Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20180213

Handled better. Yesterday you echoed that the situation could have been handled better. Today the chief of staff said it was all done right. You can explain does the white house think the rob porter situation could have been handled differently or all done right . As i said yesterday, we come here and do the very best we can, and every day we can do better than the day before, and were going to continue to strive for that, were humans making us imperfect people so every day i think we can learn from the day before and striving to do better. Thats our goal certainly within our team and try to do everything we can to help serve the American People to the best of our ability. Reporter was it appropriate for hope hicks to be involved in drafting the statements given her relationship with mr. Porter . She was not part of a lot of the conversations that took place. I dont recall you being in the room to be able to say specifically what comment she made or didnt make. Shes the White House Communications director and an important and valuable member of the staff, and shes done a great job in that role. Steve . Reporter was there discussion about promoting rob porter to another job at the time this blew up . I dont know the answer to that. Jeff . Reporter sarah, you said that the fbi has said it completed in late july, but you said a followup required more field work on that. Is that because of something that rob porter said in response to that . That the allegations werent true . Or what required more field work followup . I wouldnt know the specifics. I can only refer you back to the previous statement. Reporter in an oped this morning in the Washington Post, the first wife of rob porter said specifically of you, i expected a woman to do better. Based on what you know, do you believe you were personally misled, and do you have any regret for how you have explained this to the American People . Look, as i said, we do the very best job we can every single day. I would never presume to understand anything going on with that individual, nor would i think that she could presume whats going on with me or the way that im responding. Look, weve condemned Domestic Violence in every way possible. In fact, the president s budget he released yesterday fully funds the violence against women act. Were looking for ways to take action to prevent this from ever happening to anyone, and to presume that i feel differently is simply a very strong mischaracterization of who i am and who this white house is, and what our actions are focused on and what were trying to do here. Sorry, im going to keep moving. Reporter as we sit here today, in terms of if the president has confidence in him . Why does he have confidence in him based on everything weve learned over the last week . Look, i dont have anything further to have. The president has confidence in his chief of staff. Were going to continue to do the best we can to help the American People. Julie . Reporter clarification on a question. In july when the fbi was sent back into the field to get more information, are you telling us no senior staff, not john kelly, nobody in the west wing was involved in the decision to tell them to go back and see if they could get more information again, not that im aware of. I cant say with 100 certainty, not that im aware of any conversations between those individuals. Reporter are you looking at now ways that you could change the process so that if a senior official in the white house is facing credible allegations of spousal abuse or other criminal charge that senior staff would be notified in a timely way . This appears to have, if your time line is accurate, taken more than a year. Look, i think this is a process that the Law Enforcement and Intelligence Community should weigh in on and determine if changes should be made to the way its carried out. Reporter im not talking about their process, im talking about the process here where serious allegations could surface and nobody in the west wing would be aware of that. That would include those agencies and those departments, so you couldnt exclude them from a conversation about what changes should and need to be made to any program. I think that would have to be something that involved all of the stakeholders and something certainly far beyond my purview to walk you through today. Reporter sarah, just following up on what julie was asking, youre saying Law Enforcement should weigh in. But youre the white house, youre in charge, this is your process. Its actually not our process. A large number of the background component is run by the fbi, other intelligence agencies weigh in. Again, what i said is that all of the stakeholders should be part of that discussion and should be looked at and determined whether or not changes need to be made to the process. Given that it impacts the white house staff, do you not want to request an improved process here . Again, that would go beyond my scope they can walk you through today. Its certainly a conversation that all of the stakeholders should have. April . Reporter sarah, couple questions, in light of everything thats going on, is there a review now, internal review of all those who have interim security clearances to see if they stay or go . I cant speak about whether or not different staff have interim or permanent security clearances. Reporter im asking about the process, is there a review of those who have interim passes to see if theyre going to stay or go because in light of whats happening now . My understanding is thats been going on for a while and determination could be made outside of anything i can walk you through. Reporter and you spoke of fully funding the violence against woman act, up for reauthorization. Tell me the price, how much the president is willing to put in there, and was that the price to all of this happened with the two people in the last week . Im sorry, im not following your question. The budget, you said the president is going to fully fund the reauthorization of violence against women act. Its up in march. How much was he putting in id have to look at specific number. It was rolled out in the budget presented yesterday. Reporter you mentioned it, is the number the number thats always been or just done what can you talk to us about the number that was requested has been put into the president s budget. Reporter when was it put in . In the budget rolled out yesterday thats been part of the ongoing process. We dont plan a budget in 20 minutes. Its been something thats ongoing. Reporter i understand that, i understand that. There are things in the budget mr. Mulvaney didnt tell us about yesterday. That means you probably didnt ask the questions. Reporter he didnt give us the information. Reporter thanks a lot, sarah, i wanted to get clarification from you regarding the testimony, the sworn testimony today by the fbi director. Laid out the time line, and according to the fbi directors testimony, the fbi submitted a partial report on the investigation in question of porters background check in march, and then a completed Background Investigation in late july, and yesterday when i was asking you about when the white House Counsel learned about mr. Porter, had he learned before the report in the daily mail last week . Your reply to me was the process for the background was ongoing, and the white house had not received any specific papers regarding the completion of that background check. So those two statements, the fbi director statements to wray and your statement yesterday seem to be at odds with one another. Do you see anything that youd like to clarify in terms of what i asked you today based upon your answer yesterday . Yeah, as i said earlier, my understanding is information that had gotten to the information personnel office, that information had not completed their process to make a recommendation for adjudication to the white house. That was ongoing and recommendation had not been made. Reporter you said the specific papers regarding the completion of the background check had not been received. Thats part of that process that the White House Personnel Security Office plays, run by career officials and hadnt received a recommendation from the office. Reporter the fbi director said today under oath that the completed Background Investigation was actually submitted in late july. So which one is it . Let me read this to you again. The White House Personnel Security Office, staffed by career officials, received information last year in what they consider to be the final Background Investigation report in november, but they had not made a final recommendation for adjudication to the white house because the process was still ongoing when porter resigned inform the view of Personnel Security Office, the fbis july report required significant additional investigatory field work before Personnel Security Office could begin to evaluate the information for adjudication. We find those statements to be consistent with one another. Jack . Reporter mr. Mcgann give you statements regarding what he knew and knew it . Reporter tend to relay whatever information you know up there. Is there a feeling chief of staff kelly misled and you his colleagues what he knew and when instead of the Communications Staff for failing to comply communication in order to cover up the way he fired rob porter . Were giving you the best information we have. Obviously, the press team is not read in, maybe other elements on a variety of topics, but we relay the best and most Accurate Information we have and get those from the individuals. Reporter can you talk about the other staffers who have been dismissed previously for not passing background checks and why porter wasnt treated in a similar timely manner . My understanding is the same process is followed for all employees and used in previous administrations. I cant comment on anybody elses dismissal. Reporter you talked about multiple times the best information that you have. This scandal has been going on for a week now and we still dont have answers to the basic questions of who knew what and when . Ive done the best i can to walk you through that process as has raj, weve done that stensively and refer tout statements. Reporter im asking whether you spoke to specifically john kelly and white House Counsel to ask the questions. You said im not aware or im not sure. That is the information that was given to me by the individuals. Reporter a rob porter question, most of the focus on the Fox Business Network said weve got to get out on entitlements. Talked about structural deficit. We need to get our other partners in government, white house included to do the entitlement reform were willing to do in the house. What does the president disagree with House Speaker paul ryan on that question of the structural deficit and the problem of mandatory spending . Would have to ask him specifically on that question. I know the president certainly would like to reduce the deficit and thats one of the reasons his budget, this time, this budget reduced the deficit by 3 trillion, which is one of the largest in history, and hes going to continue to look for ways to do that. Reporter the speaker says the structural deficit for mandatory spending, not the Discretionary Spending that is the driver for years. Was the president disagree with him . I know he said he doesnt agree with that approach. Why doesnt he agree with that assessment . Have to ask for the specifics that he doesnt agree with one. Dave, the last question. Reporter majority leader mcconnell said the daca negotiations have to be done by the end of this week. Did he give the white house a headsup on that decision and reflect any view from the white house that democrats are not bargaining in good faith . For example, they blocked the vote on sanctuary cities today . Its up to congress to set the timeline. The president laid out the priorities that he has for that legislation, and were only going to support a legislation that deals with those four priorities that weve laid out. We hope republicans and democrats can come together to a consensus to fix that problem and not kick the can down the road. Thanks, guys. Liz White House Press secretary Sarah Sanders wrapping up her News Conference here, which actually began with transportation secretary elaine chao, who was stressing how important an infrastructure deal would be. And i dont know if you noticed this but elaine chao specifically breaking out what she said was a trifecta of effort here. The federal government on the hook for money. States would be making decisions and she was short to say that she kind of thought that Pension Funds have a lot of money, and that could be a source of capital to spend on Public Infrastructure projects, so private, public, federal, state. We need to get to this, there is breaking news, Israeli Police revealed extremely serious charges of fraud and bribery and squarely at the countrys venrated Prime Minister Benjamin Netanyahu that could lead to his indictment. And just breaking with this, the corruption probe names two very wellknown billionaires who may have been involved. Its hitting the tape right now, police say netanyahu received gifts from hollywood producer arna mill shen and james packer in return for favors. Netanyahu made a statement on television denying allegations. Todays Market Action indicates stocks started in the red. Dow was down 180 points, but look at it now, midway through the session, most of the indices turned positive. This is the third day of gains for the major indices, volatility taking a back seat on that and on this. Interest rates on treasuries appear to be holding steady. Remember a spiking treasury yield on the ten year concerned a lot of people last week and some say helped trigger the stock selloff. We should look at medical equipment makers and supplier stocks calling up code red in the final hour. This is another blame amazon case by the way. The online retailer today announcing today it woke up and realized it wants to become a major supplier to hospitals and outpatient clinics. So there you see it on the screen, swept up in the fear. All of these suppliers, patterson, mckesson and you see henry schein, swamped by a federal trade commission complaint, its a double whammy for that stock. Twitter, look at this, twitter jumping up nearly 8 in this final hour on track is for highest close since july of 2015. What got the social Media Company there . Theyve got something to crow about. Twitter stock is on pace for best month since december of 2013. This in the face of last weeks market correction. Stock is up 31 since Earnings Report a week ago. So twitter for the moment up 2. 44. Investors are zooming away from harleydavidson after the iconic motorcycle firm forecasts a drop in shipments to dealers this year, citing hesitation from the younger more pricesensitive set. Buyers that encompass some millennials who say im not spending that much on a motorcycle. Harley is down nearly 2 . Nobody mentioning the fed today but its influence is still there and countdown is going to do that. Weve got a reason we noticed. Did the new Federal Reserve chief today just kind of quietly signal that hes actually worried about what he saw the stock market do last week . This didnt get a lot of attention this morning, Team Countdown decided to scrutinize prepared remarks from Jerome Powells swearingin ceremony. The Federal Reserve, quote, will remain alert to any risks to financial stability. In and of itself, youre saying so what, liz . You got to read between not just the lines but the words and the letters. About an hour prior to the new fed chairs remarks, cleveland fed president says she is chill, she expects the economy will work through the episode of market turbulence. She has not changed her outlook. And forgive you for being busy last week with the markets. We noticed that three fed president s, Robert Kaplan of dallas, new yorks bill dudley and san franciscos John Williams pretty much reflected what Loretta Mester said this morning, is jerome powell, President Trumps pick, signaling hes going fly away from the flock of fed president s and maybe janet yellen . Hes very concerned right now . What are seasoned traders reading between the lines about his remarks . Ask him, traders at the cme, nymex and the nyse. What do you hear about this . When we talk about the fed, keep a few things in mind. They play the card close to the chest. They dont like to tip hands, not overly transparent. One tone we heard from ms. Yellen which i think were going to continue to hear about in the future is being data dependent. Whats happening in the economy . How is the economy reacting to whats going on globally and translated into numbers that we liz john, didnt that get the fed in trouble that forced them to keep rates so low for so long and look at the horizon instead of realizing they should have started incrementally raising rates a long time ago because things were fine here . Theres always a hot spot somewhere. Thats right. They are looking too far ahead instead of what is in front of them right now. Whats going to happen in the Economy Today and the next quarter . They were looking way too far ahead and missed opportunities to raise rates. Hopefully this administration might tighten the reins and take a look at a closer spectrum as opposed to to the future. Liz larry, if theyre looking for points on the spectrum, look tomorrow to the Consumer Price index, the cpi. Its a good indication of inflation and whether it exists in the Consumer Prices that we see. You are exactly right. This is a big number and consensus seems to think if the number is hot or better than expected, then that would be a headwind to the market and positive correlation between stocks and bonds resume itself again. Where the confusion lies is what happens that its in line or worse than expectations, what then happens . Are we going to go back to fundamentals or focus on fiscal debt. The fact were adding a trillion dollars a year to the National Deficit for four years . Theres a lot of moving pieces. Im the first one to say fundamentals are pretty good except when it comes to public debt, when you figure that 2017, 1. 79 trillion of tax receipts according to u. S. Treasury with a debt of 20. 24 trillion, something has to give. Keep your eyes focused on 10year yields. Liz youre making my body temperature rise. Its disconcerting. Elliot, do you listen to the fed . Do you parse those words as much as some of us do . I dont. Im looking at oil, a Pretty International product, and natural gas. So energy, the fed affects that, but we were talking about that earlier and other thing about what the other guys were saying, i keep looking at Consumer Debt and rising Interest Rates, and i keep thinking about families are at alltime highs on Credit Card Debt and everything, and Interest Rates are going up. I mean, thats something that for me seems to worry me a little. Liz i saw that. The debt level in the Fourth Quarter today, you are right, came out, i took a note of it. 402 billion higher yearoveryear. Weve got to be careful that we dont get sucked into a credit crisis. Gentlemen, weve got to run, thank you so much for weighing in on this. Weve got to go back to capitol hill. The senate plunges face first into open ended immigration debate or was it a discussion . We just heard from senate leadership, both side of the aisle. Were going to bring you the sound of that in just a moment. Both of them got in front of microphones and said interesting things about daca and the time line. Budget director Mick Mulvaney getting the hammer over President Trumps 4 trillion plus budget plan which is what larry shover was points out. It is on a collision course with former comrades who cared deeply about spending too much. Hes supporting a bill that has deficit hawks calling it, quote, everything from a betrayal to a threat to National Security to. Fox business Connell Mcshane watching all of this on capitol hill. Mick mulvaney, i guess you could say hes got some explaining to do, not just to old friends but you heard larry shover at the cme saying what are we going to do about that . Reporter a big question hes been facing the last two days. I was at a briefing with mulvaney last night at the white house, thats what we asked him about. Making assumptions about debt and deficit based on tame inflation, fairly low Interest Rates Going Forward and he heard it from old colleagues on his own side of the aisle, which well get to in a second. We did think we would be well into a debate on immigration, but were not. What happened earlier was interesting. There was a vote to begin the immigration debate but not on how to do it, so then there was a disagreement on the floor of the Senate Earlier today where the leader of the republicans, Mitch Mcconnell came down and asked for unanimous consent to start the debate. He wanted to start it with an amendment on sanctuary cities. Immediately there was objection from senator chuck schumer, leads the democrats, saying no, we want the debate to only be focused on two things, daca and border security. Schumer repeated the comments a few moments ago and mcconnell gave us this update. Listen. Im ready to get started. This is the debate they said they wanted. I said wed have an open and fair process. Were trying to do that and the sooner we get started the better because we need to wrap this up this week. Reporter also today on capitol hill, the budget director Mick Mulvaney did testify, heard from some republican on the deficit concerns and number of democrats on cuts to domestic programs and its worth pointing out he talked about immigration and mulvaney said that the white house is presuming that a daca deal would get done. In fact, theyve worked it into their budget projections, maybe getting ahead of themselves as we havent started that debate yet. Thats how the senate seems to work. Back to you. Liz indeed, connell, thank you very much. Weve got 36 minutes before the closing bell rings. Dow Holding Onto Gains of 44. The author of one of the most widely read newsletters on wall street says time for the bulls to take shelter . Straight ahead, Dennis Gartman on why the bear market is here . You just dont see it entirely out there yet. Countdown coming right back. You may be at increased risk for pneumococcal pneumonia, that can take you out of the game for weeks, even if youre healthy. Pneumococcal pneumonia is a potentially serious bacterial lung disease that in severe cases can lead to hospitalization. It may hit quickly, without warning, causing you to miss out on the things you enjoy most. Prevnar 13® is not a treatment for pneumococcal pneumonia. Its a vaccine you can get to help protect against it. Prevnar 13® is approved for adults to help prevent infections from 13 strains of the bacteria that cause pneumococcal pneumonia. You should not receive prevnar 13® if you have had a severe allergic reaction to the vaccine or its ingredients. If you have a weakened immune system, you may have a lower response to the vaccine. The most common side effects were pain, redness and swelling at the injection site, limited arm movement, fatigue, headache, muscle pain, joint pain, less appetite, vomiting, fever, chills, and rash. Help protect yourself against pneumococcal pneumonia. Ask your doctor or pharmacist about prevnar 13®. Liz i kept saying come back from the commercial break. Up 62 point. Not the biggest roaring rally, but were in the green here. So last weeks bear scare looks like a bad dream. Its now over, right . Many a market watcher will tell you the economy is on solid footing. The S P Companies reporting earnings, 78 have beaten on profits and corporations sharing tax cut wealth by handing out bonuses and boosting wages. Bull Market Scenario for sure, right . No. Says one of the markets widely read newsletters. We are clearly of the opinion that the highs made in late january mark a bull market peak and the beginnings of a bear market. The author of that statement and the gartman letter Dennis Gartman joins us now. Good to see you, dennis. Good to be here, liz, thank you. Liz pretend you are are back at nc state where you got your degree and stated your thesis where the bears woke up from the long slumber and im your professor asking what are your supporting points, dennis . Supporting points are, this Interest Rates are indeed moving higher and shall continue to move higher. Two, the Monetary Authority who it done the right thing in 07, 08 and 09 by force feeding reserves into the system by putting into effect quantitative easing are beginning to stop, they are beginning quantity taydive tightening. Three, markets look forward, they dont look back, they look to the present, they look ahead. Historically, statistically, markets move up before the economy moves for the better, markets move down long before the economy moves lower. The economy is doing quite well, continue to do well. As money is no longer presented and printed by the monetary authorities, the money to keep the stock market moving higher the money to keep the economy moving higher must come from somewhere and it will come out of capital market, historically unprecedented. Liz im relating more to the first point, volume appears to be spiking when the markets are plummeting meaning people are sell like a storm when they start selling, it had hit 2 just yesterday and, of course, its at 2. 85. 2. 83 right now. It appears to be stable. It is stable, but over the course of the next year and a half or so, can we take the 10 year to a 4 coupon . That would be relatively easy. I started in the business in the 1970s and on the florida board in the 1980s and trading the long bond with 14. 25 coupon. A wonderful old issue when 8 coupon went to a discount. Can we get to a 4 yield over the course of the next year and a half or so, 2. 85 on the ten year a high rate . It is compared to month and a half to two months ago, it is historically incredibly low level. Liz neil cavuto will tell you my mortgage was way higher than any of the kids mortgages now. Dennis, thank you very much. Liz, thanks for having me on. Look forward to doing it again in the future. Liz any time, Dennis Gartman of gartman newsletter, if you havent read it, go on the website. Its absolutely crucial if you want to learn more about your money. Dow is up 55 point, make that 5 2. You have to stay with us. By the way, we were talking about a bear market. How about bears who have heavily shorted under armour . Its the most heavily shorted stock on the s p . Theyre proving all the hater bears wrong at this hour. Up 17 . A slamdunk of a quarter beating on revenues thanks to heavy demand for footwear and apparel. Four brokerages boosted price targets on the stock. Some of them are already behind. Before you start jumping hurtles, note that over the past year under armour is still down 29 . Have we told you a few years ago that newspaper stocks would be up double digit percentages from 2017 to today, youd have laughed in our faces. Newspapers were dying, right . Everybody was saying that. But then the unlikely white knight arrived from the white house. President trump sparking newspaper wars with his unorthodox presidency has major outlets battle it out for the juiceiest scoops they can find and winning because of it. Is donald trump emerging as the Unlikely Hero . The man who worked at the Washington Post, Mediabuzz Howard Kurtz from fox news breaks it all down next. Stay tuned. Think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. 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Listen, at a time where print had everybody saying it was dying, newspapers like the Washington Post, the New York Times and the wall street journal have practically been falling over themselves to breaking news on trump reporting bombshelltype blockbusters that rattled the media and the White House Administration over the past year but spiked circulation. Paid circulation. Has the Trump Presidency been what has revitalized a business everybody said was on the way out . We bring in somebody who for 29 years was inside it, author of media madness and host of mediabuzz on fox news channel. Howie kurtz. You were 29 years at the Washington Post, did you at least get like a gold watch . I got a cake when i left, yeah. Liz okay, you need the watch, you should have pushed them on that. What does this say to you . This has been fascinating, subscription online, mostly digital has been spiking for certainly the New York Times and the Washington Post. Wall street journal already in a terrific position but all three of these papers have been fighting to break stories on the trump administration. Yeah, its not just the scoops, liz, it is the narrative of the Trump Presidency, a guy makes news 23 out of 24 hours a day, and also, you know, the way the papers have positioned themselves, for example, Washington Post, it helps to have a rich owner like jeff bezos using the slogan democracy dies darkness, wonder who thats talking about . The problem i have as i describe in the book is the overwhelmingly relentless negativity to so many of the stories. A section, business section, sports section, donald trump cheats at golf, has certainly helped them financially, the people who dont like the president gravitate towards the papers and the political reporters are contributor at msnbc and cnn, they go on at night and talk about the latest trump stories. Liz let me just nudge you on the scoop issue. We could point to any of these, for example, the Washington Post had a very big scoop that had broken and probably had the New York Times a little jealous, that was that President Trump apparently revealed top secret, important classified information possibly from the israelis, they revealed that foreign ambassador and to the New York Times which had the scoop on james comey shut downing the flynn investigation, and the wall street journal which is hardly a bastion of the left, most recent report on the porn star stormi daniels apparently allegedly paid off to stay quiet. So youre looking at this selling newspapers and maybe revitalizing the business model. Well, i could give you 20 more examples of good investigative reporting and legitimate scoops. There is this thing particularly on the russia investigation, every Incremental Development is treated as the next watergate or when it gets amplified in the cable news segments with hosts that are not sympathetic to the president. Also the president keeps them in the news because hes constantly attacking the, quote, failing New York Times to the point that the subscriptions are soaring and keeps giving interviews to the New York Times despite the fact hes called the paper evil. Liz good point, thats the thing. He certainly picks his favorites and they are at many of these newspapers, including the wall street journal, which is, of course, owned by News Corporation which had been our parent until it split off. Amazon owns Washington Post. News corporation owns the wall street journal and New York Times, the New York Times, all three of them are up. Double digit percentages over the past year. I believe news corp. , where did i put the list, up more than 20 . New york times up 48 . Amazon better by 65 . Howie, good luck. Thank you very much. What an argument theyre make money at a time when the president is constantly attacking fake news. Liz exactly. Thats our point. Hes the unlikely white knight for the newspaper industry. See you next time. Good luck with the book. Thank you. Liz apple, you should look at this. Up 1 when. Apple is up 1 , it has outsized effect on the major indices, shareholders gave tim cook and company a big thumbsup. A big Approval Rating during todays Shareholder Meeting at apples brand new headquarters after voting to approve all the board members. Is trouble still on the horizon . There are Discount Deals for the iphone x. This just came out, the first buy one get one free deal of the iphone x arrived. At t is offering it, and does this mean for the future of iphone sales . Bring in longtime apple analyst dan ives, covering apple before the first iphone was invented. Two for one, that looks like a bargain bin situation on the iphone x. Am i miss interpreting that . If you look at iphone x, asps 100 and seeing demand soften here, you see the promotional activity where you have to remember that theres three new iphones that will come out between now and september. So this is part of a typical cycle that weve seen for apple. Net net, if you look theyll have 240 million iphones sold this year, which will be the biggest year theyve had for iphones. Thats why there is definitely hand holding on at the Shareholder Meeting as well as investors, as you have seen demand soften and the maturation of the smartphone cycle. Liz you nort, there its not analyst day, its shareholder days, maybe you are giving such high approval because of special dividend. I can remember when apple gave no dividend year after year, it went from a Growth Company to a basic giant, and they had to have their arms twisted to give a dividend. What do you make of the special dividend discussion . The sparthave you 200 billion plus repatriated cash. With earnings, have you 300 billion buyback announced, Dividend Increase that could be up to 20 . The special dividend cooks not a big fan there, and thats why its a big question of will there be 15 billion special dividend or does that get thrown in the boxes . Liz am i wrong, didnt carl icahn smack him around to wrestle money out of the fists of apple to make that dividend happen . You are talking about economy thats going to generate 200 billion over the next two years. The man whos been repatriated do, they do m a . We know buybacks . Do they buy companies, if you look at content in the living room, thats what investors are focused on. Liz you like it. 180 to 200 stock, the nearterm turbulence is buying opportunity 12 times, and these are the times right now that you own a name like apple. Liz stock is 164, decent amount of upside you are calling for. Good to see you, dan. Great to be here. Dow up 37. Weve lost steam here. What could happen . Anything in a couple of minutes of a commercial break. Stay with me. Were at 24,653 on the dow. This new day. Looks nothing like yesterday. Roads nowhere to be found. And its exactly what youre looking for. Liz wall street and Corporate America zeroing in on the at ttime warner merger, even if theyre not in the industry to see what it means for future deal making in this administration. But could comcast be the next company to feel the wrath of the department of justice . This is take two of what you began yesterday, charlie. This story is buzzing right now through the halls of wall street, our report yesterday about the d. O. J. Taking a good look at comcast, and whether it lived up to conditions of its merger with nbc u in 2011, i guess it was, and whether they need to reimpose that. Set the groundwork here, there is two stories. Theres a wall street story and Corporate America story. The wall street story is simple. If they dont allow. If the Trump Justice Department can convince this judge, this federal judge to break up the at ttime warner deal, thats a pretty big merger, one of the biggest ever, wall street believes that could upend a lot of dealmaking. Will it hurt our deal to buy disney . Probably not, but the notion liz you mean disney to buy. Our assets . No. Probably wont. But the decision where you have a big distributor arm and content play, merging that together. If they can get the judge to vote against that, those deals are off the table and those are a lot of potential deals giving whats going on in media right now. Thats one play out there wall street is looking at. Second play involves comcast. Set it up with what i said yesterday. Comcast bought nbcu in 2011. They agreed, that was the Justice Department under obama, they agreed to a number of conditions. Current Justice Department under trump basically believes that those conditions werent always met or at least that deal, with its conditions, still hurt the shareholders . I should point still have consumers. Now i should point out that that case will likely be made in the at ttime warner deal. What theyre going to say, the Justice Department, they may not go through it, but theyre talking about it, they may say hear are all the problems with nbcu, comcast why. Replicate that with at t. Liz everybody thought this administration run by a businessman would fling open the gates and say everybody, its a party merge do whatever you want its not a problem this is the complete opposite youre telling me. Well, in this case, listen, theres no doubt in my mind that President Trumps dislike for the media plays into this. His lawyers are doing some of this. Liz youre saying if this was Minnesota Mining and manufactures or United Technology it would he hates media concentration, he hates their power, and some of this is Donald Trumps philosophy and his own instincts. He doesnt like the concentration, he thinks being up against a stronger cnn is a problem for him. Being up against a stronger nbc liz isnt that politicizing the department of justice . Yes, it is. Liz the fcc. Yes, they could argue, and heres the other thing, depending how, if the judge opposes this deal, breaks up the merger, you could see trump, and this is what theyre talking about inside the trump d. O. J. Possibly going back in december when those conditions expire on nbcu, comcast, possibly reimposing them. How they exactly do that . I dont know. Im hearing people close to the Justice Department may go to a judge and reargue for that. Liz charlie, thank you. Youre welcome [laughter]. I dont think comcast is saying youre welcome right now. Liz before we head to the break, weve got breaking news. We are just learning that perhaps dozens of russian nationals were killed during fighting between progovernment forces and members of a u. S. Led coalition. This back on february 7th. So last week, and 8th in eastern syria. The official number of deaths coming in at this hour. Well bring that to you as it breaks. When a u. S. Led coalition killing russian nationals, youre going to have tension more than we already have with the tensions . Well have all of that when we come back. Market vixation. Volatility vexing investors. Today, the new new york is ready for takeoff. Were invested in creating the worlds first stateoftheart drone testing facility in Central New York and the mohawk valley, which marks the start of our nations first 50mile unmanned flight corridor. And allows us to attract the worlds top drone talent. All across new york state, were building the new new york. To grow your business with us in new york state, visit esd. Ny. Gov. On thousands of hotels, cars and things to do. Like the occidental at the xcaret destination for 32 off. Everything you need to go. Expedia. Liz, so weve seen stocks swinging like a pendulum over the last two weeks. Volatility index which shows fear in the market seems to be easing at this hour. Does that mean were in the clear . We bring in the allstar panel who will tell us what theyre vixa iting on . Market works up to the 50day moving average before we run into a bit of resistance where we go down to the lows we saw before. Liz if youre looking for exciting moment, you will get it in a week or two, is what youre saying . I think that is certainly a possibility. We really dont establish bottoms in one fell swoop. We tend to bounce off of them, then we come back, retest to see whether the bottom is truly put in place. And if so, well then the market then tends to head its way higher. So i would say, maybe the worst is behind us, but be prepared for a retest as well. Liz you like caterpillar, ups, eqt. Give me a sense orrery, from oppenheimer what you see. The vince is calming down. Is this a oneday thing . This is taking a step back. Market come a lot over past week. They are still above the 200day moving average. Weve seen some stabilization there and weve seen it with signs of lessening downside intensity. Im very encouraged that the vix is showing signs of making that lower high, showing that sellers are losing their cool here or losing downside intensity. I think the longterm uptrend does continue. I think this is a terrific opportunity to be buying stocks. Uptrend still intact here. Liz you both see at least opportunity. Not too much fear. Sam, were up against the closing bell. Dennis gartman says volume is showing. More selling when we start to see moves here and it is nervewracking to him. Are you worried about the trade volume . I think investors are worried. Theyre wondering whether because we went 564 days a record since world war ii, without a 5 decline. [closing bell rings] market climbing a wall of worrying. Liz that, ari and sam. Sinned it over to after the bell. Melissa holding on to gains in the final moments of trading rebound this afternoon. The dow closing up almost 40 points. The second day without a 500 point swing. The dow and s p and nasdaq all closing in the green with the dow and s p ininching closer to positive territory for the year. Whoo, im melissa francis. David im david asman. This is after the bell. Glad you could join us today. More on the big Market Movers but here is what else were covering for you. It is a very busy tuesday. A jampacked day in d. C. Budget director Mick Mulvaney on the hot seat,