tv The Claman Countdown FOX Business November 13, 2019 3:00pm-4:01pm EST
not doing it. charles: all right. jim awad, thank you very, very much. folks, you can tell individual investors aren't as worried about this trade deal falling apart. we lost 100 points on the dow and, liz claman, we've just about got it all back. liz: i know, charles. much of this is going to be charles. you see disney's up 7% right now in huge move. we're going to explain what's giving that the real tailwind. but we've got this breaking news. you could argue what charles just said up, down, back up again, stocks are on edge as china trade talks encounter new speed bumps on the road to phase one. this as we await live comments from president trump in just minutes alongside president erdogan of turkey. they will take questions. president trump may be asked about the report breaking this afternoon that china is now refusing to put a certain promise in writing. our cameras are fired up, and we will take the event live because
the first of the house's public impeachment hearings is now in hour, what, five? six? but what had gotten wall street abuzz and the bulls charging before the bears took control was how federal reserve chief jay powell entered the senate lion's den as more hawk than dove. what did he say that brought out the buyers? we've got team fox business coverage of all of the action. edward lawrence on capitol hill, gerri willis on the floor of the new york stock exchange, milliken chief economist bill lee and uber fed critic peter schiff all standing by. first, let's kick off this jam-packed hour with this breaking news. we do have green on the screen for the dow which is now up 102 points, the s&p up 3, the nasdaq down 2 points. the word snag came out in a headline this afternoon. the snag related to u.s./china trade talks, specifically over farm purchases. that's got commodities on the move, and if you look at the beef we export to china, you can check live cattle futures here,
plummeting one and a third percent. china is the top importer of u.s. soybeans. right now the oil seat of soybeans is down about a third of a percent. you can see the dramatic drop intraday. it did settle up about half a percent, but as we watch all of this news, the issue is that china does not want to put it in writing exactly how much and how much worth of soybeans, cattle, wheat, how much of that they are willing to, of course, import. light sweet crude, we've got it up about three-quarters of a percent. and as we continue to look at all of this, we should look at government bond yields. government bond yields are whipping all around in a sign that fear is actually starting to flow into the markets even as we see the dow up 94 points. bond yields have endured a stomach-churning drop as investors seek shelter from this trade uncertainty. prices, which move inversely to yields, rally. the yield right now is at 1
is.86% -- 1.86%, but let me put that into perspective. after spiking friday to a three month high of 1.93%, the ten-year overnight dropped six basis points, the most in a week. and you can see it right now, 1.87%. and we're going to keep an eye on this because it shows this flight to quality at the moment. all right, now i need to get to disney here. 24 hours after debuting disney plus streaming service, the mouse house blew the roof off by announcing at 12:13 p.m. eastern today that it passed ten million subscribers, far surpassing the initial estimate that would take until the end of the year to reach eight million. so is they've already reached ten million? amazing. the stock started to jump about 3%, then 4%, and then just about 20 minutes ago credit suisse raised its price target on disney to 163 from 150. right now we are up, we are at $148.64, a gain of 7.25%.
but you know us here, we want to give a little granularity to news about disney plus. media analyst rich greenfield slapped an interesting development on his twitter feed. he tweeted that the number one trending content on disney plus is not even a disney property. not a marvel movie, not a princess movie, it's the simpsons. the 30-year-old animated show it acquired in the purchase of 21st century fox's entertainment assets. regardless, disney stock's on the move, and that is certainly helping keep the dow in the green. yes, three-decade-old simpsons, what's old is definitely new. reports are now swirling that a friends reunion special is in the works at hbo max which, of course, owned by at&t. hbo max is launching in may with friends reruns migrating there from netflix. so we shall see if there is, you know, a redo there, a reset,
press the reset button. let us yet to this -- let us get to this stock that was supposed to be a big ipo. smile direct club, the teeth alignment company reported that its first quarter results since its september ipo, the very first public results, the stock has lost more than half of its offering price. the bad news continues to pile up. smile direct is warning that estimates for 2019 losses will widen even more. we do have smile direct down 19.5%. $8.92. arctic chills across the u.s. cannot warm up canada goose, it seems. the canadian name behind the $1,000 parka says while revenues in asia doubled, goose expects lower wholesale profit in the current quarter. the stock down 33% over the last year, down 10% right now. all right, with all that's going on in washington from impeachment hearings to trade shockers, wall street remained rivetted for much of the session on one name only, federal
reserve chairman jerome powell. testifying before the joint economic committee, not only did he weigh in with his outlook on the u.s. economy, he made it crystal clear before the cameras and before congress that the negative interest rates that president trump pined for during his new york economic club speech yesterday are now out of the question. >> negative interest rates would certainly not be appropriate in the current environment. our economy's in a strong position. we have growth, we have a strong consumer sector, we have inflation that's a bit below target. so the very, very low and even negative rates that we see around the world would not be appropriate for our economy. liz: let's get inside the room, because that's where edward lawrence was listening to powell's every single word. that, to me, was very clear, and it should be taken as a good thing. the economy's so good, we certainly don't need that negative interest rate shocker. >> reporter: yeah, that's exactly what he was saying. and for the chairman inside this
room here, chairman jerome powell said that it's all about inflation for him. now, he says the economy is in a good place. the monetary policy's in a good place for where the data is coming in. but for him, he's looking at inflation and if it falls even more. his risk is to the downside for inflation, not to the upside for inflation. the bottom line here that the economy is doing very well. he said that consumer spending is driving this economy. he sees that consumer spending rising through the end of the year and into next year. powell says this might be the new norm. we have low inflation and low unemployment. >> i would point to a couple things. these long expansions are common now, and that really is because we conquered the high inflation. we've seen three of the four longest expansions in u.s. history have been among the last four expansions. so it's kind of become the norm to have these long ones. i think -- i hope everyone takes credit for the good economy we're seeing. >> reporter: he indicated that this shift in the monetary policy has helped keep this
expansion going. he talked about this is the 11th year of the expansion there. he ticked off some numbers here, first saying this is 18 months straight of the unemployment rate under 4%. 109 consecutive months of job growth. but the federal reserve chairman is watching the headwinds; global growth, slowing global growth and also the trade uncertainty as those headwinds. as he was talking, the dow turned positive during his testimony. also the yields, the treasury yields kind of edged up, that's during his testimony though. liz: yeah. after -- [laughter] we saw the dow turn negative. it's up now 105, but we did see those yields plummet, and they are still down at the moment. edward lawrence, thank you very much. now, chairman powell was pointedly asked whether the fed is positioned appropriately, meaning does it have enough rate room to cut dramatically if needed if there were a sudden serious downturn in the economy. his response? quote: we don't have that kind of room, we're too close to zero
rates. let's bring in two guys, both very experienced in markets and investing, and they are both fed watchers. euro pacific capital ceo and president peter schiff and milliken institute chief economist bill lee. peter, i'll start with you. that make you nervous that he had to admit we're too close to zero to have enough if there were a bad downturn in the economy? >> well, and it's the fed's fault that we're down here. but, of course, whenever the fed cuts interest rates in the face of recession, it's not helping the economy. the recession is what's helping the economy, because the recession is trying to restructure the bubble, right? the fed artificially are, you know, manipulates the economy with cheap money, and then when that cheap money results in a recess, the fed comes to rescue with more cheap money, but all we're really doing is creating a bigger problem. and, you know, the fed chairman said that the u.s. economy is in a good place. well, they always say that no matter how precariously the u.s.
economy is perched. you can always count on the fed chairman to say everything is great. liz: well, things are not that bad though economically, bill, when you look at the issues that he articulated. let's get to bill lee at the moment. i need to hear from you what you thought, if that struck a little bit of fear in your heart that he flat out had to say, no, we've cut very close to zero. >> actually, liz, my -- i take away a really positive spin from chair powell's testimony because he said we have positive rates, and we're attracting capital from all over the world. it's keeping the economy much stronger than anywhere in the rest of the world, and i think that's the story. in terms of fear, you're right. but the fears are coming from the slowdown in europe and china, and that drives more capital into the united states. so the need for us to cut is really quite limited and, remember, there's a lot of quantitative easing we can do between now and then to bolster the amount of liquidity and funding of investment that comes into the economy. liz: we've thrown so much liquidity into the economy, and
the markets are at all-time highs. any gain for these three names, i believe, is -- yep, uh-huh. any gain for the dow, any gain for the nasdaq and one point of gains for the s&p today would bring another trifecta of records, peter. let the good times roll is what the fed and the president are saying, but the president says cut rates, go to negative, give me some of that. >> yeah, you know, ironically, the negative interest rates that trump is longing for are actually hurting the european if economy and helping to prop up our economy. yes, we are getting some capital moving into the u.s. because it's fleeing the negative interest rates in the eurozone. and so it's propping up our asset markets and artificially boosting consumer spending. so that's making the u.s. economy look better in the short run. but ultimately, we're setting yourselves up -- ourselves up for a big fall. remember, don't put much stock into what powell says, because a year ago he was saying the fed was going to keep increasing
interest rates and keep. >> ringing its balance sheet -- shrinking its balance sheet. it's cut rates three times, and the balance sheet is growing faster now than when they were officially doing quantitative easing. liz: bill lee, you look at this as a positive development, all the good things about the economy that you see, would you stay invested in the market? i ask that because the bond yields are saying something different, and there are suddenly a bunch of articles saying the high net worth individuals are going more into cash, anywhere from 20-30%. stephen schwartzman has just come out, the ceo of blackstone, warning about a recession next year. would you stay happy in the markets? >> and that responds to political uncertainty because of the weird policies democrats are proposing, wealth tax and all sorts of other policies. chair powell said something peter will absolutely agree with, congress, you do your job. congress, make it easier for people to find jobs by getting
rid of regulatory restrictions, by enabling more incentives or private sector to hire. i think he said the onus is on you guys to fix the economy because monetary policy has done all it can, but the real chore is for congress to do its job. liz: peter, do you agree with that? >> well, you know, powell said that he thought that the national debt was unsustainable and that there was a problem there, yet he, you know, doesn't look at the fed's role in enabling that problem. how is a fed chairman going to scold congress for running big deficits when it's the federal reserve that's monetizing those deficits and making it all possible? if the fed really did its job and allowed interest rates to rise, then congress would have no choice but to cut spending. it's the fed that is enabling all the spending and deficits. liz: guys, i just need a one-letter answer. grade chairman powell so far. bill lee, you first. then peter. bill? >> b - and c for technical
performance but a for today's testimony. liz: peter? >> i'm just going to have to give him an f -- [laughter] liz: you never disappoint. >> they've all got f, so i don't want to unfairly tarnish powell. [laughter] but none of them would pass my course. liz: good to see you both, thank you very much. peter schiff and bill lee. by the way, coming up there was a moment involving senator ted cruz questioning chairman powell, we are going to play that for you, and you will be amazed at how politics somehow kind of leaks into the discussion. all right, breaking up not hard to do for nike. with about 15 minutes -- 45 minutes, rather, before the closing bell rings, shares of nike among the blue chip winners today. it's got the second top spot here up $1.80 after announcing it is done, it is decoupling itself from amazon, removing all of its footwear from the ex-commerce giant's site. amazon taking the separation a little harder. right now it's currently down
about 1.5%. nike racing up 2%. nike's also benefiting from an overweight call by barclays. up next, charlie breaks it on the president's economic call to arms and if it's enough to box out the hopes of elizabeth warren or any other democratic 2020 would-be when it comes to the vote. and we're watching the white house where right now our cameras are now inside, you can see the podium. we are waiting for president trump and erdogan of turkey, they will hold a joint press conference amid growing backlash over syria at this hour. each will take two questions. we don't know what those questions are going to be about. could be trade, could be powell, could be anything, impeachment. stay tuned, we'll take it live. ♪ ♪ shipsticks.com ! no more lugging your clubs through the airport or risk having your clubs lost or damaged by the airlines. sending your own clubs ahead with shipsticks.com makes it fast & easy
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♪ ♪ liz: so during that senate event with chairman powell, texas republican senator ted cruz tried three times and failed each time to get federal reserve chair jerome powell to comment on the effect the democratic presidential candidates liz warren and bernie sanders' plan to raise taxes on the rich would have on the economy. listen. >> i'm pretty reluctant to be pulled into the 2020 election, if you will -- it is really not our role to score or evaluate campaign proposals and, you know, that's what the cbo does, that's what lots of other people do. we really try to stay out of that business. liz: kept trying and trying. so as powell stays away from the 2020 elections or any candidates' plans, one reluctant candidate may be beefing up his campaign. to charlie gasparino in the newsroom with the breaking details. what's up? >> well, this is the clearest sign yet that mike bloomberg is
likely to run for president, i would say. you know fox business reported previously, the first, that he has a campaign office with about six people in it, and they were doing polling right up to minute he filed in alabama which was the first steps towards announcing a campaign to run for the democratic nomination. now sources are telling the fox business network that bloomberg is hiring additional campaign staffas he moves closer to this presidential run. we understand that he is offering significant salaries. i don't have the number, the amount of the salary, but i hear it's, you know, right in the ballpark of what people generally offer for top campaign aides. i understand that he's looking to expand beyond the six people there, maybe double, maybe triple, but definitely looking to expand significantly. this is at least what sources are telling the fox business network. we should point out bloomberg has not officially announced his campaign to run for president. he is now registering in different states. i think alabama was the first one, arkansas the second one, and people close the him say he's leaning towards a run.
that doesn't mean he will do it, but the clearest sign that he's going to do it is what's happening right now, and this is going on at the moment. the campaign staff is talking to political advisers, people to go out and work for the campaign. now, one interesting aspect to this, liz, and this is kind of what's baffling about mike bloomberg running, up until about a week before he announced his run are, sources told me -- these are people that spoke with mike bloomberg -- they told me that he was very down on whether he could win a democratic nomination. he said it was very -- it's going to be difficult to win a democratic nomination. he said he could probably prevail in the general election against trump for reasons that he believes the country's yearning for a more moderate voice out there. that flies in the face of what's going on now as he's beefing up. i don't know what his end game is, maybe it's to be a spoiler here, maybe it's to, you know, plant his, you know, put his toe in the water and then run as an independent. but clearly, there's two things going on. up until a week before he
registered in alabama, he was telling people he thought it'd be very difficult to win the democratic nomination x. now as he's registered in alabama and arkansas, he is beefing up his campaign staff or looking to exe paneled it. maybe he saw something in the -- expand it. maybe he saw something he didn't see before. i cover this like baseball, i'll let you guys game plan it. [laughter] liz: you know, 52 billion, 25 of it or so in liquid cash. he has enough to pay to run the numbers, and i doubt he would ever get into this if he didn't feel there was at least a chance. >> i spoke with democratic consultant today who's worked for bloomberg in the past, and he told me, yes, you know, he's heard he's beefing up. he made the point mike an engineer, he was the mitt former mayor, but he, you know, he was a trained engineer before he got into wall street. he's kind of a guy who thinks through things logically and chronologically, and, you know,
i don't think he's going to do this if he didn't think he could win, but i still don't get the end game here. the democratic nomination is very difficult. he himself has said it, but he is making the noises. and a big noise is to education band the campaign -- expand the campaign staff. we should point out paying people for campaign staff is kind of a drop in the bucket for him, so he can literally expand his staff and not run for president, and it won't make that much of a difference. just so you know. like i said, i'm just covering this like baseball, that's what's happening now. liz: he didn't get wealthy by throwing his money around. charlie, thank you very much with the breaking news there. charlie gasparino. look at the dow, folks. up 102. much of that is absolutely disney and nike. disney's now up 7.5% to $148.83. folks, that is an all-time high for disney, a widely-held stock. we're coming right back with much more and the president is minutes away from speaking live. we will take you there. don't go away. ♪ ♪
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♪ ♪ liz: so as we told you, disney shooting to record highs on the debut of its streaming service. look at this. so the blue line is walt disney's stock, the yellow line is netflix which is moving completely in the opposite direction. it is now dropping about 2%. yeah, netflix having a very rough day. make that 3% as we speak. the shorts should be applauding that bit of news because the short interest in netflix is at a ten-month high. short sellers bet against a stock moving higher. all right, let's break this news at this hour, major global headlines sending stocks into a bit of a tail spin. yes, the dow is up 107, but we had been down after dow jones reported that sources said the u.s./china trade talks have hit a major stumbling block. beijing allegedly balking at committing to specific u.s. farm
purchases while resisting u.s. requests for technology transfer curves. president trump may comment on that. he is about to hold a joint presser with turkish president erdogan any moment now. they're originally getting together amid tensions over syria and turkey's deadly attacks on the kurds, our allies who bought bravely to help the u.s. take on isis. turkey's attacks a month or two ago on the kurds initially prompted president trump to impose sanctions on turkey only to rescind them just days later much to the chagrin of both republican and democratic lawmakers. blake burman is standing by inside the east room of the white house. as i understand it, the format is two questions for each leader, right? >> reporter: two and two. as you know, liz, this could really go in any direction to the president, and it's one of those kind of days where no matter which direction you look, there's sort of a headline for anyone. the whiplash in the markets, a lot of that having to do with
one of the big stories that we've been following here in washington which is the evolution of a potential phase one trade deal between the united states and china. "the wall street journal" just reporting here, as you said, within the last hour that chinese negotiators might be balking at putting a potential price tag as it relates to an agricultural buy as to what china will buy from the u.s. just a couple things to note, liz. first off, it's been president trump who has been talking about $40-50 billion presumably at some point over the course of a couple-year time span. however, china has not necessarily specifically given a number as to how much they will buy, when they will buy it, how long that will last, etc. also, liz, we've heard both from the president and his top advisers in the recent days that this deal is getting close, and that matches everything that we have heard both publicly and privately. but you also know, liz, that both sides have kind of been down this road before. earlier this year the u.s. and china were close to a larger
scale trade deal, and that spectacularly blew up in the final stages of that. now both sides say they are getting close, but we hear this reporting from the "wall street journal" that maybe chinese negotiators have some hesitations. we'll see if president trump even talks about it or is asked about it here in the east room. no doubt about it, the story of the day here within the white house is this ongoing meeting it is a taking place between president trump and the turkish president erdogan for some three and a half hours now that is going to cull mitt nate with a press conference -- culminate with a press conference we believe shortly, i think at some point during your hour, liz. those two starts with an oval office meeting, it then went to a bilateral meeting, a lunch meeting, then republican senators were brought in to sit down and talk to erdogan face to face. they had several issues not only with the turkish actions after the october 6th phone call between the president and erdogan, but also the decision that the commander in chief made. not to mention, liz, of course, impeachment which the president
and the white house say he hasn't been paying attention to what's going on up on the hill today. so shortly here, i think, we'll get president trump, president erdogan. two and two, as you mentioned. liz: blake, really quickly, you know how this works, right? nobody's going the waste their question -- at least not the american press -- on, you know, something going on in syria. and i don't mean that in a rude way, i just mean that there's impeachment, we've got the federal reserve, we had jay powell smacking back and saying no negative rates like the president asked for yesterday. and then, of course, the trade deal. how's this going to work, and do we know who he's going to call upon? >> reporter: we don't know who he's going to call upon. it's always a crap shoot, liz, when we walk in here. liz: could be you. >> reporter: could be me. anything in particular? shoot me an e-mail, maybe? liz: yes, the trade deal. >> reporter: no, no, no, and ily if -- i will if we get that chance. there's half a dozen topics that anyone could ask. of course, trade, powell, you know, there are a couple, turkey
and what's going on there, clearly, as well at the top of the list. liz: all right. we're watching you, blake -- >> reporter: e-mail me, okay? [laughter] liz: i'll facetime you, bro. [laughter] blake burman live right there at the white house. the floor show is next with a breakdown of the day's wild trading. don't go away, it may be a squeaker to see a record for the s&p. the dow's already there. ♪ ♪ how did you guys...? >>don't ask. the lexus december to rembember sales event get 0 percent apr for 60 months on all 2019 models. experience amazing at your lexus dealer.
♪ ♪ liz: we have this news breaking right now, recent ipo unicorn peloton spiking on reports that the company is exploring apps for amazon fire tv and for the apple watch. the report says that the company is considering selling less expensive treadmills but also rowing machines. this would happen next year. we've got peloton up 3.5% to $25.55 a share. remember, this company that went public at about $29 a share, so it is still below that ipo price. the dow and the s&p racing toward new records. this will be the 100th record for the s&p if it makes it under president trump. right now the s&p is up two and a half points, needs to be up one point, right in let me jutte make this clear. preponderance if needs to be up -- s&p needs to be up 1.24 points. teddy, phil, let's start bringing out the surgical
equipment here to make it slicing and dicing. what do you think happens here x what message does this send to the investor out there, teddy? >> well, i think the message is the lines of least resistance for the market, in spite of all the naysayers, liz, and there are plenty of them out there, continues to have a positive bias. i mean, the fed, the fed speak today was very comfortable, didn't hear anything, i don't think we heard anything we didn't expect, sort of business as usual. corporate earnings have been fine, the u.s. economy is fine. a lot of the other background noise is simply that, political theater, i guess, if you will. and the lines of least resistance continue to be higher. liz: isn't that that the truth x., phil, you look at the ten-year picture, that would encompass as well president obama's reign. and so you look at how under democratic presidents and under republican presidents, at least after a horrific financial
crisis, this stock market manages to move higher. you know, what can we glean from that, because we know trees don't grow to the sky, and we know this is the longest expansion in history. >> well, we also know that what preceded it was one of the longest slowdowns in history as well. and, you know, i would argue that, you know, we should have recovered from the financial crisis a lot quicker, you know, except i think we made some bad policy decisions when it came to, you know, regulations. you know, everything could be solved with more regulations. i think what you see the expansion of this stock market is a market that has had the chains taken off of it, you know? the removal of regulations, allowing businesses to do business. we're seeing it, of course, in the energy space, you know, we're seeing it in a lot of the small business confidence numbers that have changed a little bit. and i think it's feeding into that market. but what i also see is a vision for the economy, you know, a belief that, you know, the a
can-do attitude. if you look at where we were, you know, four years ago, you know, it's like, yeah, we've lost manufacturing jobs, they're gone forever, yeah, our economy -- the best day's behind it, we don't have that attitude anymore. we've got that old-fashioned u.s. economy can-do spirit, and as long as we have that, i think the sky is the limit here. liz: well, teddy, you've been around long enough that when you hear that, what goes through the back of your mind? not the front of your mind -- [laughter] >> i don't know if there is a back anymore. [laughter] but, you know, liz, listen, this is always a risky business. it's always dangerous to get too complacent and too comfortable. i guess if you're sitting on the sidelines and you've done nothing, it's a prettying problematic -- little problematic because there doesn't seem to be a lot of value around. on the other hand, i would remind you -- i think i've said this before -- and your viewers, you know, the market went on a roll from 1982 to 2000, and the
market went up 18 years, 10 times. it went from dow 1,000 to dow 10,000. including the crash of '87. so to try to put a boundary around the market, listen, the market's going to do what the market's going to do, and mr. market is telling us that things are pretty good, the economy is good, corporate america is good, and the direction at least for the moment continues to be higher. liz: okay. gentlemen, thank you very much. you see the intraday though. it's been kind of a stomach-churning moment at least earlier in the day, but we do have the s&p on track for an all-time record -- oh, wait. not anymore. i told you, things are definitely -- [laughter] moving. so you have got to stay with us. we've got 20 more minutes before the closing bell rings. quick digital programming note, this week's everyone talks to liz podcast, brand new one just dropped. he will teach you a trick or two not just about magic, but about
life. he is the former nfl pro-bowler and america's got talent, he will share how magic changed his life after a horrific family crime left him parentless at age 12 and how a heart condition put an end to his career. today you can see him on the ellen show. turn how he turned his life tragedy into self-discovery and success. you just have to download it. apple, google, fox news podcast.com. m please subscribe. let me know what you think. you can tweet me@liz claman. everyone talks to liz. and you're looking live at the white house where we are promised president trump is moments away from coming out with turkish president erdogan. they are about to address the media. those comments live as soon as they occur, and when "the claman countdown" returns, we'll keep
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♪ ♪ liz: network equipment titan cisco rising ahead of its fiscal first quarter 2020 earnings. they come out after the bell in just minutes, after cisco hinted back in august that it was seeing weak business in china and slowing corporate tech spending, analysts will scrutinize whether those trends continued through the quarter and continue right now. as a barometer globally are, cisco's numbers could be an indicator of how the entire sector is doing. analysts, here's what they're looking for, earnings per share at 81 cents, that would be a 7% increase from a year ago while revenue is forecast to come in at $13.09 billion. and the man who ran cisco for more than two decades, john chambers, superstar of silicon valley, will be joining me in a fox business exclusive tomorrow on "the claman countdown."
the nfl will be holding a private workout for one of the most controversial players ever, free agent quarterback colin kaepernick. yes, this is going to happen this weekend and, connell, i heard about in this morning and thought, wow, i wonder who will attend and what he's going to do. interesting that the nfl's come around on this one. connell: i guess. all 32 owners will have a business decision to make. the first one they'll have to make, to your point, is whether or not they're even going to go. so how many show up in atlanta to see kaepernick work out. he hasn't played since the 2016 season, he's 32 years old now, and after they see him, say he plays well, looks great, does someone make him an offer? our buddy jarrett macks will join the show next hour, we'll talk to him about that and a whole host of other news events. it'll be interesting to see what happens with kaepernick. liz: business of sports is big business. connell mcshane. with the closing bell ringing in about 14 minutes, again, we are
watching a close one. the dow is this. we're up 96 points. that is an all-time new record. the s&p is back up there again. needs to be up about 1.24 points, it's up 2.7 points right now. that will be, if it happens, the 100th all-time new record high for the s&p since president trump took office. one of this year's overseas ipo unicorns having a lucky day in the office, lucky coffee getting a major buzz on soaring revenue driven by new tea offerings and additional store openings. right now shares are jumping 13%. this is a starbucks competitor. but not to be outdone, america's favorite coffee chain, starbucks, making a huge move in the windy city m windy city. coming up, jeff flock is about to take you on an exclusive tour inside the brand new
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liz: this alert, it was supposed to happen at ten minutes past the 3:00 hour eastern time, but we are still waiting on president trump and turkish president erdogan's press conference. we will take you there as soon as it happens. all right. anybody want to sip from my tar bucks reusable christmas cup? no? well, surely you'd like to drink of the stock which has jumped 30% this year alone. it's up another percent as the coffee giant prepares for the grand opening of its largest location on plant earth. the windy city is about to get a massive shot of espresso.
this friday, it's a 35,000 square foot starbucks roasterie that will open on the magnificent mile. who else would they want to give a first exclusive look of it to than jeff flock? this is amazing. and you've got the interview too with starbucks' ceo. >> reporter: and i don't even drink coffee, so it was amazing that this happened -- liz: you don't? [laughter] >> reporter: that's kevin johnson, the ceo of starbucks now following howard schultz, and he did. i want to show you the pictures. it is an amazing place. for people who know chicago, this was the old crate & barrel flagship store. four stories, five total floors if you count the basement. it's all coffee in there. well, there's some, actually, alcohol in there too. there's a bar in there too. it is one of six starbucks roasteries around the world, places like shanghai, seattle, tokyo, milan and new york city. but more importantly, we've got
some news with kevin johnson. talking to him not only about china, which is huge, starbucks growing big in china as well. but we asked him about the whole conflict now between billionaires and people maybe running for president who don't like billionaires. he told us there should not be a conflict here, you can do well and do good. here's how he put it. >> starbucks was founded 49 years ago around a mission grounded in humanity. and with the belief that the pursuit of profit is not in conflict with the pursuit of doing good. and so we, our purpose and our reason for being to leverage our platform and our scale for good. >> reporter: 64, is what the stock was in january. it is now 83, liz, as you point point out, more than 30%. up some more today. starbucks certainly doing well and and also doing good. liz: you know what? a ten-year chart would really show how well they have done by doing good and doing good
business, jeff, because i can tell you that that is a company that has always thought about their employees, right? >> reporter: from day one. liz: free education and health care. you know, just amazing. all right, thank you very much, jeff flock. great get there on starbucks. google getting into banking? it's not even a bank. how are they doing it? that is next. the dow is up 88 points. ♪ ♪ heading into retirement you want to follow your passions rather than worry about how to pay for long-term care. brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. . .
♪. liz: we didn't even get to mention the consumer price index that came out this morning for october t was up .4 of a percent. yet we still don't have meaningful inflation. let's look at google. looking to get its hands on your wallet. the silicon valley giant will soon offer checking accounts to consumers. it become as latest tech-heavy weight to push into finance. remember facebook came out
yesterday and said it would do that facebook pay? it doesn't stop there. the search giant wants your personal health data. gerri willis with more on the story. reporter: liz, that's right. not just your financial info but health care information. google working in partnership with a company called ascension, the nation's second largest health system they have access to personal health care information, doctor appointments, drugs you take, operations you have for 50 million americans. amazing. they will access database for better health care. health and human services, department of health and human services investigating this. we'll find out what happens. liz? liz: google is flat on the session, gerri. bring in hugh johnson, founder and cio of hugh johnson advisors. we are about to see the 100th record close for the s&p under president trump. what should that tell investors? >> well, it tells investors that the message of the markets, really investors collectively
telling us, if you're worried about next year, if a lot of people are saying there will be a hard landing a bear market, accompanied by recession, we'll miss that. economy will simply so, markets do okay. the message of markets investors collectively is very clear and simple. it is not going to be a hard landing. it is not going to be a bear market accompanied by a recession. it will be a soft landing and you can still feel campus for thible being in the stock market. i might add, liz, something pretty important. not just the message of the markets. look at something people are overlooking right now. money conditions are getting better and better. the growth of the money supply, enough money is being created what i'm simply saying to drive both markets and the economy. you put those two things together, message of the markets, that is positive. positive liquidity conditions. you got a pretty good combination. melissa, well you know what we're doing, hugh? we're giving you fireworks. as you help us finish up our show, we are looking at an
all-time record for the dow jones industrials. [closing bell rings] s&p, folks, you can say it, looks like we'll see the 100th record since january of two years ago. the nasdaq lower by two. that will do it for the "claman countdown." now time for "after the bell." connell: another day of all-time highs on wall street. the dow does indeed close at a new record high. second we've seen this week, 10th of the year. really disney lifted it higher. huge day for disney on stronger than expected demand for the newly launched disney plus service. we'll talk a lot about that. we'll talk about a lot of things. i'm connell mcshane. melissa: i'm melissa francis. this is "after the bell." the s&p fighting for record close, the 100th under president trump. nasdaq fighting for gains. also, appears to be just falling short. we'll keep an eye on that one. more big market movers. first, here is what is new at this hour? we're awaiting
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