Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20161109

The lows became increasingly clear that donald trump would be the 45th president of the United States of america. But here we are with exactly 60 minutes before the closing bell rings, this gain is broadbased. The s p 500 tacking on 25 points at the moment. We are told that the president elect is backing his victory after acceptance speech that came during the wee hours of the morning. Donald trump reportedly spending the day out of the spotlight. Hes with family, reportedly speaking with staffers and no doubt answering calls and wellwishes from lots of friends, wellwishers and gop supporters. Trump is now the nations oldest elected president. Hell make his first visit to the white house to visit with president obama and what makes this country so great. Peaceful transition of power. President obama said earlier in the rose garden hes, quote, rooting for Donald Trumps success in uniting and leading the country. That speech followed Hillary Clintons concession speech in new york city. The former secretary of state calling the loss in the race for the white house painful but telling all of her supporters and followers, we owe donald trump an open mind and a chance to lead. So how will donald trump lead . Former governor hes a democrat and republican judd gregg of New Hampshire here on how the socalled experts got the prediction and donald trump will hold the Controversial Campaign promises. Among them, to build the wall at the border of mexico. We have former ambassador to mexico to iraq and to the United Nations John Negroponte. Hes here whether that wall has ever been realistic. Plus billionaire investor jeff greene, hes Donald Trumps neighbor in palm beach. Hes going to be talking about how businesses can prosper under a Trump Administration and how hes planning to invest around it. Were less than an hour to the closing bell and live from the floor of the New York Stock Exchange. Lets start the countdown. Reporter breaking news, the rally is oworries that the opening bell quickly fading away and what nearly was a 900point deficit has turned into a tripledigit rally. Here we are with the Dow Jones Industrial averages up 268 points, no fear at all. Its the volatility index which gives a sense of fear falling 20 as fierce of an armageddontype selloff have all but dissipated. No flight to quality trades, money coming out of government bonds, the safe haven trade, the 10year yield is hitting 2. 07 . That is the highest level weve seen since january 28th. The greenback, the dollar, having a solid session, erasing earlier losses, trading higher against a basket of currencies. Up three days in a row, so money buys a lot more if youre planning on take trips overseas, paris, go find jewelry and scarves and fancy stuff, the dollar is mightier today. A massive blow to the mexican peso. Weve been telling you the peso is a barometer to trumps chances, dropping to levels never before seen versus the u. S. Dollar. Now to the Federal Reserve. Is the fed finally ready to pull the trigger and hike rates . Fed funds futures are pricing in that scenario. About a 76. 3 chance of a december rate hike. Middle of december when they next meet. Why . Of course trumps likely heavy fiscal spending would boost Economic Growth and prompt the Federal Reserve to boost costs because we are no longer in an emergency economy or emergency situation. 56 minutes before the closing bell rings, stocks are flirting with record highs. John corpina, i grabbed you and said listen, why is there no fear, what happened overnight . Markets are firming up as we close into the opening. A buy program that came in close to the opening, investors saw the market plummet so much and realize its not that bad. Were not going to continue to see this sell coming into the opening. So we had buy interest come in and from there the market found its spot and rallied from there and staying at the levels ever since. Liz all right, art cashin said hes seeing selling on the close. People are taking profits, that would make sense. You dont want to get greedy, with a gain of 283 on the dow, would you advise that . I dont think so. I think our rally is going to continue, i dont think there is negative headlines overnight. As you said on the lead, president elect trump and president Obama Meeting tomorrow. Well get positive overall messages that come out of washington tomorrow. Bipartisan, this is a transition going to occur. I think that is positive to our economy and also to the overall fed. Liz what are you seeing on the flow of the floor. These guys get calls from big clients who say buy this, sell that. What are you seeing . Buying in many different sectors, you can see over time, there was a selloff leading into the weekend. Investors found an opportunity to buy stocks. We had a runup on monday. Liz lets tell people, the sectors like biotech, pharmaceuticals. High finance. Look at financials, financials have clearly come into the spotlight throughout this entire election, investors are feeling a little more confident. Liz bank of america, this is a 5. 75 gain. If you own big pharma, they are skyrocketing, Hillary Clinton had plans to institute price taps on expensive drugs so people werent hammered too much on that. I dont know what donald trump is going to do. Hes not the price control type of guy. Right, that gray cloud over that industry there has clearly moved away right now. Liz great to see you, john. John corpina. Busy day on the floor here. Minutebyminute moves here. 54 minutes before the closing bell rings. The dow holding off to 1. 5 gains, up 279 points. All the way around youre talking about a shock election win. Opponent who has conceded and country coming together to prepare for the next four years. Thats whats happening at this moment. And the wake of winning this historic election, donald trump is apparently keeping out of spotlight. Hunkered town in trump tower apartment just up the street with family and advisers, so what do we expect next . Peter barnes is right there. Hes outside trump tower. And tell us what the atmosphere is like outside and what they expect from the president elect. Right now, the security here is very high in a pinch with Donald Trumps victory last night. The new york police and secret service have moved in giant dump trucks right in front of trump tower, now the residence of the president elect. So security here very high. Also a circuslike atmosphere. Weve got supporters and of trump and protesters out here on the street. A lot of tourists taking pictures. The naked cowboy from times square made his way over here. As for the candidate, he is laying low. We did hear from him twice, both through social media. He tweeted out under the new handle, president elect of the United States, the real donald trump. Such a beautiful and important evening, the forgotten man and woman will never be forgotten again, well come together as never before. And sent a thankyou note to supporters america is a beacon of hope where the impossible is possible. We heard from House Speaker paul ryan on trumps victory. He had kept his distance from the president elect during this campaign but singing a different tune today. Listen. Look at it this way. Our House Majority is bigger than expected. We won more seats than anyone expected and much of that is thanks to donald trump. Donald trump provided the kind of coattails that got a lot of people over the finish line so that we could maintain our strong house and senate majorities. Reporter and among the other sights to see was a tshirt which said from a trump supporter which read president donald trump, the revenge of the deplorables. Liz . Liz theyll print anything in about 17 minutes here in new york city and get it out there on the street on the corner vendor areas. Peter barnes live from trump tower. Donald trump during the campaign made all kinds of promises. He said he would reform the tax code. He said he would repeal obamacare. He also said he would dismantle the regulation known as doddfrank which some believe has hemmed in banks abilities to make a lot of money. All of the potentials as president elect donald trump promises to attack in the first 100 days of Office Especially now with republicans controlling both the house and the senate. Charlie gasparino joins me on the most likely place for him to start. These things are sometimes glacial and paste. They take a long time to change. They do. Obamacare is not something you can just reverse in a minute. We know that. Building a wall between the u. S. And mexico is going to be very difficult and costly, but theres a ton of lowhanging fruit he can attack, and very positive for the economy. And i think last night when you saw the dow futures, you and i were tweeting and emailing, dow futures getting crushed. I was at a party where a lot of savvy traders were buying into the lowhanging fruit. You can do tax reform because you have the mechanisms and the plans in place, particularly from paul ryan, from steve moore one of the economic advisers in art laffer and larry kudlow, there is good agreement on the republicans who control the house and the senate and the presidency on how to lower Corporate Taxes. How to cut marginal rates, and then you also have the other thing which is regulations. Again, strong agreement from the republicans on getting rid of parts of doddfrank and maybe some of the environmental regulations. Heres the thing, liz, why the market is up and what you hear from traders. They need no buyin from the democrats. If you want to pass Corporate Tax reform right now. You want to lower tax, cut regulations, you can do it without having to give senator Elizabeth Warren a dime or any say. Thats the thing hanging over the markets, the republicans lost the senate, if they lost the senate, as a member of the banking committee, it would have been sharon brown, you know she would have had a lot of stroke on pochlts she has no stroke on policy. She is out of policy making equation and if you notice, bank stocks are all up today, and thats because the combination of getting rid of doddfrank and chief antagonist Elizabeth Warren is out of the picture. By the way, i found this last night, put it like, this men for trump. Can you see that . Liz yeah just so you know. I was a huge critic of him. I still remain bothered by how he ran his campaign. Ill still keep criticizing him as a reporter should do, the plans are progrowth. Liz ill quote neil cavuto, we of the picnic, we are always looking out for our viewers. We follow that rule to the t. Liz i know you do, charlie. A lot of people do. You do. Neil does. Liz are you kidding . I love that aqua degio that you wear. Thank you. Liz folks, you may have witnessed history here, the alltime record for the dow industrials, 47 minutes before the closing bell rings. Caterpillar, is a big earth mover among the leaders of the dow 30 on hopes that a President Trump will follow through on the promise to improve american infrastructure, bridges, tunnels, roadways. Caterpillar would be a beneficiary, and traders think thats one way that President Trump could he enomy, but what do the billionaire investors think . Billionaire investor jeff green whether all the optimism that the American Economy is about to blossom under a Trump Administration is for real . Live from the floor of the New York Stock Exchange on extraordinary trading day. Glad you are with us. Were coming right back. I have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo opens up airways to help improve breathing for a full 24 hours. Breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. Breo is not for people whose asthma is well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. Do not take breo more than prescribed. See your doctor if your asthma does not improve or gets worse. Ask your doctor if 24hour breo could be a missing piece for you. See if youre eligible for 12 months free at mybreo. Com. Liz folks, we need to get you some breaking news here. Nor than 100 firefighters are struggling to contain a massive blaze. This is at the former bethlehem steel site in pennsylvania. The fire was sparked when a hot lightbulb fell onto cardboard inside the building. Massive amounts of black smoke choking the area. Motorists are expected to stay away right now. This is a live picture. We need to make sure that everybody is safe at the moment. This comes as steel stocks surge after Donald Trumps victory. Steel, of course, turned into that rust belt sad story and ohio and pennsylvania, now we have u. S. Steel, a. K. Steel and commercial metals expected to benefit from trumps protectionist trade policies. Donald trump said he wanted to bring back mining and steel. We have this news out of the oil and gas industry, a new administration could mean new life for the Keystone Pipeline not left for dead here. Transcanada has just released a statement and saying its still fully committed to building the pipeline saying we are evaluating ways to engage the new administration on the benefits, the jobs and the tax revenues this project brings to the table. Let me bring in option Senior Market strategist Alan Knuckman standing by at the cme in chicago. Alan, people have been concerned when it comes to oil that there would be a further glut, he has pledged to open all federal land and water for fossil fuel exploration, what does that mean for water which trending higher right now . Reversal, threemonth lows and higher close, after a 15 drop. There are a lot of moving pieces obviously with whats happening today, but looking at oil, there are three key things im focusing on right now. Right now i think we want to focus on the infrastructure build, that could be positive for energy, and increased demand there. Then we want to look at, you talked about the interior, you know, that could be that could add supply, but there are a couple of other things i think could benefit this market. Number one, the iran deal, irans production could be curtailed if that situation changing dramatically, obviously, thats part of the reason weve seen the markets move lower in the last few months. Liz i need to interrupt you, hold that thought. We have breaking news here. The dow just bested the alltime closing high. We are now above it at the moment, 18,646. Seeing a gain of 312 points, the previous alltime closing high and may close below. That 18,636. Were above it right now. Alan, to your third point, go ahead. Third point gets back to stocks. Its been a long time but were going to have a positive growth quarter in the stock market. It didnt look like it but now that were finishing up this quarter, this is going to be positive growth. We havent seen that in a year quarter after quarter, and if we looked at 2017, theres continued stock market earnings growth. So thats a big deal weve pushed forward, and thats very much a positive sign for the economy and for corporations and obviously the use of crude oil. Liz Alan Knuckman at the cme. I dont know how crazy it is for you there, were hearing the decibels, very close to the highs of the session. S p up 29 points. When we started at this hour, the gain had been up 28 points. Here we go with a gain of 306 points at this moment for the dow industrials. Will we close here . That would be a brandnew alltime record high with the closing bell ringing in 38 minutes. Donald trumps victory putting World Leaders on notice. The uks theresa may, russias vladimir putin, Germanys Angela Merkel with Major Economic and Global Concerns to address with the new president. Former Bush National intelligence director, ambassador John Negroponte was the ambassador to mexico, too. So this adds a fascinating twist into the conversation. Hell tell us if the billionaire businessman is prepared for the challenges of the world stage . More countdown on the way. Were at record numbers right now. At least for the dow. Stay tuned. The pursuit of healthier. It begins from the second were born. Because, healthier doesnt happen all by itself. It needs to be earned every day. Using wellness to keep away illness. And believing a single life can be made better by millions of others. As a Health Services and Innovation Company optum powers modern healthcare by connecting every part of it. So while the world keeps searching for healthier were here to make healthier happen. Seconds can mean the difference between life and death. For partners in health, time is life. We have 18,000 people around the world. The microsoft cloud helps our entire staff stay connected and Work Together in real time to help those that need it. The ability to collaborate changes how we work. What we do together changes how we live. We will build a great wall and mexico will pay for the wall, 100 . Apple and all of these Great Companies will be making their product in the United States, not in china. Isis will be gone if im elected president and they will be gone quickly. They will be gone very, very quickly. Liz Donald Trumps repeated threats and promises he made while campaigning for presidency encouraged other Global Leaders and struck hearts of others particularly mexico where leaders there pushed back hard on Donald Trumps build the wall threat. Were joined by former ambassador to mexico, john negreanu, and former ambassador to the United Nations and iraq. Welcome, ambassador. What about that . Well start with each of these years. The build the wall chant became repetition over and over again of many of these rallies. What is your best guess whether we see that come to pass, the wall is built and mexico pays for it as donald trump said they would . Thank you. I certainly dont think he is that theyre going to pay for it, if further buildings does in fact go on. I to the contrary really think one of the important first things that mr. Trump could do would be to try to mend fences so to speak with the country of mexico. One of the traditions of new president s elect, have been to meet with the president of mexico during the transition period. That is every president since Ronald Reagan has done that i would hope that mr. Trump would consider doing that, as a way to initiate his relationship as president with the country of mexico. Liz well look we have a lot of fencemending to do. It also reflects on the question of his relationship with the Hispanic Community here in the United States, which he is also very anxious about some of the things that he has said. Liz no doubt, no doubt, ambassador. They, the pollsters among people who care deeply about a secure border. So there has to be a middle ground here, is there not . I think the middle ground is to have a secure border, have border patrol, have proper verification measures, but at the same time recognize this is one of the most important economic relationships that we have in the world. We have more than 500 billion worth of trade with mexico every year and its growing. Mexico is our second or Third Largest trading partner in the world. And i think as a businessman, mr. Trump very clearly must understand that. Liz now i need to get to iran, and i dont know how you feel about the Iran Nuclear Deal that the u. N. Security council including the United States, socalled big five had, how you felt about that deal, but, our viewers hate it. We hear from them consistently, and certainly israel has been very unhappy with it. Donald trump has been extraordinarily clear in saying it was just a horrible deal. You have been the ambassador to the United Nations. You cant just singlehandedly turn that around, can you . What kind of maneuvering could effect wait on that nuclear deal, when you also need other countries like china, russia, france to be a part of that decision . That is exactly the point because these other five countries that were involved approved the agreement as well, so it would be difficult for us to do this unilaterally. We could, if might not have much effect in china, russia, england and france, continue to i trade with iran and con minute make Economic Opportunities available to them. You could argue all we would be doing would be depriving ourselves of a Economic Opportunity that the other countries were taking advantage of. So i think he would want to proceed on that very carefully. Another possible approach would just be to have a look at the agreement, and see where it calls for verification, and various kinds of enforcement measures if ways can be found to tighten that up. That might be another avenue of approach for the president elect. Liz we were showing video of Nuclear Energy operations in iran but the real fear is of course nuclear weaponry. Were waiting to see more clarification of that. But one of the platforms Hillary Clinton stood upon that donald trump could not be the trusted with the Nuclear Codes and the nuclear button. How do you feel about that . You served in the bush administration. Well the American People have decided that question. They have elected him. He is now president elect and he is going to have to be trusted with the nuclear code. Im hoping he will choose to surround himself with talented, experienced and knowledgeable advisors. I think everybodys eyes should be trained on issue who is he going to pick to be secretary of defense, secretary of state and National Security advisor. Those are key positions in the National Security area. And im sure well be learning fairly soon who those choices are. Liz yeah. Well talk a little bit more about that coming up. Ambassador, thank you very much for joining us on awfully busy market day and news day. Appreciate the opportunity, thank you. Liz thank you. Anytime, ambassador john negreanu. The closing bell, were 28 minutes away. Were slightly below the alltime record close of 18,836. It wasnt quite 3 00 a. M. But donald trump got a call very early this morning and changed his life and shocked much of the world, but didnt anybody see it coming besides the core group of supporters . Former governors Phil Bredesen of tennessee and judd gregg on the trump trains run through the rust belt and beyond. Were live from the floor of the New York Stock Exchange where were about to possibly see an alltime record close on the dow. When a moment turns romantic, why pause to take a pill . Or stop to find a bathroom . Cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. Tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. Do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. Do not drink alcohol in excess. Side effects may include headache, upset stomach, delayed backache or muscle ache. To avoid longterm injury, get medical help right away for an erection lasting more than four hours. 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Rates are competitive, and theyre the only plans of their kind endorsed by aarp. Remember these plans let you apply all year round. So call today. Because nows the perfect time to learn more. Go long. [aand ive never seen a rocketge ship take off like this. [owner] im lindsey. Im the founder of ezpz. My accountant. Hes almost like my dad in this weird way. Yeah, im proud of you. You actually did some of the things i asked you to do the other day laughs . [owner] ha, ha, ha. [accountant] ive been able to say, okay. Heres the challenges youre going to have. And we can get it confirmed through our quickbooks. And what steps are we going to use to beat these obstacles before they really become a problem. [announcer] get 30 days free at quickbooks. Com liz okay, with the Dow Jones Industrial rally pretty significant still, up 25 points, by the way 275 points. S p jacking higher by 25 so pretty broadbased. So many stocks moving higher but we want to extract and present to you two stocks popping pretty darn wildly right now on the prospect of that trump victory. Here we have it. Donald trump as the 45th president of the United States, take it to sprint. Look at this move here. Sprint surging to a twoyear high right now, up more than 12 at this hour. Sprint is juking higher on couple of renewed hopes of maybe potential deal with it. Mobile which is also jumping, hold on one second, tmobile is up pretty significantly up 2. 30 at the moment, but also on the belief that is 52week high for tmobile. Also on the belief that a Trump Federal Communications Commission would be helpful to things like merger around spectrum deals. Now to twitter. Twitter riding wave of this election, certainly on trump victory. Twitters most fruitful users taking to microblogging world and so are investors. That is onemonth high for twitter. Tear of state Hillary Clinton took to the stage here in new york, when the sun was up with. She humbly congratulated trump and urged her supporrs to give him a chance. We have seen that our nation is more deeply divided than we thought. But i still believe in america. And i always will. If you do, we must accept this result and look to the future. Donald trump is going to be our president. We owe him an open mind and a chance to lead. Liz but from the faces of the crest fallen supporters in the audience, boy a lot of people got this wrong. Let us bring in two former governors, former democratic governor from tennessee which went to donald trump, Phil Bredesen and former republican governor of New Hampshire, which is still too close to call, judd gregg. Where do you think this is going to go, governor gregg, for New Hampshire . It is not clear but, it doesnt matter right now because our four electoral votes wont affect the outcome. Liz of course. They are 600 votes a i i a apart. It is pretty close race. Liz governor bredesen, everybody got it wrong when it came to the polls, exit polls, pollsters. They were all pricing in a Hillary Clinton victory. Where do you think they went wrong . Oh, i think there were awful lot of people, i see this as more of a cultural election than democrat versus republican. I think there were a lot of people wanted to send a message to the establishment. Donald trump was a slightly politicallyincorrect choice. I think a lot of people told pollsters the wrong answer or hung up on them. It just, i think it is not possible to poll them in that, in that kind of circumstance. Liz governor gregg, you also served in the senate as well and it is pretty obvious, and it is not just me saying this, paul ryan admitted that the gop rode into success to own all of congress on Donald Trumps coattails. Do you foresee an assistant, sort of unification when it comes to the house and senate and donald trump . There are republicans in both of those arms there that disagree with some of his policy . That is always going to be the case but i think you will see a lot of cooperation. In fact i think you will see quite early donald trump appoint very good people to senior positions in his cabinet. Theyre talking about taking folks like bob corker, the chairman of the Foreign Relations committee, maybe make him secretary of state. Talking about jeff sessions, two extraordinarily talented people. People are talked about for different positions. I think you see an administration that pulls people together that is the way it appears to me. His speech last night was the exact right tenor. If he maintains that tenor for four years, he actually will be a pretty successful president. I also want to congratulate secretary clinton. Her speech was very generous and very appropriate how our system should work. Liz absolutely, absolutely. Lets not forget president barack obama saying in the rose garden today same thing. I thought president obama made exceptionally good statement. Liz that is the way americans handle these things. God bless, america. Governor bredesen, are they planning not for 2020, the president ial election but 2018 for midterm elections . What is going on in their minds . What conversations are happening behind closed doors . People have to be assessing what this all meant. Obviously the public was not ready to buy what democrats were offering. We as a party need to rethink a lot what it is we represent to get new ideas on the table and reinvigorate the standing and i think creativity the party has shown some times in the past. I also think it is really important, you know, that we not try to do the same thing to President Trump that happened to president obama which is just a lot of people who were dedicated to do nothing other than making sure in obamas case he didnt succeed. I thought that was awful way and unamerican way to treat a president. From my part, i think a lot of democrats are prepared to do something very different with donald trump. Liz i hope so. It will be very interesting to see what happens, but we so appreciate both of you guys through this entire election cycle. You have joined us. You have given us your insights. We appreciate it. Governor Phil Bredesen, governor judd gregg of New Hampshire, thank you very much. Keep it right here. Youre welcome. Keep it here on fox business tonight. Weve got much more coverage. This is continue all story here. Lou dobbs on for extra hour tonight. I hope you join him starting at 7 00 p. M. Eastern. That is followed by special twohour edition of the intelligence report. Fox business, by the way, do i need to remind you, the Fastest Growing business Cable Network in all of cable, in america. Were coming right back. The dow is up 262 points. 15 1 2 minutes before the closing bell rings. Is it time to audit trumps economic plans to see what it means for business . Straight ahead were speaking exclusively to the ceo of accounting giant ernst young, Mark Weinberger, who is laying out exactly what he is telling his hundreds of ceo client on how they prepare for the transition to power. You totanobodys hurt, new car. But there will still be pain. It comes when your Insurance Company says theyll only pay threequarters of what it takes to replace it. What are you supposed to do . Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. We ship everything you atcan imagine. N, and everything we ship has something in common. Whether its expedited overnight. Or shipped around the globe,. 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This is a letter that is written by and signed by 1100 ceos here in america 1100 ceos signing the letter and congratulate the president elect, they are formally requesting that he begin healing and reconciliation with all of america. Right now we have the guy right now advising those companies how to reconcile with a trp presidency himselfs. Ernst young, ceo and chairman Mark Weinberger with a fox business exclusive. Im sure you represent and work with a lot of companies on this list, mark. What are you telling ceos in the wake of this brand new victory by donald trump . Liz, it is a time for healing. It is a time for the country to come together and business has a huge role to play here. We have to go up to advocate for our positions. We have to talk about what is important to create growth in america. We have to help identify people who can serve in the white house and 4,000 appointments that will happen over next 100 days or some we need to figure out how we can work with administration and congress to finally get legislation through that will help create jobs and grow the country. Liz what are you, i guess what i want to know, what are they most worried about . What do you hear when you you speak to all the ceos . Well, first of all, the ceos, along with almost every other Major Institution lost a lot of trust. We better learned lessons from brexit. We better learned lessons from this election, it has to be about inclusive growth, bringing everybody along, creating jobs and growth for all not just a few. The Business Community is willing to come up and advocate for our positions but we obviously must not lose sight of the fact we must work with every vested interest. When we look attacks reform, energy reform, we look at opportunities for infrastructure, we have to figure out and help the government to figure out how to do it right. That means coming up with ideas, not just asks. Liz mark, a lot of those things are really being embraced by the Business Community but what about the punitive tariffs donald trump said he would impose on any American Company that moves operations overseas . He references carrier and references ford very often. Today General Motors just laid off 2,000 people. We have auto stocks all moving lower on some fear that donald trump will start punishing them with tariffs if they move some plants overseas. Well, first of all, donald trump is focused on his growth. That is going to be important. Were moving from the election season to the governing season. We have to get congress to work with the president , House Republicans put together put together a comprehensive plan of tax reform, lower rates, more competitive system and help Companies Compete and hire people here in the United States. That is really what it is all about. It is also about tax cuts. He said he would implement the largest tack cut since Ronald Reagan of the Nonpartisan Office estimates that his tax plan would add 6. 2 trillion over 10 years to the federal debt. How do you and ceos square that . First of all we would agree tax reform has to be fiscally responsible. We cant just blow up the debt with at that whole new spending programs, whether on infrastructure or tax cuts and everything else. That has its own major negative ramifications for Interest Rates, for investment, for longterm stability of the country so we have to work with offsetting some tax cuts with other elimination of credits and incentives. We also have to look for spending cuts to offset some tax cuts. We have to look for progrowth tax cuts that create jobs that will provide more revenue to the government. All of these things, liz, will be on the table. It is very early in the process. First of all, they have to get people in place who can been negotiating. Were ready. We have ideas. We want to talk to the administration. Thats what were looking forward to. Liz so nice to see you, mark. Im sure youre busy guy. Your phone is ringing off the hook. You have operations in 150 countries. There are whole kinds of interests to discuss. Thanks for being here. Always great to talk to you, liz. Liz anytime, Mark Weinberger of ernst young. He is ceo. Seven minutes to go before the closing bell rings. The dow is 40 points away from alltime record close. Right now a gain of 260. Either way i know our viewers long the market will take it. As we wrap up this roller coaster session you have got to be with me as we talk with billionaire investor jeff green. He joins us live from florida. He literally lives down the block from Donald Trumps maura lago. He is neighbors with our president elects. How he is investing right now . Did you know theres a way to save up to 95 on your prescriptions . Introducing blink health. Blink has negotiated some of the lowest prices so you can get your same medication, at your same pharmacy, for a lower price. Just go to blinkhealth. Com, pay for your prescription, and pick up at your regular pharmacy. Blink is accepted at nearly every pharmacy nationwide. Go to blinkhealth. Com and get 10 off your first purchase, promo code tv. See me. See me. Dont stare at me. See me. See me. See me to know that psoriasis is just something that i have. Im not contagious. See me to know that. I wont stop until i find what works. Discover cosentyx, a different kind of medicine for moderate to severe plaque psoriasis. Proven to help the majority of people find clear or almost clear skin. 8 out of 10 people saw 75 skin clearance at 3 months. While the majority saw 90 clearance. Do not use if you are allergic to cosentyx. Before starting, you should be tested for tuberculosis. An increased risk of infections and lowered ability to fight them may occur. Tell your doctor if you have an infection or symptoms. Such as fever, sweats, chills, muscle aches or cough. Or if you have received a vaccine or plan to. If you have inflammatory bowel disease, tell your doctor if symptoms develop or worsen. Serious allergic reactions may occur. See me. See me. See me. On my way. Find clear skin. And a clearer path forward. For a different kind of medicine, ask your dermatologist about cosentyx. Liz how is a 24hour,0 swing . That is what the vix, fear index was showing. It was up 40 overnight. It is down 20 . Air is coming down. No pressure. Three minutes before the closing bell rings. The dow is up about 254 points. Let me tell you right now, investors and Business People alike are making investment moves as we get closer to president elect donald trump taking oval office. Joining me somebody that lives two doors down from donald trump in palm beach. He is billionaire investor jeff green, who made a fortune shorting subprime a couple years ago. Jeff, what are you doing on a day like this with a donald Trump Presidency on the horizon . Im staying where i am, liz. If you look at some of the smart people on wall street, Goldman Sachs sees s p at 2100 yearend. Were above that right now. A great day. A great relief rally. Reality is, these infrastructure programs, the kind of thing the Trump Administration may put in place will take a long time to get going. We have to look realistically. There are he had had winds hitting economy right now. You are not just an investor youre a real estate magnate in palm beach and california. How will real estate look under the real estate president . Interesting you enough, the reason reels estate done so well over the last seven or eight years because we havent had a functional washington. What happened the only game in town is the fed. When you have world of zero Interest Rates last eight years and 4 trillion added to the fed balance sheet, of course real estate prices will go up. If donald trump can repatriate 2 trillion from Foreign Corporation Bank Accounts and get Infrastructure Spending going on all over the country, what will that do . That could create real wage inflation, which we need. But it also will create Inflation Higher Interest Rates and lower asset prices. Donald trump may be bad for real estate prices, stocks price assets and that have shot up in the bubble economy weve had. Liz as we come up to the closing bell you have voted democrat most of your life but billionaire businessman. I supported Hillary Clinton as democrat. Im delighted donald trump is alternative. He is a great guy. I know donald trump. I only hope the democrats do exact opposite when republican did, when Mitch Mcconnell and john boehner wanted barack obama to be oneterm president. Lets hope donald trump exceeds all of them. Liz that is what fill bredesen of tennessee said. Great to see you. Jeff green, billionaire investor. Donald trumps neighbor. [closingel bl rings] folks who would have thought two a. M. , dow future tankinghundred points. We see the markets in place by 252 points. What a turnaround. David and melissa. Take it for after the bell. David we had political whiplash. Now we have wall street whiplash. You remember that major selloff . Forget about it. Were nearing alltime record high. Melissa we should have bought. Said that about 3 00 a. M. David cant buy off hours. At any rate, we will advise you in this hour what you can do with your money. Stocks are staging a huge comeback with all three major averages rallying into the close. Im david asman. Melissa im melissa francis. This is after the bell. Heres what we have for you this hour. The markets and world responding to whaso