London with reaction the day after. Charlie the reaction is one of trepidation, celebration. Lets go to the trepidation first. This wasnt a resounding victory for the leave. It was 5248. But to leave the eu did not win by an overwhelming margin. A lot of people are worried about the future and worried about jobs and all the stuff they have been hearing about from the established politicians and the established media that this would lead to an economic downturn. The celebration is the other side. And obviously thats 52 of the vote. What they are saying is this is a chance for britain to take control its sovereignty, leaving the eu, leaving the fact that they no longer have to answer to a bunch of bureaucrats in brussels is a good thing. They can enact their own tax policy and it will more than make up for the handouts with a lot of british financial newt and thatcherrism. This mr. Play out for the weeks, months and years ahead. The u. S. Markets will decouple from this in a couple days. But from the story here, what leaving the eu for the uk. For the pounds and european and global stocks, it will go on for a long time. Charles back to the u. S. Markets. It all has to do with this uk voting to exit the eu. For a longerterm drop, the happening here . Will this continue going into next week . Joining me to hash it out, Matthew Sweet and david nelson. A little bit of a sign in the uk today the tomorrow google searches up 500 . What does it mean and what else the eu . Emotions driving the vote and emotions in the markets today. Will those emotions subside over the weekend or should we break for a down side. This is have much a situation where the uk is probably from an economic stands point the biggest loser in this situation. I think this benefits the United States. Charles david in. I think the big loser is europe. They just left a very struggling team. They are a free agent, they can trade with anyone they want. This is a great message that overregulating is not wanted. They dont want autocratic demands coming out of berlin. Charles what about the markets monday . You will have to be selective. At a minimum the United States looks far more attractive than other areas of the world. You will see more money coming to these shores and that could be a positive. We had 52week highs on the u. S. Markets. Overall our markets got nicked pretty good. I hope matt is correct. These events usually last a few days. But to what you were just talking about, there were a lot of new highs in utilities. Defense stocks were pretty much flat on the day. There are things you can do. But we are going to have to work our way through this. Charles is that what we are talking about . Do we want to be sow m d d do wo myopic. The ones beaten count most might be the ones to buy. We look for longterm opportunities driven by income. If you want to go into the belly of the beast and look at the uk, a lot of companies have u. S. Adrs american depository receipts. Bp and Royal Dutch Shell are great buys with 7 yield. Oil obviously we have come off the bottom and brexit dont impact that. Charles but brexit has an impact on the dollar. A high dollar is not a good play right now. If you are looking to invest for the next 2, 3 years, these are lows. Charles we are dealing with an American Public that holds stocks on the average 3 months. I think the idea is i think the dollar has got to pull back. This spike was huge. But if you pull up a twoyear chart it made a series of highs and lows. Whats going to be the main mover of the markets on monday . Will we just react from your overseas markets . Monday is the day. I think monday is what is their initial response. I wasnt impressed with the tough response this morning. Not one that instilled much confidence. He essentially said life is hard, well figure it out. No vision, nothing that would ever sort of inspire people and confidence. Charles the eu is in an awkward position. This is the second largest economy. But there has always been a deficit of leadership in the eu. Thats how we got to this place. You said you think the uk is a winner. Charles if the uk goes on its own, implements a free market system and starts to shed regulations, all of these other countries would say, people are holding their meat to the fire, then they see People Holding their meat on a stick. They say look what they are doing. Maybe that can give rebirth to the entire continent. The people sent a message to bureaucrats and regulators, lay off. Charles ultimately the people under their thumb will be able to look abroad. I think this is a decent wakeup call. At some point some of these politicians are going to have to listen. Charles it was 5248. Young people voted overwhelmingly against it. For the entire population we need to get it on board. They will have to know. The welfare systems have been in place for a long time. Britain will not be last to exit. And they will have to get ahold their entitlement programs. Charles we just saw the greece drama. They are implementing what they call austerity, but its not austerity. The real sort of pain that you have got to go through to get out of these situations, i dont think any of them have the political will to do it. Its based on the concept of Free Movement across borders. What you saw in the uk, 2 million migrants where cameron said it would be 650,000. So thats what needs to be charles i think the media was too focused on middle eastern migrant. I think this goes back to 2004 when the eu even larged itself by 10 nations. Czech republic, estonia, malta. When they let them in they created a cheap workforce that bum rushed the uk. It has a huge parallel in the United States. And its playing out in our elect cycle as well. Its a situation where you have a stronger division between the upper and lower classes going on. You have terrorism going on between both continent, and a stock market that keeps going up. So a population of people not feeling anything today. I feel this was an emotional decision. Not purely economic. It was economic in the sense what drove those emotions, a sense nothing is working anymore. One poll that was taken. For people who voted to leave, they thought these were bad things. 81 thought multiculturallism was bad. 80 . Social libertarianism. The green movement. Bad day for them. Globalism, 79 . The internet, 71 say it does more harp than good. Capitalism 71 . It explains the Bernie Sanders phenomenon. Charles war is happening doesnt work. He generation lives longer than previously. We hit a wall in the u. S. Here is the thing, david. I dont know what the best answer is. Sort of row plan d sort of roma. If a company in britain has a great drug and people in france want to bite, they are going to buy it. Charles but where you make the drug will be the argument. We do it 510 years down the road, england will be trading with the continent. Im bullish on the uk. You have got the uk on sale. 10 devaluation. When we declared our independence a lot of people said you will be sorry. Thats a strong parallel to what we are seeing. Charles its a romanticizing yesteryear that i dont think we can repeat. The brexit had impacts worldwide. Charles fox business adam shapiro is live in germany. Reporter Angela Merkel issued a statement at about 12 30 in berlin. She said on together will the eu be able to assert it interest in the world and she says she deeply regrets the breaks it vote. Its interesting to note who holds the cards, who holds the power in the eu. The president of france will come to germany to meet with Angela Merkel and the summit in brussels with the different leaders of the eu nations. When you speak to people here in germany, all of them that we spoke to said they were shocked, and surprised the uk would do this. One of them was the coceo of the berlin stock exchange. The germanstock index closed down about 7 . But they said the markets performs as one would expect under these circumstances, a woman we met was from scotland but lives here in berlin with her husband. She told us she was outright shocked. Take a listen. If we had had the sound bite, you would have heard her say that she would have expected, she is from scotland, the uk to stay in, but of course they voted not to stay in, scotland did, that raises another bag of issues. But here in berlin, life goes on, we spoke to one man from hamburg. He says its good for the uk and bad for germany. Charles germany has taken in the most migrant and they are expressing shock at their very own policies in the uk. I find that to be interesting. Reporter have you been to berlin . Its a wonderful city. You need to come visit. I think people here enjoy their life in germany. We have spoken about the immigration issue. They did take in 1 million refugees. The open dyers not quite as open as it has been because the population began to reject that after the incident in cologne over the holidays. And the government has declared countries like morocco, tunisia and algeria are safe countries which makes it more difficult if not impossible for people from those countries to get refugee status. Charles i do like berlin more than paris, for the record. The british vote to leave the eu leaves markets plummeting. There are two billion people who dont have access to basic banking, but that is changing. At temenos, with the microsoft cloud, we can enable a banker to travel to the most remote locations with nothing but a phone and a tablet. Everywhere where theres a phone, you have a bank. Now a person is able to start a business, and employ somebody for the first time. The microsoft cloud helped us to bring banking to ten Million People in just two years. Its transforming our world. Charles british Prime MinisterDavid Cameron announce his resignation. This has Financial Markets plummeted. The road ahead still unclear. Now that the uk voted to leave the eu. Rick, i know you were in a camp that wanted them to vote leave. It was a strong victory for them. What happens next . We have 28 countries in the European Union. What we have seen over the last 5, 6, 7 years is a serious difference on immigration, economic policy. So the difficulties that the eu has had has caused them to have the lowest common denominator of a policy and that never benefited the british people. The british always tried to make the policy tougher and they have always been on the losing ends of that. I think now what well see is a stronger great britain. They will have a stronger border system and economic policy. Charles the economic policies, they still have universal healthcare. They have things that are antigrowth that cost a lot of taxpayer money. Are necessity going to be able to shift into to free wielding, Free Market Society . No, they left of the United States, for example. But the financial craziness and the panic will wind up looking like y2k in a year. Britain is a rich country and they bring in a lot from europe. Also, the Financial Markets in england which bring in billions of pounds are going to lose a lot of red tape they have gotten from europe. Despite the European Union taking credit for the Financial Markets, those boomed under margaret thatcher, not under the European Union. Charles the folks in the Financial Sector overwhelmingly wanted to remain. Of course the pounds getting slugged. Where does this leave the Financial Sector . Because thats one of the strongest areas for that nation. It leaves the Financial Sector in a great position. The United Kingdom has had a world leading Financial Sector for over 300 years. The city has been around for an incredibly long time. One effect of the brexit vote is its going to discourage the city from excessive focus on europe. It will encourage them to look into the wider world, into africa, india and asia and develop even more than they already have, new markets to diversify away from an unhealthy reliance on europe. Charles rick, it was a tight vote, less than 4 percentage points. Who is the right person to navigate and make sure both sides are on the same page without a lot of resentment or bitterness . Whatever way the vote went, it was going to be close. So the losing side is going to be extremely disappointed. The winning side will have to think about that. The losing side in this instance, they are truly losing their european identity. And so thats a big deal for, i think, fatism for those who looked more to europe for their patriotism. I think what the winning side is going to have to do is emphasize growth quickly. Jobs, security. Certainly we know that all of the banks wanted the vote to remain, and thats because they wanted the status quo. This to me was a big vote on status question. So the winners will have to show change is good. Charles the 1824yearolds, 60 voted to stay. So the older folks will have to show them why this was a great vote. Donald trump says british citizens used this vote to quote take back their country. And hes comparing it to the United States. Its here, but its going by fast. The opportunity of the year is back the mercedesbenz summer event. Get to your dealer today for incredible onceaseason offers, and start firing up those grilles. Lease the cla250 for 299 a month at your local mercedesbenz dealer. Mercedesbenz. The best or nothing. The United States wants a strong United Kingdom as a partner and the United Kingdom is at its best leading a strong europe. It leverages uk power to be part of the European Union. Charles that was president obama back in april, pushing for the uk to remain in the European Union but voters there obviously, not listening to the president. Political ramifications are sure to play out in america in upcoming elections. Take a listen. I brexit, when you talk about leave, you, i felt again, knowing the people here very well but not wanting to get involved but i felt that was going to happen. I felt it was going to happen and there was grit similarities between what happened here and my campaign. Charles so could Donald Trumps white house efforts actually benefit from the decision in the uk . Joining me now, jessica tarlov, gina loudon and steve rogers. Gina, no doubt it was a terrible week for president obama for number of reasons but how good of a week was it for donald trump. It was really good week with donald trump. He opened with the amazing speech. Here is the exciting thing as senator sessions pointed to today, british change often proceeds what happens in the u. S. As we saw with thatcher and reagan revolution. And you know, i think societies have to pick. They can be great, charles, or can be safe. Today, yesterday, britain picked great. And americans miss greatness. That is why this is for shadowing after win for donald trump because i think there is very little about hillary says to you, greatness. But donald trump, we see what he does, see what he built and we think greatness and we want it. Charles jessica, you kind of smirked there. What is going on . Implication i would think greatness in donald trump what made me smirk there. I love gina. Charles, opening one of the worlds most impressive golf course. He should stick to that, try not to be my president. Charles you would agree themes echoing throughout the uk and western world echoing in this country as well. 100 . This was not a great thing for president obama. I dont think he should have been campaigning staying first place. It was not our place. Charles how badly will hurt hillary . Not that badly. Charles scale of one to 10, three . Like a two. Charles two. Steve, before i get to you read Hillary Clintons statement to the audience because she chimed on this as well as president obama. Quote, we respect the choice of the people of United Kingdom. That the United Kingdom have made. This time of uncertainty only underscores the need for calm, steady, experienced leadership in the white house to protect americans pocketbooks and their livelihoods. Going back, steve to the underlying theme for everything she talks about will get back to temperment. Whether economy, safety, no matter what it is, tried to allude to it once again with the statement. Amazing how the establishment politicians can continue to try to tell us how we should live. We are in the midst of a worldwide rebellion against the establishment. Hillary clinton represents the establishment in the United States. Just like uk, the decided to leave to get out of the European Union, i believe that the American People are going to send her walking come november. Donald trump called it and this is going to help him immensely. Charles i will say one thing, gene that, the demographic makeup is different in the uk than america. That works to Hillary Clintons advantage. I think, if im in donald trump camp, phenomenal week but you have to find a way to leverage it beyond your core voters if anything, charles, the bent in europe generally is more leftist and more socialist. So the fact that they could stop, recognize where they are and remember what they could be, i think it is actually more encouraging because i think there is a gritty individualism in the United States that is going to prevail and favor trump. But also this, hillarys comment she pointed to is exactly descriptor to distinguish between what the left does with a little bit of lack of assuredness and what the right does. Hillary sounded morose in that quote, where a conservative sees opportunity and gets excited. That is the difference. Charles what about that, jessica, renewed optimism as a theme to bring america back . I think it is great thing. I think actually both candidates are talking about optimism, talking about revival of the american dream. We need to know who has the best policies to accomplish that. That is firmly in hillarys camp. Gina went on to talk about leftists and socialists. Were talking about diversity, people of color. Uk is not as diverse as we are. We know minority voters overwhelmingly prefer hillary clinton. They will turn out. He is 90 unfavorable rating with blacks and hispanics. Charles we have to go. Hillary and obamas policies failed minority. Why do minorities voters overwhelming approve of that. Hillary represents the worn out past. Donald trump represents hopeful fault ture. That is not the future i hope for. Charles urban versus rural like in middle ground, like suburban housewives could come down to them. Coming up stocks reeling over the uk vote i have my market commentary. I shared a special report with you yesterday. Well update it. Well talk about the dos and donts and not to panic. Well be right back. Charles stocks around the world reeling today after that uk vote. We were not left unscathed either. Heres the thing though. There are some opportunities. I asked my dentist if an electric toothbrush was going to clean better than a manual. He said sure. But dont get just any one. Get one inspired by dentists, with a round brush head. Go pro with oralb. Oralbs rounded brush head cups your teeth to break up plaque and rotates to sweep it away. And oralb delivers a clinically proven superior clean versus sonicare diamondclean. My mouth feels super clean oralb. Know youre getting a superior clean. Im never going back to a manual brush. Charles well it was a tough session for the market. Believe it or not the United States market still one of the best performing in the world. Dow jones industrial average was the best of our large indices as money flowed into the quality names. In fact the new york stock exchange, there were 138 new 52week highs. Only 48 at new lows. 81 of stocks were down, lets face it. Beyond unknown factors who will leave next or what happens with the eu the big issue for u. S. Investors i think is the strength of the dollar. Global concerns sent the u. S. Dollar soaring. That kills our multinational stocks and puts pressure on commodities as well. Long term the dollar still in a down channel. This is something you should feel booed about, but right at top of the channel. A lot of u. S. Household names with big exposure to europe. General electric, coke, philip morris, mcdonalds. To name a few. Im not long any of those names. If you are looking for shortterm gains i dont know that those are the right names to be in in the first place. Think about looking to some u. S. Centric names. Tractor supply, six flags, autozone. I still like the restaurant stocks too. I like jackinthebox. Shake shack. A little more volatile but i think it will go higher. Here is the thing, you can chase gold. Gld is the gold index. You should have already been positioned particularly if you watch the show. We talked about it a few months ago. Were not talking about the doom and gloom today. That is not what i want to do. Im keeping close okay at this market we closed technically underneath some key support point. So we really need to rebound on monday. Not a complete snap back but some sort of buying. Want to come up into monday with buy list. Updated my brexit list, based on assumption on remain vote. We were down 600. We would have been up 300. I fixed that up. It is on my site, w street. Com. Dont miss fox businesss new show, wall street week. I get to enjoy Anthony Scaramucci and gary kaminsky. Well discuss fallout from the british exit from the European Union. It starts tonight at 8 00 p. M. On fox business. Prime minister David Cameron urged voters to stay in the eu. He put his heart and soul in into it he lost. Into it he lost. He is stepping down. This is your daughter. And she just got this. Ooh boy. But, youve got hum. So you can set this. And if she drives like this, you can tell her to drive more like this. Because youll get this. You can even set boundaries for so if she should be here, but instead goes here, here, or here. Youll know. So dont worry, mom. Because you put this, in here. Hum by verizon. The technology designed to make your car smarter, safer and more connected. Put some smarts in your car. And intellectual propertylines about bubeing stolen. G hacked that is cybercrime. And it affects each and every one of us. Microsoft created the digital crimes unit to fight cybercrime. We use the microsoft cloud to visualize information so we can track down the criminals. When it comes to the cloud, trust and security are paramount. Were building what we learn back into the cloud to make people and organizations safer. Charles Prime MinisterDavid Cameron responding to the historic brexit vote by saying if uk is out of the eu, well, he is out of office. I will do everything i can as Prime Minister to stead did ship over the coming weeks and months but i do not think it would be right for me to be the captain to steer our country to it to its next destination. This is not a decision i have taken lightly but i believe it is in a National Interest have period of stability, then the new leadership required. Charles president obama spoke with cameron today and he said he is disappointed that cameron will step down. Will the lead movements Boris Johnson lead them into the future. Joining me, jessica tarlov. Jessica, you worked for Boris Johnson . Yes in 2012 i worked on his reelection campaign. Really . Democrat working for conservative but it means Something Else over there. Charles so is, what would you he is socially liberal. Im quite a fiscal conservative. Not like a republican fiscal conservative you about hillary fiscal conservative, quite send tivity. Boris johnson is remarkable politician. He has the best personality ever. This is pet issue of his really long time and he always had high aspirations. He knew this was a way to stick it to David Cameron for sure. Charles he was born in america, right. He could be our president. Charles no problem i am being president there. Right. Charles you dont have to be born in america anymore right, rick. Sorry to digress a little though, buddy. What do you make of it . Boris johnson should probably take a victory lap. He is also controversial. Is that kind of lead you are you need . We talked about smoothing fet these and reknitting the country together. He was only controversial because he was not for the status quo. He called out something that wasnt working as opposed to i think hillary her entire campaign is about the status quo. I think politicians able to see a problem and take a big step to say, you know, this is going to be controversial because change is always difficult, but i believe that the politicians that are the most successful are the ones that say, you know, i may not be around for a long time but i will do something big. Im not just going to be a seat warmer, as opposed to hillary. Charles as opposed Charles Chris that is great point. A lot of politicians go to washington, d. C. Thinking that is the case, they find themselves 30 years later hanging on with bridges to know where. He ran out of time. He did three terms in london amazing as conservative. He went to school with David Cameron. He went to college with David Cameron. They have known each other at same time. This is friends. This is part of the long history of the conservative party in england devouring their own. Ask heath and margaret thatcher, she was devoured by conservative party. He took a long time, saying he was for brexit. They didnt want nigel farage and u quit people to take over vote. He had press come out and he said im taking down brexit. If i do this and i succeed im taking down my old classmate, cameron frenemy thing. There are names floated like fox, the former minister of defense. He has the reigns. He led the campaign successfully. He is most strongly positioned. Charles say that again, rick . He is the reason he won. If it was up to nigel, they would not have a broad coalition. Charles immigration. Conservative party really pushed forward this bigger idea of, you know, it is not working in brussels. Lets stand up and have some patriotism here and do something bigger than what was happening. He should get all the credit. And yes, it is controversial but he should take the lead. Charles jessica . No i just wanted to add i totally agree with the points you made but Boris Johnson and 80 other tory mps who were for leaving eu actually came out in support of David Cameron. There is no reason he has to step down. This doesnt change anything. I think that is very smart tactically and very smart for the party. Sorry, what . He has to do that now. I mean showing that he is a party guy and oh, David Cameron, you dont have to leave. But he shoved David Cameron right out. Charles what, i applaud i think their political system is lot more advanced than ours. I think the way they handled this, all sides were brilliant and smart way for everyone. Maybe we start learning things from them in many different ways. Things a lot, guys, vote to leave European Union, sent markets into turmoil, we want you set up for monday, right . Bringing back some experts. Remember there is election in spain that could also add to some of the anxiety. There is a lot to think about. Well be right back. The charles man, it has been an exciting last 24 hours, right . Results are now in. Uk, britain want to leave. Theyre out of the eu, our markets responded by going down. David cameron responded by going out. Hillary clinton and donald trump both expressed support for the decision but you get a sense there was Different Levels of support. Joining me to discuss it all, jessica tarlov, david nelson and ted bromman. Ted, i will start with you. What do you think is next . Will there be some sort of buyers remorse . No, i dont think there will be buyers remorse. I do think it is important of course that the break with the eu happens as cleanly and as rapidly as possible. Of course this only in some ways really increases the burden on the United Kingdom to make good policy decisions on its own because theyre not going to have brussels to kick around anymore. They will not have brussels as an excuse or explanation when things go wrong. They need to make good, free enterprise, good, social welfare, good broader Public Policy decisions now that they have the full power and right to do so. Charles ted, in this country i think there was overemphasis on middle east and migrants and migration into europe or the uk, rather, and a lot of missed that 2004 eu decision to allow smaller nations in that werent economic juggernauts. I dont think they should have qualified. What they did was open the floodgates for cheap labor. How does the uk say to slovakia or estonia or yugoslavia, that you cant send anymore people here . How do they slow that down . The United Kingdom need to move toward a point style, australian style immigration. Not a closeddoor system. Not a system that doesnt allow anyone in but a system makes some effort to match skills of people who want to come to the United Kingdom with the jobs and positions actually needed to be filled in the United Kingdom that arent being filled by people who were actually born there. That is a perfectly plausible system to design. As i said the australians have such a system. Now of course the british have the freedom to design that system on their own. Charles that is central issue. Canada changed their immigration policies to a degree. What is next for democrats . I think easily talk this week up to donald trump and republican. I dont know. I saw a poll up she is up double digits. Charles easily between the legal rebukes of president obamas overreach, between wellreceived speech by donald trump and then this vote and brexit. So what happens next week on political side . Well im sure that it will be business as usual insofar well have a speech from donald trump. Well have a couple from hillary clinton. She is out monday with elizabeth warren. It will be interesting to see how those two will campaign. Charles what do you think of your man Bernie Sanders. Saying he wont vote for her but laying down stipulation. He is dissing her. Nonstop. After bloomberg poll showed 22 of sanders supporters saying they back trump over clinton. This happened before. It happened with clinton and obama but clinton was so gracious bit. She really handed her voters over to president obama and emphatically supported him. Bernie sanders for the life of me, when you say you want to defeat donald trump, that means getting behind hillary clinton. She is our nominee. She won over Charles Welsh did. Well what . She was 8 million votes ahead. Charles really has her over a barrel. Im sorry. She will have to blink and say i want 15 minimum wage. Wake up tomorrow, free health care, forget everything i said but she cant. You campaigned for it. Charles knit it all together for us, Financial Market angle. Point on this, i think we pretty much take the polls throw them out of the window on political front, there is a lot of bookies and pollsters in britain out of jobs. Charles it was still tight though. It was, i dont think it was embarrassingly off. Charles, we built in a remain vote over this last week, we were up big really over the last several days. That was half the market selloff unwinding that trade. Charles last wednesday, ladbrokes said 70 votes for leave. The shifting, betters over there. Highs of monday, thursday. We have been trading sideways. We had anxiety and everything. What do you think though with respect to the markets now . Are they going to look to our politics for direction or is it too early for that . I think charlie hit on it earlier on the show talking from london. I think at some point well decouple. That is really the key. Were certainly best house on the block right now. I think in the end this will be good news for britain. It will be good news for europe and good news for the United States. Charles i think so. I agree. You guys were fantastic. We thank you for joining us. Kimberly guilfoyle and Peter Schweizer monday. Join us please. [ ] announcer this show has never been solely about investments. We talk about anything that affected people and their money. From fox headquarters in new york city, the new wall street week. Anthony welcome to a special edition of wall street week. Im Anthony Scaramuccing