tv Countdown to the Closing Bell With Liz Claman FOX Business April 30, 2015 3:00pm-4:01pm EDT
>> are farming more important than fisheries? >> when we choose fish over people, that's a problem. >> probably is, melissa. not enough water to go around. not for the farmers. smelt. back to you. melissa: that's all we have. dow down 200 points. "countdown" starts now. cheryl: a rough day for the markets. also, a lot of news to cover on the next hours of fox business. what's the root cause of riots? and what do they cost cities in terms of rebuilding, police protection, curfew? we have answers for you. even peaceful protesters can strain city budgets. what do the presidential hopefuls say the solutions are? we're taking a look. the fight of the century taking place in vegas this weekend. it's paying huge dividends for advertisers and sin city. we'll catch up with the mayor of las vegas.
we'll be joined by gavin. ma layoff companies vice chairman. (?) a sea of red. session lows for the dow industrials. weak earnings. one of the issues. gdp didn't help with that reading. it's the last hour of trading. anything can happen. let's start the "countdown" ♪ cheryl: hello, everybody. i'm cheryl casone, in for liz claman. traveling to omaha for the berkshire hathaway meeting. breaking news. u.s. navy ships are now going to accompany us flagged vessels transiting the straight ostrait ofhormuz. we'll have a bit more on the story in amoment. also in this hour, blake
burman will break down how much the baltimore riots are costing the city of baltimore. nasdaq adviser -- break down all the important market data coming out this week. and also, mark newton standing by on the floor of the new york stock exchange. what traders are talking about ahead of the big close today. chris has the biggest action from the pits of the cme. and allen is monitoring energy markets down at the imex. our top story right now, businesses in baltimore are still recovering from the riot that shook that city earlier this week. retail shops and smalls were looted and closed while the 45,000 seats at camden yards left completely empty. orioles win over the white sox yesterday. riots have been extremely coste. 1992 riots in los angeles cost an estimated $770 million in insurance losses. how are businesses in
baltimore faring? as you look at those numbers. 1967. detroit, 42 million. now 295 million in $2,015. again, la hit once again in 1965. so this is a big impact for the budgets of cities. and we don't know the numbers yet for baltimore. but blake burman joins us to give us a sense of what the city is facing today. obviously, there's a lot of rebuilding. it will take time, blake. blake: that is exactly right, cheryl. we've been speaking to employers throughout the day here. one of the patterns we've heard is how the week long 10:00 p.m. to 5:00 a.m. curfew has impacted them already. a barbies owne barbusiness owned his bar that seats many people is projected to lose 14,000 a week. because they asked to close early, his
bartenders aren't taking home as much. a couple hundred dollars a month. another manager of a restaurant who we spoke to on tuesday told us then his worry was the week long curfew and how that would impact late night food orders. now we called them back earlier today, they told us indeed business has been slow. the empty camden yards ballpark during the baltimore orioles game has been well-documented. this will impact the baltimore ravens who aren't in season. they will refund those who bought tickets for the game they canceled. governor hogan was asked on tuesday how baltimore businesses would be impacted in the long-term. he said it would not be easy to get businesses back. the property casualty insurance association of america. how much will this cost? they said way too early to tell.
cheryl: you're talking about wages. you have no idea what that will be. aren't the kids coming out of school and coming to look at the nation's capitol. isn't that starting? >> certainly a beautiful time in this part of the country. when we were there in baltimore on tuesday, going into a lot of restaurants. they told us their capacity was about at 50% on tuesday. and that was, of course, the day after monday night when a lot of rioting took place. this was specifically in downtown baltimore where we were. those were just a couple of examples that's throughout the city in parts. cheryl: great stuff covering that story. blake burman out of our washington, dc, bureau. let's get to these markets right now. rough day for the markets. the numbers are heading sharply lower. second day in a row that we've seen this type of action in the last hour of trading. there was data showing a sharp slowdown in the pace of economic growth in the first quarter. not a good gdp number.
crude oil hitting higher. touching a new 2015 high. that's the highest level since december 12th. what's the trade as we head into the month of may? you know the old saying -- i never really bought it. let's get to our floor show. traders at the new york stock exchange. the cme group. the imex. and nasdaq director. i want to start with you. that gdp number was a rough number. i'm seeing some estimates that the second quarter is starting to look negative as well. >> yes, the first quarter gdp number was very, very soft. came in way below expectations. there is a fear that perhaps it wasn't all weather-related, which was the blame. but that we may see spiller effect into this next predicted number. cheryl: we hope not. you can't blame the weather. that's what i hate to
hear. here's the thing that i was looking at. in particular with regards to the dow, we're in the middle of earnings season, the question is, if you don't have growth, how do you have earnings? if you don't have strong earnings? how do you hit market highs? it will go the other way. we're seeing that today. >> we've seen a revenue recession earnings. revenues have been disappointing. it's been going straight down. that's troubling. markets are somewhat resilient. slowly, but surely, you see these groups fall by the wayside. the biotech stocks. the semiconductors. we're at pretty critical numbers. health care which has led the entire year will be one of the worst performing sectors for the month of april. whereas energy has been the best. energy which had underperformed dramatically is now showing signs of strength. part of this is normal. the indices are still in
good technical shape. we've seen the biggest decline in the dollar index in almost four years. since april 2011. this month however has been one of the worst months for the us dollar. now the us ten-year back over 205. cheryl: that could help us companies. not for this earnings reporting season. maybe the next one. chris, we were just showing the s&p right now. we're pushing session lows right now. the low 285 or below that on the s&p. >> yes, we actually have a target back at the key support level of 2040 for taking off much of our position. we think it will be range-bound. we will be adding to the short if it dips below that level. the key action is just the action of the futures and how previously last quarter, going into the close, you would have a series of higher lows, higher highs.
you would have strength going into the close. the most recent trading sessions, lower lows and continuing lower highs. and so all these failed rallies going into the close makes for a week sort of culture. a bias on the floor. a lot of these traders are starting to finally shift the reverse. they're not getting run over at the close by going short. so look for a 2040, 2050 range by end of next week. cheryl: wow. another bearish call. allen standing by. oil prices. we've been ticking up. tick up. here we go with oil. right in the summer driving season. how do you feel about the trade? >> i'll be bearish on crude oil also. i don't think we have much upside left. a lot of news in the marketplace. bullish news. gotten us to this level. overbought territory. 6157 as a top for crude oil. after that, down it goes. i think we'll show below $50 again.
cheryl: miles, you're with me on set. one of the things you had been looking at had been oil. we're still at historically low levels. a lot of people are scratching their heads. but we have stability in oil right now. >> it's been the last rebound off the session lows. we're living in this different new paradime. you know, the million dollar question is, are we going to continue to trend higher? or will we move around current levels which would have big implications, as we've seen in europe with the deflationary environment they're dealing with. and also while it could be seen as a positive for the consumer here in the us, we'd like to see more of that. it also has negative respects from capex on the corporate side. cheryl: we would like to see the consumer get back in the game. we're not seeing that. the markets are in part reflecting that. we're sitting at session lows. in particular for the dow jones industrial average. i mentioned this a few
moments ago, the s&p as well. 17,785 on the dow. again, as we move into the close. fifty minutes in trading, guys. here we go, another rough hour for all of us. thank you so much. my floor show was wonderful today. i wish the markets were wonderful. see you back here tomorrow. closing bell, don't go anywhere. forty-nine minutes to go. a lot is happening. we'll be looking at other stories. if you're thinking about a last-minute trip to vegas. you don't want to look at the markets right now. i get you. i hear it. you better have deep pockets. hotel tickets. the mayweather pacquiao fight costing a lot of cash. we'll ask the mayor of las vegas what the fight of the century means to sin city's bottom line. and san francisco gaming company glue mobile known for its ties with kim kardashian and katy perry. big boost today. it has nothing to do with a celebrity either.
♪ cheryl: time now for a fox business stock alert. shares of taser rallying today after -- as police action gains more scrutiny. taser may gain from potential equipment upgrades, including body cameras. a lot in the news. and taser stun guns. taser stocks opening up over 8%. thirty, 20 is the last trade. a little more than two bucks. an 8% jump for the stock. this stock is up 15% year to date. take a look at taser. so what happens in vegas tomorrow is not going to stay in las vegas. the whole world is eagerly awaiting saturday's big fight. the mayweather pacquiao fight. this fight expected to generate $400 million in worldwide revenue. everyone is cashing in on this fight from
hooter's, the restaurant chain, to athletic apparel companies. who will take on the title of boxer of the century? let's bring in gavin maloof. maloof company's vice chairman. and carolyn goodman to tell us what's at stake. i have to start with you, is there a hotel room left in las vegas? is there a ticket for sale left in las vegas? >> no. but the goodman's have a few extra beds left in their homes. cheryl: got you. which i'm sure you'll sell for a good price. let's talk about this. this is an amazing amount of attention, even for vegas standards when it comes to big events. (?) this has to be a huge economic boost for the city. what kind of activity are you seeing in vegas? >> we have 41 million visitors a year coming. and over 160,000 hotel
rooms. you can imagine with the great restaurants, the shopping, the great climate, everything, and the ease of getting around our city. it's just -- it's so enormous. we have so many great shows and performers that are here. the impact as you mentioned 400 million is going to be phenomenal for us. but we want people to have a grand time. we're prepared for this. we are fully staffed. our police will find it the best weekend ever with no issues, hopefully. what an we're doing with big events. huge events. massive events. and we have the electric daisy. we have na nascar. we have so many things going. we've been home to great fights. >> gavin, you have to wish you still owned the palms. come on. are you dying over this weekend? it will be incredible. >> well, it's incredible. we're actually very excited about our new
product. never hungover. we've seen a 700% jump in sales, prefight. who knows what happens from here on out. but it's incredible. the sales that we've experienced with our never hungover. cheryl: you think it's because of the fight that you're seeing a jump for your product. so i don't get a hangover in las vegas, is that the deal? >> that's right. we prevent a lot of hangovers in las vegas and elsewhere. because of the number of people that are coming in, it's staggering. my assistant jj made a deal with floyd to buy tickets. and he's currently selling those tickets for seven times face value. everybody is cashing in. everybody is doing well. the entire city. cheryl: you're kidding me. the face value of those tickets is several thousand dollars. right? the face value of these. >> depends on where you're sitting. if you're on the floor
10,000. charles: three gran >> three grand if you're up in the stands. >> $1,500 the nose bleeds. seven times the face value. i don't think we've ever experienced anything like this in sports history. cheryl: carolyn, what has led to this? boxing in las vegas have gone hand in hand over the years. >> it's the excitement of having this enormous fight here. (?) over the years, the build-up, five, six years. and having an undefeated champion in floyd. the greatest of the greatest. there's a passion in the world for manny pacquiao. how he's so popular because he's a legislator in the philippines. we love having them both here. we've had great fighters here. muhammad ali. sugar ray. this is just something
we do and we love it. (?) but we love the fact that this is going to be the best of the best. cheryl: gavin, i know you have your own product. because you're a businessman, first and foremost. as is your family. famous for your business practices. you look the sponsorships. you have to be astounding. paramount pictures. weinstein company. they're paying millions of dollars to have their names -- even the shorts of manny pacquiao are going for millions. this is incredible. have you ever seen something like this before? >> well, you've just said it. we've never experienced anything like this ever. and look at the gate. with the 74 million-dollar gate. there's never been a super bowl or world cup or any event that even comes close to that. so we're in uncharted waters. look at the nightclubs. you have tryst. and excess. and draze. they're all packed. (?) it's great for the city. great for our economy.
we're pleased to have this fight. and we're pleased that floyd kept it here in las vegas. cheryl: real quick to you each of you. gavin, who are you rooting for? >> floyd all the way. charles: what do you say? >> my husband went for floyd. i'm for pacquiao. >> that was so politically correct. mayor of las vegas. gavin maloof. have a wonderful weekend. we can't wait to see the big fight. thank you, guys. let's get back to our markets. the closing bell, 38 minutes to go right now. here's a question for you. is dodd-frank regulation ripping the guts out of the industry? charlie gasparino has an exclusive interview with dan gallagher. that is coming up next. and why has one fund manager fallen in love with the unloved retailer, and there it is, j.c. penney.
cheryl: we're getting breaking news on the situation in baltimore. in particular with the case of freddie gray. the victim and really the incident that started all the rioting in baltimore. quoting the local abc station in baltimore that sources are telling that station, the abc affiliate in baltimore that the medical examiner has found that freddie gray's fatal injury was when he
slammed into the back of the baltimore police van. that broke his neck. this is the abc local affiliate. reuters is coming out with this headline. no evidence that freddie gray was injured during the videotaped arrest. you've likely seen that video on fox business. while also sources are saying the medical examiner found that gray's fatal injuries was when he slammed himself into the back of the police van. that broke his neck. we're getting more details. the local police investigation has been turned over to the state attorney general, the state of maryland. follow any breaking news and development we get out of baltimore, maryland. thirty-two minutes away. as we get into the market close. shares of glu mobile. gluu. the stock is soaring. that's a 24% gain. this is the san francisco celebrity-themed game
maker. chinese investment company, acquires 21 million shares of them. glu signed deals with kim kardashian. katy perry. i had the interview on this show. that stock getting a huge boost right now. well, the banking industry is under more pressure than ever these days. is there any relief in sight on other side? charlie gasparino is here right now. an exclusive interview with the man that may have the answer. sec commissioner, daniel gallagher. obviously, charlie, a lot of questions. >> the voice of reason. >> it's a hard job. >> listen, you know, let's be clear. you're a republican. >> yes, sir. >> you're not a big fan of dodd-frank. >> i do not like dodd-frank. neither do the banks. >> yeah. charlie: is there any chance that the genie can be put back into the bottle? we're four or five years into it.
>> right. charlie: most of it -- half of it has been implemented. right? >> at the sec it's only about half. charlie: every banker i know, ceo would love it to be replaced with something more manageable so they don't to have comply with so many rules. really that have nothing to do with the financial crisis, by the way. >> right. charlie: what do you say? >> there's always political change in washington. i think we should take a hard look at whether the whole statute should be eliminated. you know, the narratives that underlie dodd-frank, wall street greed regulatory failures, of course, some of that in the crisis. but it wasn't the cause of the crisis. we know it was failed federal housing policy. charlie: super low interest rates. >> monetary policy. these things cause the bubble. we've never had a searching inquiry to the actual causes. charlie: so let's break it down. we would need both houses of congress to be republican.
>> right. charlie: and you would need a republican president. >> you would, absolutely. charlie: if that happens, which a good chance of that, you think it goes? >> i think they'll look hard at it. and they should. this is a fatally flawed statute. charlie: so paul ryan and the powers that be want to let it go? >> they should. i hope they're watching today. charlie: when you drill down to the regulatory apparatus in the banks right now, it's causing job losses. you don't see it with waves of layoffs. let me give you an example. barclays is shopping its brokerage department. maybe 1,000 people total. 200 brokers. barbarclays is coming under a lot of pressure. there's another layer of hoops they have to jump through. >> that's right.
charlie: clearly they need to eliminate costs. will we see this keep going on for the next five years, where banks, these foreign subsidiaries squeeze down the balance sheet? >> there's a rule that mandates new holding companies for the subsidiaries of the holding banks. the fed wants to treat them like bank holding companies. it doesn't make a lot of sense because they're not. they're brokerage firms. not banks. they're not taking deposits and making loans. they want to be treated like banks. when you add bank-like legislation, you know, you can't afford to run it. cheryl: they had the protection back in the day. good thing at the time. the financial crisis, now it's not. it's not working anymore. >> yeah, it's apples and oranges. charlie: you think they'll contract more, the deutsche banks, the barclays. >> they will. they will. when the fed implements the rule under
dodd-frank, they don't do a cost-benefit analysis. they don't do it. very clear about it. charlie: has the vocal rule -- now, that's the thing that says you can't do proprietary trading. using your balance sheet to take a trade. has that been implemented totally yet? >> i believe july is the implementation date. charlie: the last time you were here? how long ago? >> a year or two. charlie: you said within months of that it wouldn't be implemented. it still -- >> i'm here to say, i'm correct. cheryl: victory lap here on the show. >> i believe the fed is given another extension of another year. not prop trading, but other funds. some speculation there will be more. it's up to the fed. it's not a multi-agency vote on the extension. charlie: but it's still not -- >> it's still not in place. the impact has been felt tremendously. it hasn't been formerly felt. >> volcker is talking about a new way to
regulate the markets. can you explain that a little bit? >> he has a plan to rethink the regulatory structure. dodd-frank said it would think the regulatory structure. and alphabetize -- >> we should throw up a chart. of what banks -- how it's regulated. it looks like. if you see it. and i have it here. cheryl: we don't have the chart. charlie: if you look at this -- cheryl: look at charlie's notes. >> raw shock test. charlie: that's what they have to supply with it. >> i if you the put it on the sc website. cheryl: thank you so much for coming. really the voice -- i feel like i had the voice of reason in front of me. which balances out -- all right. thank you very much. great interview. >> all right, the closing bell, 26 minutes to go.
we'll have the latest on the stock sell-offs. watching on wall street right now. investors have thrown in the a towel for jcpenney. one fund manager says it's the time to buy. get ready for weekend with warren. liz claman winging her way to omaha. interviews with insiders. and a prime time special. wrap up the entire meeting. warren buffett's america. an exclusive interview with warren by charlie and bill gates. we'll be right back. ♪
flash. official bernie sanders is taking on hillary clinton. his announcement to run for the democratic nomination. he will fight a sea level of income disparity. and a finance system that's a disgrace. may the force field be with you. sounds like science fiction. it's not. boeing won a patent for a protective force field that could stop vehicles from being blown up. looks like this. it quickly throws up a plasma shield that would protect the vehicle from that blast. no word on how soon the force fields that could become a reality. it is the fight of the century between buffalo wild wings and hooter's. the cost of showing the fight runs over $5,000 per restaurant. (?) buffalo wild wings says that most of its franchisfranchisees will not be
streaming it because of the cost. hooters said most of its franchises will. they will charge 30 bucks for the cover charge. u.s. navy ships will now accompany us flagged commercial vessels that are passing through the strait of hormuz. this response comes after iranian navy vessels fired warning shots. let's bring in peter barnes. on capitol hills with the latest developments on this breaking story. peter. peter: that's right. the straits of hormuz are the top of shipping lane for a lot of the world's oil produced in persian gulf countries. this in response to iran firing on and detaining a cargo ship flagged in the marshall islands, operated by maersk. the maersk tigris.
they're detaining the ship over a 10-year-old legal dispute. the us officials say that this is harassment by the iranians as part of a response to the us support of the saudi airstrikes in yemen against rebels that are backed by the iranians. and also you will recall that last friday, iranian patrol boats also surrounded a us cargo ship in the straits. the us sending its navy now at least on a short-term basis to help -- to escort us flagged ships in the straits of hormuz. cheryl. cheryl: thank you for bringing us the latest. peter, thank you very much. >> you bet. cheryl: a hoarders last will and testament found under a mountain of trash. a million dollar estate to two actors he never knew. >> was absolutely covered with cobwebs and would remind you of a show where you would
have dracula involved. jamie: i mean, my house might sometimes be untidy. are we talking about more than that? >> we're talking about a hoarders show. the whole place wreaked. >> jamie's house is never untidy. "strange inheritance," monday through friday right here on the fox business network. great show. well, the closing bell rings. we have now about 17 minutes to go. jcpenney stocks dead money? it's still below ten bucks a share. one fund manager who is a believer. okay. he'll make his case. we'll see what he says. and it's a "countdown" to the weekend with warren. liz claman on her way to the wiz of omaha meeting. she will sit down with matt rose. the chairman of buffett's biggest company. he was once considered a likely successor to
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why he's shrugging off the latest gdp numbers. nicole let's start with you. >> it's earning season. big sell-off 200 points. very heavy volume. which is notable. movers, which is taser. multi year high. 7.5%. particularly with all the news we've been hearing about watching police and the like. yelp under pressure. that's down 24%. and the big behemoth, the 60 billion-dollar company, that's colgate palmolive down 2%. they did see profit on the rise. revenue was troublesome. and concerns about the dollar going forward. strong currency headwinds to be specific. cheryl: the dollar in the headlines. woulwe'll see you in 11 minutes. todd, what is the most important you're looking at? >> we're absorbing what happened after the fed. stocks a little bit lower. gold getting crushed. yields higher, and treasuries. all of them leaning towards the fed that may
tighten or hike rates sometime this year. i'm not sold on it. and if you look at the shortened fed fund futures which tell the whole story, they aren't moving either. right now, the market is reacting to some liquidity issues. also acting in accordance with what the fed says and not what the fed does. ultimately, i think these prices will reverse themselves as we head down the line and into the summer. cheryl: almost like we're getting into the reality that the fed can't keep the interest rates lower forever. thank you so much, todd. well, the latest gdp estimates fell way below estimations. the fed says the economy needs improvement. my next guest says don't worry about it. the market looks to be in great shape. he may regret saying it. the consumers are going to step their spending. brian perry. okay, brian, you said this to our producers before today's big sell-off. so, you know, fair and balanced here. what do you say about the sell-off in particular today?
>> you know, honestly i like days like today. this gives us an opportunity to really find some things that we like at discounted prices. like, if you can kind of get away from the headlines of the day and take a little bit longer focus. things are getting much better. the consumer spending is going to start to tick up as the year progresses. with that, q1 is kind of behind us. and we think q2. q3 gets significantly better as we go down the road. days like today, if you can pick up stocks on a discount, it's a great way to do it. cheryl: this has surprised me. not just the gdp numbers. also the fact that we've had low gas prices. oil prices. et cetera. it didn't really translate to the consumer. people are nervous about spending. they're still nervous about their own net worth, their home, et cetera. what do you say to the concern of the consumer? >> i think it's justified to a certain extent. i think the job picture
is getting better. i think the wage increase will come over time, that we've all been looking for. there is a lot of good news out there. it will take time to work through it. i think with the lower oil prices, what you've seen, you have an increase in some discretionary spending, especially on the lower end and middle income consumer. but they've been smart about it. i mean, they're not going out and spending it and increasing their debt. they're saving it. if you look at the history of consumers over time, there's only going to get at a point where they'll save so much. then they'll start to go, okay, look, i have enough in the bank. i've paid down my debt, a little bit. now i want to reward myself. we think there's some companies out there which will benefit from that. and kind of spans a number of spectrums that i think the consumer comes back -- cheryl: okay. we've been teasing your interview. here we go. you say if people are ready to spend some money, they'll go to jcpenney. >> you know, look at what they're looking
for. they're looking for value. and they're looking to reareplace things that have worn-out. they want to feel good about the purchases they make. and not spend a lot of money to do it. jcpenney is coming back from a really bad image. management is running the business effectively now, we think. you know, they're increasing their store presence by adding stuff like sephora in there. the jewelry segment is doing well. it will take time to come back. we think it's reasonably priced. cheryl: you also like jetblue. i think that's interesting. airlines have been on a tear. if oil prices go up, won't jetblue feel that a little bit? >> you know, i think jetblue -- i think there's a number of airlines that have done exceptionally well. jetblue is a significant player. you know, as they move upstream, i think they capture additional clienclientele, it's really
an olli oligopoly. the numbers that are coming out from jetblue, they're doing a fantastic job in knowing who their customers are and treating them accordingly. and they'll get rewarded for that. cheryl: you made your case. good one. jetblue. jcpenney. good picks. core portfolio manager. brian, thank you. on a day like today, brian's picks are probably a little cheaper than they were at the close last night. closing bell, six minutes from now. here's a question. do you want to invest like billionaires like carl icahn and bill ackman, but you have no idea. you don't have the millions they have. you don't know what they do. we'll tell you how you can be these guys if you want to be. or at least invest like them. speaking of billionaires. welcome to the weekend with warren. liz claman is on her way to talk to the oracle of omaha about his
investment advice. also exclusive interviews with berkshire hathaway insiders. including an exclusive sitdown with his kids. howard. nice guy, by the way. susie. peter. all of them are going to be joining liz. she'll be asking them about, well, growing up off it. also what the roles are today at berkshire. and the buffett legacy. "countdown" to the closing bell is ending. ashley is in the house. be right back. ♪
so if your business deals with the unexpected, hp big data and cloud solutions make sure you always know what's coming-and are ready for it. make it matter. >> less than two minutes from the close. ashley webster and myself. >> sell in may, go away. how about ape? >> april. last trading day of the month. let's go to nicole petallides at new york stock exchange. >> linkedin is a loser today.
mylan and biogen, for example, down 2 1/2%. mylan down 3%. i have to mention the russell two. russell really broke down. that was down 2%. >> we're looking at yelp. that stock got crushed along with the market. what is going on nicole? >> no doubt. with yelp, talk about they gave forecast for revenue fewer than expected advertising accounts. that put yelp under pressure. down almost -- 24% on the close. >> oil heading the day and month by the way with pretty nice gains. >> in fact biggest in six years for monthly gains. new 2015 highs. you could see there with a winning move. interesting because exxon came out with their numbers. looks like the energy stocks will take off in the morning. but they seemed to falter later in the day. cheryl: we should also say real quick as we move into the close, the low was is 7,860 on the dow.
[closing bell ringing] really a rough day, ashley. here we go guys. the bells are ringing on wall street. look out stocks are finishing up. as we mentioned looking as we move into the close, that the, dow, s&p, all hitting new lows. s&p in particular, taking a hit, ash. as you can see numbers on the screen. not quite, we were down about 250. >> we were. we're still positive about it year. goat a little close for a while. cheryl: there you go. "after the bell." what's up. starts right now. ashley: let's get into stocks. jason pride. john burke of burke financial strategies. whether it pays to sell in may and go away, or april