Transcripts For FBC After The Bell 20160712 : comparemela.co

Transcripts For FBC After The Bell 20160712



past, president is creating more division. he will bring us his thoughts on today's speech, a speech it seemed with something of a different tone from this president. we'll see what bo makes of that. attorney general loretta lynch on hot seat, defending her meeting with bill clinton and decision to drop the investigation into hillary clinton's email. we'll talk about that. it is official, bernie sanders earn dooring hillary clinton on the campaign trail. as donald trump rails against both of them on twitter. of course. all coming up. melissa: back to the market. forget doom and gloomers. the dow ending up triple digits to break the record set in may last year. phil flynn, price futures group is a fox news contributor. he is watching action in oil and gold. from the cme. from the floor of the new york stock exchange, lori rothman. new record on dow and s&p. >> you said it. melissa: what is going on with stocks? >> nasdaq back in positive territory for 2016. how about that. i say it started with june jobs report. shocking folks as it was much better than expected. adding to uncertainty about the pace of global economic growth. sending everybody around the world snapping up our stocks. yes, u.s. equities, dow and broad market average do close at lifetime highs today. let's break it down here. fees nating on amazon.com, on prime day, shares closed lower. this is outside reversal day. it could be a bearish sign for shares of amazon. perhaps they have come too far, too fast. there were some glitches with the big sale, the big prime day. talk about airlines. this is another fascinating story. united continental up almost 9%. you have a rise in business travel according to united continental. deutsche bank basically raised its rating and price targets on ual, delta, american. if the economy is looking better, business is peopling, more people likely to travel. simple as that guys. back to you. connell: thank you, lori. phil is up next. we saw oil following stocks higher, more than 4% jump, ending up with nearly one-week high. tell us what happened, phil. >> it was turn around tuesday. yesterday the oil market didn't really care that the stock market was doing so well. there was a lot of concerns about oversupply. a lot of those concerns started to go away today. part of that is because of a report from opec, basically says, hey, if the uk "brexit" doesn't slow us down, the global energy market will be in a deficit by early next year. that means we're going to be consuming more oil globally than we produce. that was a big shot in the arm. we also got the report from the energy information administration, basically it said the same thing. demand for oil will be up in the united states, 1% above a year ago. they also said something interesting. the u.s. will be exporting more natural gas than it imports for first time since 1957, due to the adding of lng exports. so that is big. gold market pulled back. a lot of concerns what happens post-"brexit." one of the big things gold traders are talking about, we now know who the prime minister in the uk is going to be. that takes away one level of uncertainty and one other reason not to be buying gold as safe haven play. they like the stock market, get out of gold, that was the play for today. connell: that sets us up nicely. thank you, sir, phil flynn. melissa? melissa: new records on wall street dow and s&p closing all-time highs as nasdaq turns positive first time this year. we said it before, it bears repeating. it's a big day. gary kaltbaum, kaltbaum capital management. fox news contributor. jason rotman, lido isle investors. thank you both for joining us. gary, what do you make of the market, new record? >> i have been bearish to neutral for 18 months. melissa: are you losing money then? >> no, no. melissa: market is higher and higher. >> once dow and s&p breaks out of this 18-month range i flip over and here's the kicker. there is a 11% cash in mutual funds and pension funds right now. that is a lot of ammo that has to come off the sidelines because of performance anxiety and i think we go higher from here. forget the fact that earnings aren't great, sales aren't great, deficit, debt, everything else we complain about. right now the trend turned up, simple as that. melissa: you think all the cash comes into the market to push things higher, that's what you're saying? >> yes. remember people managing money and people overseeing people managing the money. if there is too much in cash they get yelled at or lose their job. they will have to start deploying those funds. i think that is happening right now. melissa: interesting. jason, that is compelling. what do you think? >> i think in the near term the market is going to keep on making new highs, at least for a couple months. i think once the election starts to take really front and center, a couple of months before november, you start to get the debates, that's really when the market is going to slow down. furthermore, big picture, is that everybody is happy now. there is champagne being popped and whatever you drink but fact is, that all these negative interest rates and bank of japan is now going to do more stimulus, et cetera, et cetera. all the negative interest rates and stimulus is going to cause inflation at some point. and people can buy the stock market up until we start to see those inflationary numbers. then it is over. melissa: we've been waiting for inflation for a darn long time. gary, let me ask you, earnings are supposed to be really terrible this quarter. i heard all the doom and gloom forecasts. alcoa came out and beat expectations. later this week big financials are reporting. wells tagger -- fargo, jpmorgan, financials are supposed to be hit hardest. what happens with that and how does it impact the market? >> let me give you example something happens today. seagate technology, their sales were supposed to be 20% down year-over-year and there are only 12% down year-over-year. the stock was up big today. if these companies can beat the bad number, maybe, just maybe the market will react well. for me, it is going to be about the reaction, not what they say. and we'll know in the next three or four-days as all biggies report. right now, money is flowing into every area of the market. financials, the oils, which are pretty much dead over the last few weeks, popped today. as long as that continues, that is good news. melissa: jason, why do you think maybe earnings won't be as bad as expected? were companies sandbagging? were they padding estimates? >> this is situation, related note to answer your question, james bullard, one of the key fed governors came out today, and for some reason bullard's words affect the market like no other. bullard said you know what? th i actually think it will have zero effect on the economy. in a sense that is what is causing the rally today. to answer your question, maybe there was some type of fear factor in the overall situation leading up to the "brexit" as far as earnings. and now it is kind of like, hey, the economy is not as bad as we thought, let's go. earnings will start to get better. connell: how strong is it, guys? take that up, gary, the economy, first thing this morning start read something jamie dimon with an op ed in "the new york times" talking how he will be giving everybody a raise. part of the story with starbucks raising prices as they did, they will give employees a raise. companies are willing to go out and spend more money. your take on the economy, gary with those stories? >> i think the economy is okay, nothing special. when you come to starbucks, there is strong demand for a lot of coffee. they're attempting to raise prices. guess what, if people pay those prices they will keep them up. if they don't, they will have to bring them back down. jpmorgan, by themselves think they're not paying enough to their employees. i had no idea how much they were paying until i read about it today. they think they can do better. more power to them. on individual basis that is what capitalism is all b companies having the ability to decide for themselves what they pay people, not what is mandated by states and by the country. connell: of course. that is the political story, jason. wondering the economic story if companies are in better shape because at end of the day with stock markets at record as we're talking about today, that is what will drive things. american companies making more money and stock prices going higher if long-term story these records can be sustained. what is your take? >> first of all i think the other reason, in addition to the yen tanking and james bullard speaking i think the big reason why stocks are making all-time highs today again is the jpmorgan, starbucks news because the more people on the, you know, lower strata of income that they're making more none any they will invest more and buy more real es state. rising tide lifts all boats. i love the news today. bigger picture, i go back to my point, not today, not tomorrow, sooner rather than later we will see higher cpi inflation numbers. that is something to think about if you're making long term invests. the bull run will not last forever. we'll see inflation, stock market will slow down. not today, not tomorrow. melissa: timing is everything in life. we've been waiting for these things for a while. gary talk to me about the market where it is right now. people saw the dow break through 18,000 but couldn't move higher definitely and take it to the next level. do you think it has the juice now? >> i think so. as i said there is a lot of cash on the sidelines. i tell you most of the investment banks are very bearish on the market saying we're going much lower. they will have to flip that also as we go higher. remember psychology is a big part of the market. it can go from negative to positive very quickly. again the most important thing for me is new highs beget new highs. when there is a lot of cash on the sidelines, that's going to help fuel it. i think, i don't know if we're off to the races here but i would bet that we've seen the low in for the year and probably this breakout will stick for a while. i think there is more to come on the upside, regardless whether earnings are bad or earnings are good, i think the market has some juice here. melissa: jason, if you were sitting on sidelines and checked out and woke up and realize everything made it to a new record without you, how would you get in city point? what would you do? would you pick stocks, buy the index, sit on the sidelines what would you do? >> ultimately, time and time again the bogle philosophy buying index fund not trying to beat the market even though that's boring, typically if you're a retail average joe investor, that will pay off rather than picking individual stocks. at this point you have to buy the dips. you have to buy the dips until the election. this market will not go up forever. two months before november, if you're in the money by buying dips, go into cash and see who becomes the next president. melissa: jason what do you think happens with the election? one candidate helps more than the other? what is the magic of election? >> the key is certainty versus uncertainty. if it is really looking out there is some "brexit" scenario where this surprise donald trump candidate gets elected he has some pretty, not irrational but extreme policies that are kind of more separatist than we've seen in a long time. i don't think initially we may get a knee-jerk reaction, that is not good for the economy. so, that's what i'm saying. >> can i just say i have to add the most important thing going on. the massive intervention by central banks around the globe. >> right. >> it never stops. it only gets bigger. it is what's fueling markets. >> for years. >> what's fueling s&p to be trading at 22, 23 times earnings when it should be at 17, 18, or 16. again they never stop. japan, after 20 some odd years of doing it are now raising the bar again. the uk willower rates. they have been announced in eu will be printing 85 billion a month. it is absolutely insane. it will end badly eventually but right now the market still liking it. market speaking up in the past few days. >> think about market psychology, gary, you brought it up a few minutes ago. if somebody like you is getting optimistic after being bearish so long, we've been told for years, flip side that could be a warning sign in some ways? overly optimistic people start going other way. there is bearish guy, gary kaltbaum, i have to chase it too you know? >> first off, not chasing. bearish rightfully so last 18 months, commodities did nothing and bunch foreign markets dropped 30 to 50. for me the market breaks out at that point, at that level where it was 18 month ago, that's where i'm interring. not like jumping on after 20% rally. again we'll play it day by day, stock by stock but you can just tell right now sellers are absent and buyers are bidding things up. until that stops you go with it. connell: one other thing on election. we're talking about the effect this election might have on market and market on election. it works both ways, right? is. >> son, especially timingwise, end of this month, we're in july and if the market today, headline same, s&p 500 lifetime highs, how does that impact the election with incumbent party? new candidate in hillary clinton is that going to help her if market at all-time high as it is now or even higher? >> interesting question. of. i don't think, unless it will have an impact. unless people hear from portfolios make a presidential choice, based off of that, issues really matter to people. with that being said, you know, the people are still going to take cash, take money off of the, take money out of the market before the election because it's a huge, uncertainty. you have two extreme people coming together you buy the dips until september, october, and then you wait. october is notoriously bad month for market too, left we forget. >> don't forget. this is not just an election for the presidency. this is for the house and senate. if they change hands and you have somebody with control of everything, that can mean a lot to markets and economy also, especially if it is socialist party. people said markets would fall after cliff if "brexit" went through. "brexit" went through. they talked about money lost because of the decision. check it out, it is all back an more. thanks to both of you gentlemen. connell: so much for armageddon. melissa: exactly. connell: connell: 18, three, all stocks hitting individual highs. we're less than a week, speaking of politics, from republican convention out in cleveland. new security concerns is arising in the city. is cleveland ready and able to handle what is in store? live there to give you an update. melissa: former candidate jeb bush, a decision painful for him and first time in his adult life, and it breaks his heart. connell: remember those who were lost. former president george w. bush and current president barack obama addressing tragic shooting from dallas where we lost five of our nation's heroes. >> with their deaths, we have lost so much. we are grief-stricken, heartbroken and forever greatful. when a moment turns romantic why pause to take a pill? or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache. to avoid long-term injury, get medical help right away for an erection lasting more than four hours. if you have any sudden decrease or loss in hearing or vision, or any symptoms of an allergic reaction, stop taking cialis and get medical help right away. ask your doctor about cialis and a $200 savings card. by switching to xfinity x1. rio olympic games show me gymnastics. x1 lets you search by sport, watch nbc's highlights and catch every live event on your tv with nbc sports live extra. i'm getting ready. are you? x1 will change the way you experience nbcuniversal's coverage of the rio olympic games. call or go online today to switch to x1. melissa: historic day on wall street. dow closing at new lifetime high, smashing a record set last may. s&p 500 setting a new record for the second day in a row. nasdaq is now positive for the year. check that out. connell. connell: breaking news meantime in the nation's capitol. capitol hill itself we're told on a lockdown. we have not received any kind of a reason. this of course has happened so many times in recent weeks and months. we don't have a reason for the lockdown. we received updates as we receive any of those updates. >> each new day can bring flue dangers but none of us were prepared or could be reaped for ambush of hatred and malice. the shock of this evil has still not faded. melissa: that was former president george w. bush speaking at a memorial service in dallas, texas. president obama also wrapping up his remarks just moments ago, honoring the fallen and praising the police force in dallas. >> when the bullets started flying, the men and women of the dallas police, they did not flinch, and they did not react recklessly. they showed incredible restraint melissa: the president is fighting to unite a deeply-divided nation right now. connell. here to weigh in an all of this, president's response to dallas, bo dietl, former nyc detective and fox news contributor. always good to see you. different tone and venue from president obama. you've been critical of him in the past. >> yeah. connell: he said we know there is evil in the world, that's why we have police departments. something different from president obama today. >> you know where i stand. cops need all the support they can have. i was in dallas three weeks ago with chief brown, one of the issues they were talking about, losing so many policemen to outlining areas basalries were so low and a lot of guys weren't too happy down there. we're talking about operation blue shield, cops going into inner-cities. listen to the president speak there, things might get messy. cops might get hurt during demonstrations. i understand where he is. coulding from with it. i understand what the idea here is peacefully demonstrate. we should stand for but cops are called upon like chief brown said to do remarkable things. connell: right. >> when there are households with one parent, 70% have a mother with no fathers this all contributes to the people being very upset. kids growing up with no real vision what they're going to do with their lives. this is something we all have to work together with to try to get to the kids and change their direction, what they think about the cops. the cops are called upon when there is problems. anytime you see a cop you're in trouble. firemen are winners. they come when the house is burning down. we love the firemen. why a lot of cops become firemen. they get sick and tired. when you're a cop, you have to be a judge, you have to be a jury and you have to be executioner sometimes. you have to make the right decision, that people will talk about. even prosecutors have weeks and months. this is one of our, we're also not as divided as country as we seem. do you think that is true. >> i really think it is true. i would like to hear that from the president. i don't hear what you say about the president. he is so articulate. he is one of the greatest orators ever. even after the state of the nation speech he did a few month ago. i listened to it, wow. he sounded good. i realized he didn't say anything. connell: you didn't agree with any of from the delivery. i like what i heard today. i hope it set as president. we'll have demonstrations. it is all about peaceful demonstration, connell. >> right. connell: i don't want cops to be target -- >> if you want to demonstrate things, run them through the judicial system, let the cards fall wherever they are. bo dietl. melissa. melissa: more breaking news right now, capitol hill is on lock down out of an abundance of caution there, they are saying reports of two people in custody, after shooting on third street near the labor department. members being ushered back into the chamber. we are going to bring you updates as we have them. we'll be right back. melissa: dow closing new lifetime high. smashing a roared set last may. timothy anderson, tjm investments. managing director, at the new york stock exchange. what do you make of the big market day? >> certainly a great day all across the board. you know, it wasn't even a wildly, euphoric, out of control day. i think that is positive. because, you can't really say like we're extremely overbought, although we may get a little overbought on near-term basis, transports rallied maybe 10% and from their lows a couple weeks ago, dow, s&p, make a new high. nasdaq is set up to potentially threaten that later in the week or maybe next week if the rally continues. melissa: what do you make of the inspiration here, because we heard how bad earnings season was going to be, "brexit" was end of the world and here we are, hitting new records, how do you put all that together? >> you know, i a lot of it is, there is, a lot of demand for yield from around the globe. yesterday a lot of the buying was focused in yield stocks, s&p, outperformed, because it is got a higher yield than maybe, the nasdaq does. i think as of last friday, the s&p five hundred was higher than 30-year bond with global financial crisis. you have a lot of yield buying. you have a lot of buying in some of the. you had a little profit-taking. you got tons of cash, that has, not folk to say there is not alternative. there are minimal alternatives, if you don't want to have -- return. melissa: rather than saying this is about fundamentals. this is the jobs report last friday. maybe i misjudged the economy, it is not that. it is the fact that you have got to put it somewhere, there is nowhere else but the stock market and best place to go find return. >> no doubts that the jobs report last friday helped a lot. it made people feel that the economy is on better ground than it looked like from last month's job report. melissa: which -- >> right. and a lot of people feel that despite the fact that the economy is doing better than we thought it was doing a month ago, the fed probably still not going to raise rates. ray rates. at their july meeting at end of the month. odds still are think probably won't. melissa: i agree, but we'll see, tim anderson, thanks for jumping in front of camera on big markets day. it was big one. connell. connell: it was big one. we're talking about gearing up for cleveland next week. candidates certainly are, but convention security in that city is ramming up. we'll bring you latest from there next. revolution continues. bernie sanders standing by as his former opponent hillary clinton today. melissa: they look very close there, don't think? very loving. connell: well, it was heated primary season. it was an endorsement today, all does it all play out. we'll talk about coming up. >> together, we have begun a political revolution to transform america and that revolution continues we were born 100 years ago into a new american century. born with a hunger to fly and a passion to build something better. and what an amazing time it's been, decade after decade of innovation, inspiration and wonder. so, we say thank you america for a century of trust, for the privilege of flying higher and higher, together. ♪ our customer is a our 21-year-old female. heavily into basketball. wait. data just changed... now she's into disc sports. ah, no she's not. since when? since now. she's into tai chi. she found disc sports too stressful. hold on. let me ask you this... what's she gonna like six months from now? who do we have on aerial karate? steve. steve. steve. and alexis. uh, no. just steve. just steve. just steve. live business, powered by sap. when you run live, you run simple. when you didn't know we had hundreds of thousands of places to stay all over the world. or that we searched billions of flights to get you here. a few weeks ago, you didn't even know where here was. now the only thing you don't know, is how you're gonna leave. expedia. technology that connects you to the people and places that matter. and i'm just a guy who wantsants to sell him that truck.ck. so i used truecar. it told me what other people in the area paid for the truck i want. and because we're a truecar certified dealership, i already know the truck he wants. so we're on the same page before he even gets here. -it's fair. -and it's fast. look good? looks great. this is how car buying was always meant to be. this is truecar. ♪ >> to conclude that no prosecution would take place without examining and drawing conclusions regarding the questions that i have just asked, does not seem to be a responsible way to uphold your constitutionally sworn oath. >> what do i say when in fact, saying something that isn't true, handling classified information in a extremely careless way, has no criminal ramifications? >> as attorney general it would be inappropriate for me to comment further on the underlying facts of the investigation, or the legal basis for the team's recommendation. melissa: lawmakers depressing loretta lynch for answers on the hillary clinton email investigation, attorney general remained tight-lipped. republican congressman trent franks. questioning attorney general. what do you think you guys achieved today? >> essentially the world knows if they saw this hearing, that mrs. lynch was completely unresponsive. she dodged every question of relevance or significance. it was embarrassing, if you saw my own time of question, you will see that after i asked the first question after she had dodged all the previous questions, i simply said, okay, not going to play this game. essentially i'm not going to continue asking questions that will be ignored. so then i gave a little narrative on why it was so important for people to be able to trust their government. and when the highest law enforcement official in the land, simply ignores the law, for political reasons, that is why people don't trust the system. that is why we're in such chaos. melissa: congressman, there is group of people that firmly agrees with you, and a group of people says this is over. that james comey doesn't agree with you, and he is somebody that republicans said would be a non-partisan voice to make this decision. i mean do you feel like you risk looking like a sore loser by continuing down this path? >> well, you know, that is not my objective here to look like a loser or a winner. i'm simply going to try to focus on what is the justice element there. and there are three things incontrovertibly true. no question that hillary clinton broke federal law. no question she lied to congress as well. no question she put national security at risk for personal reasons. or for political reasons and there is no question about that. and if people saw the interview and at least heard me read the statute, they will know that what i'm saying is true. melissa: and so now we know that republicans are going to ask the fbi to look into the fact or justice to investigate the fact that she may have lied to congress, going back to benghazi testimony and saying, for example, that there were no emails that were marked classified and, that she turned over all of her emails but it seems like it might go down the same road where she is going to say, well, maybe that is true, but it wasn't my intention to lie. in some ways it might -- >> you may be exactly right. but again, attempt in this particular statute is not part of it. the clarity of the statute is clear. i have no questions whatsoever that hillary clinton had a reason for creating a setting on her private server to do this. this wasn't something that was just easier for her to do or you could do accidentally. this was something deliberate and calculated and people can make their own conclusions why she did that. but there is no doubt about break the law. but you are potentially correct. that could happen but you know with a seminal election coming up, people deserve to know that if they elect this person president, what they will be electing. melissa: congressman, intent wasn't supposed to have anything to do with it last time but we saw things twisted to make that the case. thank you for joining us. we appreciate it. >> thank you. connell: we have some news on the presidential race that is breaking right now. this is a statement that has just come in from fox news. going to read it to you right now. fox news channel has mutually agreed to spend it is contributor agreement with former speaker of the house newt gingrich effectively immediately due to intense media speculation about gingrich's potential selection as donald trump's vice-presidential candidate. we felt it better to halt his contributor role on the network to avoid all conflicts interest that may arise. that is just in. melissa: cleveland officials scrambling to prepare for chaos at next week's republican national convention comes to town. fox news's mike tobin in cleveland with the latest. they're bracing for a lot there, huh, mike? >> they certainly are. head of the secret service, melissa, says every special security event a unique. pressure on agency for the rnc here in cleveland. the director of the secret service says demonstrators are more bold, evidenced by people rushed the stage a couple of times at different trump events. emotions inflailed from social media. taking place with backdrop of islamic radicalism, tragedy in dallas and certainty of demonstrators desending on cleveland. >> i don't sleep real well to begin with because every day, whether it's a the convention or whether it's a president going to a foreign country or ion the president, or vice president or candidate just going out to dinner, we have to be right every day. reporter: all agree that the police here are as ready as they are going to get but mayor, police chief, secret service says the police are adequately prepared. the head the police pa tree man's association that training is haphazard and late and all the officers are being thrown into the intense of environment. >> they're very edgy on a day-to-day basis. do they need to be? they should be. you know, they should be worried about the possibility what could happen here give inch the size of the event that we're about to partake in here. reporter: demonstrations already begun here in cleveland. last night they blocked off some reeds. ultimately they surrounded quicken loans arena where the rnc will be held. melissa. melissa: mike, thank you very much for that. stay tuned to fox business for full coverage of both the republican and democrat national conventions. it all kicks off next monday with the rnc. connell: that's right. bernie sanders today throwing his support behind hillary clinton. you had the two of them appeared together joining forces as they wanted to defeat donald trump. our panel will weigh in on that and do so next. ♪ in new york state, we believe tomorrow starts today. all across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. and in syracuse, where imagination is in production. let us help grow your company's tomorrow - today - at business.ny.gov melissa: here is another look where markets ended the day. check it out. the dow settling at a new lifetime high, smashing a record set last may, led by goldman sachs, dupont, caterpillar, nike, intel. the s&p 500 setting a new record as well for the second day in a row. the nasdaq now positive for the year. there you go, connell. connell: a lot of green. a lot of green. let's get to the hillary and bernie show up in new hampshire. hillary clinton campaigning with her former rival and making a major announcement. >> i intend to do everything i can to make certain she will be the next president of the united states. [cheers and applause] i have come here to make it as clear as possible, as to why i am endorsing hillary clinton. [cheering] connell: new heights communication president, chris at this setzer, and democracy for america communications director join us. neil, talk to you about the fact you had been a bernie guy. >> yeah. connell: he came out, did what we thought he was going to do. where does he help? new poll came out shows hillary struggling again with young people pretty much across the board. was this enough today? will it help her. >> listen, today alone is not enough but the exciting thing is what happened over the last few weeks. because of this strong campaign bernie sanders has run hillary clinton came out this past weekend for this idea of not just debt-free college but tuition-free college, something bernie sanders campaigned on. that is something he can definitely take and talk to the millions of young supporters that supported him across the country and hopefully bring them on to the campaign because it is so important we defeat donald trump. connell: the young people will be key in turnout of that group, christie, what will be key. what is so awkward about these events, you know it will be something always happens. today we learned for example, hillary clinton released an attack ad, accidentally, pretty much yesterday against bernie sanders that i suppose they meant to put out earlier on. these two don't see eye-to-eye on a lot of things but do you think he did enough today to help you out? >> i do. as neil said, today is not going to be the end of it. comparison to 2008 is really easy one because, you know in that election president obama and hillary clinton were actually much closer in votes, both gotten 18 million votes. there is lot of anger from hillary's supporters during that year. remember party unity, by blank people that said they won't support president obama. of course they did eventually come around because of hard work hillary clinton did. bernie sanders is going to do the same. connell: these people are going to take longer, neil, some are new to politics and very young? >> yeah. connell: they were committed to bernie sanders. could her running mate selection maybe help in that regard? >> i think everything, everything is going to be necessary to make sure that bernie sanders supporters aren't just behind the ticket but excited about the ticket. they get out knock on doors to make phone calls to win elections. the thing to remember is key, is that not only the difference between 2008 and 2016, there was real idealogical difference between the candidates. the important thing that happened over the last few weeks has been bernie sanders has worked very hard to bridge that divide and hillary clinton has met him in couple of important places. i think that will be key going forward. connell: we'll see. christie will be back in a moment. neil, good to talk to you. appreciate it. melissa: we have breaking news right now on the lockdown on capitol hill. it has been lifted at this time. it was in place for abundance of caution after a reported shooting on third street that is near the department of labor. we are hearing now, that no shots were fired and lockdown is lifted. connell? connell: good news, obviously, divided they stand. meantime jeb bush is not joining the republican party in the city of cleveland next week. while former candidate believe, both presumptive nominees are bad news for americans. ♪ [announcer] is it a force of nature? or a sales event? the summer of audi sales event is here. get up to a $5,000 bonus on select audi models. perfect driving record. until one of you clips a food truck. then your rates go through the roof. perfect. for drivers with accident forgiveness, liberty mutual won't raise your rates due to your first accident. and if you do have an accident, our claims centers are available to assist you twenty-four seven. call for a free quote today. liberty stands with you™. liberty mutual insurance. >> any of you feel vindicated or satisfied? [inaudible] >> [inaudible]. >> there is no good outcome for you? >> no. why i can't vote for either candidate. this is decision that is painful for me. melissa: jeb bush seeing election as lose-lose situation as many republicans are still not supporting donald trump. christie is back along with ashley pratte from better for america. ashley, what do you think when you watch jeb bush? didn't he take a pledge of some type? >> he did take a pledge but at the same time, a lot of republicans such as myself feel as though donald trump does not represent the values of the republican party. and i think at this point what we need to realize heading into the convention there is a lot of unrest among republicans, specifically young republicans who feel as though donald trump does not best represent them or the future of the party. and i think at this point there is a lot of people that are hungering for a third alternative and right now clinton and trump are not cutting it. there is a lot of dissatisfaction over two thirds of americans feel dissatisfied with the candidates. i agree with lose, lose, election. melissa: christie, i feel it is every election in my lifetime. it comes down to two candidates i don't like very much. a lot of americans would say the same thing this is how the system works and comes down to two people. hard to believe you can't tell which of the two people would be better for you. >> i can tell which would be better for me personally, sure there is obviously a lot of people who don't like either choice. that is also true every election. unfortunately for republicans who don't like donald trump, that question has been asked and answered. he has secured the amount of delegates needed to get the party's nomination. there doesn't really seem to be that much you can do to change that fact despite many, you know, flailing efforts to the contrary. this is one place which i would agree with donald trump where i would say, if there was sort of a very serious effort to present an alternative at the convention to him and deny those 13 million people who did vote for him in the primaries that would be really upsetting i think to a lot of republican voters across america who did vote for him. melissa: yeah. >> it would a real strong signal say elites in the party don't actually respect you and they don't respect your vote. i think it could do long-term damage. melissa: when you see jeb bush go on msnbc especially do this, it feels like he is saying, you know what? i didn't win, so i don't want him to win either. seems like sour grapes and bad sportsmanship and all of that. >> i don't see that because at the same time there was what, 18 people started out in the republican race. look it has gotten to the point it has made a lot of people uncomfortable. we saw timidity with a paul ryan endorsement. same thing with rubio endorsement of trump. it was halfhearted. at this point what it needs to be realized. i agree with christie a convention coup, but idea of independent alternative getting on ballot in all 50 states something people can get behind and vote with their conscience in november jo christie, when you hear ashley say things like that you must be rejoicing she and jeb bush are ushering hillary clinton into the white house. they're in effect voting for her. >> yeah. yes, that is true. to the extent dampened enthusiasm for donald trump among republicans, yes, obviously that helps hillary clinton. and -- >> there is dampening enthusiasm for clinton as well, christie. there is majority of young people who were sanders supporters who she is not going to be able to get behind and they want a third alternative. >> but not at same elf level what i would say. if you look at polls how many sanders vote supporters would vote for trump, 8%. melissa: back connell. connell. connell: our other big story, market and records. what you need to know before tomorrow's opening bell next. melissa: the dow and s&p 500 ending at new record highs, despite concerns over instability in europe. just as we're starting a new earnings season with expectations of a 5% drop last quarter, a lot of people saying we're best of bad neighborhoods. >> all of the talk about where they come, they come to us. that is why we have shiny graphics. melissa: we'll see what happens tomorrow. that is it for us, "risk & reward" starts right now. deirdre: a record day in the stock market this is "risk & reward," i am deirdre bolton. dow and s&p 500 closing at record never before seen highs. my colleague market watcher investor charles payne is here, he is host of making money. so, charles we've been talking about uk's exit from the eu. then friday, a better than expected jobs number. is that what is carrying over?

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