Transcripts For FBC After The Bell 20161013 : comparemela.co

FBC After The Bell October 13, 2016

Speeches praising wall street and Million Dollar birthday check to bill clinton from one arab nation. Really amazing. More coming up on this. What are the odds of republicans losing house of representatives . Well look at that break down as well. David back to the markets first. The dow staging a come back late this afternoon. But then it ended day down about 40 after dropping 114 points this morning. Energy ending in the green, with a big jump in natural gas. Phil flynn on that and other commodities at price futures and a fox business contributor. He is watching action from the cme. Lori rothman on the floor of the new york stock exchange. Lori, we saw this broad recovery after stocks hit a threemonth low this morning. What happened . So, david, it was really a tugofwar all day between the bulls and bears, with bears maintaining upper hand threw the duration of the session. As you mentions, closed to the downside. Dow was down 184 points. Weakest point on the industrial average. There were a couple things setting tone early with disappointing trade data out of china. That reignited concerns of slowing economic growth. You know that really translates into talk of the fed Interest Rate timeline. I dont want to dwell on that. Talk about the airlines. This is one of the outstanding sectors today. Delta reporting Third Quarter numbers before the bell this morning. It was easy beat the street on earnings. But they also talked about a strategy to reduce capacity. There was glut of extra seats. Theyre trying to streamline that to prop up profits. Declining fuel prices actually helped delta too. That had a nice knockon effect as you see the green arrows on your screen. On the other hand show you financials. We show you these real quick, because big banks report before the bell. Here is how they are poised. Jpmorgan down 1 1 2 of 1 . Were expecting decline of profits in jpmorgan in this low Interest Rate irrelevant environment. Back to you. Melissa lori, thank you. Natural gas at highest level since september 2014. What is behind that move, phil . Mainly the Energy Information report once again missed fiveyear average injection at 79 bps as opposed to 89. What is more disturbing about the report which is Short Term Energy outlook showing a major drop in u. S. Natural gas production. Were seeing a situation where demand is getting very, very strong, production is falling. That will tighten supplies going into this winter. We could see prices go up a lot more. What is more fascinating this oil market today. We started off weaker. We looked at headline number on crude. Almost 4 Million Barrels draw down. Market goes down but u. S. Energy information says the Global Market is in balance. If you look at the global right now, production over demand is only 80,000 barrels, tightest it has been in over 10 years. The market is back in balance. Back to you. Melissa there you go, phil, thank you for that. David red alert. Hsbc issuing a warning that stocks are heading for a freefall citing how similar Current Trading patterns of todays major indices are to the major stock market crash of 1987 here to weigh in scott martin, kingsview asset management, fox news contributor. And veronica daguerre of wall street journal. Scott, i remember 87. Times are very different back then. Do you make a parallel today . I dont, david. I was playing a lot of nintendo Entertainment System back then. I too had my problems in 87. Thank you, super mario brothers. There are some parallels, not a ton i dont think we have black swan event like major market crash. I think Something Holding up equity prices which has been low Interest Rates and Massive Central Bank intervention. If that goes away, and fed hiking in december and further on downed road, that is the big risk to equities not 87 crash. David veronica, people say this election is big black swan. A lot of people are worried what will happen in november. That is huge uncertainty for the market. Theyre pricing in certain things, but still you never know. You have the got the fed. You have got the election. You have china slowing. Investors sitting there what is going to happen . If youre average investor sitting at home, getting worried, near retirement you may want to think having 10 of your portfolio, 10 of your expenses in cash. If we do see a big market dip, youre prepared to pay the bills without pulling out money at the bottom. David good advice. Melissa that is good advice. Senator Elizabeth Warren back in september demanding that wells fargo ceo john stumpf resign. So you havent resigned. You havent returned a single nickel of your personal earn. You havent fired a single senior executive. You should resign. You should be criminally investigated. This just isnt right. Melissa hmmm. John stumpf, tendering his resignation as both chairman and ceo yesterday. That did not stop warren from continuing her attack tweeting today, a bank ceo should not be able to oversee a massive fraud and simply walk away to enjoy his millions in retirement. Scott, im going to you first. I mean this is we predicted this is what was going to happen, that he was going to retire and with that he get as huge package. Depending how you calculate the Stock Options and like what it is trading at, between 120 million and 134 million after the clawback of the 41 million. What do you think about that . Not a bad chunk of change and i think optics on this are tough because youre right, melissa, he did walk out the backdoor so to speak here. That is really tough thing if youre at home thinking about wanting to get with Elizabeth Warren, saying somebody should be criminally investigated and somebody should go to jail which we didnt see much after the 2008 financial crisis. This is much different but similar kind of optics. It is interesting wells fargo allowed him to do, he was clearly in line of some sort of culpability here. Melissa veronica, what make this is one tougher for me, with the housing crisis there was a lot of blame to go around, even people took out loans and bought houses they couldnt afford, you argue back and forth, they knew what they were doing, with this tellers and banks all have been fired. So many people have been hurt by this. All this incentive structure this really seems unfair, veronica. This is tough situation as you said so many people have been impacted by this, not only shareholders because that stock is down 10 since the scandal broke but employees and top executives. Melissa yeah. What you want to look at if youre thinking about investing in the stock i would wait until tomorrow because were going to get some commentary from the company. Melissa yes. We want to know how much money theyre putting aside to deal with this scandal. We also want to see if there are accounts shut down because of this. Are investors or consumers walking away . Not to mention, whats ahead . How are they going to keep their profits up . So much of profit engine was driven by crossselling which is very aggressive. They will not do that anymore. How will they make their money . Listen for that tomorrow. Melissa great points, veronica. Thank you. David new wall street journal poll of economists finding better than even chance of recession within the next four years. You know what that means. The next president is going to have one. How will the next president deal with recession . Veronica, the past president , this president , president obama dealt with recession i think very poorly. Weve had the poorest recovery i think since the great depression. A lot of people say it is because instead of lowering taxes and regulations he did the opposite, making it more expensive for businesses to come back from the recession. So it really matters who is in the top seat. It does matter a lot. Like you said this comeback hasnt been so blockbuster comeback by any david worst since the depression. It is terrible. If you look at people sitting in different parts of the country theyre not making more than they did back in 2007. Some peoples wages still havent come back. There are plenty of people still underemployed if you look at Labor Participation numbers. So who gets in the white house . Also in Congress Makes a big difference in november. David yeah. Further taxes and regulation though isnt going to help growth though. David of course it wont. It will make things more expensive. Scott, the key here, we have somebody as president never had any business experience and Hillary Clinton is kind of similar. Whereas the other candidate who has been through a lost recessions as businessman, he knows business better. I agree, david. Hillary i think though is still somewhat of a known quantity to wall street. Maybe that helps her a little bit. David thats true. Certainly helps wall street a little bit. One thing government can and may not do because as veronica pointed out, Congress Seems to be up in play in fall election, senate and house seats up for vote, that is big wildcard. David that is great point. If they get tough, that will be hard on businesses. David the downballot races are very key in this coming election. Scott, veronica, thank you very much. Melissa. Melissa so iran scrambling warships off the coast of yemen after the u. S. Trades fire with rebels there. How the white house is now responding. David making us a all a little nervous. A split in the ranks of the fbi over its decision to let Hillary Clinton off the hook over her emails. Many agents and investigators were told now believe that clinton should have faced charges. More on this story, straight ahead. Melissa plus donald trump, ripping into the New York Times. The latest woman accusing him of Sexual Assault at a rally this afternoon. Trump said these accusations are lies. He has evidence to prove it. These attacks are orchestrated by clintons and media allies. The only thing Hillary Clinton has going for herself is the press. Without the press, sheis absolutely zero. We ship everything you atcan imagine. N, and everything we ship has something in common. Whether its expedited overnight. Or shipped around the globe,. Its handled by od employees who know that delivering freight. Means delivering promises. Od. Helping the world keep promises. 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. David donald trump is threatening to sue the New York Times because of a piece saying he sexually assaulted women. The New York Times for its part refusing to retract the story. Adam shapiro is live in florida with the very latest from the Trump Campaign. Adam . Reporter at the rally here before 3,000 people mr. Trump called the New York Times story a horror of lies and misconceptions. And he rallied his supporters to chant against the media because of it but heres mr. Trump in his own words denying what the New York Times reported today. The. These claims are all fabricated. Theyre pure fiction and theyre outright lies. We already have substantial evidence to dispute these lies, and it will be made public in an appropriate way, and at an appropriate time very soon. Reporter mr. Trumps attorney sent a letter to the New York Times demanding they retract the article and take it off the website but the times responded saying nothing in our article has had the slightest, has had slightest effect on reputation that mr. Trump through his own words and actions already created for himself. The first part of their letter said, quote, the essence of a libel claim is of course protection of ones reputation. Mr. Trump has bragged about his nonconsensual touching of women. New york times is ready for a fight, david. David both sides are, it is clear trump and the times are. Adam, thank you very much. Melissa here to relax a Trump Campaign Senior Advisor and former apprentice contestant. Julie roginsky, democratic strategist and fox news contributor. Thanks for joining us. Let me start with you. The problem with this is kind of what New York Times said in their statement, it is basically what he said on access Hollywood Tape. Also what he said on the howard stern show, what these women are saying . Well americans know the difference between fact and fiction and this is clearly fiction. I mean melissa how is it fiction . It is what he said on the tapes. He said on howard stern that he would go back behind stage and sigh these women and said on the, access Hollywood Tape he cant help himself but kiss women and grab them. So, it is what he said. Well, im talking about the ladies. Their claim is fiction. The New York Times, they have become the new National Enquirer. This is hearsay. These, yes, the same the tapes, mr. Trump said the same thing. He apologized to the American People. The media wont let it die. The women making allegations. Mr. Trump said he did not do that the New York Times is distracting voters. Melissa let me give you a challenge as a strategist. Other than totally calling them liars and saying it didnt happen and denying it, what is another strategy that he could use here . I mean, when i heard, this is challenge to you as political operative. If he were your candidate . Mea culpa . I have seen a new way, i mean what can he do other than go out and deny and attack the women . I wouldnt attack the women. I would deny it and move on. Attacking women is counterproductive. If you want to talk about the National Enquirer only newspaper in the country that actually endorsed donald trump. Im not so sure they should be bogeyman in any Trump Supporters argument here. I will say, if donald trump truly believes this is not true, if he thinks New York Times is libeling him he should see. Well see in discovery what happens, what comes out. But i dont think he will ever have the guts to do that. I think he understands he doesnt want to go through discovery on this if he wants to prove these women wrong, he did not do to them what he claims they said he did melissa i like your advice. If youre candidate, deny it quickly. Turn the page. Melissa that is the most effective strategy right now. Absolutely. Melissa why do you think he is not doing that . We are turning the page. We have women for trump coalition. Im part of it. Were going across the country letting female voters know that donald trump empowers women. Im one of them. He has promoted as female business leader. Im one of the leaders in the campaign that is female. And he has promoted me. He mentored me along with many other women. He has a strong record of hiring female executives. He is doing that. We are going across the country, to the battleground states and other states. Letting female voters know who he is. Melissa julie, is there any chance that all the piling on, now people are coming out with tape. He said something to a young girl who is going up an escalator. You know, many years from now i will date you in 10 years when youre 18. Kind of like piling on with everything they can possibly find anywhere. Is there a chance it backfires after all. It didnt work against bill clinton . He did still get elected. Big difference. Bill clinton had a woman coming out saying they had consensual sexual relationship very different from what these women are saying. None of these women claiming he had sex with them. They are different in lot of way. They are saying he nonconsensually attacked them and groped them not work. Melissa no chance it backfires. No way the all piling on no, no. Nobody will feel sorry for donald trump for following reason. He was never a paragone of virtue. His words speak for themselves in tape that you saw. Consistently said to women privately and publicly not resonated. Frankly if he is empowering you so much, talk to him and ask him to release the apprentice tapes. He was an actual professional who never ever other people dispute that though. Other women dispute that. I will say this, bill clintoned had affairs with intern until oval office. Those were actions. Trump words versus bill clintons actions. A vote for Hillary Clinton people are alleging. People are alleging words, right . Melissa weve got to go. Thank you. Stay tuned to fox business, we have new fox news polls that will be released tonight at 6 00 p. M. On making money with charles payne. It will provide an indepth look how the controversy affecting female vote. You dont want to miss that. David we do not. Details inside the Hillary Clinton campaign. Wikileaks continuing its assault. What is hidden in new round of emails released today. We have some ideas. Plus yet another leading democrat, this time democrat governor sounding alarm about obamacare, calling it unaffordable. Next donald trump Economic Advisor steve moor

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