Transcripts For FBC Countdown To The Closing Bell With Liz C

Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20170222

Access pipeline are refusing to leave even though right now the 3 00 p. M. Final deadline to vacate has passed. That video you saw is fire. There is a fire currently going on, and were waiting to find you the whats going on there . What officials are going to do, and why negotiations broke down hours ago. William la jeunesse live on the scene to tell us whos burning the protest camps. The Trump Administration dealing with deeper questions in the wake of yesterdays decision to vastly expand the president s crackdown on the illegal immigration. Deporting criminals, he said, is the priority, but what about the socalled dreamers . It all comes as secretary of state Rex Tillerson is headed at this moment for his first meeting with the president of mexico. Trump immigration adviser and kansas secretary of state chris kobac wrote many of the toughest immigration laws in the country. Hell be here live to tell us if the president has it right as he appears to be leaning toward letting dreamers stay. On wall street, march madness, that might jack up Interest Rates and mortgage rates. The fed gave a huge hint whether it will hike rates at the march meeting. Can the dow hold on through the gains of the march jitters . Plus why corn farmers are worried about the wall, and charlie breaks it on Breitbart News and the altright. Thes than an hour to the closing bell. Record number nine for the dow . I dont know. Stay with me. Lets start the countdown. Breaking news could a rate hike be coming in just 16 days . Thats what the minutes from the latest Federal Reserve meeting heavily hinted at. Janet yellen and company made it quite clear and we quote that they could raise as soon as march 15th. So look at the dow intraday chart. The blue chip index just as it was announced for the minutes for the recent meeting was up about 33 points. You see the dip there. A slight recovery at the moment, nowhere near 33 points to the upside. Weve got it up 12 for the dow industrials, pushing higher nonetheless, no matter what gain, even if a tiny percentage, a nanopoint no less, it will be the ninth record in a row. Nine Straight Days of records, the longest streak since january 20th. Way back in 1987 when it went 12 Straight Days of record closes, but we didnt know what happened a few months later. The crash of 87. The dow isnt the only thing hitting records. Trio of bellwethers continue run into positive territory. Apple, facebook hitting intraday, alltime record highs. Apple pulling back fractionally, same with amazon. Facebook up 1. 75 . Cruising to the top of the index norwegian crews lines. Book the cruise. Shares are moving higher 7 . The stock is expect to close at highest since last april. Shares are up 10 month to date alone. Team fox business has the breaking news covered. Cannonball north dakota situation, it is tense at this hour. William la jeunesse at the standoff between the pipeline protesters and the authorities who say deadline has passed, youve got to go. Blake burman hopped out of the spicer Daily Briefing at the white house. Where saving taxpayer dollars was topic number one, and adam shapiro whether the dow can cling to gains considering the fed stepped on the dows fingers. To this breaking news, is the deadline going to be the deadline. Moments ago, 3 00 p. M. Eastern was the deadline for hundreds of activist to vacate the area or face arrest. Lets get right to it, despite a court order, theyre still cling, this is Energy Transfer partners, the Group Building the pipeline can complete the final stretch and pumping oil as soon as two weeks from now . Take a look at pipeline stocks, all down right now. William la jeunesse in the middle of the ashgsz cannonball, north dakota. William, show us and tell us whats happening. We saw there was a fire at one of the camps. Were five minutes past the deadline. Reporter several things, to explain the fires, the protesters setting the structures on fire rather than having them bulldozed and taken out by dump truck or the state or other cleanup crews and consider it a ceremonial effort rather than have them taken down by police. But you can see behind me so officers here and beyond the barricades another 100, 150 officers there, and the arrest was supposed to take place as you said at 2 00 p. M. , but about 30 minutes ago, the protesters left en masse back south of where im at onto the indian reservation. Im here on federal land. The county does have the authority to make the arrest as well as the floodplain where the teepees and tents are that you saw by the tens of thousands, really, several months ago, they have vacated for the most part that prompt some of the structures on fire and turned onto the reservation and do not look like they are going tolingly get in the buses as had been planned. The governor declared this a Public Health hazard area because of the basically the campsite, three of them were in the floodplain and you had abandon cars and propane and kerosene heaters, food, clothing and human waste and supposed to leave by 2 00 p. M. , and the state greed, liz, this is interesting, to have amnesty bus, that was supposed to pull up to where im at and the people would voluntarily get on the bus, get a voucher for a votel room and then a bus to get anywhere in the United States. They obviously did not show up, and then others who wanted to be arrested basically get their picture on the facebook page, tell grand kids, that kind of thing, they also did not show up to the arrest. And so liz, im going to tell you things are changing here as we speak, the media is limited because of where it was supposed to take place. I should have more for you in about an hour. Liz listen, interrupt us, well take you if there is any news on this, william. Appreciate it. You bet. Liz to the white house where the president s lunch was served with federal budget talk. Meeting to talk turkey, the kind of turkey that involves the federal budget. He calls it a mess inherited from the Previous Administration and the president joined by u. S. Treasury secretary Steve Mnuchin said no more weight wasted money, we have a moral duty to do more with less. Fox business blake burman just left sean spicers White House Briefing which came right after the president made those comments, and blake, look, we as a Business Network need clarity how he will do more with less when hes talked about ramping up defense spending and not touching Social Security and medicare . Youre right, talked about ramping up not only defense spending, liz, but Infrastructure Spending and the tax cuts, that is spending, spending, spending, and thencandidate trump when he was campaigning across the country said he would not cut entitlements, so, of course, the question is how are you going to pay for so many of these things but leave entitlements alone . Today there was a major meeting, a couple of them at the white house, one still ongoing and another one this afternoon as it relates to the budget and the president talked about keeping things lean. He said hes got the best in the business who would be able to write the budget folks, hes known for years, and equated it to a moral issue. Listen to President Trump from earlier today. Our moral duty to the taxpayer requires us to make our government leaner and more accountable. We must do a lot more with less, and we must stop the improper payments and the abuses, negotiate better prices and look for every last dollar of saving. Reporter liz, the White House Press Secretary Sean Spicer was asked what are the priorities for the president in this budget . And spicer would not get ahead of the president on this one, saying this is still being worked on. He gave a time frame. A rough time frame of about march 13thish, as he put it. A few more weeks here. Spicer staying is going to go obamacare first, tax cuts second, and in the middle of this, you have the budget unveiled were expecting in a few weeks, liz. Liz that might disappoint the markets but the markets are holding on for the Dow Jones Industrials, but there is the pavlovian dog, every time he mentions the markets, boom, the markets go up. Not so much today. Guess what else is having an impact on the markets . The Federal Reserve minutes released an hour ago. Dont let your eyes glaze over, i continue sounds boring. This stuff moves the market. Will we have a march rate hike . Well, right now it doesnt appear to be that way, even though janet yellen and company emphasize we could raise as soon as march 15th. Just a 17 chance right now being priced in that we would see that. However, if you flip it over to may, which is then the next one after march. That chance is at 49 . June, 72 . Theres a 72 chance priced in that we will see a june rate hike. Okay. Adam shapiro to the new york stock exchange. You know, the markets took a little dip there, nothintoo dramatic, whats moving this market, whats in the psychology now . You know, its a great question to ask, you see Peter Tuchman behind me. Depends which trader, which broker you are asking about, what kind of impact the fed minutes had. And a lot of them said before i spoke to peter that no big deal. Peter pointed out that we had the selloff at 2 00 and you look at fed minutes, were going to get according to the fed still Interest Rate increase, perhaps three of them this year. While most people were expect second half of the year as peter pointed out, looking like two, three weeks, march. The other issue that peter pointed out is one of the reasons we saw the selloff, a bit of indecision from the fed, because they wont make it definitive until they finally do it. Liz . Liz thank you very much, adam shapiro. With the closing bell about 49 minutes away, did you see this . Elon musks spacex nailed the booster landing sunday, touching off a celebration at the Kennedy Space center. There it goes. Watch this. It is kind of a cool thing of beauty of reusable rocket. He wants to be the walmart of rockets. Cheaper, reuse them, no problem. Yeah, right . But hold the tang, todays talking with the International Space station might have Mission Control reaching for the tums. The dragon capsule, did it dock . Well show you. What is going on at Standing Rock this second in the judge ordered protesters to close up camp at the Dakota Access pipeline. Energy transfer partners is ready to get the crude flowing, but now there is still a problem. The protesters have set the camps on fire. American Petroleum Institute ceo jeff girard is here on how much the flow, if it gets finished and going will add to the markets and what might be the fallout . Countdown coming right back. Ive spent my life planting a sizesix, nonslip shoe into that door. On this side, i want my customers to relax and enjoy themselves. But these days its phones before forks. They want wifi out here. But behind that door, i need a private connection for my business. Wifi pro from comcast business. Public wifi for your customers. Private wifi for your business. Strong and secure. Good for a door. And a network. Comcast business. Built for security. Built for business. The spacex launch was a smashing success. The docking, not so much. No scenes like this one this morning. What are you looking at here . This is the dragon capsule that supplies ships and it rendezvouses with the International Space station but had to be scrubbed due to a gps issue. You know, little, little quirk or twerk not twerk. Different word, quirk. The company says theyll try again tomorrow, they were celebrating because the landing was pretty awesome for the reusable booster market. We are watching the stock at the moment. Down just 1 . This is tesla. The other company that elon musk runs, why are we watching it . Coming out with earnings after the bell. Were going to be looking for all kinds of numbers on this. What are the delivery numbers . What about the solarcity growth . This is a company that has shown an epic disrupter ability. Theyre breaking and changing every outdated industry rule. David and Melissa Cheryl and melissa will have the numbers. Cheryl and david. My goodness. Hi, melissa. It is still not clear whether the allclear sign has been given to finish the Dakota Access pipeline. Breaking news, we know, were told by william la jeunesse it is the protesters who set the camps on fire in order to avoid having them be bulldozed by the officials who said you got to get out. Get out of the encampment. They have been protesting this for a whole bunch of reasons, environmental and, of course, the fact that they are the sioux tribe and different areas that matter to them. It will aid the surge in u. S. Production by 8. 9 Million Barrels every single day. Thats according to the latest numbers from the eia. What does that mean for Energy Markets in the economy and jobs . Jeff girard, ceo of the american Petroleum Institute. Take this one chunk at a time. Good to see you. Good to see you. Thats a lot, 8. 9 Million Barrels added into already overflowing domestic output situation we have here. What does that do to prices . I would think it would lower prices. Well, when you look at the supply demand equation of the United States, its quite remarkable whats occurred. We hit our high point in 2015 with 9. 6 Million Barrels a day of production. That dropped back to 8. 4 last year when the market declined. However, were back up over the 8 in the range youre talking about today. Were coming back online, we have more drill rigs back into the market place. A positive sign not only for job creation additional production, because were putting people to work, as the demand side comes back and we hope in the emerging markets theyre able to meet gdp growth, that the United States will become a big supplier not only domestically but across the world. This is really a gamechanger. Liz let me tell you about, that im glad you said the emerging command side. U. S. Consumption of gasoline at 15 year lows, were not using as much. We have the worst gasoline glut in 20 years. We have to depend on other countries wanting to buy our product but dont we have to get infrastructure in place to ship it out such as lng, liquid natural gas, things like that . Absolutely, liz. That is important to focus with potential for lng export, crude oil exports, the United States is positioned to become the epicenter of energy power around the world, and if well stay focused and wont put undue necessary burdens on domestic activity, we can protect the environment, protect our workforce and yet at the same time begin to supply domestic and the world, now were creating american jobs to do it, its a great opportunity. We need to focus on the infrastructure question. The Dakota Access pipeline is one example. The keystone xl pipeline, we need to most product to the marketplace, particularly to world class refiners right here in the United States who are at record levels of Refining Capacity and able to export finished product as well as the crude product. Liz this is a 3. 8 billion project. The last leg of 1,170 mile pipeline is supposed to get going. Were seeing a Little Movement at the area where they have had the protesters there. Lets talk about the jobs, 2,000 to 4,000 temporary jobs putting together the pipeline, and the numbers are fluctuating but about 1215 people to maintain it. You argue of course all construction jobs are temporary. Im looking at midtown manhattan, once a building is done, people move on. Absolutely. Liz so the president s view that he wants these built with u. S. Steel and u. S. Workers. How realistic is this . Youve been in this business a long time. Dont the pipeline guys want to use the least expensive steel, and is that from the United States . Let me address the first point about the temporary workforce, i think this is important. Some of our critics decided theyre just temporary jobs so shouldnt be focused on these. The organized labor guys we work with, every one of their jobs is a temporary job. The white house was built by a temporary job if you will, and everything we do in the construction world is temporary by its very nature. So we shouldnt diminish the opportunity for these wellpaying jobs to build this pipeline, to build the infrastructure, to build this new refinery capacity we need and have here domestically that allows us to work in a global scale. All of that coming together, we need to be mindful as the president talks about, he talks about america first. Hes going in the right direction in terms of saying, you know what . We can free up Energy Sector to become dominant in the global marketplace. Thats what we welcome bat president. We look forward to working with him on that agenda. Liz listen, its great to have you, jack. Good to talk to you, liz, as always. Liz that video was taken within the last hour or so there in cannonball where they are moving and shifting, they have not entirely vacated. They have burned down their own camps that have been in place for the past couple of months. Closing bell 37 minutes away. Intel and exxonmobil and chevron. Those are the names that are under pressure at this point, but du pont surging way ahead at the dow 30. Gaining 2. 65. Europ

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