tv The Claman Countdown FOX Business July 17, 2019 3:00pm-4:00pm EDT
really been sideways. sort of anxiety, although that has been changing in the 3:00 hour. liz claman, the markets really have moved a lot more so than normal in your hour and of course, ahead of netflix earnings today. liz: that is a huge story. it could very well be a driver. we encourage people even if they don't own netflix stock, stay with us right, because so many can move, it's almost a domino effect. we are going to begin with this breaking news. time is running out on congress to lock counsdown a debt ceilin deal. house speaker nancy pelosi just confirmed about an hour ago that a budget deal must be in place by this friday in order to beat the clock for the actual vote to raise the debt ceiling. it's got to be by next thursday, because by end of business day thursday, congress skips out of town for the august recess. debt ceiling fights can move markets. we are going to take you straight to capitol hill to see exactly where we stand. capitol hill also drenched in tears today as the families
of victims of the twin boeing 737 max jet crashes made heartfelt testimony before congress. they blame not just the aerospace giant but just hours ago, also pointed the finger at the federal aviation administration, saying it deserves some of the blame. in a fox business exclusive, coming up, acting faa administrator daniel elwell is here to respond. congress also keeping up its attacks on big tech and the stocks of those names, charging one of silicon valley's biggest with running an outright monopoly. one of the nation's top tech experts here first on fox business on whether a breakup is inevitable. he's gene munster, the street listens to every word gene puts out on any of these names. he's here first on fox business. plus, billionaire visionary elon musk making brains explode with far-out technology aimed at connecting the human brain to
computers. we go deep inside the neurolink announcement. markets are lower, not too bad, but investors are really searching for a reason to make a move to the upside. netflix earnings could be that reason. they are coming out in more than an hour. we are less than an hour to the closing bell. let's start "the claman countdown." liz: all right. this is just moving. we have the white house just now releasing a statement on its decision to ban turkey's involvement in the f-35 joint strike fighter program, solely blaming the country's decision to purchase russia's s400 air defense system. the administration saying right now it will be impossible to move forward. it is concerned that russia might gain too much inside information on the stealth
system of the advanced fighter jets. if turkey's got a deal, right, to buy those, then maybe they're talking to the russians and if we let them have some of our information, could russia take it. that's the concern. however, the white house also tried to mend fences saying it quote, greatly values its strategic relationship with its nato ally. lockheed martin is on the screen right now, down 2%. it makes the f-35 fighter jet along with a host of subcontractors including united technologies, pratt & whitney division. utx down 1.75%. bae systems bucking the trend. from planes to trains, wall street getting railroaded for the second day in a row as trade pressures weigh on the markets and on the transports. remember, i told you guys this before, you have railroads and airlines in the transports, among other names like federal express and ups. but you're looking at the transports taking a particularly outsized hit. we are down about 357 points, or
3%. 3.33% at the moment. intraday it is not a pretty picture. why? led lower by train stocks. csx, that stock is going off the rails and taking the other names with it. its shares are on track for their biggest one-day drop in nearly 17 years. down 10% right now after the railway giant posted lower than expected quarterly profit, chopped its full year revenue forecasts. why? it says it's experiencing weaker than expected shipping volumes for its industrial customers related to the trade problems. yes, this is stuff that moves from cargo ships coming in from china to the railroads. there are worries a freight recession is under way in the transportation industry. that's viewed as an economic bellwether, of course. norfolk southern down 6.5%. union pacific down 6.25%. kansas city southern down 4.5%. all those names slamming on the brakes as well. investors seem to have digested
their profits after blue apron tacked on in just the last 48 hours a significant percentage, right now it's down 8%, but over the past two days, they have been up 27%. not bad. yesterday, what got this stock juiced to the upside? the meal kit company surged 35% yesterday. why? well, the surge can be very much attributed to another high-flying name, beyond meat. blue apron cooking up new beyond meat based menu set to debut in august, featuring recipes that include a caramelized onion and cheddar burger and jalapeno and goat cheese variety. the stock has gotten creamed since its ipo in 2017, down for blue apron as much as 90% but it has certainly come back year to date. let's put it that way. beyond meat trading lower by 1.75% but up more than 565% since its initial public
offering back in may. all right. let us take you to capitol hill right now. we've got talks to avoid another government shutdown over raising the debt ceiling, and those talks apparently are moving in a positive direction at this hour. as treasury secretary steven mnuchin spoke on the phone with house speaker nancy pelosi and senate minority leader chuck schumer about how to keep the government from running out of money. the nation's debt is still skyrocketing as the trump administration proposes to add $1 trillion to the debt in next year's budget. the treasury department warning congress you got to do it now, you've got to raise the debt ceiling ahead of the august recess, as we said, which starts one week from tomorrow. both sides find themselves in these positions all the time. democrats, republicans, and whoever's in charge, you hear the other team saying no, no, we will hold this up. well, the last time the u.s. went careening toward the debt ceiling without any plan, standard & poor's downgraded the u.s. credit rating from triple a
to double a plus and the markets gyrated. washington, you could argue, is even more dysfunctional now than it was then. the obama administration seeing 16 days of government shutdowns in eight years. the trump administration has racked up 38 days already of shutdowns in its first two and a half years due to bipartisan bickering and intransigence. edward lawrence, you are in the midst of all of this chaos on capitol hill. i don't know, my gut tells me of course they will raise the debt ceiling in the 11th hour, but what are you hearing? reporter: yeah. it feels like a stalemate right now, today, it feels like a stalemate. however, lawmakers here on capitol hill do believe that eventually, the debt ceiling will be raised. however, treasury secretary steven mnuchin said that congress is on the clock. he says the government will run out of money in certain scenarios that he has in early september and that is before congress gets back from their break, from their summer recess here. now, today he spoke on the
phone, as you said, with house speaker nancy pelosi, also senator chuck schumer, trying to get them to work out a deal on raising the debt ceiling so the government can pay its bills. >> we would like to have something on the floor next thursday. that we can send it in a timely fashion to the senate so that they can go through their shall we say particularly senatorial process to get it done in time before they leave. reporter: but the holdup here is the house. the house goes on recess july 26th, or after july 26th. the senate's recess starts august 2nd. now, on this, pelosi says that a short-term deal is not in the cards for her. she would like to see a long-term deal related to this. the short-term deal floated by the administration to get to that long-term deal, again, lawmakers here do believe that something could happen related to the debt ceiling.
now, the other elephant in the room here really is china. and the trade that's going on. the administration would like to have a deal with china, says that china would like to have a deal with the united states. now, china has hardened its tone as of late. the newest member of the trade team for the chinese is the chinese commerce minister, and he says china must stand firm in defending their interests. so far, members of the u.s. trade team have deflected questions about how the talks are going. >> let robert lighthizer work his magic behind closed doors with the chinese. we're in a quiet period. that's all we should be talking about. let's focus on the usmca, getting that passed, but let's focus on the fed lowering interest rates, starting this july and guess what, if we do that, we'll cruise past 30,000 on the dow and keep this prosperity cycle going. that's where we're focused. reporter: white house economic adviser peter navarro would not say when the next face-to-face
talks will happen. liz: we all may be working late thursday night a week from tomorrow. thank you, edward. from chaos on the hill to a new battle about to be sparked in the streaming wars. in just under an hour, we expect that netflix will reveal just how many new subscribers it snagged during the second quarter even as competing companies circle like sharks around the powerhouse streaming giant. netflix slightly down at this hour but well off its 52-week low of 231 bucks. as far as profits, analysts say investors can expect earnings per share of 56 cents which would actually be down 34% year over year, but analysts also believe revenue will jump 26% to 4.93 billion year over year. okay, as i was saying, you guys, even if you don't own a single share of netflix, you need to watch this following number. subscriber growth. analysts believe 311,000 new customers domestically signed
up. internationally, 4.74 million subs added. it's getting really crowded under netflix's umbrella, where competitors like disney, time warner, comcast, and amazon, are jostling to snag those subs. which stocks will get soaked and which will stay dry as netflix beats or i guess misses on earnings? to our floor show traders. scott bauer has been pondering this question at the chicago merc. who is poised to move on the netflix report? i know it depends on their subs numbers and a few other numbers. who do you think is in the spotlight here? >> first, i think netflix itself is. i'm looking for a real positive number, liz. they came out last quarter and they really reduced their expectations. i think they're going to beat them handily. that being said, i think that the fact that "friends" is going to at & t and "the office" is going to nbc universal, that's way overblown. i think that's built in too much for these other streaming
companies. i really think that there's going to be weakness in both of those other stocks, regardless of what happens with netflix. but even or more so if netflix is up on the positive side. liz: okay. all right. we are looking at netflix, just so you guys know, very often netflix stock will move lower in the wake of its earnings. it's just sort of the pattern that's been put into place. let me get to matt cheslock here. give me a sense of which names you feel, because it's not just about netflix, the names that you think will start, you know, gyrating, who knows, depending on what the news is on netflix. >> we have given netflix a lot of credit for original content and apple is coming out now saying that's what they're going to focus on, original content. they're not going to pay all those hundreds of millions of dollars to buy old shows. that's the one i'm going to focus on. they got some deep pockets. they are willing to spend some money here to get into a new industry. netflix has got a big, big competitor on their hands right there. liz: phil, i haven't heard anybody say anything about disney, but right here on fox business in an exclusive
interview yesterday, the top analyst in entertainment said this about disney. >> a lot of original content from their movies and spin-offs from, you know, they are taking characters from "toy story" and "star wars" so there will be tons of original content. liz: she said the arrows are flying from disney at netflix. what do you think, phil? >> well, they are. they are taking a lot of the content that was on netflix and putting it on their own platform. but the battle has only begun. listen, what she's saying is content is king. but i think in this case, a rising fang will raise all the fangs. if we get a good number out of netflix it's going to carry over and who's going to really benefit from strong netflix numbers? it's going to be the providers of content. disney has its own content so they are going to have an edge in that viewpoint but also, the other movie producers out there, this is the golden time for them. if you have a tv show idea, this
is the time to come up with it, because they are going to need a lot of space. the more people you have in this space, the more content you are going to have to produce and they are going to be the companies that are really going the benefit from this, you know, from this war that we are seeing in the streaming space. liz: i know you said producers, but boy, the writers who are watching right now, they are saying oh, no, you're killing us. it's the writers who come up with the ideas. >> there you go. the little people out there. they are the ones we have to remember. liz: let me tell you, the writers are now the big people. great to see you. we are keeping an eye on netflix, down about three quarters of a percent right now. but not just netflix coming out after the bell. ibm. alcoa, big aluminum play. ebay among other names reporting after the bell. connell and me llissa will have all the news at the top of the hour. netflix for the moment isn't under attack by the regulatory military known as congress. with the closing bell ringing in 45 minutes and the dow down 58 points, big tech and social
media are yelling incoming. everything from apple's iphone dominance, facebook's crypto ambitions, amazon's retail stronghold under fire by a bunch of government voices pondering whether to break them and their dominance up. could this happen sooner than investors think? one of the top experts in the nation, gene munster, is joining us first on fox business when "the claman countdown" comes right back. fact is, every insurance company hopes you drive safely. but allstate actually helps you drive safely... with drivewise. it lets you know when you go too fast... ...and brake too hard. with feedback to help you drive safer. giving you the power to actually lower your cost. unfortunately, it can't do anything about that.
what is the largest social media network platform company by active users in the world? i can tell you that it's facebook. it's number one. do you know the third largest company is whatsapp. the fourth largest social media networking platform in the world by active users is facebook messenger. the sixth largest is instagram. what company owns instagram? >> congressman, facebook does. >> we have a word for that. that's monopoly. liz: democratic congressman from colorado, joe neguse, using facebook as a punching bag at hearings on capitol hill.
facebook's the easy target not only because of the huge spectrum the social media giant spans but because of its plan to disrupt the financial industry with its new libra cryptocurrency project. facebook adamantly denies they are quote, a monopoly. yesterday, not just facebook but apple, amazon and google were blasted on capitol hill over their market power and perceived bias. first on fox business, let's bring in somebody who has watched these names forever. top analyst gene munster of luke ventures on whether the inevitable is coming. i need to start with a yes or no question. is it inevitable that at least one of these names will be forced by the government to break up? >> no. there's a simple answer, liz. the reason is that part of the truth that is underneath many layers on this that wasn't revealed in some of those comments about what is good for consumers ultimately, that will be the driving force around any sort of regulation. consumers ultimately want free
products. it's an important aspect here. so when regulators, and this makes great political theater, these conversations, but they are missing i think what is core. let's just quickly kind of walk down each of these companies has different aspects to it, but i think if you go through it piece by piece, consumers ultimately are going to be in a less beneficial place and i think that that will prevent any sort of breakup. i will add, though, that your question was specific about breakup. the question about will there be further regulation and oversight within these companies, and the answer to that undoubtedly is yes. liz: okay. what stage do you believe we are at when it comes to legislation on regulating the way big tech handles users' data and privacy? is it formulated, is it already written, about to be put forth? >> it's starting to be formulated. i suspect we will see more things put forth in this fall and probably actual regulation
won't happen until sometime in early to mid next year. those early regulations are going to be around consumer privacy sharing and your data and effectively requiring these large companies to get better tools for you to be able to manage your privacy and not essentially default to open end sharing your data with third parties. that's probably going to be the first avenue. breakups will undoubtedly be talked about over the next few months, but i think because of this standard, is the consumer better off, i think that is not going to happen. liz: all right. okay. so no breakup but definite regulation. i want to jump to cryptocurrency. it's not just the regulators who have jumped into say this is absolutely a crazy idea to let facebook somehow experiment with our, you know, our bank accounts. it's president trump, steven mnuchin, jay powell of the federal reserve here, bitcoin's starting to move back up again. it had been around $11,000,
$12,000 recently, but now it's at $9,888. but for libra, which is of course the cryptocurrency project that facebook would like to put out, i'm just wondering what happens there, and should we allow it to go forth as a new idea, a new technology? >> so from a high level, i'm more negative on crypto. i'm very positive on blockchain, maybe just have a starting point there. i think facebook has a lot of red tape to work through to make this happen. i don't see facebook owning a platform and also owning a payment avenue as the best way forward. so my suspicion is that i think that if i was going to have to make a bet, i think that it's unlikely it happens. if it does happen, this can take a year plus before they get any sort of approval and probably a few years before it happens. liz: i know you say that when all is said and done in 2019, apple will be the top performer. what do you think will be the
second top performer? >> well, i just threw a quick one before we jump into the second. i think apple could potentially double here in the next couple years. huge upside, underappreciated by the street. the second one would be amazon. the reason is that if you look at the other fang stocks, google and facebook are going to have regulatory overhang here and then you have netflix which is a whole separate issue around competition. so i would put a distant second at amazon. liz: amazon, distant second. gene, great to see you. thank you so much. >> thank you, liz. liz: gene munster. what's the next musk moonshot? we have a major hint for you. closing bell ringing in 36 minutes. the eccentric billionaire elon musk rolling out his plan to connect your brain to something he calls neweurolink? what is that? find out next on "the claman countdown." >> if someone has broken their neck, broken their spine, we can
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there's an incredible amount we can do to solve brain disorders, damage, and all this will occur, actually i think quite slowly, so i want to emphasize that. it's not going to be suddenly, neuralink will start taking over people's brains, okay. it will take a long time. liz: billionaire elon musk has already revolutionized the road and solar system with tesla and spacex but now he's looking to change the lives of millions of americans. the entrepreneur gave a brainy presentation at neuralink, a company he founded back in march of 2017. that company aims to create the perfect marriage between humans and computers.
perfect marriage? jackie deangelis has been dipping into this. i'm all for advancements, especially that help people regain function, but tell us what this is about. jackie: it sounds a little like science fiction but it's not. elon musk's next project is taking brain machine interfaces and linking them with humans and a.i., artificial intelligence. so what is it, how does it work? well, the idea is to implant chips in the brains of those who are injured or paralyzed. that would allow them to control electronic devices like phones or computers rgs giving them more motor skills. opponents argue it's dangerous, we don't know enough about it, what could the downside be. musk actually says it's going to revolutionize the way people with disabilities function. musk gave that presentation on behalf of neuralink and explained why he thinks this is critical. listen. >> this is something i think that's going to be really important at a civilization level scale. so -- and i have said a lot
about a.i. over the years, but i think even in a benign a.i. scenario, we will be left behind, so hopefully it is a benign scenario, but i think with brain machine interface, i think we can actually go along for the ride and we can effectively have the option of merging with a.i. jackie: the technology is so interesting, the threads are thinner than human hair, but you need holes drilled into the skulls of humans to actually place them in there. musk is saying that later on, lasers are going to take over that work. changing the way that people with spinal cord injuries can function, using technology, it could be the wave of the future and really essentially what he's saying is get on board with a.i. because you got to get with the program. liz: well, i've studied spinal injuries with many of the vets that we have covered who have been wounded, et cetera. listen, we cheer him on in this endeavor.
thank you very much. jackie: sure thing. liz: elon musk survived what can only be described as a few near-death business experiences but with the closing bell ringing in 29 minutes, how about this story of survival. the cutthroat queen of reality tv, "dance mom's" abby lee miller enduring bankruptcy, prison and a real near-death battle, fighting cancer that's left her in a wheelchair. in my everyone talks to liz podcast, this tough-as-nails tv tiger explosively reveals how she became the biggest comeback story in reality television. not only do i have a behind the scenes teaser with abby on my @lizclaman twitter page, jump to my podcast from there to hear the whole incredible story revealed. download it on apple, google podcasts, fox news podcasts.com. i personally was blown away by her frank account of the mistakes she's made and how she's battling back. up next, heartbreak on the
hill. families of victims of boeing's dual 737 max jet crashes testifying before a house transportation subcommittee. but is boeing the only one to bear the blame? what role did the federal aviation administration play in overseeing boeing's newest plane? we are about to ask the top man at the faa, acting faa administrator, daniel elwell. he's here in a fox business exclusive next on "the claman countdown."
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[ inaudible ] critical systems could cause crashes and death. they recklessly let boeing police itself. liz: sorrow and fury pouring out at a house subcommittee hearing today on aviation safety. the man lost his wife, three small children and mother-in-law in an ethiopian airlines crash in march. the aircraft, a boeing 737 max 8 jet. that disaster came just five months after the same exact type of boeing jet crashed in indonesia. all 346 passengers and crew on both flights perished. with questions swirling about a faulty sensor system in the jet's design that pilots were not warned about, the max has been grounded since march while the faa recertifies the aircraft, a process that's been delayed multiple times already. here in a fox business exclusive, we are joined by acting administrator of the faa, daniel elwell. welcome, sir. thank you for being here on an important day.
>> thank you, liz. liz: to be sure, he did put most of the blame on boeing but when it comes to the faa, he echoed what many critics have pointed out. the faa surrenders too much of its authority, this is the accusation, to boeing, including the agency's long-standing practice of using company employees to certify the safety of boeing aircraft. what is your response to that? >> well, first of all, i would like to reiterate that my condolences and my prayers and thoughts go out to all the families of the victims of both flights, and i met with two gentlemen at the hearing today, i met with them some weeks ago for several hours and talked with them at length. as far as what we do with a company like boeing that certifies or builds and designs and produces aircraft is we
oversee the entire process top to bottom. there is a delegation that's called organizational delegation, and what we do is we vet all the people in the program, whether they be company people or faa people, and we monitor the system from beginning to end. liz: do you see a potential conflict of interest, if you will? while you have people who, i know it's very incestuous because you have former boeing executives and engineers working at the faa, i mean, these are real experts here. you have been a pilot for american airlines for many, many years. you were also an air force member. so i guess that there's a lot of interweaving. but the question becomes if you put an ex-boeing person in charge of certifying a plane, maybe he's going to give boeing a little bit of leeway and wiggle room. >> well, i know that that is some of the discussion that's taking place but i can assure you, liz, and i can assure the public that the faa is a 45,000
person organization, many of whom have dedicated their lives to safety and the oda program and the aviation safety inspectors and the oda inspectors who are part of the faa take that job extremely seriously, and their singular goal is the safety of the certification, safety of the aircraft and the safety of the operations. but ultimately, and finally, the safety of the flying public. liz: we want to know what's changed. i know our viewers do and our shareholders of boeing certainly do, shareholders of airlines. the question becomes did anything, did you all look at anything and say after this we should have grounded this jet more quickly? you know the canadians grounded it way faster than the americans, the chinese, in fact, nearly the entire world that had these jets said forget it, stop, drop and roll, we do not have faith at the moment that this plane is airworthy, yet it took much longer and the faa said we need more data.
>> the faa, after the ethiopian accident and even before after the liner accident, we were gathering data on all of the max operations, both in the u.s. and canada. obviously we were looking for links, any links between the lion air and ethiopian accident after the ethiopian accident took place. we were looking for a definitive link that tied the two accidents together. when we received that link through data and through evidence found at the actual crash site in ethiopia, we grounded the aircraft. we did that wednesday morning. within probably an hour of canada grounding their fleet and they did it by looking at the same data. so the faa is very data-centric. it's a risk analysis organization at its heart. and it's a very rare event to ground an entire fleet, and we
needed to have the data that told us, and we did, we waited until we had the data that definitively told us there was a link, mechanical or operational link between the two accidents. liz: need to know, where do we stand in the certification process? a lot of the airlines are saying earliest, november. we are also hearing well into 2020. can you give our viewers any kind of indication of a time on the calendar when that plane will be back in the air flying? >> so liz, we don't work on a timeline for something like this. this is process-based. we have made a lot of progress since we grounded the airplane and started looking at the mcas system and the certification of the mcas system. there have been some delays, as we looked very deeply into this. we have discovered some anomalies, then we have directed boeing to mitigate those anomalies and that's an ongoing process. it's virtually impossible to set
some sort of date or timeline but i can assure once again, the public and you, the 737 max is not going to fly until it passes the most thorough and intense look at the mcas and the other aspects of this accident. they're not going to fly until we are sure that those issues have been mitigated. liz: that is good news. we wait to hear more from you. daniel elwell of the federal aviation administration, thank you, sir. >> thank you. liz: when we come back, we are going to look at what's driving the markets here. dow is getting close to session lows, down 87 points. let's see if any news charlie gasparino is about to break could turn that around. can't se. what is that? that's a blazer? that's a chevy blazer? aww, this is dope. this thing is beautiful. i love the lights. oh man, it's got a mean face on it. it looks like a piece of candy. look at the interior. this is nice.
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liz: charlie gasparino just came down. you think you're tough, right? >> i don't. no. liz: you're always posting pictures of you and your muscles. >> i'm a skinny little wimp. liz: oh, right. i'm pretty sure that none of us is as tough as kirstie ennis. some of what i'm about to show you may be difficult to.marine. she nearly died when her helicopter crashed in afghanistan. she lost her leg, her face was mangled, she became so despondent she considered suicide but around her 40th surgery, that's when building homes for heroes swooped in. we built her a home customized to her injuries and we handed it to her mortgage-free. you know the comfort of that home combined with her amazing spirit enabled her to get her masters degree. she started climbing mountains. she made an attempt at climbing
mt. everest. she even made, check it out, the cover of espn's magazine body issue. the list of wounded vets waiting for homes stretches to more than 100. that's why i formed team fox business with chris hahn, our democratic strategist here at fox news and fox business, to compete this sunday for our eighth new york city triathlon. you have been so generous for the last couple of days, look where we stand now. $55,000. i cannot believe it. so many of you have stepped up. but we are aiming to beat last year's donations which were around $85,000. i would love to see more of you. i will take anything. $5, $15, $500. join liz's army, team fox business. all you have to do is go to building homes for heroes.org and you can put smiles on faces like we did for kirstie. it's just amazing. okay. >> i don't know how you top that. that's an amazing story. liz: you don't.
>> you just take the vow. she's an amazing person. liz: they all are. all the sacrifice. >> the sacrifice, and she's doing great. by the way, it's a great organization. liz: you want to join and do the triathlon with me? >> no. you know what, i want you to know, i ran six miles this morning. six miles. liz: in 90 degree heat. >> it was 86. liz: uphill both ways. >> no. it was on a track. liz: what have you got on your story? >> i survived today. the heat, it was like 85, high humidity. i'm not a total wimp. she's in a class all her own. liz: she sure is. >> interesting what's going on right now with the sprint/t-mobile deal. a lot of people think, the deal participants on the finance side say deal could come this week, it's moving closer, there's major progress. kind of interesting signs out there, tea leafs. one tea leaf is you have the state ags mounting an offensive against the deal, just as this announcement looms. they are out there with filings
saying, that's leticia james, state ag from new york, fighting the merger, saying a trial date, the october trial date is not possible and the companies are not really sending deal information to them. here's the interesting thing. the company has shot back, it's a great letter which actually says this. they have released information, saying that's baloney, we have released information on a potential doj settlement. what they are signaling in that letter is that there is the outlines of a deal on the table, that this thing is getting close and that's what a lot of people are saying, that it is getting close and that is one of the signs, okay. we should point out that a lot of people think it could be in days that this thing gets announced. obviously it's not done until it's done. you are dealing with three-way negotiations involving dish and t-mobile having to spin out some spectrum and assets, from what i understand, it's charlie ergen over at dish, to basically get the t-mobile/sprint assets to them, the spectrum, so he can
create a fourth wireless carrier. again, if this deal works out and a lot's riding on it, makan delrahim, head of the justice antitrust division, if he pulls this off, a lot of people say it's going to be very hard for the state ags to fight. just so you know, you get a fourth wireless carrier, they want to go for it, go for it. we should point out we do have a statement from the doj which basically says how great they get along usually with the state ags. liz: yeah, right. >> they have historically enjoyed a good working relationship with our colleagues in the state attorney general's office and we have continued to work with them on a variety of active matters where our interests align. obviously their interests do not align on this deal because there's a lot of pressure from the trump administration to approve this deal. they think the economic types in the trump administration think if this deal goes through it's better for us in terms of 5g. obviously makan delrahim wants to make sure the antitrust concerns are addressed before he approves it and that's where we are. again, check back with us every
day, every day. liz: you're killing us. >> remember that -- remember that shakespeare sonnet, tomorrow, tomorrow and tomorrow creeps in -- liz: no. i hear sharper than a serpent's tooth it is to have this story going on and on. when we come back, the gigantic gold coin, solid gold. we will show it to you. your daily dashboard from fidelity. a visual snapshot of your investments. key portfolio events. all in one place. because when it's decision time... you need decision tech. only from fidelity. i had no idea why my mouth was constantly dry. it gave me bad breath. it was so embarrassing. now i take new biotene dry mouth lozenges whenever i'm on the go, which is a t te. new biotene dry mouth lozenges. . .
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all right brad, once again i have revolutionized the songwriting process. oh, here we go. i know i can't play an instrument, but this... this is my forte. obviously, for auto insurance, we've got the wheel route. obviously. retirement, we're going with a long-term play. makes sense. pet insurance, wait, let me guess... flea flicker. yes! how'd you know? studying my playbook? yeah, actually. liz: you know that movie, "about last night"? we hid session lows, 103 points. we're watching for big tech earnings after the bell, netflix, epentertainment tech, ibm, ebay as well.
the world's largest gold coin ever, weighing one ton on display at new york city stock exchanges. is this is a time to dive in ultimate investment? gold? jack ablin is here with the go aheaden sectors. i'm guessing you're a stock guy? >> i am a stock guy but certainly gold is an interesting play if you think interest rates relative to, or real interest rates, interest rates relative to innation are going to continue to go lower. liz: i want to let people know it is up 1%, today, 16 bucks, should a bigger corner of people's portfolios put aside for bold just as a hedge? >> probably not a bad idea, liz.
the fact is, we run a analysis of the price of gold relative to the total number of bonds outstanding in the world that have negative yields. what you will find is, as that number grows, so does the price of gold. right now that number is close to $13 trillion of bonds outstanding supporting negative interest rates. if you think that will expand, gold will continue to do well. liz: you like stocks. what sectors are you putting your shoulder behind? >> sure. right now i think we want to really focus on this trade issue with china. we don't think it will be resolved easily because it does represent such a wide gulf between the two nations. so what we want to do is own u.s. small caps. they have trailed large. tend to do better when the dollar improves he specially if
the u.s. economy expand relative to the rest of the world. [closing bell rings] we want expanding emerging market. that will allows to move away from china. liz: master limited partnerships. there is the bell. no more win streak for the dow. melissa: netflix, ibm earnings due out any moment. we'll bring you the numbers that make a big impact on markets tomorrow. the dow closing down 116 points right now at the session lows. s&p 500, nasdaq, negative territory second day in a row. i'm melissa francis. well. connell: i'm connell mcshane, welcome to "after the bell." president trump leaves