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tv   Countdown to the Closing Bell With Liz Claman  FOX Business  February 17, 2016 3:00pm-4:01pm EST

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we want to continue to dialogue. you can "like" my personal page or my show page -- we will see you and talk to you there, in the meantime, over to liz. liz: thank you, trish. wall street looking for the hat trick as the dow and the s&p zero in on their first three-day rally of the year. the dow jones industrial average is zooming right now, up 246 points. off the highs of the session. fed with the assist after minutes from the january meeting show the fed got so worried in january it considered changing the upward path of the interest rates. so right now, we're looking at a rally that appears to be holding. america's business company in the cross hairs of the u.s. government today. fbi investigators want to know what is on the iphone of one of the san bernardino terrorists? apple ceo tim cook, not interested in helping at this hour. he claims order from magistrate to hack the company phone of syed farook could jeopardize
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the security of every one of who you has iphones. all of your privacy. what we're doing is we're dropping in a huge tech panel to debate the issue of individual privacy versus national security. and the battle between donald trump and senator ted cruz just turned up a notch. it is heating up down south, as the fight over an ad has both campaigns fired up two days before votes are cast. all the while, senator marco rubio gets a hail mary from one of the palmetto state's political elite in the last few minutes. our political panel breaks it down. plus charlie gasparino, low oil equals higher airline tickets? how does that work? and who wants to put benjamin franklin out to pasture. we're less than an hour from the closing bell. let's start the "countdown." okay. less than a thousand points to go. make that 600 before the dow
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jones industrial average moves higher by perhaps 17,000, going up above. that the dow up 229 points today, if you do another thousand points it will have narrowed 2016 loss to less than a thousand points. right now we're up 244. look at nasdaq, up 89. just a second ago, it was up about 103. that makes us wonder as we head into this final hour. now there are 58 minutes to go. are we going to lose more of this rally here? it is the biggest winning streak since august for the moment. we're on our 34th day of 100-point swings for the dow. and we are seeing a move to risk on treasury yields rising for the third day in a row. at 1.81. they rise when the price of treasuries goes down. people aren't so worried about putting money in the safe haven play of treasuries. energy, one standout name is kinder morgan, kmi jumping
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nearly 10% after the oracle of omaha warren buffett announced he took a 27 million share stake in the company. he is doubling down on a stock that has fallen more than 60% over the last year. buy low and hold on. that's what buffett does. the long running argument between the government and silicon valley over privacy and security hit a critical moment when apple ceo tim cook outright opposed a judge's order for the company to help the fbi unlock a phone belonging to san bernardino shooter syed farook. in his briefing this afternoon, white house press secretary josh earnest said this on the issue. listen to this -- >> they are not asking apple to redesign its product or to create a new back door to one of their products. they're simply asking for something that would have an impact on this one device. liz: one phone. that's what the administration and the department of justic wants access to. not all of your iphones, apple says we give you the software
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key to that, you'll use it elsewhere? is there a right answer and will the government force apple to unlock the phone. with me joe cordero and the former new jersey law enforcement director who sides with law enforcement. he does not think our nation's safety should be dictated by profit motives and fox business' liz macdonald with breaking news on the story. and technology officer and i.t. expert raj goel thinks the fbi is overreaching and raj, you are on the side of apple. make that case to emotional america who watched 14 people get murdered by syed farook? >> it's never happy discussing privacy and security when lives are at stake or people die. on the other hand, the argument the government is making, the fbi is making, give us access to one little phone. they're asking apple to invest a lot of money in engineering resources, which i'm fine with. once apple breaks security on
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the one device, that gives the government, not just our government, the russians, the chinese, the brazilians the right to demand apple break back doors around the world do. we lose apple as a company or destroy security worldwide. liz: you're saying if they give an inch, the government takes a mile. joe, you're on the side of law enforcement. you see his point but you side with law enforcement and say they better give up that encryption issue and that back door to law enforcement so they can figure out who this guy was calling, this terrorist, and nail other people who might have planned the same thing? >> absolutely. look, this all comes down to the safety and security of our children and american families. if we cannot protect them from acts of terrorism, and local crime because we can't get access to a content of a cell phone, of a terrorist. think about this. this is, i understand, both sides of the argument, but in this case, i think, you know,
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what's being asked for -- pursuant to a warrant, what's being asked for is specific content to a phone to. suggest that apple cannot reverse engineer what they created and not give law enforcement or government the key, but to allow its content to be revealed to law enforcement, to me, is an argument that extends beyond the instant case and instant security goes into philosophical issues. liz: liz, you've been talking to law enforcement close to the case, and say okay, we'll go with the one phone, that's what we want, access to one single phone. >> right, they're saying syed farook's icloud account which the fbi had access to went dark november 19th. a no before the shootings. he was hoarding weapons and bombs. they injured 22 people, they're saying that the phone was owned by syed farook's employer, the county health department, and prior to 2014, apple was
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helping the fbi crack into iphones to track down suspects, alleged committing crimes and that banks play ball to the terrorist accounts of osama bin laden. if the banks can't play ball, why can't silicon valley. that's the argument. liz: what about that? post-9/11, they wanted to follow the money trail, banks opened up cases and said take a look, this isn't an issue of national security. >> banks played ball and apple is playing ball as well, where they could help, they have helped in the past, and i assume this case, they will help as well. on the other hand, given what's going on globally with china wanting back doors, russia wanting back doors, google kicked out of china because chinese hacked google, so apple has been on the forefront of securing their product from all attackers whether it's criminals, nation states or governments, and the moment they give the back door key to the one phone to the fbi, then they don't have a leg to stand
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on against the chinese or others. liz: there's that and there's breaking the law in a way, judge napolitano made this case this morning, you'd be asking apple to break the law. hack into somebody's phone that didn't give approval to do so. here is an apple statement from tim cook. among other things he said the government is asking apple to hack our own users and undermine decades of security advancements that protect our customers. can we put this up? there's the quote -- the precedent-setting issue is big when it comes to privacy issues. they'll fight that, won't they? >> absolutely. this court case will linger for years. at the balance is, we don't really know, if there were other players responsible for the slaughter of 14 americans. we don't know if they pose other threats. and so we need to get to the bottom of that.
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just think about 9/11. think about when we were being attacked, we didn't understand the full extent of it. what was the follow on, and if we had information on a cell phone, then we couldn't get to -- >> tim cook's statement, the government says it's offbase, the phone was owned by the county public health department. liz: who approved going into the phone. >> exactly. liz: why are we talking about this? >> that's the issue. the ownership is owned by the local government, the local government is saying to the fbi, you can go into the phone and apple can go into the phone, too. they've given permission. liz: what do you think apple does, raj? do you think they cave at some point? >> i hope they don't. we're risking the entire u.s. tech economy. once apple game is over. liz: now you're talking about profits versus safety? >> i'm talking about the american economy. our primary export is technology. you look at globally the top
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ten tech forums, half are american, the moment we weaken encryption for this one horrific case. how then do we prevent azerbaijan or russia or india from doing the same thing. liz: joe, how do we do that? >> two things, we have a system of justice in place. liz: apple would say we're following the system of justice. >> in the past we've been able to secure digital information secured by a warrant. signed off by a judge where there is probable cause. second thing is ultimately congress needs to act on this, for the safety and security of our country. congress needs to take this debate out of the hands of profit--based companies and perhaps law enforcement, right? that have a determined agenda, and say, you know, let's balance and make the laws. >> which is what judge napolitano said this morning. congress needs to move and have the laws catch up with the
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times and the times are that terrorists are using technology to hurt us. >> that's true. and since 2014, apple and google have been selling their brand, staking brand reputation on security and privacy. prior to that, apple, according to the fbi and department of justice was allowing law enforcement to break into iphones. liz: you can't have it both ways, everybody. you don't want the chinese hacking in and the government says you got to make your system stronger and tighter and more encrypted. >> the phone is no longer just a phone, it's camera, wallet. do you want the government for good reasons or bad breaking into the wallet. liz: i don't think they'd like the pictures, they are fuzzy. i'm bad at taking pictures. great to see all of you, conversation that is absolutely going to continue. joe, liz, raj, great to have you. liz: apple is moving slightly higher by a percent, $97.98 as
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tim cook digs in on this issue. much more on the privacy battle on fox business, maria bartiromo tomorrow has an exclusive interview with former attorney general john ashcroft. can't wait to see where he stands on. this "mornings with maria" beginning at 6:00 a.m. eastern. closing bell 58 minutes away. take a look at dow leaders here on a big, big rally day. chevron, cat pillar and walt disney which dropped a couple of weeks ago, moving higher. caterpillar moving higher after the sec will not recommend enforcement action on an investigation. and airlines are pulling in record profits with oil prices so low, but jeff flock is at o'hare airport to show us why that's not stopping them from hiking prices on you. we'll look at a ticket or two and how it's changed. more "countdown" on the way.
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big oil concern. it's up right now, it's a limited. so how are the experts playing that? it's jumping 10%. and this is a stock down about 60%, 65% all last year? get right to the floor show. traders at the new york stock exchange, the cme group and the nymex. the massive limited partnership yielded such a good yield. john corpina, buffett gave an indication to the entire market, i'm in on this one, interesting play, isn't it? >> very interesting play, stepping outside of his scope a little bit but clearly when mr. buffett does something and it's publicly released, people want to jump on board and get behind it whether it's that particular stock or in that sector. he's been right for a very long time. foolish not to follow that trade there. liz: that's the thing, trent, when you look at what buffett has done, he's added onto it as the stock fell in phillips 66.
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those two are energy names, you look at that and say buy low, right? we are low in the oil industry. >> well, we are low, liz, but we're talking about a market that's down over 70% over the last 18 months. for me, that's enough for me trying to not pick a bottom in a market like that. and i think that not only for the energy space, but the broader markets in general, if you're buying the rally of the last few days, you have to believe in the near term, we put a bottom in oil. i, for one i don't know about that, i think the lack of volume we've seen over the last three days could be indicative, this is a technical bounce in the broader based market than a true change in trend. for me warren buffett has a better pedigree from an investment standpoint, in this particular case, i would be wary of energy stocks. liz: luke, that is your territory, and oil happens to be jumping today, obviously considering and the news is out all day.
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iran says we're in, we're in on the freeze and the oil patch that saudi arabia and russia say they would like to institute at record high levels of output. that i don't understand. it's like jumping off a pancake. wow, took a risk there. not a big deal. but what's happening that makes it up 5%, does that reverse course as soon as we figure out opec can't be trusted to do anything. >> you don't know about that. you named the three big counties in opec and outside of opec, saudi arabia, iran and russia. they said we're going to try to control the supply side, right? they must think the marginal players can't get back in, and the shale producers breakeven is 45. now they've got room. when we talk about big gyrations in oil prices and think about the fundamentals. the news last week, if they control supply, that's the demand-supply fundamental that they try to change, and i think if oil stays above 30, we'll see the market hold in here,
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but i don't know. we'll have to see if they get along and who starts cheating first. liz: cheating, that's opec's way of life. john corpina, they said it's not the right time. we had keith mccullough say sell into oil rally, but i believe in this amazing, that an 85-year-old man, warren buffett, has such a long time horizon, he says my time horizon is forever. he says time to buy is when it is unbelievably cheap and low. are people that don't buy missing the opportunity for the next year? >> you're never going to pick the top and never find the bottom in these types of markets. but like mr. buffett's filing, there are buy side investment firms that have been displaced over a long period of time, and great opportunities and great prices for investors to get in. there are certain stocks if you
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like this 30% higher, you're going to like it at these levels now. all depends what pain threshold is. yes, the market has moved up and down, seeing a lot of one way markets. i don't see any difference in any of the information from last week to this week that would warrant this type of move in this market, i would be wary we have additional down days following this. to get back to the previous point, if there are stocks that are significantly cheaper than you liked them six months ago, why not jump into them now? liz: yeah, when you love something and it goes on sale, don't you want it at that price? john, trent, luke, great to see you, oil is a big story, so are the federal reserve minutes. when you look at the rally you're seeing at this very moment, much of this has to do with the dow up 261 points, the fed meeting minutes, they are too nervous to go all-in on continuing a rate hike path. closing bell, 39 minutes away, all about the benjamins. why former treasury secretary
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larry summers now thinks it's a good idea to do away with the $100 bill? and jeff flock, who's always packing a couple of hundreds in his wallet is at chicago's o'hare airport to tell us why it's going to take more money to buy a ticket. raising fares as they pull in record profits. jeff? >> well, why wouldn't you raise fares. didn't you ask for a raise last time you had a chance, liz? why they're doing that and what is the chance people are going to pay? probably not as good a chance as liz got a raise. back in a minute. ♪ every auto insurance policy has a number. but not every insurance company understands the life behind it. ♪
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♪ for your retirement, you want to celebrate the little things, because they're big to you. and that is why you invest. the best returns aren't just measured in dollars. td ameritrade®. . liz: breaking news. let the scissor chopping begin. marissa mayer's holding up the big sheers, she is beginning to phase out yahoo! food, yahoo! health, yahoo! parenting, all of these good-bye. yahoo! travel, yahoo! autos and
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yahoo! digital magazine. up a quarter of a percent, she's been under extreme pressure to start chopping the original businesses, and the search engine has been extremely popular, way back in the past, but lost a lot of steam and a lot of leadership to google and, of course, facebook. marissa mayer under massive criticism how she handled the industry and the business, she is chopping a bunch of the names. stay tuned for more what's going on with yahoo!. we have this, too. no more benjamin franklin? former treasury secretary larry summers says the u.s. should stop printing those, $100 bills. why? in order to fight crime. so compare this, how would this fight crime. a million bucks worth of $20 bills weighs more than 50 pounds versus just 2.2 pounds for the c-notes. summers says it tec makes it much easier when they use $100
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bills for tax cheats and drug dealers to move large sumps of money around easily. didn't you see "breaking bad"? should the government stop making the $100 bill? how about the penny while we're at it. find all the links and exclusive archive videos at i kind of like the $100 bill. who wouldn't? oil, as we told you, may have rallied to just over $30 per barrel. in the midst of historically low oil prices, four of the nation's biggest airlines have raised prices, for get this, a second time this year. how much more can we expect to pay for travel tickets? jeff flock live from o'hare international airport. you have been crunching the numbers on some of the flights and what's going on here? >> i'm going to get to that in a second. it's a big day for the airlines. take a look what we've done today. market must have gotten news they raised fares because all of the major airlines up today.
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some more than others. united, delta, american, jetblue. this comes as jet fuel in january got the cheapest levels it has been in ten years. jet fuel less than a dollar a gallon. yes. you can spend less to fill up your airplane than you spend to fill up your car. it's always cheaper because it takes less to refine. under a dollar? tremendous. the market has not rewarded the airlines for this reduction in fuel costs. if you take a look at jetblue versus the dow, hasn't done very well in the last three months. overall, the airlines have been making money. if you look at the profit numbers, 8 billion, $9 billion made in the third quarter of the last year, that's up 61%. i promised to tell you how much this latest increase is. if you look at a ticket from here to jfk, you travel say
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thursday come back on a saturday, pretty favorable time to travel, you are paying $226 at the cheapest fare compared to you were paying 220. not a lot of money. if you can get it, the airline is saying go for it. liz: by a thousand cuts. little tiny increases, right, jeff? i always think if the banks took one penny out of everybody's account, suddenly it matters. yeah it does. thank you, jeff. jeff flock out at o'hare. the closing bell ringing in exactly 30 minutes, up 242 points. look at the nasdaq which is killing it today. garmin looking strong after it came out with better-than-expected numbers. sears, tesla, tesla jumping 9% today. time to negotiate your next
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vacation, speaking of airline tickets, right? priceline rallying off better-than-expected earnings as well. hotel and rental reservation offset. priceline jumping by nearly 11%. by the way, this next story is changing every single minute. donald trump is showing strength in the latest south carolina polls but political panel tells us polls can be deceiving after what some said was a spotty performance for saturday's debate. it's way more than that. there's a he said-he said, liar-liar debate going on now. "countdown" coming right now. >> i lost hundreds of friends, the world trade center came down during the rein. he kept us safe? that is not safe. that is not safe. >> all right.
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liz: we've got breaking news, nike terminated contract with manny pacquiao. the famed boxer, after he made comments about gay couples that nike said did not fit with their image. it finds manny pacquiao's comments abhorrent, strongly opposes discrimination of any kind. pacquiao is out now. does not have the nike endorsement. we don't have a dollar figure on what it was, but it's in the millions, no doubt. no doubt. right now nike not hurt by, that up half a percent. we've got breaking news. this has got to be a first. got to be a first for a presidential election. in my hand is a cease-and-desist letter flying back and forth in the last couple of hours between the presidential campaigns of donald trump and ted cruz. this one is written by donald trump's lawyers and says to ted cruz, you better cease and desist running this ad that lies about trump's abortion stance. the billionaire has sent
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senator cruz's campaign the cease and desist and threatens a lawsuit. cruz says bring it on, donald, bring it on. that's not the battle that could change the fabric of the 2016 race. the republican national committee has now fired a bazooka at the billionaire refuting his claims today that the debate crowd on saturday was filled up with lobbyists and donors that weren't fans of donald trumps. this in response to the many moments that donald trump said after he was booed, you guys are just booing because you're for jeb or you are for cruz, right? and, of course, they released a statement saying the crowds make up could be trump's own fault. the rnc says each campaign was given 107 tickets and wrote campaigns organize their ticket holders, select their attendees and ask them to be vocal supporters. it may have been the case that some campaigns, read trump,
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execute this more thoroughly than others or choose not to do so at all. they give about 600 to the candidates, the remaining ticket given to cbs or south carolina republicans gratis around there. i'm joined by brad blakeman, former deputy strategist to george bush, and the cease-and-desist letter which has a lot to do with the fact that donald trump got booed or was yelling about ted cruz. what does this say to you? has this ever happened in a presidential election before and does it hurt the republicans? >> no, never happened to my knowledge, but this is a prop. this san attempt to get earned media and worked very well. ted cruz advanced this letter by holding a press conference and showing it and talking about it, and he talked more about the cease a-and-desist order and the threats by donald trump.
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trump is a phenomenon, defies political gravity and gets away with it time and time again, my feeling is we haven't heard the last of donald trump before saturday's primary. liz: jessica, no cease-fire between ted cruz and donald trump nor trump and the rnc nor is there cease-fire between hillary and bernie sanders. bernie sanders is now in the latest polls almost in a statistical dead heat. we can show some of the polls. this has now taken on a life of its own for bernie sanders. what do you see that we should all be seeing when it comes to this particular race? >> certainly, i think, there's really a revolution that's going on in both parties. and we see that with the trump support and see that with the bernie sanders support, and we have gone now in the last six months from a situation where everyone said gosh, this is going to be anointment of bush and clinton, what does it mean for political process around
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what's happening in the economy and with our security and all these other issues, to having incredibly wildlife lie debates? booing at a presidential debate, i've never heard of such a thing in my life. much less having the incredible conversations going on about what is happening to people and individuals on the ground and having that motivation that was lacking in the last presidential election. liz: brad, jessica is right, we haven't seen this before. they may not like the comparisons but donald trump and bernie sanders came in second during iowa and the people are saying that was iowa, now get to new hampshire. they did well in new hampshire and suddenly looking at all that's happening and look towards south carolina. trump looks like he's going to get south carolina and bernie looks like he's getting nevada. this is turning into a fascinating situation. >> it is, it's more real for bernie versus hillary. it's a two person race and bernie is going head-to-head against her.
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a lot different with donald trump. he has a lot more than 40% of the votes. the people giving trump the pathway to which he can go to the convention with a minority of votes and claim victory. if this continues, it will be a brokered convention for both republicans and democrats. liz: wow, jessica, do you see that? as a strategist, are you gaming that? trying to figure out how that should all go down? >> it's really fascinating, particularly because the republican rules and the democratic rules for delegates and superdelegates and how all these things work are so wildly different, and huge changes made to the rules at the last convention here in tampa for the republicans. so we're looking at a scene that we haven't seen. talk about the old school smoke-filled rooms and incredible numbers game. nate fill ber has a piece out what the under-over is for each
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state that clinton and sanders need so that sanders can even come close to getting the nominee? or at least having some say in what the platform for the democratic party is going forward. it's really a fascinating -- if you're into running numbers and math, this is a fight where we haven't seen since decades. liz: my own children are involved in this, and watching it every single day, and they're young. i say look away, look away. [ laughter ] >> great to see both of you, brad blakeman and jessica ehrlich, are we going to hear and the plaintiff calls ted cruz? keep it here for all your 2016 coverage. fox business is live saturday february 20th for the south carolina primary and nevada caucus. coverage starts at 6:00 p.m. eastern. gotta watch. closing bell, 18 minutes away. you have an s&p 500 that is three points below its high of the session, which was 35.
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so we're looking at a pretty strong day with the dow up 256. could we see stocks up for third day in a row? and despite the green arrows right now, hasn't saved many of wall street's most famous or infamous names from losing out on biggest calls from dan lowe to nelson peltz to bill ackman, who is getting crushed the most in the 2016 market melee. charlie gasparino breaks it down for us, he's here next.
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. liz: we've got this breaking news. just moments ago, president obama announced the brand-new creation of a new cybersecurity action plan with former national security adviser tom donnell and will focus on
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government security along with the ceo of ibm. he'll be there as the co-chair. it will be focused on business cybersecurity. and yes, for those of you who are not missing out on the irony of all of this, coming on the day they're trying to tell apple to be less secure, the department of justice saying open the one phone of the recent terror shooting. it's a fascinating push me, pull you over the issue. >> charlie over to you. >> what power does the committee have like apple? zero. liz: they're trying to tell businesses to be more secure and saying to apple, open up the security, little crazy. >> telling businesses to be secure, one of the problems with apple is security. they want to be able to see who's using the products. isn't that the thing here? liz: that's what the government is -- everybody is worried the government is going to give an inch and take a mile.
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>> what's fascinating about apple is the closed architecture of the system, business model is never to let anybody in. that's jobs -- that's inculcated into their corporate culture, to let the government in would be a huge step, i guess a violation of that culture. liz: tim cook says no way, we're absolutely not doing it, and the slaw on apple's side. let me get to this, you're looking at top billionaire hedge fund businesses getting crushed. >> activist hedge funds. liz: the guys who yell at companies and say do this, this and this, and the company says no. these firms are down already 10% this year. you've got the big names. >> we looked at three names, some of the numbers are hard to quantify, they're not public. we looked at bill ackman, a lousy year at pershing, down something like 20%. he's down another 10%. we looked at nelson peltz,
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interesting, smart guy, down 15%. daniel loeb was down 3%. he's having a better than average year, beating the indexes. what is activist hedge fund? it does more than short the market and make plays. he goes out there and he actively pushes management to change. over the last couple of years, these firms have done very well and scored victories, particularly last year, nelson peltz scored very big victories with dupont and other cases, carl icahn has big victories, if you look at the record now, what market players are starting to see are cracks in the armor or whatever the cliche is, they are seeing them starting, starting right now to underperform and what they say is look for this to continue, this is a hard business to replicate in this type of market, this volatile market, which is much more, right now,
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this is a trading market. this would, in my view, this market would, if he could manage outside money again, this would favor a steve cohen who likes to trade a lot as opposed to a firm that takes big positions, advocates for change and waits for that company's numbers to change. that's what we have right now, and i'll tell you, corporate america would like nothing more than to see the activist being called to the carpet and having their numbers reflect this because corporate america is no fan of nelson peltz and dan loeb and the folks telling them what to do. dan's numbers look pretty good. if those are his real numbers, we talked to people close to the number. they say 3%. i heard it's down 10%. we shall see at the end of the quarter. liz: and then you've got paulson. john paulson, who his holdings showed he sharply cut physical holdings in gold two months ago, ahead of the biggest gold
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rally that we saw in four years. got to be annoyed by that. >> he's not quite an activist. liz: sometimes he separates that. >> a lot of the activists are in fannie mae. let's face it. ackman is part of a lawsuit against the federal government saying they're basically stealing the profits of fannie mae, putting in the federal treasury. fannie mae is in conservatorship, these things should go to the shareholders. that lawsuit has been so far unsuccessful. fannie mae, if you see a stock chart is mired at $1.30. the activists in the play as well are getting killed on that one as well. liz: charlie, great to see you, they could be like buffet and buy stocks that look cheap. we'll be right back. stay tuned. can the rally hold on and maybe add a little?
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period. . .
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liz: five minutes to closing bell. let's go to new york stock exchange. adam shapiro with a lot of winners. >> a lot of them. one will sound like a winner. oil above $30 a barrel. chevron enjoying this rally up, liz. look at that. up three, up 4% right now. chevron having a very big day. big winner on the dow also included boeing. we talked about boeing yesterday but the big issue the ceo saying profit margins return to double digits in five years. investor believe him and they like it. back to you. liz: adam, thank you very much. what recession? economic data has a lot of question. first we have three-day rally of 2016. ward mccarthy chief economist at jeffries and former fed head and sean o'hara. good to see you both. ward, the fed minutes came out
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and said they were nervous about january continuing rate hikes. yet today we got economic data. we can show some of it here. among them better industrial production numbers. a little bit of a question on lower energy costs.
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liz: sean, you invest no matter what is it going on. energy second r select sectorsside ir. oil is up today. buffett is making energy plays right and left. tell us what is behind your thinking here? >> liz, thanks for having us on. we generally like the qs, because it is look@subpoena 1000 or wilshire, they focus on sectors, making sure sectors are allocated. qs is broad based index. apple, netflix, google, what used to be alphabet, comcast, gilead. all names and fastest growing sectors of society. they don't pay attention. they are sector allocation.
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what most people don't know, qs, nasdaq 100 are growing revenues, earnings, dividends, more than double rate of s&p 500. if i give you two-ways to play qs as broad-based play, qqq is one. one our products would have downside protection. both use same basic broad-based index. pay attention to broad markets and focus on individual companies names within the indexes. liz: closing bell is coming up in a second. ward says no recession. we'll put sean's picks up on claman. "countdown to the closing bell," we're down. i hand it to david and cheryl for final lap. >> this is it, liz, thank you so much. david: bring it on. ted cruz is urging donald trump to file what cruz is call act frivolous lawsuit. we'll explain. >> new polls ahead of crucial voting in south carolina and nevada three days from now.
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find out who is on top and who may be in trouble. david: privacy versus national security. apple is refusing to help the fbi unlock an iphone used by one of the san bernanadino killers. ceo tim cook claiming this would have dangerous implications for all iphone customers. we'll hear from both sides on the issue. >> but first, probably making money again today. seeing major rally on wall street. dow and s&p, first three-day gain in about six months. [closing bell rings] cheryl: big story today, david. oil. david: i love when all green all green arrows. all w 30tockendein t


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