Transcripts For FBC Cavuto Coast To Coast 20240714

Wellpositioned to win the streaming wars. It is all coming up today on coast to coast. Our top story, new reports say saudi arabias oil out put will indeed return to normal levels maybe the next two or three weeks. That is a lot quicker than the months we originally had been hearing. It comes as iran is now responding to the allegations made by the u. S. Blake burman at the white house to pick up the story from there. Whats the latest, blake . Reporter hi, there, connell. On the political side of things the white house is still walking a fine line saying that they believe iran or at least at this point signs are pointing to iran being behind the attack on the saudi oil complex. They are not yet willing to definitely say that they are absolutely certain that is indeed the case. Remember as part of the response from President Trump over the weekend, his initial response was that he said that the u. S. Was quote, locked and loaded. Yesterday on three different occasions when we heard from the president , when he was in the oval office, when he was leaving to get on marine one, when he was at his Campaign Event in new mexico last night the president did not use that phrase, quote, locked and loaded. In the last 35 minutes or so, Vice President mike pence was giving a speech at the Heritage Foundation here in washington, d. C. , and he brought up that phrase once again, while also saying that the evidence still needs to be looked at. Watch. We dont want war with anybody but the United States is prepared. Were locked and loaded and were ready to defend our interests and our allies in the region. As the president said yesterday, it certainly looking like iran was behind these attacks. Our Intelligence Community at this very hour is working diligently to review the evidence. The secretary of state is traveling to saudi arabia today. Reporter next week President Trump heads up to new york for the u. N. General assembly, the big meeting for World Leaders there it is becoming increasingly unlikely the president will meet with his iranian counterpart saying quote, on state media, iranian officials at no level will talk to american officials. He goes on to say this is part of their policy to put pressure on iran. Connell, Energy Secretary rick perry played down the possibility of tapping into the Strategic Petroleum reserve. Perry saying in vienna that the u. S. Is taking a wait and see approach, that he is confident the markets are wellsupplied. Connell . Connell certainly calmed down today. Thank you, make. New report from the wall street journal. They told the journal is increasingly confident that indeed it was iran that launched the attack. Speaking of the journal. Executive editor washington editor for the washington journal jerry seib. Few journalists no iran, better than most, he was detained in the 1980s. How significant is it that saudi arabia is coming around here according to the journals reporting, right . My conversation with american officials they dont have much doubt that iran was behind this attack they can prove it maybe not to the satisfaction of everybody in the world they want to take their time to release intelligence to make their case. Were satisfied that the saudis have seen much of what the u. S. Has. I think it is significant. I dont think the u. S. Is in a rush to try to reach judgment what to do. They will figure out their time, figure out how to release intelligence and build public support that the iranians are responsible and figure out what to do about it. Connell figuring out what to do about it, blake said the Vice President mike pence half hour ago, used the same phrase President Trump used, being locked and loaded. What should we make of that . You should read into that there is broad range of options. I dont think there is a huge rush to get into huge military operation here. Military officials look at everything from more economic pressure. More covert pressure or or some surgical military strikes. I dont think anybody is thinking were off to war with the iranians at this point. There is a feeling there is a need to respond, to retaliate, what that response might look like is really open question at this point. There are a lot of options. Again, i dont think there is a rush here. I get a sense there is a real desire to make sure some allies are along for the ride, that congress is along for the ride as well. That process hasnt really started yet. Connell back up, jerry, mentioned your experience in the region. You wrote a column in the journal, suggested maybe this was done on purpose. There were hardliners possibly within the regime in iran or some other group that you know, wanted to put an end to the diplomatic outreach, all reports out there that President Trump with sit down with rouhani, maybe that was the motivation, i wonder in terms of the response what the motivation was . I do think there are people in the iranian government who dont want outreach to the u. S. , who are frankly happy to see the nuclear deal go away, so they could resume presumption of the Nuclear Activity and the missile program, and having a conversation with the United States at diplomatic level gets in the way of that one of the motivations behind striking now may have been to do that. Another motivation, an equally likely one, the iranians are frustrated. They want relief from economic sanctions. Theyre not getting it. One way to get that into scare the world into thinking they can shut down oil supplies out of the persian gulf so the chinese, japanese, europeans move in to give them economic relief. What theyre doing up to this point hasnt gotten that done. Maybe they need to escalate a little more. Connell saudis putting out reports what will be back on line quicker than people thought. That is the news driving today. You see oil prices. Things calmed down in the market. That might dictate how we respond as well, right . The administration doesnt have to be in a big hurry there. I dont think they will. Connell jerry seib from the journal in washington. We talked about the market moving with all headlines in saudi arabia. What about the current state were in now . Is the u. S. In current position of leadership since we produce so much of our own oil and how does that affect things . Does it maybe less likely gas prices shoot up, regardless what happens in saudi arabia . Gasbuddy. Com, Senior Petroleum analyst patrick dehaan. That is what people are trying to wrap themselves around the last couple days is this time different . Is it different than say it would have been back in the 70s or it was during the first gulf war or some other time in our history because were so much more Energy Independent . What do you say . Well without a doubt we certainly have more tools available to us to limit the scope of such attacks on saudi arabia. The president obviously using one of the levers in the spr to perhaps alleviate some of the reaction in oil markets but certainly, we are far more selfsufficient than we were just five, 10, 15 years ago, producing 12 1 2 Million Barrels of oil per day. There is some irony here. Saudi arabia really the country that holds somewhat of a golden key. Very quickly able to ramp up output, almost overnight in times of crisis. Now theyre the country that has been attacked here. So there is some question Going Forward if saudi arabia is not able to replace barrels lost whats the country that can pick up the gap . Certainly the u. S. Has plenty of oil in the spr but this brings into question now, there have been many who have argued that perhaps it is time to draw down and sell a good portion of the spr but this highlights perhaps the argument that we should keep it around. Connell youve been saying i think gas prices could go up, maybe go up as much as 30 cents a gallon but the idea of these reports today that the saudis will be back online, theyre hinting they would be back on line quicker than we thought, how does that adjust your expectation for the gas price outlook here . Thankfully it will diminish the impact that we see as long as these reports, as long as the saudis stick to now new timelines of the this does happen, i think the scope could be limited to 10 to 20 cents per gallon instead of 15 to 30. If there is any deviation to this that worsens the amount of time, i think markets will snap right back. You will see us back in the higher bracket. For now were seeing first impact show up in gas prices across areas of the country. Some stations up 10, 20, 30 cents a gallon overnight. Those stations will take time to come back down. This is certainly a step in the right direction. Connell patrick dehaan, thanks for coming on from chicago today. As we move on we have News Conference in the next hour we believe from the brand new oil minister in saudi arabia. Were also following from washington new debate over Justice Brett kavanaugh hitting the fight were having or supposed to be having over spending . Where the talks stand. A key senator joins us after the break. Dont miss after the bell 4 00 p. M. Eastern melissa joins us, joins me and all of you as Oil Continues to drop. Well see how much it goes back down after big gains yesterday. Stocks are town a little bit by 43 points. 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That sounds like we should call on chad pergram. He joins us from capitol hill to put it together. This is the case. Youre always balancing a lot if youre in congress. This kavanaugh story come back up. New york times correction. Everything associated with it. Dont want to lose the fact that the government could should down. Well avoid that, right . The temperature has been lowered significantly on the possibility of a government shut down in the past couple days. Looks like House Democrats will advance a interim spending bill, reupping all the spending at current levels, through midnovember. They will probably do that on the house floor. The senate will take it next week. What that means there will not be a government shut down, but basically punts the fight over the border wall and restrictions democrats want to put in the spending bills, mr. President you cant move money around against the constitution, the way democrats see it, without us appropriating it. That is the problem. It is not up to the administration to decide how the money is spent, that is up to the congress. That is in the constitution. That could inflame liberal democrat who want to have the fight right now. They will avoid a Government Shutdown at the end of the week or the end. Month and fight about it in november and december. A few aides thought chances after Government Shutdown this year, maybe a repeat of last year would be a problem. There was one republican who told me last week he thought a Government Shutdown would probably help the president. He was not advocating for a government shut down. But at some point the president might want to go down that road again. Congressional republicans really dont want to go down that road. They see what happened to in the 2018 midterms, connell. Connell i bring up the kavanaugh story that was in the news. You wonder with stuff like that would the environment being more poisoned than originally is. I find it hard to believe that would affect things anymore, back and forth over this story, were so divided or poisoned to begin with. Keep in mind how radioactive that was last fall. Democrats know that energized their base. Republicans know that energized their base. A lot of people on the left who would be happy to go back in, try to relitigate the Brett Kavanaugh situation with new allegations. Republican are defending him. I should note, some democrats, ayanna pressley, freshman democrat from massachusetts a member of the squad who wants to impeach Brett Kavanaugh. There have been only 19 persons in the history of the republic that was impeached. Only one was a Supreme Court justice, samuel chase in 1804. Impeachment starts in the house of representatives and move to the United States senate. Senators especially republicans theyre standing foursquare behind Brett Kavanaugh. They would be happy to take on the fight, they would view impeachment much like impeachment of the president , democrats getting too far over the tips of their skis once again, connell. Connell chad pergram. Capitol hill. North Dakota Republican senator john hoeven is our next guest. He joins us as well from the hill today. Senator, let me focus on the spending debate chad brought up. It looks as he said, if the temperatures cooled a little bit. We avoid a government shut down. Are you comfortable where were going in terms of what is being allocated spendingwise here . Im hopeful we can get an agreement. Right now were working towards it. There are still a few hurdles. You mentioned one. That is making sure that democrats dont insert a provision with regard to border wall funding. There is another one in the ag area, appropriations. Were still working through those. Im optimistic well get an extension until november 21, as chad said. Some of these other issues will have to be resolved to get full year funding in place. Connell you mentioned agriculture. We talked a lot about the farmers in your state. The payment being of the trade war had on them in north dakota. The bailout for the farmers would continue to be part of this, right . How long can we go on with that being a, kind of the policy of the country, that these farmers are hurt by trade and the government bails them out . Well that is one of the provisions im making sure gets squared away, that assistance that farmers are getting right now. That is very important one. We think well get House Democrats to come around. Theyre moving in the right direction. That has to be fixed. Were working to do that. The real solution is getting access to markets. Getting trade agreements in place, getting access to markets. Were starting to see progress. We have agreement on beef with the european union. Japan you saw an agreement in principle. Looks like when president abe is here we could get a signed agreement with japan, that not only helps with us beef, other crops like corn and beef. We need more agreements in place. That is a real solution for our farmers. Connell when can we discontinue the assistance or Bailout Program youre talking about . Exactly. We could get something going on with china. We get to the point we dont need additional assistance. That is what our farmers want. They dont want assistance from the government. They want access to markets. They can outcompete anyone. Were waiting for the house to pass the im umm it has to start in the house. The houses that to get going with the trade agreement with mexico. Connell while were speaking with a senator from north dakota, this is a big business in your state, shale oil. Absolutely. Connell the saudi arabia story with the price of trading in oil way up. Coming back today with reports that saudi oil comes back on the market. One of the things we were talking about, a few minutes ago we were talking about the fact that Americas Energy independence, that is seen as a National Security issue, makes this is tough, makes this an easier story to absorb economically. Talk about that a little from north dakota coats perspective. How much truth is that . I served as governor the north dakota when we started. We have 1. 5 Million Barrels from our state alone. North dakota. Texas is the only state that produces more. The point with the growth in oil and natural gas, were Energy Independent. That made a world of difference as we apply strong sanctions to iran. We supply ourself with energy. We hope to keep sanctions in place on iran. Europe will join us. We have to stop irans state support for terrorism. The kind of attacks you see them making in the middle east. Even though they claim theyre not responsible. We obviously know they are. We need to unite with our allies, put a stop to it. Connell as a final point, could you see yourself supporting military action against iran . First thing you we need to keep the sanctions on, work with our allies and assist saudi arabia. Connell all right, senator. Well see, beyond that again all options are on the table but a thoughtful, prudent response. Connell senator, thank you. Senator john hoeven joins us from capitol hill from the state of north dakota. General motors and the strike, the gm discussions with the auto workers said to be still pretty much at a standstill from what weve been hearing. How much gm as a Company Stands to lose if this strike continues. Thats next. Automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Of the value youll find at fidelity. It also has the highest growth in manufacturing jobs in the us. Its a competition for the talent. Employees need more than just a paycheck. You definitely want to take advantage of all the benefits you can get. 2 3 of employees said that the workplace is an important source for personal savings and protection solutions. The workplace should be a source of financial security. Keeping your people happy is what keeps your people. Thats Financial Wellness. Put your employees on a path to Financial Wellness with prudential. Not target you. Connell bubble gum, mango, cotton candy, fruity, mint, on and on. I understand a good number of adults might help them get off cigarettes. To say a good number of adults found them helpful vastly underestimate number of adult smokers who have switched. We have 3 million plus adult smokers switched to vaping products. Connell good interview with president of the American Vaping Association greg conley who appeared with neil on coast to coast. That vaping benefited smokers that is the case he is making. We have word from the cdc the death toll from vaping causes is up, now reached seven. This is a story we follow the network, that came in from the cdc. No resolution between auto workers and General Motors. We hear gm losses will continue. Grady trimble i understand things turned political. You had a special visitor in the picket line . Reporter thats correct. Rashida tlaib is greeting picketers, speaking with them, handing out food. The congresswoman showing their support for this side of the negotiations. As far as substance of these talks, we dont know a whole lot, theyre going on behind closed doors. We know from a source close to the negotiations, they started out tense yesterday, then got cooperative as the conversation kind of reset and they got focused on the issues. You talk about what gm stands to lose. They cant afford for this to go on indefinitely. They could lose according to analysts 100 million every single day as long as the strike goes on. The stock already taking a hit. It is down a buck since this strike started. It is up a little bit today. Still not looking good since last week. As for the picketers. They also have a lot to lose. Theyre on strike pay which means the union is paying them 250 bucks a week but a lot of them say that is not enough if this goes on for a long time. But it is something they say theyre willing to sacrifice in the short term if they get something out of these negotiations. Listen. How long can you keep this up . Well keep it up as long as you have to . Reporter really . How long though . There has to be a breaking point where i am sure there will be a breaking point for some. Some people will struggle. This is what we believe in from our guts. Were willing to fight. We get 250 a week for our strike funds. Can we raise a family, support our family on that . No. Were not going to give just because it is only 250. Were willing to fight all the way to the end. Reporter as weve been reporting health care a big issue here. The average u. S. Worker, according to some Research Groups pays almost 30 of their health care. The rest of the company pays for. United workers pay only 3 of their health care. That is a big Sticking Point as these conversations go on. Better pay, another thing workers are pushing for. Some job security. Plants like this one behind me are set to close in january of 2020. As far as how long this strike is going to last, connell. It is anyones guess at this point. Connell Grady Trimble on top of things out in detroit. Head of toyotas north American Manufacturing business will be our guest in the next hour. Announcement coming from toyota. Also reaction to the gm strike. Coming up as we continue here exclusively well hear from apples chief operating officer on fox speaking about the tech giants big bet on america. Thats next. You wouldnt accept an incomplete job from anyone else. Why accept it from your allergy pills . Flonase sensimist. Nothing stronger. Nothing gentler. Nothing lasts longer. Flonase sensimist. 24 hour nondrowsy allergy relief thats where i feel normal. Having an annuity tells me my retirement is protected. Learn more at retire your risk dot org. Have you lost weight . Of course i have ever since i started renting from national. Because national lets me lose the wait at the counter. And choose any car in the aisle. And i dont wait when i return, thanks to drop go. At national, i can lose the wait. And keep it off. Looking good, patrick. I know. vo go national. Go like a pro. Connell made in america. Apple investing 250 million in corning, thats the company that makes glass for the apple iphone and ipad and watch. Bret larsen is out at the kentucky plant. Big interview for us, speaking exclusively with apples coo bret, take it away. Reporter connell, good morning, good afternoon, whichever it is. Were inside of the plant here in kentucky. This is the corning facility since 2007 glass just like this has been rolling off the Assembly Line made right here in america. We talked to apples coo Jeff Williams about their further investment, 250 million more being invested in this corning plant today. Take a listen what he had to say. We couldnt be more excited to be here. We are investing an additional 250 million from our advanced Manufacturing Fund in corning and two years ago in harrodsburg we launched the advanced Manufacturing Fund with a 200 milliondollar investment. Today were more than doubling down, a quarter of a billion dollars. This is, this is going to further development of Glass Technologies for the future. Reporter now we tried to find out what the future products were going to be but as is normally the case apple is very tightlipped what is coming next. But what is coming right now, this is literally rolling off the Assembly Line. You see a robotic arm picking pieces of gorilla glass up, where it is put on pallets to be shipped off to finish. That is what they have been making here in harrodsburg, kentucky this, is a bit of our cooking presentation for the facility tour. This is how it works. It starts out, this is the recipe of the glass that has been perfected the last decade or so this is a piece of the glass similar to what is coming off the production line right now. It gets sent, a little bit of magic happens. It turns into both the front and the back of the new iphone. This is the new iphone 11 pro, hitting store shelves, in hands of consumers on friday. This has been the case since this plant started rolling out gorilla glass in 2007. Over six billion Smart Devices around the world, were talking apple iphones, ipads, watches, get their glass from the facility here in the middle of bluegrass country in kentucky. They got 250 million more from apples advanced technology fund. Connell thank you, bret larsen. Apple with a big investment in the u. S. , comes at a time you always hear china is the future, right, for apple . Susan li here in the studio. Susan was at the big apple event out west. Was it last week i guess . Susan yeah. Connell it is interesting to me. Good interview by bret, by the way, apple making a point, come on fox, talk about investing in america. Susan that is what they said to us as well when we had that conversation with them last week in cupertino, california. They said, i asked them, what does it mean for apple to be caught up in the u. S. China trade war. The first answer, first thing they said we are an american company. In fact we have a lot of our components made in america. Of course the glass was part of that as well, which is opening a new plant in kentucky. They said we are a big employer in the u. S. Dont forget that. 90,000 here in the u. S. Connell i was going to say how much of that is pr, just in your estimation reading into it, versus, the truth . It is obviously true what theyre saying they employ a lot of people here but it is also true that apple relies on other countries especially china . Right. Basically foxconn puts together the apple phone. That is what theyre saying to us but the actual components, given its a very complex supply chain as you can imagine with a lot of parts coming from here and there they basically said yes, foxconn puts the phone together but a lot of parts are made elsewhere. A lot is here in the u. S. This comes at a very difficult time with apple, theyre trying to right size what is happening with apple. A showdown taking place in the economy there. They have had to cut prices which they havent done ever until recently when they saw some numbers at that came in this year. They warned us in january iphone sales will not be as great as they thought it would be to head into 2019. Connell which makes sense. I was thinking about apples challenges in china. We heard a lot of stories coming out. When i was there in june i didnt see it, a Nationalistic Movement kind of on the rise where people would be pushed to buy huawei phones or some other Chinese Company instead of apple. Talking to people anecdotally, more of issue with people in china is price. Susan absolutely price. An economy still growing or emerging at least according to the oecd you have to justify the fact that people need a four figure sum for a phone. It is seen as luxury item in china. It is ostentatious, you have a gucci bag or apple phone. Executives have not seen that much of a pull or drag on their sales. In fact it is about the economy slowing. I guess huawei might be a great benefactor of that. But it is huawei, opo, some names you havent heard before that make cheap every phones that are actually taking market share away from apple. It is not really nationalism. It is getting the right price for the right market. Connell which we saw. That is one of the takeaways. I didnt talk to you since you came back, one of the big takeaways from the event price matters . Absolutely. Look at the base phone it is 400 cheaper. Last year was not great refresh cycle for apple. Iphone sales going into effect on friday. Tim cook will be back here with the fifth avenue reopening of that store. Connell right. They understand in developing markets like india, like china, you need a cheaper phone for the base price at least to get people into the market. Connell susan, good to see you. Thank you very much. Susan thank you. Connell all over the apple story. As we continue another big story today is wework, you know the company . The delay in the ipo comes as the valuation has been plummeting. Is this a sign of things to come . Well have that after the break. So. Lets talk. Were built for hearing whats important to you, one to one. Edward jones. 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So get allstate and be better protected from mayhem, like meow. Connell the initial Public Offering of wework delayed as the valuation of that company has plummeted. Interesting story for those following. Weve been following it wework, gerri willis following it at the floor of the new york stock exchange. Were wondering if this is sign after bigger issue, gerri . It could be, connell. It is more like we wait. Slated for originally september 23rd. Company saying this about the ipo timing, quote, we are looking to our upcoming ipo which we expect to be completed by the end of the year. The deal was originally valued at 47 billion. Last year the valuation range cut to 15, 20 billion according to wall street journal others reported that the range is 10 to 20 billion. Whats right . As a sign how fluid the deal of those terms are right now, the source close it, telling fox business theyre actually may be no valuation for the company right now as the road show was just pulled and bankers may still be trying to determine what pricing would attract investor interest. Now i can tell you softbank, jpmorgan, we work it seven did not respond to our request for comment. The Company Loses nearly as much as it brings in revenue. In 2018 the Company Sales totaled 1. 82 billion. That is more than double the previous year. Losses were 1. 61 billion. Wedbush analyst dan ives says this, he says, this is a sign that investors have thrown in the towel, the white towel on ipos do not meet valuation, Business Model and Corporate Governance standards with wework the posterchild for the situation. There is heightened sensitivity after the negative returns of the ipos we saw with uber and lyft. Finally as you may know, connell, wework bonds are down sharply from monday levels. The problems in the equity market translates to trouble in the debt market. The yield on wework jumping to 8. 6 from 7. 7 on weakened demand. A lot of questions about this company. They have not pulled the ipo right . That is important to know. If youre wondering whether the ipo completely goes away, they have not pulled it. They are still trying to find that perfect pricing. Connell that is interesting. The dan ives comment for other Companies May be watching this, idea of throwing in the white towel for these types of numbers. Thank you, gerri willis. Thank you. Connell on wework. Lets move to amazon. Amazon is holding a nationwide jobs fair today. It is aiming to hire some 30,000 workers. Fox news correspondent Mark Meredith live for us in arlington, virginia, with the details. Mark . Reporter good afternoon, connell. People have been lining up all day long for a chance to meet facetoface with amazon employees. This is just part of the line. This is impressive how long people have been waiting to get inside of these doors. As you mentioned, connell, amazon is looking to hire 30,000 employees nationwide, not just here where we are in virginia. The company is holding these job fairs in several cities across the country including places like boston, nashville, as well as amazons main headquarters out in seattle, as the Company Really is expanding nationwide. Once people are through the doors, they have a chance to meet with different amazon employees for a chance to learn about parts of company, like cloud computing, fulfillment centers, kindle. Amazon has grown so much, they realize their Workforce Needs to grow along with the company. We had a chance to speak with an amazon Vice President earlier today about this, about what kind of employees theyre looking for as they grow. We are a company of builders. We experiment and so the opportunity to innovate and create, it is something we look for in people. Reporter now what is interesting all these people that you see, a live look that are waiting, none of these people will be leaving with a job today. It is not like that. He instead amazon is saying this is a chance for them to learn more about the company, to go home apply for positions as amazon will then consider the opportunities that are out there for these people. This is a chance to get those questions answered, making a first impression. Amazon says these are not one particular type of job theyre looking for. These are jobs for some people will be at 15 an hour for starting out but some will be corporate positions as the company expands. I should show you. Well take another look. They have security out here because this line foes all the way around the block. Might as well show you this quick. It is really unbelievable. You feel like theyre giving stuff away. Middle of the lunch day here on a workday, tuesday, people cannot wait to find out what they have as they expand. Connell says a lot about amazon and the country. Mark meredith in arlington, virginia for us. President trump is out to court donors in california of all places. As the democrats are courting unions here on the east coast the well talk about that on the next hour of cavuto coast to coast. Well be right back. R rental, and getting her car towed. All i had to take care of was making sure that my daughter was ok. If i met another veteran, and they were with another insurance company, i would tell them, you need to join usaa because they have better rates, and better service. Were the gomez family. Were the rivera family. Were the kirby family, and we are usaa members for life. Get your Auto Insurance quote today. Im working to make connections of a different kind. Adp helps canyon ranch place the right people in the right jobs, so employees like dave can achieve what theyre working for. Connell so activist investor elliot management is putting pressure on at t to make changes. President trump even chiming in on this story that Charlie Gasparino has been covering. Charlie joins us in the studio. This is a hedge fund, elliot management . What do they want from at t . They think at t is an underperforming asset. The president thinks its a bias asset because of the cnn subsidiary. Connell right. He has been tweeting about how there should be boycotts of at t now for a while. Behind the scenes it is very interesting. There are trump advisors, people he talks to, i dont know if youve if theyre on the payroll, but there are people he talks to have been talking about how to get at at t. What is thest way to arrange a boycott and the name they keep saying go after directv. That should be where the trump forces should press the button on boycott. Connell so getting people to drop directv. Why is that . It corresponds with some of the stuff elliot management is saying. Elliot management wants at t to sell directv. How it is underperforming asset. How it is bleeding subscribers. Ran dal stephenson was at a conference, we dont know, if they will do it. Some of the i dont believes ideas are good. Some arent. He didnt make a direct case or buying or selling or keeping directv but one way to pressure them is to have a boycott and they are very vulnerable. They are bleeding subscribers. Connell one thing about directv, there are a couple Different Services they provide. One is satellite service, but one is a streaming Service Called directv now. Right. Connell i saw a lawsuit out there theyre actually accusing, correct me if im wrong, directv now is playing around with the numbers a little bit . Im sure. Listen, its a lawsuit. I say this, if you look at the main business, directv and subscribers it is getting crushed. Connell right. It is literally getting crushed. If there was an arranged boycott of direct tv by the president or his surrogates, this would mostly come by the surrogates connell it could hurt at t . It could have a major impact. If you look at it, elliot management lays out the numbers and statistics connell journal said they had 26 million subscribers on directv, by the end of the year, prediction could be down to 22. It is bleeding. Its a problem asset. We should point out that we put a call into the white house. They had no comment. I put a call into at t but this is something being spoken about with trump surrogates how to press the button on them. So you know, keep an eye on this. Connell not in coordination by the way with elliot management . No. But here is what i would say, keep an eye on this. Its a political story, i get it. It is a media story. Cnn will say, this guy hates our coverage so theyre coming after our Parent Company but it is also a stock market story either which way. If they start bleeding subscribers because of a bigtime boycott, the stock will suffer. The stock is down by the way. Connell get a word or two on china at top of the hour. Saudi arabia, we havent talked as much about china trade. There is a story out there, robert lighthizer, the u. S. Trade representative, went out to tell a group of Business Executives chamber of commerce. Its a big meeting they had. Connell contrary to reports weve seen there is a lot of work to do on the china trade deal. What i said last week, reported here on cavuto and on clamans show, was simply this. I was at a dinner meeting. A top chinese diplomat was at the meeting. I cant disclose his name. Connell right. I was there with 30 other people. These are verifiable facts. He is not directly involved in the trade talks but someone high enough in the chinese leadership he knows exactly what the talking points are and whats the position. What i, i asked him about trade. Well you know, why dont you just cut a deal . It is hurting both our economies, particularly yours right now . And what he basically said this, they will not give in that much. Doesnt mean they wont cut a deal. Doesnt mean they dont want a deal. He basically through cold water that they will cave. At that is some of the word you get out of the white house. He also said we will not cave in the face of pressure. We remember the history of colonialism, and pope yum wars. He brought up the opium wars by the way. The french and british took vibrant export economy from the chinese, i didnt know this, i read up on it, turned it into back water, that notion of colonial powers dictating china and hurting economy will not happen. Connell that america is essentially keeping down the rise of china. Lighthizer doesnt mean he doesnt have point, the president has a point, i think there will be a deal. If youre telling me there will be a deal that they will cave in a major way. That is not what this guy told me. That isnt what lighthizer is saying. Connell doesnt seem like it. An interim deal on agriculture or some smaller deal. Thank you, Charlie Gasparino. Okay. Connell on two big stories. Oil was up as we know so much yesterday, down today though. The report is that saudi arabias oil out put could come on line a little bit sooner than we expected, could come back online. Well hear about saudi arabias side of this from its all minister, brand new oil minister in the next hour. Well be right back. Their medicare options. Ere people go to learn about before theyre on medicare. Come on in. Youre turning 65 soon . Yep. And youre retiring at 67 . Thats the plan well, youve come to the right place. Its also a great time to learn about an aarp Medicare Supplement insurance plan, insured by Unitedhealthcare Insurance Company. Heres why. Medicare part b doesnt pay for everything. Only about 80 of your medical costs. This part is up to you. Yeah, everyones a little surprised to learn that one. A Medicare Supplement plan helps pay for some of what medicare doesnt. That could help cut down on those outofyourpocket medical costs. Call Unitedhealthcare Insurance Company today. 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Saudi arabias output could be back online and back to normal sooner than originally thought by investors. We are down 4 . About to hear from saudi arabia is the new energy in the country. Look at the updates over there as soon as we get them here. President trump is on his way to the bay area in california. Aiming to raise Major Campaign cash. We are told as much as 15 billion while out west. The president is there with the democrats unions. Democratic candidates attending the first ever afl new yorkers president ial summit being held today in philadelphia. Really looking for . John fox and the former jp morgan, our panel for the hour. So many other topics, never a dull moment. I saw trump heading out to california and every article says Enemy Territory but thats a lot of money. Thats true. We tend to think of Silicon Valley as being strongly anti trump. Plenty of wealthy people from the area more than willing to hand over substantial sums of money for the upcoming campaign. Even more so on this time, because this is thought to be an anti trump area. You a lot of money, a lot to go around. I give them credit because its going into the lions den. If you exclude thats funny. Thats the first one i thought of. Going to have a balloon. Hes going to have to navigate some outward signs of aggression or hostility but thats 1000 a couple is the price, our sources told us this is an extra secret location, extra seek it itinerary but Silicon Valley has become more and more influential in all things. Politics included. Have any big donor for the audience that cares about investing, they look at it, they try the handicapping, the polls show head to head and democrat beat trump by backing away from that, would you say trump right now is a favorite for reelection . I think a lot will depend on what happens in the trade tensions into the overall economy. There are all factors but right now, its not looking good but i find it fascinating they are keeping the location secret as sanders says but this is america. I think whether you are trump supporter or not, people should be free to pick the candidate. I see no reason why. Yes, without being attacked. Its your right. I was in california with trump, one of the few times he was in the northern part of the state, things do get ugly. There were protesters. This is well before the election, the Body Convention at the time. In terms the of the election, with their money, investors. I think the economy is going to continue to grow, they got good news today. It makes wellfleet that lower mortgage yields are giving a lift to housing activity. Ultimately, it comes down to trump himself as to whether he wins or gets reelected. If he doesnt selfdestruct, i think hes in for a second term. The current lineup of democratic president ial candidates with talk about that. The membrane time and energy in that line seems to be around Elizabeth Warren lately. She was written off a few months ago, she was in new york last night and held a rally that drew a big crowd. Lets listen to a bit of that and then we will talk about a potential opponent for the president. Our democracy is parallel because giant corporations bought off our government. Donald trump is corruption in the flesh. [cheering] he deserts the people of the u. S. , only serves themselves. All kinds of articles, wall street is essentially freaking out about the prospect of an Elizabeth Warren presidency. I think right now for her to win, she has to move closer toward the center. I think the rhetoric im heari hearing, it is somewhat unelectable. Moving to the center, could you even pull that off given what shes put out there . She doesnt have to move exactly to the center but toward the center. The anticorruption plans shes pushing forward as part of that because if you go back in history, you will find john mccain, President Trump talking about and obama talking about, eliminating the distinction between lobbyists what you think of that message, antiestablishment about the socalled crossover and trump, couldnt be more different in terms of ideology. This idea that people who dont like the system are retracted to either side. Theres crossover, a lot of white trump one. A lot of people saying we are sick of the current system, it does nothing, we will take a chance on the new guy. When i would say is that what Elizabeth Warren had Bernie Sanders has with her trying to come up with is a dialogue around medical care. The number one issue. We know that even from our research here, no matter what they are, this is what people seem to be voting on. She has come out swinging. Love it or hate it, she does have a plan. What they have in common, free healthcare for all, getting rid of private insurers. You know where she stands and has a clear message. She has a message but its still extreme. I cant help but go back to 19 1972, 47 years ago when we had a contest between nixon running for reelection, not a well liked president. He was against george on the left. What happened . Nixon won by a landslide. You think about the dilemma, you nominate a candidate by joe biden, or do you cope with someone who has the enthusiasm of the base behind them, maybe too far to the left . In 1972, they were very enthusiastic. The problem in the democrat west and 72, nobody else shared that enthusiasm. They were very much against it. The market today shifted a little bit. There holding a News Conference in saudi arabia today. The halfbrother of the crown prince just came in before these attacks. So we are down today, we were way up yesterday. What is the reaction in the Financial Markets the last couple of days with this . I think its clear, the way the markets react, they reflect the reaction. We know how to start pricing for. Everybody knows when you are prepared against major missiles and have defense but all of a sudden, this new form of attack are much more vulnerable. Look at how much oil they are producing, its a new piece of information. We talked to military experts about that, whatever happened in the market, this is possible. The drones kept below the radar, this could happen again if they were ready for it. I dont know how that affects prices why do they say this can be ignored . A one off, so your question is what if this happens again . What if this is some groups strategy . Government has not exactly named but the point is, we are setting ourselves up for destruction. The response, well see what the responses. How does it affect market . We are, for now lets not forget, we have a Strategic Petroleum reserve we could tap into. It brings attention to technological change, especially the form of fracking has brought upon drastic changes in the oil industry. Its an impact on the political balance, it makes us more secure. Most definitely. You want to stick with fracking and drawing oil out of the ground domestically in order to reduce risks that the World Economy if this is a one and done, the market has still supply, its not an issue. On strike we are getting, breaking news on that. Will be back in a moment. Weve been covering the strike for General Motors in the breaking news comes from the white house. It involves the talks. What are you hearing . There was a report author that just popped this afternoon for the white house is getting involved in a conversation between General Motors and ua w. I can tell you is that the white house is forcefully pushing back on this idea that there was involvement as it relates to larry kudlow. And peter, one of the members of his trade team getting involved in the discussions are ongoing between gm and the uaw. Here was a comet passed along by the white house. This story is false, the Trump Administration are not involved in the negotiations between uaw and gm. We would like to see a fair and speedy conclusion to these talks. The general water source telling foxbusiness the following thing the white house has no involvement in negotiations. In the last hour, the white house is getting involved. Pretty forceful push back here and at gm. The stories about the white house and just to draw a line, not only the white house for the political stories that peter and larry kudlow were involved. That would take it to a different level and the white house saying its not happening. Thank you. Back to the story here in the attack on oil. No soldiers involved. Sparking new fears as a soldier left work. Thats just ahead. The u. S. Is prepared. Locked and loaded. We are ready to defend our interests and allies in the region. As the president said yesterday, its looking like iran was behind these attacks. Our Intelligence Community at this hour is working diligently to review evidence if they are traveling to saudi arabia today. Mike pence in a speech earlier today talking about the u. S. Response to the threat from iran. Officials on the ground collecting evidence. The attack raising concerns about the future of drone attacks. David hunt joins us. Our panelist still here. Good to see her. I will try to do this in order. I will start with his comments and then we will get into how it couldve happens. The president said locked and loaded. That yes, this was iran. What is next . There almost crossing iran economically but they are still getting supplies. Irans four times bigger than iraq. I dont want to see another one. We just lost another soldier last week but that we have the ability more on iran. They still have a british ship. They captured hours, theyve blown up shi in the last three months. The military action has to have a backdrop, 18 years now in a war on terror, its not going well. To add iran to that is a bridge too far. Whats the best option available outside of a military strike . If you want to stop any country, cell phones and computers, we have the technology to do that. You can stop there without blowing it up. Theres a lot of things they can do. Whatever we do in this case, iran, they get vote and get to react. We should not sit still for this. We respond to iran, i think the first thing to do the sanctions even more. It is hurting them. Youve mentioned this, this idea of how in the world does Something Like this happen . Could happen again . We know there are countries around the world that have systems to protect themselves against drones. The israelis have great capability and russians. My suspicion is that the arms release are not going to Share Technology but what about the soviet union . Drunk defenses big problem for radar. If these really work cruise missiles, thats an issue but they talk to satellites. The drone has a size and speed problem for radar. My concern is they can add this to the oil field, they can do that. Anyplace they wanted. Weve been in drone war for 17 years. Weve use them effectively in iraq and afghanistan. Its not new and it doesnt take soldiers off the battlefield. It enhances and helps them. We are going to go back to the gm story, the white house shooting down reports that its getting involved. Toyota is getting involved in terms of investing here in the u. S. We have a toyota executive coming in just a moment. Well be right back. We talked about gm production taking a major hit while negotiations with the union drags on. Toyota announcing a 400 Million Investment in a plant. San antonio, texas. North American Manufacturing, christopher is our guest now. We talk about american compani companies, a Company Based overseas investing a lot in this country. You make all the cars yourself here in the u. S. . Weve been here since 1957. Investing over 27 billion in this country, our standard investment here was the next step in the long line. We do make about 70 of what we felt here. Americanmade car in the countrys camry. Weve got a lot of tundras made all across the u. S. Does not match the 70 in the trade tensions . No, the car business is one planning cycles are decades in the making. We always intended to sell, that was before this recent round and it will continue afterwards. In this particular investment, what attractive about that particular area and state . Whats the reason for san antonio being attracted to you . We opened up a plant in 2003 and what made us open up here and expand are the same things. One, a Great Community of great workers committed to quality and working with us in a cooperative way. Second, a warm welcome by the texas communities. They made a favorable environment for businesses and for this, doubling down here. Competitive environments, does that play into what gm is doing now . How do you read the situations there versus what you are doing in the u. S. . I cant, really on the relations situation between gm but what we have always looked for is a workforce that we can empower. They are on the Assembly Line, cap the power to stop the increased product. They work with us and come up with their own innovations. That kind of relationship with our workers is the key to toyotas success. On the policies front, whats the most important issue you are watching now . Whats the biggest thing for toyota that you want to see . Two things, if i could put them neck and neck. One is the u. S. Mca. Its Important Congress and the administration follows through on what we hope is a great commitment. So there can be certainty in investment and second, we want to see one National Program as it relates to Greenhouse Gas and emissions. We think is a strong risk want to avoid having a split market with two different regimes. Nobody wants that. We are hopeful in the next couple of months the state of california and u. S. Government can get together and provide not just automakers but consumers. Thank you, big investment. Before we break out on the panel, you brought this up, we have a chance to talk about briefly, we talked about General Motors, the timing of the stri strike. The sales have peaked some time ago in the u. S. Declining trend, the Auto Companies are not doing all that well so the timing of the strike against gm is puzzling. Im going back to the last time there was a strike, that was 2007. I was just prior to the start of the great recession. Auto sales much earlier in 2006, 2005. So i dont know who the uaw is listening to. There 35 billion worth of profits that they have registered in the last eight years. Its the use of temporary workers in the union. I want to talk about apple. When we checked in with larson, exclusive to fox, during the panel on how apple plans to win. Streaming war, that is up next. Should government be involved . The tv service , we are going to deliver content thats really interesting and thoughtful. Weve got some great shows lined up. On your question of the competition, we think theres plenty of opportunity for everybody in this space. A lot of content to be consumed. We are focused on making wonderful content. We will deliver, basically the cost of renting one movie. They are suggesting exclusive interview with us but it takes steep competition. Netflix in the headlines making sign field, they require the office which we already do. Williams joins us again. Out in kentucky. Good to see her. Our panel is here as well. Lets talk about this topic. The content is the same weve had so many times. There are a lot of people who want to go back and watch the series from get tough. Happens for netflix with friends netflix picking up seinfeld. It does lineup competition for disney and apple. Both come online in november. April 2020. As a lot of amazon prime, its on the list. Advocates on and they sell on that side. What did you talk about, you have the content . The 49 dollars price is the t of renting a dollar renting a movie in a month. It seems like the golden age of the streaming wars. Not everybody has a streaming service. For me, i think the consumer really wins here because matter what it is you want to watch, is going to be platform available. We know apple will have exclusive content the judgment who played aquaman, i cant pronounce his name. Jasons mama. Right. But when you talk about, my colleague who has been on the show, he loves seinfeld. Theres definitely a draw. This is definitely a fantastic time to be a content creator if youve got good compelling content that people are going to want to sit down and watch, they will pay a monthly fee for it. What we are up against his people trying to get their cable bills down. People complained about their 150 a month cable and wanting that price down. With so many possible platforms and monthly prices, they will have to say folks, i cant do all of this. I will subscribe to hbo when theyve got a new show and then suspend my membership. Go to netflix and then amazon prime is an annual thing, so its kind of rolled into that. Im thinking about this myself, when you you get cable tv or a streaming service like youtube, tv or sling and then people are figuring out our thinking about what else do they want . Flicks only . Netflix and disney which companies are best served by this dynamic . Ultimately, we have so many suppliers now, this is going to wait down on their profit margins. Maybe losses for certain suppliers if you take the content in the hope is that survivors believe this will drive out the companies that cant tolerate that. The pressure is on. Vaccination, a Subscription Service of the news. Clearly, the Companies Want to put out content, they feel like they have to. Will it be worth the investment . If they dont put up content, they wont have business. Theres so much content to choose from, they can jump from one service to another. I feel like the companies will win for a while until people realize their cable bill and netflix and amazon prime probably one or two more, they will say im spending 230 a month. You could still have a bunch of these other services and still save money compared to regular cable. Get i think, for all of these streaming services, you still have to have internet which will still cost you a monthly fee. Either your cable company, at t if youre a wireless subscriber, you can do directv now. Im curious to see if we will seek partnerships between the streaming platforms and wireless providers where they say sign up for our Wireless Network and use our data network and you can stream all the content you want. Maybe a discounted hulu or apple tv. There are opera opportunities as well. They will tell you if you have more supply and demand, the price goes down. We have clearly more content than any consumers. Over time, there will be downward prices. We have not confirmed netflix paid 500 million. Thats what most are saying is probably what they have paid. Theres been speculation how much apple is willing to put in on the content. They havent spoken about specifics about how much money they are spending so well leave it at that. Great interview. By the way, thats the plant where they make the glass. Hes not just randomly wearing safety goggles. Kind of weird. We continue with the panel, we will talk about israel. They are getting set for the election there. The Prime Minister facing corruption charges. The polls are set to close 3 00 p. M. Eastern time. That will be something to watch. Its supposedly close throughout the day. Breaking news, now suing Edward Snowden over the publication of his new memoir. The argument is that he broke cia disclosure agreements. Lawsuit from the Justice Department against edward. You heard it here on foxbusiness first. Home to both of the nfl teams in los angeles. They reported that with likely to happen. Good to see you, robert. Still under construction but its already hit some serious pay dirt. The deal has not been released. Sources tell me the pact is the most expensive in nfl history. Executive at both the nfl and twitter. He thinks the partnership can help the Young Company become a household name. Leverage not just the capital of the world but the iconic destination thats being built on the association with the iconic brands in National Football league. Rams and charges and other events that will capture National Attention that will unfold in the next few decades. There hosting the super bowl, College Football championship and summer olympics in the next decade. A Digital First National Finance company, less than a decade old but valued at 5 billion. Officials say the focus on Technology Make the partnership a good fit. It was important to find a partner for its members. We share that vision and we think its a great partner. The stadium is on pace to open by preseason next august. The stadium is the centerpiece of a grantor complex, 300 acres of retail, real estate, performance venue and future home to nfl media and newsroom. 5 billion so far and still wants to go. Startups sponsoring stadiums, remember how that worked out. He pointed to the profitable lending business. They raised 2. 4 billion in the last seven years. They didnt want to be paid with that. No, he wouldnt want that. I could meet you for a game, if you want to. Sometimes it doesnt always work out. Thank you. Overseas, johnsons battle heading to the Supreme Court of the uk. Could this be his last stand . Well talk about that when we come back. Breaking news, the price of oil is now becoming down in the world market from yesterdays, now down by 6 . The new energy of saudi arabia has been making comments. Among the comments is the headline that crossed the he said the oil supply is fully back online. They are trying to work through the translation in office to see if the timetable means literally right now or expected to be but that has driven the price down. The other comments from the energy, the halfbrother of the crown prince, saudi arabia will keep this oil supply to its customers this month and in the past two days, he says the kingdom resumed more than half its oil output. Since the attack until now. We wrap up the hour with our panel. As you are saying, that was quick. But the price has come back from yesterday. I think of its back online as the headlines have led us to believe the headline now is saudi minister says this marks more sense. Fully back online by the end of september. The point is, people have been talking about it continuing that seems more realistic. Yes but good news. Where the economy needs all the help they can get. Improves the outlook, 30 cents of securities. Yesterday i was struck by one thing, a lot of work in the Corporate Bond market. They came down despite the equities in response to the destruction of the supply of oil from saudi arabia. So that was telling. Another example for Financial Markets are over reacting to those developments. You have a biggest percentage gain and more than a decade. There think the last couple of days, they got halfback and by the end of the month, the whole thing is back. One think we should not lose sight of, energy costs and production has come down dramatically. Almost 50 in the last couple of decades. This disruption is not positive. Its not as hurtful as it would have occurred 30 40 is it going to affect our response . The three latest recessions, the price of oil rose by at least 55 above its 12 month average. So what we have seen thus far of the price of oil, it constitutes reason to up the probability of a recession. There were all kinds of ways of putting it into context. In the grand scheme of things, this wasnt as big of a deal. Its coming down now, by about 6 from yesterday. The u. S. Was a lot more toward Energy Independence than weve ever been in the history of the country. The concern before this event was actually oversupply. We havent had a chance to talk about how thats been in the larger part of the conversation. Well find out tomorrow where we stand. Assumptions have not been as they were a few days ago but even if we do now, the question seems to be, is that it for now . The Federal Reserve is getting the impression that they will do several more. On fundamentals supporting thought . Weve got good retail sales, production today, the index of National Associations of homebuilders. We are getting more and more, we are operating with 2 or so. Mark is so convinced now that we are going to get a couple of more. Not too long ago, the market signed out one 100 to a rate cut tomorrow. The odds are down to 58 just for tomorrow. But the fed does in large part depends upon the Economic Outlook influence of of the ten year treasury. How would you handle that . I would keep cutting until i got funds under the ten year treasury. It may be eventually at the bottom of 1. 63. There are trying to gain out what will happen with trade policy which is not something they obviously control. The president who tweets a lot about the negative race and not referring to japan or germany but i would point out, it hasnt worked in germany or japan. Be careful what you wish for. I think jake powell will clearly signal for the market that he still has an open mind for additional rate cuts because he realizes its something he needs to stay. That doesnt mean he has to be held to it. He will make it clear that he still open. Thank you for everything today. We just talked about this a few minutes ago, it looks like saudi arabia is coming back online. More to come, well be right back. It off. Looking good, patrick. I know. vo go national. Go like a pro. Should always be working harder. Thats why your cash automatically goes into a Money Market Fund when you open a new account. Just another reminder of the value youll find at fidelity. Open an account today. Connell this time tomorrow we have the Federal Reserve decision we were talking about interest rates. Fortunately for all of you neil will be back in the chair. You dont want me for a fed decision. I get nervous. Anything could happen. I see you at 4 00 with melissa for after the bell. The marketed turned up for Charles Payne but down a few points. A lot of headlines for saudi arabia. Charles, overto you. Charles the cp effect continues now, connell. See you at 4 00. Breaking at this moment it has been a summer of magnificent moves. Wild gyrations, it feels odd, eerie to have a calm before the storm but these are the days that you have to prepare. So we are handicapping the feds meeting, china trade talks, that amazing Economic Data out today. Also senator warren drawing tens of thousands to a recent Campaign Rally and picking up a huge endorsement. It is starting to look like trump versus warren 2020. Your thoughts on that. A seventh person dies from suspected vaping related illness