit a new 52week high this morning, up 1 . Looking pretty strong at 119. 14. More countdown coming up in just a moment. My exclusive interview with mark fields, ford ceo. If you have medicare parts a and b and want more coverage, guess what . You could apply for a Medicare Supplement Insurance Plan whenever you want. No enrollment window. No waiting to apply. That means now may be a great time to shop for an aarp Medicare Supplement Insurance Plan, insured by unitedhealthcare Insurance Company. Medicare doesnt cover everything. And like all standardized Medicare Supplement Insurance Plans, these help cover some of what medicare doesnt pay. So dont wait. Call now to request your free decision guide. It could help you find the aarp Medicare Supplement plan that works for you. These types of plans have no networks, so you get to choose any doctor who accepts medicare patients. Rates are competitive, and theyre the only plans of their kind endorsed by aarp. Remember these plans let you apply all year round. So call today. Because nows the perfect time to learn more. Go long. Im going to the bank, to discuss a mortgage. Ugh, see, you need a loan, you put on a suit, you go crawling to the bank. This is how i dress to get a mortgage. I just go to lendingtree. I calculate how much home i can afford. I get multiple offers to compare side by side. And the best part is. The banks come crawling to me. Everything you need to get a better mortgage. Clothing optional. Lendingtree. When banks compete, you win. Okay . Awkward. Liz you know how we said at the top of the show donald trump might be the most businessfriendly president in decades because he is working to get chinese seller alibaba to push fruit and wine to their 100 million customers, but just as trump giveth he could take away. When it comes to at ts interest in buying time warner. You see the chart in the middle . The that is precisely Charlie Gasparino broke news about time warner and whether donald trump might be working behind the scenes to maybe get more information to impede at t from buying it, charlie. Right. Here is what i want to say. I dont want to suggest that he has made up his mind because from what i understand, there is report out in bloomberg he is telling people he is against it, i dont believe that is accurate. Here is what we know he may be against it, evidence, from what is going on internally that is starting to build, that donald trump is trying to make a case essentially to block this deal. Why would he want to block this deal . Remember time warner owns cnn. Cnn was really bad to him during the campaign. They were very critical of his campaign during the primaries and during the president ial campaign. He has said in the pas he belies that combining cnn with at t would be the too much concentration of power, whether that is real or not it is up to the viewer to decide but clearly this is something that he doesnt like we do know he doesnt like cnn so heres what he has done. We understand, we have it from sources close to the trump transition he is asking advisors to review the time warner deal. He is asking advisors, this is why the stock is down following our reporting, is asking advisors to cite reasons why he should oppose the deal. It is clear he is making a case, at least as of right now to oppose the deal. We should point out two advisors right there, right with him are against the deal, steve bannon, a name, senior counsel. Liz who runs breitbart, arguably a competitive news site with cnn. Who ran breitbart, youre right. Someone who may want to get breitbart tv going and put that on the at t pipes and feels that this would impede that effort. Reince priebus, his chief of staff, former head of the rn. C from what i understand is also against the deal. From what i understand, donald trump critiqued this deal too much a concentration of power. He also said he doesnt like cnn another person in his ear on this thing, kruse ruddy, head of news mack. He had his issues with at t. Liz how does this come off for somebody like you who covered mergers and acquisitions over the years . If president obama somehow prevented News Corporation or fox or rupert murdoch, who of course runs our company, from making some kind of acquisition, the Donald Trumps of the world would be screaming, correct . There would be, there would be an issue. And because, you would think that someone who is coming in, considers themselves probusiness would allow a deal like this to go through but there is also listen, i spoke with chris ruddy about this a few times, the head of newsmax. He does make a conservative case against this deal, Business Case against this deal, free market case against this deal, that at t is so big, they will control 25 of the distribution of programing and that, and through that, they essentially have somewhat of a monopoly where they will, they could squeeze out people like himself. Whether thats true or not, i dont know. I read the wall street journal editorial pages. They think that having, owning pipes there is a lot of access, there is going to be a lot of access through technology, that impeding deals like this only hurts the economy and that there is Technology Brewing there will be other carriers that you could go through where you dont necessarily need at ts pipes which is, which is wireless. They have the whole thing, wireless, cable, you name it. There you go. There are two the arguments. Liz when comcast bought universal, Nbc Universal they had to put promises in place, said you wouldnt squeeze out bloom members and fox businesses of the world because they would own cnbc. There are rules in place, thats what im saying. To impede, some people would look at it as the long arm of government extending into business an capitalism. Yes. And if president elect donald trump does this, people are going to say, okay, do you really there will be an economic argument, are you really against this deal because of, because of the economics liz consumer. Consumer or are you against this which you hate cnn which time warner owns because they were critical of you. Liz former is okay. If there is economics and Consumer Protection issue trump since the election during the election he said, hasnt said anything. Here is what is brewing internally. Im giving what you is going on. Liz the stock is down about a percent after your report that hit 12 30. Youre right. Liz charlie, thank you very much. We updated it here with new information. Liz i about the way we want to remind you, Maria Bartiromo has an exclusive interview with Jpmorgan Chase chairman and Ceo Jamie Dimon thats tomorrow on mornings with maria, beginning 6 00 a. M. Eastern. You bet theyre going to ask what he thinks of donald trump, to get himself involved. Whether he was the offered the job as treasury secretary, right . Liz closing bell, 37 minutes away. Ive got a simple question for you, what would henry ford, the original toughtalking, antigovernment overreach aptallist, think about donald trump attacking automakers over where and how they build their cars . We caught up with current ford ceo, mark fields friday at the Consumer Electronics show. We asked him about the trump attacks, future of Driverless Cars and how he thinks his companys namesake would react to the president elect. Mark fields pointed answer when countdown comes right back. But there wi