Transcripts For FBC Cavuto Coast To Coast 20240714

Term. The chinese are saying that the precondition for the meeting, that the president agreed to, there would be no new tariffs added. President donald trump pushing back on that. Listen. You wont put anymore tariffs on . No, i have not promised that. Good question. No. Reporter seven hours ago the trade delegation for the chinese, the head of that delegation, the chinese vice premier, liu he, was seen going into the hotel where the u. S. Delegation is staying. The two delegations were scheduled to meet ahead of the meeting between President Trump and xi xinping. That first meeting would set up the second meeting. A lot of people are talking about it and it is very interesting and it will hopefully come out well for both countries. Ultimately it will work out. Reporter the chinese are expected to present to President Donald Trump exactly what they would like to have in a trade deal in order to go forward. President xi xinping reportedly will say all u. S. Tariffs have to be rolled back before china will make anymore concessions. Also, huawei, the sanctions against huawei, have to be lifted in the next 90 days or so in order to have a trade deal. Now it seems, neil, the two sides are very far apart on some of these things. President donald trump will try to personally bridge the gap and come to some sort of resolution or at least keep talking. Back to you. Neil the keep talking part what theyre all talking about. Edward lawrence in osaka. Markets are up ahead of all of this. Right now for the dow would be the best monthly performance unless things fall off a cliff since 1938. For the s p 500, since 1955. Erin sikes and peter tuckman. Peter is the most photographed market player in the world. Good to have you both of you. Peter, let me get your take how trade figures in to everything you see going on around you . So, look i think market is sort of priced in the hope that were going to lower Interest Rates. I think wild card on all of this has been trade. It has than way for a year. Were really not clear what will come out of the mooting. Anything really. We know the administration is not clear about the relationship with china. Im not clear what will happen out of this thing but trade is the wild card. We could be up or down 500 points on good news and or bad news coming out of this meeting. Neil always in the eyes of the beholder. Erin, one of the big things that is question mark, if tariffs sink in, even though tariffs are in effect, they were for knew products and materials coming from china at the time, not those already here. So consumers really have not had the Immediate Impact of dealing with them, particularly the high ones. So im wondering if we dont see a resumption that looks promising then what . I mean that gets to be an issue for the markets, actually for consumers Going Forward, right . This reminds me of the marshmallow test. A lesson in delayed gratification. I have no doubt that President Trump will make a resolution. It might be tomorrow. It might be two month from now. But it is like when you give a marshmallow today, you get one. If you wait an hour or two you get two marshmellows. I think well have a bigger win if we do have a resolution in the coming months, not just tomorrow. Neil i think you should get the marshmellows immediately but that is whole another argument. Peter, so much has been built on the china stuff. In fact to give you contrarian view on, you know, if you get a trade deal, you really dont need to cut rates, right . I mean conversely, if you dont get one you do. So, if you dont get an immediate deal, it greases the skids for Interest Rates, wouldnt that be more of an allure to the markets, hoping to get those cuts . I agree with you 100 . I kind of think lowering of rates. Narrative switched from the last bunch of years of raising rates is south of counterintuitive in a market on record highs. The only thing that would infer we should lower rates would be slowing global growth. That would be cat at catalyzd by no tariff deal or a deal with china. We dont have the deal on the table yet. Economy is at a low. Greatest june since 1935. Markets are 1 off their highs. So why are we in fact putting that extra fuel on the fire . Neil interesting. Erin, monday well look technically longest economic expansion in American History. Some are quick to think, financial times, global history. I searched that one out. But there is always concern when you hit a record, that it cant be sustained. What are some of the impediments, what do you think keeps driving it . I mean trade talks are definitely a possible impediment. Again we feel like we will work out a favorable resolution for the United States. I think it is more just Consumer Sentiment and uncomfortability in the marketplace. People are not used to a win that is this longsustaining. We all need to stay calm. I think media needs to stay calm trust the president is the best dealmaker in American History. Neil well see about that. Thank you both very much for taking the time. My friend and colleague who wrote the book on staying calm, more with Charles Payne in a second. This is what i want to pounce on with charles after he looks at this, from the debate. People who have health care under medicare for all, have no premiums, no deductibles, no copayments outofpocket expenses, yes. They will pay more in taxes, less in health care for what they get. I would be going about eliminating Donald Trumps tax cuts for the wealthy. For too long the rules have been written in the favor of people who have the most and not in favor of the people who work the most. Which is why i am proposing that we change the tax code. Neil if Charles Payne is right, that stop prosperity, the title of his new book is out. I finished reading it last night. Great book. Learn the strategy i used to beat the market he have year. It is common sense stuff. Good to see you. Thank you, neil. Thank you. Neil lets talk a little bit. I do want to touch on the book, well save that for a different chat but this idea that, all right, i will tax but you get more from that tax than the tax youre paying. That is the sanders motif, what do you think . Its a tough one, it really, really is. This is politics of envy more than anything else. Here is the thing. We live in the most prosperous nation in the world, all americans think they should have more. In other words, we think it is sort of part of a unwritten contract with the american deal. And because it has been tougher more recently for some people, theyre using that to go back to the same old talking points. These are really just sort of the same taxandspend ideas weve always kind of scene. This is interesting. Coming at a time there is absolute evidence the average american is doing better. The average worker is doing better. Eight of the last 10 months, nonsupervisory workers, their wages grown faster than overall wages. Neil right. That gets ignored. That gets ignored. Hasnt happened in a decade. To put it in proper context. Listen i understand where people feel like they want more, they can be doing more. It is interesting, you were having a conversation right before this, we had three important pieces of data out today, that are really amazing. Consumer confidence was down, but better than expected. Neil right. The top 1 3 of households mentioned tariffs, 45 . So their expectations for the next six month went down. That dragged it down. Bottom 2 3 are okay. Other end of that, consumer incomes, consumer spending. Consumer incomes much stronger than wall street thought. Spending was strong. Savings still strong. Americans are singed by the great recession. Here is where the fed may have to raise rates. Manufacturing continues to implode. Neil cut rates. Cut rates. Chicago pmi came in at contraction last month. We get number on monday, ism manufacturing number. Usually the chicago numbers are a great harbinger what happens on monday. Neil do you get a sense Federal Reserve moves as soon as next month . Zoo absolutely. I think if the ism number on monday is as bad as todays chicago pmi number is, people talking 50 basis points, not 25 basis points. Neil i will get you later on your book. I finished reading it last night. You look at a commonsense approach, keep it consistent, all of that. As we talk about a 10year economic expansion that will break the records come monday, how do you recalibrate for that . Every time you read a record, i guess at the could have said that within three or four years into this. I heard presumption that markets were exuberant. No theyre not. [laughter]. According to the American Association of individual investors bearish sentiment at this moment is higher than bullish sentiment. Neil that is generally a bullish sign. That is really a bullish sign. The assumption because the market at an alltime high or expansion on the verge of breaking an alltime record, that it cant get better. Neil this is not overly rich market in the aggregate . In the aggregate. Neil ben stein said you cant but you do you have a great record doing so but if you wanted to do investment mirrors performance of the dow or nasdaq, nasdaq 100, all, that is it getting a little rich. I dont think so. Neil really . I dont think so. You dont look at numbers, went from 10 to 20, its overvalued, if underlying fundamentals went from 10 to 30. I want people to pull up. Put a chart of it up. Corporate profits over the last 50 years. U. S. Corporate profits over the last 50 years. You want to talk about something went from here to here . Stock market doesnt barely reflect that at all, neil. It is mindboggling. If you look at that chart, say the market is supposed to reflect, that were significantly undervalued. Neil im so glad you didnt bring a chart of that . By the way youre the one who always calms people down on the rough days. You bring up 100 year chart. It is hard to discern on there. It is hard to discern where the panics were even though they existed. Neil youre right, in the middle of the jagged stuff. Youre right the trend is your friend long term. This is fine book. He is a great person, conservatives liberalses both love him. He is a straightshooter. He is a good man. Pick up the book while you can because it is flying off the shelves. Meantime, health care for illegals, never mind how you pay for that. Is that going to make the situation at the border worse, not better . After this. That move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Termites, were on the move. 24 7. Roger. Hey rick, all good . Oh yeah, were good. Were good. Termites never stop trying to get in, we never stop working to keep them out. Terminix. Defenders of home. It was hurtful, to hear you talk about the reputation of two United States senators who built their reputations and career on the segregation of race in this country. You also worked with them to oppose busing. And, you know, there was a little girl in california, who was part of the second class to integrate her public schools. She was bused to school every day. And that little girl was me. Im the guy that extended the Voting Rights for 25 years. I agree my time is up. Neil not a good night for joe. The former Vice President , really coming under fire, namely by Kamala Harris, who almost everyone seems to agree was the star performer in the second debate. It has reset the place holders in a race with a long way to go. To Iona College Political Science Professor jean zeno. What did you think, professor, of that particular exchange . In anyone thought joe biden was inevitable, he is not. It was a lackluster performance. He seemed unable to answer a key question about his past. Hard to believe he wasnt prepared for this, he answered in the past about busing. There is an answer. Most people in the busing do not support busing. So there is an answer to it. Also of course, joe biden, to not be sensitive to what Kamala Harris was talking about, which was very personal, it was a really bad performance. I dont think he is out of the race by any stretch of the imagination but he simply cannot repeat this at the next debate. Neil he just seemed, youre the expert, im not, i always like to tell viewers, professor, i read a problem tore, so i think i qualify prompter. It seemed like a jeb bush moment, what did donald trump say about him, no energy and all, i didnt think it was a fair rap. It was the image that stuck out, didnt seem lost, confused, didnt know directly how to respond. Wanted to get out of buzzer before the time was up. I dont know something which he can come back. Now, because that image is out there then. I dont think it is a fair rap against old guys in this race, especially when i get close to being that old guy but i wonder if it is going to feed, just as the president s attacks on jeb bush fed a narrative what do you think . Absolutely does. You know, sleepy joe, last night i agree with you, it seemed like somebody had said to me, seemed like he wasnt quite present. Have you ever heard somebody at a debate say, oh, i think my time is up. People in the twitterverse took that metaphorically. That is not the image that joe biden wants to put out there. He wants to project, forward thinking, future, positive image of the United States. And his performance said anything but that last night. So i thought it was a very damaging night for him. If he thought he was going to go into this, wrap this thing up, Kamala Harris, mayor pete, they really showed him that he has got a long way to go. That 30 is probably going to crack now. Neil you have to show passions. Moments where it is called for. Moments it could be staged. Ronald reagan with the memorable i paid for this microphone moment, where youre enraged by the charges coming at you. I think, joe biden, he has been, and, in front of a lot of some of the biggest, you know, racial equality legislation in recent American History and he was just sort of taken on the chin and it was an unfair kind of attack line, especially someone, you know, who had worked so closely with so many prominent racial activists. And i thought he dropped his guard. With the cool hand, kind of dismissive, you know, what youre Say Something unfair. It didnt show any passion or rage. I think he missed a moment. He did. It is curious, lets remember when he came out in this election cycle he was running on the issue of race. He had this as his major platform. He was going to come out and talk about charlottesville. All of that seemed to escape him last night. For somebody who has the history that he does in this issue of race in the United States, he wasnt able to project that to democratic primary voters who dont know a lot of what he has done and what his history is. So for that reason it was incredibly damaging to him personally. I would just add, that Kamala Harris had a very good night but i think she made a huge mistake raising her hand about getting rid of private insurance. All of them raising their hand neil they all did. To insure Illegal Immigrants. As if the Democratic Party has forgotten who they are talking to. This will be a close race. Most americans struggling to get health care dont want to hear if you come over illegally you will get something we cannot get here. I have friends who cant get health care. They dont want to hear that. Neil that bill boomerang on you. Might get you nomination, not might get you the general election. They all raised their hands. Some of them a little tentative there. Neil right, right. Thank you very much, jean, Political Science professor, extraordinaire. Thank you. Neil the president who has the job already, meeting with Vladmir Putin as the house tries to talk about limiting his powers after this. So. How are you feeling . On a scale of one to five . One to five . Its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry clive actually, really angry. Thank you. But what if your business could understand what your customers are feeling. And then do something about it. Turn problems into opportunities. Thanks drone. Customers into fanatics change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Back then, we checked our zero times a day. Times change. Eyes havent. Thats why theres ocuvite. Screen light. Sunlight. Longer hours. Eyes today are stressed but ocuvite has vital nutrients to help protect them. Ocuvite. Eye nutrition for today. We like drip coffee, layovers and waiting on hold. What we dont like is relying on fancy technology for help. Snail mail we were invited to a y2k party. Uh, didnt that happen, like, 20 years ago . Oh, look, karolyn, weve got a mathematician on our hands check it out now you can schedule a callback or reschedule an appointment, even on nights and weekends. Todays xfinity service. Simple. Easy. Awesome. Id rather not. Neil show you something. Uber shares, 46. 73. I dont know the particular catalyst. It is rocking away today. Market averages, dow hit triple digits, up, since 1955. Can you believe that . Apple indicating it will move a lot of macbook production to china. Susan li with the details on that. Reporter macbook pro is the last device manufactured here in the u. S. The timing is very interesting. 24 hours before the u. S. China trade talks, kick off on the g20. Apple is saying they want to us make sure we understand that they are still investing in the u. S. They sent over a statement to us, saying that they invested 60 billion into the u. S. Last year. Like all our products, new mack pro designed and engineered in california. It includes components from all over the world, including here in the u. S. Came up with the famous saying, they will use suppliers from taiwan like quantity at that. Neil what are they doing in china then . Basically producing the macbook pro. They put everything together. Kind of what they do with the iphone now. Most iphones, still compiled and manufactured in china. But to do this, 24 hours before the u. S. China trade talks and arguably the most successful u. S. Company in china, dont forget. Dont forget, President Trump said with the tariffs, with the economy hurting over in china, they will bring back jobs, production here to the u. S. Not the case in apples example. Neil talking about making fewer phones, iphones in china . Yes. Neil separate shifting production out of china neil counter that, and keeping in chinas good graces . That is a very good question. There is a lot of debate over what the motivation is. They havent actually moved the 15, 30 of iphone production out of china. It is hoping they were exploring news reports, that suggested that they are. Most likely recipients of southeast asia, low cost vietnam that we talked about. Neil right. India might get iphone production. This is not confirmed by the company itself. They want to reiterate. Theyre still investing in the United States of america. Neil want to get to the other issue here. It concerns flagging abusive tweets from world leaders. What are we talking about . Twitter, a long time they have been criticized they havent been taking down controversial, some say insulting tweets from prominent politicians. They didnt name the politicians. You can guess who that might be. In the future theyre changing how they display these tweets. These tweets will be identified by official notice from twitter indicating they might have some controversial material, they might violate the rules. I dont know if you go on twitter these days, when you see this material is censored or this material is sensitive, you have to click through it to get to the tweet. Neil hypothetically from the president. Yeah. Neil would it get the same treatment . Depends what it says. Neil lets say, this guy is a loser . I dont know if that violates the rules per se, but i think that depends on hate speech, terrorism content, you know, graphic contents. Right now they have something for adult content as well. Neil all right. I think it depend on what twitters definition of that. That is something Mark Zuckerberg brought up at the aspen ideas festival, he is saying how do you define hate speech . Are you expecting us to do that . Wouldnt that be a form of censorship . He is putting it back the onus on the government, what is terrorism. He doesnt want to go against someones First Amendment rights on free speech. Neil to have position for him to be in. Any of those companies. Social media in focus. Neil i hear it is pretty big. Youre pretty big on it too, have you noticed. Neil no. Those tweets. Neil the nasty ones. I will put a big box. Dont read the comments. Thank you very much, susan li, meantime, here is what happens in a low Interest Rate environment. Good if youre in dent, obviously it doesnt cost as much to go into debt. Not so good if youre a saver, because some bad news to pass along on that front after this. What do you look for when you trade . I want free access to research. Yep, td ameritrades got that. Free access to every platform. Yeah, that too. I dont want any trade minimums. Yeah, i totally agree, they dont have any of those. I want to know what im paying upfront. Yes, absolutely. Do you just say yes to everything . Hm. Well i say no to kale. Mm. Yeah, they say if you blanch it its better, but that seems like a lot of work. No hidden fees. No platform fees. No trade minimums. And yes, its all at one low price. Td ameritrade. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Neil all right. Not only for what you owe, what you want to make but Mortgage Rates are falling at about 3. 73 for a 30year fixedrate mortgage, but what is happening on the savings side will hurt those who were doing everything right, trying to save their money. Now theyre going to get less for their money. At least some latest examples indicate that. Gerri willis with more on that from the new york Stock Exchange. Reporter neil, thats right. Traders as you know at the exchange widely expect a rate cut from the Federal Reserve next month. Goldman sachs, Ally Financial are beating the central bank to the punch. Goldman cutting high yield savings account on banking platform marcus, from 2. 1 to 2. 2 . This following allis decision to do the same. Ally said in note to customers. Interest rates on thedown swing, expected to fall further. There is powerful incentive to get in front of the fed. For every 10 basis points, ally lowers earnings rate, they boost earnings by 10 . He told Maria Bartiromo this morning he thinks treasury yields are influencing the banks move. Listen. The reason you may see some of these lowering of deposit rates, the three month treasury has moved down. It is actually inverted. And weve seen, were seeing sluggishness in the two year and fiveyear and the 10year. Reporter but even with a 10 basis point rate cut, bank rate chief financial analyst telling fox business this afternoon that ally an market savers are still coming out ahead. Why is that . Because many banks have not raised payouts on high yield accounts in past four years even as the fed hiked rates. National average on high yield accounts now, just 10 basis points. Neil amazing. They have a still a big edge in that regard. Thank you very much. Reporter youre welcome. Neil President Trump meeting with china xi xinpings this morning who will blink . Can they talk about a deal or construct of a deal . Former ambassador to china under president obama, gary locke. Good to see you. Neil what is your sense about the meeting . Good to talk about a deal and i think theyre close to a deal. It is unfortunate things unraveled over a month ago but these things do happen. They had two deals announced before up secretary ross and one undersecretary mnuchin, the white house the next day disavowed those agreements. These things happen. Lets hope that they have a personal chemistry. They agree their folks will continue talking, start resuming talking, hopefully finalize a deal. Both countries need a deal. In fact the World Economy is slowing down and suffering from the slowdown of both the United States and the chinese with respect to the trade tensions. Neil ambassador, i am wondering what life will be like once we get a deal . Confidence, regardless where you stan politically, i dont know when a deal will happen but both have made big changes the way they deal with the other over the last few months. A lot of u. S. Manufacturers kind of spreading the wealth, you know, getting out of china or sharing that manufacturing in nearby locales, vietnam, thailand, mexico. The chinese themselves finding alternatives to american markets what happens after a deal is scored, its a different landscape entirely. What do you think . I think it will be different. American manufacturers want to hedge their bets. In case there is blow up or military, political issue, environmental issue. They will hedge their bets. They will supply chain even in the chinese. They are not sure whether the administration will slap tariffs for some other reason down in the future, down the road or any other administration for that matter. Everybody wants to start diversifying. Reality neared side has many choices. Vietnam has not a huge supply chain infrastructure to bring in a lot of sophisticated component parts, whether, from around the world or certainly from vietnam. China has that down to almost a art and a science. At the same time, trying to get soybeans from brazil, there are not enough soybeans from brazil. You could try to buy more airbus airplanes, but airbus has a huge backlog. So there will be some modest changes. Hedging their best, you can expect huge changes for many, many years. Neil ambassador, good catching up with you. Thank you, sir. Thank you. Neil meanwhile joe piscopo every candidate in the big debates missed a very big chance. Find out what that was and is, even now, after this. And it really shows. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. It was funny because when we would call another Insurance Company, hey would say oh we cant beat usaa were the webber family. Were the tenneys were the hayles, and were usaa members for life. Get your usaa Auto Insurance quote today. Csaid alice. 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Ruptured spleen, sometimes fatal as well as serious lung problems allergic reactions, kidney injuries and capillary leak syndrome have occurred. Report abdominal or shoulder tip pain, trouble breathing or allergic reactions to your doctor right away. In patients with sickle cell disorders, serious, sometimes fatal crises can occur. The most common side effect is bone and muscle ache. If youd rather be home ask your doctor about neulasta® onpro. Pay no more than 5 per dose with copay card. Race your hand if your government plan would provide coverage for undocumented immigrants . [cheers and applause] neil some of them were checking did he raise hi hand . I will raise mine. New york post cover signaling this will be losing issue for democrats. Is it . I love the question, who wants to lose the election . Emma michelle is here, new york city councilman, republican whip, joe borelli, democratic strategist andrew feldman. Start with you. Do you think this will come back to bite them . No, absolutely not. The American Public sees the way the administration are treating immigrants trying to come into this country to make better lives for themselves, their family and our nation as despicable. I think reality is that both giving insurance to folks that are undocumented is one smart thing for our moral compass but also a smart thing for the economy in the long term here in the United States. Neil i dont know. Emma, a lot of americans, legal american citizens looking at that having a tough time getting such coverage to see folks who are illegal are getting it ahead of them. That might not sit well with them. Right. We can talk about the moral compass all day but at the end of the day these policies will bankrupt the country. Talking about medicare for all, that is already a very controversial topic. Most americans do not want that. When you bring in Illegal Immigrants, people who are not american citizens, talk about giving them medicare funded by taxpayers here in america that does not poll well with americans. A lot of people are asking where does this come from . These concepts are popular on College Campus which i am on with campus reform. They have migrated from College Campuses to the general public where the far left loves these concepts. Neil joe borelli, the president seizing on this and other remarks from the debate. He said he didnt watch it. We think he might have taken a peek at it. He watched. Neil the party might as well rename themselves socialist. What do you think of that . You saw last night multiple examples of the Democratic Party leaning hard left, making a solid, solid move to the left, whether it is the medicare for all, whether it is giving away the store to Illegal Immigrants, whether having open borders, banning all guns, go down the democratic priority checklist, it all came out. I think last night the real winner was trump in the sense that you got this impression that a lot of these candidates are not necessarily serious people and, this idea of giving away Free Health Care to Illegal Immigrants is going to be music to the ears of donald trump, ronna mcdaniel, pretty much everyone else outside of the Democratic Party base. Remember something neil andrew, do you get a sense, i know how you feel on this particular show, and others, might say, polls are very early, still show the president trailing at least some of the prominent democrats, some cases by double digits, in many states he won and flipped republican, that Something Like this risks it for democrats when they go too far . Are they hurting themselves. I dont think this goes too far, neil. First of all, no one said last night at the debate they would give undocumented immigrants before other folks. Lets remember, when undocumented immigrants, some 11 million in our country today, that go to the emergency room, guess what . That is taxpayer dollars. Neil wait a minute. Youre splitting hairs. Are you saying that what they meant to say is we are going to give Illegal Immigrants health care but not before we if i have it to americans . Because not a one of them said that. That is not what they said though. Neil no, but but they didnt say this, they were asked a question, would you give Illegal Immigrants health care . Every single one of them raised their hand. There were no caveats or asterisks attached to it. That is the right thing to do for the economy. Neil you said, in your answer that they were going to do it before americans had Health Care First . No. No one said that they were going to do it before or after. They said yes, as part of the policy. These folks it makes sense for neil no, no. That is not how you answered my. I want to know did you think there were any caveats to that . Yeah i think absolutely will be caveats. Like joe biden said last night he would still deport folks that had criminal record, absolutely. Neil okay. But reality is here, Donald Trumps numbers are underwater because the folks that he committed to helping when he ran on 2016 are struggling. So neil were veering what i asked. Emma, i want to go back is it your sense, Something Like this will be built into a campaign ad and president , republicans will say, fine, morally you feel about this, ethically you feel about this, it will cost you . I can see the ad being made. Absolutely, i think last night was republican fundraisers dream, when you look at things democrats pushing for, these are not things that can win a general election, will not get swing voters in swing states. Completely disagree. Neil but joe borelli, this is another point may be republicans should be worried about, addresses what andrew was raising given economy, dont want to give the president full credit, he is in the battle of his life and why is he . If democrats want to make the 2020 election like 2016 and focus on economy and immigration. That is a fight most republicans want to have. We have a lowest unemployment since the beatles were a brand. Growth in the stock market which democrats wanted to down play. We have wage growth. Economy take it off issue for democrats. Most didnt want to talk about it last night. For immigration the democrats are not offering a plan, the only plan they spoke about with immigration offering Free Health Care. Neil there is lot of debates to go. A lot of hurdles to overcome, back and forth in key states. Ii want to thank you for taking time. Sad news over the Dominican Republic, 14 u. S. Tourists deaths tied to the vacation haven yet a lot of travelers are still going there, after this. [inaudible]. As long as the sieve assumption, that well be fine. Hey im bill slowsky jr. , i live on my own now ive got xfinity, because i like to live life in the fast lane. Unlike my parents. You rambling about xfinity again . Youre so cute when you get excited. Anyways. Ive got their app right here, i can troubleshoot. I can schedule a time for them to call me back, its great you have our number programmed in . Ya i dont even know your phone anymore. Excuse me . what . I dont know your phone number. Aw well. He doesnt know our phone number you have our fax number, obviously. Todays xfinity service. Simple. Easy. Awesome. Ill pass. Neil you heard about the heat wave United States, nothing like paris. Hottest day ever, 113 degrees fahrenheit. The heat wave alone already killed two people. Travelers are heading to the Dominican Republic despite the recent deaths. Take a look. Some people are having second thoughts, did you have second thoughts . My trip is nonrefundable. That is how that goes. If i could get a refund i would go elsewhere, but you have to live your life. What about saying to heck with the money . No i cant. 1800, boo. No for this one. [laughter]. Neil hardly scientific, but what they seem to be saying. We cant get our money back we might as well go. To a Consumer Travel expert, what do you think of that . There have been number of recent publicized deaths from the Dominican Republic, but what the state department is saying that is not unusual compared to other years. While they have been highly publicized in the past couple months, this isnt necessarily out of the usual realm. Neil you know, this idea that a lot of people, of course, as i said it wasnt scientific, in the survey taken at an airport, but i would think that if you had your druthers, you could pick, you know, caribbean nation to visit, theyre all beautiful, with gorgeous beaches and the rest you pick another place or less risky place. Some have done that. Bookings i heard are down 70 plus percent, there are a few sturdy few that say i will go there. What is driving this . Like the folks were polled were saying, number of people cant get money back from their vacations and decided to go. The other factor the state department has not raised advisory level from level 2 which means neil why didnt the state department do that . Youre saying that is not out of the normal range of incidents reported but the state department is normally cognizant you might want to know this, you might want to be aware of this, what do you think . There are still number of ongoing investigations that the fbi is assisting with the Dominican Republic government. So those are, you know, are supposed to wrap up very soon. Well see some more conclusions but right now they are not raising the travel advisory. That being said, if anyone booked their flight through delta, jetblue, both offered to waive change fees. If you want to change your flight to a different time, you wont have to pay the change fee. Neil a lot of people told us dont even use the mini bar, whatever, but some are cautious about drinking period there. What do you think of that . You know i think that makes a lot of sense. Really anywhere you go, if youre buying a drink you should be checking to make sure it is coming from a closed container or at a bar, actually watching the person making your drink. Those are just general safety tips we should remember even when were on vacation. Neil thank you very, very much. Thank you. Neil all right, looking at corner of wall and broad now. Dow up 97 point. Looks like about 20 of the dow 30 are up right now and wouldnt you know, they are the ones that would benefit from a potential trade deal. Again i say potential. Well know when two president s of the countries sit down to talk with each other 11 hours or so from now, whatever the case, however we close the day, very likely the dow will end the month with the best single june performance since 1938. Then what happens in july . After this. Oh no, no, no, no, no, no, no. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. Back then, we checked our zero times a day. Times change. Eyes havent. Thats why theres ocuvite. Screen light. Sunlight. Longer hours. Eyes today are stressed but ocuvite has vital nutrients to help protect them. Ocuvite. Eye nutrition for today. Is where people first gathered to form the Stock Exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Neil all right. Welcome back. Im neil cavuto. You are watching fox business. Of course, everyone paying very close attention to what will happen at that meeting of the two president s of the two largest economies on the planet. The president with a sitdown with xi jinping. We are told when they do sit down, they are going to be talking economic security. We do know that the president is meeting with Angela Merkel from germany, talking military security as well. Expect both issues to be prominent themes on discussions on china and iran. Former Deputy Assistant secretary of the army joins us now. Good to have you. Great to be with you. Neil we might not get a deal. We might get the constructs of a deal. That was one chinese aide referring to todays sitdown the president plans to have with his chinese counterpart. Will that be good enough . It will be pretty good. The president says hes expecting a productive day tomorrow with president xi jinping and he thinks its going to be a very exciting day. I will say this. I think the president is in a pretty good mood right now. When he got there he was doing fist bumps with the Prime Minister of india and japan, and you talk about Angela Merkel, he called hr a fantastic person, a fantastic person, hes glad that shes his friend. Hes in a really good mood right now. Neil i wondered, especially the merkel phrase, because he criticized the germans for buying gas from russia, et cetera. He might be in a good mind frame because of a potential deal. If we dont get one, not that one would be signed, sealed and delivered before he leaves osaka but if we get the broad constructs of one, do you think it will change chinese behavior or you hopeful of that . Because you have expressed reservations about the honesty of the chinese and how they hoodwinked other american president s. What do you think . They have been stealing intellectual property for years but i would say this as far as iran is concerned. Iran looms large over this whole g20 summit, whether you are talking about russia, i know hes meeting with the leadership of saudi arabia today, be it merkel, be it china, whatever, but it looms so large. One thing thats interesting to note about the chinese, the chinese did actually support the u. N. Security Council Resolution and enforced it, where the iranians were laundering money through chinese banks and north korea. That was a positive step there. Whats happened now with iran, lets face it, we helped cut off thaer markets and they are feeling heat and pressure from within. Food prices have been up now 85 in the last year. I think you need to keep the pressure on. Neil thank you very much, van. Lfrment ba all right. Back to trade and what the administration is telegraphing. Blake burman in osaka with the latest. Reporter what they are telegraphing is the expectations with this one are low. We have got this meeting that is set to take place later today between the two leaders of the u. S. And china. President trump and president xi jinping. But not much is expected to come out of this. We can tell you today, though, at least here in osaka that the top trade representative for china, lie he, was spotted walking into the hotel where the u. S. Delegation is staying. One Senior Administration official telling me there was a meeting scheduled between liu he, robert lighthizer, u. S. Trade representative, and steve mnuchin, treasury secretary. You can connect the dots and put together that there were lower level or at least the first level underneath the president ial level discussions to sort of tee up this meeting between President Trump and president xi later today. There have been some reports going into this that there might be some sort of a truce as it relates to tariffs or the possibility of added tariffs down the line. President trump earlier today shot that down. Listen here. A lot of people are talking about it and its very interesting, and its going to come out hopefully well with both countries and ultimately it will work out. Reporter [ inaudible ]. I havent, no. Good question. No. Reporter a senior negotiator for the chinese side says there are a couple major conditions president xi will be asking for Going Forward which is to reverse the ban against huawei and then to roll back all the tariffs. Those arent just sort of lower level second and third tier kind of items. Those are top of the ticket items. It makes you wonder if indeed president xi is going to go into that meeting and ask for that as we are led to believe going into this, what china might be willing to offer, because those are two huge items. It is just sort of the stage, you could say, that has been set going into this meeting later today. Neil . Neil like you said, there are no preconditions but what would our preconditions be for their preconditions. We will see. Thank you, blake, very, very much. Blake burman. Back to the debate and whether a lot of what you heard last night is the stuff that could derail a market rally. Take a look. We do that by placing a tax on wall street. Every proposal that i have brought forth is fully paid for. Donald trump thinks wall street built america. I will repeal that tax bill that benefits the top 1 and the biggest corporations. Neil all right. To policy strategist greg valiere on all of this. To a man or woman, they didnt go so far as to say all right, 70 top rate as the new york mayor was indicating the night prior. They are all for sticking it to wall street, all for sticking it to corporations and all for sticking it to wealthy people. Its just a difference how they would do so. Hows that going to play out . Number one, they are just pandering to the base, obviously. Its red meat for these left wing base. Number two, the major point here, i yell at the television sometimes when i hear these debates. This stuff would never get through the senate. I think the senate will stay republican after the 2020 election. Neil what if it doesnt . Would it have a better chance . Do you need 50 votes or 60 . If you need 60, obviously that wouldnt happen. I think they can talk about all this crazy stuff, green new deal, all these expensive programs. They would never get through the senate. Neil you know, say this about Bernie Sanders. Theres an honesty to him. You might not accept or reject what hes offering, but he was freely admitting yeah, the middle class is going to pay more in taxes but, but they will get a lot more back in health care savings. People can argue that until the cows come home but it was an interesting reminder that hes one of the few who has put pen to paper, says this is how to pay for all of this. The others have not done that in great detail. I find it wasnt a great debate for him stylistically. He shouts all the time and lectures, seems really angry. But yes, he was candid. He admitted you would have to raise some taxes. The issue of course is whats middle class, whats upper class, who gets hit with higher taxes. In listening to him, i got the impression just about everybody could be vulnerable to a tax hike. Neil there was another point in the debate, too, it struck me as maybe peer pressure, where they asked for a show of hands, would you support, you know, health care for illegals and there were similar moments like that where they all raised their hand but there were a couple watched what were the others doing. I always thought what is the risk with not raising your hand. What is the risk with saying no, no, thats a little too far . Is there such concern to being captive to the base that you dont want to tick the base off . Yeah. I mean, this is one of the many flaws we have this nominating president s, the base now has such a disproportionate influence on everything. Youve got to say all the things that make them happy. If senator bennet from colorado, for example, says we need to pay for this, we cant go overboard, people will boo and his. Same with hickenlooper. You have to say that the moderate lane in this party is a very, very narrow lane right now. Neil Kamala Harris. How do you think she fared . Very well. As you know, they moved up the california primary to march 3rd. I think she will do very well there. I think she will have a lot of delegates by the middle of the spring. I think neil so its not a winner take all, right . Thats correct. Shes going to get a good chunk. I said for awhile and i still think she will be on the ticket. I think maybe as a running mate. But her chances of being the nominee went up a lot last night. Neil if it were joe lieberman, would he even want her on the ticket. Thats right. But if its biden, considering his issues with africanamericans now, thats a big deal for biden. I think his support is going to begin to dwindle among african americans. He might need someone like Kamala Harris. Neil there is obviously a disconnect between wall street and its performance and main street. I get that and appreciate that. The president as you know has constantly talked about how the markets doing and how the economy has been faring, often linking them. But it doesnt at least at this stage get him much payoff in the polls. That could change. But what do you think is holding him back, all the other stuff . What is it . In a word, trade. I think the anxiety, the uncertainty among farmers, among businesses, is only going to grow if we dont get something today, if we dont resume talks. I think this uncertainty in the economy is starting to become corrosi corrosive. Trump needs to realize that. Neil if he doesnt get a deal, hes in trouble . Hes in trouble but i would say this. The longer we go without a deal, the longer the fed has to stay accommodative. If we go until christmas without a trade deal, we might get a two or even three more rate cuts which is exactly what trump wants. Neil there is irony to that. Jerome powell, the guy he rips a new one almost every day, essentially has his back if he screws up on the trade front. Well, thats right. We will get a rate cut i think almost certainly at the end of july, maybe a couple more in the second half. Frankly, i dont think trump should be in any hurry to get a trade deal because it keeps the fed on an easing path. Neil yeah. I think youre right about that. Which means you should run the other way. Always good talking to you. You bet. Take care. Neil the president was hitting back on what he saw, particularly this issue of health care for all illegals. Listen. I just passed a Television Set on the way here. I saw that health care and maximum health care was given to 100 of the Illegal Immigrants coming into our country by leading democrats and unfortunately, they couldnt discuss [ inaudible ] to american citizens. Thats not a good thing. indistinguishable muttering that was awful. Why are you so good at this . Had a coach in high school. Really helped me up my game. I had a coach. Math. Ooh. So, why dont traders have coaches . Who says they dont . Coach mcadoo you know, at td ameritrade, we offer free access to coaches and a full education curriculum just to help you improve your skills. Boom mad skills. Education to take your trading to the next level. Only with td ameritrade. Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. Neil all right. One for all, all for one and whether you were nervous, raise your hand or not, every single candidate in the democratic debate backed providing health care for Illegal Immigrants. Border Patrol Council Vice President on what that means. I would imagine at the very least, art, its going to mean, you know, it becomes a very popular place to be, the United States. Its actually going to build up some of the tensions you have been dealing in the past at the border, right . I mean, its already a popular place. I can tell you right now. We are undermanned, overcapacity, underbudgeted and now i guess some of the budget when these people are offering to go ahead and give it to the illegal aliens. Listen, i understand that some of these individuals, they jump into the United States, they fall off of a fence, where there is fencing, and some of them get hurt and obviously when we have them in these detention facilities, i can tell you right now, they do receive medical care. I mean, its a good question. I would like to find out what extra medical care it is that theyre talking about. Perhaps its the many that we catch and we release will be receiving Free Medical Health care. But i mean, it is concerning, especially when you see so many people in the United States, you know, that are in need of some care themselves. Neil im wondering now with this measure approved late yesterday in the house to provide 4. 6 billion for helping your guys out and helping the kids and migrants in general, are you confident that that will at least ease some of the tension and problems at some of these facilities . I mean, obviously its something thats very necessary, but it failed to address a lot of these loopholes that continues to allow these people to come and be released. Thats the ultimate, you know. There is still that magnet. If you still have a magnet for individuals to break our laws, then there is no reason for them not to continue breaking the law. I think thats whats very important. Neil what they left out of this and they think the president , whenever he deals with mexico and the mexican commitment will settle this separately, using this waiting period for migrants to sort of wait it out in mexico, not the United States. What do you think of that plan . Thats actually, that would be a humongous help because thats where we are having the issues. We are having these individuals that are coming across, they are claiming asylum, they are being released within the United States, and we are never hearing from them again. That is the major problem. Thats something that we continue to complain about, thats something that is a big issue. So having them wait in the country where they came through, that only makes sense. If they are seeking asylum from their country and mexico is saying youre okay to be here, and its obvious because they allow them to travel through their country, then i dont see what the issue would be for them to wait there and at least we would have some type of control and not just release them into the United States and never hear from them. That seems to be the biggest problem. Neil you would know more about this than i do but a number of democrats i have had on the show have said this argument that they dont show up for followup is actually wrong, that 60 of them ultimately do. Virtually 100 have to show up for the first immediate hearing, where it is adjudicated, the second hearing if there were more judges to adjudicate these cases, whether they be at the border or in this country, so is it as big a problem as its been presented . Let me explain the way it works. The first initial appearance, they have no choice but to show up because they are still in custody. I mean, there would be no way for them to evade it. They are still in our custody. But after that, that is where the problems are. Once we release them because we cant detain them in our facilities, and that is definitely a problem. You know, like i said, it has nothing to do with Political Parties in the end. You are voted on as a politician to serve the American People and i think that should be your number one priority, the good old United States of america. Neil are you absolutely right about that. Quit playing politics, get something done. The two sides agree a lot more than they disagree on the bigger issues here. We will see what happens. Art, thank you very much. Thank you for having me. Neil the border Patrol Council Vice President. All right. We are getting some new details on this. We are closing on the anniversary of apollo 11. Nasas new strategy to go to saturns largest moon. We have already volunteered charlie gasparino. Openturning 50 opens theuard. Door to a lot of new things. Like now your doctor may be talking to you about screening for colon cancer. Luckily theres me, cologuard. The noninvasive test you use at home. It all starts when your Doctor Orders me. Then its as easy as get, go, gone. You get me when im delivered. 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A get your questions answered by awesome experts store. Its a now theres one store that connects your life like never before store. The xfinity store is here. And its simple, easy, awesome. Neil all right. The wall street journal is reporting right now that u. S. Officials have concluded that some of these recent drone attacks on saudi arabias oil industry were actually launched from iraq, not yemen. The reason why that could be a Significant Development is it raises concerns that some of irans allies in the region are trying to open a new front, a new conflict, if you will, betweeni tehran and washington, where tehran could see we dont know where these guys are. Hard to say. Supposedly the administration is looking into it. Secretary of state mike pompeo urging iraqs Prime Minister to ensure iraq is not used as a staging place for these attacks. Fannie mae and freddie mac going positive. Charlie gasparino on that. They might be. Heres how you know there are at least talks and serious talks, serious preparations going on. What Fox News Network has been able to confirm is jpmorgan, biggest bank in the country, held this pretty interesting meeting on tuesday with bankers from a boutique investment bank. They are very much immersed in the future of fannie and freddie which are now wards of the government. Trump administration couple weeks ago had plans to release them, there was going to be some plan, then next step comes how do you recapitalize them and the whisper number on wall street is Something Like a possible 100 billion ipo or actually wouldnt be an ipo, it would be kind of an ipo, a reissuing, a secondary. As you know, they are coming out of government control so it will be kind of new, so its a 100 billion semiipo, and the reason why you know its serious is wall streets gearing up. One way they are gearing up, jpmorgan, which would likely be an underwriter of this deal, as well, had a joint meeting on tuesday. They were talking to both investors and analysts on how this thing would turn out, how the current bond holders would be taken care of excuse me, current stockholders, will they get completely diluted, half diluted. Neil what would happen to them . Theres two stories here. Theres the financial story, if you hold the stuff. Widely is the preferred stockholders would be okay, they would probably, you know, wherever its trading now, probably that will be what you are probably going to get. Its very unclear with common stockholders. You might be totally diluted meaning shares are where they are now, Something Like 2 a share. Then theres the future of fannie and freddie. This is a politically fraught issue. Fannie and freddie buys mortgages from banks. They allow banks to make mortgages to average people, particularly 30year mortgages. Without them, theoretically, you would not have a 30year mortgage market. Okay . Does trump really want to roll the dice on screwing up these things in an election year. It looks like they are moving forward with something radical but that could screw stuff up. So this is both a political story, its a housing story, because average people, basically, are allowed to borrow from banks neil how did they avoid any of the punishment that was meted out after the meltdown . If you are talking neil punishment, but the government took them over and wiped out the equity, almost. It started taking, when they started making money, taking the money and putting it into the treasury. If you talk to shareholders, they would say fannie and freddie got taken over by the government. Neil i want to get your thoughts on this. Joe biden at the Rainbow Coalition event in chicago. I think i saw Jesse Jackson a few minutes ago. How do you think he did last night . He was universally panned for his performance. What do you think . I thought he did okay. Listen, everybody says hes senile. Thats the sort of whiswhisper,s too old. I thought he handled the questions okay. He could have been better. I dont think you stop yourself from talking. A few times he said my times up. I dont think you should go there. Neil thats a good snl skit. You wonder why hes saying that. Is that because he doesnt want to say anything stupid. I dont think i bet it doesnt hurt him that much in the polls. Kamala harris went after him and looks good and will probably move up. But heres the thing i worry about joe biden. Okay . His unforced errors are so are just so bad. It wasnt that he spoke about, listen, i had a deal with segregationists. Its some of the other language he used in that and you would think like why would he even go there. That makes me think this guy is so undisciplined that hes not going to be able to get through this. Neil he spends an enormous amount of time talking about how you got to work with the other side, but in bringing up that argument, he talks about even working with segregationists and all. To the base of the party, thats anathema. Its not even that. Remember what he said, that is anathema to the base but, you know, its not anathema to most of the country. Neil i agree. I agree. When he said the word, one of the segregationists, i cant remember which one, never called me boy, called me son, that was such a stupid thing to say. Neil just compounding the error. Not even that. Just who would go there . Neil the money guys now rethinking maybe he isnt a sure bet . Or this is going to be a protracted race more than we thought . I think they have to, particularly after that comment about how he said it like the guy always called me son because it was such not a smart thing to say that if you are going to go there on that, theres going to be a lot more. I mean, you know, what is he going to say during Cinco De Mayo . This guy is just, i dont know if he can get through this. What do you think . Neil i ask the questions. Im just telling you, i dont think its scary. Think about it this way. If its not him, did you see what they want to do . They just want to give free stuff out. Including noncitizens. Neil youre paying for it. Yeah, i know. You make more than me. You are the one thats got to ante up here. Neil i think maybe youre thinking about yourself a lot. A little bit. A little bit. You think i should vote for Bernie Sanders . Neil i think i will put you on this new nasa mission to titan. Its the largest moon in the solar system. Is that saturn . Neil saturn. Thank you. Times up. By the way, apple is now going to lose its chief designer, jony ive, the guy behind almost every single landmark product dating back to steve jobs the company ever made. He was called mr. Elegant. He was the guy behind that. Hes leaving. Now what for apple . After this. Is where people first gathered to form the Stock Exchangeee, which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. Neil all right. Airlines are extending these boeing 737 max groundings and its getting further and further until they allow them back to flying. Legally a lot of them arent taking any chances, they just dont want to. It was supposed to be by now, then it was going to be late july and then it was going to be august. Its now virtually pushed off until the end of the year, if then. Then theres some news out of apple that jony ive is leaving the company. Hes the guy who was instrumental working with steve jobs for the elegant look and feel of some of the most popular apple products, including the iphone itself, ipad, you name it. The look and feel of some of their bestselling laptops and desktops. What happens now . Lets get the read from fox news headline 24 7 anchor on what this could mean for apples future. Normally your star genius, your renaissance guy goes, its hard the replace that. At least right away. It sounds like apple is going to shift strategy. Now, they have designs from him for several years down the road. Youre not going to see a dramatic shift. But it sounds like they are going to move towards a more design by committee traditional tech design, which is very against what aum has been doipp doing the last 20 years and had a lot of success with. Its a question whether they can keep that going. Neil do you know whether he was the big visionary that even Steve Jobs Used to say is he worth all the enormously great press he gets . He does get a lot of good press. The word on the street about him is very positive. Hes been in apple for 30 years. He was there prior to steve jobs but even steve jobs gave him a lot of credit for the design of products that have become staples in america. The original bondi blue imac, the mac book, the g4 cube, if anybody remembers that, the plastic kleene xbox that had a computer inside. Neil not everything was a hit. The design by committee worries for me apple Going Forward with the loss of steve jobs. I know they had a roadmap ahead of them. The design by committee, i fear we will get back to the days, apple fans will remember the quadra and 9500 and 9300, plain beige boxes that ticked all the boxes for what they needed. Neil i know some of these areas down the road maybe they become a media company, they are beefing up those operations to be sure, but i dont know. Their cachet is that. But there are elements where they went a little far with their design and kind of hindered usability. Recent keyboards they develop look really nice, they are super tiny. They are not pleasant to type on. They have kind of prioritized design over functionality. It would be nice to see that shift a little bit away from what they have been doing moving forward. Neil let me switch gears if i can on twitters new policy about policing maybe, i dont know, aggressive political hits or attacks. I always thought that it sounds to me like it will draw more attention to it. Yeah. We were talking in the break. When you are scrolling through your twitter feed and see this content is blocked, of course you will click on it because you want to see what it is. It was an odd announcement from twitter. You know, look, they have an uphill battle on this situation. Theres no federal regulation in the u. S. About what is considered hate speech or whats considered abusive or bullying. So its kind of up to them. Then that argument, the flipside of the argument is always well, you are censoring peoples speech even though they are a private company or they are a public company. Neil you dont even think its going to work but it might say i see what were doing. The important thing is twitter does not want to abandon the giant traffic they get from having donald trump on that platform, having the president of iran on that platform. Neil wouldnt it be Donald Trumps tweets that are blocked . Well, but theyre not blocked. They just have a warning indicating that it might be against their current rule set. All thats going to do is get people to click through. But it gives them as you said, cover to say well, we know this is against our rule set if the iranian president says all of israel should be eradicated, thats against our rules, we cant allow that, but its important and newsworthy so we need to allow people to see that if they want to. It is kind of a best of both worlds, worst of both worlds kind of thing. Neil it draws more eyeballs. Also, when you are talking about these world leaders, if the president really has something important to say, theres an entire media apparatus in our country that will show up at his door and listen to what he has to say. Twitter doesnt want that. Twitter want people seeing it there. Neil boxed or highlighted or not, they wont keep things out. Its definitely not going to change his behavior. Nothing has done that from 2015 through now. I think it will increase his argument that hey, everyones out to get me. Neil or regulate these guys. If he knew he could get maybe double the normal traffic he normally gets, he might secretly like it. Amp it up, maybe. I dont know what that looks like. Neil gentlemen, thank you very, very much. Meantime, democrats are divided over governmentrun health care versus private insurance but when it comes to the candidates running for president of the United States, they are actually on the same page. After this. Carvana is six years old this year and is the Fastest Growing place to buy a car in the nation. Its because we have thousands of people working hard to make our customers experiences the best. Its because we have tens of thousands of cars ready to be delivered to your doorstep. And its why hundreds of thousands of happy customers have ditched the dealership and bought their car online, earning us an average 4. 7 stars in the process. So if you didnt know about us before, you do now. Were carvana, and we want to give you the car buying experience you deserve. So. How are you feeling on a scale of one to five . Wait. When it comes to feelings, its more like five million. Theres everything from happy to extremely happy. Theres also angry. Im really angry, clive actually, really angry. Thank you. And seat 36b angry. Youre clive owen. And youre barefoot. Yeah. Theres also apprehension. Regret. Relief. Oh and theres empathy. Ah, i got this in zurich actually, whats the opposite of empathy . But what if your business could understand what your customers are feeling. And then do something about it. You can turn disappointment into gratitude. Clive, you got to try this. I cant im working. Turn problems into opportunities. Thanks drone. Change the future of your business change the whole experience. Alright who wants to go again . I do i do i have a really good feeling about this. Neil they say timing is everything. The democrats the last couple of nights were talking about raising taxes. The white house is reportedly considering cutting them when it comes to Capital Gains. That would be something that on paper would seem to benefit the wealthy but the white house argument is a little different than that. Hillary vaughn at the white house with more. Reporter hey, neil, well Administration Officials at the white house reportedly pushing this through. The plan would be to get the Capital Gains index tax cuts to go through before the 2020 election, but thats easier said than done. Timing is everything here. The white house is expecting pushback from capitol hill, from democrats that have been very critical of this issue. The argument is the indexing Capital Gains would slash tax bills for investors when they sell stock or real estate by adjusting the original purchase price, so no tax is paid on appreciation tied to inflation but critics of the idea say it mostly benefits the 1 and could push investors to sell. Penn wharton budget model estimates the top 1 of taxpayers would get about 86 of this benefit from the Capital Gains tax cut and would drop tax revenue by more than 100 billion over ten years. But supporters of the cut say that with the government taking less, investors are set to gain more so they are going to invest more money because they can make more. The idea would get pushback on capitol hill so reportedly white house officials are looking at pushing this through through an executive order, but it is interesting to take a walk down memory lane. In 1992, several key democrats actually spoke in favor of indexing Capital Gains. One of those was then congressman chuck schumer, who spoke on the house floor in support of indexing Capital Gains, and actually voted to not tax inflation. Along with him, nancy pelosi and berniened sanders. Neil . Neil i did not know that. Thank you very much, hillary vaughn. Meanwhile, its interesting to see this back and forth about all the Spending Plans the democrats had, but this one caught my attention as well. Democratic candidates put on the spot about Health Care Plans and who pays what. Take a look. Who here would abolish their private Health Insurance in favor of a governmentrun plan . All right. Who here would abolish their private Health Insurance in favor of a governmentrun plan, just a show of hands to start out with. Neil whats interesting about that, it wasnt the same thing as providing Health Care Benefits for illegals. I dont know what that means but that was unanimous. Wall street Journal Editorial Board member Dan Henninger on all this. It was an oddity in and of itself. The oddity was why Kamala Harris raised her hand. The others, Bernie Sanders, Elizabeth Warren and bill de blasio, that is the definite left wing of the Democratic Party. It was not so obvious that Kamala Harris wanted to be in that group. But there she was saying that private Health Care Plans would be eliminated under what they are proposing. This is really a pretty radical idea. Tens of millions of americans have private Health Care Plans, many of those people belong to unions, as congressman john delaney pointed out on wednesday night, and its not at all obvious a lot of these people want to go into something called medicare for all. Keep in mind, neil, they keep throwing around this phrase medicare for all. Medicare is the Health Care Plan for retired people, people who have worked all their lives, gave up their private insurance, they go on to medicare. If you are a couple say in your 40s with a family of two or three, do you want to really give up the private Health Insurance that you have working for a company and go into Retirement Plan thats designed for elderly people . I really have my doubts about that. Neil even barack obama said if you like your health care, you can keep your health care. There are a lot of issues that were raised whether that was all together truthful but he recognized the third rail potential danger of saying we will take away the coverage you have now, for the 90 who have health care, and upend it for the 10 who dont. It looks like a campaign ad in the making. It does but you mentioned the third rail. Health care is looking more and more like a Bermuda Triangle for politicians. Its at the top of the list of a lot of peoples concerns, to be sure. Look what we have been through. We went through obamacare, had a lot of flaws in it, you cannot keep your doctor if you want to. Then the republicans said they were going to take it on. They failed to solve the problem. Now youve got the Democratic Candidates saying let us do it, in ways that i think are going to discomfort a lot of american voters. While everyone talks a good game about doing something about health care, when you get down into the details, and again, last night, Bernie Sanders actually said middle class taxes would rise under his plan, but your health care would be different, i mean, would be better. I think theres going to be a lot of pushback on bernie saying on the one hand youre raising taxes but promising that Public Health care is going to be better, thats a big promise. Neil then you are going to save all that money youre paying extra in taxes. Yeah. Is your health care actually going to improve if the government, thats another thing that surprised me, they have so much faith in the government running these programs, when a lot of americans are becoming more and more skeptical about the ability of the government to execute on their behalf. Neil they werent in total agreement on that. They were in total agreement on without a doubt providing health care for illegals. Thats another campaign ad, i would think. Yeah. You can just see donald trump running straight at that. I mean, most americans think we should be humanitarian about the illegals and about the problems at the border, but the idea that you then leap to providing Free Health Care for people like that, that american citizens are supposed to pay for . Neil many citizens dont have health care themselves. In addition to all the other Government Spending democrats are proposing on top of that, they want tax payers to pay for medical care for illegals coming across the border . You can just see donald trump neil im beginning to get a sense of how the fall will shake out. Thank you very much, Dan Henninger. Meantime, want to let you know the socalled millionaires tax, they put the kibosh on that in new jersey but not entirely. Its an issue they hope to revisit later on. That is the governor fighting with the democratic leadership in his own legislature. Its getting nasty. New jerseys pride and joy, joe piscopo on what he makes of it, after this. Fact is, every Insurance Company hopes you drive safely. But allstate actually helps you drive safely. With drivewise. It lets you know when you go too fast. And brake too hard. With feedback to help you drive safer. Giving you the power to actually lower your cost. Unfortunately, it cant do anything about that. Now that you know the truth. Are you in good hands . Youre smart,eat you already knew that. But its also great for finding the perfect used car. Youll see what a fair price is and you can connect with a truecar certified dealer. Now youre even smarter. This is truecar. 4 out of 5 people who have a stroke, their first symptom. Is a stroke. 80 percent of all strokes and Heart Disease . Preventable. And 149 dollars is all it takes to get screened and help take control of your health. Were life line screening. And if youre over 50. Call this number, to schedule an appointment. For five painless screenings that go beyond regular checkups. We use Ultrasound Technology to literally look inside your arteries. For plaque which builds up as you age and increases your risk for stroke and cardiovascular disease. And by getting them through this package, youre saving over 50 . So call today and consider these numbers for just 149 youll receive five screenings that could reveal what your body isnt telling you. Im gonna tell you that was the best 150 i ever spent in my life. Life line screening. The power of prevention. Call now to learn more. Neil all right. Its still not all roses and flowers in new jersey. See what i did there, the garden state. Anyway, the democratic govern phil murphy on abandoning a millionaires tax in the new budget. Its not that its gone. What the governor wanted to do was start kicking in a higher surtax of 10 on those earning more than 1 million. It stands right now limited to those only 5 million and over. Still, the die is cast and the battle is raging now between the Democratic Legislature and the governor who is also a democrat. Its going to get nasty. With us now, joe piscopo, also a new jersey resident. He was sweating that millionaires tax. Now you can relax a little bit. This is a big battle. You are on top of it, mr. Cavuto. You and Steve Sweeney. Steve sweeney, great guy, head of the senate in new jersey, he didnt budge. You mess with Steve Sweeney, you see the size of that guy . Neil ever shake his hand . I know. Hes a union guy and he gets it. Neil he was concerned especially with the limitations on deductions of 10,000 for mortgage thats right. Thats right. Neil you will chase money out. On the radio every morning, its like they cant tax us anymore. I dont care, the middle class is getting like that. You know who listens to my show . A lot of the drivers. The cab drivers. They go joe, they will call in, the congestion pricing they put in, thats a middle class tax. The tolls are going up on the port authority. The tolls are going up. And governor murphy, one of the nicest guys in the world, he really is, but president sweeney is right. You cannot put stop taxing the people. Neil hes going to revisit it. I think he ceased and desisted now but he says the rich have to pay their fair share but the rich are leaving new jersey. In droves. In droves. Neil corporations are leaving, too. If you are in new jersey, you have to be like the companies are leaving, the people are leaving and if you are worth 550 million, a millionaires tax does not mean a lot to you. It cant. But shoutout to governor murphy for bringing the Film Industry back to jersey. Thats good, right . Because we didnt have a Film Industry. Neil sounds like you are very careful of offending him. Im so sick of, on my show i try to put aside the divide between left and right and watching the debates neil what did you think of it . Come on. It was hysterical. You know how funny it was . All bernie can say now, you know, bernies favorite expression no matter what, hes a patholocal liar. Hes a liar. A patholodgical liar. Neil you know he isnt supposed to be funny. Joe biden, what . Huh . I said i love you, dad. What . What . I said i love you dad. An old guy like me, i love seeing the old guys out there. Neil but [ speaking simultaneously ] swalwell. Swalwell. Hickenlooper. How about hickenlooper . Hey, dude, hickenlooper from colorado. Where can i get some munchies out here. Oh, man. Neil Kamala Harris was a rock star. She was great. What she said. But biden has done so much for civil rights. I thought that was a cheap shot. Neil heres one thing that stood out. He had to know this question was coming. Yes, good point. Neil he didnt seem really ready for it. When he cuts his own time off saying im out of time i know. Neil ring the bell, right . Just keep going. Barrel right through it. Listen, Elizabeth Warren, god bless her, every time they go to Elizabeth Warren, its like neil stop doing that. Elizabeth warren. Neil stop doing that. Dont bite me, please, lady. Neil why are you holding up claws . You argue that sometimes Ronald Reagan was good. Obama. The president in front of 20,000 people is funny, you know . When he did the dog walking thing. He had 20,000 people laughing. That was really kind of funny. Neil you think somebodys got to lighten up. Somebodys got to lighten up. In new jersey, same thing. Im telling you, i say it right here in new york on fox business, man, im telling you right now, if governor murphy, if Steve Sweeney does a primary, this is huge in jersey because jersey, new york and california are now socialist states. Neil they have the highest taxes in the country. We cant afford it anymore. Regular people like me who love our state neil first of all, you are not a regular. You are in your own zip code. No, no. But you cant neil lot of people said you should run. If john bramnick, the leader on the gop side, a very smart guy, if he doesnt go in and if mr. Sweeney doesnt go in as an independent, lets go rip it up. Neil Chris Christie made the point even though its a blue state, the ones who have been reelected governors have been the republicans. I thought about that. Thats so true. When i do the debate, i can what is that . Neil i thought at first it was in response to a question. I thought im going like this. Neil you start your radio show insdr indiscriminately veering into italian. You are on fire, young man. You know what, thank you, neil. Its an honor to be here. I got to tell you, we are on the radio every morning, 6 00 to 10 00. All of it, a lot of it happened because of you. Neil oh, stop it. You are a giant. My young producer, hes 12 years old, telling us cut it. Were good. Get the old guy off. Under this buttonwood tree, is where people first gathered to form the Stock Exchange which brought people together to invest in all the things that move us forward. Every day, invesco combines ideas with technology, data with inspiration, investors with solutions. Because the possibilities of life and investing are greater when we come together. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Y. Neil we still can not get enough of joe piscopo. I dont know how many people we offended but its a pretty long list. Fair an and balanced took on everybody. This is last trading day of the month, the quarter, the half year point, putting june in perspective, like like the best june since 1938. I remember it well. Gallon of gas was 10 cents. Average price of a new car, 763 bucks. Howard hughes was setting a new around the world record of three days, 19 hours, about your waiting in traffic own the long island expressway getting to an airport. A little tiny joke there. We have president ial candidate john delaney joining me on my live cavuto show on saturday, 10 00 a. M. Eastern time. Dont forget that. We will have news on china. My bestselling author, friend, Charles Payne. Charles Howard Hughes after that, he had the spruce goose. Dont let success go to your head. Neil god forbid. Charles good afternoon, everyone. Im Charles Payne. This is making money. Stocks higher ahead of the meeting weve been talking about all week. Were just hours away, president s trump and xi will sit down. Well have latest from japan coming right up. Federal reserve, could they given a lot of fodder for Bernie Sanderss socialist message on the day bite stage. It was instead overshadowed by this showdown. I was part of the second