Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20170626

Clock at 3 00 p. M. And 45 seconds, so were watching it. This score could pave the way for republicans to move forward with their plan or put the plan on ice. Republican congressman Drew Ferguson ran and won on repealing and replacing obamacare. But could republicans in the senate derail his promise . Hes here in a fox business exclusive live. Number two, speculation running rampant, the Supreme Court Justice Anthony kennedy could announce his retirement before the Court Official adjourns for the summer. Some say today is his last chance. And the Prime Minister of india will arrive at the white house during this hour. Former u. S. Ambassador to india joins us exclusively on whether the two pro Business Leaders can iron out their differences to make a additional trade deal. Were less than an hour to the closing bell. Lets start the countdown. Liz i mean, one minute youre up 111 points and now the dow up 35. Whats going on . Well, wall street traders are turning up the heat during this last week of june. Right now, all three major averages are on track to end the month with steamy gains. The dow, particularly looking good at a june jump of nearly 2 , s p better by 1. 2 . And if we were to end today, up one full percentage point. Its flirting with the unchanged line all day long, you can see that it is down 15 points. Cant quite get there right now. It fell after the open. Even though facebook is actually hitting an all time intraday high. But well be talking about that in a second. Listen, after rallying 2. 2 last week, the entire sector taking a breather with the bellwether names you all know and may very well have in your portfolio of course alphabet, the parent of google, amazon and microsoft all sitting in the red and facebook going hollywood. To this amazing facebook story that cant be a surprise to a lot of people. Shares of the social media giant did hit a neverbefore seen level earlier after reports it was dipping its toes just like apple, just like netflix into originalscripted programming. Move over, apple and netflix. Right now facebook is slightly down by about a percent, so it has reversed at the moment. But thats following the whole Tech Leadership at the moment. Were at 153. 76. Great time for script writers. You dont often get to say that. To capitol hill and the congressional budget office, cbo expected to at any moment release its figures on the potential costs and ramifications of the Senate Republican Health Reform plan. Many say its gutting a medicaid world that we live in right now versus a repeal and replace of obamacare. The pressure is on as both conservatives and moderates in the gop are breaking ranks with Mitch Mcconnells plan on thursday. Right now, though, we can tell you that the numbers of the Senate Majority leader side do not stack up. Word from the white house just moments ago, President Trump spoke extensively with a number of lawmakers. Senator ted cruz, rand paul, and ron johnson. But very important to note. We have heard specifically from them whether they have changed their votes. So will the coming cbo score either be another nail in the coffin or possibly a breath of life for the administration to see in order for the latest version of the Health Care Reform to pass . Adam shapiro is live at the nations capitol and, adam, i know youve been speaking to some senators. One in particular. Yeah. One very important one. Chairman of the Senate Finance committee. Not only does that committee oversee more than 50 of the u. S. Budget but also issues like tax reform and health care. Now, the latest on cbo is remember, that were going to be looking for the figure. Remember, the house scoring said 23 million americans over time would lose their insurance under obamacare. But also, we want to see what that number will be under the senate plan but also, is it deafit neutral . It cannot add to the annual deficit, or else it cant be approved by the senate under the reconciliation guidelines. So we spoke to hatch today on the chances for health care to pass, and heres what he told us. I prefer anything other than centralized medicine. If we go that route, pretty soon health care will be almost dime of the federal government, and ive got to tell you. People are demanding more and more and more and more, and thats just the way it is. And if we go to socialized med, we deserve what we get. And were almost there. If we dont win on this issue in the United States senate, thats where were headed. Now, liz, literally as you were coming on air with the program, anthem insurance, Anthem Incorporated put out a statement about the senate plan saying quote we believe the Senate Discussion draft will improve the stability of the individual market and moderate premium increases. This is crucial because remember, they pulled out. Its anthem which operates blue cross and blue shield in places like indiana and wisconsin and ohio. They pulled out of those changes because it isnt profitable, and they cant afford to sell insurance there. And remember, the Senate Version offers two years worth of subsidies to stabilize the insurance exchanges. Anthem now saying they think it would work. Liz. Liz yeah, you know what . We just have to wait and see. But also representative drew is coming up next, and i have to tell you, listen, hes a member of the doctors caucus but also has a problem, the Opioid Epidemic that everybody is seeing. Real problem. Yeah. You talk about the Opioid Epidemic, and you have rob from ohio to deal with increased defunding. Liz good to see you. Thank you very much, adam. As we await this score for the senate, elsewhere on capitol hill is Supreme Court ruling today upholding key parts of President Trumps travel ban for reasons of national security. And heres the quote. Making an important except for anyone with a quote bona fide relationship with a person or entity in the United States. Meaning if somebody who is a foreigner and not a permanent resident and not certainly a citizen has some type of relative or relationship thats considered bona fide, they can come in from the six countries that now have restrictions. President trump applauding the decision earlier calling it a quote victory. Lets get to fox business blake burman live at the white house. Sean spicer made i guess off the record on the record but not on camera comments of the scotus Decision Just moments ago. But there was problems certainly with foreigners who wanted to come here, used family and relatives as an excuse, and then did some bad deeds; correct . Youre hitting on the exact phrase here that matters so much to this ruling, liz, and that being the bona fide relationship. Someone here in the u. S. With a entity, theyre allowed to come in, the Supreme Court ruled. If they dont have that bona fide relationship, holds firm. So in a big way or in that way, at least, this was a big win for President Trump. However, his administration as well, that bona fide relationship carve out also somewhat narrows the scope of the president initial executive order. Remember, he wrote one that was challenged and the second executive order, so this kind of limits that in a way. At that off camera briefing, i asked sean spicer if the administration and if the president feels what the Supreme Court put forth today is sufficiently able to protect the homeland. And this was his response here. I think its a good step forward, the department of justice is reviewing this in terms of both implementation and its impact. So i dont want to get too far ahead of all of these brilliant legal minds as they review the impact. But i think as i noted, i think the president feels very, very pleased with the decision. President trump tweeted on this a little while ago, liz. From his twitter feed he wrote, and im quoting here. Very grateful for the 90 decision from the Supreme Court. We must keep america safe. A few things i will leave you here with, liz. This was a unanimous decision, a written order, not a majority opinion, minority opinion. Spicer was asked about that what do they mean about this 90 decision, and they said, hey, look, this is what our legal team put forth. You heard mentioned there what they believe was a positive step forward but, liz, it was also very clear from that briefing that they still have a lot of work to do here on just how to implement this going forward. Liz right. And they didnt specifically say there were no deexteriors, there were just i believe no noticed dissent. No noticed dissent. So who knows. May have very well been 90. So well wait and see. Blake burman, thank you very much. And adam will interrupt us the second the cbo score comes out. Just want to keep you posted on that. In the meantime a nail biter on wall street from the Supreme Courts decision on the travel ban to the cbos much anticipated score on the Senates Health care bill. That, folks, could come as i said in any moment. But as were watching the markets, we need you to watch the markets alongside with us because there very well may be a rod, hot bubble expanding where . In the commercial real estate world. Traders are chewing their nails as we kick off this busy preholiday week. What has the biggest potential to move the markets . Right to the floor show, traders at the New York Stock Exchange and cme group. Let me just explain i know you guys know this. But our viewers. There may very well be a big problem with commercial real estate because theres so much lending out there. Some people are calling that a bubble. I know ben bernanke has. But scott, what concerns you the most or excites you that may move the markets in this hour and beyond . Well, we are in the last week of the second quarter. And typically when you have a Strong Quarter like we had, sometimes being marked up the recent winners. So i think traders came in this week on a plan of whether or not we could extend the next few sessions in order to get those markups and how to trade it. At this point we had an opening reversal in tech, so that gives a little bit of cold water. But as long as the s p holds, say, above 2435, i think were still in the gain for a bit of a markup into the next few sessions. Liz okay. Again, were watching this so closely, so tick by tick right now just so our people who are listening on xm113 channel in the car, hi, guys, can you hear me . Great to have you. Up 46 points right now for the dow jones industrials. Todd, looking at the market flows overall, this morning the market kind of skyrocketed sky high, moving higher by about 111 points for the dow. But back to earth around 10 55 a. M. We watch those things because were market, in other words. But what do you attribute that to . Were coming up on quarter and month end. But, liz, if you want to lack at something thats really interesting, and that is the fact that tenyear yields and the s p are basically where we were when the fed made the rate hike. Loys weve seen the volatility go lower. So this market is really kind of waiting for a catalyst. Its waiting for something whether its hard data to show growth in the second quarter, which we wont get until next month. Or is it possibly going to be something coming out of this weeks forum from one of the key central bankers speaking there . The market is waiting, and i think were going to continue to see that waiting or treading water period whether the equities or treasury until the market gets what it wants. Liz well, phil, what about wanting oil to be stronger . This morning it was wavering, and maybe thats why we started moving lower. Now it firms up about 1 in the aftermarket session. Yeah. We have to give a little credit because when it goes down, we blame it. Also, take a look at natural gas today, natural gas exploded because of this heat dome. But i think youre right. Were hearing a lot of stories about painting the patch today. People im talking to in the industry talk about big pull backs in investment and the u. S. Shell industry like overnight. I mean with were talking dropping of millions of dollars that producers thought were going to be there. So thats a big concern for the economy. I do think there are some concerns. The bubble concerns you mentioned via. Big, big problem. Subprime auto loans. Thats another thing. Are those two things that could really drive the market. So be careful. Liz when it explodes, you get goo all over you, and we do. Everything else you have talked about, thank you so much. Scott, todd, phil, always good to see you. Were about 46 minutes away from hearing the closing bell ring. Weve got our cameras trained on capitol hill where we are awaiting that Cbo Congressional Budget Office scoring. Theyre supposed to reveal it. They gave us guidance any time after 3 00 p. M. Eastern. Were now at 3 15 eastern. The senate plan to fix the American Health care system will be scrutinized. It could be a make or break report. So were watching health care, were watching hospital stock. We are watching all kinds of insurers. Congressman ferguson is a member of the gop caucus. Hes going to tell us what he needs and what he has to hear the cbo say in order for it to become law one day. Countdown coming right back when youre close to the people you love, does psoriasis ever get in the way of a touching moment . If you have moderate to severe psoriasis, you can embrace the chance of completely clear skin with taltz. Taltz is proven to give you a chance at completely clear skin. With taltz, up to 90 of patients had a significant improvement of their psoriasis plaques. In fact, 4 out of 10 even achieved completely clear skin. Do not use if you are allergic to taltz. Before starting you should be checked for tuberculosis. Taltz may increase your risk of infections and lower your ability to fight them. Tell your doctor if you are being treated for an infection or have symptoms. Or if you have received a vaccine or plan to. Inflammatory bowel disease can happen with taltz. Including worsening of symptoms. Serious allergic reactions can occur. Nows your chance at completely clear skin. Just ask your doctor about taltz. Sfx road noise sfx tires screeching sfx horn honking daughter daddy we dont say words like that just let your love flow like a Mountain Stream and let your love grow. Liz breaking news. As we await the cbo score from the senate bill, 23 million people. Thats how many people the cbo said the house of representatives Gop Health Care bill left uninsured. Now, this leaves many to question. Could the cbo says, if its anywhere close to 23 attached to the senate plan, will that torpedo the viability of the bill all together . This as senators on both sides of the aisle are now saying rushing a vote on health care would be quote illinois advised. As ways to implement a new health care law, our next guest ran on on a campaign promising to repeal and replace obamacare, and he won. Lets bring in republican congressman representative jew ferguson who serves on the house gop doctors caucus as well. Great to have you. Whats the feeling like for house of representatives members like yourself as i know were excited waiting to see what the cbo says. What about you . Well, liz, we are waiting just like everybody else is. Were all looking at our cell phones and laptops waiting on the score to come out. So we, like the rest of america, are just kind of anxiously waiting to see what cbo says. Liz some members of the gop senate are now huddling and tweaking the bill. Theyre huddling together trying to tweak it, and i just wonder how you feel about rushing it. Because there are some people, again, on both sides of the aisle who were saying you dont have the votes right now. You can only lose two votes of two senators and anything beyond that, just dont have the votes. So if you if asked advise them to take a little bit more time and convince the no votes, like senator ted cruz and rand paul, at least they were no on friday, would you advise them to fix this so that you get a passing vote . You know, we need to move this bill forward as quickly as possible. There are so Many Americans right now that are seeing their Health Care Coverage stripped away. Theyre seeing their access to doctors denied. Weve got really good provisions in the gop bill, and i feel confident that the senates going to come through with a bill that is just as strong. One thing we know is that obamacare continues to fail. We continue to see it hurt Small Businesses and families. And most importantly, we are seeing it destroy a medicaid system that was designed to protect the most vulnerable around us, and i think that weve got to fix that. Liz apparently they are really updating, and im talking about the continuous coverage idea. And that is important because what they want to do and what obamacare originally wanted to do was encourage people to buy insurance by pencils them in some way, shape, or form if they let their insurance lapse. How harsh should the penalty be . Well, im not sure what the senators are working on right now. But obviously, waiting to buy insurance until youre sick is not good for the markets, and its really not fair to your fellow americans. Liz fellow taxpayers who have to cover you at your worst possible moment; correct . Exactly. Incas americans, we all have an obligation to, you know, buy into this system and do it voluntarily, and we need products that make sense for us. We need products that allow flexibility for Small Business owners. Most importantly, we have to to have products that only those two can have. And im confident that the gop bill and the senate bill is going to come close to that as well. Theres a lot of talk about addiction. And you come from georgia where four people died of overdoses of heroin over 48hour span. Its a problem of your state. How important is it to ensure that this epidemic continues to at least when it comes to insurance at least addiction recovery. You know, some type of opportunity to get people off the drug. Well, liz, i can tell you that addiction is a very, very tough problem that Many Americans face. Just about every Single Family that i know have faced this in some shape, form, or fashion, and there are a lot of issues that come with that. So making sure that people have access to coverage for addiction, for Mental Health illnesses, those are things that we all agree on and know should be on the bill. But i will say this i think the Opioid Crisis in america is absolutely enormous. Its tragic but the health care doesnt fix that entire problem. There are a lot of other issues around it that were going to have to deal with. Liz where congressman, we have about 30 seconds, and i know that doesnt sound like a lot of time. But go for it. Youre on the budget committee. Youre also on the infrastructure committee. Does this focus on that, on health care derail to get things like tax reform and infrastructure bills through . Well, one of the things thats very important on the Budgeting Committee is looking at mandatory spending. Right now, we currently we have a real issue with mandatory spending. And one of the things that the Affordable Health care act does do is put medicaid on the diet for the first time in history. So we have to get that done making sure we repeal the 1. 2 trillion in taxes. Thats about ten basis points in the tax code. Liz congressman, please come back. Thank you so much. Stay tuned. Were coming right back. Dow is up 36. Liz last week, Charlie Gasparino left us with a cliff hanger, telling us that there was a mystery billionaire bidder about to step up to the plate in the bidding for the miami marlins. Charlie always swings for the fences, and youve got a home run. Charlie revealing that story we broke over the weekend. We should also point out it was a mystery bidder who ties to the south florida community. Business community. And i had a sneaking suspicion it was this guy, and it turned out to be this guy. Were talking about jose moss. If it says in the banner moss, thats his father was george. Now, why are these people prominent . Theyre two of the most prominent cuban businessmen in south florida. Worth about 2. 5 billion. His father started one of the biggest cuban refugee organizations. Died about ten years ago. Left the Family Business to his son. Ran something called mass tech and a bunch of private equity timbers firms. They from what we understand, in the one of the things that makes him appealing, jeb bush, again, does not have the money. Romney has some of the money but not enough of the money. He cannot literally put down a billion dollars and buy the team. He can write the check if he has. Not saying he will. I think theres a likelihood. Liz why wouldnt he want derek jeter by his side . What we understand is this. Hes going to offer a Minority Stake to jeter and his group. I think the one problem that jeters going to have with that is that its unlikely hes going to play a Major Management role in the company in the team. That it will be jose moss call on whos the general manager, and it might not be derek jeter. Maybe we should talk derek jeter was a amazing ballplayer, former jank ease shortstop, as you know. No management experience. He may need liz somebody like jose. Or somebody like a randy levine who runs the new york yankees to run the team. Listen, i could see who knows whats going on here. Liz charlies connecting the dots. Im not saying thats going to happen. Im just saying that thats the kind of kind of guy the guy who runs the basically management knowledge. Im not saying we should point out that this this is what our sources telling us. Hes still doing his due diligence. One of the sticking points, clearly, is the amount of losses that the marlins have. Marlins are deeply in the red. And the number is anywhere between 40 on the low end and 70 on the high end. So it might be more than what people thought. They have an attendance problem. They have backloaded contracts. Some of their contracts are backloaded, meaning the numbers kick in later on. The more money you pay to these guys as their contracts go on, and that means future pressures. And then you have the notion of cord cutting. Thats hitting every baseball team. Can you sign the same big deals with the various cable providers because people are not watching tv as much; right . So you dont theyre not as lucrative. The teams dont make as much. So you have to put all of this together. Its going to take a lot to run this team. But hes a local guy. Miami kid. Father was a refugee from cuba who came to this country. Jose came to this country with pennies in his pocket and when he died, he was worth 100 million. This is an american success story. Liz turns it around and even builds it higher. Builds it higher. And liz good kind of immigrant spirit that we like to see. Yeah. And, by the way, its why this country is great because we do have immigrants that liz my dad. Your grandfather. My grandparents. I mean, thats what makes this country great. The fact that immigrants come here and build stuff. This is an immigrant success story. If he buys it, and if he doesnt, hes still a success story. But he might be the hometown kid may be buying the hometown baseball team. Well see. I think from what i understand, its likely to happen. Well know one way or the other. Liz no more cliffhangers for now, but we love it. The sad part is i dont think jeter is going to get what he wants here. Maybe a Minority Stake. You can hang out. Liz okay. Thank you you get a discount on games. Charlie, thank you. All right. Dow jones industrials up 38 points. India may be one of the poorest nations, but theyre richer than us. When it comes to the trade relationship with the United States. Closing bell 27 minutes away. How much richer . Try 30 billion. Thats the deficit we have with india when it comes to trade. Were buying more of their stuff than they are of ours. Prime minister is expected to arrive at the white house at any moment. We will bring you all of the action live as these two one of kind leaders get down to business on major issues from energy, climate change, the fight against terror, immigration, h1b visas, and more. Former u. S. Ambassador to india tim here in a fox business exclusive to discuss the delicate dance about to take place between two nations focused on the economic growth. Countdown coming right back today, were out here with some big news about type 2 diabetes. You have type 2 diabetes, right . Yes. So let me ask you this. How does diabetes affect your heart . It doesnt, does it . Actually, it does. Type 2 diabetes can make you twice as likely to die from a cardiovascular event, like a heart attack or stroke. And with Heart Disease, your risk is even higher. You didnt know that. No. Yeah. But, wait, theres good news for adults who have type 2 diabetes and Heart Disease. Jardiance is the only type 2 diabetes pill with a lifesaving cardiovascular benefit. Jardiance is proven to both significantly reduce the chance of dying from a cardiovascular event in adults who have type 2 diabetes and Heart Disease and lower your a1c. Jardiance can cause serious side effects including dehydration. This may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. Ketoacidosis is a serious side effect that may be fatal. Symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing. Stop taking jardiance and call your doctor right away if you have symptoms of ketoacidosis or an allergic reaction. Symptoms of an allergic reaction include rash, swelling, and difficulty breathing or swallowing. Do not take jardiance if you are on dialysis or have severe kidney problems. Other side effects are sudden kidney problems, genital yeast infections, increased bad cholesterol, and urinary tract infections, which may be serious. Taking jardiance with a sulfonylurea or insulin may cause low blood sugar. Tell your doctor about all the medicines you take and if you have any medical conditions. So now that you know all that, what do you think . That its time to think about jardiance. Ask your doctor about jardiance. And get to the heart of what matters. Liz breaking news. We take you to the white house right now. The marines have just stepped out in front of the entry to the white house where President Trump will welcome the leader of one of the worlds fastestgrowing economies. Hes about to come face to face with President Trump. Its the first visit for indi indias Prime Minister since President Trump took office. Modis make in India Campaign has become hugely successful since he started as Prime Minister. Just witness the 30 billion trade deficit we have with the nation. We are sure President Trump will bring that up. He and melania, the first lady have now stepped up to the red carpet. And as we watch this, you should know that modi has been considered democratic and preformer, kind of leader, but there are questions about just how much of a reformer earlier is. And no doubt certainly theyre an Indian Company that is publicly traded here that have become beneficiaries of the h1b visas, which are able to come here with special skills come here and work with u. S. Companies and then enable companies to actually, you know, do really well. They get some money for placements they have. Influx is another one publicly traded as they solute, we believe that it is probably an indication that the Prime Minister modi has arrived. There he is in the car, and we can talk over this with our guests. He is the former ambassador to india. Tim roamer. As we watch these pictures, ambassador, tell us the significance of this meeting and whether it will be warm or tensionfilled, or a little of both . Well, good to be with you, liz. First of all, this meeting has been talked a lot about in the last couple of days as being one only about chemistry. How will the two of them get along personally . I think its more than that. When big forces come together, how will mr. M odi put his india first with mr. Trumps America First . Mr. M odi wants to build in india. Mr. Trump wants to protect american jobs. Theres a way to do this. Theres a way for both sides to talk about a win, win scenario where we manufacturer things in america, and we sell them to india. It might be defense. It might be a caterpillar or john deere equipment to help with their agriculture, it might be clean, liquid gas, natural gas for their economy so they have a stronger, cleaner economy. But managing these differences and talking about where you have differences, maybe have some differences on afghanistan. Maybe have some differences on trade, maybe you have differences on climate change. Maybe our american businesses are having a hard time getting into their market. Managing those differences is every bit as important as figured out new areas to deepen this strong relationship. Liz you mentioned that we could benefit from this by manufacturing items that india buys. Not working that way right now in the way that President Trump and Many Americans would like to see it work. Meaning weve got a 30 billion deficit with them. Were buying all their products, and theyre not buying enough of ours. Well, thats exactly right, liz. And one of the things we did in the Obama Administration is the president really worked hard to try to make sure we were selling them equipment. Ge turbines made in south carolina. C17s would help india both with their defense and with their humanitarian assistance after an earthquake to be leader in other countries. Those were made in the usa. Great products made by u. S. Workers, and then sold to india, and its a wynn scenario for both. Well, have you seen some economists, front page of the economist for the most recent june 24th issue. It says the illusion of reform. There are believers that say this guy isnt really a reformer. What do you attribute that to . And donald trump sees through some of this, particularly where he felt that india was gaming the Paris Climate Accord and that we get the shortened of that stick. Well, i happen to think that whether its government to government with the United States and india or business to business, our businesses, we have a that will help them with a cleaner economy, natural gas, wind and solar equipment, things were making here again with hands and brains of americans that the indians desperately want to buy those products. So i think even on the climate issue, we have an opportunity to sell them things that will decrease our deficit with them and enhance their security. We also may hear the announcement of 2 billion worth of drones, American Drones made in san diego, california. Liz we like. To the indians. That would help them on counterterrorism. That would help them protect key asset of the indian ocean, something we want to work more and more with them on, that security domain is something that the United States and india can work more on, and that will bother china, and thats a good thing to get chinas attention on. We cant have china filling vacuums these days and taking power away from the United States. Liz we know theyre already moving to do this. As we finish up, there are two, big Indian Companies that are publicly traded. I believe is hitting a new high today. Ticker symbol infy. And this are companies that benefit when they place indian workers in america through h1b visas. So whats going to be the tension there . Theres going to be a lot of tension there. I met with mr. M odi about two months ago when i was there, liz, and this was the topic that modi got the most animated about he said americans need to be the leader in the World Economy and therefore they need to be able to bring in americans and engineering and high skill background to help create new businesses and new jobs in america. That could be that could be part of it. But we need to be sure we protect our homeland security. We need to be sure were bringing in the right people safely, and we need. Liz breaking news, and we know that we talk about this before. But now were getting so close. The state of illinois in crisis. Lawmakers right now are racing to get a budget deal by the end of the week. This is do or die. Not passing a budget could trigger a downgrade to junk status for the state. Jeff flock standing by in chicago. Weve said before they had a week here, week there, why is it now absolutely serious . Well, theyre in emergency session right now, liz because theyre starting the third year without budget and things start happening. Like this construction site im at now. Theres 700 of these Road Construction sites in illinois. They would shut down on friday, so we would start to see traffic back up, they would kick illinois out of the Powerball Lottery and the megamillions. And if that downgrade happens, bad, bad stuff. Because take a look at this. We just got these numbers from our friends at performance trust. Currently, illinois bonds because they dont have any money. Theyve got to borrow. Their bonds is now paying 4. 8 in interest. If they were a regular state, they would be paying 1. 8. So illinois is paying 3 more to finance its debt. And s p said this the unrelenting to the timely payment of the states core priority payments like schools. They would then downgrade to junk. It would be the first state ever to be downgraded to junk. Now, wheres the opportunity . Well, citibank says heres what they say. The stage credit generating and bomb crisis has covered and may present an opportunity for a bold investor. Yeah, for a bond you could get 5 . Who were the big bond holders, by the way . Ill leave you with these numbers because you wouldnt have your 401 k with fidelity by any chance, would you . Fidelity has 1. 77 billion invested in illinois bonds. Vanguard, 1. 44 billion. Dodge and cox also big dollars in illinois bonds. Cross your fingers. Thats what were doing here. Liz we do have our 401 k in fidelity. Thank god youre young and not retiring any time soon. Liz thank you, jeff. Well be following the illinois story just about every single day between now and friday. Closing bell ringing in 7. 5 minutes for all of you dusting off your grills and pulling out your beach chairs for the holiday weekend. Hold up. Theres still time to juice your portfolio before you officially kick off the fourth of july festivities. Our next guest will give us some sizzling money buys you dont want to miss. Countdown coming right back. Dow is now up 27 welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com liz need to look at rite aid. It is soaring on news that walgreens deal may get thumbs up from u. S. Regulators. Get to the nyse. Nicole petallides, have both stocks on the move. Right aide up 31 . That is no joke. That is a serious move, when you look at right aide, 31 move for rite aid. Through fridays close, liz, was down over 60 . This deal was initially started in october of 2015. But now, there are reports and tweets citing a report and we have to see whether or not it actually comes to fruition, that merger news is on its way. More likely than not to get approval from the ftc. Another name is freds. Theyre jumping as part of a deal to make it happen. Fred is one that will be moving some of those drugstore chains in order to meet regulatory approval. Rite aid shareholders cheering. Back to you. Liz i would say. Cheering, jumping for joy, backflips. Nicole, thank you so much. Crutch time on wall street, were kicking off the last week of the month, last week of the quarter. Of the where should you be placing trades before this month is done and dusted . Lets bring in Wunderlich Securities chief Market Strategist art hogan. This time end of first half, art, things moving around. They clean up portfolio. Reposition it. Buying or selling, what are you doing with your portfolios . Good question, liz. We have seen a great deal of rotation. This year, 2017 goes down one of those years where sector rotation was the norm. Not, not the exception. This is week has been no different. If you focus on, this is important. Focus on free cash flow, growing faster than earnings, return on invested capital is improving. We found three darlings in the diversified industrial space we have three opportunities. Snapon tools, carlyle and enpro. All three fit categories. Return on invested capitol and improving margins. Industrial leaders in sellingments. Not existing, something will be called a fang stock. I certainly think for investor looking for slow steady grower, looking at diversified industrials will play it. Liz snapon, 156dollar stock. Your price target is 1205 . 205. What will get it there. Snapon, every time automobile comes out with a new, format a new style, a new body, the testing equipment that goes in has to be changed. Snapon is leader going to all people working on those cars. So they out of necessity they continue to have demand. Continue to grow. Financing arm, have a great credit rating. They have done a great job returning can toll to investor as you see by the chart. Anything worry but the fact that you continue on balance, on any given day, record highs for the dow, s p, time after time after time, some people might say where is the point, where a little air comes out of tension filled balloon . We really havent seen that. See it on sector basis. Financials came up after the election. Up 22 . Gave back most of the gains. Italian banks got bailed out. Some of the things in midcycle industrials. Thinking infrastructure spend comes into place. If we get bogged down, no view toward any fiscal stimulus, by the end of 11, first part of 17, first part of 18, nothing done, no Affordable Care act, no tax cuts, that is real danger. Well slog along and work our way higher. Liz great to see you. Art hogan of Wunderlich Securities. Well off 111 points earlier. What happened in, liz. Big day in washington as Senates Health care plan out any minute. Stocks trying to make a comeback at this hour. Dow rebounding midday closing 16 points to the upside. Im Lauren Simonetti in for melissa francis. David im david asman. This is after the bell. Glad you join us. We have very busy hour. Washington on edge, ahead of cbo report on Senate Proposed health care bill. Their score how much senate Health Care Plan will