Transcripts For FBC Countdown To The Closing Bell With Liz C

FBC Countdown To The Closing Bell With Liz Claman May 26, 2017

Greetings and yet its all business for President Trump and his g7 counterparts as they tackle trade, security and the fight against isis. But its the president s shove heard round the world of the Prime Minister of montenegro that has tongues really wagging. Guess whos not upset about it at all . Weve got the real story. Standing by, former assistant secretary of state bob hormats and strategist ed rollins. Well ask what happens when President Trump returns to find that his soninlaw, his closest adviser, might be in the russia hot seat . As the president focuses on trade with the g7, a fox business exclusive with former secretary of commerce Carlos Gutierrez on the one thing about the president s efforts that he must kick into overdrive for trade. Memorial day, a time to honor those who have died in battle and to thank the men ask women who are still and to thank the men and women who are still serving. For those wounded in war, the treatment by the v. A. Has been more than a slap in the face or a shove. President trump has deployed this man to the front lines to of the bate to f the Department Responsible for the care of r wounded milita men and women. Veterans Affairs Secretary david shul kin joins us in a fox business exclusive where, yes, hes a doctor, and now he says im going to go in there and treat patients myself at the v. A. And Mark Zuckerberg of facebook igniting a new social debate at this hour. Firestorm over one single comment he made at his alma mater, harvard. Plus, the notsoretail ice age. Its less than an hour to the closing bell. Dows up 4, lets start the countdown. Liz dont start your vacation just yet, or if youre packing, keep us on. Stocks are struggling to stay positive. Theyre there at the moment. The s p, you can see a teeny bit of green, but the dow could be just one small surge away from a record close. Now not to be outdone, the s p and the nasdaq could make history once again in a week that already saw record closes percent s p and the nasdaq, any gain, thats what we need to see another record. We do have the dow up four points, you could call the s p completely flat here. The nasdaq is up three points, call that flat too. But the magic number for the Dow Jones Industrials is 21,115. Were at 21,087. And all three averages have been on this sixday winning streak, the longest since, i believe, april. Im seeing february, but i understood it was april. But, hey, back it up to april and hen to february. The final hour of trade will also determine whether that runs, stalls or powers ahead. So as we look at the s p and the nasdaq, those are the ones that are just barely there. The nasdaqs been leading the way in what has been the biggest week of gains for all the averages in a month, its jumped nearly 2 in just the past five trading days. One major reason is two stocks heading into the final hour of trade are flirting with the 1,000 a share mark. Amazon, the closest. That was happening yesterday. In fact, it reached it and then it came back. Were at 993 a share for amazon. Google is trailing not very far behind, its at 993 a share. All the more reason to keep your eyes on the tape p and on us here at countdown right up to the last minute before the memorial day weekend begins, and that would be in 54 minutes for the trading day. We have our eyes on everything including invidia, the graphic chips maker. It hits record, alltime highs. Look at this stock right now. After filing showed it raised 42 million this Equity Financing in Equity Financing just two days ago. And then reportedly we have soft bank, the japanese giant that also has a stake in, of course, tmobile, taking a 4 billion stake in the u. S. Chipmaker. Im going to get you a quote on invidia, nvda, and its up about 2 . But yesterday it was spiking. So right now invidia up at 141. 16. And somehow retail just woke up for the week. Stellar results pouring in. We normally dont do this, folks, but we need to go backwards on something. Usually were looking forwards, but lets go backwards a fortnight be ago. Sears ceo Eddie Lampert said that sears did not need more customers and that despite investors concerns, hes not in denial about that. Why does that raise eyebrows . Sears has been in huge trouble. Look at this tenyear chart. Not a surprise that his leadership has been in question. And when you look at this tenyear chart, you see Sears Holding has been performing horribly, down a heartsppin 95 hart. So what makes 95 . What makes this significant . Two weeks ago he says we dont need new customers, we are doing fine, and sears found its heartbeat after reporting its first profit since 2015. [laughter] look at the heart. The heartbeat there. Ands it is jumping pretty exponentially at the moment. Thats not the only retailer e breathing new life. Lori, give us the spread sheet. Spread the love. I mean, werent we just eulogizing brick and mortar . I mean, this is what a week. Not only staples, but discretionary names are outperforming today. And you can pin it right back to better than expected, even surprisingly better than expected. A lot of analysts were looking for retailers to report losses. Look at the performances for the week starting with the container store, up better than 40 . Guess, best buy best buy announced its plan to save 600 million, better than expected earnings came out earlier this week. They said the tightening labor market, they pinpointed a reason why business is better. More people are spending money, real simple. Amazon may still rule the world, but you know what . Dont count out the mall stores. I mentioned guess, very common place to see in malls. But, you know, these guys are holding on. Big lots, another example. Pdh corporation, this is the owner of calvin klein and tommy hilfiger, inventory, management, everythings firing on all the right cylinders. And, again, ulta, this is a Beauty Products maker. This is an alltime high. Party city. So really across the board consumer staples, the stuff you need, consumer discretion, the stuff you choose to buy, all of these retailers enjoying substantial gains, and its been quite a while since weve seen the industry across the board performing so well. Liz . Liz lori, thank you very much. Dinner and diplomacy right now at this hour in sicily. G7 leaders are arriving in pretty much the past 5565 minutes for a lavish meal followed by a concert from the la scalia philharmonic orchestra. However, you know how this goes, the dealmaking is in the hallway . Also in the past hour white house chief economic adviser gary cohn telling reporters the Administration May consider even tougher, not looser sanctions on russia. Earlier this morning the president touched down in sicily, and he tweeted, quote just arrived in italy for the g7. Trip has been very successful, we made and saved the usa many billions of dollars and millions of jobs. Its a journey that has also seen the president fully embracing the head of state role. He has met with the saudis, israeli Prime Minister benjamin netanyahu, Palestinian Leader Mahmoud Abbas and pope francis. In spite of all these very president ial meetings, his Approval Ratings continue to fall. Now just 40 in the latest fox news poll, down from 45 in april. Good doctors say get a second opinion, heres the second opinion. Gallup tracking number just slightly higher at 41 approval rating. Could the ongoing russia controversy and other domestic political challenges be overshadowing Everything Else the administration is getting done . And why is that even fair . Were joined by republican strategist and Fox News Contributor ed rollins and former undersecretary of state for Economic Affairs under the obama administration, bob hormats. Ed rollins, fair or not fair . Its not fair. I mean, hes solid with his base, thats what his base is. I thought he had an extraordinary week. This is a measurement where you meet these foreign leaders, and they sort of look at you in the eye and make a judgment. They dont know him. All the rest of the g7 know each other, and i think he basically performed very, very well. I think its reflected in the stock market. He looked like a leader, he acted like a leader, he sent some very significant messages to nato. Basically, pay your share. I have to ask my americans to give up certain things so we can add to the defense budget, you need to alter your premise, and i think he comes back with an a at minimum. Liz everybody has a perception here, bob, and the perception is theres going to be tension between President Trump and theresa may because, of course, there was some spilling of highly secretive intelligence regarding the manchester bombing. And it has been traced to the u. S. Rex tillerson, secretary of state, has already apologized for it. But there was a facetoface meeting between theresa may and President Trump, and that apparently did not come up. They talked brexit, they talked security, they talked trade. So i think that there are things that people are projecting into, oh, heres whats going to happen and then it doesnt. Thats correct. They have bigger issues to deal with. I think in these summits, and i was the sherpa or the planner or the notetaker for the first seven of these, and there was a pattern. They always have these domestic issues of bilateral issues that come up from time to time, but they tend at these summits to focus on higherlevel, more important issues. They only have a limited amount of time, so they want to make progress on areas where they can make progress, not go back to old differences. Liz well, one of the problems, perhaps, is the president himself. You know, there are some unforced errors, and theres this shove heard round the world. And a lot of people are talking about the fact that you can see it there, President Trump pushed ahead of the montenegro Prime Minister. In fact, we could show it again so our viewers can see it, because it happened rather quickly. Take it full screen. Hes the whitehaired gentleman, and you see looking a little agitated, donald trump pushes him aside, i think we got a tight shot of his hand doing it. Interestingly, ed, that Prime Minister of montenegro said didnt bother me. In fact, im appreciative donald trump supported montenegros acceptance into nato. Thats all that counts. At the end of the day, trump probably didnt know who he was. It wasnt like he pushed mrs. Merkel liz well, if hes there, hes one of the leaders hes performed like a leader, and i think thats the critical thing as i said earlier. And he wouldnt do it again. I think the key thing is when you sit down at the table as bob can tell you, ive been to a few of them, its a measure. They basically make judgments whos strong here. The United States steps in to any arena, and were the strongest nation in the world militarily, economically, all of which are very important to these other countries. Liz bob, is there anything that happened on the trip that will give President Trump more momentum than any other of the events . People felt that the meeting with netanyahu was very, very important and then meeting with Mahmoud Abbas. Well, i do think that the trip to saudi arabia and meeting with those Muslim Leaders was very important because it gave the United States a stronger position visavis russia in the region because he can organize a group of sunni arabs to help support american policy if he provides the kind of support they want. And also he worked well with netanyahu. That helps a lot. I dont think there were any breakthroughs, but i think it showed him in a good light in the islamic world that helped correct some of the images that theyd had in the past. And eds right, they deal they tend to deal with bigger issues. I think he shouldnt have pushed anyone at that meeting, the nato meeting. It wasnt good form to do that. Pushing people around is not a good thing to do anywhere. But i think the Prime Minister of montenegro had bigger fish to fry. He wasnt going to dwell on that issue, because the United States support is needed for their security. So, of course, hes going to push that aside as an issue and move on to the bigger issues. Liz well, Charlie Gasparino pushes me aside a lot, so maybe ill tell him what you said. Ed, when the president be returns here to the United States, he is going to see more deeply that his soninlaw, jared kushner, is now one of the focuses of this russia investigation. What does that do . Well, first of all, it has to get cleared up very quickly, and jareds the only one who can clear it up. He can talk in terms of who he met with and why he met with them, and once people know that and theres no involvement of any illicitness, then you move on. Someone thats important to the president and his daughter who both play key roles in that white house, you dont want them distracted by this. The bottom line here is these investigations are going to go on for a long time, but you cant have someone in the significanrole that theyre in in the white house bat the center of it, and i dont think at the end of the day i dont think theyve done anything at this point in time, and they need to get it behind them real quick. Liz great to have two heavyweights in the political world. Great to see you, gentlemen. Closing bell, we are 45 minutes away. Flat nearly as a pancake, but youll call it down one point for the Dow Jones Industrials. For many this weekend is about one thing, memorial day. A a time to honor those lost in war and celebrate the men and women who have fought for our country and still do. But if many veterans for many veterans, theyre fighting a whole new war here at home, that of a crippled v. A. System. An agency fraught with controversy that President Trump has vowed to repair. And when it comes to how many things need to be fixed, may not be the government that leads this battle. Companies you and i use every day might take the sword. The man tasked with this monumental job, Veterans Affairs is secretary dr. David shul kip here in a fox business exclusive. Hes next in washington d. C. What hes doing thousand to fix this. Your insurce company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Liz got a question for you. What is the longest amount of time youve ever waited to see a doctor . An hour, couple of hours, maybe you couldnt get in for a day or two if theyre really, you know, specialists it might be a couple of weeks . Try weeks and weeks and weeks stretching to months. Well, this is one of the biggest controversies at one of the most important agencies in the federal government. The department of Veterans Affairs coming under fire for a number of scandals including the revelation that wait times for vets to see doctors became so long that american heroes died while waiting for more their appointments. In fact, in february of 2014 a whistleblower alleged that 40 veterans at a phoenix, arizona, v. A. Hospital passed away while waiting for medical attention. To fix that situation, the government reached out to private business and pharmacy giant cvs to offer Minute Clinic appointments to veterans to proshied them with expedited provide them with exwe kited care closer to their homes. It started under president obama and could be ramped up even further with the Current Administration in the way of even more Public Private partnerships. The man at the helm making it happen ahead of memorial day is department of veteran Affairs Secretary for the Trump Administration david shulkin. Hes also a doctor. Its wonderful to have you here. Thank you so much for joining us. Thank you, liz. Glad to be here. Liz well, it seems so logical. Bring in the private Business World to help fix this situation. How soon can we get this all moving . Well, were doing it right now, and were fixing the situation with the wait times. That our top priority thats our top priority. I came from the private sector. As you know, the president ces from the private sector, and the president and i are both committed to fixing this for our veterans. Liz the veterans administration, wonderful. Theyre one of the few agencies in the president s new budget plan that actually gets money. There are many that are getting cut, but e believe explain what that will do to help fix some of these problems. Well, as you mentioned, this really was the president s commitment, to make sure that we would horn our commitment to our honor our commitment to our american heroes. And thats really why im here too. The budget reflects that, there is more money to make sure we fix the problems that have been there in the past. The Choice Program allows veterans who arent able to get the care that they need within the v. A. System to be able to get the best care outside the v. A. System. So were building a system that partners with the private sec

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