The air max one sneaker is now selling for on one specific secondary market that if youve got a teen son or daughter, nyo know what this is. Its moving as we speak. Meanwhile, boeing moving as well, still dealing with its own controversies at this hour as delays and backlogs of its 737 max jet could soon be cutting into profits. American air carriers still feeling the effects of the grounding of that plane. In fact, they are making changes right now. Wall street journal aviation reporter has broken multiple stories on this. Hes here in a fox business exclusive to give you boeings latest flight plans. Facebook facing its own challenges, with fake cancer cure ads and the scary situation at its headquarters during this hour yesterday. But its Cryptocurrency Libra is full steam ahead. We have one of the key links in the Facebook Libra blockchain. The cofounder and president of a Company Called anchorage. Who and what are they and why is everybody talking about them as one of the strongest links in this new crypto world . Its a fox business exclusive. On wall street, the s p 500, hey, any gain today would be an alltime second Straight Record high. Weve got a gain now of just under a point. We are watching it right now. The dow trading in a tight narrow range here, just 115 points, but we are down only 11 at the moment. The nasdaq, down eight but oil and energy are crumbling. Whats that about . We will tell you. Less than an hour to the closing bell. Lets start the countdown. Liz breaking news. Did europe just take a big step towards saving the European Union . Leaders and eu member nations have just nominated that woman, International Monetary fund chief christine lagarde, to lead the European Central bank. Shes a highly respected former chairwoman of top American Law Firm baker mckenzie, who later served as french finance minister and she will succeed the current ecb president mario draghi whose term ends this october. Lagarde will take a break from her imf duties during the formal nomination process. The 63yearold lagarde widely credited with using a tough hand but an iron glove to finesse the rescue and recovery of greece during its financial crisis. The belief is she will bring european nations together, even ones that are trying to leave the eu or thinking about it, and save the European Union. Well see if she does it. To the markets. Investors are kind of acting like theyve got one foot out the door and to the beach for the fourth of july. We have the markets moving at the moment. Stocks, though, are stuck in a sort of very tight dare i say jittery range but theres a signal screaming something and you guys get to decide. I personally look at this and think it might not be so positive, but it is the tenyear treasury yield. See that number . Right now it is yielding 1. 97 . Yesterday it was at 2. 01 . That is a more than twoyear low. It means that people are flooding into the safe haven asset. The price of the bond rises, the yields are dropping at the moment. This is a fear trade that is playing out at the moment. Part of this may be crude oil, not sure, but crude oil bears are drawing some big blood in the aftermarket session. Check it right now. Just about 20 minutes ago, we were down three points, 3 , rather. We are now down 4. 5 . Weve got this crude awakening for oil as waning Global Demand fears win over production cuts that the opec plus russia just agreed to. They agreed to extend the supply cuts until march of 2020. Thats done. Opec plus includes of course russia and then reports on weak manufacturing here in the u. S. But also, global activity killed the afterglow, leading to todays declines. We remind you, we are in the aftermarket session right now for crude itself but Energy Stocks are trading and boy, are they trading. They are taking a walk down the plank. We have apache, eog both down 5. 5 plus. We have eog, Pioneer Natural Resources and devin energy along with contraresources. Tough day if you own energy names. If you dont, you were looking to buy them, they are at a discount, right . Theres always another side to this. From barrels to kegs. The biggest ipo of the year is on tap. Thats Anheuser Buschs inbev asian arm. Its going to list on the Hong Kong Stock Exchange this month. Budweiser brew iing is looking raise nearly 10 billion. It could be the biggest ever listing of a food or drink Anheuser Busch is up 2. 5 . We know chinese loive it. They like beer. You just saw for a second a flash of the nike stock. Nike is feeling the First Financial effects of its decision to cancel the sale of its betsy ross flag sneaker. Remember how it begins doesnt necessarily mean how it will end. The wall street journal was the first to report that the American Revolution themed sneaker called the nike air max one usa which has that flag on the back by the heel, it will not be sold as planned ahead of the july 4th holiday. Nfl quarterback Colin Kaepernick best known for his controversial kneeling during the national anthem, reportedly told the company that some people find the early American Flag right there on the back quote, offensive, but nothing like a fresh dose of controversy to juice demand. Check it right now. Weve got this website called stockx. Com. It is on your screen right now. It is basically an online secondary marketplace thats selling the shoe that nike pulled, dont know how they got it but they get it, 13 white stars on it, the highest bid for the sneaker right now is 3,000. The highest bid right now, ive got it on my screen, wait a minute, which is it . The lowest ask is 3,000. Last sale, 2500. This is a size 13. I believe they did sell another pair minutes ago for 3,000. That was in just the last hour. Its unbelievable whats happening here. Nike, if you dont think they knew this was going to happen, trust us, they did. 2 05 p. M. Eastern is when they just sold one pair. Again, more than 2500. They are going like hotcakes. Condition, brand new, as you see. This website, who knows, one day they may very well go public. We have been taking a look at nikes stock since the companys controversial decision way back couple of months ago to feature Colin Kaepernick in one of its just do it ads. That was september 4th of last year. The stock is up 6. 5 . Kristina partsinevelos is live outside our studios in new york city, not far from the nike store. You know controversy is not so bad sometimes. Reporter no, definitely. Bad publicity could be good publicity. I reached out to nike twice to find out specifically who influenced their decision to pull the shoe. They have not responded. You have Colin Kaepernick who finds it offensive. You have a lot of people online that are connecting the shoe to not only slavery but White Nationalism as well. However, you have a local politician who is angry at nike for pulling the shoe. This politician is doug doosy, governor of arizona, who says he will revoke financial incentives for nike to open a plant in phoenix worth about 185 million, bringing 500 jobs to the area. He took to twitter to say, i quote, that instead of celebrating American History the week of our nations independence, nike has apparently decided that betsy ross is unworthy and has bowed to the current onslaught of Political Correctness and historical revisionism. Liz guess what . It may have been that, we dont know, but nike has just come out with a statement. Im going to read it. Stay right there. Reporter look at that. Liz ready . It has decided to halt the betsy ross flag shoe based on concerns that it could unintentionally offend and cause detriment to the patriotic holiday. Sorry. You got to stick with me. Detract from the patriotic holiday. Nike is saying quote, it is proud of its american heritage, it supports u. S. Olympic teams. Nike says it remains committed, here it is, kristina, it remains committed to creating jobs in the u. S. And opening new facilities facility, singular, to create 500 new jobs. That must be it, the arizona facility. Reporter yes, because originally, thats whats going to happen. They were going to open a plant worth 185 million and they were going to get all kinds of financial incentives and reimbursements for their jobs. But to bring it full circle, they didnt address the Colin Kaepernick part which is what i was hoping i would get a response for, because we know Colin Kaepernick played in the nfl in 2016, took the kneel during the anthem to raise awareness for racial injustices. Overall, he hasnt been signed but like you mentioned, nike did feature him in an advertisement, much to a lot of opposition. Sales, though, have been doing quite well. If we are going to go full circle, take a look at the nike stock right now. It is down for the day. That could also have a lot to do with the earnings that came out at the end of june. Did disappoint a little on the earnings side because they have also been investing very heavily in online sales, but look at that shoe. I checked that maybe about an hour ago before i was going to come on set. Its amazing how its just skyrocketed in price and its also amazing how these guys got their hands on the shoe even though nike has called all of them and told all retailers not to sell them. Well see how much it sells for. Liz im watching it right here. You know, i dont know what nike means, they say they pulled it but stockx, this website here, has some. Somebody got a pair or two or three, because they are selling now for 2500 on this website. Reporter the reason is because the stores the shoes actually did hit some of the retailers because they were supposed to go out for this week. So that could be somebody within the stores that got it. Liz look at this. Okay. Stockx shows what it was doing just june 30th here. They were selling for 400, july 1st, 393. It actually went down. Then you go to yesterday, well, yeah, later yesterday, suddenly 514, boom, the controversy starts. It goes from 500 to 1,250. Climbs again. Now its at 2,473 for one of these pairs. Wow. Interesting. These sites are very hot and very hyper at the moment on all of this. Thank you very much. Well, as nike collectors overwhelm the web sites for secondary sneakers, we are looking at what could be an overwhelming situation for netflix, with Stranger Things coming out and debuting its season three, you can only imagine what a big deal that is going to be. Thats july 4th. In Stranger Things theyve got the upside down world. Here is the trailer for that. It is already kind of broken the internet. We have to tell you that netflix stock is up 40 year to date. What about this upside down world . When you talk about what some people are saying out there, youve got mark hulbert of market watch who in a sort of upside down world says we are going to see an earnings recession but thats not a bad thing. He says its not bad because the stock market historically tends to do better when earnings are declining versus advancing, and that means stocks get cheap, people who are bargain hunters swoop in and pick up some bargains. All right. To our Stranger Things on the trading floors around the nation. We love our Stranger Things. To you, phil. Do you expect an earnings recession . I know you are usually very optimistic but you are also very much a realist and technical guy. What do you see and how do you profit from that . In a bizarre world i guess i should be rooting for bad earnings so my stocks will go up, right . Thats what theyre telling us. You know what, listen. What stocks you buy in a recession . You normally buy defensive stocks. If its a real recession you buy walmart, cvs, walgreens, all the defensive stocks. In an earnings recession you buy the best of everything because if you are in an environment with low interest rates, you look at a stock like netflix, right. Netflix is going to perform great because if they get bad earnings, everybodys looking ahead and forgiving them because they have such great shows like, you know, this show Stranger Things. Its going to be huge for the ratings and good for the stock. This is the time. If we do get bad earnings, latch on to the stocks you thought you couldnt afford because every dip will be a good buy. Liz thats right. Every dip, you want to buy low, right, john . Absolutely. Markets are forward looking. I agree with you. What you read is 100 true. Market is always looking at tomorrows earnings, not necessarily todays earnings which might not be up to par. Look at uber. 75 billion company and they certainly didnt get there with earnings. They actually lost 1 billion. Its really about they are doing something better, faster, cheaper which is what america is all about. This is where we reward them on the floor of the new york stock exchange. Liz thats where you get to really see whats going on. Uber is down about half a percent at 44. 55. Very close now to its high since it went public of 47 per share. Chris robinson, do you see an earnings recession and do you agree with mark hulbert that this is not something to fear . At the end of the day, i just watch the markets. The markets are telling you were at record highs. If you are worried about that, there is always a bull and a bear story. There is always somebody with an opinion. If you are worried that we are about to tip over, break 1,000, 2,000 points, nows the time to do something to protect yourself. I really like the tenyear. If the fed continues to cut, you know, the tenyear is probably the place to be. If you want to have safety. Liz yeah. I think so. I want safety in the upside down world. John, phil, chris, thank you so much. Might not be safe. Im not sure. Liz trust me, upside down and that world is not safe. Thats what dustin told me. Well be right back. Dont go away. Dow jones barely down, just six points. Stay with us. We have a record right now for the s p. My insurance rates are probably gonna double. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . Its something we take personally, and believe in passionately. Its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. With teams of cancer experts and specialists, delivering advanced Treatment Options and compassionate support every step of the way. All here in one place, with one purpose. To fight your cancer, together. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Liz we have this right now. Israel says it is preparing for war, not with it and another country, but between the United States and iran. Foreign minister of israel says its Defense Forces are now on heightened alert as rhetoric between the u. S. And iran ramps up. While speaking at an International Security forum, katz said quote, we must be prepared for this and thus, the state of israel continues to devote itself to building up its military might for the event that it will have to respond to escalation scenarios. But its not actually just rhetoric heating up. American f22 raptors which departed june 27th have now reportedly reached the region and are in place. The jets supposedly about 12 of them, although that hasnt been confirmed, were deployed after an unmanned u. S. Drone was shot down by the iraqi military. That act of aggression occurred as the Trump Administration continues to sanction any country that purchases iranian oil, but the buying and purchasing is still happening. New york times report out today says china has found a workaround. New article with the headline to evade sanctions on iran, ships vanish in plain sight. It goes into detail how empty chineseowned tanker ships sort of conveniently have disappeared off the grid as they approach the persian gulf only to reappear days later heading back to china fully supplied with you can imagine, what. To the white house, where we find edward lawrence. President trump is threatening sanctions against countries that buy iranian oil but the chinese appear to have found this back door. What is the administrations plan here . Reporter yeah, and im sure that the Administration Knows exactly where these tankers are going from space, looking at this. Now, the white house is trying to increase pressure all around and they are going to try and get countries to follow along with the stananctions on this. The chinese are actually coming out todayen ablaming the u. S. For increasing pressure and calling on other nations to use restraint when talking about the nuclear deal. The white house says the sanctions are working and this latest action is out of desperation. An International Nuclear agency says that iran has violated the agreement they had with other countries in that iran deal with the amount of enriched uranium they have. Government officials in iran are saying that yes, they will in fact go after or pass more of the terms and break more of that agreement unless those European Countries can give them financial incentives or help iran do Financial Transactions in order to get money into this country. The latest act of defiance from the white house, according to them, that this means the sanctions are working. Hopefully so. Listen, that deal was a joke. The president knew it was bad. Thats why he got out of it. It was based on a lie. The whole premise was that they werent far long as they actually were, the iranians in their Nuclear Capabilities and uranium enrichment. We now know that to be the case that they lied to the world. Reporter u. S. Officials saying they are having these other acts of aggression where they attacked oil tankers in the middle east, shot down the unmanned drone and now passing or denying this deal or just ignoring the deal. On the f22 raptors, quickly, photographers in the area have said they have seen those f22 raptors. No official word that they are there, though. Back to you. Liz okay, thank you very much. We just saw the dow turn positive for a second there. We are watching it closely but a tiny bit of green on the screen. Deltas stock takes flight. With the closing bell ringing in 37 minutes, the nations Third Largest carrier raising its outlook and its latest quarter on stronger demand for summer travel. Delta, upping both its profits and revenue forecasts. Shares have already climbed about 18 this year. Today, a nice move for delta, up 1. 5 . The news, not as good for boeing. As analysts say it now could take even longer for its controversial 737 max jets to return to Service Following those two deadly crashes. Wall street journal aviation reporter andrew tengle has been breaking so many of the boeing stories. This is a widely held stock, a lot of people fly in these planes. 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Just last week, southwest had extended the 737 suspension to october 1st. Different plane here now. 787 dreamliner, not safe from boeing pains like growing pains. Boeing is having major growing pains. Federal prosecutors reportedly issuing subpoenas related to the production of the 787 dreamliner which is a widebody aircraft built in South Carolina. The 737, a single aisle jet made in washington state. But there are areas in South Carolina that do some of the work. Vertical Research Partners cutting its 2021 price target for boeing now from 417, not by that much, to 413, but the stock right now is at 353. They say they expect the 737 grounding to last nine months. Add to this the 14yearlong trade battle between europe and the United States over subsidies that europe gives to its european counterpart, airbus. The boeing counterpart. The longest dispute in the history of the world trade organization. To the wall street journal aviation reporter, who broke the story on the dreamliner subpoenas and has been all over all things boeing. Where do we begin . Well, its not clear what the connection is between the dreamliner inquiry and its relation to the 737 max issue. Our counterparts in the Seattle Times wrote about this and broke the news of the subpoena to the dreamliner. Its apparently related to production. Now, theres no obvious tie, but we reported on the fact the faa had separately begun an administrative inquiry into how boeing oversees its own employees that perform regulatory functions on behalf of the faa, so theres some relation there. Theres still a lot unknown at this point regarding the dreamliner itself. With the max, of course, we are waiting to see what if anything comes out of the criminal probe under way, but boeing right now is really focused on getting the max back in the air and last weeks revelation that there was another unrelated Software Problem that the faa found is another setback for boeing. Liz well, let me just show the other side of it, obviously. We look at the backlog. Folks, for those of you who dont know, when you are talking about Aerospace Companies like boeing, the backlog means what are the orders, are they piling up, are they coming in. Boeing has a significant and this could arguably be positive, a backlog i believe for the max, right . Well, theyve got a pile of orders, thousands of orders, not just for the max but primarily 737 max, for the next six or seven years. And boeing and airbus are really the only two places in the world right now where airliners excuse me, airlines can go to get their jets. So theres a big backlog and theyve had to slow down production because they cant deliver the jets right now. They are piling up in and around their factories in the seattle area while they wait for the faa to give them the okay to fly them to their customers, and they need to also wait for regulators around the world to let the planes fly to the customers and also fly passengers around. Theres just a lot of uncertainty now. The backlog hasnt really grown that much since the ethiopian crash in march because there havent been many new orders except a few weeks ago in paris, boeing got a huge order for the max for 200 jets and a big vote of confidence from British Airways operator. Liz i would think that was a huge thumbs up, which makes me wonder if the stock is 90 off its 52week high, it is still yielding about 2. 2 on the stock. You know, its been down 16 since the Ethiopian Airlines crash and that was march. Im wondering if you look at this and say well, all companies that are good and solid go through very bad times, right . Right. Boeing and the investors im sure are really waiting for this cloud of the max to be lifted. They want the plane to fly again. The airline customers, especially, want the plane to fly again. Once the plane is flying again, that means the airlines are making money off the plane. That means that boeing presumably would be reducing how much it owes the airlines for not being able to fly the plane that they sold them. So it gets the ball moving in a lot of ways for both the airlines and boeing. Liz well, boeing right now, just slightly lower at the moment. Andrew, thank you very much. We will see you next time. Andrew tengel of wall street journal. When we come back, perhaps one of the most important and most interesting links in Facebooks Libra cryptocurrency effort. Anchorage, that Company Coming up. Liz oh, boy. When it rains, it pours on facebook. Some disturbing news out of the wall street journal. Facebook along with google and youtube apparently crawling with bogus and potentially harmful information about alternative cancer treatments and sometimes these sites and videos get millions of views from people desperate for any kind of help in this matter. Facebook and google say they are working to scrub accounts of the false information to reduce the spread of posts that promise miracle cures. This news just comes 24 hours after a package that initially tested positive for toxic sarin was sent to facebooks mail facility in menlo park, california. Remember yesterday we told you it was triggering an evacuation and 14 hours of response from Hazardous Material teams. The social media giant now breathing a major sigh of relief at this hour after it has been concluded the package did not contain any dangerous substances. Facebook, little bit of a relief rally here, up 1 at the moment. Now facebook can go back to focusing on sort of its hottest new release and that is libra. This is facebooks new cryptocurrency project that is generating an immense amount of hype with lots of big name early backers. Our next guest is one of those backers. Hes the cofounder and president of anchorage, hailed as one of the most advanced Digital Asset custodians for institutional investors, here in a fox business exclusive. Thank you so much. I have to tell you, youve got to explain to us exactly what you do and how you weave in to libra, because apparently there are 100 Different Companies involved, correct . There are 28 founding members of the Libra Association. The goal is to have 100 organizations that are going to be involved eventually. For now theres 28 that are part of the founding members such as anchorage. We are one of the founding members of libra. Liz tell us exactly what anchorage does. We kept hearing and seeing your name, your company, out of these dozens and dozens that are involved. We thought whats so great, why are you such a strong link here . Anchorage is a very special company. What anchorage does is we are custodian for Digital Assets. So think of all of these investors that are desperate to invest in all of these new Crypto Assets, cryptocurrencies. They need a company that safekeeps the assets and allows them to actively use them on the exchange and obviously have returns on their investment. So thats what anchorage does. Liz what made you want to become an early backer of facebooks cryptocurrency project . Obviously when you have a big brand behind sort of a brand new type of thing, of course, bitcoin has been around for several years, but to have the brand like facebook behind it and then all of you guys sort of pumping it up, that gave people confidence, didnt it . Thats right. Anchorage has been involved in libra project, even before it was called libra. We have been involved since the beginning and we have helped the Libra Association think through all the technical components. We have really been one of the advisers and we have helped with cryptography, with distributive systems, with the security angles of what it takes to really build the blockchain that is going to be the backing of this new libra global cryptocurrency. Liz diogo, let me play devils advocate because its our job sometimes to push people on these things. What of those people who say that bitcoin and crypto are snake oil . You know, you obviously have to buy bitcoin with your currency, u. S. Dollars, brazilian reals, whatever it may be. I want to buy bitcoin. I cough up whatever its worth, about 10,000 per bitcoin. Where does my 10,000 green dollars go . Thats the concern. People dont quite understand and cant wrap their minds around this. So think of these Crypto Assets as any other assets class. You buy them with u. S. Dollars but then you keep the asset in the asset can gain in value and appreciate or obviously, lose value and depreciate. Anchorage, what we do is not just bitcoin but also new projects and new cryptocurrencies like libra. What we do is we are the custodian. We make sure that these assets are safe for investors to actually make the investments on these assets. Liz okay, but i have to again, finish this up and simply say how . How do you make it safe . So the way that we make it safe is we use very Intense Technologies to actually make sure that the underlying components that actually own these Digital Currencies are completely disconnect frommed fe internet and safe and accessible only to clients who hold them. Liz disconnect from the internet on a lot of levels. Thank you for talking to us about anchorage. Thank you for having us. Liz thank you. Dishing out the demands. With the closing bell ringing in about 17 minutes, look at the dow. Its comfortably higher by about 22 points. Charlie gasparino sprinting to our desk as i speak with new details on just how much antitrust regulators are asking tmobile and sprint to give up to seal the deal on the 26 billion megamerger. Charlie breaks it. And im breaking this. My podcast everyone talks to liz is extremely exciting, okay, and popular. You can get it on all platforms. If you are taking a long ride for the holiday weekend, download it and listen. Apple, google podcast, fox news podcasts. Com. My inlaws just listened to the first one called i forgot to die and loved it. So there. Countdown will be right back. Not again. Limu thats your reflection. Only pay for what you need. Liberty, liberty, liberty, liberty play it cool and escape heartburn fast with new tums chewy bites cooling sensation. Tum tum tum tums with new tums chewy bites cooling sensation. 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. Xfinity mobile is a designed to save you money. Whether you use your phone to get fit or to find the perfect gift, youll use less data with a network that automatically connects to millions of wifi hotspots and the best lte everywhere else. So you save hundreds of dollars a year on your wireless bill. Xfinity mobile has the best network. Best devices. Best value. Simple. Easy. Awesome. Click, call or visit a store today. Liz you didnt have to travel far for this one. Weve got it for you. Breaking news. This is a live picture of a total Solar Eclipse that is happening right now so you can look at it here. Remember, youre not supposed to stare at the sun when its right in front of you but right now, it is stretching across south america. The path of totality where the moon blocks the sun, can i look, too . I want to look for a second. Oh, thats very cool. That is very cool. You cannot see this in the u. S. But the camera is right here in argentina and there you are. Weve got it for you. It spans over parts of both argentina and chile and the Pacific Ocean also. This according to nasa. Outside the path of totality, a partial eclipse will be visible but again, not here in the United States. So there it is. A big moment. Oh, nice. Liz dont look at the sun. Youll burn your retinas. All right. As deal watchers wait for the department of justice to make a decision whether to approve sprint and tmobiles proposed 26 billion merger, some are beginning to question whether its even possible for the department of justice and the parties to reach any kind of compromise that will make everyone happy. Charlie gasparino on exclusive details about whats holding up negotiations now. Im going to tell you, dont follow every single report and make it like this is the deal, its done. Liz i thought you were going to say dont fall asleep. That, too. This is a big deal. Theres a lot riding on this, 5g, you know, fighting with china, wireless, everybodys phone bill is essentially wireless these days. So theres a lot riding on this. I would say dont follow everything you see, particularly on cnbc which is kind of late to the game. There are broad outlines of this deal. Those broad outlines include divestiture of spectrum, sprint and tmobile allowed to merge, that gets sold to Charlie Ergens dish, okay. Those broad outlines have been in place and debated essentially for i would say the last two weeks. But they have been held up. Why are they held up. As the two parties negotiate, final details, there are two concerns that have arisen. Number one, doj. Doj and to a large extent the fcc are worried that Charlie Ergen doesnt fulfill his promise to use the spectrum by building out a Wireless Network or doing some sort of a Wireless Network in conjunction with tmobile, maybe using their infrastructure and capacity, where with his spectrum to build a fourth network. That is one thing that the doj is worried about. Why are they worried about it . Because Charlie Ergen has been sitting on spectrum for a long, long time. He hasnt built it out yet. This is a guy that they believe reneged on the deal or is nearly reneging on his deal to build out a Wireless Network, by buying that spectrum which the Justice Department excuse me, the fcc can buy back. He can give it back to them. Thats a big thing. That deal runs out in 2020. So they are trying to nail him to get him to agree to do something with the spectrum, particularly if he gets some from tmobile sprint which is being negotiated. On the other side of the coin, its very interesting, its tmobile officials are really worried and this is what kind of dragged it on, that if ergen does buy all this spectrum, does he not use it or does he use it, get fattened up liz doesnt the government make him use it . Use it, get fattened up as a network or at least the sort of bare bones of a network, and then sell it to comcast or charter, which they believe would be a much more formidable competitor in that wireless arena. So if those are the two sticking points, now heres what i would also say. I think based on everything im hearing, that theres progress in this deal. I think tmobile feels it can get past that. I think the government feels it can get past it as well. But those are two legitimate sticking points that have held this thing up for the longest time. By the way, dish and tmobile have had this broad outlines of a deal. I know cnbcs report today. This has been out there. Theyve had this. Its been tinkering and the details of it need to be done and its not signed, i heard, by the way. Its still being negotiated. So im telling you, it looks like were at the finish line but those are significant sticking points. I think its going to happen. Im getting indications its going to happen mainly because tmobile really wants to make it happen. So whether charlie some day sells to charter may not be, you know, an insurmountable mountain for them to climb. So thats where we are right now. When is this thing going to happen . It could be days. It could be friday. I dont think so. I think its going to be next week. So thats where we are. I would just say, those are sticking points so be careful if you are buying the stock and playing with this. But it looks like its coming down, its looming. I reported this how many times, though . Liz about 50,000. People are worried about it. I dont know. Liz well be right back. Liz so we just showed you the eclipse making history. Now look at the s p 500. About to make history with about three minutes left before the closing bell rings. That will be another record, second straight all time closing record. Any gain whatsoever. Were up about 5 and a third points right now. Let us get to june auto sales numbers, one of the big winners, Fiat Chrysler. The Company Reported sales up 1. 9 from last year, yes, very nice. But listen to this, ram pickup trucks spiked 56 in sales yearoveryear. That beat for the first time the chevy silverado, coming in second place there. Ford f150s are first. Not bad for the ram there, helping to lead the way for the automaker. But todays countdown closer says Fiat Chrysler is not the name specifically in the auto world he feels to own right now. Lets get to hennessey Fund Portfolio manager, ira rothberg. Which ones do you like, ira . Were big fans of Oreilly Automotive and carmax. Carmax is the largest retailer in the night, 4 market share, 200 Stores Spread across the country. They revolutionized the used car space 25 years ago when they introduced their no haggle pricing model. They are revolutionizing the industry the industry with the omni channel proposition. In dice of 2018 they introduced in atlanta the ability to buy a car officially any way you would like, including from the comfort of your living room sofa. So you can select the vehicle, finance the vehicle, arrange for the tradein. Have the car delivered to your house. We think theyre seeing initial results out of atlanta. By february of 2020, well have this model in half their markets liz im looking, off the annual high 114 bucks, you wouldnt buy at the high of 382. Carmax a little richer. It is 87. The annual high for carmax is 88. What do you look for when deciding to say, Oreilly Automotive is what i like . What characteristicses in a company . Were look fog are a business with a strong economic moat, sustainable competitive advantages to allow strong return on capital and large Growth Prospects wellmanaged. Oreilly has all the characteristics. Liz ira, great to have you. Thank you so much coming to us from the hennessey funds. [. [closing bell rings] as the market closes theyre settling up. Dow gaining 55, nasdaq 15, witnessing another record close for the s p. Melissa aiming for new highs. A choppy session on wall street as major averages drift in and out of record territory. The dow closing up 69 points marking the third day of a winning streak. Im melissa francis. Connell im Connell Mcshane and this is after the bell. The s p 500 at a record high here second day in a row, up nine point on the day. As for the nasdaq, five straight up days for the nasdaq composite up 17. Well call it 18 point today. Oil, the big story. Look at a drop for oil. 4 1 2 on the day to the downside. Melissa i knew they couldnt hold up to the upward move. Not going to happen. Connell