tv Countdown to the Closing Bell With Liz Claman FOX Business March 14, 2016 3:00pm-4:01pm EDT
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trish: all right, everyone. the conversation doesn't end here. head over to my facebook page, like it, or go to my twitter account. tell me what you thought of today's show. and, of course, i will see you there. in the meantime, heading other to liz. liz: thank you very much, trish. we're looking at a bull hundred, and this. is it a hail mary, or are we witnessing a turning point right now in the republican race for the white house? just moments ago 2012 republican presidential nominee mitt romney campaigning on stage side by side with ohio governor john kasich in canton. we'll show you how romney be all but endorsed kasich. you'll hear exactly what he said. we have new ohioan gop polls showing kasich with just a slight lead, even one poll showing a dead heat with donald trump in tomorrow's winner-take-all primary. mr. trump with his own surprise, former alaska governor sarah palin surprising a tampa crowd at in this event that you're
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looking at live. the sarah palin moment happened just about nine minutes ago. we're going to show it to you. she had canceled an appearance earlier after finding out her husband was injured in a snow machine accident, but guess what? she decided to stay with donald trump and appear on the stage. here is the video just in. she called the media siding with thugs, and she said that it is more important to be with donald trump before going to see her husband. we will get to more details on that. look, none of this will matter if john kasich cannot win the buckeye state. he told us right here on the show last month that he would quit the race if he did not win his home state. so we've got ohio republican party's chairman coming up to tell us where the battle royale in the buckeye state stands at this very hour. on the democratic side, senator bernie sanders riding a wave of enthusiasm hoping for a
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michigan-like upset in ohio. but with strong performances expected by hillary clinton tomorrow in both florida, north carolina, oh, yes, throw illinois in there too, could this race be all but poafer? howard gulfman was a former ambassador to belgium. he says hillary will stir up sanders-style enthusiasm if she becomes the democratic nominee. on wall street you're looking at a green screen here. the dow trading in, basically, the narrowest range of the year. still up 38 points at this moment ahead of this week's federal reserve decision. oil sinking but not controlling the market right now. plus, the virtual reality gadget that's got south by southwest all agog. we're going to show it to you live. we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪ liz: yes, it is the big day
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before major primaries in huge states, but it's also the day before the federal reserve holds its two-day meeting in washington to mull yet another interest rate hike. fed funds futures pits areing no march -- betting no march rate hike. the markets hate to make bets in advance of the meeting, so again a narrow trading range. at one point the dow was down as much as 52 points, and then it went up more than 55 points. right now gains of 39. s&p just straddling the flatline here, slightly negative. the nasdaq looks pretty healthy, up eight points. so what is leading at least the turn around for the dow? boeing, mcdonald's, walt disney. these three names are what pumped the dow up, as we mentioned, to higher than 55 points. remember, some of these names like boeing and maybe even disney are names that big hedge funds have really wanted to go short on, and that has been a losing bet. basic materials are one of the leading sectors in the s&p 500, the biggest gainers?
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freeport-mcmoran, mosaic, along with alcoa. and we should also look at another miner that is hitting it out of the park today, cliff natural resources. that stock is jumping nearly 15%. this is an iron ore mining company. they've got iron ore operations in both minnesota and michigan. the company announced, guess what? it is going to be restarting a mine that had been idled in minnesota. that means more than 500 jobs. later in the hour a fox business exclusive with the ceo. he's going to discuss how the company is addressing the demand for iron ore, why are they able to restart this plant and, perhaps most importantly, they're headquartered in cleveland, ohio, and, of course, tomorrow's big primary, where does business want to see this race go? and that to the race for the white house, you can call it the buckeye bash. ohio voters gearing up to be the center of attention tomorrow. the republican voters have four choices in tomorrow's crucial winner-take-all presidential
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primary, but at this hour, folks, it figures to be a two-man battle. are voters -- will voters go for john kasich, their popular two-term governor, or flock to the outsider, billionaire businessman donald trump? governor kasich locked in an all-out dog fight, virtually tied in one poll with the republican primary front-runner. earlier today, in fact, just about the last hour, mitt romney campaigned alongside john kasich. the very first time romney has campaigned on behalf of any republican candidate this cycle. and he really came out and said john kasich is the man that should be in washington. but is that enough to halt the trump train? donald trump, as we mentioned just momented ago, was on stage, and he is addressing the violent protests and growing unrest surrounding his campaign rallies. here's what he said today. >> the press are saying, oh, but there's such violence. you know how many people have been hurt at our rallies? i think like, basically, none other than --
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[laughter] i guess, maybe somebody got hit once. but there's no violence. liz: both candidates prepping for their date with destiny in ohio, but the question does remain; will kasich emerge as the leading choice among more moderate republicans bent on denying trump a nomination? fox business' jeff flock on the ground in youngstown, ohio, and we cannot stress enough, jeff, ohio has named every presidential winner for the past 28 out of 30 elections. >> reporter: a republican has never been elected without winning ohio, liz. and, you know, john kasich, eight in ten gop voters polled think favor write about john kasich. but is that enough? take a look. we're at the trump rally. we're three hours out, and look at the folks already lining up out here. the question, is there going to be violence? well, i don't know. it's going to be very hard to get into this unless you're wearing a trump shirt and you're pretending you're a trump guy to sneak your way in, it's going to
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be tough. i don't think we're going to face the same sort of thing we faced in chicago. talk about endorsements. it wasn't quite an endorsement from mitt romney, but maybe the next best thing. but did already donald trump top him? take a look at this. a baseball signed by pete rose saying he wants donald trump to make america great again. i don't know if it's an endorsement battle in ohio, i'm guessing rose trumps romney. but we should listen to what mitt romney said so you can judge for yourself. here's what he said not long ago as he sort of said i'm in john kasich's corner. >> you are looking for someone to come to this state, and you did some interviews, and you concluded this was the man you wanted as governor. and the reason was not just did he say the right things, but he had a record. you could look at his resumé, so to speak. you could see what he'd done. he'd been in washington where he had helped balance the budget and
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economy began to come back and create jobs for people across the country. and so you said, you know, this guy's kind of been there. liz: here's the -- >> reporter: in a normal -- liz: jeff, we've got the ball. [laughter] >> reporter: oh, you got the ball now? liz: yeah. signed by disgraced major league ball team player and, of course, coach, pete rose. says, mr. trump, please make -- >> reporter: well, kasich does have urban meyer, so we're -- liz: yeah. ohio state. keep an eye on those lines, definitely. >> reporter: it's quite a night. liz: thank you, jeff flock. tomorrow's other winner-take-all primary is florida. but the latest polls show senator marco rubio trailing donald trump badly in his own state. so as we look at all of this, the significance of who wins florida but more so ohio really cannot be overstated. the last candidate to win the white house without the buckeye state was john f. kennedy. that was back in 1960.
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leapt us bring in -- let us bring in the chairman of the ohio republican party. jeff flock said no republican has ever won the white house without ohio. ohio is that key battleground. neck and neck, we've showed two polls. really looks tough to call. can you, being on the ground there, matt, call it right now? >> yeah. hi, liz, thanks for having me. yes, i did hear. that's something we know very well, that no republican's ever gone to the white house without winning ohio, so we better pick a republican who can win ohio, and there's no more popular republican in the state than john kasich. yes. he's going to win tomorrow, he'll win tuesday, and it'll set this election in a much different direction, set it on a new course. liz: how can you be so sure? again, i don't put a lot of weight in some of these polls. they have been known to be wrong on both sides, more so on the democratic side for some of these where bernie sanders has pulled out surprise wins. how are you so sure that it's john kasich? i know he is very popular in the state of ohio, and yet donald
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trump has surprised to the upside many times here. >> we've been voting for 28 days here in ohio, thanks to republican leadership. we have early voting here in ohio, and we've been chasing absentee ballots, we've been working hard across the state getting the message out, having our surrogates out there and then, of course, our governor has such a terrific record with bringing 415,000 private sector jobs back to the state, inheriting a disaster from ted strickland who wants to come back. we need to make sure that doesn't happen. when republicans took over in 2011 and john kasich became governor, he had an $8 billion budget shortfall that he had to fix, now it's a $2 billion budget surplus. liz: i agree -- >> all these great englishments. liz: we have followed this day by day, year over year because fox business launched in 2010 as the financial crisis happened, so we've watched all of these states. why doesn't he have a bigger lead in these polls then? >> well, obviously, this isn't a race for governor, this is a race for president.
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and john kasich is winning here. i mean, there have been really no polls recently that have showed him behind. all the most recent polls have showed him either tied or in the lead, and there's two more out today, arg and one from monmouth that show him with pretty good-sized leads. going into tomorrow we feel pretty confident, about a third of the vote gets disaster before -- gets cast before election day, i think we'll have an advantage, and john kasich will end up victorious. he surged at the end in new hampshire and michigan, and he's doing that here. liz: yes, he did. >> you end up being pretty confident, and i'm actually very confident john kasich's going to win tomorrow. liz: what if he does eat away at donald trump's delegate count? then you go to the convention in july which is in cleveland, and it could very well be a brokered convention. we have seen moments of violence throughout the weekend, certainly on friday night when that one event in chicago for donald trump had to be canceled.
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if that is the case and you do force a brokered convention, are you concerned about these scenes that we've seen of people jumping on stage, we've seen scenes of violence at events like we saw in chicago. how will you as the held of the gop party in ohio handle the security concerns that may prop up in cleveland in july? >> well, we're so excited about the convention coming to cleveland, and there's been a terrific plan in place already to handle the kinds of crowds and protests and other things that always happen at a convention. so we could have a piece of political history if we have a convention that's contested, and nobody's going to be threatened by the fact that -- liz: i don't want to see anything like that either. but when you have people who call themselves conservative -- and i stress that, they call themselves conservative. for example, ann coulter who tweeted that she'd like to see, quote, a little more violence from trump supporters, i mean,
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that's got to be frustrating for people who support other candidates who are doing this, you know, by the book. some would argue it's not trump's fault that there's violence. >> yeah. the bullying left is really the folks who we don't want to emulate. we never want to be like they are where you're not allowed to have a differing opinion. try to do that on a college campus today or anywhere elsewhere the left really tries to bully and yell you down. that's not the republican way. that's not what made us republicans and want to, you know, pursue the cause of liberty and the types of things that we do on the republican side of the aisle. so if we get to that point in cleveland, and i'm hopeful that we don't but if we do and we're at the point where we have to settle this at the convention itself, we'll do it in an orderly way, and our leadership at the rnc prepared to handle this properly, and we'll do everything we can to help them with john kasich's 66 delegates that'll be there because he'll win ohio tomorrow. liz: we shall see. matt, thanks so much.
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>> thanks so much, liz. liz: matt borges. we're going to discuss the democratic side of this with former ambassador to belgium howard gu,tman in a fox business exclusive. he is going to tell us if hillary clinton can overcome the so-called enthusiasm gap. we've got the closing bell ringing in 46 minutes. the dow is now gaining about 46 points. as we mentioned, ohio, key battleground. it's also home to 23 fortune 500 companies. cliffs natural resources is one of them. they've been supplying the u.s. steel industry with iron ore for more than 160 years and, boy, do they have an opinion on whether free trade is something that should be clipped, as donald trump has suggested. coming up, a fox business exclusive with the chairman and ceo on what he needs to see out of the next president to expand his made in america brand. and who comes out the victor in the buckeye bash tomorrow? go ahead and tweet me,, lizclaman.
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leave a post on our facebook page, visit lizclaman.com. more "countdown" on the way, folks. we've got you covered. ♪ ♪ [alarm beeps] ♪ ♪ the intelligent, all-new audi a4 is here. ♪ ♪ ain't got time to make no apologies...♪ this just got interesting. so why pause to take a pill? and why stop to find a bathroom? cialis for daily use, is the only daily tablet approved to treat erectile dysfunction
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reserve meeting that starts tomorrow, ends on wednesday. we'll know wednesday that they won't, probably, tighten interest rates. but again, market doesn't like to go in long before know what the fed will say about anything. it's the energy sector that's the worst performing sector of the s&p 500 right now. specifically, oil and gas companies, they're getting hit the hardest. some of the worst performing names, we have marathon, valero, chesapeake, so they are reverting to the mean which is down, down and down. oil is also lower today. don't mess with ohio. we're talking about ohio for the next 48 hours because that state has successfully picked the presidential winner 28 out of the last 30 elections. and don't mess with the 23 fortune 500 companies that call ohio home, particularly cliffs natural resources which was founded in 1847. the iron ore giant whose product is made in the usa does huge business overseas as well. but breaking news, cliffs just announced it will be restarting
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production at its north shore minnesota iron ore mine in may which had been idled in december due cothe chi -- due to the china slowdown. who does ohio business want taking over the massive corporation known as the u.s. of a? lourenco goncalves joining us, ceo, great to have you here, and congratulations on the news about restarting that plant. how many jobs will that bring back? >> we are going to bring back 540 jobs in minnesota. we're very pleased with that. liz: i would say, that's excellent. but we need to put this in perspective. 12,000 steel workers and mining workers have lost their jobs in america. so as you try and restart that, to what do you attribute this? is china starting to look better? >> well, we are starting to have the reverse of the bad situation that china put us in here in the united states. we need a level playing field. we are finally starting to see
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some movement toward the level playing field. the imports are, steel imports are starting to unside, and we are -- subside, and we are able to bring back to supply the american steel mills. liz: donald trump has called for tariffs. he says that we have free trade, but we don't have fair trade. you mostly have your australian mine sending iron ore to china, but what would that do if he clipped on major tariffs for imports from china? how would that affect your business? >> well, we need to understand that these tariffs, at the end of the day, will not be a penalty on anyone, especially on the chinese. keep in mind, china doesn't spend a penny in things that we have to spend money here. i will give an example that's easy to understand. environmental compliance. environmental compliance costs something like $20 per ton in the steel production and another $5 per ton in iron ore mining.
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so we're talking $25 per ton just on that. and as you all know, the big chinese cities are all polluted. we are going to have the republican convention here in cleveland without interrupting any production because our air is clean year round. liz: well, yeah -- >> this is small example. liz: i can say that wasn't the case for china in the olympics when beijing had people running around with masks on in advance of it. it was just a horrible situation, so yea to cleveland. but looking at exactly what is happening in advance of this election, you just mentioned regulation. you know, john kasich has been somebody who's said we've got to cut back on unfair regulation. who is the best candidate for business in ohio and business in the united states from where you sit as a leader of a fortune 500 company? >> i believe that the best candidates are the ones that can have things done. this campaign so far has became a show, and it is just entertainment. it's time to get serious. think we're going to have a
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chance here very soon here in ohio. liz: can you give me a name? >> yes. john kasich. that's a name. liz: you are -- >> he has experience, he has been working with balanced budgets, he has been doing things both here in ohio and prior to that in washington d.c. liz: this from a time where your stock has been pummeled, it has been very hard. you're coming back though today, up more than 14%. down 52% year over year but up 48% year to date. we'll be watching this very closely, and we will see what happens. with china coming back and you're able to start that plant up again, that's good news, sir. thank you so much for that perspective. >> thank you very much, liz. a pleasure to be with you. liz: anytime. lourenco goncalves, if you get the browns to win a national championship, i'll be really happy. [laughter] that's not nice. see, they don't believe in me, anthony. they don't believe that the browns will one day win the super bowl.
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>> they like being your ed mcmahon at the same time. liz: exactly. [laughter] you could argue that business in ohio wants that republican leadership when it comes to cutting back on at least unfair regulation -- not all regulation. he likes john kasich, but then there's the small business component. can there be a candidate who brings both small and larger business together? >> well, listen, i'm holding out hope for that, that the republican nominee -- because i'm a republican -- will represent that. but there's another element that we're not addressing, and that's the supreme court. it's not on the social issues that i'm worried about, liz. what i'm worried about with the court the labor regulation, the union regulations and other regulatory impact that the court ultimately has when they decide on these things. whether you like ronald reagan or dislike ronald reagan, he did a lot by appointing judges in the '80s -- some of which are still with us today -- that helped to create the right labor reform to make the economy more competitive in the '90s and the early 2000.
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and we sort of need that as well. add that to the layer cake. liz: anthony's going to be with us the whole hour. when we come back, we're looking at the markets and so much more. don't go away, we're going to take you live to south by southwest. dow is up 41 points. ♪ ♪ there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be.
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>> liz: breaking news, donald trump in tampa, florida, and right now he's at the convention center. he was slightly delayed in north carolina due to fog. his plane had trouble taking off. now he has landed and is in tampa and we should mention that sarah palin is there with him. her husband was in a very serious snow mobile accident of sorts but she's still standing on that stage. chris christie is with her the former governor of new jersey so we are going to be dipping in. bernie sanders could be able to surprise, 780 delegates are up for grabs and the vermont
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senator is looking to close the gap between him and hillary clinton while florida will mostly land in the hands of the former secretary state, at least how the polls show. bernie is leading in missouri and took away nearly a quarter of clinton's supporters in ohio. howard gutman, fox business exclusive. this is getting interesting. you know, hillary can surprise, bernie sanders can surprise. what do you think happens tomorrow? >> well, i'm one who believes the longer bernie sanders stays viable the better it is for hillary clinton. if bernie sanders, think of the alternative, liz, we would be watching hillary clinton playing solitary and debating e-mail. for the democrats having a real race even if it won't last forever, it's great.
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>> liz: this whips up a whole bunch of energy and it looks like the republicans have more energy for the moment although bernie sanders and the crowds behind him, they're incredibly passionate, they are so much more enthusiasm, why do you feel hillary doesn't have that much this time around? >> first of all, i don't think there was great enthusiasm at any time. many people like hillary, many more tolerate hillary. i haven't met many people enthusiastic. so i'm looking for donald trump to close the enthusiasm gap for help t other way by bringing the young to the polls not because they're excited by hillary but potentially voting against donald trump. >> liz: a lot of poll show that is in a head-to-head matchup hillary would beat donald trump. that said, these things could
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change specially considering the cloud over her head regarding the e-mail scandal. how does she get around that? what eventually happens there? >> i would not if i were a republican candidate get too far ahead of that issue because she gets exonerated you'll drop flat. i would stay on competency issues. early indications was that there was no tax on hillary's server. i was in the state department the unsecured server, that did get attacked, so what if the answer is her emails were more secured being on her server hand they been on the blackberry server. >> liz: which secretary of state did you work, howard? >> two years for secretary clinton and two years for secretary kerry and if i were a republican i would work on the effectiveness. >> liz: the cut-and-paste issue
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starts to bother democratic voters. it just doesn't feel right that there were workarounds and guided, it's the held to different standard issue even people that are supportive with the democrats. >> it bothered me where you had blackberries where you couldn't search youtube and to send a secure e-mail you had to go to my office, to a special machine with a special form, so what really know the e-mail system is way it of date but ultimately the review shows the last four secretaries of state that she didn't do anything exceptional. i would go on competency. >> liz: they'll be fighting a battle that's been won at least on her side. we are watching so much of this closely. will you come back, embassador? >> my pleasure, absolutely. his his howard gutman.
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lou dobbs and niel cavuto and company, will break down all of the results and name the winners the second the results come in and we are able to. very exciting. dow jones industrial is up 43 points. look at s&p 500, we are actually watching a classic battle on wall street. s&p is just slightly lower to flat, but at this hour, we just had the ceo of the number one leader of the s&p 500, he's going for john kasich and he believes that his company which hires many people in the united states will do better with less regulation. is there a fork in the road for adviser? rumors running ramped at this hour. trip advisor up 4 and a half
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percent. you want to take your love for roller coasters to the next level, wait till you see what jo ling kent is going to see you live at south by southwest festival. she's got it on her head. virtually reality goes crazy. including cloud and hosting services - all backed by an industry leading broadband network and people committed to helping you grow your business. you get a company that's more than just the sum of it's parts. centurylink. your link to what's next.
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we spend days booking gigs, then we've gotta put in the miles to get there. but it's not without its perks. like seeing our album sales go through the roof enough to finally start paying meg's little brother- i mean,our new tour manager-with real,actual money. we run on quickbooks.that's how we own it. >> liz: that means south by southwest, by the way t cool way to show it. it's spring break for nerds. basically features the hottest newest technology, films, bands and speeches from some of the world's biggest leader. jo ling kent, perfect for her. i love this.
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you're testing the virtual reality from samsung, tell us what it does? >> jo ling: hi, liz, we are on a roller coaster me and a bunch of my new friends. we are seeing an entire roller coaster and what you need to know samsung is partnering with six flags, oh, my goodness, this is high. nine park as cross the country and you can be superman, you can be in a fighter jet. that's really high. we are about to go down. oh, my god. we are on a roller coaster and samsung is one of the leaders and i'm looking to know -- whoa. virtual reality is actually one of the biggest themes.
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you see all kinds of different kinds medical, financial, a lot of different opportunities. what you see right now is we are literally going up and down. [laughter] >> jo ling: i wish you could be here, what you see is a new type of partnership in entertainment. i'm sorry. entertainment and so liz, if you have any questions for me because i'm on a roller coster? >> liz: do you feel like you're about to throw up because it's that realistic? >> jo ling: my stomach was doing butterflies. [applause] swro joe -- >> jo ling: what you can see the partnership going forward? we will be watching people that go to six flag responding to it. >> liz: it sure seems like
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samsung has the lead on this stuff. they are -- they're certainly beating apple by far, i don't know if apple is in this game, do you happen to know if they are? >> jo ling: yeah, what we are seeing is facebook coming up with high-techs later this year. south by southwest big theme in virtual reality and we will see if this meshing into the reality world takes polls. you see them in the living room and then in the general public. >> liz: we appreciate it. >> jo ling: thank you. >> liz: a whole bunch of new friends. jo ling kent has much more by southwest in the next hour. check this. she has the executive producers of the hit amc tv show the walking dead, can't wait to hear what they are planning on next. closing bell 18 minutes away.
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year got beaten down. >> why? >> liz: because they ran up too quickly. now you could have bought rather cheaply. so right now we are at 14.60. major shake-ups at d&y, second type of story you've done like this in a week or two. >> maybe we will nu stock. a lot of people say he's 64, you know, nelson peltz is a big activist and he's in the stock, this is the ceo change that everybody is predicting for the last year or two years that has never happened. right now bankers and i think investors that care about the stock that it might go up when they get someone new and different are starting and over the last couple of months three board members have resigned.
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that's usually an indication that there's something going on inside. the new ceo wants to, you know, has some input in the selection of board members. these three slots have not been filled and so what you have right now is a lot of talk inside the company that gerald hassel is 64 and the name that i hear repeatedly and there's a stealth replacement committee search going on by the board. this is what i understand inside bny, is that greg fleming, the number two guy at morgan stanley. he was told he wasn't getting the number two spot -- >> liz: or the number one.
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>> he's about 58, the timing and the age didn't match out. he quit, he abruptly quit as rereported on fox business. the name we keep hearing is fleming. i do know that the board of bank of america -- bank of new york, you know, has a stealth, secret potential short list of candidates and fleming apparently is on that list and that's the name from inside the company we keep hearing. we have -- we do have a statement from bank of new york and i will show what a nondenial, denial looks like. [laughter] >> recent announcements parts of process, bank of new york-mellon, we we are not going to comment on unfounded and unanimous speculation, however, linking the recent announcement
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that three are not standing for election. then i said, listen, can you just give me a yes or no? >> liz: you're misguided. >> you know what they said when i asked for a yes or no, no comment. take it for what it's worth. they try to issue that as a denial. marco rubio, when i did the story about how his donors were imploring him to drop out and he tells megan kelly, we have had no discussions. that didn't mean they didn't tell him to get out before he loses florida. >> liz: people change path simply to prove you wrong even though they were going to do what they were going to do? >> it's hard. no, i don't think so. they have fiduciary responsibility. just to do it to prove me wrong
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its intelligent drive is msystems...ng. paradigm-shifting. its technology-filled cabin...jaw-dropping. its performance...breathtaking. its self-parking...and self-braking...show-stopping. the all-new glc. mercedes-benz resets the bar for the luxury suv. starting at $38,950. >> liz: insurance group, bought the fame hotel and black stone agreed to still strategic hotels but it doesn't end there. let's go to the new york stock ebbing -- exchange.
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>> $12.8 billion, $76 a share, an offer that chinese is making for star wood and it blows out marriot's offer. shareholders will vote march 28th. for now china has been outbid ding marriot. very well known to americans, it looks like the chinese consortium is on a role -- war. >> liz: talking about billion dollar deals, skybridge capital has pulled about a billion dollars of hedge funds. the company pulled from juan paulson, so let's ask, where
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does the money go next, anthony scaramucci to talk strategy. why move that money out and where is it going? >> anthony: we have a dynamic movement to our portfolio when markets are changing, we see enormous opportunity. residential mortgage back, securities, commercial back securities, so that money is really migrating back into those books, if you will, away from what you were just talking with jerry which are m&a activities. it sowned good except the problem was even with $4.6 trillion of transactions, you weren't picking up the premium, liz, that we had predicted and you had the health care which really hurt a length of time of the hedge funds that we were allocated to. >> liz: they should have been long and long when they should have been short. if you look at what's happening
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to the markets, two-day federal reserve meeting, we had good data last week and oil is startling to settle, where do you see the markets going overall? >> we think it's unlikely that you're going to get a recession but our portfolio isn't really geared for the market. so we want to move in a different direction than markets, obviously we want to move in a positive direction, if you look at where spreads are for the securities that i'm mentioning, they have gapped out a lot. there's been a lot of technical selling in those areas like commercial mortgage. there's the opportunity. on a fundamental basis the stuff likes terrific, just overall s&p 500 it looks even more terrific, that's one of the reasons why we migrate it had portfolio. >> liz: janet yellen meets tomorrow. any move on interest rates?
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>> anthony: we don't. possibly one or two maybe rate increase ifs the economy holds. all bets are off when we go into a recession. i don't think we go into a recession. >> liz: to you think trying to catch the bottom in oil is a fools game? about -- >> anthony: i do. three weeks ago in your program you reported that they were freezing and then you had a 40% move in oil. when it's a controlled market, you have to be careful. >> liz: iranian oil minister said we will only join opec to 4 million, guess what, 2 million. anthony scaramucci of skybridge capital. you can see in the lower part of the screen, we just clipped 24 points off the gains of the dow jones industrial, 26 points right now. you can call it a win for the dow. oil pulling back by a 1.23.
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we do wait on the fed decision. there's the closing bell. david asman and melissa francis pick it up here after the bell. >> melissa: final moments of trading, you can see the dow trading up 15 points. i'm melissa francis. >> david: and i'm david asman. new at this hour. a candidate blitz. crowds are gathering for ted cruz. polls showing that it's going to be a close race in illinois between cruz and the trump, we are going to break down all of the numbers for you. the rest of the candidates are out in full force as well ahead of tomorrow night's crucial votes in five big key states. we are just one day away from super tuesday, 2.0, the pressure is on.
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