tv Countdown to the Closing Bell With Liz Claman FOX Business April 22, 2019 3:00pm-4:01pm EDT
someone who maybe uses or has used marijuana, that might not affect them. it's also true that marijuana stays in your system a lot longer than other drugs so you might have used marijuana a month ago and you can failure drug test. charles: all right. thank you very much. dow jones industrial average is off 54 points. liz claman, it's been sort of a mundane monday, hasn't it? liz: well, yeah. you could say that we've got the earnings deluge coming, right? but what about the story that's right in front of our faces, charles, the breaking news, the global oil markets are still gushing after team trump ends waivers that allow eight countries time to wean themselves off iranian oil. u.s. crude still spiking in the after-market session after gaining 2.5% during today's early official session. wait until you see the collateral damage. secretary of state mike pompeo did announce earlier today the action, saying it's time for iran to see its oil money trickle down to nothing.
but could the move have unintended consequences that give one of america's biggest adversaries new power? we are going to take you live to the white house for a report. wall street trying to figure all of this out, what it really means. one thing for sure f it weren't for the energy sector muscling higher, losses across the board would be deeper. there's never a good time for a fire, but the timing for tesla is just awful. the electric vehicle giant holding its investor day on autonomous cars but could an incident in shanghai cast a shadow over elon musk's self-driving event that's about to kick off in two hours? our top tesla panel is here. and both the left and the right want to break up big tech or at least put the thumb on it. but former google executive chairman and ceo eric schmidt now says google's privacy woes are all a matter of perception. what does he mean by that? we've got a first on fox business interview with the new
ceo of the information technology industry council to tell us what big tech fears the most. less than an hour to the closing bell on this monday. let's start the "countdown." liz: we have this breaking news. disgraced founder of what was once the hottest tech startup of silicon valley, theranos, and the breaking news is elizabeth holmes, who founded the company, is expected to arrive at the federal courthouse in california in the next hour for what's called a status hearing. holmes has been charged with two counts of conspiracy to commit wire fraud and nine counts of wire fraud after allegedly making misrepresentations, big ones, over theranos's financial condition and also misleading doctors and patients about the accuracy of the blood tests that she said were brand new, never done before, and would change
the way tests were conducted of your blood. if convicted, holmes could face a maximum of 20 years in prison and a $250,000 fine for each fraud count. we've got our eye on the courthouse. we will keep you posted on elizabeth holmes and if and when she shows up, she is expected to show up, but of course, she has captured the attention of so many people because she convinced them that this company would work and she got donations and she got investors to the tune of hundreds of millions of dollars, and she was at one point considered the youngest self-made billionaire and now she is worth zero. all right. investors holding steady ahead of this week's major earnings releases. 40%, by the way, of dow members will be posting results along with another 148 s&p 500 companies, including huge tech stocks. taking a look at the dow jones industrials, as i said, it would be a lot worse if energy shares weren't pushing it slightly off the floor. we are down 59 points. the s&p, flat. we've got the nasdaq up about
7.75%. after a rough year for consumer goods giant kraft hooieinz, the company announced it will be replacing that gentleman. the current ceo will be replaced with the former chief marketing officer for anheuser busch. the change is going to go into effect on july 1st, after he steps down after having helmed the company for six years. kraft has been facing weaker sales and is under investigation for accounting practices. the s.e.c. is really taking a microscope to the company. kraft initially, you can see on the far left side of this intraday picture, it jumped on the news but it's back down about half a percent. it's been a very rough go for kraft heinz. this is one warren buffett watches very closely because he is a huge owner of this stock. if it's broke, you got to fix it. samsung says we've got to fix it so we're delaying the release of
the new galaxy fold phone. this was the one that folds right in half or opens up, fabulous, right? looks so cool? it's got some problems. it was originally supposed to go on sale this friday, but then we got reports that the phone began breaking while reviewers tested it. samsung said hold on, it has its issues and the issues on the $2,000 phone came from the hinge and too much pressure being applied to the display. so a new release date will be announced in the coming weeks. forget about friday and waiting in line. change of plans. a new look is not working out very well for bed, bath & beyond, the retailer announcing a transformation of its board of directors. what they will do is add five new independent directors. the board will now be comprised of ten directors, six of whom are women. but the changes, not satisfying the activist investors who say the board overhaul is not enough and that the proposed additions do not have the skill set or
retail experience to effect real change. bed, bath & beyond plummeting, down 4.75%. it's had a rough couple of months here. now, could the united states have just created a power play opportunity for one vladimir putin? earlier today, secretary of state mike pompeo announced the u.s. will end its waiver program at the end of -- actually, i believe it's april, i think may 1st, they've got to be out. that means the countries that had been allowed to buy iranian oil without facing any u.s. sanctions have to find their oil elsewhere. those countries need to get their oil from somewhere, so take a look on your screen. we at "countdown" put together the top oil producers in the world. number one, united states, 15.6 million barrels per day output. saudi arabia, 12.1 million barrels per day. not far behind that, russia, 11.2 million barrels per day. could russia now be in this
unbelievably powerful position where opec and russia get to decide the output? the "wall street journal" reports that vladimir putin's influence has already been growing exponentially in the $1.7 trillion oil market, particularly in the middle east. opec, an organization that russia is not a member of, is beginning to pay attention. so much so they are calling it opec plus. the plus sign, russia. blake burman is at the white house. blake, do you get any sense that washington is worried about russia now becoming sort of the decider or the consigliere when it comes to opec in this global market? reporter: we have been speaking to folks here at the white house and at the state department throughout the day. russia is actually not a country that has come up as it relates to this decision that was rolled out earlier today by the secretary of state mike pompeo.
what does this mean for your investments as well as how much you could be paying at the pump for the near future? to our floor show. phil flynn, you are always sort of on the pulse of the markets but we have a bifurcated discussion here, the consumer, the investor. >> i think for the consumer, it's going to be tough. we are going to see the highest prices for gasoline we have seen
in years and it's going to be a bit of sticker shock. already, according to one survey, gasoline prices have had the most consecutive days without going down in history and it's only going to get worse in the next few months. if you look at the big picture, what this is going to do to the market, you mentioned that russia might try to fill that void. the problem is that with russian oil, it's awfully heavy and it's not good for gasoline prices. that's not going to be the ticket. we mentioned the administration mentioned saudi arabia and the unit united arab emirates. the uae has very light oil, very good for gasoline, but it's going to be tough to replace that oil real quick. liz: yes. let me quickly ask because today, it's $2.84. we haven't even gotten the lu lundbergh survey where every single week you are able to see exactly what gasoline prices are doing. i do have to quickly ask you, will what happened this morning with the state department making the announcement, how soon will people see that at the pump?
>> immediately. you will start to see gasoline prices go up this week. in fact, if they haven't gone up in your neighborhood, go to the gas station, fill up, because they are going to go higher. what we are seeing on the futures prices really reflects what we are going to see. on top of that, we are going to the summer team bletime blends gasoline and those supplies are really tight. now this is going to add to that, it's going to push prices up very quickly. liz: this is a somewhat easy one, maybe, tim anderson, for investors. buy into energy shares, right? >> energy is certainly outperforming today and has had a nice move this year, as a lot of stocks have. i think this just adds another variable into the equation where investors have been rotating through different sectors over the last two weeks as we have gotten within 1.5% or less of all-time highs on major
averages. liz: i don't want to ignore what's going on in the earnings world, chris robinson. we are getting a huge number of s&p 500 companies reporting in the sort of reveal, how they did. is there any particular sector that speaks volumes about how stocks might trade for the current quarter? >> i think i would watch the fang stocks. there's so much overweight in those stocks right there, especially with the s&p. i think that that's going to be something to watch. in the 20 weeks since we started the year, the market's up 26%. so it's very, very -- it's come very far. now like the other gentleman was saying, people may be looking to try and get in, get back in, if they miss this rally. if we start to see a spike up in oil, that may be one more reason people step in and try to get long up here. should be an interesting rest of the quarter. liz: all right. between now and then, everybody go fill up your gasoline tanks. phil, tim, chris, great to see
all of you. by the way, put down the kleenex. this story is nothing to sneeze at. with the closing bell ringing in 47 minutes, kimberly-clark charging to the top tier of the s&p 500 in this final hour after beating earnings estimates. even though the company's sales volume slipped. why is the stock touching a new 52-week high at $130.80? it's up nearly 6%. pricing power. higher sales prices offset bad news. up next, the long-time guru of google says all this bellyaching about invasion of privacy is merely a perception problem. up next, we ask the new global voice of the tech sector whether eric schmidt hit it right on the nose or is missing the real mark. the new ceo of the information technology industry council when "countdown" returns. makes it beautiful.
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eye on the numbers. the other's going to be scrutinizing what capitol hill plans to do about privacy complaints. one of silicon valley's biggest bosses has come out to muse whether everyone's complaints about privacy violations are simply driven by the media. former google executive and ceo eric schmidt telling yahoo! finance he believes america's current sense of dissatisfaction with the tech industry is actually a quote, perception that the press has, adding that based on studies, people really like tech products and are using them more and more. guess you can't have both privacy and using them more and more. either way, here comes congress. can congress solve the privacy problem while leaving the good parts of tech intact? joining us now in his first interview since becoming ceo of the information tech industry council, jason oxman first on fox business. good to have you. congratulations. >> thanks, liz. great to be here with you. liz: that was the nice part of liz. now comes the mean kitty liz.
blaming the press, really? that is so old and so unoriginal. we aren't the ones who are complaining that google and facebook revealed certain private things. you know, do you agree with eric schmidt that this is a perception problem that the press has pushed? >> i think there is some truth to the idea that there's a tech lash as we like to call it, out there. but there also is some legitimacy to concerns that consumers have about protecting their privacy, for example. you mentioned congress paying particularly close attention here and we know that federal privacy legislation's going to happen. in fact, the tech industry supports it. so i think there's a balance between those two. liz: okay. in what form do you support it? >> we want federal privacy legislation. we want congress to act. we want congress to act as -- liz: guidelines? >> we think it should be enforceable. we are seeing a lot of states step in in the void and adopt state by state legislation. that's not helpful to the industry. we want to see a national standard imposed by congress. we are in support of it. liz: that's what the europeans did. they did the general data
protection regulation plan. >> that's right. liz: and everybody had to comply. >> that's right. liz: so why do we see u.s. companies pushing back and saying no, no, we don't want to do that, and all that was was giving the user total power over his or her data? >> that's right. gdpr is something actually as an industry we support as well. the most important thing it did was take 28 separate national privacy regimes in europe and unified them so the tech industry could offer a single product or service across the entire continent without trying to figure out how to get data to follow different rules when it hits national borders. if we did the same thing here in the u.s., instead of having 50 separate regimes across the country, if consumers knew that their privacy would be protected pursuant to one federal regime, i think that would be ideal and the tech industry supports that. liz: okay. but now you've got congress and members of congress all over the map. they can rarely agree on anything across the aisle, but they are agreeing on kind of bearing down if not beating up on tech. you just had senator ted cruz
saying that facebook and google have an anti-conservative bias. on the other side, senator warren saying these guys should be broken up, those two. and then recently, actually not as recently as those complaints, but you had senator jason holly, a republican of missouri, along with senator richard blumenthal, a democrat from connecticut, both outraged that facebook had allegedly paid teenagers to convince them to add a vpn that would allow facebook to wiretap these kids essentially and find out everything they were doing on their phones. that's not the press getting upset. that's parents infuriated and now, you know, you've got to look and say hm, got to bring in the heavy hand of government. can government do both? >> this is a good opportunity for government to step in. of course, we have a great tradition in this country of the marketplace innovation driving benefits for consumers and businesses. liz: tech has. we thank technology for that.
that doesn't mean they get to steal or misuse our data. >> so one thing government does have a proper role of stepping in and handling is when consumers are concerned about their privacy being protected. as you noted, we have bipartisan agreement in congress that something needs to be done. liz: that's a dangerous thing for you guys. >> actually, i think in this case it's a good thing. as the tech industry and as iti, we support congress moving forward for all of the reasons you discussed. consumers are concerned, we need to make sure congress can really step in and help restore consumer trust and the technology industry is a force for good. i think we are kind of getting away from that. that's what eric schmidt was really alluded to, the idea that we don't think of the innovation industry as beneficial anymore. it is beneficial. it's enormously important to the u.s. economy. our crown jewel technology companies do a lot for businesses and consumers and we need to restore that trust. liz: i agree. as james madison said when he wrote the federalist papers, federalist 51, i was reading it this weekend, if men were angels
there would be no need for government. you start acting devilish, here comes the government. good to see you. >> thank you for having me. liz: they did surgery on a grape to make a multi-billion dollar point. with the closing bell ringing in 36 minutes, intuitive surgical may have peeled the skin off the grape perfectly but it missed first quarter earnings estimates. revenue was light for the makers of the davinci robotic system. the myths prompting raymond james to cut their price target. $575 from $610. but the stock's below that, $491. got a ways to go. biggest laggard on the s&p 500, down about 7%. up next, to only one of the 2020 potential presidential contenders says he would be willing to touch the third rail of american politics, and former starbucks chairman howard schultz said he said it right here on the claman "countdown." he hasn't officially announced
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liz: look at entitlements, touch social security, touch medicare, would you? >> instead of cutting it, i would have a means test on it. because the wealthy need to pay more in taxes. the corporate tax rate needs to go up with an incentive to get it lower, if do you the right thing for your employees, wealthy people should not have access to social security -- liz: can you define wealthy? >> we can means test what that means. i'm not here to say exactly -- liz: one million, ten million? >> at least a million. liz: howard schultz on this show saying it's time to, yes, go ahead and touch the so-called
third rail of politics, entitlements like social security and medicare, because those trains will soon derail. a new report out today from the social security and medicare board of trustees now predicts the social security trust fund will run dry of all cash by 2035, a mere 16 years from now. the cost of social security calculated at 4.9% of gdp in 2018. the board predicting that will grow to 5.9% of gdp by 2039. edward lawrence has been poring through the report that just came out at the white house. edward, this headline is ugly. does the rest get uglier or any better here? reporter: yeah, you know, here's the report you are referring to. it's actually not that thick but some of the numbers are really scary. if you look at them, the cash flow, the amount of costs they are spending out of social security will exceed the income starting next year for the first time since 1982. therefore, that's why as you say, it will run out of money by the year 2035.
if you break that down, there's two funds underneath that. the disability fund under that actually runs out of money in 2052. that was moved to 20 years back from the projections from last year. that's because you have fewer people applying for disability and fewer disabled workers here. the old age and survivors insurance, though, runs out of money in 2034. starting in 2035, social security would pay only 75% of the benefits in that. the people who are watching this say it has to change. >> you take social security, there's 25% of the federal budget and it's growing faster than the gdp. you add in medicare and medicaid, now you're up to about 55%, 55% of the entire federal budget. reporter: now, on medicare, it's broken into two parts here. one of the funds, the hospital insurance trust fund, will run out of money in 2026. that's just seven years from right now. the expenditures have started already to exceed the incomes.
last year it was $1.6 billion of that deficit. that's weighing on the costs there. the supplemental medical insurance trust fund will not have spending gaps because the current law says that any gap needs to be covered by the general fund budget. what that does is puts pressure on taxpayers because that income, the amount of money there, is going to keep increasing as costs keep increasing. in fact, part d and part b have been growing over the past five years. the expenditures have been growing 6%. that's compared to 4%, 4.1% for the gdp in that same time period there. treasury secretary mnuchin releasing a statement about all of this, saying quote, we remain committed to further bolstering the program's finances which will benefit from long-term growth. we will see as a result of the administration's economic policies. the board of trustees in this report saying something has to change and has to change now. back to you. liz: they say that every year, but it really, it does have to change and maybe means testing, although i'm not sure when
howard schultz says a million is considered wealthy but means testing. edward, i know you have heard him say this before, but one of the founders of, you know, home depot has often said take my social security away. i'm a billionaire. i don't need it. reporter: you know, one of the things in this report which is interesting, sort of alludes to that. fix it now, the board of trustees is saying, as you have options available. as you can make some of these decisions as to who pays, who doesn't pay, rather than coming right up to the deadline where you probably have to tax everybody. liz: edward lawrence, thank you very much. it's the shot heard round the world's garages. with the closing bell ringing in 27 minutes, the dow still down about 53, s&p, we are right where we started about 33 minutes ago. a tesla model s sitting in a parking garage in shanghai on your left, it starts to smoke. we are going to freeze it right there. wait until you see what happens next. we will show you after the break.
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liz: wow. breaking news that tesla's self-driving event actually has already begun and news out of the event is just now hitting the wires. i want to get a couple of pieces here for you. in the wake of the battle tesla has had with its lithium battery partner, panasonic, elon musk just announced its new partner for the chips at the heart of tesla's self-driving initiative will be made by samsung. and i am just seeing this as well. tesla and its ceo elon musk are
slamming what is called a lidar sensor. that's what waymo uses for its self-driving vehicles. elon is saying that those sensors are quote, fool's errand and any company relying on that is doomed when it comes to self-driving. in typical fashion, elon musk coming out swinging at his investor day event focusing on full self-driving. i'm looking at the stock. it's still down about 3.33% but let us now get back to the rest of that tesla tape we froze for you going into the commercial break. here it is. this is out of china. smoke begins to pour from underneath and then boom, under that model s, tesla spontaneously combusted, engulfing the car in flames. this reportedly happened at a garage in shanghai. the video caught by security cameras sunday night went viral. tesla is saying that it sent a
team to shanghai last night to investigate. the car was parked so there were no reported injuries, thankfully, but could elon musk's big investor autonomy day when the company shows off its road map to self-driving technology be a big casualty here? because it's the 14th tesla to catch fire since 2013. to our tesla panel. david kennedy, former nsa hacker and tesla owner, and let me first, if i could, derek, get to you on the news that's breaking. let's hold off on the fire for the moment. very interested to know what you make of this samsung will be the new chip partner and of course, he's taking a swipe at the sensors which certainly other autonomous vehicle companies are using, particularly waymo. >> sure. it makes sense samsung is going to be tesla's new fabrication partner for their chips. they are one of the largest silicon manufacturers in the world.
they actually were responsible for a long time for making all the chips that went into apple's iphone. they have a lot of expertise in taking other people's designs and putting them to silicon. it makes sense to go with samsung and they will be making them in texas so it will be another part of american ev being made in america. as for lidar, there are competing schools of thought. it does have some advantages in being able to image the space in 3d but it also can have some detractions in the form of confused by snow and rain and google using their system in waymo had to build a very complicated ai system to even deal with rain or as tesla, just goes with radar and cameras. it's a choice of one or the other. typical elon musk uses a lot of hyperbole to justify. liz: sure, exactly. let me get to david. david, not only are you a tesla owner, but you are also a real
expert white hat hacker and you've got to really explain to us how you see the self-driving issue coming through, because it can be hacked, can it not, and what have you seen or heard about tesla's plan and by the way, tesla's is not fully self-driving. it's sort of level 2 versus level 4, where you don't need anybody in the driver's seat, certainly. give us a sense of the security of what tesla is unveiling. >> i think that's one of our major concerns when it comes to autonomous driving. if you look at what cars have traditionally been, they have been black boxes. underneath the car, it's called a car area network that sends data back and forth. we are now shipping all of that back to tesla's infrastructure and all the car manufacturers are starting to do this, bring a lot of data back in and analyzing that. if you hear tesla's thing today, it was really focused around how much data they actually send back to their neural network to be able to process and identify anomalies and things like that. these cars are no longer these black boxes.
that means the interconnectivity, you have the ability to hack into multiple points, whether it's the car, whether it's the servers that are running the infrastructure to collect that data or the updates that are being pushed out, over the air updates tesla leverages. it's definitely a major concern. one thing i can say, tesla is really far ahead of the game when it comes to being able to send and secure their cars after certain security defects have been identified. there was a security researcher that published an attack against a tesla car and the very next day, tesla pushed an update out. they are usually pretty quick to respond to these threats but it doesn't get to the larger picture of how much data we are sending back to tesla's infrastructure and what autonomous vehicles actually need. liz: concurrently, you have the fire situation that happened in shanghai. people, to be fair, make a huge deal of 14 spontaneous car combustion situations. yes, it is stunning and frightening to see, but with old school, you know, internal combustion engines catching
fire, 168,000 car fires in 2017 alone of just regular cars. let's not get hysterical here. no one is posting those on youtube. my question to you is, does it overshadow the appeal on tesla's big day? >> it is definitely going to overshadow because tesla's investor event today is very detailed and technical focused, at least so far. they have been talking about chips and neural networks and a lot of high level stuff that's going to lay the groundwork for how the full self-driving system is going to work in the future, whereas a car bursting into flames is very viral, it's shareable, and it's ricocheting around the world while tesla is trying to say here's what our cars will do in the future. so it is sort of a p.r. black eye and very poor timing for tesla. but that's just one of the things you've got to deal with. liz: as we finish up here, you love your tesla, correct? >> i do. actually, tesla is the best car i owned.
it's like the iphone of cars. you get updates for it and everything else. they are continuously migrating. if you look at their past, they already had hardware 2.5, and a year and a half ago their new hardware was coming out. a lot of updates come through and car manufacturers can move quickly. security can move that fast as well. liz: david, derek, thank you so much. we are coming right back. tesla still down about 3%. i wanna keep doing what i love, that's the retirement plan.
manufacturer set to report first quarter earnings after the bell. uh-oh. according the a new report, tariffs raise the prices of all washing machines including those on whirlpool by about 12%. the tariffs on imported washing machines ended up costing the u.s. consumer some $1.5 billion a year. let's get to susan li live on the floor of the new york stock exchange. can't wait to see this one. susan: i'm sure you can't, liz. yes, don't forget, january 2018, president trump lef vied tariff 50% on subsequent units. a domestic player like whirlpool did benefit a bit, we saw 52-week high just last year in its stock price. guess what, the tariffs may have helped but also, don't forget the aluminum and steel prices went up and that hurt whirlpool as well. in just a few minutes after the bell, we are expecting some
results. what about competitors like samsung and lg? you caught up with lg's president at the consumer electronics show in las vegas. he said because of the tariffs, we have to build in the u.s. in fact, samsung and lg are looking to boost u.s. production, hiring around 1600, whirlpool looking to add 200 more staff. but whirlpool, yes, it had a great year so far this year but are still 16% below their 52-week high that was just last year. it remains to be seen whether or not we will see better profit, better earnings, especially when you pay more in aluminum and steel. back to you. liz: again, be careful what you wish for. the unintended consequences. we'll see what happens. susan, thank you very much. susan li. we now have the closing bell about nine minutes away. it's a sword fight between tariffs and home sales, but our "countdown" closer has one company he says will come out the victor.
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liz, we have breaking news. we just got the shot up outside of the federal court in san francisco where elizabeth holmes, the disgraced founder of theranos the blood testing company is expected to arrive in just a few minutes. we'll keep the shot up here in just a few moments. there is high interest in this. elizabeth hopes founded the company, she is stanford dropout. got a lot of wealthy people on board to invest hundreds and hundreds of millions of dollars what she said would be the revolutionary way to test for hundreds of diseases with just one single drop of blood. you had some people, i.e., doctors, at least one stanford professor, only one stanford professor questioning this, while everybody else said it was going to work.
people who questioned it cannot be done, sheer basic physics. she is facing prison time. she was known for black turtlenecks, blue eyes, blonde hair, and people got misguided for that. she got charged with fraud for taking money that never really did work. when she arrives we'll have shots on fox business. we will keep you posted on that. guys, do me a favor, let me know if that happens she arise. got punch to the house being market. new report from the national association of realtors. existing home sales plummeted 4.9% in march. worse than the expected 3.8% drop. combine that news with the tariff war and, a lot of people
might be concerned cost of steel, cost of aluminum, we were talking about that, problematic housing numbers, but today's "countdown" closer says today there is a stock that you should add to your portfolio, because it will benefit for both. eric marshall, what is the stock, eric? >> the housing, one that we like right now is eagle materials. we think should benefit from a housing cycle and that is one that we like at the hodges funds. liz: you know, i asked that, because you know, you've also got a commercial metals name that you feel could really play in here. but, it might be caught as we were saying earlier, in the middle of a sword fight between high metal tariffs and of course
a problematic housing market. they make things like gutters, et cetera. why would you pick this particular name? >> commercial metals is also the largest rebar manufacturer. they go into anything that uses cement. not only argues home building but also in public works, road building, we see a relatively robust environment for that right now, they're a little less sensitive than steel companies are, like automobiles and flat rolled steel. liz: i see. they're all down today. we don't care about single day move of a stock. right now if you stretch it out where do you predict the stock going? you're going out on a limb. you're saying it is a great name. we're not buying it at highs. i don't like when people say come on, buy it now, it had great momentum movement. great i missed it. you're saying it has a chance to
turn around here? >> in the case of commercial metals they did a transformation. so we see this stock having over two dollars of earnings power and we think they kind of got swept up with what is going on with a lot of global trade, a lot of uncertainty surrounding the really big steel companies. this is one we think is very well-positioned to benefit from a recovery in infrastructure spending here in the u.s. liz: eric, we have a couple seconds left here, where do you feel most comfortable about putting your sort of pointer on when it comes to how the markets will do in the coming next couple months? >> you know right now, we just started the first-quarter earnings season. everybody was really worried and concerned about an earnings recession at the beginning of
this year. knew seeing first-quarter earnings come out. earnings held up relatively well albeit not at growth rates we saw last year. we think as long as earnings hold up, stocks look very attractive at these levels. liz: eric marshall. thank you very much. dow can't make a go of it. we have green on the screen for s&p and nasdaq. ashley: potentially impacting gas prices. you may have to pay a lot more to travel as the trump administration takes aim at iranian oil. the dow ending down 46 points. been in the range pretty much. we were down 100 points as we opened the session. s&p 500, nasdaq both ending in the green though. something to cheer about. hello, everyone, i'm ashley webster in for connell mcshane. melissa: you're not connell mcshane. connell: no, i'm not. melissa: i'm melissa francis. this is "after the bell." we have more on big market movers. first, here is what is new at this hour.