Transcripts For FBC Countdown To The Closing Bell With Liz Claman 20170727

Off topic but i want to run it by you anyway. Is the president aware of the story of the staff who worked for the florida congresswoman who was recently arrested attempting to leave the country. I they aware of that particular circumstance and is he satisfied with the pace of the investigation. I have not had a conversation with him specifically about it. Its something we should fully look into. And there should be a thorough investigation. If to make it count. He wrote into family members. I want to extend my sincere apologies. That was inserted into the jamboree. As the president there. I was at that event and i saw nothing but roughly 40 to 45,000 boy scouts cheering them on. And i think they were pretty excited that they were there. And happy to hear him speak. [indiscernible] a lot of them had expressed frustration in the need of that. I was at that event. And i heard nothing but a lot of cheering and probably one of the most energetic crowds ive seen in front of the president. I have not seen a statement from the boy scout so i cant comment any further than what i saw firsthand and that was a lot of individuals. Cheering the president on. The first one will be there. They are here to violate the guidelines. And secondly they were reporting that the senate rakowski received a phone call threatening the services that were spent for that. Towards the people of alaska. They it they voted to start my own health care bill. Can you talk about whether that has happened. So it keeps it somewhat fair. Im not going to speak about conversations between ken cabinet members. They havent had a chance to talk to either individual about it. You talk about the president. [indiscernible] do you think they at least need to sit down and talk and get whatever this is out of the system to get off on the right foot here. I dont know if he is an opinion on what they should do it between the two of them. The president has always enjoyed healthy competition and conversation. I have to wrap up here. The president is ready to do an event i just want to leave you won one last thing before i close out on an important development. You guys love to talk about russia and there has been nonstop coverage and the one day there might have been a question on russia there wasnt. We have a lot of media with russia first today there was public testimony that further discredit that. It has been the source of so much of the fake news. We learned that the firm that produced it was also being paid by the russians. It indicates what the president has said its a shame that the president and the country had had to go through this charade continually and hope this will help us move forward in this process. With that thank you very much. She just mentioned something that happened on the hill. Apparently the socalled dossier which was to reveal some sort of horrifying accusations against President Trump when he was a visitor in that country has been discredited but she also for our business audience does the president feel that the tax reform peel should be revenue neutral. We will release more details as they come. What we do know that we can tell you is that they just released the tax plan is missing in the Controversial Border adjustment tax. We are about to get more detail on all that. You will hear everything a thing he has to say. She also talked about the ban on the transgender soldiers. The present has made it very clear he is disappointed in him. And of course the fight against the deadly gang ms 13. This all comes as i said as President Trump get set to honor specifically the heroes of that june 14 attack on the House Republican Baseball Team practice that left the House Majority whip Steve Scalise. We will make sure that we would take it when the president comes in. We are keeping a laser sharp eye on wall street. In the last few hours things have gone from rosie to mostly read. After hitting alltime highs all three indices earlier the stocks are now pulling back. On tech stocks in particular. They were on track for the 45th record close of the year. It is falling 64 points. I happen to be down hundred and four. Were not quite there yet. We cant ignore the transport. They too are down at the moment 341 points. Its a big percentage for any index here. This is all happening just one day after the volatility if fear index hit its lowest level since inception. It was below nine right now it is at ten so its moving a little bit higher as there appears to be more concerned. Extremely complacent yesterday. And copacetic they are. Some call that a top of the market in time to sell. Looking at some of the biggest movers facebook crushing it while twitter is taking facebook is up 3 as shares of the brain child hit a record high after reporting up 50 jump in secondquarter mobile ad sales. Both investors and not just like it but they absolutely love it. I list 12 of them had boosted their price targets on the stock. The stock right now is a hundred 70. When you two wins equal a loss. When you are twitter or a twitter shareholder. Revenue and earnings that actually beat analyst expectations why is a stock down 14 . Despite having the most powerful person in the world is a lower loyal user. They delivered zero growth in the second quarter. Twitter is now actually using losing monthly users in the United States. They jumped about 40 in anticipation that they would figure something out. There is some activity there in the white house at the mine. They are set to on our five of the First Responders we will bring it as i mentioned the minute it comes out. Breaking news that wrapped up a short while ago. It was blake burman standing by there were a lot of things they will have really just popped up in the last few days. And the president taking on to twitter to humor him where the transgender issue which is very opaque and unclear right now. As to how they would effectuate that. What jumped out at you. It was a major statement i that was just put out. And four of the top members. There were two pretty big points that we had been following for quite a while. The possibility of that is that at this point. It was the timeline up all of this. Weve been hearing the tax reform legislation would come in september late september or maybe even october or even eventually in december. Either way earlier today the Vice President made the guarantee that it will happen this year. The discussions and negotiations will continue. Details will continue to be worked out. But rest assured we are going to cut taxes and we are to cut taxes this year. Also from that briefing. In tax reform. As a White House Press secretary was asked if the president said there was confidence in his very own chief of staff. They like healthy competition. In other words in other words it wasnt i guess. We know that the battle is going back and forth here at the white house between Reince Priebus preibus in the new communications director. They say sometimes it can be just that but in this occurrence we are talking about the chief of staff. It really looked like he put the vice grips on reince preibus. When he refers to them as brothers tend to battle. We know how that story ended. Standby i need to go there. Moments ago he discussed an amendment and they voted on this amendment offered by senator steve daines on a singlepayer they wanted to do that so they could get democrats on the record about single payers it was rejected later. They will move them closer inch by inch the voting is expected to take hours. And it may go into the wee hours of the night. Foxbusiness will be on it as long as we need to be and of course the healthcare insurance situation the skinny repeal they hate it. The specific proposal to illuminate the mandate to buy insurance. Giving people cheaper options. But americans have a huge large lobbyist company. They wrote a second letter now to Senate Leaders say mess. Policies that do not stabilize the market and simply drop incentives for people to buy coverage will repeat what we have seen in the past. They will rise rapidly. And no affordable Coverage Options will be available. Then we have this. You know i had been on a rampage on this. Blue cross blue shield said a system that allows people to purchase coverage only when they need it it drives up costs for everyone. Not if you give them a skinny bundle. They will find something to hate about everything. And continue to make money hand over fist. What we see those concerns. Adam shapiro is on capitol hill right now. It is about medicaid also. Once that amendment the amendment is offered. Most likely after midnight this evening. Theres three big issues here. It would repeal the mandate for individuals to buy insurance it would also repeal the mandate on employers in some cases to provide insurance. It would repeal the medical device tax. It would be gone. And it would also defund planned parenthood. There is a question to the defunding of it. The leadership says yes. There was a version of this in 2015. It would be used and would be compliant. Here is what he said. About the need to pass not only the amendment but then send this to the house. Eliminating those mandates would be a significant step and i think there may be 15 republicans they are confident they will get passage. We have Lisa Murkowski who is saying shes not exactly committed to know. We just want to let everyone know. He is the alabama republican also the trump attack on his best friend in the senate the fellow albanian Jeff Sessions that is about 20 minutes. In the meantime they are awaiting the president. A very quick commercial break. Dont move we are coming right back. Back on june 14 the Republican Baseball Team practice which was just a tragic situation and lets listen in. Welcome to the white house. And welcome to americas hero week. One month ago today america woke to shocking news that a gunman have opened fire on a baseball diamond just south of our nations capital. In the wake of that horrific attack our nation was deeply inspired by the heroism of americas First Responders and we celebrate that today. Today President Trump will pay a debt of gratitude to the men and women who inspired the nation that day and all they represent. This week good news. The nation rejoiced with word that congressman Steve Scalise was released from the hospital. Comic and steep i steve i know you are watching so let me say we are inspired and relieved by your recovery. We are especially honored to be joined by your wife jennifer. [applause]. I know i speak for the president. Jennifer also wanted me to recognize to medical professionals. From the very moment he arrived at the hospital. A medstar. Of medstar Washington Hospital saved lives and we are honored by that. [applause]. Here on americas heroes week. To honor five truly remarkable americans. Without regard to their personal safety brush in harms way and prevented an even Greater National tragedy join me in welcoming five american heroes here to the east room at the white house. [applause]. Officer alexandria jensen. Officer nicole of the Alexandria Police. [applause]. Officer davis bailey of the United States Capitol Police. And officer krystal breiner of the United States Capitol Police. [applause]. As you will hear more in a moment these five officers exemplify the best of Law Enforcement in this country. And they honor us by their presence today. Before we welcome the president would you just join me in showing one more round of applause to five remarkable americans and all the men and women in Law Enforcement that they represent. Here at the white house. [applause]. [music] ladies and gentlemen the president of the United States. [music] [applause]. Please sit down thank you. And thank you to Vice President for doing a fantastic job in for the introduction we welcome you all members of congress into english guess we are gathered here today for a very special occasion as we pay tribute to real heroes who screen just actions saved some lives just six weeks ago. On the morning of june 14 several members of congress began their day on the baseball diamond practicing for one of this towns greatest traditions the annual Charity Congressional baseball game. It is just another beautiful morning until the unthinkable happened the familiar sounds a baseball were suddenly interrupted by loud, vicious gunfire. Matt Micah Zachary boss in beloved congressman Steve Scalise were each shot others were injured trying to evade the incoming bullets of which they were many. Fortunately from the moment that gunman began to shoot he was met by returned fire. Capitol Police Special agents david bailey and crystal greiner race through the bullets and thats exactly what they did. They raced through the bullets. And immediately engaged the gunmen minutes later members of the Alexandria Police department arrived on the scene officers and cavil jones and alex jensen joined the fight special agent greiner was shot in the leg a visitor in the hospital. And shrapnel injured. As bullets swirled all around him. Despite the injuries both officers heroically continued to face down the gunmen until they brought them down. They had rifles and handguns. Its a big difference these officers saved the lives of every innocent person on the field that day. Many of them friends of mike and myself and they are american heroes and we salute them. [applause]. [applause]. That is so beautiful thank you. We also salute the members of congress who acted with such bravery in the face of danger shielding each other and carrying for the injured. We honor today the emergency dispatchers who directed the First Responders to the scene within seconds. They really acted quickly i also want to thank the people from the fire department. For providing lifesupport in a crisis where every second mattered. Enqueue for what you do and what you did that day. And every single day thank you very much. We also express our deep appreciation for the paramedics doctors nurses and surgeons from medstar Washington Hospital joining us today is his medical team joining us today is his medical team the director of trauma. The director of orthopedic trauma. There were a lot more worried that night at the hospital that night. With the gratitude of the entire nation. Thank you for caring for the victims and for your dear friends. He is our dear friend. He is a fighter. This week he was discharged from the hospital and is now beginning weeks of intensive rehabilitation at an inpatient facility he will recover we are praying for him and we are pulling for him and we are sending his family our support and our love. Steves great wife who have been to know jennifer is here with us today. And we applaud the strength and courage that she has shown throughout this incredible ordeal. [applause]. Other americans responded to this tragedy in ways that remind us how much stronger we are when we are united. When the congressional baseball game was played at just one day later nearly 25,000 people turned out. Its all but also by far a record. The citizens of the home parish. They donated his blood at the congressional blood drive. Thank you mike. [applause]. Just recently has republicans and democrats introduced a bill to provide support to Capitol Police officers they had been looking at this for a long time. You can tell steve that he pulled it off. It is better than being a whip. I hope it gets to my desk soon i will sign it immediately. The assault on june 14 reminded us that eagle evil exists in this world but it also reminds us that heroes walk in our midst. The result is stronger than ever. We praise the Law Enforcement they are being tough with tremendous integrity i just want to thank Law Enforcement. [applause]. I can only tell you from the Campaign People love you give great admiration so just remember that please. Today i am am deeply honored to present our highest award for a Public Safety officer the metal a baller to special agent crystal greiner and david bailey the metal a baller is reserved for those who go above and beyond the call of duty as each of these men and women did that on that fateful day and they did it with great courage and they did it with instinct. When our human instincts tell us to run there is danger the police and First Responders run history added. Standing in the breach protecting the innocent and keeping our love one saved. Now i would like the military aid to read the citation as the Great American heroes step forward to receive the metal metal of baller presented to the u. S. Capitol Police District of columbia. For bravery and composure despite being been shot she placed herself in mortal danger to save the lives of members of congress at Eugene Simpson memorial park. [applause]. Special agent david bailey. Middle of baller presented to the u. S. Capitol Police District of columbia. For taking brave and Decisive Action to subdue an active shooter. Special agent bailey was shot during the exchange of gunfire but continued to advance the shooter without benefit of cover until the active shooter was subdued saving the lives of members of congress and attending family members in Congressional Staff. [applause]. The officer nicole battaglia. Middle a baller presented to officer Nicole Bagley a. For demonstrating extraordinary courage in saving the lives of two u. S. Capitol Police Officers. Members of congress, their families and Congressional Staff. The officer engaged the assailant exchanging gunfire at close range and ultimately neutralizing him. [applause]. Officer alexander jensen. Metal a baller presented to officer alex jensen. The Police Department virginia. For swift and valiant action and responding to an active shooter. They put themselves in harms way during the active shooter situation. Drawing fire from the assailant. And that in that they were to deal. And the members of congress, their families and Congressional Staff was insured. [applause]. Officer kevin job. The metal of baller presented to officer kevin job. Alexandria Police Department virginia. For placing himself in grave danger to protect two u. S. Capitol Police Officers and members of congress their families and Congressional Staff. They engage in an active shooter. Neutralizing a volatile gunmen and preventing further injuries to innocent bystanders in the park. [applause]. [applause]. Very brave people very great people. Congratulations to all of you we are forever in your debt. Think you bless you. And god bless our truly amazing Law Enforcement and god bless america. Thank you very much. They ran through bullets. They are praising the drapery of the two Capitol Police officers david bailey and crystal greiner. They took multiple rounds of fire. Very big honor with the metal of dollar for them. They had been taking hits on twitter from the president for days now is finally speaking out exclusively to Tucker Carlson who just had a sitdown interview with him can you guys come back to me for a second. Tucker just got a huge interview with Jeff Sessions the attorney general and whom the president has a very clearly said since the beginning of the week he has disappointed in the attorney general. He have recused himself from the rush investigation. Lets listen to what they spoke with Jeff Sessions about. You see the present criticism of you. Gets fair. It is kind of hurtful. The president of the United States it is is a strong leader. He is determined to move this country and that away that he needs to go. They have a lot of criticism and is steadfastly determined to get the job done and he wants all of us to do our jobs and thats what i intend to do. Putting on a brave face. We need to tell you that the interview was done obviously very quickly there. They were in el salvador with the attorney general. It was going after the ms 13 gang members who basically began there. They migrate to america and caused discussed in the horrible had it. But the full interview will be on Tucker Carlsons show. There has been so much happening less not forget that. Most important to you our Business News audience. The big six making a major announcement. The heatedly debated border adjustment tax is officially mia. It has been removed from the tax plan that was just floated by the president and the big six republicans also promised legislation on tax reform and that it will come in the fall. Charlie we will look at the market also. They have come back up off of the lows. This is more than a hundred points. It has been down 23. Up to 79. The Senior Advisor to President Trump is pushing for an upper income tax increase. Maybe bringing up. To 44 . They will be pain and effective tax state and local taxes. It would be really incredible. That is why the markets arent positive and more about getting rid of that. That was a tax those very controversial. A lot of people thought it would stop tax reform from being passed in the house. Youd think it would be smooth sailing. Its not smooth sailing. Just for you the average viewer trying to figure out how to play this with your portfolio this is not a good time to be making those decisions. The traders that i speak to. Our increasingly skittish about not just the lack of clarity on tax cuts. On the white house this function. Reince preibus is considered at least a marginal negative on the markets civic the sort of drama between him and scaramucci it is starting to bleed over like what was going on over there. What has it taken four days since he has gotten that job as have of communications. A lot has become about him. I just went to kick this to the markets for a minute. What you have here. This dysfunction about him is now starting to bleed a little bit into markets. We dont see a lot of clarity on taxes. The congressional leaders they are all trying to get together to figure out what theyre gonna do in terms of how big that Corporate Tax cut is. They are saying it should be 20 to 25 . The huge unknowns. With the state and local deductions. Well that be kicked out or well that be zeroed out on the tax form. We hear tom curran is against that. He wants her in there because he thinks its good for private equity to have that benefit so they spur economic growth. I will tell you the dysfunction in the white house in terms of leadership is making people believe that. Three brandnew record closes. Everybody is expecting no matter what the trigger is. And what is the trigger. The corporate earnings are pretty good. That is the main reason while white stocks are up. He is starting to breed into the investors. We all know from here and would like him. My guess is that the president is telling him to do this step. He wouldnt go rogue i dont think. The Dow Jones Industrial is up 58 points. But we do have a struggling nasdaq s p. It sure is nice. Like facebook did last night. It is not highfiving all over the place. One of the social media giant projects. They might be just same to Mark Zuckerberg i told you so. The latest chapter count on is coming right back. Ence unparalleled luxury at the lexus golden opportunity sales event before it ends. Choose from the is turbo, es 350 or nx turbo for 299 a month for 36 months if you lease now. Experience amazing at your lexus dealer. Everything i did circled smaround that cigarette when i started taking the chantix that urge just slowly diminished and it was a great and empowering feeling. Along with support, Chantix Varenicline is proven to help people quit smoking. Chantix reduced my urge to smoke. When you try to quit smoking, with or without chantix, you may have nicotine withdrawal symptoms. Some people had changes in behavior or thinking, aggression, hostility, agitation, depressed mood or suicidal thoughts or actions with chantix. Serious side effects may include seizures, new or worse heart or blood vessel problems, sleepwalking or allergic and skin reactions which can be lifethreatening. Stop chantix and get help right away if you have any of these. Tell your Healthcare Provider if youve had depression or other Mental Health problems. Decrease alcohol use while taking chantix. Use caution when driving or operating machinery. The most common side effect is nausea. I dont even think about cigarettes anymore. Ask your doctor if chantix is right for you. Many insurance plans cover chantix for a low or 0 copay. We cut the price of trades to give investors even more value. And at 4. 95, you can trade with a clear advantage. Ll always be. Liz not a lot of fear in the markets today, even though we are off earlier highs for the s p and the nasdaq. Right now the nasdaq is flailing a little bit, down 47 points. It had been a killer, gotten killed earlier, down 104. Also been up 38. As we dive into the final minutes of trade, want to look at Technology Giant amazon gearing up to report earnings after the bell. Going to be a big one, nicole. Reporter amazon moving to alltime record high today, and that was 1,083 only to sell off at one point with all the tech stock, now down 71 2 dollars. The traders are going to want to know whats going on with whole foods. Likely to hear questions about that on the analysts call as well. We know that trump has been on the attack with amazon, is it getting too big . In the meantime we want to hear about sales and Cloud Business and video and all of that as well. So well watch for that overall. Were watching for 1. 42 a share and the revenue of 37. 1. I will say theyve been on the beat streak, good way to say it . Last eight quarters have been a beat, and its a record high though it pulled back. Liz whatever they say is going to scare about seven different sectors, they are in so many different once. Nicole. Thank you. You want to sit down and im being totally serious. If youve always been worried or skeptical of Artificial Intelligence creating what some people like elon musk creating killer robots, well, right now these killer robots have just started to pick up a weapon. We got unsettling news today that facebook researchers had to pull the plug on an Artificial Intelligence system they created because these bots created as they began to grow and understand each other their own language with secret codes, it was giving up on most understandable english, using secret codes to communicate that creators could not understand. They pull the entire project, killed it. This as the billionaire nerd wars heat up between facebooks Mark Zuckerberg and teslas ceo elon musk, duking it out over a. I. Or Artificial Intelligence, quote, irresponsible, while musk slapped back calling the facebook ceo naive about the potential of killer robots. It is a robotic bullbear debate about this. We bring in gerber kawasaki ceo and chief Market Strategist to be the tie breaker art hogan. I find this disturbing, facebook loves to be in front, to kill a project which they truly invested is worrisome. How do you read it, ross, of whats happened . I read it as probably insecure what might happen because there are so many inefficiency in the human mind if computers take hold of language, the english language doesnt make a lot of sense, one of the harder languages to learn. The computer said maybe well make a better one, it scared everybody, and i dont think we want to, you know, underestimate the potential terror because currently, our military is actually building a. I. Drones that will be able to kill off targets without any directions from humans, and so, you know, were moveingly in this direction and we all grew up on terminator and robocop, and you know, its coming. Liz youre siding with elon musk, get to mark, you feel that Mark Zuckerberg is very forward thinking, and hes out there, the big entrepreneur, always ahead of the game. Are you as concerned as apparently the facebook people are now . Well, look, you know, elon musk has a company that never made a profit in tesla. Lost 2 billion. Zuckerberg, his company is worth ten times more than musk, and elon musk believes were living in a Virtual Reality and none of this is real to begin with. Liz nerd wars. I work with main street investors. I can get my kids to college . Do i have enough money to retire. Own equities, diversify, rebalance, stay focused for the long term and let the nerds battle it out in the media. We got bigger things to worry about than Artificial Intelligence taking over. Dont you think it affects main street . This is about losing a lot of jobs, this is about the change of our culture. Main street should be really concerned. 80 of main street jobs can be replaced by computers. This is a major issue we need to think about on a societal level. Liz and elon musk said a. I. Is a fundamental risk to the existence of civilization. That may be hyperbolic. Art, this is a growing sector and real opportunity. You get to be the tiebreaker here, are you as concerned as elon is and coming up from the rear, Mark Zuckerberg or researchers . Ill tell you this, elon musk coming from a place where Artificial Intelligence is not one of his core competencies, he wants to build a way to get from new york to washington in 29 minutes, hes going to make a profit selling and hes going to make a lot of great batteries. This is something that facebook is generations ahead as is ibm and lot of other Artificial Intelligence Companies Getting involved. I dont think thats accurate. You cant run away from the future, this is something thats going to evolve to make us more productive. What about the a. I. Car hes building . Liz theres a tech wreck going on today. Were at record highs. Mark, do you shed tech if you are getting concerned . No, we dont really focus on tech, obviously we have tech in the portfolio. We focus on microcap stocks, value stocks and International Emerging market stocks up 23 , double the s p this year, small International Stocks up 22 . You got to be globally diversified and dont get focused on one sector. Thats dangerous. Thats dangerous for Artificial Intelligence. Liz we hit the closing bell, gentlemen, thank you. The dow punching up 85 points, jumping exponentialliesa the closing bell rings, amazon off the bat. David what is going on with the markets . After it looked like it was going to swoon, another record close for the dow. Celebrating a brandnew alltime high for the second day in a row. It may trend higher as we finish in the close. Stocks getting kicked around on the s p and nasdaq after an early boost from facebook and amazon with the tech high losing a little steam today. Hi, everybody, im david asman. Melissa im melissa francis, this is after the bell. More on the big market movers. Heres what else we are covering during this very busy hour. Feeling the heat on health