Regulations. We have a look at an industry burned just as bad as coal. The shocking sector that saw business slashed in half and the somewhat complicated road ahead for untangling the red tape. A cold relationship growing warmer just as another involving a closer ally freezes up. Were talking to two men on the front lines of key negotiations with both russia and mexico under president s clinton, bush and obama, as President Trump looks to turn policies of the past on their heads. And snap, inc. , a 20 billion price tag and buzz abounds for what could be the biggest ipo in five years can. This unicorn take off like facebook or will it go the way of twitter, who despite the love of President Trump cant get Business Model to fly. Social media guru Pete Schneider makes the call on whether you should snap to attention and buy the snap ipo. Plus a possible new schism brewing at the white house over border adjustment tax between what President Trump is saying and one of his top key economic adviser says saying. Bret baier the reading of the tea leaves of Berkshire Hathaway ahead of Warren Buffetts q3 earnings. So glad youre with me. Lets start the countdown. Okay, a couple of breaking news stories here. Let me get to this, inside the white house now, the president of peru is now inside the white house with the president. He is the first latin american head of state to visit, and you can bet he will have plenty of hot topics to talk to the president about from trade to immigration. By the way, if you dont know about him, he is u. S. Educated, former wall street banker but not happy with what he perceives to be protectionist moves by President Trump and his administration. If we get anything on this meeting, were going to give it to you live. Moves to the markets, the dow poised to snap streak of ten record closes in a row. We can see it is down 56 points. The s p 500 having its worst day of the month. Its down about four points, earlier down ten. Were off the lose here and the nasdaq is down sev points. J. C. Penney not in passionate this hour. The Embattled Department store chain plans to shudder as many as 140 stores to transform the remaining locations into shopping destinations. As the stock drops four, nearly 5 , what does the destination thing mean . For pickup of online items that were ordered at j. C. Penney. Kind of just like a warehouse. Who knows . Mean time, Jailhouse Rock for prison stocks. Both privately run Prison Companies stand to benefit as the Justice Department reverses president obamas earlier order to phase out private contractors for federalrun correctional centers. Both of them moving higher by under 2 to just under 3 . Okay, i need to tell you this, whatever happens with the markets today, the dow will make history again. So this record streak of ten in a row weve been seeing will either keep roaring owhich will be another record or it will snap. Ten Straight Days of new closing highs for the dow going back to february 9th. The trump bump since election day has powered 13. 5 gains for the dow posted 10. 5 for the s p 500 and nearly 12. 5 for the nasdaq. One nyse trader who is a frequent guest morphed late yesterday from bull to bear. In morning notes, scott redler said that yesterday, hes got a spidey sense up, tonight get out of positions, and it was not an easy day. He had trouble getting out of loose positions, so that made him nervous and he has lowest equity exposure since the s p reclaimed 2147 after the election. Were at 2325 right now. Lets see who else might be feeling fear on the floor or not. Teddy weisberg at the nyse, ira epstein at lennon and associates. Something spooked young scott redler, but a young pup. Hes been right on a lot of things. Do you agree . Are you getting a cold foot or toe or two now that stocks have had such a good one . Even a broken clock is right twice a day if you make the prediction long enough. The markets been on a tear since the election. The electionas a gamechanger, liz, were allowed to give a little back. One soft day doesnt make a trend. Interest rates are lower today, Energy Sector is weak, a lot of the loss is in goldman, the financials are weak, contrary to the Interest Rate move. I would certainly not throw the baby out with the bathwater. The lines of least resistance for the market remain higher, not lower. Liz okay, to ira epstein, very bullish. Do you get any sense, like scott redler has, that its time to go more to cash . Yeah, i agree with scott. Liz really . Were getting to a point, yeah, for the First Time Since the election day. And the reason is im starting to notice technically speaking, this is on the charts, outside day up on the s p yesterday, you took that day out today. If you take a look at the russell which ive been friendly on, its starting to roll to the downside. Some of this is back and forth action, but i think money is moving to gold and other markets like that right now because of europe, and i think traders should be taking a look at the 200day moving average of closes in gold and silver. Youre over it in silver. Gold is about 20 away from it. If gold can close over that, i think its a gamechanger. So im starting to look at other areas and why are those markets going up . Yes, its european elections and the populist votes, were scared of france and the netherlands pulling out of the eu. Liz teddy laid out a litany and i know wall street climbs the wall of worry. Certainly has relatively recently i think picking tops is no different than picking bottoms. Markets are allowed to have technical reverses in the trend. If this was a down market, the rallies will be sharp and brief. Were in a bull market, the selloff could be sharp and painful. Any dip is a buying opportunity, not a selling opportunity. Liz you two have 9,000 years of experience. At best. Liz with the dow down 59 points, we could see this record come to an end. Teddy, ira, thank you. Stay tuned to fox business tonight, 8 00 p. M. Eastern. A new episode of wall street week. Dissecting the markets record run with martin sass and Morgan Stanleys daniel skelli. A frenetic day at capitol, the president delivered remarks at cpac followed by white house visit with former rival Ohio Governor john kasich. He just signed executive order on more specific regulatory reform. In essence what that, that hes signing will do, will place regulation officers and socalled task forces within federal agency embedded to slash regulation physical they dont, quote, make life better or safer for americans. That sounds very logical, but it might not be a simple question to answer. Take a look at tanning booth industry. Feeling the burn of a 10 tax on services instituted a few years back as part of obamacare because of the question of whether these tanning beds might cause skin cancer. Tanning salon owners say it crushed the industry. Heres some numbers, before the tax and tax is not a regulation but other regulations put in. There were 18,000 salons, couple of years later, just 9,000 are left. The industry says 81,000 tanning jobs have been lost. Blake burman standing by live outside the white house, not getting a suntan, all jokes aside, the president said simple question, if a regulation doesnt make life safer or better for americans, got to go. Just using the tanning salon, there are shades of gray with a cancer concern or who knows what . Its 75 degrees here, liz, i aint complaining. I feel like im back home in miami. Liz almost. Almost, almost, right. The president signed this executive order, during the noon hour today. Heres what ill draw your attention to. You remember at the start of the administration, he has made regulations in repealing that key focus throughout. At the beginning there was targeting the Affordable Care act and in the last couple of weeks, targeted doddfrank. What have you today is a blanket for all of the departments and agencies under the federal government. This is federal governmentwide regulatory reform. Theyre telling all of the agencies, look, create a task force, go through the agency and pick out what might be too costly. What might need to be changed . What doesnt work . What isnt necessary and come back to us with that. No longer about the Affordable Care act or doddfrank spread across the government. Take a listen to President Trump as he signed the executive order earlier this afternoon. Every regulation should have to pass a simple test. Does it make life better or safer for American Workers or consumers . If the answer is no, we will be getting rid of it and getting rid of it quickly. Reporter and liz here at the white house, the Trump Administration contends there was nearly 900 billion in costs of regulations during the obama administration. Here now, theyre clearly trying to shave that as much as they can, liz. Liz absolutely, and certainly some of the regulation has been onerous and ridiculous. But, again, a tougher question when it comes to things like safety. Blake, there is this breaking news, and you touched upon it right before the top of the hour. We need a little more context if you have it. No press briefing with sean spicer but a gaggle that apparently a bunch of media outlets, including fox business, were disinvited from. A bunch of networks were left out including cnn and a few others. What happened . People got touchy here. Reporter this is a touchy issue at the white house at this moment, liz. There was supposed to be oncamera briefing that you see every single day at about this time. That was changed at noon to what is known as a gaggle which is reporters around the subject, in this case the press secretary, and its captured, in this case audio, and that was held back in sean spicers office. Not everybody was invited to that. His office is smaller, so when some members of the media, including myself showed up to go this gaggle, which is our tv phrase, we were told, look, it is just the pool. The folks within television, print, radio, who are designated to spread out notes, and certain outlets. Youve got other folks saying hey, why arent we invited . And all of this goes, as you saw with the president at cpac, pointed the finger at media outlets. Liz . Liz yeah, well, he basically called the press very bad names and continues that line. So i guess when you superimpose it over, that people are wondering are you shutting out . Reporter its a perception issue if nothing else. They contend it is normal, they opened it up. The president spoke today, and thats why they did what they did. Wh you say youre in, youre out. Thats when it is contentious. Liz thank you. Closing bell 47 minutes away, with the dow down 55. One minute you get the credit, the next the blame. Goldman sachs, lower right, it is the leader since election day, the laggard today. Yanking a bunch of points off the Dow Jones Industrials, lower by 4. 30. Apple shares under pressure, down a third of a percent. Heres the story you need to know, there is a video, were not showing it to you because its from unverified twitter account, it showed an iphone 7 spontaneously emitting smoke. Well that spooked investors who have been haunted by samsungs exploding galaxy 7 debacle. The shares took a full percent drop. Right now slightly recovered. Down half a percent and were still looking on the video and trying to verify it. Apple is in touch with the customer involved in the video post. And remember this just over two weeks ago . Lowering the overall tax burden on American Business is big league. Were going to be announcing something i would say over the next two or three weeks that will be phenomenal. Liz well, the three week mark is just six days away. Can President Trump deliver on the nuts and bolts of that promise that really is the one thing that helped spark the dows ten day record run which looks to be about to lose. Fox news bret baier what hes hearing inside the beltway when it comes to one of the most taxing matters literally for americas biggest businesses and the market. Bret and countdown are coming right back. Dont move. Liz there is no doubt that the market has gone on this tenday record run for the dow because President Trump started to make tax promises. He said tax reform would be phenomenal and said we would get it in a couple of weeks. Two to three weeks. That was two weeks ago, february 9th and said he would introduce this, and use the word phenomenal tax plan. We wanted to show you since he said, that while february 9th. Look what happened with stocks at 20,180 and today at 20,754. Stocks at an alltime high. Here we are end of february with little detail to show for the prom. Trumps chief economic adviser gary cohn also breaking his view of the border tax adjustments just 24 hours after President Trump indicated he supported it. Im joined by bret baier, you can disentangle this over fox news in d. C. . I telyou, l, it is confusing, we dont have many of the details or most of the details of this tax plan, but remember, we had this joint address to congress coming up on tuesday night for President Trump. We are expecting that the tax reform plan or part of it is going to be in that speech. Weve been told by Administration Officials and the president himself frankly that we would hear details about the tax reform package in the early part or mid part of march. As far as the border adjustment, the border tashgs from everything im hearing on capitol hill, liz, this is running into a lot of headwinds, and it is mainly republicans who are splitting here and dont really like this idea at all. Theyre getting a lot of lobbying effort from places like walmart and target liz okay, let me interrupt you, bret, were showing video of the president signing things and over his right shoulder is Andrew Liveres of dow chemical who told neil he agrees with the border tax, levied on imported goods and parts but not levied on exported parts, and yesterday during this hour, a reuters interview with donald trump broke and he specifically said this will bring factories back to the united states. Is gary cohn who supposedly according to axios said to other ceos the white house does not support house gop border taxes version, is there confusion or disagreement . Yes, and there is not i truly believe that the border adjustment, the border tax may be a bargaining chip. Liz hold on one second, sorry to interrupt. We have the president meeting with the president of peru, hold out, bret, one second. Thank you very much, everybody, its a great honor to have president chuzinski with us from peru. We have great relationships, better than before, and i have known him for quite awhile through reading about the work hes done, and i believe hes here to get an award at princeton for what, explain, please . Being an alumnus who did okay, i guess. Yes, its very okay. Your daughter goes to alex the other daughter, suzy, she wants to study medicine. And i assume shes very proud of you getting the big award yesterday. And alex went to columbia. Thats great. Good students, great children. A very, very special man and honor to have him in washington at the white house, and were going to talk some business. I understand theyre going to be buying quite a bit of our military, some of our military vehicles and they are great vehicles, i just looked at it, and were approving it, and use them well. And if youd like to say something, mr. President , please. Im happy to be in washington, i lived here for a while. I lived in new york. We greatly respect the u. S. , we have excellent relations and latin America Needs to grow more, and were gog to talk about how to do. That maybe you have a few ideas . I guess i do. I guess i do. We have a problem with venezuela. Theyre doing very poorly, and so well be talking about a lot of Different Things and thank you all for being here. Thank you. Thank you. Liz President Trump meeting with pedro kuczynski, the president of peru. That looked like a cordial discussion. The president of peru has not been too happy with what he perceives to be protectionist moves . Right, and some of the leaders are making the feelings clear, obviously when the cameras leave. But President Trump has reached out to a number of leaders, and has had conversations really since the beginning of taking office, and many of them are filing in here to meet him directly. He has the ability as we saw in the ceo meeting the other way, to hold a room, to obviously persuade people and to kind of work a room, if you will. And i think that there are going to be elements that get changed in trump Foreign Policy based on some of his, some of his meetings that he hears directly from leaders. Liz well, hes met with al gore, met andrew cuomo, the governor of new york. He has met with Robert Kennedy jr. People that would be normally perceived to be true rivals, and the fact theres even a dialogue i think should calm some people who are concerned, because he does listen. And he has been shown to change his mind which brings me back to the border tax and couple of weeks ago here, said its too confusing, not sure about it. Now he says he likes it again, back to the gary cohn issue. Overall, as we look at whats going on, we have to turn to the democrats. Democrats have a real horse race to run the Democratic National party and the committee, and you had one of them, jamie harrison, the chairman of South Carolina dropping out of the race for dncs chair, and in doing so, he endorsed former labor secretary tom perez and not Keith Ellison the minnesota congressman whos been somewhat controversial. Who wins this battle . Are you hearing anything inside the beltway . Well, this is going to be a horse race tomorrow in atlanta. The going bet is that ellison is right there and that he could pull this off. The fire in the Democratic Party is on the left. It is on the Elizabeth Warrenbernie Sanders side of the party, and i think that the party is still trying find itself. It is a party in the wilderness of sorts. As the leadership is no longer, obviously, in the house, the senate, the white house, and they are going to have to find a message that identifies especially with those states where now President Trump won in the rust belt. Liz well, there is controversy about Keith Ellison. We know tom perez well, hes been on the show many, many times, and hes hardly a right type of far right of the Democratic Party. Sure, hes more center than ellison. Liz he may gain velocity between now and the vote. Thank you so much. Bret baier, special report. Something is happening down at the nyse, usually it is closed. It is running a trial, a trial run ahead of snaps expected listing on march 2nd, and so what they said was we better practice this because you may get something ugly like what you see on the screen, thats me and Charlie Gasparino doing snapchat video. Just four trading days ahead of the biggest social media ipo in years, and clearly Charlie Gasparino and i are more excited to see how things play out. Cover the childrens eyes, but as the Company Behind frightening videos like this really worth 20 billion . Let me bring in Fox News Contributor and ceo of disrupter capital peter schneider, a guru for old School Companies who are trying to get better social media plans. Let me start with the easy question, is what you saw, there which is pretty much what i see snapchat does, enough to value a couple at 20 billion . I think so, maybe you and i dont see it, the 18 to 35yearold group does. So you know, priced at anywhere between 14 to 16 a share, 20 billion valuation, yeah, i think its worth it. Liz im going to push back on something you said thats been growing like gangbusters. Yes, it has since it launched a couple of years ago. The q4 daily active users added seem to be the slowest in a couple of years. In fact it added 50 million users last year but five million in q4. To me you dumped out when we had the pink afros on there. Me and charlie are having fun. I looked at that and said wait a minute, wait a minute, how are they going to further engage the young whippersnappers that they already have like my 15yearold daughter who loves it and does the snap stories. Engage them and make money off them . Sure, the key thing here is theyve continued to grow. They maybe grew at a lower rate when facebook and instagram, the big 800pound gorillas in the space took them on head first because snapchat has been beating them for the past five years. Look, you can have coke and pepsi, market pressures in there. They will continue to innovate and the entire space which is mobile advertisi is going to grow three fold in the next four years from 66 billion to over 200 billion. Thats going to be a boondoggle for snap. Liz ill tell you who does it really well is instagram, because they put in these ads that look like really pretty pictures that look like instagram posts and makes you look at them, but i dont know how snapchat is going to do it. Are they as smart as Mark Zuckerberg of facebook . Who imitation is the greatest form of flattery, facebook is trying to copy what snapchat does, they know its just as easy to lose lead blink of an eye. Exactly it. Evan smarter than zuckerberg . Who knows. I doubt it. He and his team have been great innovators over five years. Liz final question, this thing goes public, march 1st it prices, march 2nd it goes public. Do you tell viewers to buy that stock . No one should buy into an ipo. You know that, liz. Liz i do. If youre willing to give up 50 to make four times your money. Get into it my gosh. That, and i cant decide whats scarier, that or the picture of charlie and me with the fuzzy pink hair and the dog faces, and thats Charlie Holding up his alligator. Who knows . And then the bubbles. That was a new one that we saw. So they are doing Different Things, there was an Abraham Lincoln one we couldnt find because it changes so quickly. Pete snyder, you never change, you are great. Thank you for joining us. Right back at you. Liz the closing bell is 30 minutes away. The dow just lost 20 points off es, down aut 3points right now. Politics, as they sa makes strange bedfellows, as the president takes aim at longstanding alliances and bitter battles of the past. Both with deep economic and security consequences. Will the u. S. Still come out on top . Former ambassador of new mexico and former u. S. Ambassador to russia are here. Countdown coming right back. Just like the people who own them, every business is different. But every one of those businesses will need legal help as they age and grow. Whether it be help starting your business, vendor contracts or employment agreements. Legalzooms network of attorneys can help you every step of the way so you can focus on what you do. Well handle the legal stuff that comes up along the way. Legalzoom. Legal help is here. Reporter im adam shapiro on the floor of the New York Stock Exchange with this fox business brief. The dow is down 30 points. S p 500 down 2 points. New home sales bounced back in january, rising 3. 7 in the according to the commerce department. Shares of foot locker taking a leg up. The shoe chain beating expectations thanks to strong u. S. Sales. Google, the tech firm says the Ride Hailing Company stole their technology after acquiring wamo. Several emails are accused of downloading private information before they left. We look at President Trumps Foreign Policy and it is impact on your money. More countdown to the closing bell is straight ahead. Liz you know this already. President trump has very unconventional way of doing things, which is were people voted him into office. Right now his focus is tearing up currently two policies toward two different nations. First, he is repairing the ears sy relationship the u. S. Has with russia while then conversely ripping apart the nafta trade agreement and u. S. Ties with mexico. How will President Trumps unconventional plan shape u. S. Policy and economy in the future. With me now, two men who have been on the front lines, in the trenches in both of those countries. Former u. N. Ambassador to mexico and secretary of state. And former u. S. Ambassador to russia and former nato deputy general, ambassador. Start with you and russia. This relationship, President Trump is steadfast saying he does not see a downside in warming up relations and having decent relations with russia, however, russia at best has been sketchy on trust. What should the u. S. Relationship as you see it look like with us and russia. Well, it is absolutely fine to try to improve the relationship because you dont want a relationship as risky as it is right now but you also have to approach the relationship with very open eyes. We have a russia has tried to detablize our democracy, it is doing the same thing now to france, to germany. Its carried out some naked aggression against its neighbors and occupying part of the ukrainian territory. So we need to try to improve the rip but also try to solve the problems which made the relationship so contentious. Liz i would like to jump in to ask you, there have been these leaks, President Trump talked about it at cpac, leaks what he called classified information about whether certain operatives within the Trump Campaign during the Election Campaign had reached out and had some type of touch with senior russian Intelligence Officers during the campaign and apparently Reince Priebus reached out and, chief of staff asked comey of the fbi to please strike this stuff down because even jim comey said there was not a legitimacy to these stories but the fbis comey said, he doesnt do that. He doesnt does every fire. The fact there even these conversations, does that concern you . It does, not so much because of whether it was proper or improper. I think that is for other people to judge but i think the administration unfortunately showing tremendous skill raising more suspicions about its approach to russia. They should just let these investigations run their course and theyre important. We need to know exactly what the russians did, how they did it, but i think it is better to concentrate how do we define a relationship with russia that can actually work, can help get Russian Forces out of eastern ukraine, that can convince the russians that it is better to work with us rather than trying to undermine our democratic institutions. So, the team is now forming. We have a little bit of a hiccup at the nsc now we have general mcmaster, mattis, tillerson need to give the president their best advice how to improve relations with russia but defend our principles at the same time. Liz certainly mattis has not been as warm toward russia as President Trump has. To ambassador, to ambassador of mexico, deep strings, total opposite, deep strains, there are deep strains between the former friendly countries the u. S. And mexico. What should that relationship look like . Because donald tmp says we need to tear up nafta, but i would say Rex Tillerson secretary of state said we need to modernize nafta. Do you he see any problems modernizing something that is 24 years old . There is nothing wrong with modernization and mexico would like to see some things put into nafta. We would like to see some changes. Youre absolutely right, it is 24, 25 years old. Think of our economies a quarter of a century ago in relation to telecom, i. T. And what have you. So there is room for movement. Its just weird that were, that President Trump is going after our closest neighbor, a good friend, extraordinarily important trading partner, while at the same time adopting a very different approach to what is clearly our adversary russia. Liz yeah, that is why we thought it is brilliant to have both of you, former ambassador to russia, former ambassador to mexico but Homeland Security chief john kelly said twice yesterday, he was with Rex Tillerson in mexico, there will be no, regarding to immigration, there will be no, i repeat, no mass deportations of immigrants back to mexico. It almost sounds like there are, balancing forces here. Donald trump talking tough and then these two his emissaries going out there tamping down a little bit of the concern. Is that just the way politics works . You know, im as Charlie Gasparino said im just a country reporter which is hard to say because im from los angeles but im not a country reporter but how is this working . What is going on here . You i think what happens is, that when when senior government like kelly and tillerson come into the reality of the u. S. Mexico relationship, it is not the place for simple rhetoric. And kelly understands and tillerson definitely does, keep in mind, that mr. Tillerson knows mexico very well. He is just as head of exxon, just tremendous amount of money there. Theyre dealing with reality. And reality is, mexico is our second largest export market. Liz gotcha. A billion 1 2 dollars across the border every day. We sell more to mexico, we sell more to mexico than we do to china, japan, and england combined. Liz in fact u. S. Exports have increased to mexico 468 starting the year before nafta. We must leave it there. Of course. Liz we must leave it there. Amount ambassadors, pleasure to have a very important conversation. Thanks so much. We need to go to the white house. Now the president of peru is with there with president donald trump. We believe they just stepped out of the meeting with the President Trump. He is speaking in spanish with reporters. Until we can actually get a translation we are going to hold off on listening in. Is that correct, travis . Is that okay. But he i have to telling you something, folks, look to the far right here, lower righthand corner. The dow is just down 17 point with about 17 minutes before the closing bell rings. Can we put up some of the markets here for a moment because we had been down more than 70 points. It appears the dow wants to climb back to the flat line. S p looks like it is about to go positive if not flat. Breaking news, we see a market resilient on a friday, with a bunch of headlines that came out, almost market lack of anything truly negative continues to want to move forward and maybe we can cycle in some of these intradays. You can see how low we were, down 71 points. Now we are up at the highs of the session this very second with less than 15 minutes to go before the closing bell rings. Can we flip it over to the zap . The s p low of the session was down 10 or 11. Now it is too at the highs of the session, down just a third of a point. Same i believe, not 100 sure with the nasdaq. Can we get intraday for the nasdaq in . Im telling you, im guessing it is at the highs of the session right now. Folks, were witnessing a major comeback, despite scottrader from the nyse, we quoted at top. Show, he got spidey sense we might see the end of the 10session win strike. Im not saying the dow will make a record run for number levin. The dow is down 15 points with 15 minutes to go. When we come back you want me to do Charlie Gasparino . Okay, Charlie Gasparino is about to run down with breaking news on wells fargo you need to hear as well. A lot of you own that stock. I need you to stand by for just a moment. Watching a little bit of a bull and bear race. Not a horse race but a bear race. See how this one ends on friday. Dont move. If youre new to medicare, or retiring soon, now is the time to consider your Medicare Coverage options. 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Were looking for any kind of catalyst here. I to see, jeffrey gunned gundlach, the bonn king, has been saying the u. S. Treasury note yield to drop below 2. 35 . It is only at 2. 31. When yields come down that is a little bit of fear coming into the market. I keep my eye on the vix and it is still down 2 . Watch this were down only three points, if i were a bet be babe, i would say we might hit the flat line. Were down two. As we watch this, i will bring in Charlie Gasparino, got some news on wells fargo. Well keep one eye on the big board because we could go positive. What we understand from wells fargo there is a massive crossselling investigation. Many people thought it was over involving wells fargo, that they paid their 185 milliondollar fine to the Consumer Financial protection board. That john stumpf ceo of wells fargo stepped down recently. Might have more executives stepped down in the alleged abuses involving crossselling Financial Products to bank customers. Ie, youre a customer, you often find out you have he three Bank Accounts in your name you pay fees on that, even though you didnt ask for that. Thatthat is a pretty serious th. Here is what we know wells fargo is still internally investigating this alleged scandal. Were internally weighing further management cuts, dismissals based on knowledge of what was going on or people that should have known what was going on and didnt know what was going on. My point is in the story liz he is not out of the woods. Wells fargo, new ceo, some dismissals for investors looking at this stock, this company is still not out of the woods regarding the crossselling scandal. What i should point out there is a broader investigation going on here involving all the nations big banks. The word im getting from investigators and lawyers representing the banks is essentially this. They believe the most egregious of these abuses of crossselling thinking and it was pretty bad, average people finding out they had a checking account, a credit card account without taking out that account. They were paying liz done behind their back. This was really bad stuff. A lot of people thought it was a widespread problem. What happened at wells occurred across the board. What theyre finding that is not the case. That doesnt mean a few banks here and there might get dinged, what im hearing that the broadbased abuses initially thought in the Banking Industry regarding abuses involving crossselling has not turned up in this investigation. That this broader investigation done about it Consumer Financial protection board is likely to end in a couple month to find most of the big banks like jpmorgan, like citigroup, theyre going to be out of woods or largely out of the woods. It wasnt a systemic problem as you see at wells. That is good news for the banks. Maybe modestly bad news for wells fargo. If youre looking to buy banks and worried whether this would hurt your bank, cause your ceo essentially to step down, its probably not going to be the case involving everybody, everybody else. That it looks like if there is individual fines to be meted out, that might occur. Liz right. But were not going to see the ceos of these, probably not. You never know. Wikileaks might come out with a cachet of emails that jamie dimon was saying, lets crosssell and screw people. I doubt that jamie is an honest guy. We should point out wells fargo had no comment. The Consumer Financial protection board had no comment. Liz nobody has any comments about you and me and our snapchat video. It was very frightening. Did you show it . Liz did we show it . The dow came within two points of lifting hitting that flat line. This would be the 11th were trying to go positive and staying slightly negative. The s p and nasdaq have indeed turned positive. Let me tell you what a leader for Dow Jones Industrials as we get adam shapiro in front of the camera. Johnson johnson, home depot, walmart, boeing is looking good, disney. The laggards are Goldman Sachs and american express. I believe chevron doesnt look so good at the moment. Adam, what are you seeing here . Now were down 11, we got very close for that second about six minutes to go . Reporter were talking to men and women on the floor, 3 30 a buy order came in, whether it was computergenerated order Something Else was going on. That is when things started to turn around. No one knows exactly what triggered the 3 30 change. Something going on at white house or somebody trying to get in before the weekend. That is one of the explanations theyre giving us, liz. Liz we should mention in about five minutes or after that, we have very important Earnings Report, that is Berkshire Hathaway. It looks like a huge conglomerate. He is in energy he is in insurance, and he owns dairy queen and housing companies. This is very importantly watched Earnings Report as almost as proxy for the economy. Reporter 8 00 8 30 a. M. Tomorrow morning you get the report from warren buffett. He is one of the top 10 shareholders apple. He also has a good shape in sirius xm radio. Liz right. It has huge cash flow potential here. Their guidance, 1. 5 billion. A monopoly that charges people almost 16 bucks a month. He is in at least atmospheric radio and in apple. People like it. Liz dont move. Stay in the conversation. Were bringing in jordan kimmel who has more than half a billion in assets under management. Jordan what do you think is part of comeback . Adam talked about what could be a program trade of 500 million buy and boom, that goes up. But we had the bond guru jeff gundlach, saying watch out, were starting to see bond yields come down in the 10 00 year. Dont expect that. People hope that they stay low. Money wants to come into the stock market. Thats what im interested in. But the fact is you can think Interest Rates will stay low forever. Please dont get caught into a bond trap. Liz again, were four minutes away from the close. Will we see an 11th record close in a row for the Dow Jones Industrials . Right now looking less and less, down nine points. The s p and the nasdaq turned positive and holding. So have the transports. Again warren buffett, what you get to see in the Earnings Report and tomorrows letter, what he sees on the horizon of the economy but also, what he is buying. Sirius, you are serious about sirius xm. Siri, Ticker Symbol sri is up about a . It has jump exponentially when buffett said he is taking a stake. It is smart to watch him. If youre not reading his annual report youre making a big mistake if youre not watching him a little bit. I dont get involved in stocks un 10. That is the only stock i own under 10. Liz why . What about it . The only service im paying for. Its a great service. 30 million are. Liz i pay for it. I love it. Its a great service. Liz fox business is on channel 113 xm sirius. There you go. It has cash flow. You want to be involved in accelerating revenue and accelerating cash flow. That is what it is about. Siri is in my portfolio. I beat him to heinz by 50 years. He got ahead of me on sirius. Liz adam, talk to me. Nasdaq clinging to gains. Is this a friday where we see confetti or balloons . You will not see confetti or balance. Youll see a record close on s p 500 to 2365. Liz 2365, everybody. Dow is holding 12 off. This will be a tight one, liz. Liz were at 2364. Folks, adam says we need 2365. That would be a real comeback. What does it say about market psychology, we were down 71 point for the dow and down 10 points for s p here . Market cant rest because money is trying to get in. People trying to talk down the market. Liz is that because they believe Donald Trumps policies, even though we havent gotten a lot of texture to them, are very progrowth or at least perceived to be progrowth . Liz, that is definitely it. The market looks forward. Some naysayers he hasnt done this yet. Markets like forward six months to nine months. They know this will happen. Trump saving what he means and doing what he says which is a little foreign in washington frankly. He is doing exactly what he said. It is progrowth, probusiness. Get on the bandwagon or sit on bonds at 1 . Maybe you want to wait for the next election. Liz 15 seconds before the bells start, okay, the market closes in 30econds. Omg. We just turned positive for the Dow Jones Industrials. Can it hold . [applause] unbelievable. May or may not. It is up three. Oh, got dollar bills falling. You are witnessing a very important comeback. [closing bell rings] shows resilience on the behalf of the bulls and bears suddenly retreated after having been in full grip of this market earlier today. There is the closing bell. David, melissa. That was a squeaker and another record. Melissa amazing. The dow staging an unbelievable comeback in the final minutes of trading. It pulled it just, just eked out another record close. Thats 11. The s p and the nasdaq tur positive as well. Wow. Im melissa francis. David im david asman. Things could still settle a little bit but it appears solidly at least for the s p and the nasdaq and i think it is fair to say the dow jones made another record today. Melissa i think it made it. David 11 in a row. I was looking at marketwatch while it was talking. It still didnt have the positive signs in the dow jones but as you can see, were clearly in the green n