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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  July 28, 2017 3:00pm-4:00pm EDT

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senator mccain does plan to return to washington at the end of the august recess. but wanted to give you an update on the health, and, of course, we do wish him and his family well for his treatment for brain cancer. that is it for me, but i'm sending it over to my good friend liz claman. liz. liz: have a good weekend, cheryl. we're not done yet. there are breaking developments on four major stories at this hour. president trump is about to board air force one to return to washington after speaking in long island about that fight against the deadly ms13 gang, telling gang members quote we will find you, arrest you, jail you, and deport you. this as his white house aids slug it out in an ugly back ally battle. are heads about to roll inside the oval office? team trump struggles only topped by last night's dramatic senate failure to repeal obamacare. senator john mccain sticking a dagger through the heart of leader mitch mcconnell skinny repeal plan. mccain this afternoon issuing a written demand.
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return to regular order, which is dc code for bipartisanship to heal the health care battle wound. trump fundraiser and former reagan adviser ed rollins and army ranger and former obama regional director robin tackled both the health care showdown and the real life hatfield and mccoys white house edition. and did anybody notice what putin did this morning? the white house leader booting we overwhelmingly voting for new sanctions. hedge fund guru bill has tangled in a bloody way with vladimir putin. the ceo helped put the last nail in the coffin as he testified on capitol hill about russia's deadly ways yesterday. he is with us live just as the bill has been delivered to the white house. we'll ask. will president trump sign it? and the house, not waiting for health care anymore as it moves on to tax reform.
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freedom caucus mark sanford on about a trillion reasons tax reform is far from a slam dunk. on wall street, look at this. we do have markets at a shot of closing at record highs, even as tobacco stocks get smoked by a new clamp down on cigarettes. we're less than an hour to the closing bell on this friday. let's start the countdown. ♪ ♪ we do get confetti, fireworks, or a big fat nothing. well, it depends on which index you're talking about. right now, we're laser focused on the dow as it looks to pull up a photo finish by the end of the session with another record. by the way, any gain today will mean a third record close in a row right now. we're gaining by 24 points, so it looks like we're there. anything could happen in the next 58 minutes, though. we also have tech staging kind of slight come back. the nasdaq right now well off the lows of the session but still on track for a weekly loss. it's down about five points.
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and you can't ignore it. it is amazon that has everybody asking is it a buy or is it a sell at this final hour? the world's largest online retailer falling as much as 4.3% earlier after reporting a 77% drop in second quarter profit. not revenue but profit. shares right now seem to be pairing losses, though. now they're down only two and a third percent and in this hour, we're getting what wall street analysts are saying is you know what? we're unfaced. at least four brokerages raised their price targets on the stock as they cheered the 25% jump on sales and revenue. there you go. $1,021.75. look at big tobacco, though, absolutely getting smoked as the fda said it will reduce nicotine level in cigarettes and cut this flavors like menthol. having its worst day, folks, since november 2008. what was happening back then? the height of the housing and financial crisis. leem an brothers, you name it. it was happening.
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british american tobacco down 7%. and it is revenue miss express owe at starbucks tumbling following a revenue miss and disappointing same store sales last quarter. oh, my god. i just looked at it. down 10% here? the selloff we're seeing right now is the steepest for the coffee giant in about five years. all right. let's be clear. two things the market does not like. uncertainty and turmoil. to washington, where there's a lot of both right now, especially after arizona republican senator john mccain in a scene that almost could have been lifted from a movie script, walked across the floor, you can see him there and voted "no" on the gop health care bill that was underway. he paused, said "no," and there were gasps and a applause, depending on what side you're on there. so two other senators also voting "no." the bill failed, leaving washington, d.c. and the rest
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of the nation in a bit of a tailspin of wonder where do we go from here? joining us right now fox news contributor and former principle white house adviser to president ronald reagan ed rollins and joining us too. democratic strategist and president obama's former regional campaign director robin byro. welcome to you both. >> thank you, liz. liz: i need to ask you a 30,000 feet question here. sort of a way up high type of question. after what happened last night, how far reaching are the negative implications here? >> short-term, they're not good. any time they -- you brought a president on a big issue like that, which they did, health care, maybe temptation to do it again. he has to get his tax plan up there quickly. he has to get that moving quickly. i think health care for all practical purposes is now done for the year. that doesn't mean he won't come back next year. the chaos in the white house has to get straightened out. you've got three very smart
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people who played important roles. anthony who has been on this show many times and a very dear friend of mine did not have a good week and basically, you know, at the end of the day for whatever reason we know he's got talent, and we know he's a smart guy, and he basically has to get back in the game and hunker down and make peace. liz: we'll get more to that in a second. but, robin, one could argue on the republican house -- i mean the senate, actually. but the expression is on the house. for not even coming up over seven years with even a version of a new health care plan. however, you could almost say a little bit of the same for the democrats, could you not? where is their idea beyond you have to abandon repeal. the republican -- we won't even come to the table if you don't abandon repeal. >> that's correct. i'll tell you right now. what the democrats are proposing is beefing up the affordable care act. they want -- they've proposed lowering the prescription drug costs, they've -- of course,
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they want to keep the subsidies in place to keep these premiums down because they've almost doubled. that's really hurting everyday americans. and they're introducing this idea of a public option getting in there so that we can get some competition. so that's what the democrats are proposing. the americans basically elected trump because they were sick of this partisan divide with nothing getting done between democrats and republicans. that's how we ended up with the antipresident donald trump who was never a politician before, and they are desperate now for something to happen and for us to work together. liz: well, so is john mccain, who said now is time to return to regular order. we need to get to this unbelievable cat fight. i would say it's the worst since the crystal and alexis fight on density and that is scaramucci, anthony scaramucci brought in to be head of communications and also reince priebus, who is chief of staff. there is concern or hope, depending on who you side with
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here in this hatfield, mccoy type of fight. that reince priebus could be out as soon as today. will he be? >> i don't think so. i think at the end of the day -- and both are my friends, so i say that going in as also my friend, and i have great respect for all three of them. i think the key thing is that anthony has to get in there and be a team player. i've worked in three white house. the white house is a bunch of type a personalities. there's no fences, whatever your title is, i was assistant to the president for political affairs. i could go into anybody's turf. others could come into my turf. you have to make friends and allies and come together as a team. liz: during the point that anthony made during his -- i hesitate to call it because when he said this, it wasn't. but he said the head stinks from the top down. well, of course the top, and he did say not the president. but i'll tell you a very conservative writer in the wall street journal, which has gone absolutely viral today, she said about president trump
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he is weak and sniveling. these are her quotes. he undermines himself daily norms of american masculinity. not working for but against him. if he were presidential, he would be getting it done. holding momentum, he would be over 50% instead of under 40%. robin, what do democrats do? do they sit back and watch the show? or do they come in here and try to figure something out with a brave senate that tried but, again, failed. >> as i was heading in here, liz. one of my trusted democratic colleagues did say that our best tactic right now is to just get out of the way and let things happen. but i really do assert that that's contrary to what americans want. america -- we all want what's best for america. and right now, letting this bull in a china shop run riot is just not good for any of us. and donald trump is not doing any -- himself or anyone else any favors by letting his ego run riot.
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because we really do have to try to find a way to work together. he has an opportunity here to be a uniter, and like i said, he was elected to office as the anticandidate if you can get out of the way of his ego and try to get in there and make some people work together for a change, that's what americans want. they're so tired of politics. >> a fill so of cal difference between them. republicans want a market-driven health care plan, and that's it. they're just miles apart, so i think they're going to have a very hard time. you show me any democrats want to cross the line and fix it, we'll see where it goes. but i haven't seen anybody basically do that yet. liz: ed rollins, thank you very much. robin, thank you very much and thank you for your service as an army ranger. >> thank you so much, liz. liz: we need to get to this. russia president vladimir putin did not like what happened in the house and senate late yesterday.
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both the houses overwhelmingly passing that you sanctions on russia and giving congress -- this is a side part of it -- the powers to block president trump from making any move to ease this sanctions against moscow. putin retaliating today by demanding that the u.s. cut its diplomatic staff in russia and says that russia will seize two of the properties. but none of that matters because legislation has been officially delivered to the white house door and waiting for the president to sign it. but will he? these sanctions that are absolutely necessary is this man. bill, friend of russian lawyer magnitsky who was murdered in jail after uncovering a huge fraud scheme. testified in capitol hill yesterday in front of the senate judiciary committee. listen. >> vladimir putin i believe to be the richest man in the world. i believe he's worth $200 billion. that money is held all over
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the world in banks in america and all over. the purpose of putin's regime has been to commit terrible crimes in order to get that money, and he doesn't want to lose that money by having it frozen. so he personally is at risk of the act. >> here, putin has said, you know, i'm kicking you out, i'm kicking your diplomats out. we've done the same thing in the past. but now that the sanction legislation is on the president's desk waiting for the signature, do you believe president trump will sign it? >> well, it's hard to say what president trump is going to do. but i have had conversations -- i was in washington yesterday meeting with a number of senators and members of the house of representatives, and they're -- this piece of legislation, it passed 98-2 in the senate, and there are only three people who voted against it in the house of representatives. i mean, in a washington,
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that's about as much of a -- it's unbelievable. and so if he doesn't sign it, it will be -- or i should say either if he vetoes it or if he just leaves it, it will become law. and so i can't imagine from a political standpoint that he would want to have egg on his face on this thing, so i think he'll sign it. i just don't see how he has any other choice. liz: well, his new communications director, the aforementioned anthony scare maturey had said he may sign it, he may not sign it because quote he doesn't think it's strong enough, and he may have something a bit stronger. you know, president trump has been disinclined to say anything bad about vladimir putin or the russians. this as congressman from both sides of the aisle and senators are saying absolutely this guy's a killer, it's awful, and he messed with our election here. what do you think when you hear something like that?
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>> well, when i hear he's a killer, i agree with it. liz: no, when you hear that scaramucci say he may or may not because the president might not think it's tough enough. >> well, it just sounds a bit disingenuous. you know, he's been one week on the job. he probably doesn't even know exactly where the president is on this particular piece of legislation. but it would be really a sort of total political mistake not to sign this piece of legislation. and my prediction is that he'll sign it because it just doesn't make any sense otherwise. liz: i need to bring up paul manafort only because it appears that if there are any connections, even threads, a lot of them go toward president trump's former campaign head. so the big question is from somebody like you with all the reported issues that manafort has when it comes to the russians are the chances. what are the chances of a case being made that is strong enough that manafort flips and
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ed's still sitting here, so i'll get his opinion on this. that manafort flips and in essence escalates this drama about russian collusion. >> well, you know, it's really not for me to say how this thing is going to play itself out. we have mueller, who's one of the top law enforcement officials in the country with a team of 200 fbi agents looking at this whole thing. the truth will come out one way or the other. either the president will be fully exonerated or lots of consents will come out of the closet. i just do not -- it would be crazy for me to predict how paul manafort or anyone else is going to fair on this whole thing. liz: ed's still sitting here because he was waiting for the commercial break to leave. we've got 20 seconds. do you believe manafort was pushed so hard by the fed that he flips? >> i've known paul for 40 years. paul's not going to flip. liz: is he going to prison? is he off the books? >> i don't know. obviously, anything that paul's been involved in is going to be totally exposed, and my sense is that we'll
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have to wait and see. liz: bill browder, thank you so much for joining us and ed rollins, once again. we will be right back. the dow is up 18. that is a record. much more ahead. tesla's been hacked. wait until you hear what the analysts say
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. liz: no summer lull on wall street. this has been a week packed with sizzling market action. but right now, we're still getting that action. the dow right here up 1% on the week appears to hold onto that. that will be a weekly gain, that will be its third gain over the week in four s&p and the nasdaq kind of lagging behind now. a three-week winning streak. investors closing out what actually turned out to be the busiest week of the earnings this season. the s&p 500 companies that have reported so far, 73% have beaten on earnings per share estimate. now, called profit. 71% have topped revenues or sales estimates. but don't stash away your earnings caps just yet. 125 more companies in the s&p are set to report next week. on monday, the big real estate giant there, pfizer, i know you guys own some of these.
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aig, how about gopro? you own aetna? cigna? berkshire hathaway is coming out too. let's get to the floor show, traders of the new york stock exchange. you have amazon dragging the market down with a little bit of the tobacco headwind too. but we also got north korea launching another missile that we haven't even gotten to yet. very close to japan. that's today. what about next week? what about over the weekend? it seems the news flow just doesn't stop. >> it seems the news flow doesn't stop with all the palace intrigue down in the beltway as well as what's going on internationally with missiles being fired in to rattle the saviors a bit. yet the market just keeps going up i really don't know what to say at this point. the earnings reports are what people are focused on right now. they're certainly taking a backseat. it's a typical summer sunday where you have a little bit of a lack of participation here. but i think the good news is you've mentioned amazon dragging down from last night's earnings report. you're starting to see that in
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the tech trade a little bit yesterday as a whisper was coming out about what their earnings were going to be. with amazon, it really doesn't matter. jeff bezos doesn't care, the investors don't care. liz: he never has. he turned it right back into the company. >> he's fond of saying we haven't even thought of the next 100 things we're going to lose money at. so when you have an entrepreneur of that mentality, he's going to invest into the future and not care what it does in a educator by quarter basis. but kind of a countervailing measures going on right now is exxonmobil and chevron disappointed, so the energy complex, especially in the fully integrated guys who are going to have headwinds ahead of them. but at the same time, you've got the transporters who we caught very oversold the last week. they're now bouncing back, and that's what's giving a little bit of a lift to this market today. liz: again, as i said, larry, we've got ten pounds of something in a favor pound bucket here and one of those things is the gdp number, which came in really refreshing strong.
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2.6%, which pretty much matched estimates. but we haven't seen a 2.5 handle even in the past. so as we look at the growth there of the annual rate of gdp, does that give you hope for better data coming up? >> yeah. it actually does because i think this is the new normal. like, the days of having gdp at 4% and above are behind us right now. there's just too much money in the system. the saving rate's too high, the population's getting older. the gdp number was okay. i don't think it was great. i mean, i think inventories were down, first quarter was revised lower. but i think this is the new normal. and so as long as we continue to grow at this pace, the markets, there's nowhere else to put your money. it's all relative and the market will continue to grind higher. liz: maybe you missed the window of putting it into oil, phil. i guess oil is about to have the best weekly gain of 2017. and, yes, while chevron didn't do as well as everybody thought, it swang to a profit and, yes, that is the past
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tense of swang because i had to look. it didn't sound right? >> i'll tell you with an incredible week of oil. up over 8%. amazing. and combination of factors. i think the market is starting to get that the global market is getting imbalance, and it has been for weeks. we've been in denial saying, oh, we have this glut of supply, it's going to be here forever. shell guys are going to make up for it. but we have lost in this country over 60 million barrels of oil just since march. that's incredible. if you look at globally, we're going to be looking on the door of a draw down of 100 million barrels, and i think the market's waking up saying, hey, there's something going on hear. and the demand side has been incredible. here in the united states, gas demand is soaring. it's soaring in china and everything. we've got a bull market underway, and we're going to get above the bear market territory. we could really start to move next week. we might catch up to stocks. liz: i haven't heard you be this bullish in a long time.
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interesting. >> what? . liz: thank you, guys, very much. >> thank you. liz: have a good friday. and weekend if you can. okay. so the closing bell 36 minutes away. talk about tossing a stink bomb in a a room about to be filled with party guests. tesla trying to clear the air ahead of its big model 3 party tonight as chinese hackers hijacked the spotlight along with hijacking tesla's headlights and much more. analysts now weighing the damaged hillary vaughan on whether this is just a fender-bender on the share or is a serious dent ♪ ♪ i'm... i'm so in love with you. ♪ ♪ whatever you want to do...
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. liz: hollow the popping of the champagne cork. just before tesla prepares for a celebratory post and a big party before their model 3 reveal tonight, the carmaker has been thrown by a slight roadblock, or is it big? news that chinese researchers
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have hacked a second time now a tesla model x. analysts are now weighing the damage on whether this is a problem for shareholders. team countdown has just received a statement from a big tesla shareholder who says what you know? i'm unfaced by news of the chinese hackers. claiming that the hackers will quote do anything to hurt the momentum of this event and automotive history. but as you can see, the stock is not getting hurt. it's slightly higher. fox business hillary vaughan the scoop. hillary. >> liz, hackers have taken control of a tesla. but it may not be as big of a deal as it sounds because cyber security experts that we talk to say this is par for the course as cars become more high-tech. they say these security patches are like getting a manufacturing recall notice in the mail for a minor part. >> you ask can a smart car handle all the different variations of code maliberalize hitting the smart car, that's why we have the
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researchers out there reporting these types of vulnerabilities at anywhere in the life cycle of the vehicle. whether during design or during its deployment, that's very, very important to remember because you have to keep up with what's happening out there with malicious code. >> here's a look at the hack in action. they were able to override the car's system, operate the breaks remotely, open and close the doors, and trunk, flash the car's headlights on and off. all of this action set from music. this break-in was demonstrated at the notorious black hat in vegas where the world's most elite hackers come together to share skills. to deploy malware and eventually gain access to the system. but tesla isn't faced by the hack. they already issued a fix for the problem and gave a thumbs-up to the hacker team for exposing the flaw saying in a statement in part while the risk to our customers from this type of exploit is very low, and we have not seen a single customer ever affected
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by it, we actively encourage research of this kind so that we can prevent potential issues from occurring. if you're a tesla driver, make sure you update to the latest firmware, that way you'll be protected. liz. liz: thank you, hillary. actually, if you're a shareholder, no trouble to the stock right now. it's about flat to slightly higher. tesla at the moment as we see it at $335 looks healthy, but we should also let you know, we like to put it into perspective for you. the annual high is about $389 a share. so certainly off the highs. closing bell, 28 minutes to go. we have the dow jones industrials holding onto gains of about 26 points, that's an all-time record and with 28 minutes to go, you could witness it. we witnessed this morning. speaker ryan paul ryan giving a boot to the border adjustment tax in order to help unite republicans in the next phase of the gop agenda. but is this really the last hurdle in the big run of the
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largest tax cuts ever finish line? coming up, the congressman who dug in his heels eight days ago right here on countdown with warning flares about the bat and health care is here again. but he's not here to take a victory lap. >> the collapse of the health care debate yesterday, what happened was tax reform got about a trillion dollars more difficult to get when you're close to the people you love, does psoriasis ever get in the way of a touching moment? if you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. taltz is proven to give you a chance at completely clear skin. with taltz, up to 90% of patients had a significant improvement of their psoriasis plaques. in fact, 4 out of 10 even achieved completely clear skin. do not use if you are allergic to taltz. before starting you should be checked for tuberculosis.
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>> i'm nicole petallides on the floor of the new york stock exchange with this fox business brief. taking a lack at the markets right now, dow jones industrial average up 28 points, the s&p 500 down four. the nasdaq dropping nine. spacex latest valuation $21 billion. as the company secures a new 351 million-dollar financing round that's up from 12 billion it was value at 2014.
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and propelled it to the top of the unicorn list at the top of private companies with billion dollar valuations. speaking of unicorns, there are reports that uber's next ceo may be general electric chief jeffrey who is slated to leave ge by year end. uber refused any comments. shares of online real estate broker on the nasdaq priced at $15 a share. company has talked right now trading up 44%. we're watching all things washington. liz, so we need tablets installed... with the menu app ready to roll. in 12 weeks. yeah. ♪ ♪ the world of fast food is being changed by faster networks. ♪ ♪ data, applications, customer experience. ♪ ♪ which is why comcast business delivers consistent network performance and speed across all your locations. fast connections everywhere.
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>> what i and other house leaders have been pushing the border tax, i still think that's the way to go. i think it's the right kind of tax reform plan. but if it's going to stop us getting to consensus to getting tax reform done, then we don't want that to happen. liz: house speaker paul ryan
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switching his border adjustment tax in order to adjust tax cuts and tax reform. yeah, today's the day the house departs to prepare for the august recess. but before he leaves town, congress and freedom house member mark sanford is on the house budget committee, the republican from south carolina is here. and, sir, you really did not like the border adjustment tax. so in a way, this is a victory for you. but you're not here to take a victory lap; right? you have some concerns about what happens next. >> no. i mean, again, it wasn't me. i was reflecting the view of a lot of folks i heard from on home. we have a lot that goes out, a lot that comes in from other places. places like bmw that have a lot of component parts that come from all across the atlantic. and so it was an important issue for me. but i've got to give real credit to the speaker, to people like kevin brady who worked awfully hard in trying to advance the tax package. and what we have now is a tax package that i think you're going to increasingly
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consensus around. now this is a border adjustment tax you want to call it that is off the table. liz: okay. how do you get consensus without at least turning to the democrats here? are you against bringing the democrats into the conversation? or do you look at that as what -- how john mccain looks at it? you've got to get them onboard in some way, shape, or form. >> yeah. in fairness, i mean, there are, you know, a number of democrats that have small businesses or large businesses in their district. they've got tax in their districts. we're going to care partiality about this issue of tax reform. there are a lot of people out there at the entrepreneurial level whose efforts are being constraining by our current tax system. so i think it's something that we will ultimately have bipartisan support on. liz: we absolutely need it, and i wish we tackled it first, but in the meantime raised at least a trillion dollars in revenue to pay for tax cuts. how do you fill that hole?
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you're a member of the freedom caucus. you also believe in conservative fiscal spending. how do you fill that hole? >> well, one of the ways, for instance, that you could from the hole is -- and life involves a lot of tradeoff. one of the things built into the tax bill was full expensing. it does give us an economic boost, but it's very, very costly. if you eliminate full expensing, and it is left in place depreciation schedule. but still lowered rates, you would be able to have that gap filled. in other words, the cost of expensing is more than a trillion dollars, the bat would have raised a little bit more than a trillion dollars as well. liz: well, because we've heard reports that steve bannon, one of the president's top aids has said that the wealthy should pay more, and he defines wealthy as people who make 5 million or more. totally unlike the obama administration who had a couple hundred thousand with, you know, new york. that doesn't go very far.
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in the meantime he said the wealthy should pay a 44% tax rate. what do you think of that? >> that's not what's in the tax plan right now. whether you look on the trump plan currently or, again, the better wave plan, as it's called. neither one of those entail that. all of them involve lowering the marginal rate, one boiling it down from seven or eight to about three. but two, lowering those marginal rates for everybody. and we do have a progressive tax system. some of the people at most happen to be the folks that pay the most. so it makes sense to me that they see a tax break as well. i don't think they should be excluded from a tax break. liz: we've got to pay for all of this somehow, but i hope you guys can cook up a recipe that tastes good to both sides. congressman mark, are you leaving town? >> yes, ma'am. i'm headed for south carolina liz: safe journey. thank you. >> yes, ma'am. liz: and, by the way, you can see much more of maria bartiromo's exclusive interview with house speaker paul ryan tonight on wall street week. she really drilled down with
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him about tax reform, what it should look like and what his hopes are. that's 8:00 p.m. eastern. and then it's the property man. bob massa, he's got the gold bug. he's going to tell us what happens with a property that contains a historic abandoned gold main. at 8:30 p.m. on fox business. the bell 17 minutes away, the dow is climbing right now up 32 points. in the meantime, the heat is i guess getting higher and higher in this bidding war for the miami marlins. it's going into extra innings at this hour. charlie gasparino with exclusive details on the new team mate jeter is enlisting for a grand slam bid that even george can't beat. don't miss it next on countdown ? yes. so let me ask you this... how does diabetes affect your heart? it doesn't, does it? actually, it does. type 2 diabetes
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. liz: we just touched highs of the session for the dow up 38. right now up 37. the s&p looks like it's trying to make a run fought border, the flat line border. it's down 2. the nasdaq down 5. speaking of five, it's a five-month battle for ownership of the miami marlins that is now at this hour turning into a real nail-biter. george's home run bid look like it might be held up at third as a new player enters the game for team jeter. charlie gasparino. >> well, this is fascinating because this bidding war as we've been covering it, we were actually the first to break it earlier a couple months ago. it features all of these interesting players. remember mitt romney's son was in it. we don't know if he's still in it. he led a bidding group for the miami marlins. liz: just tell me who it is. >> jeb bush. the former governor was kind of in it. now we have another player. michael bell.
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liz: what? >> the family office of mike o'dell has made a significant investment in derek jeter's bid. and we have confirmed that something called msd partners, michael s del partners. liz: a venture capitalist fund. >> his family office, it's related to his family office, which manages his net worth of $20 billion. made a -- basically gave $175 million to jeter in the form of preferred stock suspect. so what this does is this: it moves jeter closer to his $1.3 billion deal with another $175 million. but it is preferred stock. what's interesting about this the coupon from what i understand is something like 10% on this deal. that's pretty significant. preferred stock works like debt. and here's the rub. will the major league baseball -- will they allow an investment like this in a bid because they don't like debt, generally. and preferred stock.
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i know i said stock. but preferred works as debt. you get guaranteed quarterly or maybe monthly and usually quarterly dividends like a bond would pay a coupon to somebody. you also on the pecking order just in case bankruptcy or some issue, you're up there with the bond holders on the capital structure, so you get paid off first. you get paid preferred stockholders and bond holders get paid off first in -- you know, in the event of liquidation before the common shareholders. so that's the one sort of negative here. the positive here is clearly jeter is chipping away at the 1.3 billion. we know he has something like $300 million from a money manager florida-based guy. been running money for years. he's got money from him. he's got some other cash. and now he's got close to $200 million from mike o'dell, not a bad source. liz: interesting. he's a texas guy. >> michael is? yeah,.
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liz: you have a lot of hemorrhage fund guys in new york investing in the milwaukee bucks. >> but let's be clear here what this is. this is his family office; right? now, del from what i understand is his aware of his investment. the office manages his net worth of 20 billion. there are guys making this investment. liz: next thing you know, it will be ted weight. remember that guy? founder of gateway computers. >> michael del is a fascinating guy. created this computer company and then recently brought it private. and they're making money. anyway, what have you got? . liz: great skupe. but scoop. but i have to ask your opinion on the headline. i think we have a more organized graphic on there. >> there's jarod up there and bannon. . liz: and jarod and hiding in the -- >> in the bushes. liz: in the bushes. >> it really is -- liz: i like the bandana. >> it really is a bizarre spectacle, isn't it?
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. liz: yes. and it would be funny if it weren't running the nation. >> and we do have tax cuts, and i wish they would just get their act together. i will say this. i know anthony. anthony is a brilliant businessman. liz: this is not the anthony we know. >> here's the thing. what i would say. he can be volatile. and that's not a bad thing. i'm just telling you like at that like it is. he can be volatile. i'll tell you, man. i've never -- i was speechless on that -- liz: you? >> the new yorker article, i thought it was -- liz: i wasn't grabbing my pearls. it wasn't a grabbing the pearls moment because what you know? if he worked in a newsroom -- >> i never said that i performed that act on myself. liz: okay. charlie. thank you. >> never said that. liz: closing bell. eight minutes away. dow is up 37 brushing on highs of the session, the pentagon confirming. north korea filing of another
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missile just hours ago. i got this up with our floor show. i mean, you can't ignore this. landed right near japan? >> this is while we're fighting each other. liz: that's what market strategist peter says is raising or should raise everybody's eyebrows. he's standing by with his portfolio battle plan to fight the threat of kim jong-un. he'll teach you how. confounded coming right back dre a ford pickup, right? (in unison) russ, leland, gary: yes. gary: i have a ford f-150. michael: i've always been a ford guy. potsch: then i have a real treat for you today. michael: awesome. potsch: i'm going to show you a next generation pickup. michael: let's do this. potsch: this new truck now has a cornerstep built right into the bumper. gary: super cool. potsch: the bed is made of high-strength steel, which is less susceptible to punctures than aluminum. jim: aluminum is great for a lot of things, but maybe not the bed of a truck. potsch: and best of all, this new truck is actually- gary: (all laughing) oh my... potsch: the current chevy silverado. gary: i'm speechless. gary: this puts my ford truck to shame. james: i'll tell you, i might be a chevy guy now. (laughing) it was always a dream of mine to become a professional soccer player, but i never imagined that i'd be playing in kansas city.
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when i was first elected mayor, they would talk about kansas city, kansas like... i can't wait to get out of here. through the years we lost over 30,000 people. we turned that obstacle into an opportunity. the speedway was the catalyst... and because of the speedway we now have a shopping area and a wonderful soccer stadium. and now we're starting to grow in population. it's extremely important to have financial partners such as citi® . i wouldn't trade playing in my hometown for anything. time's up, insufficient we're on prenatal
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. >> two things i need to tell with you four minutes to go before the closing bell. the dow is the only index headed for a weekly finish, all because of one stock, but i need to mention this, nicole. the s&p is very close. it has to close 2474. we're at 2473 right now, nicole! >> reporter: that's right. so we're right here on the brink by about a point in the positive territory. s&p 500 has been up three weeks in a row. can it make four?
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what helped the s&p 500 and clearly the dow jones industrial average for this week, the dow is up 1%. is boeing, boeing has been stellar this week, had an unbelievable week, it beat the street. it's adding 200 dow points for this week, and it's up about 14% since last friday on this earnings beat. you know what's added? that is the best week in more than years for boeing. so i know we had a blip yesterday, it was a tough day for tech in particular. dow is up 36, and the s&p 500 is right on that, 2472.54 mark. we'll watch for that. >> by the way, if we close at a record high for the dow, that's the 29th record close for the year. north korea, blasting way onto investors' radar. hours ago, north korea fired a missile into the waters between korea and japan.
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that's its first missile test since the july 4th launch of intercontinent ballistic missile that is close to being capable of reaching parts of the u.s. peter kenny says north korea is a major flash point for markets. he's a global markets advisory group senior market strategist. more than anything like health care or tax reform? >> i think it has the biggest potential throw weight in terms of disrupting the tranquillity we find in the market in terms of market grinding higher. 29th record-high close for the major market indexes. that is definitely a factor and a variable that can't be controlled apparently. we're heading into a month where we traditionally see quite a bit of volatility as well. between the factors, the inability to get anything done and the fact that we're at really, really extended valuation. we could see a little pullback in which case you probably want to be more defensive.
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>> i think you are right. people turn their back on north korea because there are more titillating stories. once something happens that is truly frightening, not that this isn't, you could have an exogenous event that affects the markets. how could you put together something to battle the headlines? >> given valuations, some of the names are up 40, 50% in the fang vertical. you have to protect yourself, so you rotate into defensive verticals within the market. >> such as? >> utilities. i know it's not sexy but it's secure. so utilities love energy, we've seen the best week for crude in the entire year. i love energies, love utilities, i like financials with likelihood of rates being raised sometime before september. >> 15 seconds before the market closes. it will be a fireworks ending here, peter. thank you so much for witnessing that here with us.
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>> thanks for having me. >> good friend of the network. the fireworks, record finish for the dow. the s&p at 2472 to make it green for the week, would have to be at 2474. we're not there yet. there's the closing bell. david and melissa have much more to go with "after the bell." melissa: here we go. david: three in a row, you should have seen what was going on five seconds ago. melissa: nothing! >> very excited with the dow. another record. ending the day and the week in the green. neither can be said for the s&p and nasdaq fighting for gains in the final moments. happy friday, ooimd i'm david asman. melissa: you can tell it's friday. i'm melissa francis. this is "after the bell". here's what else we're covering for you during this incredibly busy hour. senate republicans failing overnight to pass any type of repeal on obamacare. what happens now? a look at the state of health care and the political fallout for those numb skulls.


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