Transcripts For FBC Countdown To The Closing Bell With Liz C

Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20161018



ahead in that key battleground state, one day before the final presidential debate. meanwhile, hillary clinton is on her way to las vegas as new polls in nevada show her extending her lead, allowing others to do her campaign trail work as president obama used the bully pulpit in the rose garden in front of a fellow world leader to bash the republican contender for, quote, whining. political panel breaks down the latest news and there's a lot of it from the campaign trail. plus the accounting scandal rocking hollywood and it goes all the way back to spinal tap. remember that movie? yahoo! canceled conference call. more on that and charlie gasparino live from the vegas strip. less than an hour to the closing bell. let's start the "countdown." . liz: we already told that you netflix is charging ahead for the nasdaq at least? it is also dealing the s&p a winning hand. top of the s&p 500 right now. what a two-day event this has been, you saw it yesterday, and now you see it surging right now. we have it moving 19% to the upside. currently netflix on pace for highest close of the year. it reported stellar third quarter results. goldman sachs and united healthcare not far behind, leading the dow jones industrials, adding a combined 89 points to the blue chip index, the nasdaq stealing the show at this hour. the tech-heavy index looking at a gain of 1%. boosted netflix but other oscar worthy standouts. google parent alphabet touching a lifetime high. see this number of 826.18, well ahead of any finish to make it a sixth record close for the year for the tech giant. we're already there, watching it to the closing bell. start with politics and fox business all-stars. connell mcshane standing by in las vegas where both sides are anxiously awaiting new polls that are due out. jeff flock at chicago trump tower where anti-trump protesters are facing off against the other side and peter barnes live at white house with late breaking reaction to what some are calling eyebrow raising comments president obama made in the rose garden. first to nevada donald trump walked out on stage. we take the live picture, he's moving toward the stage, waving to the crowd. he's on it right now. shall we listen in, brad? all right, we're going to listen in because this is coming on the heels of president obama telling donald trump through the press to stop whining about a, quote, rigged election. >> trump! trump! trump! trump! >> in 21 days, we are going to win the state of colorado, and we're going to win the white house. we're going to take it back. [cheers] and while i'm at it, make sure you mail in those ballots before election day. early voting starts on the 24th. mail them in. november 8th. i'd like to also start today by recognizing the incredible military contributions of colorado springs. a place i actually know very well. one of the most beautiful places, by the way. we have such amazing people working at ft. carson. peterson air force base. the united states space command. norad. graber air force base and the united states air force academy. good place. [ cheers ] >> many friends that went to the air force academy. all very smart. they love airplanes, that i can tell you. the courage and selflessness of servicemembers and their devotion to each other and to their country are the traits that we need to make america great again. [cheers] great people. together we're going to deliver real change that puts america first. you don't hear that term have. we don't hear that term very much anymore, do we? america first. if i win, it's going to be america first every single time. that i can tell you. [ cheers ] >> we're going to end the government corruption, and we're going to drain the swamp in washington, d.c. [cheers] >> we are going to renegotiate our terrible trade deals and illegal immigration. [cheers] stop the massive inflow of refugees from other countries. reduce surging crime. cut taxes big league and end regulations. unleash job-producing american energy. rebuild our great military which sadly has become very depleted, but the greatest people on earth. [cheers] we're going to take care of our veterans like they have never been taken care of before. [cheers] and repeal and replace the disaster known as obamacare. [cheers] >> your jobs will come back under a trump administration. your incomes will go up under a trump administration. your taxes will go down under a trump administration. [ cheers ] >> your country is so proud of you, but right now we have to help our country. we have to help our country. it is under siege in so many ways. by the way, you could almost say especially from the dishonest media. that's for sure. [booing] very dishonest. your companies won't be leaving colorado under a trump administration. they'll be expanding and there will be new companies coming in. right now we're not growing at all as a nation. you look the our jobs report, a disaster. last week, jobs report, total disaster. look at our gnp, total disaster. right now we're growing at about 1%. china is at 7%. india is at 8%. we're at 1%, and it's going to be going down if we keep -- if hillary clinton gets in, you will set record lows, believe me. that i can tell you. we're going to create at least 25 million new jobs in ten years. [cheers] and by the way, did you see the protesters yesterday. what do they call them? the protesters are paid a lot of money by the doirngs and i kept saying i wonder why those people are here, because they never seem to have much on their mind other than stand up and protest. and yesterday it came out but it was barely covered by the media, but it's all over the internet. they were busted. they were paid $1500y. they were given cell phones. go up and disturb trump rallies, and i sort of always knew it. in chicago, even last night, we had people stand up for no reason. like what are they doing here? can you imagine that's a big story. hardly covered by the media. [booing] so bad. we're also going to create a new government that answers to the people. hillary clinton is the most corrupt person ever to run for the presidency. >> lock her up! lock her up! lock her up! lock her up! lock her up! lock her up! >> she shouldn't be allowed to run for the presidency after what she has done. i'll tell you. it's true. newly released two days ago, fbi documents reveal just how deep the corruption goes. the undersecretary of state patrick kennedy illegally pressured the fbi to unclassify e-mails from hillary clinton's illegal server. hard to believe. and nothing happens to her. folks, and nothing ever happens. in other words, the state department was trying to cover up hillary's crime of sending classified information on a server. our enemies could easily access. the fbi documents show that patrick kennedy made the request for altering classification as part of a very, very serious quid pro quo. not allowed to do it. this is a felony corruption. yesterday, i said undersecretary kennedy must immediately resign. the media barely covers this event, by the way. [booing] this is a bigger event than watergate, and they practically refuse to cover it. today, i'm calling for him to be fired. [cheers] clinton and her cronies have sacrificed your security, your families safety, and your country's safety as though it meant nothing at all to her. [booing] remember also that hillary lied under oath to congress, saying that she never sent or received classified information on her secret server, right? she never received it on that insecure server that she should have never been allowed to have. that you're not allowed to have, and pretended not to know -- remember this one? -- that the all right c meant confidential, information was classified. she thought it was the lettering of a paragraph. there's never been a time in our country's history where anything like this has gone on, and the fbi, their must be people in there based on what you read, that are ashamed of what's happened and the department of justice, there must be people in there that are ashamed, absolutely ashamed of what's been going on. hillary then told fbi she couldn't remember 39 times and in written testimony last week, under oath. she said she couldn't remember another 21 times. bad memory. [booing] she's got a terrible memory. this elaborate criminal cover-up included hillary's deleting and bleaching of 33,000 e-mails, the disappearance of 13 iphones, some by hammers. two boxes of e-mail evidence gone missing as of last week. can you imagine, now missing on top of everything else, two boxes of e-mails, and the destruction of laptops in a secret deal with the fbi. [booing] this truly is -- and i said it -- this truly is many times worse than watergate. and we're going to put an end to it on november 8th. [cheers] we're going to do it. >> trump! trump! trump! trump! trump! trump! >> another series of leaked e-mails show top officials in the clinton campaign scheming to take massive sums of money from registered foreign lobbyists. then you wonder why we do so badly. but you don't hear the media talking about that at all, do you? you don't see it at all. as wikileaks proved, the media as merely, and it truly is, it's merely an extension of the clinton campaign. [booing] the press has created a rigged system, and poisoned the mind of so many of our voters. they have rigged it from the beginning, by telling totally false stories. most recently about phony allegations, where i have been under constant attack. they attack my business. i built a great business. though most people don't admit that. they attacked my wonderful family. they attacked my temperament. [booing] but i built an incredible company. those papers are filed, and i'm fortunate to have a beautiful and loving family. you all saw melania last night on television. did a great job. [cheers] that she even has to do that is a shame. and my temperament has always been just about my greatest strength. we have a winning temperament. our country doesn't win anymore. we don't win anymore. this is an election about truth, and you're not going to get it from the dishonest media. [booing] some people can't handle the truth no matter what people may think of me, the one thing they know is that we're going to tell the american people where we stand, where we are. we're going to tell them the truth. [cheers] now, even though we're doing pretty good in the polls, i don't believe the polls anymore. i don't believe them. i don't believe them. if there's one or two bad ones, that's the ones they show. believe me, folks, we're doing great. if we keep our spirit and if we go out and win, this is another brexit, believe me. they are so worried, that's why they've become vicious and hostile and dirty because they see what's going on. this rally set up just a short while ago, look at the number of people packed. but every rally is the same way. in her rallies, very few people show up, when she has the energy to go to the event. which isn't often. [laughter] she's doing debate prep. she did so much debate prep. did we beat her badly on the second debate? [cheers] sort of funny, she's been doing this for 30 years, now she has to do debate prep for five days. you know what the debate prep is? it's resting. it's lying down, going to sleep. i think the media is trying to discourage our people from going out to vote, and it was just brought up to me by a reporter in the back. it was very interesting, when you were fighting 17 people, the media was nasty but they really got nasty when we started to take the lead in the polls. they said wait a minute, this thing's going to happen. it's going to happen. change, stop our jobs from leaving, companies from leaving. strengthen our military. preserve our second amendment. they're saying this is going to happen. and it is true. made up stories. they're liars and made up stories. without the media and all of the other corrupt entities that helped her along the way, she would be nothing, she would be nothing. she would be doing so badly. even my worst critics agree, the media has come after us like they have never come after anyone before. it's my badge of honor. wham i going to do? even the "new york times," here's the good news about the "new york times," they won't be in business much longer. did you see what they're losing? [cheers] they are dying. they are dying, and dying also because they're very dishonest, but one of their biggest columnist reporters wrote a story about how bad it. is he said let's face it, this is in the "new york times." balance has been on vacation since mr. trump stepped onto the golden trump tower escalator to announce his candidacy. can you believe that? they're admitting it. they don't care, and said we don't care. they will do anything to stop what we're doing. not me, it's what we're doing. it's an agenda, it's going to be agenda of changes but we won't let them stop maybe the greatest movement in the history of our country. [cheers] >> usa! usa! usa! usa! usa! >> history is watching us now, waiting to see if we will rise to the moment. we have to rise. we have to do it. we're under tremendous opposition. we're the greatest people in the world. that's what i've learned. somebody said what's the most important thing you learned? how great the american people are. i've gone all over the country. [cheers] i have two things. i've learned that and learned how totally dishonest the media is. it's so dishonest. i've learned that, too. they are the most dishonest people i've dealt with. not all of them, but honestly, like 75%. some are very good, but for the most part, yes. we have stories we think are going to be unbelievable stories. they turn out, they make them as bad as possible. liz: in a full-blown attack on the media. donald trump appears in colorado pointing the direct finger saying the press created a rigged system. he didn't point it at d.c., he said the press, the press has created a dishonest situation. the media barely covers stories that are anti-hillary and he went onto simply say that he is going to change the state of the situation in this country. you know he started this speech at two minutes past the hour. began with the things that got him to and through the primaries with great success. renegotiate trade deals, reduce crime, cut taxes and, quote, big league saying put america first. then six minutes later he went in on the attack not just on hillary clinton but the american media. let us bring in joe trippi along with john hart, the editor in chief of opportunity lives. john hart, he stuck with the message that got him to the big dance and went on the attack. does it help him? certainly does with that crowd, but that's not entirely america right now. >> it might turn out the base. donald trump needs a lot more than the base to win the election. he needs to appeal to independent voters, demographics that include younger females, millennials, done a poor job of bringing new people in who might vote for him in a general election. liz: let me jump into joe, i need to get to the fbi documents. the fbi documents he specific leads revealed how corrupt hillary clinton is. but she didn't write the documents. somebody under here, the under secretary of state patrick kennedy had written them to get the quid pro quo, if you push aside the ugly looking e-mails, fbi people might get better assignments. look, he made an interesting point here. he said that undermines the country's safety and, quote, she did it like it meant nothing. she did not do it. we still don't know if she had anything to do with it. we haven't seen a wikileaks trail to that. does that damage her? >> we do know it was after she was not secretary of state anymore. whether patrick kennedy or the fbi did any of this because they both stayed, in the fbi denied there was quid pro quo, you know, she wasn't there. she didn't have anything to do with it. i think, look, the problem with the speech, the people for trump will eat it up. it was a great speech for them, but there's nothing in this, including the fbi and cia and the e-mail stuff. i think most people in the country have made a judgment, they're either for her or against her and heard all this, and him continuing to bang on it helps with his supporters but doesn't reach in a suburban america, some of the republican women, moderate women, he has to get them back. i didn't hear anything in the speech that got there. liz: he started getting there. hold on. he started getting there. i'm going to create 25 million jobs in 10 years, almost as if, john hart, had he dog legged to that point and said here's how i'm going to do it, he might have gotten that centrist group that joe trippi is talking about. >> exactly right. he would have spent the next 15 minutes focused on taxes, how you keep companies from leaving the country, lowering individual tax rates. he could have talked about obamacare, how premiums have gone up dramatically since the bill became law. those are the issues he needs to talk about to win people over. the focus on the rigged idea, playing a game as a kid, you flip a coin, heads i win, tails you lose. the system is fair when he's winning, when he's losing, it's rigged. giving the president something to push back on that doesn't help his campaign. liz: joe trippi, 10 seconds left. hillary clinton is not appearing until tomorrow during the debate. doesn't she need to get out here or just lay low? >> look, i think she's doing what she's done the last two debates which is prepare, be ready, and it's worked up until now. debates whether trump believes he's won, the polls don't show that afterwards. i think she's going to do what's helped her get here, which is to be prepared and be ready to go tomorrow night. liz: lovely to have both of you, joe tripe and john hart. keep it here for tomorrow, 6:00 p.m. eastern, maria kicks off the coverage, neil and lou take you through it tomorrow night on fox business. new polls come out at 6:00 p.m. eastern, charles payne will have them on fox business. we're going to be right back. dow is up 80 points. you can run an errand. (music playing) ♪ push it real good... (announcer vo) or you can take a joyride. bye bye, errands, we sing out loud here. siriusxm. road happy. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. . . if only the signs were as obvious when you trade. fidelity's active trader pro can help you find smarter entry and exit points and can help protect your potential profits. fidelity -- where smarter investors will always be. (announcer vo) you can commute. (man on radio) ...40! no flags on the play! (cheering) (announcer vo) or you can chest bump. yo commute, we got serious game. siriusxm. road happy. liz: two tech world originalses set to report earnings after the bell, likely with very different results although you never know. let me get to lori rothman on floor of new york stock exchange with today's fox business tech minute. lori? >> liz, that's right. intel and yahoo! are set to release results in 30 minutes. may cast a shadow on earnings fueled rally right now. to your point, let's wait and see. intel trading up 1.3% ahead of third quarter. thomson reuters expects the chip maker to expect 8% increase in revenue. pc demand fueling demand believe it or not. the company has beaten each of the last five quarters. yahoo! expected to report 5% decline year-over-year. the web portal will not hold a post-earnings conference call, citing pending acquisition by verizon. they will be left to question the hacking of 500 million customer accounts. ibm down 3%. to update that, 2.6% lower after third quarter earnings dropped. however big blue did beat estimates. revenue did slip as well. investors were pleasantly surprised when the hardware company announced quarter three revenue of 19.2 billion. despite earnings the stock is on a decline from opening price. liz? liz: lori, thank you so much. lori rothman. keep it right here. why? at top. hour, lori, david, melissa will have earnings news from yahoo!, interesting stock, embattled. we'll follow it all on "countdown" and "after the bell." the closing bell is in 29 minutes. look at all the green on the screen here. we talked about unitedhealth group but then we have the laggard here, johnson & johnson. conflicting news from one company is gyrating a popular stock. harley-davidson going hog-wild. the american motorcycle manufacturer first reporting lower quarterly profits. they cited weak u.s. sales and announced a reorganization of the workforce. investor immediately on the initial news gunned the engine. they tanked the stock heading for hills. after the conference call hog announced streamlining reduction of workers, the stock popped a wheelie. a major reversal, up 9%. it is currently leading the s&p 500 just behind netflix. up next, we've seen stranger things. netflix with blowout numbers even after hiking prices. is netflix good news propelling the rally or something straight out of upside down? 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>> i don't have more money to pay for them. that is one thing the fed is waiting for all along, inflationary number to pick up. that would justify the rate rise. i think market taking into account we'll get it and get it in december. maybe we get that past us. can we focus are these bank numbers we've seen past couple days, fixed income trading is that more than a one quarter event? will we see that going forward? that is more important for the markets at least from equity side. liz: dow up 84 points. had seen earlier highs of 130 plus points, does that worry you? they're holding more than half the gains on day like this? >> this is not a big move either way, plus 1%. nasdaq is he had lear. there are names, old standbys, dragging dow down a little bit. it probably should be up a little more than that based on new economy names. i'm not really particularly worried about this. this is earnings season. we'll see volatility. liz: a lot of names coming out in next couple trading sessions. larry shover, to the fed, i hate to keep bringing it up, it moves market most, 65 to 70% chance we'll see a rate hike in december but in the short term, people appear to at least picking up, picking up some good quality names on the cheap? >> yeah. and you know the interesting thing, with rates going higher in december, there continues to be this rotation out of what i call low volatility stocks. ibms, berkshire hathaways, exxons, these are dividend quality names people are paying for bond-like returns. it is getting scary with this rotation. people are recognizing maybe we should get into growth or value, especially growth, amazons, facebook, et cetera. dollar trees even. relative to low volatility stocks they're pretty darn cheap. we know since 2009 as we've made interest rates cheaper and cheaper and cheaper, those stocks, the low-volatility stocks continued to increase in value. liz: i think you're right. it is energy names we always seem to watch when they do tend to affect the markets but again even though we're above $50 a barrel, elliot, once again i see iran showed that their exports are holding at four to five-year highs. so nobody, nobody is cutting back the calories here when it comes to output. >> yeah, right. nobody is budging whatsoever. liz: that is for elliot. >> oh, i'm sorry. go ahead. go, elliot. >> larry, take it. the truth is, liz, you and i talked about this many times about crude oil. there is a glut. there is no room, no reason to think that it's a buy at $50. i look at natural gas which is also spiking lately, and spiking on air, news. iran says they will do this. liz: why is crude moving to the highs in after-market right now? is there some news i'm missing? i'm interested to know if you see anything? >> i've been sitting here waiting, so i have not seen any news lately but, no, i believe honestly it is irrational, emotional move. i see same thing in natural gas. fundamentals are very bearish. there is plenty of oil, even production cutbacks they agreed to is few hundred thousand barrels in a day in a market that produces 30 million in a day. i don't see how they justify eight dollars rally. crude will not go anywhere at this point. it will stay $50 for rest of our lives. liz: see opec secretary-general throw in little green, salt, pepper, kooiman, everything else. good to see all of us guys. matt, elliot, one and only floor show. closing bell 20 minutes away. the dow is 163 points above the 18,000 level. up next, the hollywood accounting scandal that has tinseltown talking. one simpsons star to cash in on his fake stock band. we go in on the scandal. this one is 11. site of tomorrow night's presidential debate. sin city enjoys rebirth from the depths of the great recession. what is hitting casino stocks. wait until you see how far they have many come back, why that is a good lesson to all of you. charlie breaks down nix on "countdown." did you know there's a way to save up to 95% on your prescriptions? 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>> it is one louder, isn't it. liz: this is an 11. that was christopher guest along with harry shearer and company. had us all joking with laughter in the '80s, with their cult classic, "this is spinal tap." shearer, the creator of the 1984 mock you moment at thatry, about the bad, it has 185 million-dollar lawsuit against vivendi. shearer, voice actor on sim sons , "the simpsons." vivendi claim they made 80 bucks on merchandise and under 200 bucks in music downloads last 32 years of the suit claims, vivendi which took over rights to "this is spinal tap" in 1989,s that not provide accounting statements in past several years. vivendi shares, stretch it over the past year, vivendi is down, you can see a stock that used to be 25 bucks, is just now about $20. speaking of music and songs, kenny rogers famous song, the gambler, says every hand is a winner, every hand is a loser. if you bought casino stocks in 2009, boy are you a winner! look at triple and some cases quadruple percentage gains. the index is up 3959%. mgm resorts up more than 1,000 percent. aisle of capri, creates a lot of gaming equipment and wynn up nearly 500%. charlie gasparino, who is live in sin city looking at casino bounce back when the chips were down. that was ultimate buying opportunity, wasn't it? >> yeah. if you look from 2007 this, is what interests me, these stocks have done well lately, and you know, thank god. vegas, in 2008, vegas got a bad name. president obama took a couple hits at town. anthony scaramucci at that point brought the salt conference to vegas. maybe that was a good luck charm because it made a bounceback. if you look what happened since 2007 to the casino stocks, two that caught my eye, mgm and sands, if you show the charts since 2007 they have really not recovered. one thing about casino stocks, lizzie, they're a decent indicator of, you know, consumer spending. people have money to spend, they to to gambling tables, go to the shows here. liz: yeah. >> it is still really hasn't bounced back. it shows you that economy still, for all the monetary stimulus we put into it, lots of money-printing, yes we do have job growth now, thank god, it still hasn't fully recovered from the post-before highs this is economy that somewhat problematic for a lot of people. one thing you know about vegas, yes you get your high rollers but this is middle america. that is what is interesting about this back romter how middle america is faring right now. again you look at those stocks, they are, not recovered from the -- liz: hold on. that is exactly what we're doing. the 10-year of mgm does not look good. >> right. liz: if you look at since 2009, sure it looks a lot better. your point is well-taken. >> right. wynn might be an outlyer here. if you put up the chart of wynn, it is kind of interesting. they reached a high in 2014 i believe and come down a little bit but you know, take that, consider that an anomaly. look at it from 2007, they're still, aside from that 2014 spike that they had, it is kind of been down. that is the problem that these casinos have. you know, this economy has out here. it is very contingent on consumer spending obviously. it is barometer of the health of the u.s. economy overall. no matter which way you cut it, you know, whether you like donald trump or hillary clinton or doesn't matter, the numbers don't lie, this economy is still not recovered from where it was before the collapse in 2008. and these stocks are good indication of that. although i'm going to do my part tonight to bring some these stocks back. probably have a nice dinner at the wynn. have a couple drinks. too bad you're not here, liz. would love to have martini with you. you're not much of a drinker. you're more of a shirley temple girl, right? liz: no. cranberry and soda with little extra lime. >> stay away from the lime. that is horrible for you. i'm just kidding. liz: i love me some wynn on core. that is my favorite hotel. -- encore. bellagio, fabulous too. >> i will say this, the mgm, they need to clean rooms better, okay? could you put in a word. liz: tell him. el do it. maybe you should be less messy, charlie. >> cleanliness. personal experience. maybe just my room. liz: stay away from the mini bar, they charge you through the nose. >> you can't even open it, they charge you. liz: you look at it, it goes nuts. charlie gasparino. the dow is up 711 points. we're a far cry from the highs of the session, more than 130 points, are stock-pickers, slightly dramatic statement, but are stock-pickers about to go extinct? trillions of dollars are moving into passive funds as investors ditch monster management fees. 17 billion-dollar man mark luschini makes the case for all his fund managers out there. he has some point you need to hear. countdown coming right back. you're not a cook, if you don't cook. you're not a firefighter, if you don't fight fires. or a coach, if you don't coach. and you can't be our leader, if you don't lead. our next president needs to take action on social security, or future generations could lose up to $10,000 a year. we're working hard, what about you? hey candidates, do your jobs. keep social security strong. sometimes they just drop in. always obvious. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. liz: we have a rally we're holding on to. dow moving higher by 74 points. anybody who owns outright indexes i own simply s&p or simply own the dow you're having a great day without paying much for it. past three years, pension funds to endowment and retail investor figured that out. they dumped $1.3 trillion into index tracking fund while pulling more than a quarter trillion out of actively managed funds. are big money managers in trouble? here to make his case for active investing, janney montgomery scott chief investor mark luschini. mark, make the case. i made money today and barely paid any fee for it? >> i think there is room for passive investments in a portfolio, liz, but the call for death of active managers is a bit premature. there will come a time again in the marketplace where there will be distortions that are not underwritten about it central bank put investors taken favor to and really compressed the disturbances or volatility in the markets and as well have helped to raise correlations between stocks such that it doesn't matter whether you own exxon, chevron, buy it in an index and forget about it. when that day comes, it will come least expected, signs, coming, so many articles use of passive invests and death of active managers that perhaps the tide is nearer to turn. actually in the last quarter or so we've seen some of that. as we've seen a little bit more volatility. we've seen some separation in active managers versus their passive benchmarks perhaps a sign of times to come but i don't think it is appropriate to abandon active managers. as an option to expect some opportunity to add value over and above those returns just purely generated by the passive indices. >> liz: it is the old, once it is on cover of "time" magazine it is wrong or too late. >> exactly. liz: that is what i hear you say. give me an example what you are telling your clients, if you were to throw out three picks at moment. tell me what is behind it and active manager and work you put in to making these picks, how it was formulated and what it had to do with putting these forth. >> sure. if you're going to have a chance to outperform an index over time you have to pick stocks that look somewhat different either by waiting or sector balances that are different than the market at large and be prepared to go through periods of time that returns are disparate from the benchmark. a couple picks we like now, at&t. valuation of 14 times forward in s&p 500 trading at 17 times forward. you get better valuation support, if we see corrective phase we seem to be in the midst of in at the moment carry on. pays 5% dividend yield. we like vcs. this stock has gotten clobbered with a lot of health related stocks down 20% from the most recent peak. still experiencing good store traffic and demographic support is clearly in place with more, rather than less drug usage going forward, prescribed drug usage, that is. liz: right. >> last but not least if you look at retailing space the performance is hardly uniform but one sector we know doing well is e-commerce retailing. people are spending. consumers are spending. we think will continue to, therefore look at company like federal express that at the end of the day has to move the packages around the world that people are buying from their homes. liz: let me tell you something, if i can avoid walking into a store, especially when the weather is bad here on the east coast i'm doing it. mark you have more than 70 billion in assets unmanagement at january any -- janney. as you look at the election, the final debate tomorrow night, people feel some. rhetoric negative live affects market or scares people. does a manager like you go into his morning meeting to start talking about that or do you simply tune it out or look at basic fundamentals here? >> i certainly can't ignore some of the rhetoric that is become increasingly rancorous between these two candidates which sun favorable in presidential election cycles since dwight eisenhower. we're looking who will occupy not just the white house but chambers about commerce. that is what matters. standoff in terms of who would win the election, hillary clinton, or the status quo, than the more unconventional candidate in donald trump. who obviously occupies house and senate does vin influence on the markets longer term. [closing bell rings] we're not doing anything in advance of the election on november 8th. that would change our portfolio construction. it is much more fundamentally driven. liz: mark luschini thank you very much. we have big names like intel and yahoo! coming up. david and melissa. david: we do indeed. we await earnings from intel out any moment now. we'll see yet another beat for the chipmaker company. that is what a lot of people are expecting i'm david asman. melissa: i'm melissa francis. this is "after the bell." we'll get details on intel and big market movers, here is what else we have coming up this hour. donald trump wrapping up a rally in colorado springs moments ago. the republican nominee making major policy announcement to quote drain the swamp in washington as wikileaks releases yet another round of emails from the hillary clinton camp

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