tv Countdown to the Closing Bell With Liz Claman FOX Business June 10, 2019 3:00pm-4:00pm EDT
manhattan. the ensuing fire is out, and crews are trying to control some leaking fuel that's coming from the chopper itself. no word on if anybody else is hurt. dow jones industrial average up 148 points. liz claman, over to you. liz: in fact, charles, we just want to give our viewers a sense of where this is. it is just one block north of fox business' headquarters. this helicopter that charles just told you about crashed into the top of the axa insurance building. and what you see there is the smog and the fog. so you've got big fog and then the smoke coming, because a fuel leak from that helicopter ignited and caught fire. that fire now out, but this is a skyscraper in midtown manhattan. 787 seventh avenue. that's in the heart of new york city's midtown business district, literally a block or two north of what a lot of you know, and that is times square. during the ball drop and all of that. so it's right in a very congested area.
and we can -- sixth avenue, emergency crews clogging the entire sixth avenue. the building would then be to left or west. now, we have banks such as morgan stanley, barclays, bnp paribas, and, again, this is the axa building, so here's what we know. this was a private helicopter, not a service or commuter chopper. the pilot has been killed. they're still trying to figure out exactly who owns that chopper. we do have jackie deangelis who ran right to scene from fox business. she is with us now, and what more can you tell us? >> reporter: good afternoon, liz. as you can see, we are a block south of where the helicopter crash occurred, 787 seventh avenue, it's about 51st street and seventh avenue. it was an emergency landing, as you mentioned, on the top of that building. one fatality, a fire started,
and now fdny trying to contain the potential for fuel leakage maybe causing, you know, further damage. that's really what the concern is. as you said, this is a couple of blocks north of times square, a very, very congested neighborhood in manhattan. the streets are blocked off. i'm just going to step aside so that you can see the fdny presence here, the fire trucks and the nypd as well. they are on the scene trying to garner as much information as possible and deal with an emergency of this magnitude happening in midtown at the moment. we do have a tweet from president trump on this. he said that he's been briefed on the helicopter crash in new york city. phenomenal job by our great first responder ors who are currently on the scene. thank you for all you do 24/7/365. the trump administration stands ready should you need anything at all. so right now on the ground here a lot of bystanders and a lot of congestion just because of the attraction that's being drawn
here. but at the moment, like i said, trying to contain the fuel leakage and any other potential disasters from here. liz, one fatality on this being as we know so far. liz: jackie, thank you very much. we do want to reminded our people, and we can keep maybe that sixth avenue shot up or maybe the seventh a avenue that it is today, monday. a lot of these theaters in times square and on broadway are dark today meaning -- i'm sorry. yes, dark on mondays. so that's good news. you can see beetlejuice is the headliner at the winter garden theater, and that's a big theater, one of the bigger ones on broadway. i suppose if there's any good news when it comes to the congestion in the area, people will not be coming to broadway shows tonight as that is the night these shows are dark. we'll keep you posted on any developments we get on this. again, the pilot killed as it crashed into a manhattan building that is the home of the axa insurance company. we understand it's also owned by a company called commonwealth,
co-owned, commonwealth partners and calpers. the whole building, by the way, is sack waited at the -- evacuated at the moment. we were hearing reports from people inside the building who said not but a minute or two after the building shook, the evacuation order came, and it was orderly, and that is certainly good news. we'll keep you posted on any developments. a hard turn here, but i'm going to try and do it here. stocks were already well off their highs and trending lower before that crash, and the headlines crossed, but we still have a gain here at the moment. the horses that pulled stocks into the best week, it would be the best five days of 2019, last week, continuing down the weekend track. really hitting their way and galloping and finding their movement here. the dow is on pace for the longest win streak in 13 months. we've got a gain of 146 points here. united technologies, this is a
very big story that broke today, and raytheon trading in mixed picture here. we do have united technologies down 2.5, raytheon up 1.33. both have agreed to an all-stock deal to merge. it does not contain any takeover premium, hence, no really huge moves in either stock involved in this deal which is expected to close next year. what would it do? it would create the aerospace giant with a defense component now. the defense part coming from raytheon which is a missiles and aerospace company and it'll be called raytheon technologies. you've got to understand united technologies, uts, boy, that is an old school name. yes, they own otis elevator, hairier air-conditioning business. we'll have much more on the
story including the hurdles that do face this deal straight ahead. even though it seems there isn't much crossover. we've got united technologies doing all kinds of other businesses, and raytheon is that defense piece of it. we've got a tale of two food stories, beyond meat. today that brings its two-day share rise to 69%, not a bad move. the plant-based meat company now trading at nearly seven times what it ipo'd at. it just debuted in the early may. right now it's $168.76. not a bad move. there was a positive report on it but some people are a little worried that beyond meat is getting slightly frothy at this price level. kraft hines, completely different business, after the company finally filed the annual report submitted to the securities and exchange commission detailing a public firm's financial performance.
now, kraft heinz says it expects to report by the end of next month, but there was a very big investigation. they put it together within the company because there were some questions about whether the financials were holding up from a year or two back. so at the moment we're looking at kraft heinz saying that it overturned nothing. nothing really insidious or worrisome in that investigation, so up 5%. all right, usually when markets come off their best week in a year, you would expect some profit taking, right? red on the screen? we have the complete opposite in this final hour of trade. last week the dow, the s&p 500 soared more than four full percentage points while the nasdaq was not far behind, jumping nearly 4 president. all three enjoying their best week of 2019. ah, but there's always a but. this one comes from the cofounder of data tech research whoing observes that, quote,
happy markets don't surge 2% in a day. worried markets do. so it's yet another session about to close out in the green, is this market really a worried market, or are we seeing happy markets? to our floor show traders. scott, to you first. you know, this researcher is saying last week's market was actually more manic worry, and that's what drove it. what do you see, happy or worried market right now? >> i see an erratic market, but i know what he's saying. last week everyone was taking risk off, you had fear and acceleration to downside, then all of a sudden they talked about three rate cuts. usually when you're up over 2% or so, it's shorts covering, so that's what he's getting into. but then what happened is maybe on friday everyone's looking to take a rest, and then you had the mexico news where u.s. won't impose tariffs, and now we're up another, you know, few hundred points. i think traders are a little offside, and at this point it's like a little rest here.
we don't want to develop a pain trade where you go too far the, too fast where no one's involved except for passive funds which sometimes it's good to be a long-term investor. liz: you just articulated that really well, and it sounds like you agree with the analyst. alan knuckman, what about you? if do you think these are happy and comfortable markets or is it more a little bit of panicking or let's call it a sort of worry trade? >> well, markets aren't happy or sad. the investors behind the trades are the ones that enjoy the profits or the losses. so for me, it's optimism wins. we're still in a bull market. the s&p's only 2% from its all-time forever top with all these things that have happened so far in 2019. and if you look at the tech market, we're up almost 30% off the lows from december, and we still have a lot more upside. this is the fifth time we've seen tech turn down 10%, and every other time it's rallied and made new all-time highs. i still think there's more left
to market, and a lot of this was self-inflicted pain, and now we've seen that it can be easily solved and declare victory, and we move on from here. liz: and it sounds easy, but sometimes it's not. we'll be watching it. guys, thank you so much, scott and alan. by the way, folks, we are just minutes away from the trump administration's first public explanation of the deal it made with mexico to avoid raising tariffs on our nation's third biggest partner. now, our third biggest trading partner was about to have 5% tariffs slapped on it today, but in the 11th hour -- maybe it was more like the 9th hour -- we got a deal. we're awaiting secretary of state mike pompeo who will deliver the details from foggy bottom, as it's known. we will take you there live as it happens. in the meantime, fast food caught in a game of chicken. with the closing bell ringing in 50 minutes and the dow up 145, mcdonald's getting a little bit overcooked here, burned on the dow 30 heat map after a
warning from bank of america/merrill lynch. and, of course, they say the burger giant and its competitors need to watch with out for chick-fil-a. chick-fil-a, whose rising sales and growth could begin eating away at casual dining's biggest names. sooner than anyone thinks. so mcdonald's is down about $4 right now. and the rare earth threat. rare earths are in your car, they're in your phone, in your washing machine. and now china is threatening to close up its rare earth treasure chest, lock it and maybe throw away the key. coming up, we've got the man behind what could be the' answer to china's shot across the bow. the top guy of the one and only rare earth mine in the united states is here. np materials co-chair james latinsky is joining me in a fox
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china has pretty much cornered the market, and we just got news that exports of these elements plunged 16% last month. while analysts say some fluctuation in imports and exports is the norm, this time it's putting america on high alert because the drop comes amid the pushed trade battle between the u.s. and china. now, last month after the u.s. blacklisted products from china's tech giant huawei, china in turn threatened to stop the flow of 17 rare earth elements. now, these things are used in everything from electric vehicle car batteries to f-35 fighter jets to iphones. we import 80% of our rare earths from china, and therein lies the issue. the u.s. has only one, count it, one rare earth mine in mountain pass, california. we've been telling you about this. here are the pictures. it produces the elements ndpr. those two elements, here's why they're so important, they make
lightweight magnets that power electric cars, drones, wind turbines, anything that requires motion cannot do without these particular rare earth elements. if china cuts the u.s. off, the ramifications could be extraordinarily serious n. fox business exclusive, look who's here, the co-chairman of the company, james litinsky of np materials, the parent company. i would think a lot of people are trying to make very good friends with you right now. >> sure. [laughter] it's definitely been an interesting couple months. liz: yeah. every electronics company, tesla -- >> yes. liz: -- lockheed martin, they need rare earths, isn't that correct? >> yes. it's actually, at the end of the day, the geopolitics, this has all certainly been in some ways a stroke of luck for us, but the reality is it highlights a single point of failure in the supply chain. and it doesn't matter if it's the u.k. or bra, we rely -- or brazil, we rely on a chinese
source for pretty much, close to 90% of these elements which are powering all the growth technologies of the future. liz: that's not even the only aspect of it, because what you mine at your mine -- am i correct on this? -- is only, as i understand it, semiprocessed. you then have to send it to china to be refined? >> yes, that's right. currently. liz: china has the only business, they've got the only refining business? >> yes. actually, we do have a refining facility on site, and by next year we will be making fully separated rare earths. we've billion doing a ramp, as you know, we closed on the facility less than two years ago. at the time we had eight people, it was sitting idle. my, the group that i lead -- liz: how does that happen? >> it was, we can -- it's a long story, but essentially it amounts to the fact that stringent environmental controls coupled with the fact that the chinese have subsidized their industry and created a negative cost of capital for their producers essentially led the
u.s. industry to go bankrupt. finish that, downed with the -- coupled with the fact, and this is very important, the facility we now control, they spent over $1.7 billion making it a state of the art, environmentally-friendly facility. so so we now are ramping up what is the cleanest, green state of the art facility in the world, and we believe we will be the low cost producer next year. liz: it's dangerous though. there's radiation that can 'em significant from the -- emanate from the refining process. it's not just a bunch of hippies demanding this, you don't want stuff seeping into the water table, etc. that's why we let china do all of that because they do not care if they poison their people. >> well, yes and no. they have different environmental controls than we have. liz: more lax. i'll say it. >> yes -- [laughter] i need to be a touch more diplomatic because, ultimately, china will probably end up being our -- but, wait, let me make an
important point. our facility was built in 2010 in the state of california. you can imagine what that took to get done. and we have a dry tailings process which means we don't have -- we also have the good fortune of having a green body which means we don't have the radioactive development to the degree that the chinese or other producers in the world do. so we are blessed with the best in the world. liz: yeah, i would think. however, i need to push you on this because the trump administration had minute knocking on their door -- had somebody knocking on their door in 2017 saying this mine should be nationalized. we should yank it away from you guys and nationalize it, take it in eminent domain because it is a national treasure in many ways, and it does -- especially considering i don't know if our viewers know this, and "60 minutes" pointed out last night, huge story, 920 pounds of rare earth elements in an f-35 jet. so there's a defense component here.
and they say that, oh, you guys are conflicted. you have friends in the chinese government, take this mine away from you. how will you handle that, battle it if it comes to at least a possibility? >> well, i mean, i have so many thoughts there i appreciate the fact that they believe we have a national asset, is and we believe that. we have 200 americans going to work every single day. these are american manufacturing jobs, and every day they're going to work to make this facility the lowest cost producer in the world. and so we are actually already doing the hard work. we've, you know, had remarkable turn around with this asset. there are a lot of great national assets that have partial ownership by people in the marketplace, whether public or private, that some of us might not like, but that's just not american industry. liz: well, what if the president -- >> ultimately, the job we signed up to do was to return the rare earth industry to the united states of america. that's the job i undertook with
the team out there two years ago. we starlet thed with eight people, we have -- started with eight people, we have 200 people, and at the end of the day, let's see the results down the road. why wouldn't we get the assistance of a chinese technical partner when they are the best operators in the world? liz: okay, i get that -- >> so we're getting advice, but we've got 200 americans working at that facility. liz: the government could grab it from you. how hard will you fight to keep it private? >> i really don't think it's a realistic consideration, because by the time that happens -- we're already profitable, why wouldn't they just sign at contract like they do with lockheed martin ifen, boeing or anybody? we're ready to provide the product if, we upside took this endeavor less than two years ago. certainly, many people have doubted us. the prior owners couldn't get this thing to work right, but we're dramatically outproducing what they did. we put our heads down, and we've just started to deliver, and i think you'll see great things out of us. and, you know, certainly there'll be a lot of people who
have interest in pork barrel projects or other projects that will certainly make a lot of noise in the media about our asset, but we have a lot of discussions with the government, and they are very much encouraging us, and we expect them to continue to encourage us, and we will get this job done for america. and that's, you know, ultimately, our responsibility. liz: james, i'm of the belief that private people can run a business better than the government, so we'll be watching this one. james litinsky is, of course, the chairman of the company that owns that one rare earth mine. we are coming right back, we are awaiting mike pompeo to discuss the mexico trade deal. ♪ ♪ this is the couple who wanted to get away
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administration's first public explanation of the deal struck with mexico to avoid raising tariffs that were do kick in today. 5% every month up until 25%, but that isn't happening. that is off the table now because, apparently, there was a deal struck. there are some real questions about the details of that deal. as soon as this begins, we will take it. in the meantime, let's get to charlie gasparino because we've got, after three weeks, chairman ajit pai endorsing the t-mobile/sprint deal. you said two weeks ago it would happen. >> it's going to happen at some point, and what what now we are hearing, this is game time. here's how we know they're reaching a final conclusion, sources are telling the fox business network that the head of the antitrust division met privately with ajit pai. remember, he approved it. it's a party-line vote, all republicans are going to approve this deal.
the staff is pushing back, it's his decision, but we do know that they met friday to discuss the merger privately. we don't know all the details other than they're discussing the merger, but here's what we know, and a lot of stuff is happening in washington today. apparently john ledger, we're going to get some pushback on this, watch, and the sprint ceo -- [laughter] how do you say? >> they met, attended a meeting with the doj staffers today. so what we're hearing is that the deal is progressing in the sense that the approval from the doj is progressing, and we're hearing it's imminent. it could mean tomorrow, next week. liz: no, to me, imminent means right, like, soon. >> regulatory time is a little different than liz claman time. so we do know the doj is seeking
further concessions on the deal. we should point out that donald trump wants this deal to go through. how do we know that? he made a public comment to jerks over there on the other side of the river -- [laughter] where he said he like it is deal in terms of the advancement of 5g which, basically, has been the arming of companies. you approve this deal, we'll be able to advance 5g -- liz: because we are behind pa -- huawei. >> they're an equipment manufacturer. these are not equipment manufacturers, these are carriers, right? but they think they can develop the technology to carry 5g better if they're together. they're also saying another argument i hear that is having resonance with the doj, sprint probably cannot survive alone as an entity. it's got financial issues, it does have spectrum, which, you know, it's going to use with t-mobile to compete against the bigger players, verizon and at&t.
that's how they're pushing this merger forward: again, staffers at doj are pushing back. they think when you go from four to three carriers, that's an antitrust issues. but, you know, listen, i don't know how you bet this. we do know that the companies are meeting today. mr. ledger and mr. clar meeting today with the doj. we do know that delharin and ajit pai who supports the deal met privately friday to discuss the merger. i didn't see them -- from what i understand, they weren't screaming at each other at the lunch place they were at. so maybe there's some meeting of the minds here. but this is heating up. decision is coming down the pike. can't tell you exactly when, but it's all over the place. could be this week, could be tomorrow, could be next week, we don't know, but it's coming down. by the way, that's you and
mr. ledger. liz: yes, in the times square. if you're just tuning in, some of you specifically tune in just to see sharly gasparino, you're probably wondering about the shot -- take charlie, please. >> could we just see -- liz: just a minute. there's a lot of police and firefighter activity. if we can dissolve to our sixth avenue shot, this is, of course, in the wake of a helicopter crash onto the top of the axa building where the pilot of a helicopter -- and we don't know who owns that chopper -- died after hard landing on the roof and a subsequent fire from the fuel leak out of the -- >> apparently, he was the only one in the chopper. liz: right. we just wanted to let people know that, that it is under control. >> i know this is a bad transition, but i'd just like to see, if we can, do we have an intraday of sprint and t-mobile in. liz: we were showing it the whole time. there's a tiny move up off the floor. now it's a $7.01 stock, and that's significant, folks, because the annual low of this
stock is -- >> six something. liz: is it? >> it was something like that. if the deal goes through, it's probably an $8 stock. of. liz: yeah, six and change. actually, $5.12. >> oh, interesting. but if a deal goes through, i think it's close to 8, and that's under the deal terms. again, movement on this, lots of meetings -- liz: okay. all right. let's go to state department. mike pompeo, secretary of state, is now going to give a public statement about the
mexico/u.s. trade deal. >> a couple things this afternoon. first, i'll give some remarks lacer this week -- later this week, i'll be speaking to a group of indian business leaders in preparation for the trip that i'll take in a couple weeks where i'll be visiting india, an important part of president trump's strategy in the indo pacific, and i'm looking forward to opportunity to give remarks about how it is our relationship is so closely tied economically, but also importantly, the things that the united states and india
can continue to do to build out what is an incredibly important relationship for both countries. i thought, too, i'd spend just a minute talking about the agreement that was reached with the united states and mexico on friday of the week. frankly, it reflects diplomacy at its finest, shows the enduring strength of the relationship between our two countries, and it's a significant win for the american people. the deal continues the trump administration's commitment to strongest confrontation of the tide of illegal immigration along our southern border including the drug trafficking issues there. the president did precisely what he said he would do. we agreed to a number of things including the placement of 6,000 mexican national guard along the mexican southern border. it's the biggest effort to date that the mexicans -- something that we pressed for with them throughout the time of negotiations. we'll work closely with them to make sure that is a successful
effort. those crossing the u.s. southern border will be rapidly returned to mexico where they may await add adjudication of their asylum claims. we were able to do this to tune of a couple hundred people per day. we now have the capacity to do this full throttle and engage this in a way that'll make a fundamental difference for those trying to get into the united states. this full-blown effort under the migration protocols is a big deal, and it's something that we worked on very, very diligently are with our mexican counterparts over two deer days. -- two days. and we'll pursue other cooperative efforts. for much of last week, the secretary and his team were excellent partners, we worked with them alongside our team at the state department. for those who said they were nothing, i can tell you the team here at the state department believes this is an important set of agreements, important set of understandings, one that
we'll continue to work on because, in the end, will be measured by the outcomes that we deliver with respect to stemming the flow of illegal immigration into our country. i want to, on that note, repeat my personal gratitude to foreign secretary and his team. they worked hard, they were diligent, they defended the mexican people. i think we made both of our countries proud with this agreement. i spoke to president trump not too long ago about this, he is grateful to everyone who made this happen, and he had a chance to speak with president obrador about this as well. as i mentioned, this isn't the end of the road. we've got a lot of work to do to implement what we've agreed to not just in the joint declaration, but the approach to the region for central america that we agreed to last december. and we have confidence, as the president tweeted yesterday, that mexico will fulfill its shared commitment. we'll continue to work to discuss migration asylummic sures, and if necessary, we'll take additional measures that the mexican government ableed to during these conversations as well. i look forward to great
cooperation between our two countries, and with that, i'm happy to take a couple of questions. >> christina in. >> thank you. hi, mr. secretary. >> hi. >> can you explain what in this agreement was different between what was -- [inaudible] and has -- in addition, is there a separate agreement with the mexican government than what was announced friday that the president has suggested on twitter? both sides said if there's not enough progress, we're going to come back to table and evaluate that, what kind of metric are you going to use? is there a specific number or target you'd like to hit? >> sure. i was part of the conversations in december when the original protocols were put in place. the scale, the effort, the commitment here is very different from what we were able to achieve back in december. and, frankly, wouldn't have happened. the entire team from the mexican government that came up, they came up because the president had raised the specter of 5% tariffs on their products. it's what prompted this series of conversations that took on a
level of seriousness, and a timed commitment that we were committed to getting done before the weekend. and so it's a fundamentally different commitment about doing this across the entire border at scale. you see numbers in the several thousand per day, those are the folks that will now be subject to migrant protocols and will be, when appropriately adjudicated, returned to mexico to await their asylum inside of mexico. as for other agreements, there were a number of commitments made. i can't go into them in detail here, but each side was committed to a set of outcomes. the united states retained its ability to use etc. own determination -- its own determination of whether there was success along the border. you saw the announcement was the president would indefinitely suspend the tariffs. if we're not making sufficient progress, there's risk those tariffs will go back in place. as we had these conversations
with my counterpart, we both understood that. it means we've got hard work to do to deliver on those actual outcomes on the ground along our southern border. i know the mexican government's committed to it, and i know not only the state department, but dhs and all the others who have real responsibility that we'll deliver this. i'm confident this hard work -- we will go hand in hand to make this deliverable, something we can all say, yep, this resulted from what we did last week. >> and is this a metric you're going to use to judge that? >> we will evaluate this literally daily. >> [inaudible] >> good afternoon. what do you think about other countries such as brazil and panama helping with this? are you talking to them about perhaps backing up mexico in its efforts to stand by migration given that -- and, again, coming to my colleague's question, how much time are you prepared to give them to make sure it's
actually working? >> yeah. so i can't answer the second question. some amount of time. this won't be instantaneous, but the work has already begun. so i don't know, the agreement, we talked about 90 days. but i imagine that we'll know the effectiveness, the ability of us to work together to deliver this much more quickly than that. perhaps in 45 days we'll have a good sense of whether we're able to achieve these outcomes in the way we're hoping that we can. as for other countries, yes, we're going to work with the central american countries too. a good deal of the folks who are transiting into our country are coming through mexico and are not originally from mexico. we have high expectations they'll deliver as well. we have teams working there this week to get agreements with those countries to put the onus where it is for them to make sure their citizens are not the ones transiting through mexico into the united states. take one more. >> okay. [inaudible] >> just to follow up on that, in
the agreement it says the united states and mexico will lead in working with regional, international partners to build a more secure america, but there have been steps to cut aid to central america. so i'm wondering how that fits and whether you're committing resources, not just sort of negotiation to this. are you going to put money into it or expertise? >> yeah. i think you've conflated economic prosperity with u.s. dollars going down to those places. i don't think about them way remotely. they need to develop the rule of law, they need to grow their economy. the united states prepared to do the things we need to do, but we've made no incremental resource commitments associated with this deal. we didn't offer any resource assistance to mexican government to deliver these outcomes, we have not done so in central america -- where we find it in our interest to provide resources that make sense to protect the american people, we'll do that. but in the first instance nations have the respondent to
take care of these immigration problems in their home
country. thank you all. liz: secretary of state mike pompeo indicating there were many moving parts to this deal between mexico e and the u.s. that the ultimately led to trump administration dropping the tariff threat put into motion one week and a day ago via a tweet by the president. pompeo outlined some components of the deal including an escape hatch that allows the u.s. to fire back up the tariff threat on mexican imports into the u.s. if its government does not stop the flow of migrants across the southern border with the u.s. to edward lawrence outside the white house, this is an interesting deal here that allows both sides to sort of morph the deal in some way, shape or form. >> reporter: yeah. it's also interesting that pompeo was talking about the scale and commitment of this agreement, that makes it different than the december agreement here. the mexican secretary of foreign
affairs said two days of intense talks went into a agreement. he says the mexican government was always going to send 6,000 troops, it was just a matter of when they were going to do it, and he says the tariffs forceed them into a faster timetable. here's the foreign or secretary. >> translator: first, there are no tariffs today. there are no threats of tear writers in 90 days or 45 or in 30. second point, migration is separated from commerce. we moved each topic to its table. if both are joined, it is dangerous for us. >> reporter: for the administration, you know, the number of people showing up at our southern border will be the gauge for them as to whether this agreement is working, whether mexico's following through. there is that9 -- 90 day period where they're going to look to
see if this is working. they're trying to separate that agreement too. liz: i'm looking at a whole bunch of stocks that i would guess are doing pretty well. chipotle jumping about 1.3%. but you can really hear the collective sigh of relief in the auto industry. everything from cars to auto parts. perfect time thing here. let's go to our next guest, john boze will la is a global automaker, sew owe and president. and there is chipotle mexican grill, and here are the automakers. everybody from ford to gm, fiat christ -- fiat chrysler. we just heard the secretary of state outline some of the details, no tariffs for now. >> yeah. i'm very happy to hear that. i'm glad there aren't auto tariffs, because those are taxes on american consumers and businesses, and they don't
really have a control on this border outcome. so it's good to see we've put the tear refs behind us at least for now -- tariffs. liz: at least for now. does it bother you that it seems some of these threats become rather cra pushes? you know, unminute everything seems nine, the next, let's put it in. either way, your assessment on whether you feel the trump administration was able to extract something valuable here. >> yeah. you know, that's really for others to really determine. i just have been concerned for some time about the uncertainty that really translates through the auto sector with the threat of tariffs. the mexico tariffs, the auto tariffs that have been recently proposed but held back. the uncertainty leads to less investment in the ec or sector when we want more investment in the ec sector. i think we share that goal. >> you used to work for ford
and, i believe, also daimler, correct? >> correct. >> president trump, in between the time that he tweeted out a week ago sunday we're going to slap these 5% tariffs on mexico, they've got to do something to stop the flow of my grant across the border, it's hitting record highs, you know, certainly we can understand that. but then he says don't worry. if we puerto the tariffs in, you'll see a lot of companies down south move to u.s.. is he right on that? >> yeah, you know, this is a long lead time industry. it makes years to execute decisions like the location of an engine plant or the location of a manufacturing or an assembly plant. so, you know, it's really hard for companies to be able to move out of the way of these pipes of tariff announcements. really what we want and what we've enjoyed the benefit of is the supply chains that move
vehicles back and forth across the border. this has led to more investment in the united states and more vehicle production. that's a win/win for consumers and american workers. liz: last week a letter was sent sign by 17 or so different automakers to administration. and this i found really interesting, because i'm from california, and i watched as very tight emission standards the eliminated so much of the fog that i grew up with in the '70s. you asked the administration to put the brake if on its force to roll back fuel economy standards. you know, i'm sure that the president thought he was doing automakers a favor by saying, you know what? we're going to loosen those standards on emissions and on fuel standard, but this group would like to see those standards remain tight. what's the van? >> yeah. we're looking for a practical
middle ground that credits more security for more investment in the united states. the trump administration was right in actually reopening the technical review to make sure the numbers made sense. and now what i think these companies are saying is, hey, let's find that middle ground while making pro on reducing emissions. it's a sensible approach, a practical apoach, and it makes sure we have one set of standards throughout the wire country. liz: it's great to have your perspective right after mike pompeo described the deal. join us again. thanks so much. >> thank you, liz. >> anytime. closing bell ringing in 12 minutes, the cow jones industrials up 102 points. we're still to green in s&p as well and the nasdaq. so nasdaq is having a great day, up 87 points making up the data
the industry. sales force tet to make its largest acquisition for $15.3 billion. finish if you don't know, it's a very big data firm whose client list includes netflix to verizon. the deal moving the stock, sales force the biggest drag on the sup while tableau is hitting a 52-week high. this is not the only major merger making headlines on wall street today. here to break it all down, christina christina parts never loss. >> thank you, liz. you saw the stock prices of both companies. i'm going to explain first why you would have the merger of tableau, stock force sales force. you had sales folk -- and you already talked about this -- tons of customers, but they focus on the interactions, the relationships, versus tableau focuseds on cloud, data visual
vegas. i mentioned $15.6 billion deal. you're seeing a massive premium on that price even though it's all stock, a 40% people yes, ma'ams. so we should expect an increase in revenue, and then the bad thing though is you -- expected to be roughly in the range of about 2 51-do at any time 53. one analyst from web bush said we expect sales force will handle the integration carefully, and the combination will likely see significant revenue synergy in the next 12-24 months. and so so this deal, he goes on to say that the deal is transformative, and the price target is $192 within that performance. just to switch quickly, monday is an a exciting day. raytheon and it idea tech -- and
united tech. and straight to some fun facts, because you talked about it being the largest arrow defense company. raytheon's engineers invented the microwave, and united tech received the first-ever gps. you've got a lot of positives from analysts, except for president trump. when you have competitors that join forces. back to you. liz: thank you very much. nine minutes remaining in the session with the closing el up and at 'em. up next, bail on bonds? should you? today's countdown closer has 11 traffic light reasons why you can find better returns for your portfolio elsewhere. he'll give you his ideas on what. "countdown "is coming right back. ♪ ♪
liz: you guys, we're just looking ate big board at the moment. we have lost even more than about 120 points on the dow jones industrials. we have a brand new news conference with mayor the de blasio regarding the midtown the helicopter crash. let's listen in. >> a full investigation is going on, but we have only preliminary information at this point in time. what we do know is that one with person died in this helicopter crash. that person is presumed to be the pilot, but we are still waiting for absolute confirmation of that fact. there does not appear to have been any passenger in the helicopter but, again, we're waiting for absolute confirmation of that fact. we do not know the cause of this incident. i'm sure you're all going to want to ask that. we do not know the cause but, again, we have no indication that there was any terror nexus
here. there were no other injuries that we know of at this point in time to anyone in the building or on the ground. and i wanted to say thank god for the that. this could have been a much worse incident. and thank god no other people were injured in this absolutely shocking, stunning incident. i want to, lastly, say the first responders performed an extraordinary effort here. i want to thank the fire department, police department, everyone, all -- the buildings department, all the agencies that responded here, oem, everybody. this was a very challenging situation. you're going to hear from the commissioner, a fire on the roof that had to be dealt with immediately. fdny did an exceptional job in addressing the situation and ensuring everyone's safety. with that, i want to turn to our fire commissioner. >> at 1:43 this afternoon, we received a call through 911 that
this helicopter had crashed on the roof of this building. members -- our units, local units responded in a little over four minutes. members of the fire department, members of the police department made their way to roof. we were able to put water on the fire quite quickly. unfortunately, we did find a victim with the helicopter who, as the mayor stated, we presume was the pilot. that is the only victim of this crash. the fire has been extinguished. there was some amount of fuel leaked which we've mitigated, and right now the building is safe. building management has begun complete evacuation of the building, that was ongoing as we arrived. and members of the fire department and police department will await the arrival of ntsb and other agencies.
>> police commissioner jimmy o'neil. >> thanks, mayor. at 1:43 the first calls in emergency personnel responded, as dan said, very quickly, and fdny personnel put out the fire. at this point we have one confirmed fatality, and the individual is believed to be the pilot of a privately-owned helicopter. what we know is that approximately 1:32 this afternoon the helicopter took off from the 34th street heliport and about 11 minutes rater crashed on the roof across the street from where we are now. we believe the pilot is identified -- don't have too much more, at this point take
some questions. >> hold on. josh. >> [inaudible] >> yeah, right -- tentatively, we have it as executive traveler. yes. >> [inaudible] >> no, we don't. we think he was going back to his home airport, but we're not sure. again, it's preliminary. >> why was that helicopter in the air -- >> not sure. that's part of the investigation. >> [inaudible] >> doesn't appear to be the owner. we have him preliminarily identified, but it's not confirmed yet and, of course, we are looking out for his family too. >> [inaudible] >> that's part of the investigation, to see if there was any contact made with air traffic control. >> [inaudible] >> hold on, hold on. right back there. >> [inaudible] >> yeah, there's a tfr,
temporary flight restriction, we're checking into that. >> and to be clear, to go into that area, a helicopter would need the approval of laguardia tower, and we need to find out if that happened. we do not know at this point. >> [inaudible] >> dan? i don't know if -- >> no. so far we had a setback on the building but not to street. >> [inaudible] >> one at a time. hold on. all right. >> the firefighters have to deal with the fire above the 50th story, which is extraordinarily difficult under any circumstance and in the middle of this weather. so fdny did an extraordinary job today. dan. >> i think quickly getting up there, using the building elevators, pumping water over 700 feet requires a special hose, special pumpers which we have available that were put to good use today, and the members
got those lines as quickly as possible to that roof. and put this fire out. which was a great accomplishment by the members -- >> commissioner, was there any -- >> hold on, hold on -- >> [inaudible] >> hold on. okay. >> [inaudible] >> you're going to have to say that again. >> [inaudible] >> oh, yeah. that's preliminary. way too, way too early. yeah. hold on. >> we don't know that. henry, we don't know. that's what we're trying to confirm, if they had any contact with laguardia tower or any other entity. >> all right. as we get updates, we'll make them available. thank you very much. [inaudible conversations] liz: one confirmed dead, and it could have been much worse, so says mayor de blasio here in new york city, and we've just got to give a nod to our first responders here in manhattan, both the fire department and
police department on the scene within minutes, and how do you douse flames on top of the 54-story building? they managed, they did it, and they were able to put this thing under control. it came as a complete surprise, but we do also very much want to point out that visibility, you saw all the fog if, visibility dropped within 17 minutes from about 1.25 miles down to just half a mile, and perhaps that has something to do wit. we are awaiting the cause. as we finish up at the moment, we are joined by burke financial strategies ceo john burke. sorry to dovetail, but you say get out of bonds, and we are really short on time here, but whysome. >> well, look, in the last 16 months the stock market's given us nothing but dividends, volatility and a major headache. as such, if you're going to make money, it's got to be in dividends. that's your opportunity right now. value stocks are down. plenty of opportunities in dividend-paying stocks, and
that's the place to be. stocks have been down and out for about the last four years. liz: okay. you just got in the chair. will you come back? >> of course. >> john burke. we're going to give him more on facebook.com/liz claman. that'll do it for the countdown. we are off the highs. starting with the stock market ending in the green today. optimistic about trade. the rate cut on the way in the dow 1765. higher. certain alpha the high, the longest in 13 months now. the dow gestural s&p 500 and the nasdaq both in the territory as well. five straight days for both of them. the longest streak in two months. that is backup within 7% since a correction territory. that was just last monday. >> it's