>> so when trump begins to campaign, he's going to go out and say it's either me or you are going to lose all this. charles: jamar chase at the white house today was simple but he was happy to be at the white house and i think that's what it's all about. >> i think so, too. charles: from one liz to another. claman, all yours. liz: liz peek to liz claman. thank you. will the third time be a charm for the dow and s&p 500? two in a row for the nasdaq, as markets zero in on yet -- i know, unbelievable -- another day of records. solid earnings, popping housing numbers and the afterglow of $2 trillion in major trade deals with china, mexico and canada lifting wall street to new all-time highs. president trump is about to leave for florida at this hour to mark this week's two major economic pacts or parts of the pact for china but also to begin preparation for his impeachment trial which begins in earnest next week. he is, as we said, about to leave the white house and could stop to speak to the press at any moment. if he does, we will bring his

comments straight to you. that signing of phase one of the u.s./china trade agreement has companies big and small reacting so what we're doing is we are bringing back one north carolina so-called man of steel. he's somebody we spoke to back when the steel tariffs first kicked in. we were going to ask him about tariff kryptonite and how it hurt his business but how he also sees things changing now. wall street wizard tom lee just put together what he says are buckets of investments for any age. he's about to unveil his granny to gen-x stocks for you in a fox business exclusive. plus, the space race's next giant leap, and charlie gasparino about to let you in on yet a new chapter of the page turner known as general electric. less than an hour to the closing bell on a friday, where we might see another market all-time record hat trick. let's start "the claman countdown."

liz: all right. we've got breaking news on tesla. we want to check shares right now. they are standing at about $510, in the red by just half a percent. we need to give you the history here. after the opening bell, they were as high as $515 but now as we head into the final hour, what they are trying to do, you can sfree tee from the intraday, trying to climb up off the lows that were hit around 1:00 p.m. when news hit the tape that the electric vehicle giant is under investigation after more than 100 drivers complained to the national highway safety administration that certain models experienced quote, sudden unintended acceleration. the vehicles in question include the model 3, the model s and the model x that were made and sold from 2013 through 2019. that actually amounts to nearly 500,000 cars. what we are going to do is keep an eye on tesla throughout the

hour. let's check it here, $510.26 a share. in the acronym game, alphabet's entry into the trillion dollar valuation club may push out the popular tech moniker fang and replace it with faaam as in facebook, apple, amazon, alphabet and microsoft. those five are now the most valuable u.s. tech firms accounting for more than 17% of the s&p 500. we've got a mixed picture. almost everybody is green. amazon down just under 1%. look at comcast, hitting an all-time record high of $47.31 after the parent company of nbc universal unveiled its entry into the streaming wars called peacock. it starts with a free ad-supported service but it's got a bunch of other tiers to it. at the moment the stock is up just under 1%. investors have come to play as dave & buster's is on pace

for its largest percentage increase in more than a year, after news that a private equity firm, yes, you know it, kkr, has now taken a rare active stake in the arcade restaurant operator. dave & buster's up 11.25% right now to $46.76. we've got this breaking news. we are waiting for president trump to depart the white house as air force one waits on the tarmac at joint base andrews. the president will jet off for a weekend at mar-a-lago after quite a busy week at the white house. the signing of phase one of the china trade agreement, the passage of the united states mexico and canada trade deal in the senate, and the beginning of the impeachment trial in the senate as well. now those two trade deals done, team trump and the president turning the attention to another major trading partner and that would be the european union. there is tension, edward lawrence, already on that front, is there not? reporter: absolutely, liz. high stakes drama here but we

got a little peek today into what the president is going to use for his re-election bid. you got it, it's all about what you mentioned, all about the economy. listen to white house economic adviser larry kudlow here. >> re-elect president trump for four more years and you will get lower tax rates and lower tax burdens. you will also get more reductions in regulation. you will also get additional trade activity negotiations and trade deals that will open markets. reporter: and the trade deals are part of that. on usmca here, the president is now waiting again on house speaker nancy pelosi, the ratified usmca is over in the house and needs a signature from a house member in power there before it can come here to the white house for the president to sign. you talk about trade. the european union now is the shift in focus for the white house and this administration. now, the eu has a new negotiator, commissioner phil hogan. he's trying to reset this

relationship and avoid tariffs on autos as well as auto parts. his boss, the new eu commission president, gave him a clear directive. listen. >> she has given a clear commitment that we need a positive balance and mutually beneficial trading partnership with the united states. she's given a clear commitment that we need to elaborate on how we can move a little faster in that direction. reporter: as we see this phase one deal with china implemented as well as the usmca, you are going to hear a lot in the first quarter about the european union. liz: champagne, cheese, fashion, who knows whalt else. thank you, edward lawrence. there is something we wanted to point out. i know there's a lot on the screen, on the ticker and everything we put up, but we want to point something out because it is let's call it a little strange. normally when stocks are in vogue which they are, spiking day after day after day with a lot of records, treasury prices tend to weaken and in turn, their yields inversely move

higher, as that sort of flight to safety government bond trade falls out of fashion. okay. that's happening. stocks are up as well, but guess what asset that should also be falling is kind of strutting the runway alongside stocks? safe haven gold. the yellow metal usually moves higher but when the stock market is in trouble. right now we do have gold moving higher and we have stocks moving higher. so what is the reason behind the market's version of stranger things? let's bring in our floor show traders. scott, shouldn't gold be down and are we way off in wondering if this is some sort of sign maybe that our viewers should at least heed? >> i didn't hear my name. liz: scott. yes. >> first of all, i say this. i only like gold in two scenarios. one is cover against inflation. number two, in case we've got armageddon. love him or hate donald trump, we don't have armageddon. my two litmus tests that have

kept me in good stead for the last 32 years are not qualified here. why is gold higher? sometimes your imagination is your own worst enemy. there are some technical reasons why i could see getting involved i suppose if i had to but then it feels like i'm buying oil at 63, 64 and only see 65, then 57. i don't want to be disappointed. i will put it down to this. i think there's a lot of folks that want u.s. exposure in dollars and they are going to buy gold because they think there is a little bit more upside in it, and a lot of times we have actually seen for the last six months, bitcoin kind of doing the same thing. i wouldn't buy it for those reasons either. so there's a lot of folks around the world that are piling into this because it kind of looks good technically for a short term here, but i also think they want to do the dollar play and they are getting mixed up about gold being a safe haven really because i could see gold sometimes selling off of the stock market. i think this is one of those things where your imagination is your own worst enemy. liz: that is possibly true, especially, guys, when we look

at the data. we got housing starts today for the month of december, actually home construction, at a 13-year high. this was no ho-hum spike. up 16.9%. we know that's a critical metric for the economy. tim anderson, gold is still oddly at a five-year high. do you read anything into that? >> you know, i just think it's a little bit part of the everything rally that we saw most of last year, where all assets are appreciating a little bit. we also hear from time to time there's chatter that there's gold buying out of china and there's also some actual talk that germany was considering raising or lowering the amount of single time purchases of gold from 10,000 euro at a clip to 2,000 euro at a clip. in 2017, they lowered the one-time purchase maximum from

15,000 euro to 10,000 euro. that story was going around in late december. i think that's what maybe pushed gold up to 1550 then. i haven't heard any acceleration on that story. but if it's out there, there could be some people that like gold that want to get it in now before the buy limits are reduced. liz: phil flynn, do you put any credence into -- okay, tim just called it the everything rally, but there's one thing that has certainly i guess you could say set up a little bit of a flashing signal. i don't know if it matters, but the percentage of losing unicorns or ipos has hit a high we haven't seen since the dot-com bubble top. what are you looking at? because i look at this, i see almost everything lines up on a very solid economy. you have detente between china and the u.s. that's a big driver, is it not? >> it is. i think this is what you have to look at in gold. look at central banks around the globe. last year, central banks bought

more gold than they have since they started tracking it in over 50 years. so central banks are looking at negative interest rates around the globe. they don't want their money sitting in something that's in negative interest rates. gold for them right now is a better alternative. you mentioned the u.s./china trade deal. one of the things the chinese just love to do is buy gold. they love to wear it, they love to store it, and there are concerns about the economy over the there, then you get some progress in u.s./china trade, the physical demand for gold by the consumer is going up. you know, when you have got a strong economy, the other thing we have seen when gold prices were low, we produce less but people are buying a lot of jewelry. when they feel good about the economy you also get jewelry demand. a lot of things are supporting us now. liz: i tend to buy in both gold and bad times, actually. >> makes you feel better, right? liz: gentlemen, thank you very much. as we pick apart -- we do this for our viewers because we want

them to be aware of beyond the obvious, but right now, pretty obvious the dow has lost nearly all of its gains and that was about 75 points to the upside earlier. we might have a record in jeopardy at least for the dow, which is now up just two points, with the closing bell ringing in 48 minutes. look at qualcomm. qualcomm hitting a 20-year high in this final hour of trade after the wireless chip giant got an upgrade from citigroup to a buy with a price target of $108. it's at $95.70. citi's earlier call was 89. citi says it sees upside to revenue and margins as the 5g race takes shape. qualcomm up 4.25%. up next, from generations x, y and z to the greatest generation, our next guest has investments for each of those age groups. tom lee is here in a fox business exclusive. he's going to help you make money no matter what your time

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president trump apparently was busy en route to joint base andrews to get on air force one en route to florida. the president did not take questions at the white house lawn or speak to reporters, but the impeachment trial against the president is expected to kick into high gear on tuesday in the senate. while he was on marine one, he was busy tweeting and he talked about the stock market with this tweet. heading to florida for big republican party event, new stock market record, jobs in the usa at all time highs. he's right for the moment, the dow just clawed back about 14 points to the green. let's look at bitcoin as an investment. i talked about this with charles during "making money" during his hour and we are watching this very closely because bitcoin is roaring into the '20s with the best start to a new year since 2012, rising 23% since just january 1st. while some might run screaming from the bitcoin band wagon, our

next guest is an aggressive buyer of bitcoin right now. but tom lee was also one of the very few wall street strategists who was bullish when it wasn't easy, during the bitcoin bear market in december of 2018. that may be titillating millenials but tom is here with gen x, y and z plays but he also has granny stocks. great to see you. happy new year. let's first talk about bitcoin. you are bullish and yet it has had a very nice runup. why? >> well, you know, last year was a good year for bitcoin, it was up almost 100%. but in 2020, there's some positive convergences. one is this thing happening when the miners of bitcoin, it gets cut in half, demand constant, price goes up. we have had geopolitical tensions which is also a tail wind. i think that we are seeing institutional interest pick up. i think there's things that are positive for bitcoin going into 2020. liz: it's a good investment for

whom? is it just a millenial gen x, y and z type of play? >> that's really where the prime interest is today but i think it's really suitable for someone who is interested in gold and maybe wants to diversify away from a pure gold type play. but bitcoin is essentially digital money. it's a good hedge but it's also, you know, an efficiency producer. there's a lot of productivity using digital money. liz: it's growing. let's be honest, there may not be widespread adoption but t therehas been a lot of money put into this. the big financial companies, they say, better get on board. is there a reason the big names in finance, maybe even the federal reserve and federal government, need to have their own cryptocurrency? >> yeah, i think there's a lot of factual support to what they're saying. today, the bitcoin network clears more volume than paypal or the discover card network.

in fact, it's the second largest payment platform after visa and it's close in size to visa, actually. liz: let me let our viewers know that president trump has exited marine one. he is now boarding air force one and as you can see, he did not speak to the media who had gathered there. at the moment he is heading to florida. any other news, if he makes any tweets, we will bring those to you because as he just tweeted, the market's at record highs, and they are. we are looking at what could be a trifecta of dow, nasdaq, s&p, still up six points for the s&p, record highs. let's talk about other stock investments when it comes to gen x, y and zers, the younger crowd. then we will get to the granny stocks. i like that title. >> yeah. well, you know, we are entering an interesting period where u.s. stocks have outperformed for some time, now we've got better economic visibility and i think people are kind of coming into 2020 thinking stocks are due for a breather but if history is a

guide, the next ten years could be quite good to own equities. we still like the idea of owning good quality growth names which are things like fang, but we have also created what we call thematic baskets to take advantage of things like millenials starting to buy homes, this trend in automation, as well as a shift toward asset-heavy businesses. liz: would you buy home builders? would you recommend that for the younger to 20 and 30 crowd? >> yeah. i think home building is an interesting group to sort of highlight now because home builders were at the center of the housing crisis ten years ago and housing starts have really been in a malaise but are finally starting to break out. i think now is a great time to be looking at home building and housing related stocks. liz: let's get to granny stocks. >> yes. liz: this for the greatest generation. have things changed? in the past everybody said that once your time horizon starts to get a little narrower, thinner, let's say if you are 75 or 85

years old, that you should just go to treasuries and just preserve the capital that you have. but if you believe that there is a continued bull market here, should the older crowd stay at least in some equities? >> yes. the old rule was you take 100 minus your age and that's your equity allocation. typically at that age they want to be more in bonds but with interest rates as low as they are today, it's hard to make the case that you can actually beat inflation owning a bond. i think every generation probably needs to be more long equities because it's a good inflation hedge, and they are still undervalued relative to bonds. liz: google, apple, cisco, facebook, paypal and ebay. isn't that a little tech heavy? >> they are but those are great quality near what you call network platform stocks. they built a good moat around their businesses and the multiples aren't demanding. these are suitable for a lot of

generations. liz: when you have treasuries yielding 1.83% for the ten-year, you might get a better yield with some of these. >> in fact, some of these have dividend yields that are approaching what you get on a ten-year bond. liz: good to see you. tom lee with genx to granny stocks. i like it. we will put them up on our facebook page. good to see you. thank you so much. closing bell ringing in 37 minutes. as you know, because we were right there in washington, d.c. on wednesday, the phase one trade agreement between the u.s. and china is just a little more than call it 48 hours old. you are about to hear from someone we first spoke to two years ago. his company manufactured the scaffolding for the restoration of the statue of liberty. back then, he was absolutely crushed by the onset of the trade war. up next, we are bringing him back to talk about life after tariffs and whether they hurt or helped him. what he sees now for his business. and ready for some pizza and

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gerri: i'm gerri willis with today's fox business brief. gas on a wild ride surging after the close yesterday on the decision to cancel its spinoff of its old navy brand. the shares cooling off intraday despite a mostly warm reception from the street. wedbush saying the removal of the spinoff reaction is positive. gap shares down right now. and moments ago, shares had

been down most of the day after the company reported a slowdown at its north american locales for the winter season. revenue for north american store location vail resorts 2%. stock higher here. [ inaudible ] upgrading shares of the snapchat parent to a buy and raising its price target by eight bucks to $24. snapchat up about 4.6% here as we head into the close. up next, a business tied directly in the u.s./china trade war returns to "the claman countdown" a year and a half after the business took a hit, talks about the surprising impact of the trade war nearly 24 months later. "the claman countdown" coming right back.

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as soon as they even talked about a tariff, we were seeing price increases and they were rapidly going up, and whenever you [ inaudible ] three days later even that price had gone up. there was nothing consistent and you know, we still haven't reached the apex. i don't know where that apex is at. liz: that is a steel scaffolding small business owner from north carolina who we found nearly two years ago just after the trump administration had slapped tariffs on foreign steel and aluminum, including canada and mexico and china. james howard's company builds scaffolding for projects all across the country including what you see on your screen, that massive restoration of the

statue of liberty. wednesday as president trump and china's vice premier liu he signed phase one of the u.s./china trade agreement, we thought let's bring back james to see how his business is doing now. nearly two years after we first heard his story, we welcome back james howard of howard steel. what happened since then to the price you had or you were paying for steel after you joined us back in april of 2018? >> well, we have really had a pretty good year. speculation of what i was speculating in march and all those price increases and stuff, it didn't have a big effect as i thought it was going to have. we just dealt with the situation, you know, you're trying to limit your inventory because you don't want to be too fat and you don't want to be too thin. you want to be somewhere close

to what it is, but as far as what's going on now, they've had like, i told you earlier, like five price increases since the end of october -- liz: just this october? >> this october. yes. and the last time you seen that many price increases in that rapid amount of time, is when trump announced the tariff. you know, it's my opinion, you know, really my opinion only but you know, the major mills, nucor, not to pick on anybody, but it tells them we've kind of got a wide open door so we're going to go up on the prices, or it makes it seem that's what you feel like. but on the other hand, when they

go up five times like they have here, then they feel pretty good about what's going on, and -- liz: i don't know why. i can say this. look at what nucor has done since the tariffs were first announced nearly two years ago. as i understand it, nucor is down about 75%, the stock. ak steel down 39%. then you've got steel dynamics down 27%. but let me get back to you and the effect on you. if i'm hearing you correctly, are you saying that they see an open door to just continue to hike prices and could you characterize that as gouging? >> i really would. i mean, metaphorically -- not even metaphorically, it's like steel is, you know, produced on rolling schedules and they will roll every six weeks, whatever particular item that is, and you create a market.

if they're telling you constantly the prices are going up and you see they're going up, hey, i'm worried to death, do i need to hedge, do i need to buy, then by pushing those rolling schedules out to where you might be instead of waiting six weeks, you might be waiting six months, so do i buy a bunch and then if you do buy a bunch, you know, the hedge just for price protection, and the market falls the other way, well, that's a bad feeling. so where the happy medium is, i don't know. but i feel good, and i deal with a lot -- steel companies or service centers are kind of like a soap opera. we all talk to each other. everybody has about the same sentiments. we want to buy but don't want to buy super heavy. liz: yeah. you don't want to be stuck, then with the price fluctuations, i completely get that. can you tell me if you had to

lay off any employees over the past year and a half? >> no, ma'am. in our area, charlotte, which we have a little bit of involvement, i have a pretty broad spectrum of customers. i don't just do stafld icaffold. we also do distributing, wholesaling and the other types of fabrication. but the housing business, it just went crazy. i'm still having that same problem. you can't get enough help, especially skilled help. they're not looking for that, you know. it's a new era so everybody is looking for something different, people that can do whatever so the business has been, for the amount of people that i got it's been more than i can do. now -- liz: that's good, though, isn't it? i'm hearing that because the economy is decent, much more

than decent, really strong, that you are getting jobs, you are getting projects, people are picking up the phone and saying howard steel, i need you, i need you for this project. what's your biggest project you have landed recently? >> i don't want to mention this company's name because, you know -- liz: okay. >> -- i don't know what the implications are. this just happened, gave me it was a pretty good job, $20,000 or $30,000 job like three weeks ago, then he called me back monday and said i need to duplicate that. liz: wow. >> of course, everybody, you know, when they decide to pull the trigger, i want it the next day. i said there's no way i can do it the next day. i can't do it the next day. but the problem is, it ain't the same price it was. i just bought it three weeks ago. i know, but the price just went up.

so do i, you know, do i sell it to him for what i bought it for a month ago? maybe if i had a lot of inventory but if i don't have enough inventory, i'm not sure how much inventory i got, i don't. liz: james, this is maybe a good problem to have. in the end, after all of this, how do you view trade wars? >> i still have a positive outlook. i think maybe in the second quarter we might -- it might soften it up. but this first quarter, the tariff, you know, that first phase of the tariff that's passing through, tell you the truth, i don't even know what it was. i was watching fox and i think well, i have the documents here for phase one on the tariff, but i really wasn't even paying attention to the tariff because

the price increases and stuff were happening before that tariff. it's kind of like watching the stock market, you know, because i do that a lot, too, and you think 18,000, we got to be at the top but no, that's not the top. i don't think 19,000's the top. it's the same, you know, it's the same scenario. it's a positive outlook. it just puts a lot of anxieties on -- liz: i understand. >> it's not really doing a job that i would like to do because if i was working off a rolling schedule and i was getting low, rolling schedule's coming in. now i don't know if it will be available for the next rolling schedule. liz: i hear you. >> so i have to sit there and just work -- liz: figure it out. we know you will, james. thank you so much. you know, hearing from small to medium business owner like you, north carolina, so valuable for

our viewers. join us again. we appreciate it. james howard of howard steel. >> i appreciate you having me. liz: we are coming right back. dow is up 24 points. we are on track for records for the s&p, dow and nasdaq. he wanted a man cave in our new home.

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yesterday i felt bold with boundless energy. this morning i woke up calm and unbreakable. tomorrow? who knows. age is just an illusion. how you show up for the world, that's what's real. what's your idea? i put it out there with a godaddy website. make the world you want. liz: tesla's sister company spacex, about to do something out of this world. tomorrow, the rocket maker will intentionally blow up one of its falcon 9 jets after it separates from a dragon capsule meant to carry astronauts. they are doing this in order to prove that its aircraft can successfully and safely carry humans into orbit and toward the stars and the planets. if the test goes as planned, the dragon capsule in which the crew

would be esconced traveling at about 1,000 miles per hour should gently parachute into the atlantic ocean while fully intact, while the falcon 9 rocket will basically shatter to pieces during its descent. should this work, it would be a very big win and major step for spacex and the new space race, putting the elon musk-led startup on course to become the first commercial company to send astronauts into space since, of course, the space shuttle, the last one, and that would beat rival boeing to the punch after the failure of boeing's starliner capsule last month. let's look at boeing because it is the drag on the dow right now. the dow would be higher certainly if boeing weren't down nearly 3%. the dow is still up about 17 points. all right. boeing is getting hurt because of reports on new software issues that could further delay the 737 max fleet's return to service. connell mcshane, i want to -- i got to watch tv tomorrow and see this spacex thing.

connell: i was thinking while you were talking about that, there must never be a boring day at a company that elon musk runs. and he also runs the company called the boring company but that's another -- whole other -- liz: i see what you're doing there. connell: i think we do it on purpose. that's what's going on in my head. coming up top of the hour on "after the bell," we will have a record-breaking week on wall street to recap and then get into 2020 politics a little. there's this theory being floated by, among others, the president, that maybe speaker pelosi was trying to help somebody, joe biden, by taking some of his rivals off the playing field in iowa right before the big caucus there by delaying handing over articles of impeachment. anyway, we will talk about that and some more politics and see how the week settles on wall street. see you at the top of the hour. liz: looking forward to it, thank you. connell mcshane. it's a nail-biter. markets are holding on to records as we head into the close which is just 11 minutes

away. that and charlie breaks it next on "the claman countdown." at fidelity, online u.s. stocks and etfs are commission-free. and when you open a new brokerage account, your cash is automatically invested at a great rate. that's why fidelity leads the industry in value while our competition continues to talk. ♪ talk, talk doprevagen is the number oneild mempharmacist-recommendeding? memory support brand. you can find it in the vitamin aisle in stores everywhere. prevagen. healthier brain. better life.

liz: folks, it's going to be a bull race to the finish. we are about seven minutes away from the closing bell. the nasdaq is on pace for its sixth consecutive weekly gain. dow and s&p are on pace for weekly records as well. the markets are set to close up more than 1.5% but we would be remiss, we need to go back to this boeing story. look at the stock, falling about 2.25%. fitch, the ratings agency, downgraded it to a-minus. it's still investment grade but what they're saying is that this is going to be a real problem. the embattled 737 max is going to take so long to return, plus it's going to reduce people's interest in the stock, according to fitch, saying the risk is going to be problematic along with reputational damage. boeing down $7.57 but the dow is

holding up by about 30 points. he's gone from writing off debt to writing books. charlie with exclusive news about what former ge's ceo jeff immelt is doing. charlie: it's obviously been a tough couple years for him. he was booted ceo from ge after an 18-year tenure as the company's stock started to fall as there was insurance liabilities. the once great company obviously brought down pretty far down. didn't get much better when john flannery took over. now there's a new ceo, larry culp. amid all this, there are books, journalistic books, phil cohan, aug author and journalist is out with "power failure." good title. that will be out soon. these books are coming out and will be critical of jeff. let's be clear. i have known jeff a long time. not best friends with him. he was nominally my boss when i was at cnbc, yours as well. always found him to be a good guy. he had a rough hand. that said -- liz: well, he inherited the

company after 9/11. charlie: at the top after jack welch. that said, lot of missteps along the way. and amid all that, what i understand is that jeff immelt is writing his own book. he's got a contract with simon shuster, i understand. this book is a book that is designed at least to get his side of the story out there. he's very worried about his legacy. particularly as these other journalistic accounts, cohan, might be one other one possibly out there, these other journalistic accounts and obviously the continued problems with the company. we should show the stock chart. larry culp took over the firm, i think it was $8 a share. i think we are at $12 a share right now. we are -- this is not a company that's doing that much better. it's a great company, got a huge market cap, hundreds of billions of dollars, great products -- liz: 103 billion. charlie: 103 billion. lot of people worried about its future. we should point out larry culp as he's making his own mark on the company, very fascinating.

he's not reaching out to the old guard for advice. from what i understand, jack welch hasn't been consulted, immelt hasn't been consulted. we have calls in to all those folks. they have not called us back for comment. you know, listen, i don't have -- i heard flannery hasn't been consulted either. he was only there for a year. i just, i'm remiss to say that for sure, because i haven't been able to reach out to flannery. i don't have a number for him. but you know, the two main ones, immelt and welch, have not been contacted by culp which is fascinating for a new ceo taking over this company. he's literally remaking, trying to remake this in his old image and i don't think he wants anything to do with the old guard, who, you know, i guess at least tacitly by not contacting them, he blames for the problems with ge that continue to this day. so amid all this, we will be hearing a lot about ge and the legacy. immelt's book, i know one person that claims to have seen the manuscript, okay. it was described to me as a

defense of his tenure as ceo, the 18 years, very controversial tenure. we will see how that's received going forward. but you know, listen, ge, we should point out, millenials might not remember this, this was the company pre-9/11. liz: they used to call it, it may sound uncouth, but the stock for widows and orphans. charlie: especially jack welch. the stock flatlined throughout the '80s. made a lot of money but jack welch took the company to new heights in the 1990s. it really was the darling of wall street. lot of people said he got into too many businesses, he screwed up and left immelt with a bag of you-know-what but did immelt do the right thing to change ge for the times. that will be the debate that we will be hearing about even as the stock still slumbers at $11 a share. i would be remiss if i didn't say what was larry kudlow on when he was interviewing with you trying to deny my story? what was going on there?

liz: about tax cuts? yeah. he said i love charlie but he's wrong on this. charlie: he denied -- then he confirmed it. liz: then he said he would put out a tax plan. charlie: what was that? liz: i said that. charlie: i didn't know what i was reading there. i didn't see the interview but i saw the transcript. it was like a fellini movie. liz: you will direct another movie soon. charlie gasparino. new records are moments away. two minutes left before the closing bell rings. the founder and portfolio manager of valley forge, with about half a billion in assets, do you buy at the top? we are about to see three brand new records. >> i think the low interest rate environment is really a great backdrop for equities for the next three to five years. so i think we will continue to see equities rise higher in the near future. liz: what do you look for when choosing companies in an atmosphere where there is a lot of positivity and record highs?

>> we think in a low interest rate environment, the prized assets are the companies that can grow earnings in a predictable manner and with stronger organic growth. so we believe that in terms of growing your buying power, the best way to do that is to own a concentrated portfolio of very high quality businesses. liz: you are picking moody's, picking the company behind fico scores, you like visa which of course is sort of the toll road for all charging of credit cards. you worried at all about the level of debt that americans are racking up at the moment? i'm talking about student loans, auto loans, credit card debt? >> certainly we have a debt problem around the world. there is just too much debt at every level. i think as long as interest rates remain in their current range, it is sustainable for the near future. but it's obviously a long term concern. liz: guess what? you get to be on when we see triple records. the dow, s&p and nasdaq are all

hitting records. 575 million in assets. good to see you. there it goes. the closing bell rings. s&p, by the way, closing at session highs on this friday. nobody dismounting from the bulls just yet, at least not most investors. have a great weekend. >> 3 in a row. >> thank you for clarifying. >> you know, some strong corporate earnings, upbeat economic data, you put it all together and we close out crazy week on up note, the dow settling 75 points higher, new record, fifth of the new year for the dow. so there you go, happy friday, i'm connell mcshane. >> we love it, i'm melissa francis. both ending the week in the green with new record closes as we said. first here is what's new at this hour. president trump is on his way to mar-a-lago, the president will attend a round t