Controversies behind him with a very busy schedule, he will meet with pope francis, Emmanuel Macron and israeli Prime Minister benjamin netanyahu, but the Political Drama of the big topic of conversation is just that. Here in las vegas at the annual Hedge Fund Conference as weve seen celebrated in gains this week, a powerful lineup to discuss all of the news. Former u. S. Ambassador to saudi Arabia Robert jordan. Billionaire Real Estate Investor sam zell how he thinks the Trump Presidency could affect the economy and the worrisome warning sign in real estate. Lifestyles of the rich and famous host robin leach is here live, hell share thoughts where and how the wealthy are investing and spending. Living in luxury 2017 style. Were less than an hour to the closing bell. Look at the dow, up 175. Live in las vegas with the power players from wall street and beyond. Lets start the countdown. Breaking news capping off a week of market ups and downs and political highs and lows, the smartest money and policy minds in the world are jamming the ballroom at the bellagio in final day of the salt Hedge Fund Conference in las vegas. Former u. S. Ambassador of nato, his name is nicholas burns, said before he got off the stage, telling the crowd the only way to get a solution in syria is for russia to be a part of it. Burns calls russia the dominant Regional Force there and they have to be a part of anything particularly because, and this is his words, president obama had pretty much removed themselves and they did not move on crossing the red line and therefore, russia now has come in and filled that void. One of the most widely attended discussions was the activist investor and billionaire bill ackman. When asked what President Trump should do to get the focus back on the presidency versus on the russia investigation, ackman said he needs a win and the only place to get it is with infrastructure, not health care. Ackman said the health care clip is absolutely a concern but too difficult to tackle. Trump should drop it for now. We know hedge funds had measly returns. When asked about that, he said the Hedge Fund Industry should compromise on fees and cut them if it cant get returns above 20 . On the Chipotle Mexican Group stake he has, quote, i took advantage of chipotles crisis, he says he bought chipotle around 380 a share, you see it now at 7, aual high 499. Hes in the money right now. Why did he buy chipotle . This is the way he thinks, he said chipotle is a long runway, huge potential in breakfast, dessert, catering. They havent done that yet. They dont have an app. Theres a huge runway there. Of course, the valeant loss, he had just loss so much so much money there. With the money he sold at a loss, but with that hes going to make two investments that he hasnt announced yet, but with the money he got from selling the rx valeant, hes bought into two things and hopefully know soon. The Lesson Learned from the valeant disaster, dont rely on management ever. Check the markets right now. The dow rallying significantly here, up about 176 points at the moment. Its fascinating to see, we have to see another major leg up to erase the weeks losses. The s p 500 to finish to the downside but its moving higher by 21 points, about just under a percent. The nasdaq looking good, you can see the reflection, the charts are looking a lot like each other with the intradays. Nasdaq jumping by 45 points. The russell is looking up significantly up just about a percent. Hard hat stocks are the Building Blocks of the rally today, works well with what bill ackman said, do infrastructure first, caterpillar up 2. 5 . Deere moving higher, surging after reporting earnings well ahead of expectations. Deere raised profit forecast for the rest of 2017. Maybe you own that stock somewhere in the portfolio, both widely held. What a week for the dollar. Strong dollar, and delayed tax refunds are tripping up foot locker with every action, there is an equal and opposite reaction. Foot locker down 16 . Both factors flying into a dip in sneaker sales that made for disappointing earnings. Stock down 11. 56. We should get you this breaking news, President Donald Trump departed, hes in the air for very first overseas trip as commander in chief. The president vowing to strongly protect american interests during that trip. Were going to get to the specifics of the trip in just a second but with all the turmoil back in washington, can the president pivot the narrative and focus on International Diplomacy . Blake burman live at the white house. Blake, give us a preview. We know hes meeting not just with the house of saad but other World Leaders. Reporter i can tell you whats interesting at the white house . Can you hear the birds chirp. It is deadly silent. This is a massive trip the president is undertaking, left the white house about an hour ago, almost the first time we felt calm at the white house. Hes on a nineday trip that will be embarking all across the world. Several different countries. First saudi arabia, over the weekend, and then to israel and over to the vatican, that is part one of this trip that the president will be undertaking as he will be dealing with leaders in three of the dominant religions and after that, he heads over to discussion with nato leaders in brussels and then over to the g7 summit near sicily. Already on this day as the president is in the air, on air force one heading over to the middle east, the administration is hailing a rather large arms deal with the saudis, to the name of 110 billion, a deal which the white house confir to fox that Jared Kushner was a major player in brokering that deal. Senior Administration Officials say its a deal that will make that region much safer, including it being safer from the iranians. However, senior version officials quick to point out this is not a deal at the expense of the israelis. Senior Administration Officials saying, quote,ing here, i need to stress there is nothing in the package of sales taken individually or as a whole that will undermine israels qualitative military edge, as a matter of law and longstanding policy, the United States is committed to ensuring israel maintains qualitative military edge in that region. Saudi arabia over the weekend, israel, the vatican and so forth. By the way, as the president heads overseas, doing so without a nomination to become the next fbi director. Multiple white house officials telling me that decision would not be coming today even though President Trump said yesterday it will be coming quote very, very, very, very soon. Liz . Liz and Charlie Gasparino break on the show, slight conflict of interest because of course Joe Lieberman works for a law firm where the lead guy is Donald Trumps lawyer so, that would be interesting to see. And we certainly were, i believe the first to point that out. Leave it to fox business and Charlie Gasparino, who will by the way, be coming up with more breaking news in just a few minutes. Hes schmoozing i mean networking. Thank you, blake. Investors at the salt conference certainly watching the market lose this week as the drama at the white house threatened to disrupt the trump economic agenda. Billionaire sam zell is no different. I hosted theanel withim, afterward i t down with the Expert Investor and pretty much the father of real estate investing. Equities and much else. Listen to what sam zell had to say about the economy under President Trump and whether the current Political Climate change is the way he invests and what hes worried about. The perspective about the economy right now is that, you know, trump as a factor, has changed the equation, in october if you asked me, i would have said i thought we were in the eighth inning. I think maybe trump has generated extra innings. Now how long that will last . I dont know, but the markets been going up since march of 09 so its a long time. Liz you as an Expert Invest norreal estate and equities and everything else, you look at the situation going on right now with russia. Calls for an investigation, investigations being launched. Does it change anything that you do when you invest . Certainly makes you very cognizant of the political risks in any situation, but i personally dont think that whats going on right now is anything more than an outsider coming in, upsetting the local boys gang. Liz as we talk about whats going on in the salt conference. Ben bernanke was the opening keynote speaker. The former Federal Reserve chief said when asked about what would trigger the next financial crisis . He didnt want to really specifically say but did throw out shadow banking and the cycle of commercial real estate. Ats your bailiwick, thats your world. Sure. Liz what inning are we in with commercial real estate . What are we seeing . Everything comes down to supply and demand. In the commercial real estate market, the Great Recession effectively deferred a lot of activity. We think catching up pretty significantly. Were building more apartments this year than we have in the last 25 years. Were building a lot more hotel rooms. A lot more office space, whether theres going to be demand for that, i think is a good question, and thats what bernanke is making reference to when he talk about the vulnerability of the system with commercial real estate. Liz you buy and sell a lot here. Whats liquidity like . Liquidity has been going down for the last 12 months. For a while, there liquidity in commercial real estate was amazing. You put something on the market and there would be 12 guys wanting to buy it or if he wanted to buy something, 12 guys competing with you. Theres been a definite reduction, particularly in anything except the very much to the market that peels to commonwealth funds and people like that. Liz why do you think that is . Well, i think that its a long cycle. Theres a lot of money made. A lot of change in value. At some point, everybody looks at their toes and says has the emperor got clothes on . Thats a good qu as it relates to commercial real estate. Liz whats your favorite investment right now . I know youre doing some parking garage structures in south america. What do you look at and say thats a place thats going to do well from here and maybe the next five to ten years. I dont know about that, ill try to answer your question about what im most excited about. We built a bridge. For years i lied to people and told them that i had a bridge to sell them. [laughter] but i didnt. Now i do. And we built a bridge from chula vista which is the southern most point of california over the Mexican Border into the tijuana airport, and this year, two Million People will cross the pedestrian bridge, will cross the bridge going either way, and its turning out to be a great infrastructure investment. Liz which is kind of fascinating. I did ask whether he is a supporter of President Trump, and he said im not sure i would say supporter but given the alternative he was absolutely on board with President Trump and says that that bridge, by the way, everybody who crosses it is legal. See more of my interview with billionaire sam zell in todays claman confidential. Go to lizclaman. Com. How easy is that . Much more exclusive material from out here at the salt Hedge Fund Conference. Im not the only one in sin city. Maria bartiromo here as well. We mentioned former fed chief ben bernanke, shes got him on wall street week and stick around for property man bob massi on how the global water crisis will change how you live. Be prepared. Property man will help you do that, 8 30 p. M. Eastern only on fox business. Were about 46 minutes away from the closing bell. President trump escaping the socalled swamp for his first overseas trip, but is his domestic agenda still intact . The market showing signs of relief today after this weeks tantrum. The dow up 144. Expert traders will tell us what they think as we spin it forward to next week in todays floor show. Live from the salt conference in las vegas, nevada, robin leach joining us in just moments how the billionaire class is spending its money today versus back in the 80s. More countdown on the way. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Will you be ready when the moment turns romantic . Cialis for daily use treats ed and the urinary symptoms of bph. Tell your doctor about your medicines, and ask if your heart is healthy enough for sex. 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While the nasdaq is on pace to snap four week long winning streak. Dow is up about 139 points, but what happened, you guys . We were up 175 when we started to show. According to bank of america u. S. Equities saw 9 billion in outflows pulled out in the week up to wednesday. This is the Third Straight week of outflows for u. S. Stocks, something the guys at salt conference are talking about. Has trump turmoil as people are calling it, turned investors a little nervous about investing . Or will they shake it off . Right to the floor show, traders at the New York Stock Exchange and the cme group, everybody, guys looking for entry point because the market has gone up and up and up since President Trump was elected. One day were down more than 300 points, theyve missed it, matt. They certainly have, but i think smarmoney asou said is finding exit points. You see all the money withdrawn from the u. S. Flow, going into europe right now. Thats where the en vogue trade is. People missed the trade, panicky, and pay up for it today. We need to break through the key resistance levels in the s p and the dow, need to set a new high, i think, to get people on board with the rally, if its believable. Liz i think youre right. Weve had the worst week for the u. S. Dollar in a year, and were suddenly seeing the resurgence in the euro. Chris robinson as we look at landscape and europe looks like the cool kid in the cafeteria versus the u. S. , is the opportunity in certain pockets of the u. S. , where are you seeing the investor flows going into certain areas . Youve got people getting away from the u. S. Dollar, thats number one. Were at sixmonth lows, given back a huge chunk of the rally that we enjoyed postelection night. Thats what i watched carefully. Also a return from volatility. A 24 year low in the vix to a 7month high. That portends well for banking stocks and so on and so forth where people are trading, volatility is the light part of trading business, id like to see that come back, id like to see, you know, return there, other than that, i think what you said is correct. Weve got to get to 2400 in the s p and 21,000 in the dow. Liz well, can we also bring up the Federal Reserve . You have the nonvoting member, john bullard over at i just i couldnt believe it. He announces that two more rate hi too aggressive for the year. And what do we see on futures . Last week 90 chance, james bullard, 90 chance of seeing a june rate hike. Now 73. 8, but earlier when we saw the big dip, phil flynn, it was below 60 . That certainly affected oil but there are other drivers there. Oil is a big winner and saw the 18th week in a row of the recount going up. It is, ill tell you why, liz, its because of the bigger geopolitical situation thats going on in the world. I mean theres a lot of risk going back into oil. You ask chris what you think the best sector to invest in . Probably the sector beaten up more than anything. That is oil. Not only do you have the iranian election creating uncertainty, you have the upcoming opec meeting next week and rumors that opec could double down and add to the production cut, actually make a bigger cut rather than expending it to next march. So that can change the dynamic. Now you add all of the geopolitical uncertainty, not just here in the u. S. If its only about donald trump, i dont think wed be that worried. This is about other countries around the globe. A lot of instability in brazil. A lot of instability in iran, in syria. You put that altogether, the risks have gone high. When you see one fed official start to waiver about Interest Rates cuts, for traders, its here we g