Officially named as his pick for secretary of state. Controversial because some say that tillerson has a waytoocozy relationship with the arab nations who produce oil. Can tillerson strike the right diplomatic balance with the saudis, iran, israel and all of those other nations . A fox business exclusive with the man who might know, the former u. S. Ambassador to saudi arabia, robert jordan. Plus, were on trump tower watch. Take a look at this, the most powerful man in the world meeting with the richest man in the world today, moth cofound microsoft cofounder bill gates taking the golden elevators to the top. President elect is expected, by the way, in this hour to depart for wisconsin for the continuation of his thank you tour. His rally will begin sometime this evening, but he will leave any moment from now so, of course, we have the fox business caravan cam at the ready. Plus, a poor diagnosis for qwest. That stock is on the move and not in a good way. Is it Mission Impossible to save viacom from a downgrade after cbs pulled the plug . And charlie breaks it on a top secret meeting between donald trump and an unnamed billionaire. I want to know about that. Wereless than an hour to the closing bell, were live from the floor of the New York Stock Exchange, lets start the countdown. Liz okay. Can you guys hear me . Take a look over my right shoulder. See that guy . Thats peter tuchman. He hates to be pointed out, but guess what . He says he will not hes the keeper of the dow 20,000 hats. Hes so mean. He says he wont bring them until were within, what, 20 points, peter . Got to be within 20 points . Yes, maam. Liz just give me the hat no. Cant do it yet. Liz so mean. [laughter] see, theyre egging him on here. Bring out the hats were at 19,914. We need to be at 19,980 before peter, grinch, bring out those hats. Let me get to breaking news [laughter] its about to happen at trump tower. At the moment Donald Trumps caravan is, as i said, expected to depart at any moment for that latest stop on his thank you tour. Hes headed to wisconsin. Well take you the minute that we see he is leaving n. The meantime, how about these markets . Either way with dow 20,000, yes, its far enough away at the moment that i can at least bring something closer, and that is a lifetime intraday high here. When i walked in here, trade arer danny said, you know what, liz . It could happen today, but then trader peter said not going to happen today, liz. So with just 57 minutes before we hear the closing bells, youve got to stay with me to see which trader is right. Either way already, yes, as i said, the dow and the s p and the nasdaq have all hit intraday highs, all three at this hour are racing to new record closes. You will witness that, any move to the upside. So as stocks soar, oddly so too does the vix or volatility index. This is that socalled fear index. Why is there fear in the markets . Were kind of asking around, and traders are telling me it could be investors are perhaps a bit nervous ahead of tomorrows Federal Reserve announcement on rate hikes. The meeting is today and tomorrow. The announcement comes tomorrow. Speaking of another big happening tomorrow, lets check out the big names of the tech world and what theyre doing right now, and then ill explain why this matters. You have apple, amazon, google, facebook, microsoft, all of them, i believe, are posting solid gains. Yes, indeed, they are moving higher anywhere from one to two and a third percent, nice move here. Ceos from those names are expected to meet with donald trump tomorrow at 2 p. M. Eastern. Well be watching that. Oddly, it kind of hits right at the same time we get the Federal Reserve announcement with janet yellen. You know what . Weve got the greatest camera crews on the planet at fox business, well be everywhere and make sure you see it all. All right, whats working right now for the bulls . Take a look at the is sectors that are really big winners since the day after election day, the 9th of november, and that would be energy. Weve told you about that. The financials, the big banks have been on a run, telecom extraordinarily strong. All three up doubledigit Percentage Points since the day after the election. But here are the laggards, because we always point out for our bears because they bet on certain leg asker laggards, Consumer Staples and utilities, theyve traded off. So which sector now will get us over the dow 20,000 hump . We bring et to the floor show, traders here at the New York Stock Exchange and the cme group. I grabbed tim anderson because i really want to know which sector you truly believe is going to get us to that point. Right now were at 19,915. I think its going to be technology, and they have not been a leader since the election. But the last couple days youve had the transports and the financials, which both have very strong gains, pulling back just a touch which is certainly not unwarranted. And today you have google up 3 , amazon up 2 , microsoft trading at an alltime high which includes the prices from the tech internet bubble 16 years ago. And, of course, trump is meeting with a number of tech executives tomorrow. Liz and depending on the news, i think, tim, that could very well be it. Larry, to you at the cme. Is there a sector you believe is really going to be the engine for that last 8ing 0, you know, 85 points or so . Yeah. 85 points. You know, i think tim hit the nail on the held. I do think technology. But right behind it whats going to support it, i think, are going to be the banks. The banks are going to continue to benefit. Theres been a slight accumulation of the Banking Industry especially since the election with, we have the yield curve steepening, rates are staying stable if not going higher. Very attractive valuations compared to defensives, compared to, you know, quality names out there. When you think of jpmorgan, goldman sachs, i think theyll be closely behind technology in getting us above 20,000. Liz tim, when the Federal Reserve tightens rates, let me just explain that to people, that makes banks very happy, doesnt it . Sure it does. It makes the yield curve a little steeper, and theres no doubt that a rate hike is totally in the market, and very shortly thereafter theyll be talking about the likelihood of when the next rate hike will come, whether it would be march or not until june. Liz larry, whats a buy here . What looks really cheap . The metals and the miners have been hammered. I keep waiting to see silver go down to itself low, if you miss that floor and you see that, it makes you wonder do you go in and get some of these metals on a cheaper opportunity . You know, i think you do. But not yet. I still think theres room for, especially gold, silver, platinum, there is room for those to go lower. If i was to buy any of those, i would go after platinum or palladium just to play on the auto sector which i still think has two to three years of a run in it. So thats what i would wait for, yep. Liz palladium goes in catalytic converters to help them con relater. Kevin mccullough, in my old days at cnbc, taught me that. Great to see you. Thank you very much. Tim, larry. Were up about 121 points for the dow. We need to see another 86 or 87 points, 84 or 5, depending to see that dow 20,000 level. All right, if youre not watching countdown to the closing bell tomorrow, im sorry, you dont care enough about your money. You have to be with me tomorrow because the fed Rate Decision is coming out 2 p. M. Eastern, and then Janet Yellens comments. She has that hourlong News Conference. That starts at 2 30 p. M. It usually runs about 40 minutes and then, boom, we hit the ground running right here from the floor of the New York Stock Exchange for those final minutes there, and we shall see what happens, if market embraces what is priced in, most likely, as a tiny rate hike of about a quarter of a percent. To the corner of 56th and fifth, midtown manhattan, we are officially on trump lets see, caravan watch. As the president elect is preparing to leave on that leg of his thank you tour any moment now, jetting off from Laguardia Airport in his jet to west alice, wisconsin. This on the heels of trumps official certified victory in the state after the recount effort affirmed his win in last months president ial election. And its been another very busy day with the president elect billionaire businessman meeting with a variety of other billionaires and millionaires, visitors including secretary of state nominee Rex Tillerson. How about this . Keeping up with kanye. Rapper kanye west showing up at trump tower to meet with donald trump. And the richest man in the world, microsoft cofounder bill gates. All right, lets quickly take you uptown to the golden elevators where congress mcshane has a breakdown Connell Mcshane has a breakdown of the meetings. A flurry of activity, connell, really. Reporter really has been all day long, liz. The the Rex Tillerson news being made official as secretary of state pick, thats probably the biggest but, certainly, to your point, not the only story of the day. Some senators have said theyll have questions about mr. Tillersons ties to russia. Hes done so much business willover the years, thats likely to come up. But the other news story according to trump transition sources that the former texas governor, rick perry, will be the pick to be energy secretary. Mr. Trump is said to be quite impressed by mr. Perrys economic record while he was the governor of texas in particular with regard to the Energy Sector which drove a lot of the Economic Growth there. Now, in the midst of all that, to your point, a lot of activity. Some big football stars, the old football star jim brown as an example, was here earlier today, part of a group that met with mr. Trump on issues in the Africanamerican Community as im sure just about everybody has heard, kanye west came speeding through the lobby this morning and met with mr. Trump. Then the two of them came down together. Trump said theyre just old friends, so make of that what you will. As for the bill gates meeting, they talked according to mr. Gates about innovation among other things which is quite interesting. Just a day ahead of the big tech summit thatll be held here tomorrow. So all of those things are happening. But for all of those things that are happening, theres also some news in what is not happening this week, and its important, liz, to take note of that. The News Conference we were set to coffer on thursday about mr. Trumps Business Issues has been delayed, so therell be no questions answered this by the president elect about potential conflicts of interest n. A series of tweets, mr. Trump saying, quote i will be leaving my businesses before january 20th so i can focus full time on the presidency. Two of my children, don and eric, plus executives will manage them. No new deals during my term or terms in office. Take note of that, liz, two of my children. Don and eric mentioned. Ivanka not, leading to speculation that she may be headed to washington with mr. Trump. We dont know yet, but stay tuned for an update on that. Back to you downtown. Liz jim brown who played for the you know, he doesnt meet with anybody, connell. The last thing he did where he came out from the shadows, because he really doesnt do a lot, was a documentary called glickman about Marty Glickman, the famed sportscaster. Thats amazing that he showed up, its pretty incredible. Reporter it was a big deal for him to do that documentary. I knew Marty Glickman very well from back in college, so i remember that. They went to the premiere and everything else. He wasnt walking very well, but it was interesting to see, got so much attention on the street, hey, is that jim brown . One of the greats, maybe the greatest ever, right . Liz right. Who doesnt get out there and say, look at me, im great. And you know im a browns fan. Connell, great to see you. Reporter i know. [laughter] liz hes like, i know. Loser. [laughter] keep it here, right here as always on fox business for special coverage of Donald Trumps thank you tour and visit to wisconsin, because lou dobbs, as ive said, is really working the hour. 79 p. M. Eastern, by the way, his show is number one, the highest rated Business Network show. Youve got to watch lou, theres a reason for that. And then, of course, followed by kennedy, special time, 9 p. M. Eastern. Okay. Dow jones industrials up 120 points, we stand at 19,916 with about 47 minutes before closing bell rings. Take a look at boeing. Listen, this is interesting. Its done a bit of a reversal. Earlier it hilt an alltime hit an alltime high, it is sliding slightly, down just under half a percent at the moment. It is, even with that tiny loss, the biggest drag on the dow 30. It actually had some good news, its raising its dividend, buying back 14 billion in stock. Up next, to the viacom saga filled with more drama than an Office Christmas party. The paramount hit likely to help the bottom line in the short term for paramount which, of course, is part of viacom. But long term this Company Needs to hook up with somebody. Right . Wall street Journal Media reporter keith hagey joining us exclusively with what the redstones who control the company need to do next. Next on countdown. Dont go away. Liz breaking news, let me take you to washington d. C. President obama has just finished signing what many consider to be the moonshot bill. It is called the 21st century cures act. Billions of dollars for new research treatments. Heres what this is going to do. Its going to expand medical research about, depending on how you look at it, a 6. 3 billion bill over ten years, all kinds of health initiatives, hopefully eventual cures for cancer, alzheimers, theyre really trying to inspire companies and individuals to do research that gets them there. And then, of course, there is the drug addiction part of this where they are trying desperately hard to really move forward and get people off the opiates addiction. Weve had such an increase in overdose deaths, specifically in states like new hampshire, ohio, alabama. So so much the 21st century cures could very well cure that. President obama signing it just moments ago. I need to get to qwest diagnostics. If you pull it right up here, i just want you to look up here. The fact that its up a third of a percent, thats basically defying all odds. Shares hit a 52week high despite reporting a Third Party Data breach that affected Health Records of about 34,000 people. The Clinical Lab Testing company did say its notified customers and its currently investigating the breach. Boy, when you get to those breaches, they can really hurt a company. So what youre seeing with the fact that its fighting it speaks volumes about at least the strength of the company right now. Speaking of strength, look at cbs. We move over here to this part of the post. Cbs is moving higher, up nearly a percent right now. At this time yesterday cbs was actually falling two hours earlier yesterday, it had been at about a twoandahalf year high. So its been volatile, but right now its continuing to move higher. Its pretty significant. Viacom, though, the company where cbs basically said we dont want anything to do with viacom. Take a look at viacom. Its struggling to at least stay in the green at the moment. But the fact that its struggling speaks volumes about whats really going on with that company. Slightly recovering today after tanking in yesterdays trade on the news that cbs and a merger with it is now officially in the dust. Even s p credit analysts are questioning viacoms creditworthiness as a standalone company. Can viacom, without a merger, stand alone . I want to bring in keach hagey, and what youve been breaking here, lets get to that. When the ratings agencies, including moodys, who said, you know what . If they merge with cbs, well raise their credit rating. Since it didnt happen, theyre not doing that. Does viacom have to get to the altar with some company . The other thing that happened yesterday is bob backish became the permanent ceo of viacom, and he has made a strong case that they can survive as a standalone company. We havent heard publicly, so in january i think well all be listening for what thats going to be. Surely, there are a lot of people out there expecting viacom to look to bulk up in some way. Liz okay. So youve got to look at this and say this Company Needs to do something, you know . Their paramount unit, they had the office party movie, its done well, but it still hasnt done as well as what it should be doing. La la land, i mean, im wondering, keach, what is your reporting showing as to the type of company . I know you dont want to name names. Reuters is naming a whole bunch of names of european operations, but what type of company should viacom be looking at . Well, one of the things, bakishhas been spending the last decade overseas, so he understands the overseas market a lot better maybe than even some of his competitors, so i think its very smart to look at some of the big satellite players in europe. Also digital is going to be a big focus. Viacom wasnt really able to pull the trigger on a big digital acquisition in the last few years. A lot of people are sort of expecting it to do Something Like that pretty soon. Liz bob bakish is now the ceo. He took over from the interim ceo, tom duy, and then tom dewey. Im wondering if he is the guy. He was running the International Network and Media Properties like nickelodeon europe and mtv. Is he really the guy . Well, Shari Redstone certainly thinks that he is. Folks close to her have said that she was really incredibly impressed by his short, so far, tenure, his strategy and ideas. So i think hes going to have a decent runway to prove himself. Liz keach, im going to ask a question that may be a little uncomfortable, but we cover not just the horse, but we cover the jockey, and i need to know who the crock key is at jockey is at viacom. Is sumner redstone, is he really engaged and running the show, or is it really all shari at this point . There have been so many questions, is he there . Is he competent . What is going on with the head of this giant that you have discovered and found out in your reporting . Well, we saw yesterday the letter from National Amusements had both sumner and sharis signatures on it, that was a pretty Interesting Data point. You know, hes 93 years old and not in great health. I dont think theres anything controversial about that and that shari has been playing a much more handson role over the last year, and she is a far more powerful figure than shes ever been in the past. Liz and so, therefore, we think what of this . That he is the one . And i dont mean to be indelicate here, but weve all read the stories about sumner redstone. Is somebody prompting him to do these things, or is he really deciding, okay, weve got to move forward, be in digital more heavily . So there is also a lawsuit are happening right now, actually a filing the same day, yesterday, where these same questions that have been circling for a year are continuing to circle, and there are folks that are trying to have him be deposed in the next few weeks. Thats very unlikely to happen, but we may all get an answer very soon. Liz keach, great to see you, great work on the reporting. Everybodys reading the journal on this one, so thank you so much. Thank you. Liz great to have you. Shes the one covering all the media and the stories, and these are fascinating, fascinating stories of leadership and drama. All right, live from the floor of the New York Stock Exchange with just, where can i find a clock, we see that we are just minutes away from the closing bell. Coming up, another billionaire not donald trump has walked through the floor and through the doors at the trump tower, had a meeting with donald trump. Who is that . Charlie gasparino knows. Hes about to break that story in just a moment. And we need to tell you that the president elect, as i mentioned, is expected to leave within this hour to head to wisconsin. So as i said, weve got our caravan car watch. Were on it, stay tuned. E. I just snapped a photo and got an estimate in 24 hours. My Insurance Company definitely doesnt have that. You can leave worry behind when liberty stands with you™ Liberty Mutual insurance. Liz we know this president elect donald trump is meeting with people he wants to put in his cabinet and with people he just wants to get advise from on wall street. Heres one. Former aig ceo, maurice, Hank Greenberg, met with donald trump at trump tower. We have the fox business exclusive. Charlie gasparino has the story. He must have gone in the backdoor. He is meeting with scaramucci. Looking to sell his hedge fund business, skybridge capital, join the Trump Administration in some economic post. Liz right. Hank greenberg, formerly of aig, long time chief executive of aig, runs something called the star companies. He is heavily involved in the Insurance Business in china. From what we understand his meeting with donald trump discussed trumps china policy. We should point out businessmen, american businessmen are really scared. People that run major companies, do significant business with china, that trump will start some sort of trade war or be at odds with chinese economic policy. Hess embrace of taiwan which, sort of nullified or at least walked back a little bit the one china policy where we officially recognized main Mainland China as opposed to taiwan and the Chinese Government has american businessmen scared. There is no businessman in America Today that knows more about china, been doing business there throughout his career. Hank is 90 years old. He has been running aig and star for decades. And doing a lot of business in china. One of the First American businessmen to significantly expand there in the insurance industry. From what i understand, they had a pretty frank discussion about chinese economic policy. Whether donald trump agrees with any of this or follows hanks lead, i cant tell you. The two men have not liked each other in the past. Trump openly attacked, he attacked Hank Greenberg on tv with particular business dealings, particularly greenberg coming under pressure from the new York Attorney general Eliot Spitzer at time. They generally dont get along. They did speak and meet yesterday. Greenburgs chaperone was millionaire usher, Anthony Scaramucci inside of trump tower. It is funny, a millionaire, scaramucci, beers a billionaire to see another billionaire, donald trump. Which is very interesting. Thats where we are right now. It is all about china policy. Hank is the best guy about that. Whether donald changes his rhetoric or not is whole another story. There is political element, liz. He got elected by going after china and trade. His core supporters support that. Not necessarily the guys he put around him, the business guys getting jobs there. That is where we are right now. Back to you. Liz hank has met with every chinese leader since Chaing Kaishek im sure. Charlie gasparino, 27 minutes before the closing bell rings. Were not at highs of the session. At the highs of the session we were up 157 points. We stand at 19,919. The president elect, he made his official pick for secretary of state. The leader of one of the biggest corporations on planet earth with a rolodex of global friends and leaders just as big, but as oils biggest man gets ready to be a diplomat, can he talk more than oil . Former u. S. Ambassador to saudi arabia, robert jordan, he knows Rex Tillerson. He has met with him. He has worked with him and worked to be a diplomat himself. Why he is the right man or not. Well get that in just a minute. Dont go away. How else do you think he gets around so fast . Take the reins this holiday and get the mercedesbenz youve always wanted during the winter event. Now lease the 2017 gla250 for 329 a month at your local mercedesbenz dealer. vo its the holidays at verizon, and the best deals are on the best network. With no surprise overages, you can use your data worry free and even carry over the data you dont use. And right now get four lines and 20 gigs for only 40 per line. Youll even get the Samsung Galaxy s7, the pixel phone by google, or the motoz droid for only 10 per month. Hurry, these offers end soon. Get the best deals and the best network, only on verizon. Every day starts better with a healthy smile. Start yours with Philips Sonicare, the no. 1 choice of dentists. Compared to oralb 7000, Philips Sonicare flexcare platinum removes significantly more plaque. This is the sound of Sonic Technology cleaning dee hear the difference . Get healthier gums in just 2 weeks vs a manual toothbrush and experience an amazing feel of clean. Innovation and you. Philips sonicare. Save now when you buy Philips Sonicare. Liz breaking news. Were about 74, 75 points away from dow 20,000. With about 22 minutes to go before the closing bell rings. We have this breaking news. Just spotted rushing through the trump tower lobby, executive producer of apprentice, you may know him from survivor, mark burnett. He ran in so quickly the cameras actually didnt catch him. They did see him. I promise we will catch the president elects departure any moment now to lagarde yaw airport. He is heading to wisconsin for the next leg of thinks thank you tour. Perhaps the most trump met with his choice for secretary of state, exxonmobil ceo Rex Tillerson. Trump emphasizing that the reason tillerson is his pick is because he has got such experience running a global company. And a global operation. So we thought, lets show people how global it is. Exxon has a massive reach, operating in more than 50, five0 countries worldwide. If tillerson did in the get past the confirmation hearings, he would be the first cabinet nominee since 1989 to not make it, to be tossed out. So we shall see. One of the nations exxon operates in a very big way is saudi arabia and that has caused a bit of controversy because he is so close with the leadership there. Let me bring in somebody who knows saudi arabia implicitly. He is the u. S. Ambassador to saudi arabia, formerly u. S. Ambassador robert jordan. Great to see you, ambassador. Hi, liz. Liz your gut reaction to the pick. It is controversial. What do you make of it . I think its a great pick. Rex tillerson is a terrific leader. He has a lot of experience around the world as you have said. I think it is important to remember that exxon is a massive company. They have about as many employees as the state department but their annual revenues are about four times what the budget is of the state department. Rex knows how to run a complex organization. I think the state department is in great need of management overhaul, of streamlining. I think he will be good at that. He will be good expressing his world vision to the leaders around the world. Liz i think that is an interesting point that people havent made. If not just that you need to be this diplomat. There is massive bureaucratic bloat that you feel he could really deal with. Look, yesterday we had the naysayers. Mitch mcconnell, the Senate Majority leader, you have to be careful about this today we have the supporters, everyone from what you would expect. Dick cheney, former Vice President or condoleeza rice to say this is a great guy but robert gates was an interesting defender here. He of course the former secretary of defense coming out saying Rex Tillerson is a great name. Here what is problematic, ambassador. He is extraordinarily close not just with middle eastern nations but with the gulf oil producers. He has a huge operation at exxonmobil in saudi arabia. In fact he has also got operations in many of these other stations. I begin to wonder how does that square with Donald Trumps stated support of israel . Well i think it squares pretty nicely actually. First of all the gulf oilproducing states are increasingly closer with israel because of their common enemy in iran. So i think that issue is almost a nonissue at this stage. But i will tell you also, liz, i saw exxonmobil negotiate with ali naimi, the Saudi Petroleum issue back at time i was ambassador over what was called the natural gas initiative. Those negotiations despite long history together, became extremely unpleasant and person and finally exxon walked away the from the negotiations because naimi was not wanting to give them rate of return they wanted. Despite you have done business with officials in country doesnt mean youre sending valentines. Liz this is video after in israel last night they took possession of two f35 fighter jets. Ash carter, our secretary of defense currently was right there, Benjamin Netanyahu all the leaders. This is extraordinaire hery relationship. Israel is the only real democracy in the middle east. My question dovetails, is it the enemy of my enemy is my friend . Because both saudi arabia and israel hate iran for all sorts of very legitimate reasons. What do they do, is he that guy, ambassador who can deal with iran, saudi arabia and israel and bring it all together . I think Rex Tillerson is completely capable of dealing with iran, saudi arabia, russia, you name it. And i think he will understand and has clearly understood through his career the importance of our relationship with israel. He is not some babe in the woods just come out and try to figure out what is going on. He is a savvy guy, fully understanding of American Foreign policy priorities. Liz lovely to have you, ambassador. I do hope youre right. That would be a wonderful thing. Well see if he is confirmed. Wonderful to have you, ambassador robert jordan, former u. S. Ambassador to saudi arabia, fox business exclusive. Closing bell six minutes away. We just moved higher on top of what we were before my interview with ambassador jordan. I have a question for you. What do abu dhabi, kuwait, qatar, despite the fact theyre middle east nations . They did something that sent crude oil prices jumping to a 17month closing high. Well tell you what it is and how you should be trading on this afternoon. Your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Liz okay. Less than 12 minutes before the closing bell rings. Yes, we are looking for dow 20,000. Do we see it . Do we see it . Not yet. Still at 19,920. Up 123 points. The real propel lant has a lot to do with energy and oil markets. Solid gains across the board for exxonmobil. Conocophillips, irmarathon oil. Test sore tesoro looks pretty decent. Oil settles at another 17month high. We have allstar traders. Teddy weisberg, very busy man right now, watching this final couple of names. Jeff flock at cme. Jeff, to you first. Got to talk about energy as sort of a mover today. Whether it pushes us over the edge of 20,000 tomorrow . Well you know, we really held today. It was a bit of a surprise because some people were getting second thoughts about the opec deal and will they really be able to hold. But then the iea came in with a report that says the Energy Market will be oil market in balance sometimes during the year. That will exhaust the glut. That helped things and as you pointed out pushed it to a close. I got to mention other oil names like pipeline names. You get to 50, 60, 70 oil, the u. S. Producers and pipelines really take off. Look at those like sem group, they had a good group today. Were up 19 in the last month. Enbridge is up. Enterprise products partners, thats up. All good news for u. S. Producers and companies that support them. Liz . Liz wonder, teddy as jeff talked about oil, oil is flat in the aftermarket. Traders closed out strong positions to get the gains. What should investors of stocks do at this moment as we are about 88 point, right, from dow 20,000 . From a big number, but just another number. I mean if youre long, in my opinion you have to stay long. If you dont own them, which unfortunately is the case for a lot of folks, especially going into the election liz is it too late . No, absolutely not too late. Think were probably overbought short term. Were you due for some sort of correction. Hopefully people get a chance to put money to work. No big deal. 150 million to buy. Liz art cashin, that is 150 million to buy on the close. Not a huge move to the upside here . No. But were closing almost at highs of the day. It is another terrific day. Is there a correction in here, you bet. Unfortunately they dont ring a bell. Liz we need the correction as entry point for those who missed this run up over the past month and a day or two. Exactly. Unfortunately it doesnt quite work that way. I think when the correction comes it will be sharp and it will be severe but it is not a selling opportunity. Most likely a buying opportunity. You heard that here. Jeff, thanks so much for joining us from the floor of the cme. Teddy weisberg, busiest man on the floor here. He is the best. Closing bell, were about nine, make that three, two, one, eight minutes to go before the closing bell rings. Dow holding on to gains. S p is really strong too. Up 15 points. Everybody here at the Stock Exchange is either talking up dow 20,000 or talking it down but you can not forget another massive market moving opportunity that is happening tomorrow. Im talking about the Federal Reserve policy announcement. And then the press conference that comes and takes place tomorrow. 2 00 p. M. Eastern is the announcement. 2 30 is the press conference. Anything can happen, and sometimes it is not good. What to watch out for next. Liz okay, so, guys, less than five minutes before the closing bell. You have claman, you have rothman, two california girls. We were going to talk about Market Movers. I say forget it. Rip it up. Liz talk about talk about what a tease this market is. Liz this market is a tease. 19,900. It was looking so promising earlier. I dont know what you think, liz, a lot of folks are not all that excited right now. Liz theyre so used to us walking lip of the canyon and pull back a little bit. They wont even pull out the dow 20,000 hats. Liz he is hoaring them. He is hoarding them. He is superstitious, before 20 point, right . Liz they have to be within 20 points of the dow. Were now up 110. Were 83 points now. I. I think that everybody is a little nervous maybe about tomorrow. We have the fed decision. We have to get over that hump. The overall question of you know, how far is this market, and has it come too far too fast. Liz claman and rothman fact. My dad is urologist. Her dad is orthodontist. In los angeles, kid. That is a tough job. You are from the right side of the tracks. I was from the wrong side. Liz thank you. As we keep a close eye on dow 20,000. Lets not forget Federal Reserve. We will know whether we saw a rate hike. I want to bring in two names we need to listen to right now. John lonski a and peter mall leave, one of barrons best of the best. Peter, call it here right now. You have 22 million under management. What are you doing ahead of fed announcement . Market has priced in 90 chance of Federal Reserve raising rights. Were looking next year. Were shortening duration on bonds and looking at impact on u. S. Market and other opportunities. Liz are you selling are buying, peter . Were buying on the energy side and Master Limited partnership. Even their secretary of state is energy related. Hard to paint a picture with all the variables where that can go wrong although of course always things like that can. We like Big Companies with financial backgrounds like berkshire hathaway. Liz john lonski, would this be a quarter of a point hike or maybe a 50 basispoint hike . If its a 50 basispoint hike im going to fall off my chair. I dont think that will be the case. Fed has no reason to shock the market in that manner. So Inflation Expectations are somewhat higher. They are still very wellcontained. Liz very wellcontained. What is the number one data point that our viewers should watch that you believe the fed is looking at right now . We have had quite an improvement in Business Sentiment as well as in consumer sentiment. Yet, we have no hard evidence that the rate of growth for Consumer Spending has improved measureably. Let me add, the start of each month the blue chip does a survey of 55 economists. They ask them what is real gdp growth going to be in 2017 . Prior to trumps election, the projected rate of real gdp growth was 2. 2 . After the election, one month later, that projected rate of real gdp growth werent all the way up to nearly 2. 3 . So there is a lot of skepticism as far as the underlying rate of growth for spending in this economy goes. Liz psychological bump. Let me just, i dont know if he can hear me. Peter, quickly on this moment, what are you advising investors to do . I would disagree with what was just said a little bit because prior to the election unemployment had dropped below 5 . [closing bell rings] once it gets substantially below, that you have wage inflation, that drives gdp. Liz you got to witness it. Lifetime closing high as well as for s p and nasdaq but the dow is the star. David, melissa, take it from here. David if youre watching the show, im sure you are in stocks and youre making money today, the dow ending just shy of 20,000. 90 points away from a brand new milestone at the close. This is the closest weve ever been to 20,000. Meantime well have to settle for the dow, s p 500 and nasdaq all closing at record highs. Melissa well take that. David not a bad settlement. Im david asman. Melissa im Melissa Francis this. Is after the bell. We have you covered on all the big Market Movers but here is what we have for you at this hour. Surprise, surprise, the president elect not only meeting with key cabinet considerations but also kan w
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