Bag the dow attempting for a Third Straight interestrate session of gains but between the bulls and the bears as anyones game, the s p 500 and nasdaq on the other hand are little more firmly in the green as you can see, nothing to write home about but there in the green, as big tech and growth stocks, maybe the chip stocks to lead the way higher, nvidia, micro, their higher but not just tech and control, Steel Dynamics claim in the top spots on the s p 500 at this hour. Coming up by the way were going to dig into whats driving the gains in the rejection and rocking the Steel Industry the ceo of spring maker Cleveland Cliffs will join me whether to discuss whether or not he can seal the deal with u. S. Steel, that is a lot of rhyming. The Chinese Markets are reeling today as the countrys property crisis deepens the hang seng deeply more than 1 of chinas top privately run developer, Country Garden holdings failed to make its Interest Payments onto u. S. Dollar bonds. Could turbulence and china create a Ripple Effect across the globe and here in the u. S. Markets, that is a good question to ask, lets get right to the floor show, joining me wealth chief market strategist. I was going to say my great friend and Culinary Genius kenny pull kari, great to see you. Lets begin with china, whats going on there, anything that happens in china does have a Ripple Effect. Is that something we should be keeping her close eye on. There are certain things that happened in china have a Ripple Effect, i dont think this is going to have a global Ripple Effect. I think it is very specific to china and while it or create angst in the market, itll create a reason for some people to pull back in the long term i dont think it affects european markets and nor do i think it affects the u. S. Markets as much as they made it sound this morning. We saw asian market sold off overnight. European markets were under pressure but they turned north once they said Country Gardens is trying to extend the payment and make it right so therefore i dont think there will be a lot of difficulty with the rest of the world. Ashley certainly the markets today treading water, all sort of data out tomorrow, the retailers reporting, target, home depot, we also get retail Sales Numbers for july, what he expecting what is the state of the consumer right now. I expected i said this a while i think were going to see the broad market backup. The state of the consumer is tenuous. As a People Living handed mouth put money on credit cards that are barely making it. I guess you guys did a report earlier today and is as average American Family is painted additional 702 a month for basic the subsidies. Is 8500 year that a lot of people are struggling to have. It could be interesting to see, retail sales are supposed to be up for tens of 8 which is up over last month to tenth. Its good to be interesting to see what that report really says and then the retail that are reporting this week they range walmart is at one end of the spectrum, target at another, home depot at another all in different parts of the market. I suspect well see the lower end retailers do well and as people stepped down to the lower end retailers. I think the market probably is going to trend lower over the next five or six weeks so i would not be surprised to see that happen. Ashley very quickly, you have 20 seconds. The fed minutes i know Everybody Loves to read the tea leaves but the market believes there will be a positive september, are you one of those that believe that . I think this could be two more rate hikes, 6 which means we have two more 25 basis point hikes. I dont see especially after fridays ppi report, it was on fire is hotter than what it is, that didnt even include the increase in energy and gas that we saw over the month of august or the month of july. August cpi did not capture the whole thing i think thats going to hit us at the end of the month and next month cpi and 50 more basis point. Always terrific stuff. Kenny polcari thank you for joining us. Now to the deal rejection of the day surgery more than 30 after the Company Rejected from fellow steel producer Cleveland Cliffs offered to buy u. S. Steel in a cash and stock deal valid at 35 per share, shares for cleveland up 6 , check out united steel up 40 , cleveland ceo thank you so much you are the person to ask about what the heck is going on, u. S. Steel rejected your buyout offer saying it was unrea unreasonable, what is your response to that. Is clear that the market disagrees it is pretty reasonable so much so there up 41 and we as the buyers are up 7 . Its a very reasonable offer in the market and the very clear on their verdict they say you have to sign a nondisclosure agreement unless they agree to your terms, they demanded you should not talk to the u. S. Government. I dont know how much of that is true, can you explain what the process was and why you didnt want to sign an nda. I would like to sign the nda but we were unable to get to terms that i could sign the nda. The foundation of my proposal is there partnership with the union. The union has the right to present a counter offer in the face of any offer that the u. S. Steel receives to sell the entire company or assets that have Union Represented workforce. The very first pardon i had to clear was the union and the union was extremely positive to my deal, gave me a letter which i made public supporting my deal and make it abundantly clear that they would not support anyone else. After i had that, the nda that was presented was aligned too far for me and thats only reason i did not sign the nda. Weight is the deal stand, more room for negotiations . Absolutely. A publicly traded company particularly the ones that are very loaded with consultants into law firms and things like that. It is not true, they will believe that it is true that they need to reject the first year, thatll happen so far now the same minds that start to chime in and bank that make a lot of money and investors in a shareholders are starting to reach out. All the positive reports by researching analyst and they rate the agencies, everybody supported the deal and seen the logic of the deal. I offered a very compelling offer only motivated by the fact that i can extract 500 million in synergies without cutting jobs. Thats pretty compelling. It is compelling, and regulatory landscape if you like and confident that this will get approved if you can find Common Ground with u. S. Steel. I have approved two deals in the last three years, to complex deals in the acquisition of middle usa. It went in and out to the second review. We believe that we tell the truth, we answer the questions, we protect jobs, we check all the boxes into control any markets in the competition of my businesses worldwide. We are going to finally have a company among the top ten. In all other 96 from china, one from japan, one from china and one from europe. They are all merging like youre trying to do. Lorenzo, thank you so much for joining us today. We wish you the very best. We will follow with a great amount of interest. Thank you. We appreciate it. Ashley retailers in focus with big names including walmart, home depot and target reporting plus will get the july retail sales report tomorrow, the top retail analyst will be joining us next with his take. By the way the closing bell ringing and just under 50 minutes. The claman countdown is coming right back. S or moments that matter, but you can invest in them. At t. Rowe price our strategic investing approach can help you build the future you imagine. T. Rowe price, invest with confidence. This is your summer to smile. To raise your glass and reconnect. To reel in the fun and serve up great times. 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You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Wow, you get to watch all your favorite stuff. Its to die for. And its all right here. Streaming was never this easy, you know. This is the way. You really went all out didnt you . Um, its called commitment. Could you turn down the volume . Here, you can try. Get way more into what your into when you stream on the xfinity 10g network. Ashley the Retail Sector in the spotlight this week with major names reporting quarterly earnings, home depot kicking it off, target in Tjx Companies on wednesday and walmart follows on thursday. A lot to digest with regard to the earnings. The Census Bureau dropping july retail sales, its good to be a very big tell on where the strength of the consumer lies. What can investors expect, joining me on a fox business exclusive strategic resource managing director burke flickinger, its been a while since we had a chance to talk. Lets get right to it, home depot, lets start with home depot, they missed First Quarter revenue estimates and they lowered their profit and sales, what you going to expect from them tomorrow. Home depot is very well managed and led like lows which has a long leading. Both this week will have positive samestore sales in part because of consumer demand to do projects both pros and doityourselfers at home but also the wicked summer weather, tornadoes, floods, droughts, record rain will also stimulate emergency response, home depot sales as it will for lowes. Ashley target expected to report fast quarterly revenue dropping in about six years, what you expect when you hear from target. Itll be a stabilizing quarter for target and target is advertising well set up for bts are backtoschool, the other thing target doesnt get sufficient credit from the consumers they get 5 of the profit to Keep Community locally and coast to coast also target like kroger and destin security for Public Safety for workers, shoppers indirect store suppliers so the Public Safety issue crime gets more out of control if the Dollar Stores in the chain drugstores as well as walmart that will be an advantage for target for backtoschool after this quarter and going into holiday and year end. Ashley you mentioned walmart real bellwether if there ever was one. What are you looking for there . Walmart, barringer sister publication reported troubles for mainland china, peoples republic of china, the piercy economy over the week and today. Walmart has substantial operation so expect target to guide down because of struggles international into cash and credit consumer locally. Target is the number one retailer for food and for grocery in your great prior segment on u. S. Steel walmart and kroger and albertsons out of necessity have a proposed merger in front of the federal trade commission and then we will lower prices to consumers as kroger has lowered prices 5 billion in the last year and it will help independents and familyowned operated retailers with their procurement power, costco, walmart and amazon have really buying practices where kroger is much more enlightened as is target. We have retail Sales Numbers for july coming out tomorrow morning, what are you expecting, what is the psyche in the state of the u. S. Consumer. I think the report published in barrons today summarizes it well, backtoschool spending will be down 10 or 60 per family versus prior year, the first time a been down since 2014 and also the consumer is very cautious that the Retail National federation numbers are aggressive and we expect the u. S. Department of sales as you referenced earlier estimated four tenths of 1 . We think thats a little bit aggressive and theyll start trending down adjusted for inflation, you and larry kudlow do so well on fox Business News retail sales will be under pressure, and 61 are living paycheck to paycheck with over record trillion dollars of data reported earlier today on fox Business News and barrons. Ashley this consumer is under pressure. As always, mind of information. Thank you so much. Great to speak with you. Thank you, Hawaiian Electric under severe pressure on reports that he did not cut power before the maui fires reaches almost 100. Horrible story we will have more, the closing bell ringing under 40 minutes, the dow, the s p 500 with the s p, nasdaq up the dow trying to get back into the green. Well be right back. Dad, we got this. We got this. We got this. We got this. We got this. Yay we got this. We got this life is for living. We got this lets partner for all of it. 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The biggest ideas inspire new ones. 30 years ago, state street created an etf that inspired the world to invest differently. It still does. What can you do with spy . Ashley fox business alert, the market, the s p and nasdaq continue to gain ground although modestly but the dow up a tenth of 8 . Meanwhile a tale of two amc stocks after a judge approved Amc Entertainments plan to convert its converted shares to common stock. Amc preferred units or apes are surging they are up 18 while amc sinking down 34 because the move essentially dilutes the worth of each common share. Amc told investors that the move will pay down some of the 5. 1 billion in debt, tesla meanwhile hitting a twomonth low, data one and three quarters after the company cut its prices for the model why cars in china. Two chinese versions of model why crossover had been discounted by 2000 in addition to the discounts, the ev maker is offering chinese auto buyers a subsidy on the model three. Its worth about 1100, tesla has cut prices multiple times throughout 2022 and 2023. The stock down one and three quarters of 8 . Investors paying