and i am so happy to tell you confidence is at a 17-year high right now. 130.8, 17 years ago, gosh, i was just getting started in the financial news business. and we're right back there. liz -- [laughter] feeling good? liz: yeah, except that we're watching something happening, and so we thought, trish, from back in the day, you know, in your previous life maybe on wall street e.f. hutton, forget e.f. hutton. remember that commercial? well, when jerome powell talks, people listen. wall street watching every word just a few hours ago, the new fed chairman making his debut on capitol hill testifying before the house financial services committee. markets were hitting highs, cooking along. but what happened during the question and answer session that forced almost an immediate selloff that you see right now with the dow down 157 points? adam shapiro is there, and he's got the one question that sparked the fireworks.

delta airlines finds itself stuck between the nra and millions of dollars. gerri willis on how one political party is trying to punish an airline for picking a side in the hashtag boycott the nra battle. and the chief mechanic at advance auto parts says he's got to retool. ceo and president tom greco is here to tell us why the gop tax plan is actually revving up his company's turn around. he's here. plus, actress heather graham using hollywood's half magic to break down sexual barriers in tinseltown, writing, directing and starring in a movie she couldn't get the establishment in hollywood to buy into. heather graham on how she turned into a businesswoman and fought the establishment. she joins us on set. we're less than an hour to the closing bell, let's start the "countdown." ♪ ♪

liz: we want to quickly, at the top of the show right now, take a look at gun stocks. they are moving lower by more than 5%, at least two of them here after sarah sanders said the white house will have specific policy announcements later this week. this as senate majority leader mitch mcconnell in his press conference said, quote, we've been down that path before and that we should focus on what we actually can do, can accomplish. so you've got vista kwr0u9 doors -- outdoors down one and two-thirds, american outdoors down about 4%. we're watching these. let's go to wall street. we're looking at this classic case of good news is bad news. stocks trading lower after fed chair jerome powell highlighted the strengthening economy during his very first testimony before members of congress. so the dow is currently off session lows. i believe the low of the session was a loss of 170 points, now we're down 135 but still on track to snap a two-day winning streak. after turning positive for the

month during this hour yesterday, look at the nasdaq, back in the red for the month of february joining the ranks of the dow and the s&p. that's just for the month though. and the bidding war for sky, yeah, weighing on all players involved. at this hour comcast is down, walt disney is down and 21st century fox -- the parent of this company -- all down. they're really kind of at the bottom of the s&p 500 as they all pile into a battle for sky. sky, this battle is heating up. come cast made -- comcast made a surprise $31 billion offer for the u.k. broadcast in play for one of the most attractive overseas assets that disney is looking to buy from fox. comcast is offering $12.50 per share for all of sky, topping a $10.75 pound a share offer from fox for the 61% of sky it doesn't already own. ing 21st century fox putting out a statement just a few hours ago

saying, hey, wait a minute, we remain committed to the recommended cash offer we've already made for sky that was announced back on december 15th of 2016. and by the way, they also said is there even an official offer from comcast? well, we're going to keep you updated. more details in this developing story, comcast down 6.5%. let's get to macy's. don't count these retailers for dead. macy's is up 4%, charging ahead, leading the s&p 500 as investors cheer the retailer's results for that crucial holiday quarter. the latest sign of the company's turn-around plan is taking hold, it was a good christmas for macy's. the stock, as i said is, up about $1.02 and now at $28.48. so, yeah, i mean, we're just a few points off session lows at this moment. the dow actually saw a nearly 250-point swing as federal reserve chair jerome powell gave his very first testimony in front of congress.

we were looking very good just around the time that he was three minutes before ending his formal speech and then taking the q&a. he was giving us a road map into how the fed will run his leadership. also during his testimony, treasury yields started to spike to session highs as powell hinted that if the data change didn't look better, there could be more than just the three previously announced rate hikes for this year. so we see ten-year yields at 2.91%. listen to what he said. >> at the december meeting the median participant called for three rate increases in 2018. but since then what we've seen is incoming data that suggests a strengthening in the economy. we've seen continuing strength in the labor market. we've seen some data that will, in my case, add some confidence to my view that inflation is moving up to target. liz: okay. so is it all sounds calm. but suddenly there were a few surprises during his testimony

q&a session, and one of them coming from a house member from new york. adam shapiro at capitol hill. you know, i could say hot button issues, but he was just saying that the economy was good. but what happened that spiked the markets downward? >> reporter: well, carolyn maloney was actually pressing him on what would it take to go from the three expected rate increases in 2018 to maybe four or five? remember, they keep using this term "gradual," implying they might be less hawkish than the people who were counting on four or five increases because the fed has been saying three. watch the exchange, and then let's break it down for you. >> what we've seen is incoming data that suggests a strengthening in the economy. we've seen continuing strength in the labor market, we've seen some data that will, in my case, add some confidence to my view that inflation is moving up to target. i think each of us is going to

be taking the developments between, since the december meeting into account and writing down our new rate paths as we go into the march meeting, and i wouldn't want to prejudge that. >> reporter: so he doesn't want to prejudge that. but what he's referring to there is what the wonks would refer to as the dot plot, the survey of different bank presidents, where they think interest rates are really going to fall. and from that, you can determine -- as the street has -- that there would be three in 2018. what he's alluding to there is that the in the march meeting we're going to get a new dot plot and could see a more aggressive, more hawkish fed maybe calling for four interest rate increases this year. so that was the issue, liz, that led to the volatility that you saw in the market. but there's something you've got to pay attention to in the fed. it comes from janet yellen, and it continues now with jerome powell. wages are not growing. the pace of wage growth year-over-year is not what the fed expects to see when you're

at full employment and when you have inflation. even though it's running below target, inflation expected to accelerate. so they don't say they're perplexed, they say this is transitory. we saw janet yellen say that, jerome powell is saying that. but this is an issue the fed is paying attention to because, as he said, risks on both sides. remember, the mandate is full employment as well as inflation. they don't want the economy to overheat. but they're trying to get -- as well as they can, because they don't manipulate that much -- they're trying to help wages get up there, and they're not seeing that happen to the degree they would like. back to you. liz: yeah. she didn't ask such a horrific question, she just said what would have to change if, of course, you had to move rates higher and started to say things look good, we'll watch the data. but what he's done now is he has proven whether jerome powell liked it or not that he can move the markets. will powell emerge as a more powerful voice compared to some of the former fedheads of the past like ben bernanke, alan

greenspan or paul volcker who slayed stagflation, or will he just be, in essence, grabbing the baton from janet yellen? to the floor show, we've got john corpina at the new york stock exchange, larry shover from the floor of the cme, and john sylvia in washington d.c. what do you think, john? >> well, from my point of view what has changed since december was that january average hourly earnings number coming up at 2.9%. that was certainly a surprise by the fed followed by another consumer price index number that was greater than expected. so next friday we get a new average hourly earnings number, and i think that's going to set the tone. liz: oh, yeah. >> if that reinforces what we saw in january -- liz: which was what, 2.9%? >> yeah. you will see the market moving to four rate increases for 2018. also one other point. chairman powell also mentioned strength in the economy for the next two years. well, two years means that maybe

there'll be moving up the dot plot for 2019 as well. liz: john corpina, we're close to new lows of the session. the new low of the session is a loss of 185 points for the dow jones industrials. well, there we are, we're down 185. what's going on here? what did powell say or is it once again the ten-year yield which is at 2.9% getting close to revisiting those four-and-a-half year highs? >> you know what? i'll take another angle to it. i think if you go back two months ago and we had this same exact meeting, our whole market would have absorbed it and continued to have moved higher just because that's what we've done the 12 months prior. the volatility, the market has gone -- shakes up for no real reason whatsoever. i think investors are very fearful that this market can change on anything right now. so when you talk about the fed and you talk about comments coming out of war and what is going to be the landscape moving forward or discussing interest rates, i think the immediate

reaction is just to pull away from this market and to see how it's going to react. we had a nice runup yesterday. this is just a little market, you know, a little chatter. the market's just kind of bouncing around not really knowing what the next step is going to be. does the fed move the market? absolutely, those headlines mean something. there's a little bit more fear in this market than there was a quarter ago. liz: larry shover, we're looking at the vix up about 18%, showing a little more fear in the markets. where do you see this going? if somebody is in the markets or thinking about going in, hey, it's 187 points cheaper if you're buying the dow index. >> yeah. and the same thing i said three weeks ago and that is the fundamental landscape has not changed. the only thing that may have changed is that growth numbers aren't exceeding expectations anymore. nominal growth is really sturdy. consider this, i mean, earnings per share for 2018 mid $150 range. we're talking 2019 being low to mid 170s.

that puts our valuation at 16 times which means the s&p 500 relative to everything else, especially corporate -- i'm sorry, government interest rates is still the place to be. liz: right. >> that's what i would say is. yeah. liz: 2754 is where the s&p is, john sylvia, we got durable goods numbers. this is purchases of big ticket items that last more than 3-5 years. they were down 3.7%. then you've got the atlanta fed cutting its gdp for the first quarter estimate down again. they started with 5.4%, now they're at 2.6%. are you worried about q1 growth >> q1 growth, liz, has historically shown weakness relative to the rest of the year. again, when that number comes out in early april, we may see this reinforcement that maybe we're only going to do three. the economy has done okay. but also powell made the point that inflation would stabilize around 2%. that's yet to be tested.

liz: true. indeed. thanks, gentlemen, very much. john, larry and john. >> thank you, liz. liz: closing bell is about 48 minutes away. you may know hollywood actress heather graham for her rolls as roller girl in "boogie nights" or felicity shagwell from austin powers, but her latest role has her taking on the entire hollywood establishment and the sexism out there. heather graham on putting her business hat on and saying, watch this. she's coming up in studio. and hashtag boycott the nra is now forcing some big businesses to take action following that deadly florida high school shooting. gerri willis tells us how one major airline now finds itself stuck between making a choice between the growing social movement and millions of dollars. ♪ ♪ nah. not gonna happen.

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♪ ♪ liz: the shock, grief and promises from lawmakers to make a change in current gun laws is not taking the same course as it usually has done in the past. this time following the mass shooting in the parkland, florida, dozens of companies are now hashtag boycotting the national rifle association.

companies on your screen, metlife, united airlines, avis, budget rent-a-car, they're cutting ties with the nra and will no longer be offering discounts for its multimillion members. on the other side, fedex announced today it will continue to offer the nra discount. within the statement fedex says it'll do business with any legal organization and the nra is legal, but it also said its own company position on issues of gun policy and safety differ from those of the nra. fedex down 1.75% at the moment, but one company is under fire for cutting ties with the nra, tell that airlines. the -- delta airlines, facing threats from georgia state senators to stop the boycott or it'll lose millions of dollars in tax breaks. gerri willis in the newsroom with the latest big business battle. this one has politicians on one side of the aisle working to punish a company that ends relations with the nra. >> reporter: liz, you've got

that right. lieutenant governor casey kagel who leads the georgia state senate is tweeting, quote: i will kill any tax legislation that benefits delta unless the company fully reinstates its relationship with the nra. corporations cannot attack conservatives and expect us not to fight back. now, in the wake of that february 14th massacre at a florida high school you just mentioned, delta -- along with united airlines -- became the latest major corporations to sever market ties with the nra. kagel demanded on monday that atlanta-based delta make a choice; stop punishing the nra or watch republican lawmakers strike down a $50 million sales tax exemption on jet fuel of which delta would be the primary beneficiary. in a longer statement cagle said: the if corporate america wants to make a positive difference on gun violence, it should donate a portion of its profits to mental health

treatments and school safety initiatives. now, neil cavuto pushed the issue with republican georgia congressman doug collins earlier today. listen. neil: let it hurt their business. let them suffer in the fee free market as a result. you would be just as aghast if there was something that a left-leaning group had wanted to see and a company did the opposite and wanted to pick at hem. this is just as bad or worseing right? >> look, this is exactly what i've said, neil, is, look, we think they're going to adjust. the senate is going to react as a political body does, but let's also hear this. governor diehl, i have faith in him and the rest of them to work that out. and delta understands, i think -- neil: no, listen, the governor wants -- >> reporter: so other politicians making hay here. democrats in other states like virginia governor ralph northam and new york's lieutenant governor said delta was welcome in their states anytime. the nra responded by saying its

members would not be intimidated by what it called a shameful display of political cowardice from some corporations. we've reached out for a comment from delta, we are still waiting for that response. liz: gerri, thank you very much. and we should mention that the president has said that policies regarding guns will be coming out. we've got gun stocks, as we showed you at the top of the hour, definitely moving lower. and you can see right now it's really sturm and ruger down 4.75% and american outdoor brands down 3.33%. american outdoor brands is the one that makes the ar-15 rifle that is in question here. if you need a tiebreaker here, and i don't know how any companies are looking at this, but here is somebody who stuck up for the kids on this. >> i have been heartened to see children across this country using their voices to speak out and try to create change. they're our future, and they

deserve a voice. liz: we will be watching this developing story. in the meantime, the dow is still down about 182 points, and we've got 39 minutes before we hear that closing bell ring. lots of red on the screen at the dow 30, you can see that here, but intel solidly at the top in the green leading the dow after citigroup said intel's the top chip stock you should own this yearyou are so inclined to buy semiconductor stocks. ing intel hitting -- that's a 17-year high on the news, $50.01. chipotle off the chopping block after baird upgrades the mexican grill to outperform with a price target of $400. this from 315. right now chipotle's 318, so a long way to go before you hit 400. says it likes the appointment of brian nichol as ceo, came from taco bell. chipotle up 20% since he took over. up next, actress heather graham one of the first people

to reveal harvey weinstein, the disgraced hollywood mogul, tried to pressure her. now she's disrupting the entire hollywood establishment by breaking the business cycle, opening the doors for not just more female actresses, but female writers, producers and directors. she's here to tell us about how she got her new movie "half magic" made. "countdown" is coming right back. there's heather. got that hear how she did it. ♪ hello. - hi.

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♪ ♪ liz: dow just took another leg down, we are lower by 206 points, looking to be a tough end to the session here. all right, not tough for marvel studios. "black panther" continues to slay record after record with global ticket sales now topping $700 million. so a lot is being made of what

hollywood studios would say is an unlikely superhero, african-american. but that's not the only non-traditional hero movie just released. "half magic" is a small movie getting outsized attention. written and directed by lead actress heather graham known best for her roles in boogie nights and austin power, she also starred in the hangover, graham's film centers, in essence, on graham and two pals who overcome their frustration with male dominance into massive success when it comes to fighting hollywood sexism. watch. >> i'm the one that discovered you and gave you your big break, right? >> yeah. >> i want to be a writer. >> in due time. i don't want to hear about women's stories. you've got to talk about a man, write about a man. on my end, i'm going to put more female characters in my next script. >> really? >> it's called kill the sluts,

that's the working title -- [laughter] liz: the l. a. times is calling it a fizzy comedy that sends up hollywood sexism for all its blunt absurdity. graham fought for years against that very hollywood machine to get the movie made, so we asked her what that was like. >> frustrating, traumatic. it feels like the system is stacked imns you. liz: what were people telling you as they rejected you? >> they said people don't care about women's stories, women's movies make money. if you want to get a movie made, write about a man. liz: how did you say i'm going to do in anyway? because you've got an entire industry and a machine all telling you the same thing. >> i guess i just really wanted to tell the story. i made the movie for myself. i figured if i would enjoy it, other women would enjoy it too. liz: it's hilarious, there are a lot of men in the movie and men that other men would relate to, hate or want to hate or want to

know and be like. >> i wanted to keep it funny and sexy so you could watch it as a woman, feel empowered, but as a man you could find the humor, and it's sexy. it's about sex. liz: men are not necessarily attacked in this movie. >> no. there's some great men in the movie. liz: so from idea, putting pen to paper, to then getting it up on the screen. can you give me a timeline of how long that took? >> seven years. [laughter] liz: you're kidding? >> yeah, i mean, the system is stacked against women . you start from the day that we're born, there'ses not a lot of role models for female writer/director. to even write a movie and have the confidence it's going to happen is hard, and to get the money is hard, the distribution is hard, and once it comes out a lot of men are writing about it. do you know what i mean? so you have to go through all these men to get to the women that you want to watch the movie. liz you just mentioned financing. there are people who want to start up companies or in your case start your own little mini company in the form of a film.

right. liz: talk about how you got financing, because you put your businesswoman hat on, and then you lost the financing. >> yes. i mean, really two men helped me make the movie. michael nichols, he read every draft and said you should direct it, and he found these financiers who took us through preproduction and said we don't have the rest of the money. we had to fold the project, it was incredibly traumatic. and then a year later bill shineberg financed the film, and thanks to him -- liz: but your time anything the release is unbelievable because you wrote it and put it all together before the cover was blown off the biggest scandal that hollywood has seen in decades, and that is the harvey weinstein, actresses being harassed and pressured scandal. and you were one of those actresses. >> uh-huh. >> you've written about it where harvey weinstein, this big executive, had said to you you'll have the pick of any script you want, just sleep with me. he even, as i understand, lied you say to lure you to his hotel. instead of doing that, you wrote

your own script, and he's now a disgraced mogul. vindication? >> it's amazing. it's so good. and, you know, every hardship we went along the way to get this movie made, now the movie's coming out at a perfect time, like you said. so i guess maybe there's some good force in the universe where people are open to hearing women's stories. liz: maybe it's half magic. [laughter] >> it's kind of magic. liz: you're already having an effect along with another movie that some people would not compare yours to, and that's black panther -- >> so exciting. liz: these unlikely superheroes. i just read a headline, the national association of theater owners is now demanding that hollywood studios put forth and give them the very things that movie executives have said for years don't sell; african-american stars and women stars. >> amazing. thank you, finally, finally! it's incredible. liz: as a newly-minted director, i don't need to remind you that the oscars are this coming

sunday. there is only one female who's been nominated -- >> thank god there's one. usually there's none, you know? i mean, finally this year there's one, you know? liz: one female director nominated. do you think that will soon change? >> i think so. i mean, it was exciting when natalie portman said at the golden globes and now for the all-male nominees. we do need to change this issue. time's up, 50/50 by 2020, that's a great goal to have. liz: which is easier, landing a plum role as an actor or getting a movie made? [laughter] >> they're both so hard. they're so hard. i mean, it's like i gave up trying to get guys to cast me in their movie, and i cast myself. because at the end of day, no one's going to write that personal story you want to tell except you, so that's what i did. liz: that's what she did. she put her own money in there too. in another unconventional move, half magic is also available on demand, on netflix and digital. we're going to have more in today's claman confidential.

we talk about how much heather's invested in this project and her advice for those out there with an eerily similar advice that warren buffett gives. go to liz claman.com for the online exclusive video. dow down 193, we'll be right back. ♪ ♪

♪ ♪ liz: again, it's the final hour and now we we see more of a selloff. we have the dow down 223 points, s&p down 27. we've got the nasdaq down 73. all three are now negative for the month. we only have one more session, tomorrow, in february. we're watching this very closely. okay, we've all heard about the bonuses and dividends that companies are doling out after the gop tax cut went through and lowered the corporate tax rate.

one auto parts seller says, yes, it's giving a big chunk back, but they're going to use the savings to fuel a turn around. advance auto parts dropped from 35 to 21%, that works out to a savings of $70 million a year. the stock is down 30% over the past year as the company struggles to rev up sales. joining me now in a fox business exclusive advance auto parties ceo and president tom break coe -- parts. -- greco. sometimes you get swamped in news that has nothing to do with you, although a competitor, autozone, came out with numbers, and they're kind of swamping the sector here. let's talk about how you would use the tax return that you're getting from the lower tax rate to help with the turn around and how you focus that turn around. >> well, we're really excited about the turn around itself, liz. we've been working on this pretty hard for the last 18 months, and overall we have a plan that is going to invest significantly back in our employees. we have front-line employees all over the country that are really

important for us. we want the very best parts people in the business working for advance. so we already invested significantly in our front-line employees over the past 18 months because we knew that was going to be important. we have 5,000 stores, we have general managers in those stores, commercial parts pros, they're critical for our success. so we actually introduced a stock ownership program for them, for our top performers so that they can earn stock in the company. and we feel that is a really good retention move for us, and it has dropped our turnover -- liz: i'd say it's a very good retention move because i was talking to somebody that works at another company, and it's smaller, and he said they couldn't raise my wages, but they gave me stock ownership. and smart people will understand sometimes it's better to own mcdonald's stock than buy mcdonald's, you know what i'm saying? >> yeah. liz: i am hearing you say you won't be that company writing out $1,000 checks or hiking wages. instead, you're going to turn

this company around by, beyond the employees, doing what? because you're facing an e-commerce giant, amazon. you can't just ring fence yourself around and say, well, we're not going to deal with them. what have you done to take on amazonsome. >> sure. we're taking a very long-term approach to turning the business around. as we studied companies that have been very successful doing what we're trying to do, you know, you've got to get the strategy right out of the gate, and we feel we've done that. we're investing in e-commerce, in our technology platforms because we know that's going to be important. we've certainly made big investments in customer service because the experience our customers have both online and in the stores is critical and then in our people. so when you talk about amazon particularly, we've had to recruit some people into the company that can really help us compete vigorously against formidable competitors like amazon. liz: you know, you are a classic case, and when i say you, the company, a classic case of activist investors wrecking something. because when you took over, an

activist investor -- because we used to, we watch this company very closely for a whole host of reasons. but they took a stake, they started publicly agitating, and the stock had been $171, and i said since then chopped in half. -- since then, chopped in half. are they out of the picture now, and you just do the job that's best for the company and all shareholders? >> you know, we have jeff smith is the person that's been involved with us directly. he's starboard value. he's very involved with the company -- liz: do you have to say that? >> i absolutely -- i wouldn't be here if it weren't for jeff smith. i absolutely would not be here. he's a very unique activist. liz: what's his best idea? >> his best idea is exactly as i just said is, investing back in the front-line organization, investing back in consumers and our customers. he's very focused on that. and i have been around other activists, liz, and i know what you're referring to that are more financial engineers. i wouldn't describe jeff that way. he's very customer, front-line-oriented person.

liz: well, we're watching it, and this company is a brilliant one and might i just say personally how grateful i am because, just so you guys know, advance auto parts since 2012 has given us $8 million to building homes for heroes where we build custom mortgage-free homes for our worst wounded heroes. we really look at you as our most important donor, and we're so grateful that you're in it to win it with us. >> well, we're proud to be part of building homes for heroes. we know it's such a great organization -- liz: and you guys hire a lot of vets. >> we do. we've got 6,000 in the company. so we feel -- it's important when you, everybody has to give back. i think companies have a responsibility to give back to the communities that they serve. liz: even when times are tough? >> even when times are tough. we went down to houston for hurricane harvey, we went down to south florida when that hurricane came through, i'm going to puerto rico here in two weeks. we actually raised quite a bit of money for all of those places and gave that back to our people. liz: well, it's great to have

you guys onboard building homes for heroes. you've got to come to our gala next year. >> i'm coming. liz: our viewers have donated like you can't believe too, so you're just right there. we appreciate it. >> thank you, liz. liz: tom greco of advance auto parts. we need to take a look at the big board, down 213 points. that's off the session lows, but looks like it's going to be a rough final 15 minutes of trade here. the dow is at 25,491. s&p at 2,700 and change, the nasdaq is losing 7-0, 70 points. don't go away, it's a work in progress. ♪ ♪ and at $4.95, you can trade with a clear advantage. fidelity, where smarter investors will always be. and at $4.95, you can trade with a clear advantage. looking for a hotel that fits... whoooo. ...your budget? tripadvisor now searches over... ...200 sites to find you the... ...hotel you want at the lowest price.

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call now! take control of your retirement today! ♪ ♪ liz: we have an alert here. at this very moment white house communications director hope hicks is finding herself behind closed doors on capitol hill.

the house intelligence committee questioning one of the president's top staffers over allegations of collusion between the trump campaign and russia during the 2016 election. hicks reportedly not giving up much. democratic congressman mike quigley of illinois telling reporters the longtime trump staffer is refusing to answer any questions about the transition period or about her time in the white house. meanwhile, fox business is learning that special counsel robert mueller is expanding his election meddling investigation, now exploring the timing of president trump's decision to run. charlie gasparino -- >> you know, i can't tell if this is a fishing expedition or it's, you know, maybe it is or it's -- this is what you do, you start from the bottom, you build a pyramid. his investigation is kind of all over place. it involves business things that trump did in russia, you know? and the trump hotel this russia, remember, it was an ill-fated hotel, didn't actually happen. he's looking at, he's asking

witnesses about that. he's also asking witnesses about the timing when trump decided to run. now, why is that important? because trump is asserting that the russians began meddling in 2014. remember, that's part of the mueller indictment that just came out, the 13 russian nationals. well, they're finding out that he actually consider running in 2014 right at the same time. so what does this mean? i can only tell you this, or this is one of the most -- if you think it's simple that they're looking at collusion and campaign, they're not. they've expanded this thing to his business interests, to many other aspects. who he dealt with, what russians he dealt with in trump tower, if he's dealing with certain russian mobsters in the u.s. i mean, they are asking those types of questions. so i will -- liz: a lot of tentacles now. >> the president said if this thing expands to his business interests, he's going to -- he might fire mueller. he basically said that's a red line, if they go beyond the core

of the, of why mueller was appointed which was to look at collusion with this campaign. it is pretty clear right now based on the questions that trump associates and witnesses have been asked, you know, this is recent that they are beyond that line, that they're looking at his business interests, who he did business with in russia -- liz: this is your individual reporting that's turning this up. >> yes, yes. they're looking at when he decided to run to try to correspond it to when they know the russians began meddling in the campaign. this is a really far-flung investigation. and, you know, the president late last year was talking to friends of his saying, like chris ruddy who runs a news magazine, he was saying, you know, i think this thing is over. i've been told they're wrapping this up. chris ruddty said, well, they may be wrapping up a narrow part of this thing, but watch out because he may have expanded this thing -- liz: i don't think anybody knows what robert mueller's really doing. >> i don't.

liz: except for people in the office. >> this could be just dotting the is, crossing the ts and raising questions to see if people would bite, or it could be that they have a far-flung investigation -- liz: well, gates now appears -- >> rick gates. liz: rick gates who worked on the campaign, he's had charges dropped or he's going to -- >> he entered a plea agreement. what's fascinating about all the plea agreements and indictments that have come down so far, they don't necessarily involve collusion. they involve, in the case of mr. gates, money laundering. because he was working with paul manafort, the former campaign manager. gates was a campaign official. and the charges are money laundering. we should point out that manafort denies the charges and he's going to fight them in court. gates has cut this plea deal. general flynn, same sort of thing. lying to investigators. not collusion. liz: and he cut a plea deal. >> well, we know he's going to cooperate. liz: cooperate, yeah. >> all i'm saying is this, so far the charges --

liz: all's i'm saying -- [laughter] >> the charges seem not to be in collusion, not to be collusion. the scope of the investigation is so wide that it includes both collusion and trump's business interests. western point out i'm going to have a whole -- we should point out i'm going to have a whole write-up on foxbusiness.com. liz: did you see heather graham? >> why did you, like, not do that interview when i was in the building? [laughter] that's what i want to know. liz: listen, identify been on this -- i've been on this party train for a year. my brother-in-law was the one who gave her the financing, and that's how it came on my radar, this is interesting. the timing -- this was before the whole harvey weinstein drama blew up, and now it's a woman -- movie about women fighting hollywood sexism. >> she's always one of my favorite actresses. liz: yeah. i guess i should have let you know, but we may have run

screaming, that's the thing. [laughter] >> i, you know, maybe. maybe not. you never know. [laughter] liz: charlie, thank you. >> i want to meet -- why do i always get the old white guy? [laughter] you always pair me up with -- liz: because he is one. no, i'm kidding. >> i am. why don't i get -- liz: i'll tell heather next time she's in town. >> why don't you interview jennifer aniston with me -- >> me too. liz: can she comment on session lows? >> she probably can. liz: down 242 points with just six minutes left to trade. you can't miss the last, final minutes here. by the way, you'd have been loving it if you had followed our countdown closers' advice two and a half years ago. he said buy mcdonald's. we're going to show you how much you would have made if you went in then when he suggest ised, but guess what? he's here to suggest new names of what you should buy now. don't go away. ♪ ♪

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♪ liz. as we looked to close at session lows here, the dow down 252 points. i immediately checked volatility index and it is up 19%. it was up 1% earlier. i want to bring jack oliver. manager partner at rbo and company. you like to pick stocks. you like going in on a day where there is a lot of seven -- selloffs. >> when they are getting a little bit after discount. liz: i love to tell viewers why they should listen to people sitting in that chair. it was mag mack's two years ago. you came on. it was going through a very rough time. you said buy it at what price? >> inned mid '90s the time. can we put up mcdonald's really quick. it is up 67% since you recommended it. it is at 160. so what are you recommending today on a day where things are cheaper? >> i should preface that with

past importance is not always indyk kit of future results to be fair. two companies we like dominion energy which is regulated utility. 4 1/2% dividend yield, going%. we like berkshire hathaway b shares. couple hundred dollars a piece. the report came out this weekend. obviously well-known company. exceptional management with a huge cash pile. a big part of their businesses which is insurance. in the end it was 115 afloat. essentially checks that insurance companies and individuals write to berkshire which they can reinvest essentially at no cost. liz: buffett loves day likes this. we have ad session lows. what do you say buying on a down day? you were weren't buying on up day? >> you put money to work when you're a little uncomfortable. versus a feeling euphoria.

it's a good stay to buy. [closing bell rings] liz: jack oliver, with rbo and company. we're off session lows, still getting hit. the dow off 277 points. a lot of breakings news. "after the bell" has it. david: selloff on wall street as a the new fed chief suggests extra rate hike this year. melissa: oh, goodie. david: ending down over 300 points. hi, i'm david asman. we're back again. melissa: we're back together, thank goodness. i'm melissa francis this is "after the bell." here is what is happening at this hour. we're waiting knew new comments on historically black colleges and universities. we'll bring you the remarks as soon as they happen. th