Dignity around the world. I want to thank so many of your countries for the partnership that weve forged and the progress that weve achieved together over these past eight years in rescuing the global economy, securing vulnerable nuclear materials, a comprehensive deal to prevent iran from obtaining a nuclear weapon, halting the spread of ebola and thereby saving countless lives. In paris, the most ambitious agreement in history to fight climate change. A new, Sustainable Development set of goals to end extreme poverty and promote health and education and equality more all people for all people, including women. And through the everetts of many of you efforts of many of you, we continue to try to move beyond old conflicts, supporting the transition to democracy in burma, forging a new partnership in vietnam, deepening our new chapter of engagement with the cuban people. Helping to support the efforts in colombia to end the decadeslong conflict. Thats the power of diplomacy. Thats whats possible when our nations and our peoples Work Together in the spirit of mutual interest and mutual respect. And what a contrast to the death and nihilism that terrorists offer. What a powerful reminder of the progress and opportunity and hope that we can advance when, as nations and as peoples and as individuals, we refuse to be defined by our differences alone, and we remember that we are all part of one human race. Even on difficult days like this, thats what gives me hope. And thats what should give us all hope. Because on this planet of more than seven billion people, the hatred and the violence of a few ultimately is no match for the love and decency and and hard work of people of goodwill and compassion so long as we stand up for those values. And so long as we answer those who would undermine those values. Im very proud of the work that weve done over these last seven and a half years in partnership with your countries, and so long as i have the privilege of being president of the United States, i will continue to stand alongside you to promote those values all across the world. Ry. [applause] liz horrific terrorist attack in nice, france. Tragic, appalling and, quote, sickening, saying we will not relent in our fight against the terrorists, but we will keep taking out isil leaders. The president also calling france our strongest and oldest ally, telling french president francois hollande, quote, we stand with france now. France is in mourning again at this hour following its tenth terror attack since january of 2015. With that truck barreling through huge crowds of revelers last night in nice. How does this terrible act Impact National Security around the world and specifically here in the u. S. . What should president obama be doing to prevent this from happening on our soil . And we destroy isis can we destroy isis while as the president just said seconds ago, never giving up on diplomacy in the region . Lets bring in Major General bob scales. General scales, its just absolutely stunning. I brought the new york post. This says it all, front page, with the huge words, again . Seriously, again . Ten since 2015 murderous acts, and this keeps happening. What do we need to do, what can we do . Well, obviously, liz, defense doesnt work. Weve tried to defend the homeland just as the french and the ball generals bell generals and the turks and the Saudi Arabians have tried to defend their homeland, and it doesnt work. The only thing we can do is begin the process immediately to build a coalition of all those states that are aggrieved to give up all of our political differences in the region and fight against a common foe just as we did in world war ii where we bound with the french, the british and the russians. And who are these states . Well, you know who they are, its russia, saudi arabia, turkey, britain, france, belgium. Combining with the United States and led by the United States to build a Campaign Plan and go after the heart of isis and destroy them, collapse their center of gravity, break their will. Thats the only way over time that this growing global menace will ever end, liz. Liz general, we do have some breaking news. Of the 84 dead, 50 hanging between life and death according to francois hollande. Wow. Liz 25 of those people are in comas right now, okay . That is the breaking news. 25 people are in comas. Pain and horror of this is just unmatchable when you really think about it. One man with a truck, and by the way, also breaking news, hes been identified. 31yearold mohamed bouhlel. Hes tunisian, hes lived in france. They are picking through his apartment right now, his house. Hes married with a couple of kids. He does have a long list of runins with the law. He was not on a terror watch list, but what are we talking about here when you say defense does not work . You know, i started to look, and i saw that we have launched dozens and dozens of drone attacks trying to take out isis leaders in every nation between pakistan and yemen. Right. Liz what else beyond that . Well, first of all, liz, drone strikes are feelgood attacks. Theyre pinpricks. They may chop off the head of an organization, but this organization, as you know, is a hydra. It has many heads. There are second and thirdtier leaders who are ready to step up and take the leadership when one of them gets whacked. Its not about drone strikes. Its about, first of all, a strategy. Just as general mike flynn said this morning. Secondly, its about a game plan. Third, its about building a coalition. But, look, this isnt a coalition as the president just said the build diplomacy in the world. No. The way you win the hearts and minds [laughter] of isis at this particular stage of the insurgency is to kill them. And the only way to kill them is to invade their territory. The american people, the american people, i think frankly, after seeing what happened in nice and elsewhere are reluctantly ready to support this. Liz well, yes. I, you know, it would be very hard for americans to stomach losing another 5,000 military. But, again, ring fencing is not working. But this tactic, and we can show that truck once again, and then the horrific and dramatic conclusion where police were shooting right through the windshield to try and get him to stop. We can listen a little bit to this [gunfire] liz and they were able to kill the driver who, again, had apparently rented the truck just this past monday. It was unmarked. It was a refrigeration truck. He was barely stopped. He was sort of questioned summarily by French Police who let him continue on his way when he said he was trying to serve ice cream. But this tactic of using vehicles, weaponizing vehicles, may be a shock to people in france or in the u. S. , but it is not a shock at all, because it is a very familiar tactic to at least one nation x that is israel. With me now and how the israelis have handled no less than dozens of these attempts to ram people with vehicles is the former israeli ambassador to the u. N. And Fox News Contributor dan gillerman, and major scales is going to stay with us. Ambassador, you are very familiar with this tactic, are you not . How have the israelis learned to deal with it . Yes, liz, its true. Unfortunately, we are very familiar with terror. Weve been fighting it for years, and we are, sadly, very familiar with this use of vehicles as killing machines. Weve had over 30 of these attempts and these attacks by cars ramming soldiers and civilians just since october, but weve minimized them by having concrete roadblock, concrete barriers and setting up roadblocks. And, indeed, profiling people and making sure that suspects do not enter these places. And i think, you know, i hate to criticize the french. Liz of course. I sympathize with them, i admire them, and my heart goes out to them. But, you know, i was in new york just a few days ago on the fourth of july, and i saw the three Million People lining the east live. And i dont think a single truck would have been able to enter that perimeter. I think the whole of fdr was closed. But beyond prevention, i fully agree with general scales. You know, he was talking about world war ii. What we have to realize is that this is world war iii. Its a different kind of war. There are no soldiers in trenches anymore. But this is an uglier and more cruel and cynical war than weve ever known before. And that is why i totally agree, we need to form a coalition. Special forces made up of all the willing countries, countries that have experienced terror and countries liz okay, but thats, you just used a keyword, willing countries. And, general scales, i think two nations so far in the arab world, egypt being one of them, have spoken out and issued statements along the lines of, you know, the perpetrator of this will be, you know, looked down upon by the angels and by god for all time. [laughter] i mean, i suppose that kind of language works with that particular religion and crowd, but beyond that when you say willing, when Danny Gillerman says willing, where are the arab nations standing up in meaningful ways . Well, i think thats changing. I think if you look at turkey and to some extent saudi arabia, i think theyre finally getting to the point where pragmatism trumps ideology and all their political silliness. I think they realize that the future not only of the western world, but the future of the middle east depends on their ability to coalesce together and kill these barbarians. The object is not to seek some sort of political, diplomatic accommodation. Its too late. The object is to drive into syria, capture raqqa and kill every isis member we can find in that city. Liz yeah. Capture or flatten, who knows . You know, this has been tweeted, but also we should mention that december of 2010, ambassador gillerman, the u. S. Department of Homeland Security warned that vehicles could be used to target locations where large numbers of people congregate. Just what you were talking about when you were talking about the east river. That was, im assuming, the fourth of july fireworks. Events, entertainment venues, Shopping Centers in the u. S. New york may have it down, but as you say, perhaps other cities and other soft targets dont. But people using these weaponized vehicles in israel, what do you guys do . Do you prevent palestinians who have any kind of criminal background from getting drivers licenses or renting vehicles . Give us some concrete effort and control here. No. We watch them very carefully. We have, we have built concrete barriers along very significant areas. We have roadblocks where we stop cars that look suspicious or even people who look suspicious. And, you know, i know profiling is not popular or is not done in the United States, but i think one thing we have to do is to stop being politically correct. This, you know, i would rather be, you know, i would rather be politically alive than politically correct. And while it may be true that not all muslims are terrorists, it is sadly true that all terrorists, nearly all terrorists are muslim. And, therefore, i think that the key is in identifying the disease. Someone comes to you with cancer and the doctor says its flu, youll never cure it. This is cancer. Its spreading all across the middle east. I think the general is right, there are a few countries that have woken up to it including egypt whose president sisi realizes the extremists are threatening his regime. And this is a fight between extremists and moderates, and we have to help the moderates and make sure that they prevail. And we can do it by establishing a coalition with special forces led by the United States and nato and israel and the moderate arab states in order to crush these people. Go this there and go in there and crush them. Crush their money system, crush their oil wells, crush their bank accounts, crush their skulls. And at the end of the day, we also have to be very careful about all the people who are leaving the United States and europe and going to these countries that harbor terrorists whether its syria or afghanistan or pakistan or others. They should not be allowed back. This should be a oneway ticket, because theres only one reason to go there, and thats to come back liz to learn how to kill. Learn how to kill. Well, at the moment we are watching a lot of memorials going on and, of course, the video of this horrific attack. We want to thank ambassador dan gillerrerman in tel aviv right now and general bob scales. We appreciate it. Closing bell is ringing in about 45 minutes. The markets are taking last nights attack be are slightly subdued at the moment. Down four points for the Dow Jones Industrials at 18,501. S p is down four points as well. Will we see more records . Well, weve got 45 minutes before we can see that. For now, its a no of go. The floor show is next. And weve got a stealth stock surge. Three weeks to the day since the markets sold off nearly 900 points due to the u. K. s decision to leave the european union, and since that time the market has rebounded. The biggest winner in the s p 500 since brexit, American Airlines group. After the vote the Stock Plunged to a low of about 25. 27 on june 27th, but that looked like a buying opportunity today. The stock has recovered all of that, now trading around the 36 level. 35 recovery for more than airlines group. Donald trump naming his running mate, and conservatives seem to like indiana governor mike pence. Lets get a live report in just a second for you. He has arrived and walked through quite the gant let of media at trump tower. Well take you there when countdown comes right back. I have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. 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And everything autosyncs. Those sales prove my sustainable designs are better for the environment and my bottom line. Thats how i own it. By switching to xfinity x1. Rio Olympic Games show me gymnastics. X1 lets you search by sport, watch nbcs highlights and catch every live event on your tv with nbc sports live extra. Im getting ready. Are you . X1 will change the way you experience nbcuniversals coverage of the rio Olympic Games. Call or go online today to switch to x1. Liz okay. We do have about 40 minutes to go until the closing bell rings. You do have red on the screen right now, but this after four days of victories. Bulls are looking a little tired, so any move to the upside would notch the fifth day in a row of records for the s p, fourth day in a row for the dow. Were not there yet. Banks are getting beaten up. Lets look at wells fargo, its the biggest drag, down nearly 3 after reporting that Second Quarter profit dropped by 2. 8 . And you know what . Even though earnings per share and revenue met street estimates for wells fargo, analysts hate the fact that the Mortgage Loan revenue business fell about 17 . So we see those shares falling about 1. 39 at the moment. Even with the overhang of the terror attacks, lets get right to the floor show to see whats going on in these last 45 minutes. Traders at the New York Stock Exchange and cme group. To you, stephen guilfoyle. Again, do you see a record once again today after days and days of alltime highs with not a huge amount beyond a great jobs report last friday to really drive this . You know, the macro was really good today. Retail sales, core cpi, Industrial Production, that should be putting the hurt on stocks. But it really isnt. We see upward pressure on yields, upward pressure on the dollar, but stocks are hang anything there. Is the economy so good it can push us to another alltime high today . I kind of have my doubtses. Doubts. Im kind of worried about the downside here. Liz steven, let me push you just a little bit. We got china Gross Domestic Product for the seconder quarter coming in at 6. 7 . I dont like to ignore china. Was that part of the positivity that is at least keeping these markets flat versus down much more . Well, it certainly helped last night. After the terror attack in france, you saw the futures wiggle a little bit. Liz yeah, yeah. But when the positive news came out of china, on Industrial Production and retail sales as well, the futures kind of fixed themselves, and they didnt get into a bad place all morning. Liz let me get to Chris Robinson at the cme, and id like to quickly touch on oil. Look, we had a very interesting day, but for the week in the aggregate, it looks like a gain that would be, i believe, the second consecutive weekly gain here. West texas moving higher, the recount up by six. They grinded up the engines one more time, six weeks out of seven. What do you think happens here . Well, i think especially watch the technicals. Im a big believer in technicals. We got right down to 45. That held. Theres a trend line right there. They tried to push through it, and, you know, weve come off 52, the highs. A lot of people are kind of throwing the towel in, going home for the weekend, and theyll take a second look at it next week. Technically, 45 held. That was a big level. And i think i would continue to watch that level. Liz yeah. You know what . I think its at its quadruple 45. [laughter] its holding that level. Its tested it, but its continuing to hold. Sarge, before we go, next week again were in the doldrums of summer and notwithstanding horrific terror attacks, but what will drive the markets at the moment . For anybody watching right now thinking should i be picking up some names on the cheap . Its earnings season, so youre going to be watching netflix and a lot of other internettype names. You have to watch everything that comes out of the voe because now they set up august, and you have to watch the voj because theres this whole perpetual bond theory thats being floated, and thats going to change the whole central banking picture if they go that right. Liz bank of england, bank of japan. Ill put it on my radar. 37 minutes to go before the closing bell rings. Leading the dow 30 with the heat map, its virtually split in half here. Cater be pillar is the leader, nike, the laggard. Apple straddling but still at about 98 a share. Remember just a couple of weeks ago Warren Buffett bought a huge stake in apple at 89. The numbers invert right now, were at 98. Hey, you know what . Heres the first look at the inside of the Convention Center in cleveland. The fox cameras are on that stage as they test the pixlated screen behind it. People are testing microphones, checking all kinds of things here. When we come back, well be touching on that and so much more. Please dont go away. Guess what . In just a few seconds the dow has now reverted, moving higher by nine points. Interesting. Liz last nights terror attack in france upending the 2016 president ial race forcing donald trump to do this on your screen. He canceled todays official announcement naming his running mate instead in last few hours opting to announce by twitter. Im pleased to announce that i have chosen governor mike pence as my veep. He ended months of speculation picking indiana governor. He long said he wants, a running mate, with quote governing experience. Pence, a former congressman getting thumbs up from fellow republicans. Senator marco rubio tweeting, governor mike pence is rock solid. Connell mcshane just out of at the trump tower. He is getting taste of things to come. Were showing gauntlet of media he wept through to get out of the trump tower. With can you tell us. Reporter pence came here a short time ago. He ran into number of members of the media, being dropped off on the side entrance. Were not there on fifth avenue. Instead around the block on 56th street. He has been holed up at a hotel here in town, intercontinental, not far from trump tower. He had this to say when he left there. Very excited, very humbled and very excited. What is your message to hoosiers now that you dropped out of the indiana governors race. We love indiana and my family and i couldnt be more honored. To run with and serve with the next president of the United States. Reporter this pence pick is seen by those who support it a kind of a nod towards the conservatives, trying to get them on board. Make even some skeptical or are skeptical of donald trump. How about speaker of the house, paul ryan . He may fit the bill. He put out a statement, mike pence comes from the heart of conservative movement and heart of america. I can think of no better choice for our vicepresident ial candidate. Ryan is personal and close friend of pence from their time in the house together. Republican ticket, new one also very quick to hit the fundraising circuit together. There was a note sent out to potential backers a short time ago trying to solicit donations. As part of that, we see the new logo, the new trumppens logo has internet excited. Interlocking tp, trump and pennals. This is not mind you the smoothest rollout weve seen of a vicepresident ial pick of all time. To be fair it was complicated by attacks in france yesterday and postponement of todays planned announcement. Trump, according to reports was not so sure about pence. He appeared last night on fox news saying he had reached his final final decision. As he was saying that pence was clearly already here in new york at the hotel we mentioned. That said the two will make the first joint appearance together tomorrow mere in new york on a saturday, 11 00 a. M. , across town at the hilton. Liz, back to you. Liz Connell Mcshane at midtown manhattan, outside of the trump tower. Were watching story incredibly closely, even with the closing bell 29 minutes away. Look at this, folks, dow fighting to close at another alltime high. In fact we were down couple points. If youre driving, listening to us on siri russ 118. Well take it to lori rothman to find out what is behind the turn around. Latest attack in france shaking up campaign trail. Donald trump and Hillary Clinton with diverging ideas how to end the bloodshed. We have Republican Party chairman matt borfus, security moves that the site of the Gop Convention and what does he think of mike pence if what does mike pence bring to all of this . Dont go away. Reporter im lori rothman on floor of New York Stock Exchange with a fox business brief. Markets losing some momentum at end of a record breaking week. In the last moments were seeing a turn around for the dow. The dow is up 23 points. Up 2 1 2 on the week. The s p 500 is down onehalf of one point. On track for a half of a percent gain for the week. Options expiration friday, that might explain some of the late session volatility. We had an ipo. Debuting under symbol apfh. The company jumped. This is packaged Sandwich Food company, raising 233 million. The Company Plans to use the money raised to repay its debt. Cruise line stocks, norwegian cruise, royal caribbean, carnival all down in the wake of the horrific terrorist attack in nice. Lets get you back to countdown to the closing bell and liz claman. Thank you. Ordering chinese food is a very predictable experience. I order b14. I get b14. No surprises. Buying business internet, on the other hand, can be a roller coaster White Knuckle thrill ride. Youre promised one speed. But do you consistently get it . You do with comcast business. Its reliable. Just like kung pao fish. Thank you, ping. Reliably fast internet starts at 59. 95 a month. Comcast business. Built for business. Liz we want to just quickly take to you nice, france. This is a live picture. It is 9 37 p. M. As crowds gather to memorialize 84 people, innocent killed last night when an individual jihadi went behind the wheel of a rented truck and smashed into a huge crowd celebrating bastille day. Called the promenade. This is the rodeo drive or Michigan Avenue of nice, france. Many have lost their lives. 25 of those wounded are still in comas at this hour. And it is not a surprise or shock to any of you with just 96 hours to go until the Republican NationalConvention Kicks off security is just as much a focus as the republican ticket itself. Protecting the grounds of the quicken loans arena, the Main Convention site, there will be secret service, tsa, u. S Customs Border protect officers, along with thousand local and federal personnel including national guard, pd, mounted police, k9s, concrete barriers and 3,000 miles of interlocking steel barriers. Look at that, 2,000 retractible steel batons on site. The chairman of the ohio Republican Party. Matt, simple question to start here, has anything regarding security been changed since the terror attack last night . Not that im aware of but there has been a great plan in place for over a year now. Folks have been working on this to get cleveland ready. Youre seeing the signs of that all over the city. A lot of those barriers have already gone up. Theyre constructing those physical barriers so people cant get into the streets and those kinds of things already. And, i think cleveland is ready to go. Liz you know what . My money is on cleveland police. I know a lot of those guys when i worked there a couple years at channel 5, except things morph and change. The way these terrorists think and behavior. They know what once thing is shut down, they will try a different tacktic. Is it fair to state, things people are watching right now dont know are happening but Law Enforcement is working on . Yes. And we got, the rnc members got a security briefing from one of the people in charge of this from the secret service during our meetings this past week. Well be doing something similar for ohio delegation when they get into town. Make sure they know that preparations have been made. People on top of this for a long time. Know the city, have really prepared for all these possibilities and then, to make sure folks know to keep their wits about them and their heads up as theyre traveling around or Walking Around downtown streets to avoid certain situations or make sure theyre, aware of things around them, and, it is going to be up to all of us to be ever vigilant. I think well be just fine when everything happens in cleveland next week. Liz lets hope so. I want to dovetail to donald trump making it official, mike. I dont know if you saw earlier, mike pence trying to get into the trump tower, the indiana governor going through the gauntlet, side street of 596th and 5th, unbelievable to see him charge through there, a taste what he will get standing next to donald trump. Tell me what you think of him as the head of ohio Republican Party here . Looking at what pence offers, he has positives for diehard conservatives but does he help nabbing independents or maybe hillary, maybe trump voters . Oh, certainly. I think his executive experience is going to be front and center. The fact he has been a job creator. Indiana has seen a 150,000 new private sector jobs since he has taken over as governor will be critical for people looking for the economy to start to grow again and get out of doldrums it has been under president obama for such a long time. I have a little bit of a taste what he is going through helping in 200to introduce sarah palin to the world. So he is now in the, in the bright lights and big time, will be for the next several months. He will continue when he becomes the next vice president. Liz youre a buddy of governor of ohio, john kasich. Let us in on the secret. Will show up . Will he attend this convention . Well, my understanding is, at least at this point in time there are no plans for him to speak. He is going to be in town. He will be up here and for all fourdays of the convention and looking forward to seeing him. Were having an event to honor him on tuesday at the rock hall. That should be a great event. Im looking forward to that. Liz let me clarify here, will he enter the Convention Space . He of course had roughandtumble moments while he was running against donald trump. Do you expect that he will make an appearance inside of that building that were showing . I guess im not completely familiar with his calendar for the entire week but i look forward to seeing him when he is up here. Of course will be part of the events that he is doing here in town and, im sure he will enjoy what cleveland has rolled out for the party and for the country and it is going to be clevelands opportunity to shine. Liz matt, great to see you, thank you very much. Busy, busy week for the ohio Republican Party chairman. Thankthank you for taking time o come on with me. Keep it here for fox businesss complete coverage of business angle. Gop Convention Starts monday. But before that, tune into wall street week. Is the Rnc Convention really 6 million short paying whole thing . Anthony kaminsky, they have rnc finance chair tonight at 8 00 p. M. Eastern. Stick around for stossel 9 00 p. M. Eastern on the fox business network. Holding on to slim gains of about 13 points. We thought he was crying then. But he is really crying now. Another brutal loss for baby buffett. This time in his battle with herbalifes stock. Charlie gasparino reporting on this story since day one. He got it right on all fronts. He has got the exclusive details you will only hear on fox business. Charlie breaks it next. Phil mickelson looking all the way to take it at the british open despite literal storm of competition. Latest standings and all the highlights straight ahead. Countdown quote, coming right back. Could we see another record . The dow is there right now. V your Insurance Company wont replace the full value of your totaled new car. The guy says you picked the wrong insurance plan. No, i picked the wrong Insurance Company. With Liberty Mutual new car replacement™, you wont have to worry about replacing your car because youll get the full value back including depreciation. And if you have more than one Liberty Mutual policy, you qualify for a multipolicy discount, saving you money on your car and home coverage. Call for a free quote today. Liberty stands with you™. Liberty mutual insurance. Liz Phil Mickelson battling it out at royal troon and battling mother nature. Round two of the british open in scotland. Lefty the first round leader. Followed up with 2under par 69 to hold the clubhouse lead. Mickelson, 10under par for the tournament. Look who is number two. Henrik stenson. And keegan bradley. Did you see the gorgeous blonde that governors now . Liz theyre all gorgeous to me. One blonde. Liz lets get to a different game, highstakes game, settlement that sent shockwaves through wall street. Herbalife, the supplement and shakemaker finally settled with the federal trade commission for 200 million but that is hardly the end of the story. Billionaire bill ackman who famous accused herbalife of being a pyramid scheme, he shorted herbalife, crying at certain points past couple years how he felt the company was cheating some of its salespeople out of commission might be on the virg of tears again, he officially lost a one billion dollars bet that herbalife would be proven a pyramid scheme. It has not. Now that the game is over, what does it mean for bill ackman . Bring in charlie gasparino, who last couple years you and i sat here dont see it as a pyramid scheme. Be clear you and i had no horse in this race. Liz none. I dont care if herbalife survives or doesnt survive. The notion of going to zero to being a pyramid scheme to our liz journalistic eye. Journalistic eye, seemed to be absurd. I thought something bill was doing to expedite the short and paying of lobbyists. There was a degree of that i have never seen a guy go after a company. Be honest with you. Were not talking about a cop that sells cancer drugs. He is calling the company, a fraud that makes protein shakes. Liz my point, you had different points why you believed it was not a pyramid scheme. My point pyramid schemes fold fast. Liz and crumble much earlier than decades this company has been in business. It may be a crummy business in the future but it is not zero. You and i reported back in 2014 essentially settlement, a fine, changes to the Business Model and it will go away. That is essentially what happened today. That is why the stock was up. The stock was up 16 , 17 . Liz profittaking now. Up 9 1 2 . This is i would say good news for the company. They really dont have to change much. They put in a lot of stuff already. They can continue their expansion overseas. They dont have to moderate any of that sort of stuff. It is bad news for ackman. The second biggest loser he had this year. Valeant, one of the worst bets ever and now this. Now this, ill tell you, he put out a Statement Today still thinking its a pyramid scheme. Will go to zero. Liz he said, good for the federal trade commission. This is sort of a moral victory for him but moral doesnt pay the bills. By the way it was not that moral. If it was moral they would have came in said, you guys, do x, y, and z that would have squeezed Business Model and would have said you nice operated illegally. They havent said such a thing. What they did is pretty much Government Agencies do what they spend a year, in this case four years investigating something, really not coming up with not much. They take a pound of flesh and say a few things. Liz let me clear on one thing. The ftc did say herbalife must now reward members for what they sell, versus how many people they recruit to sell. They do that anyway. And im just sayings there is very little injunctive relief here. Liz do people pull money out of pershing or bill ackmans fund or do they still believe because he had winning bets . He uses cnbc as personal pr agency. This is my opinion. This is not fact. He uses them and they allow him to use them and i think that will help him, you know, because they, the people scott wapner and them, they have actually no problem allowing bill to use them as sort of a marketing arm. It is pretty obvious. Watch interview yesterday. They did this huge interview with him yesterday, he was using cnbc and scott wapner as a marketing arm. My view, i dont think people are heading for the doors. I think cnbc, he will keep using cnbc. They will keep allowing it to happen. Listen, he is a really smart guy, just so you know. Smart guy, good investor. Makes crazy investment. I think he gets too personally attached. Liz yeah. Cnbc i fault them more than him. He is supposed to use them as marketing. Theyre not supposed to allow them to be used as marketing. Liz go on foxbusiness. Com and search every story weve written since he initiated his short december of 2012. We gave good guidance. Like a broken clock. I got it. Liz herbalife jumping 9 1 2 . Charlie gasparino. Thank you. Six minutes to go before the closing bell rings. A record weekday after day. Will we he see it again. The dow is there, folks. Boy, is it jumping all over the flat line. Delphi management scott black is standing by. Barrons goto guy on all things stock. He will give you a reality check you need and cant miss. [announcer] is it a force of nature . Or a sales event . The summer of audi sales event is here. Get up to a 5,000 bonus on select audi models. Liz i keep saying this what goes up must come down but the dow is not doing it. Lets bring in scott black. He tells you what to do when it comes to picking stocks. Barrons featured him on the cover recently. He is one of their investing gurus. Thanks for sharing your picks here, scott. I have no problem with record after record. I like our bulls just as much as we like our bears. Why are we seeing multiple highs day after day . Does that worry you or are you fine with it . I doesnt pick the market. Nominal Interest Rates even so low in the United States and no alternatives for yield, even at 19 times earnings its a bargain visavis anything you get in the bond market but i think the real issue it is very expensive. Small cap stocks are 24 times. The big problem is there is no earnings momentum. Down 7 yearoveryear with s p earnings in first quarter. Down another 5 . Dangerous to have rising market with down earnings. Liz right now we have yet another record for the Dow Jones Industrials. As you look ahead, some people say buy value names. Others say go for gutty ones, growth stocks. Michael binger said look at growth stocks. What is your view and what you put in your portfolio . Warren said buy Value Companies at value prices. Theyre getting increasingly difficult to find but i have a couple for you today. Connell weve got them up on the screen. Celestica and icon. We keep it macro, people can do their own research on this . What do you expect next couple weeks . It is earnings season but headline driven market with bank of england weighing in and who knows what the fed will do. I dont think the fed will raise rates. We got a nominal gdp. Might be 2 1 2 . No way they raise rates. Forget about that. I think market continues on, barring some major crisis, whether, even terrorism was discounted today which is what happened in nice. I think there is a lot of money flows into equities at this point. But as i say, stick with companies that you want to own. You know the old musical chairs. When the music is turned off you want to make sure you have still a Good Business that you own. [closing bell rings] liz i hear you. Another record. Well hold off on confetti for today. Here we go again, making it multiple alltime records for the dow. S p doesnt quite make it. Here is connell and melissa. Connell here we go again. Melissa yeah. Connell stocks, another record, cant be stopped. Im telling you it is me. Taking credit all week. Another record, just barely though. Winning streak for the dow, s p 500 and all three major averages end week higher. Im Connell Mcshane filling in for david asman this week. Melissa im melissa francis. This is after the bell. We have you covered on the big market movers. Here what else we have for you coming up this hour. Were getting new details on the terror attack in nice, france, that killed at least 84 people including two americans. French Officials Say 52 people remain in critical