tv Countdown to the Closing Bell With Liz Claman FOX Business April 13, 2016 3:00pm-4:01pm EDT
we want to bring to you right now. this video just coming into us of a u.s. navy ship that encountered airspace in the baltic sea. the u.s. navy destroyer was conducting drills when the two jets made numerous close range passes that the navy destroyer deemed unsafe. liz claman, you take it from here. liz: wow! that is close. one of the quick buzzes. more on that in just a minute. wall street hitting new 2016 highs, as financials, the banks drive the markets. look at the dow jones industrial average, we are up about 160 points after jpmorgan started off the big party here beating the street estimates. hillary clinton and nor bernie sanders also out beating the streets and pounding the pavement of new york city today, just six days before the crucial new york primary. clinton meeting with al sharpton and addressing his national action network convention.
tackling race, gun violence, black lives matter and white privilege in her remarks. senator sanders making waves of his own marching with verizon workers in brooklyn and picking up two big endorsements along the way. first fellow senator is endorsing him and the new york transit workers union giving the thumbs-up to bernie sanders. congressman sean maloney why none of that worried hillary clinton. he is a clinton supporter. over a year ago he said i'm with her. he tells us how empire state win makes her unstoppable. the republicans nowhere to be found in new york today. donald trump in pittsburgh as a new poll shows him leading in maryland. senator ted cruz in pennsylvania as well. stephen miller on whether this means cruz and kasich are conceding new york. new york aside, the two states that remain crucial for this election. we've got the former governors
of both states on why they matter so much? plus the fbi is finally revealing just how it cracked open apple's iphone, peabody's bankruptcy and kobe bryant's farewell. we're less than an hour to the closing bell. let's start the "countdown." . liz: okay, we just lost a teeny bit of air here. still up 169 points. just over 120 points away from dow 18,000. make it -- well, 109. every time you blink it's closer or further. highs of the market of the session up 189 points for the dow. you're looking at pictures. take you to philadelphia, these are live pictures of a situation developing over the past few hours. these are some of the 40,000 verizon workers who have walked off the job at this hour. the largest u.s. strike in years by the way after negotiations between the union
and verizon management stalled. you should know that the strike could affect service in verizon's file internet, telephone and businesses services. we have verizon down 1.5%. who knows how long this will go. we are watching it carefully. it is a big strike, it matters to united states customers but also matters to the politicians. for that we have team fox business live coverage. adam shapiro at the site of senator sanders event later today and peter barnes live in erie, pennsylvania. we need to batten down the hatches, six days away from the new york primary and bernie sanders is hoping to capitalize on momentum to close that gap with democratic front-runner hillary clinton, but not so fast says hrc, the former secretary of state leaving no line of attack untested. clinton's campaign accusing sanders of, quote, rigging the
system by seeking to pick off the super delegates that have already pledged her support to her -- their support to her. this sounds like donald trump's accusations on the other side. democratic front-runner, as you can see, hillary clinton met with reverend al sharpton after speaking at the national action network founded by the civil rights leader. adam shapiro joins us live from manhattan. look was the meeting with sharpton more bridge building or bridge repair after the superpredator gang controversy over comments hillary clinton made years ago? >> reporter: you could call it bridge repair, bridge building, reaching out to a core constituency. something like 62% of them favor her over bernie sanders. 31%. she did speak to the national action network convention as you can see in the video. that was after she spoke to an immigration organization here
in new york city, and basically what she's saying is that white america has to listen to the issues that are confronting people of color. here is hillary in her own words. >> we need to recognize our privilege and practice humility rather than assume our experiences are everyone else's experiences. >> reporter: okay, so let's talk about bernie sanders. take a look at washington square park. it is closed right now, closed all day, but thousands of people are expected to be here for an 8:00 p.m. rally. they're going to open the park at 5:00. sanders got the endorsement, liz of the tw, the transit workers union. a lot of people in new york won't remember this. in 2005, they ran the strike, they run the subways, buses. new yorkers endorsed -- the union endorsed sanders, the
42,000 men and women who drive the buses and subways. sanders is coming off the endorsement to the ral eechl the park opens at 5:00. liz: the transit workers, verizon, big voting day for sanders. to the gop side, ted cruz getting ready to kick off a rally in erie pennsylvania, a full week after the next big contest. new york. this as rival donald trump builds a significant lead in the new york polls. on your screen, donald trump 55%, john kasich in second place at 20%. senator ted cruz at 19%, which has a lot of people asking, has ted cruz already conceded the empire state to trump and moved onto the next opportunity? peter barnes standing by on the campaign trail in erie, pennsylvania at the cruz event. what are you hearing about the cruz campaign strategy here? >> well, liz, i think you're exactly right. the senator is basically conceding new york to donald
trump, who also is looking ahead. he is in pittsburgh today. senator cruz will be giving, holding a rally at a concert hall at amusement park on lake erie, starting in about 90 minutes from now. pennsylvania holds its primary on april 26th. two weeks from now. with several other states. but one thing that donald trump is not amused about is the system for naming delegates in some states like colorado. he's been raging against the process this week at rallies in new york, calling the system rigged and dirty, but with his organizational strength, cruz has been dominating this process. he captured all 34 delegates in colorado, for example, and that will try to continue his strategy of denying trump delegates so that he can't win the nomination outright when he heads into cleveland this july
and forcing an open convention, liz? liz: peter barnes, thank you very much. and peter is there at erie, if anything happens we will bring him to you. with three months to go until the conventions, both races are in an all-out dogfight and will likely go extra innings, otherwise known as california. california is the extra inning here. it has by far the largest bloc of delegates on the primary docket. california has the power to change the face of either race and on both the democratic and the republican sides, the front-runners are up by single digits in california, but check this. the delegate race is hardly all about california dreamin'. many say virginia greatly matters as well, though that state has already had its primary. we're joined by former governors of both the crucial states. democratic governor from california gray davis and republican senator and governor from virginia george allen. welcome to you both.
governor davis, start with you. california is in somewhat of unlikely position, nominees were already decided but with 172 gop delegates 5, 46 for the dems, what does the country need to understand about the california primary this time around? >> well, generally as you say we're at the very end of the process, but tons more delegates in other states, i think the democrats are getting 310 or 330 in new york. we're at 540. if it does get down to california, people have to work hard for a vote here. hillary has a lot of good feelings in california. people supported the clinton name on many, many times in the valley including hillary clinton against president obama, then senator obama in 2008. i favor her in california, but she's going to have to earn it, work hard, and i would pick trump as the likely winner on the republican side. liz: to that end, donald trump
is certainly ahead in california. governor allen, donald trump already won your state's primary, and this is actually going to matter going into the convention. he missed the deadline to assemble lists of potential delegates in virginia while ted cruz as i understand it has delegate candidates in ten out of the 11 congressional districts. what happens with virginia come the convention? >> come the convention on the first ballot in virginia, all the delegates were apportioned by their vote and donald trump will have one more delegate vote than marco rubio who came in a close second. cruz came in a distant third and kasich in fourth and so forth. ben carson had a few delegates. if it goes second ballot, now if donald trump wins most of the big new york pizza pie and does really great in the big enchilada of california, he may get it on the first ballot. if it goes to second ballot then some of the delegates are
then released from that responsibility of the a prime example is in southwest virginia. last weekend, the ninth district where donald trump did great. he did better there than any other congressional district in the state, but the delegates who were selected there were 2-1 for cruz, who didn't win a single county or city in virginia. there is the disconnect between the views of the voter and those who are getting elected as delegates, which i think is disconcerting to some people, if it goes to the second ballot. liz: it is upsetting but guess what? so far those are the rules and rookie mistakes you can't afford to make. governor gray davis, we're not seeing that on bernie sanders side or hillary clinton side. as we delve into what some voters i would hope are craving, that's policy ideas. hillary clinton rolled out this idea today. the office of immigrant affairs to coordinate policies and programs with both federal and state opportunities, but migrants are a really touchy issue right now and what do you
think that will do for her candidacy? >> well, i think the entire immigration process needs to be looked at more carefully. liz: but is creating an office, yet another line of bureaucracy, the answer? >> two ways to look at this. we have the statue of liberty, we welcome people all over the country. on the other hand, we are entitled to make sure people who come into the country operate safely and want to abide by the law. i remember in san bernardino, mr. farouk's wife doesn't even show up for her first spousal visa meeting. liz: outrage. >> second meeting she shows up and answers a third of the questions, they give her a visa. whether you are looking at coordinating activities, following the law, and making sure the vetting process actually vets people we don't want to come into the country, i think we need much more
attention paid to the immigration process, and i'm in favor of the general concept that hillary announced today. liz: as we wait on more policy, governor allen, you had the last time we spoke well before marco rubio dropped out endorsed marco rubio. now that he's not in the race, are you ready to throw out a name for us? >> no, i look at it now like giants-eagles playoff game. as a redskins fan is not much excitement for me. what i'd like to see is the rest of the contest be fair and the will and the years of the people decide the decision, and ultimately get to the super bowl, and ultimately i suppose supporting the giants when they are playing the new england patriots. liz: trump is a new yorker. >> kasich is the cleveland browns but they never make the super bowl. liz: hold on! i resemble that remark. >> george, your rams are coming back to l.a. we can agree that's a good
thing. >> that's a good thing and i'm for the anaheim ducks in the stanley cup playoffs. >> l.a. kings. you guys! >> i like boudreau. liz: this can go on and on. let's not get on fifa soccer. good to see both of you, former governors gray davis and george allen. much more later. sean maloney, his boss was hillary's husband, president clinton. we have trump senior policy adviser stephen miller for more on the front-runner fight. with the closing bell 46 minutes away, the markets are surging to new highs. we are under 100 points to hit 18,000 on the dow. traders coming up next to tell why you today's date, the 13th is so lucky? that's in the floor show. surging today, the maker of those action cameras that capture video and the craziest stunts. guess what gopro captured? reports say gopro has poached an apple executive coming from
the iphone and ipad division to lead its new hardware design group. gopro flying high, up nearly 20%. and through the years, this guy has flown through the sky to score basket after basket. kobe bryant makes final farewell after 20 years as a laker. how much will it cost to you witness the historic moment? wait until you see this one. we'll tell you when "countdown" continues.
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liberty mutual insurance. . liz: closing bell, 41 minutes away, best levels of the year. that's what we're seeing right now. in the meantime, don't you love it when people say i have good news and bad news, which do you want first? give you jpmorgan's good news first, it handily beat earnings estimates, reported earnings per share of $1.45 while the street was expecting $1.26. the bad news, the revenue fell 6%. charlie gasparino has been warning about this, especially fixed income desk trading. wall street all about perspective. the stock is moving higher by 4.3%. the big banks kick off a host of earnings this week. tomorrow bank of america along with wells fargo and friday citigroup is reporting, wednesday, thursday, friday,
done with wednesday, watch out for tomorrow and friday. this is interesting, speaking of perspective. so far for 2016, financials are the worst performing sector. today they're the best out of major s&p sectors. lots of them moving higher. bring in the traders at the new york stock exchange, cme group and the nymex. hello, mr. stephen guilfoyle. >> good to see you, liz claman. liz: we're almost at dow 18,000. i know it's just a number. based on the trading, what's at forefront. the beige book last hour from the fed. nothing surprising, looked decent. >> nothing surprising except they are so optimistic about retail sales when we know retail sales were plain awful for the last three months. let's face it, high cash levels, short interest. all the safety plays are out of favor. we have a chance to go as high as 2085 tonight, and i just don't see that much room for a significant sell-off in the short-term. liz: in the short-term.
retail sales for march, which you referenced, they shrunk three tenths of a percent. the estimates were to see a gain of eight tenths, normally that would send the market into a tailspin. today is april 13th, what's so lucky? >> lot of buildings don't have 13th floor and most airplanes don't have a 13th row. it was good for the markets for the antiquarian reasons we have a record short out there. technicals look okay. at the end of the day with the beige book coming out would be something to fuel the markets. i think everyone is on the hopium trade where they hope things are going to get better and not get there. we're going to talk about all-time highs, we're going to attract mom and pop into the trade and ultimately get disappointed. we need to see things pick up and they're not. retail sales this morning, ppi
this morning, we're going to revise down gdp again, where is the good news propelling the market higher. liz: i had not heard that. there's a hopium addiction with the bulls, they're winning that trade. oil pulling back slightly. oil inventories today, not surprised to see prices come down a bit. all roads lead to april 17th when of course the big opec meeting happens. in advance, what are traders holding to? >> there's a few things, news out of russia, out of russian agency that said russia and the saudis came to an agreement, then the saudis said no, and oil went down. there are a couple of technical points to look at. oil trading above 200 day average which is bullish for oil. going up along with the markets or the correlations are there. and i think this is all prefight hype. the big fight is on the 17th. whatever people say back and forth, you don't know what's going to happen.
right now it's looking good for oil, summer driving season coming up. it's going to stick around. >> you know what i think that is? liz: go ahead. >> the russians and the saudis spreading rumors so they can sell this stuff for $40 today, tomorrow and friday before they have to sell at $38 monday. liz: iraq is the decider here, we have what iraq does, without iraq, they don't necessarily have kuwait, maybe not saudi arabia. good to see all of you guys, thank you so much. our fave traders here. watch this week's edition of "wall street week." anthony scaramucci and gary kaminsky talk to kyle bass. if you don't know kyle, he made a big great trade back during the housing bubble. he made a lot of money on the trade. listen to what he believes next. closing bell 37 minutes away.
surprising new details on how the fbi did crack that iphone of the san bernardino terrorist. the unlikely and less colorful source the government used to do dirty work to end that legal standoff with apple. you gotta hear this. and it's not just kobe's big night tonight, the golden state warriors on the verge of history as the nba decides to make a momentous move that will change the complexion of the league. what's that about? we're going to show you that story and much more next on "countdown to the closing bell." dow is up 174.
lakers face the utah jazz. he is now trending on twitter, he has endorsed nike and nike cobbled together what is on your screen, sponsored athletes to make a tribute video, and kobe's signature black and gold shoes. and rory mcelroy come of the first to honor kobe using black and gold cleats at the masters. you need to get ticket sales which are soaring for the last game but the golden state warriors versus memphis grizzlies is stealing the spotlight, warriors have a chance to make history going for a record 73 wins and if they win they will break the regular-season record set by michael jordan, chicago bulls, all the way back in. look at the most expensive
tickets for tonight's game, the lakers, season section numb 110, roe a listed at 1 $84 each, the most expensive tickets going for 5014. we have breaking news on players jerseys, espn reporting the nba going fee for. nba owners are expected to greenlight slapping ads on player jerseys for the 2018th season. commissioner adam silver says the as won't affects competition. in an explosive coup you will only get on foxbusiness we actually obtained a couple of these jerseys. these are early perversions. here you go. yes. the foxbusiness apps.
stopped. can we get a tight shot? that would be fun too. that is my floor director, austen. the best for providing these jerseys and we left on the sticker. the real deal is going to be little patches on the left of the shoulder with the add on them. are you okay with that or no way? tweet me at liz claimant, facebook.com/liz claimant and you can visit our website liz claimant.on for the greatest business news. for the juiciest mystery in the tech world, who helped the fbi get into the san bernardino terrorist iphone? we put on the detective had with jo ling kent. jo ling: the fbi used professional hackers but not necessarily from the is really firm. there are three types of hackers we are looking at, that share
software companies and governments that need to be fixed and there is are the black hats who s you can't forget the gray hats sold to government or surveillance companies. according to people familiar with the matter at least one person who helps the fbi in the san bernardino case is a gray hat hacker cracking the 4 digit pin on the phone, the hard part, the challenge was to disable the feature that wiped out the data after the passcode. hackers exploited a software flaw in the operating system and went on to create hardware that helped the government get access to terrorist data. liz: everyone was saying it is the israelis. it was an israeli company but we don't know who the individual was. thank you so much. closing bell, we just hit session highs with the dow jones
industrials, up numb 193 points with 28 minutes to go. hillary clinton and donald trump may be front runners nationally and in the state of new york but that has not stopped either of them from feeling the burn. bernie sanders and ted cruz, ted cruz and bernie sanders continue to nip at their opponents heels, what do trump and clinton have to do to stay on top. we take that question to two of their biggest supporters, congressman sean patrick maloney endorsed hillary clinton and senior advisory stephen miller, both will go one on one on countdown. it's more than the cloud. it's multi-layered security and flexibility. with centurylink you get advanced technology solutions. including cloud and hosting services - all from a trusted it partner. centurylink. your link to what's next.
liz: we are up 180 points for the tao. the s&p charging ahead. high as a session we need to be for the s&p is up 21. we are up 20.5 points. less then a week to go, and democratic candidates pulling out the stops for the state today. but the front runner has her work cut out for her because naturally hillary clinton is tied with bernie sanders. this as he scored two endorsements today, his first senate endorsement from jeff merkley of oregon and the backing of the new york transit workers union. i'm joined by a supporter of hillary clinton, democratic congressman from new york sean patrick maloney, getting closer on the national stage, not so much in new york but talk about how she differentiates herself instead of looking like she is trying to catch up with certain
messages, affordable college, that was bernie sanders, i hate the trade deal, that was bernie sanders. what makes hillary special to a new york voter who is undecided? >> i have done a special perspective on this. i worked for hillary clinton right out of law school, worked for her husband on the white house staff, in little rock, arkansas, very active in the children's defense fund and cared about for decades but the fact of the matter is whether we are talking about college affordability or things that matter to working and middle-class families like the one i grew up in hillary clinton has been fighting these issues for a long time, she has real plans and she can get it done and that is why you see her beating bernie sanders by double digits, people in new york read her and overwork and that is why she is going to win. liz: you have a great background with the clinton family, go back to your time with bill clinton, a hugely popular president even after he left the white house, incredibly popular with many groups of people in the united states. in the last week there was the
situation where he got into somewhat of a screaming match with the black lives matter people who were the ones that started it bringing up a very old accusation of hillary clinton having said something in 1994 about gang members, kind of ridiculous but is he a help on the campaign trail or a hindrance? >> any of us who worked for president clinton or the democratic party know there is no one more popular with democrats than president clinton and it is because when he was in office we created 20 million new jobs, 800,000 jobs in new york, middle income rising, people felt better about the country and where they were headed. he is a tremendous asset, always has been. this is her campaign and her plan for working-class families that are really at the center of this and that is why he is doing so well in new york. new yorkers know her best, whether it was in north country,
the 10th mountain division western new york, the state capital. liz: no doubt she has traversed this state and when you look at it from a fair and balanced point president clinton has run campaigns before that were successful. he was at the hebrew home for the aged in new york city. that is is 1000 voters who actually vote, elderly tend to vote, things are facilitated so they can so for him to have paid attention there certainly matters but bringing it to the national stage, let's they donald trump is hugely popular in new york and in certain states in the united states what does she do? >> hillary clinton will be ready for donald from. the fact is donald trump is speaking to a narrow slice of the american electorate and hillary clinton is speaking to everyone else, hillary clinton is speaking to our families who want a better country for themselves and their kids and if you look at her program and how
comprehensive it is it will bring us together and move forward and keep our country safe. donald trump is dividing us and bringing the worst in his own supporters and that is not a path that will be to the future. never has been, it will not be, they can do well in a slice of the primary electorate, at the deep end of the pool, she is going to beat him up pretty good. liz: great to have you, congressman. thank you so much. congressman sean patrick maloney. that segues to fair and balanced, the front runner fight involves donald trump and the gop nomination is not set. neck in neck, senator ted cruz close to blocking donald trump on a second ballot at the gop convention in july. if it comes to a contested convention, what happens?
all the republican candidates have moved on from new york ahead of the state's primary. where does trump go from here? how is he keeping his lead? let's bring in the senior policy advisor stephen miller, let me let you address what congressman maloney talked about. only for a certain segment, you take it from here. >> i will interject them hard metrics into this conversation. pugh did a poll recently that asked the american people whether immigration not to be kept the same, the rates thought to be lower or raised. by a 3:1 margin voters said lower immigration. hillary clinton represents the extreme tiny minority of this country, the things that migration should be increased so she speaks to a tiny tiny sliver of the american electorate on the core defining issue of 2016. congressman maloney, her immigration policies, their won't be a middle-class to care about anymore. this is a good example how she
is not going to do well against donald trump. liz: there may be a bigger issue for hillary clinton, the near-term question about ted cruz. senator ted cruz, the washington post reporting, is close to ensuring donald trump will not win in a second ballot in the gop race. how worried are you and team trump about something like that? >> we are expecting to get to 1237 delegates but i want to make a point that is important. in recent days our campaign has said it was wrong to cancel the election in colorado. our campaign criticized insider deals, delegates are pledged to donald trump, made secret arrangements to nullify the congressional district and vote for ted cruz, we have been outspoken about this and other inside dc, those are the rules. these were established to protect political interest and portray working americans for decades. we are proud of the fact the campaign is criticizing a system
that led to the disaster the ruined the middle class. liz: i am with you on some of those issues where it appears to be a complete mess but donald trump is committing errors here. we can pick up the virginia example, the fmer governor of virginia, team trump missed the virginia deadline to assemble potential delegates and ted cruz has delegate candidate in ten of 11 congressional, he won virginia but missed the deadline to assemble is delegates to ensure he got them come cleveland. >> let's talk about two issues. first on the actual tactical issue of winning delegates we are putting together in place the best team that will be in the campaign. and to the top of the delegate team we feel very confident about that. the second point which is the
moral point and i'm going to make it and happy to make it it is wrong to disenfranchise voters by going around the country making secret deals with inside party officials, elected gop officials and saying your gop district representing 70,000 people support donald trump and rejects ted cruz but we want you to make a secret pact to nullify the vote and support ted cruz. ted cruz has only won three primaries outside his home state and trailing by 2 million votes, there will be more votes than that, has no democratic path to the nomination. the only way ted cruz can win is nullifying ballots that have been cast. liz: a lot of people might agree with you, the feeling that some of this is unfair. senior policy advisor, see you next time. keep it here for complete coverage of the new york primary next tuesday, april 19th, lou dobbs get things started at 7:00 pm before neil cavuto and the foxbusiness all-stars
delivering all the returns and all the news. stay with foxbusiness for your election 2016 coverage. we are coming right back, the dow is up numb 187. over the last 25 years, i've researched more than 450 financial products. i found that one of the best-kept secrets to help you plan for your retirement is the home equity conversion mortgage. it's a line of credit for homeowners age 62 or older. and it's offered by a company you can trust- one reverse mortgage, a quicken loans company! call one reverse mortgage now to get the details. their licensed experts will tell you if you're eligible, show you the line of credit amount you qualify for, and will send you a free information kit. the home equity conversion mortgage line of credit is even better than a traditional line of credit... because you can make payments if you'd like, but no monthly mortgage payments are required; this program is government insured; and the money available to you increases every year.
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and learn more about the kinds of plans that will be here for you now - and down the road. i have a lifetime of experience. so i know how important that is. liz: the largest coal producer peabody energy has filed for bankruptcy, sharp decline in coal prices weighing on the company which was unable to sustain its debt payments following an expansion in australia. as you can see, suspended trading here but the shares were down 90% over the last 52 weeks. jeff flock has more on what this means for the broader coal industry and the names people might know. jeff: phil: peabody was founded in chicago in the 1800s, look at the long slow decline in stock
number reminded of the john prine song, the one where the sun asked his dad, take me back to muhlenberg county which was paradise and the dad says sorry, my son, your too late in asking, mister peabody's train got holloway today, prophetic perhaps. it is partly you blame the obama administration but it it is oil that was part of the problem, fracking bringing plentiful natural gas and other ways to generate electricity, cheaper way to generate electricity as much to blame for the call downside is anything else but companies that have survived, take a look at the coal etf since the first of the year up 32%, look at a company like console energy which has not only called but natural gas investments up 72% since the end of the year. coal companies, the ones that have survived, a small group now, the ones that have survived
are stronger going forward. liz: people would not have known that. some people don't check the daily pics. there has been a nice move to the upside. thank you so much. we want capitalism to work, we will watch this closely. closing bell, 7 minutes away. head of the imf, sending up morning fares about the global economy, we have worries we can outline here but one fund manager says there is a world of money made, emerging markets, how can you say whole or to big profits. that is next on countdown, dow is up numb 182.
component caterpillar it may -- it is maintaining its payout but an energy name has drastically cut its payout. go to the new york stock exchange. ashley webster, to this story. >> okay, liz. we're talking about caterpillar says it will keep its quarterly dividend at its current level. 77 cents a share. balance sheet remains very strong and therefore able to do this, not make a cut in its dividend. not the same story in the oil patch. national oil develop varco this week slashing its quarterly dividend by some 89%. it has to save cash. look at over all picture for the s&p 500 with regard to dividends. 328 companies upped their dividends, 22 cutting them and as you can see five stopping payouts or suspending them. generally on the upside.
caterpillar of course has been in a tough industry since beginning of the year. the last couple of years to be honest with you but maintaining that 77 cents quarterly dividend, liz. liz: maintaining is better than cutting what we saw with national oil well varco. ashley, thank you very much. >> sure. liz: in a bearish report the imf dissed the global economy. chief christine lagarde calling it the new mediocre. they cut the forecast. is it time to reject the normal? our guest says look at emerging markets. he is the portfolio manager at neuberger berman global markets. you say reject what christine lagarde says. why? >> look at statements coming out of the imf people have been depond dent about emerging markets, particularly china, and i think that is probably too despond end.
if you look at china you don't fully believe the 7% number, looking at 6.5. but that is one of the brighter spots globally in the global funk of growth. liz: liz: if you have to pick country, emerging market names you think are real opportunity for our viewers watching right now, what are the names? >> it is not homogenous, liz, you're right. if i'm looking at emerging markets, i think countries with good stocks to buy, macros looked underpinned, to me it would be india and would be mexico. i would look at china as well because people are too despondent. it is still growing 6 plus percent. liz: thank you very much, conrad. we'll put the countries he wants to avoid on our facebook page. facebook.com/lizclaman. with a gain of 186, i wouldn't say we're within spitting distance of dow 18,000.
dow, s&p and nasdaq set to close at new 2016 highs. [closing bell rings] david asman and melissa francis pick it up for the closing bell. david: duh dow and s&p 500 hitting highest levels for the year as we approach dow 18,000. this is where we ended the day. i'm david asman. melissa: i'm melissa francis. this is after the bell. new at this hour, ted cruz getting ready to take the stage in erie, pennsylvania. the senator trailing in brand new polls out of new york. perhaps he is why he is setting up shot in the quaker state. war of words between him and donald trump is heating up. his latest jabs comparing trump to a mobster. house speaker paul ryan may not be in for running for president but that isn't stopping misdemeanor in the gop from picking a new white knight at convention time. howard kurtz tells us who is on this perhaps fantasy short list.
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