Back in 2011 is with me live. How does that comment sit with him . And they call it the summer camp for billionaires. The worlds richest and most powerful tightens descending on sun valley, id for the annual conference according to forbes, the richest five attendees combine wealth is more than irelands gdp. Adam shapiro is right there. Hes counting the capitalist. Adam is live on why this year the talk is not the corporate deal but something perhaps much more important. And the driverless disaster. Another crash being blamed on the tesla autopilot feature. Is it too soon for this technology to be on our roads . Tesla responds to fox business. Less than an hour to the closing bell. Weve got a solid win for the bulls but connecticut hold . Well start the countdown. Melissa okay. Now, this is interesting. You do not often see both stocks and gold, which is a fear trade move higher while treasury yield drop. Thats also making its presence felt. First to the markets, what do we have here . Not so much that the dow is up about 70 points, its that earlier it was down about 127. So youve got a pretty broad swing here. Along with the nasdaq, which is charging up by 73. Look at the s p. The s p is up nine but what i find interesting here is that it had been down 14. So weve request to a big 24point swing for that. Now, the bulls, why are they cheered . Well, the latest if he had minutes did show that there are concerns about britains exit for the eu but guess what . That was done before the eu and the british world cut themselves apart while the central bankers are in no hurry to raise rates, still unwilling to commit ahead of this fridays report. But as we watch all of this, were going to be checking every single bit of what moves here. And to what is moving. Look at gold. Gold is up about half a percent. Up about 6. 60. Touching twoyear highs and then check this. We have another record low earlier today for the textbook year treasury yield. Its back at 1. 39 . But it touched another record low earlier. So both the trades that are real safe haven investments are in play right now. I want to show you airlines. Lets show them right now. Experiencing is this real turbulence today, names like delta, southwest, american airlines, United Continental, these stocks under pressure right now after put out a report suggesting that the airlines would miss analysts 2016 estimates and downgrades right now for united and american. So right now thats at play. Youve got United Continental and american getting hit the hardest. Now check amazon, up 1 , a positive move here. By the way, that price there, 736 and change, touching a lifetime high today. Sun trust robinson raised the price target to 775. Right now, again, were at 736. It had been at 710. So a little bit behind the curve here. But for the year, amazon up about 8 . That far out paces the 2 advance for the s p 500 and the aggregate. Again, look at the dow, up 77, youve got to watch this at this very mom. Now to the world of politics. Because it is gripping the Business Worlds mind too. Hillary clintons camp might have thought it was a sweet ending of the chapter of her email server, well, its still turning into the slow motion nightmare for the moment. This Morning House oversight chairman announced that fbi director james comey will testify before congress on his recommendation that Hillary Clinton not be prosecuted. This as the rnc highlighted the five biggest quote lies that Hillary Clinton told the people last march, all which were refuted by comeys press conference yesterday and her campaign is definitely feeling the pressure. Campaign spokesperson brian fallon tweeting so house gop will hold a hearing flogging comey for not charging clinton on same day trump visits the hill . This should end well. Lets bring in former democratic senator from north dakota. Byron and former republican congressman from michigan pete. Welcome to you both. Look, senator, the move in the stript when it comes to going a different direction in the Clinton Campaign is not working at the moment because this country is still pretty much fixated or at least certainly inside the beltway on continuing to figure out why james comey would have put out this entire laundry list of problems with Hillary Clintons handling of very important emails and yet no pressure at least move to indict. So what do you think happens . And what does she need to do or what does she want to do to move beyond this . Well, this moment was coming because there was an investigation, and we knew that at some point there was going to be a conclusion for that and thats what mr. Comey announced yesterday. What he announced was something we already know that Hillary Clinton has said she made a mistake, she wish she hadnt had a private server. Director comey said theres no criminal behavior here. Melissa but, senator, can i interrupt . Yes. Melissa we do now look forward and forward is tomorrow when she comey apparently appears before this house committee. How much traction does it get . If you were on the committee, and you sat on your helpings of committees, how close would you look sure have. Well, listen, my listen, director comey is a republican. Hes independent. Has a sterling reputation. I think some would accept nothing less than an indictment no matter what the facts show. But director comey has indicated that this was not criminal behavior and now i think what i hope well do is move on with thoughtful people having serious discussions about things that matter most to this countrys feature. We need to get to that in the president ial campaign. Melissa youre republican and you too have sat on your share of committees such as this. Lets discuss how you would look at this. Well, i was chairman of the House Intelligence Committee for a few years the leading republican on it for a few more years. So six and a half years lead of the intelligence committee. One of the things that i dont think was answered yesterday and needs to be asked is in this miss handling of topic secret emails in a system that most likely was hacked by some of our foreign enemies, what is the Damage Assessment . What is the cia . What is the Intelligence Community . What is the director of National Intelligence determine to be the damage if this information which we have to assume moved into our enemys hands. What damage was done to our National Security . I hope that question is asked at the Oversight Committee here and whether that Damage Assessment has been completed and whether it has been shared with congress and whether it was shared with the fbi. Melissa congressman, youve yet officially to endorse donald trump. Donald trump is all over this issue. Whats holding you back . Oh, no, ive said i will support the republican nominee. I havent been asked for an endorsement. Theres Nothing Holding me back. I take a look at hillar Hillary Clintons track record, shes going after Donald Trumps Business Record and his past history. I take a look at her past political experience as, you know, secretary of, the staled states that occurred on her watch, syria, yemen, afghanistan, and almost egypt. So this is where i think she really wants to go. But its where shes going, and its something thats not going to match up with donald trump, and i think, you know, im now looking forward to the debate moving forward. Who can get this economy moving and who can really address National Security . Melissa well, those are two different things. The economy and the security and senator, that is the issue for a lot of americans polls depending on what horrific nightmarish terror attack has just happened. People usually say its the economy first and then security. But these two toggle back and forth. Well, both are really important. Theres no question about that. Let me because back just for a moment, though, and say lets complete the discussion from yesterday. Donald trump is accusing the attorney general of bribery. I mean, you know, look, theres so much thoughtlessness out there about these issues and with all due respect, donald trump on Economic Issues proposes a tax plan 10 trillion added to the debt of nonpartisan groups, and i cant get past the notion of banning all muslims into the u. S. Maybe south carolina, japan, and saudi arabia ought to be allowed to have nuclear weapons. I mean its really hard for me to get past something that says lets decide were going to reinstitute torture. We need to talk about big issues and serious issues in a way thats not dangerous and reckless in my judgment. Liz its great to have both of you. Senator buy rob, we appreciate you both of you being here. We have a big market day too. The marking are changing course, in fact, charging higher at this hour. The dow hitting lows well earlier down 127 now up 72. But what is interesting, im going to take keep pointing this out during this hour, the yield on the u. S. Tenyear falling to a record low of 1. 321 this morning. But look at it now. 1. 38 . What is not making sense right now as people jump into equities and the safe haven treasuries . Lets get right to the floor show. Traders at the new york stock change, cme group and i max. Ly spreading their bets here. Im trying to simplify it. I think the smartest people in the world are trying to figure out with whats happening with currencies. But you if you look at the reaction of the overall market, 2 farers alltime high today, tech with the russell, you have the 50 day with the s p cash, so i would say very constructive day. So im going to look at what i know and what i know is price action and today as i say very encouraging day for the bulls, another step in the direction to take out the highs of the year of s p cash about, you know, 2120. Melissa so youre a real optimist here and very bullish. Chris robinson, lets show the uk pound. Okay. So remember post british exit from the European Union, everyone flipped their minds and said omg were hitting 30year lows of a buck 32. Look at it now. Were at a buck 29 for the uk pound. This is really stunning to people. There has to be an action, reaction at some point when it comes to equities. In fact, later in this hour, weve got someone who thinks all american stocks who does business with the uk because this is too dangerous at the moment but does it spread itself out from other trades here . I think that the part youve seen the spike in the bond has been to fight the quality. You also see that worldwide the u. S. Equity market, its the only place to go if you want relative safety and a good yield. So youre seeing money come to the u. S. Also strength in the u. S. Dollar, and then you throw it all in, see twoyear highs in silver and gold. More of a currency play, and i think thats where the british pound people are fleeing to for their protection. And, you know, look at the bright side. Its a great time if youre an american to go on vacation to britain. Liz yeah, trust me im already sending people to get me cashmere cards. Thats right. Liz theyre about 60 less, folks, than they were two weeks ago. Just so you know. Luke, looking at oil right now, what was interesting, it was lower earlier for the third day in a row. Now it has reburst. We do have crude up about 1 money 5 in the aftermarket session well off 50 bucks a barrel but, look, as we look at the disturbing bond yield, people are wondering if a weaker Global Economy takes down the trade later this month. Thats a good point but every time you have me on, i think crude sticks around here. Look at crude as opposed to dollar. Crude hasnt gone down as much. So im pretty constructive on commodities overall. I think for the coming months i want to be in commodities, i want to be in crude. I think im going to own what people need not what they. The. So come this winter, i rather have heating oil and be able to turn the heat on and rather have twitter and tweet out that im freezing my buns off. So for the coming months, i think with the economy the way it is, youve got to own what people need, not what they want. And i rather be in commodities that be some of the high stocks. Liz since you mentioned it, twitter is down today. I like that. Scott, luke, thank you very much. Weve got about 47 minutes until the closing bell rings. Were going to continue to watch equities and the dow up 71 points, it is interestingly enough energy, marathon, national oil, those are all energy plays at the moment and even as Oil Moves Higher but overall revenue fell short of estimates as shoppers cut back on what . Snacks and candy . Cars, other retail items, plus there is a brexit play here. Sort of the etf high end version the uk. So perhaps thats a play too. Weve walgreens down about two and a third percent. Switching gears, three attacks, europe, middle east, neighbor less than a week. Isis taking credit for all of them. And president ial hopeful donald trump says it might be time to take a page out of Saddam Husseins playbook when it comes to suppressing terrorists . No one knows more about fighting extremist groups than exnavy seal rob oneal. He is the man and member of Seal Team Six that killed number one terrorist in the world osama bin laden. What does he think of that comment . Hes there live find out what he has to say about trump isis and how we should be fighting back against terror. Hes live next on countdown. Liz well, donald trump certainly grabbed everybodys attention last night at a speech at North Carolina when he paid a compliment to former iraqi dictator Saddam Hussein and his leadership tactics. Listen. Saddam hussein was a bad guy; right . He was a bad guy. Really bad guy. But you know what he did well . He killed terrorists. That he did so good. Today iraq is harvard for terrorism. You want to be a terrorist, you go to iraq. Liz rob oneal is a former u. S. Navy Seal Team Six member and the man who killed terrorist number one osama bin laden. What did you think about . Its an interesting way to say it. Its now is a breeding ground iraq and syria both because of isis. It was more under control if you will although brutal by the dictator Saddam Hussein but thats more saddam and his party which is both iraq and syria, if that makes any kind of sense at all. Saddam just suppressed the people over there and the reason why its such a bad place now is they were used to the dictator and theyre not quite ready for it. Liz when you hear that, people look at it saying, well, osama bin laden, you neutrallized, terrible, terrible guy, but, boy, did he have organizational skills, he brought down the twin towers. Why not use a better example . Winston churchill, you know, in charcoal on raid. Why not use Something Like that . I think right now because thats just the hot burning item where isis is and where theyre being recrude and the civil war is being fought. And you see that it has happened in all the countries that were hit in 2003 and the draw in iraq whether the civil war in syria, whether the bombing and no troops on the ground with gaddafi who was also a dictator. Very, very brutal but once you leave, just complete chaos because the people who are used to being so oppressed that theyre not ready to do anything and the bad guys can come in and take advantage and people like the Muslim Brotherhood in egypt, theyre all very dangerous. Liz well, its the old the enemy you know is better than the one that you dont know. And when you remove somebody like that, for example, egypt or Saddam Hussein, there is that vacuum and the terrorists really do move in. But to compliment, i think thats the issue here and whats getting discussed. People look and say when Saddam Hussein was in charge, iraq was listed as a state sponsor of terrorism and not something to be held up as an sample. But an issue too, it was also considered sort of a blockade between the shia in iran and the sunnis in saudi arabia. Even though they had a tenyear war there and a couple of feet changes white iraq was fighting iran, a lot of people died because saddam being a minority in iraq, a sunni, he was in charge of it and there was that thing there. Its not an unstable region. Yes, they used chemical weapon on their own people when saddam hit the kurds. But i mean it all goes back to the ideology with which they believe. Sunni shia and kurds in the north. Liz right and, again, the nation building which donald trump says it doesnt work. I mean i dont think it will work. It will work liz it didnt work in vietnam. I agree you. Liz we eventually came through to capitalism. Well, you need the people that are locals to come through. Were going to need help with our friends in jordan especially. Sunni led in some part, shia in the other, but youve got to be careful because you have the shia in iran its so complicated. Liz well, i would say dont hold our breath. I agree. Liz because the arab nations have not come through on that level. Thank you very much. Thank you. Liz former Seal Team Six member and fox business, by the way, will be covering fbi director james comeys testimony. Thats going to be on capitol hill tomorrow. Of course it regards the fbis investigation of Hillary Clintons email practices. The hearing is expected to start at 10 00 a. M. Eastern tomorrow. You know, just one more, rob. Im sorry as youre sitting here, i have to ask you. You served while Hillary Clinton was secretary of state. Thats true. Liz you know, those emails everybody said were problematic because they were put out certainly not protected in areas where there are bad actors. What do you think of that . You know, in some of my experience she does know a lot, and she was qualified to be the secretary of state but it was almost depressing yesterday to say, oh, thank goodness were not illegal, were just incompetent. Liz rob, thank you. I think a lot of people may feel that way too. Thank you. Liz closing bell ringing in 37 minutes. Id has the gdp of a large european nation. Why . Because the Business World biggest stars, billionaires on the resort of the whos who list, facebook is anberg, media mogul a special appearance by warren buffet himself. Listen, its a threeday conference and the whos who tech player and ceos media youve got it. But after years of attending who got chopped off the list . Weve got the live report on that and past attendee elon musk has bigger fish to fry. The tesla ceo with yet another autopilot problem. We have spoken to tesla, weve got their explanation for now, and thats coming up. Plus if you had enough money to buy a tesla, would you . Tweet me lizclaman, check out our facebook page. Coming right back i have asthma. One of many pieces in my life. So when my asthma symptoms kept coming back on my longterm control medicine. I talked to my doctor and found a missing piece in my asthma treatment with breo. Oncedaily breo prevents asthma symptoms. Breo is for adults with asthma not well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Breo wont replace a rescue inhaler for sudden breathing problems. Breo opens up airways to help improve breathing for a full 24 hours. Breo contains a type of medicine that increases the risk of death from asthma problems and may increase the risk of hospitalization in children and adolescents. Breo is not for people whose asthma is well controlled on a longterm asthma control medicine, like an inhaled corticosteroid. Once your asthma is well controlled, your doctor will decide if you can stop breo and prescribe a different asthma control medicine, like an inhaled corticosteroid. Do not take breo more than prescribed. See your doctor if your asthma does not improve or gets worse. Ask your doctor if 24hour breo could be a missing piece for you. See if youre eligible for 12 months free at mybreo. Com. Liz in the 28 minutes since weve been on the air weve chalked about i want to say 30 points off the gains, the dow is now at 45, we had been up about 75, so were watching this very closely. We are also watching tesla more trouble, another car accident. Im going to stress this. Possibly, possibly being blamed on the Autopilot Technology that is inside in some of their cars. This time the crash occurred about 100 miles outside of pittsburgh after the pilot engaged the autopilot feature. It hit a right side guardrail, hit a concrete median and then flipped over. Everyone survived the crash, thankfully. So we reached out. Countdown reached out to tesla for comment and heres what tesla told us. Quote we received an automated alert from this vehicle on july 1st, thats friday, indicating air bag deployment. But logs containing detailed information on the state of the vehicle controlled at the time of the collision were never received. This is consistent with damage of the severity reported in the press which can cause the antenna to fail. As we do with all crash events, we immediately reached out to the customer to confirm that they were okay. And to offer support, but we were unable to reach him so far. We have since attempted to contact the customer three times by phone without success based on the information we have now, we have no reason to believe that autopilot had anything to do with this accident. As you may remember just last week the tesla owner was killed when the autopilot feature was unable to steer clear of a truck. Looking at shares of tesla, down just a fraction. You could almost call this flat down 40 cents standing at 213, 59 cents. Well, you can bet a lot of these guys have teslas. Its summer camp for moguls in session and no ones complaining about the camp food. The tightens of media and tech are back in idaho to plot the feature of their industries. This is a get together organized by spangle company and the starstudded guest list include at least four of the top eight individuals richest people on the planet. Microsoft bill gates, Warren Buffett, amazon jeff bezos and mark zuckerberg. Sorry adam shapiro not on the list but he is on our list. And aspiring. Yeah, this is easily outside of the most important gathering of Business Leaders. What are you seeing and hearing . Yeah. Well, can you pass the grape . What were hearing is whos not here. Because we know very well, liz, fug the invitation, roughly 300 people who get invited. To not be invited raises eyebrows and we all know that Marissa Meyer was not invited from yahoo. One of the reasons all of the moguls here are vying to buy a portion of yahoo or buy yahoo all together. So perhaps keeping Marissa Meyer at bay was a smart move, but im going to butcher the famous quote but hell have no fury, be very careful about sending those invitations; right . So thats one issue people are talking about. The other issue has to do with the future. Now, we were talking in the last hour about brexit and people here were talking about the impact on the economy, the Congress Secretary is going to be talking about that with people, shes actually here. But the other issue is how do you take this is also very big media. How do you take whats going on in europe and then continue to grow this new industry . Because people are making their own videos, their own movies, their own tv shows outside of the traditional model. A man who is very famous for what you might call Creative Destruction had a few thoughts on that, and he thinks its a good thing overall. Heres what he told us. Youve got essentially more buyers than youve ever had. But you also have so much more consolidation and so few actual decision makers. So lets talk about some of the media moguls who are here. Michael del, we saw him, tried to get a few questions on how the company has been going since it went private. No comment there. And wouldnt you love to be a fly on the wall at the bar. The people, you know, the fight over viacom. Also meg whitman is here, and i saw jack dorsey, by the way. Looking a little haggard, but hes had a rough year. Hasnt he . Liz yeah, media moguls bound there. And i think they would have wanted Marissa Meyer adam because isnt this where all the deals happen that you see them putting their Heads Together by the piano bar, wherever the heck it is that they meet . And thats how deals get done. At the allen and company. It is how deals get done. The famous one with verizon, aol, 4. 4 billion. But Warren Buffett is here, part of that group that may be trying to get yahoo. Maybe dont want to miss that deal up. So this year you stay away. Liz i think its because she hasnt done well at yahoo, at least in the recent history here. Adam, thank you very much. Because you know what, folks . Because they literally chop your name off if youre suddenly not cool. So thats also a big message as we watch all of this. World. Closing bell ringing in 27 minutes. The Trump Campaign has Just Announced that since the end of may, it has raised 51 million. This is Hillary Clintons pick on trumps Business Practices calling him a fraud and unfit to lead the country. But whos got the better plan for you and the economy . The face off you cant miss. The Business Owner who says hes forced to move his business out of his home state because of trumplike policy plans and the former apprentice contestant turned entrepreneur has exactly what our country needs to get back on track. 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I keep an eye on sales and expenses from anywhere. Even down here in the dark i can still see were having a great month. And celebrate accordingly. I run on quickbooks. Thats how i own it. Liz your money and the economy issue number one for the voters this election season. Donald trump promising lower taxes for all while slamming free trade. Hillary clinton promising higher taxes on the wealthy. Debtfree college and pushing companies to share more of their profits with their workers. So what we thought we would do for you guys is bring in two Business Leaders on this highly crucial issue. Chris is a cofounder of Athletic Apparel company mission, he says trumps plan is exactly what america needs. He is moving his company out of kansas and to missouri because he says tax cuts kansas implemented for the highest have cut rates. What is the strongest part for Donald Trumps plan from where you stand . From where i stand, its true conservative principles versus liberal principles and his plan is about removing the Decisionmaking Authority from the government and tutting back in the private sector. Government doesnt create wealth, government doesnt create jobs private sector does and thats what his plan is all about. Liz youve created jobs. Donald trump promises big tax cuts for businesses while Hillary Clinton says make businesses pay their fair share. As a businessman. What in your experience in kansas been where republican sam brown cut taxes . Well, you know, it really hasnt had the economic effect that he had anticipated. He anticipated there was going to be a shot of adrenaline in the state of kansas. All that has truly happened is weve seen budget shortfall after budget shortfall. Government doesnt have the ability to cut their spending appropriately in line with the massive cut of revenue that he performed in 2012. And, you know, there are some basic functions that we rely upon government to provide. We rely upon government to give us good highways. And to take care of in my case, working with the developmental or disabled. And we cant expect cherries and churches to just pick up the slack from these things. Government has responsibility to our society. Liz okay. So what i understand jeff is saying here, chris, is that kansas reduced personal income tax, they cut corporate taxes, and then suddenly they have pretty significant budget shortfalls. Why would it work differently for the country if we cut on the highest earners . You cant apply to the mark policies of the nation. It doesnt work that way. Were talking about risk and if you incentivize risk, you get more risk takers, if you pencil risk, you get less of it. Liz but, jeff, you took risk, did you not . Yeah. Absolutely. And to say that you cant do it on a state level, i mean we hear over and over again that state is the is the lab that these economic policies are tested in and what you see here is just a dramatic failure of those policies. Liz chris. Well, look, again, i think i dont know kansas policy specifically. It sounds as if theyre testing much more of a Libertarian Movement than a conservative or republican one. Liz oh, i dont know. This is very look, Ronald Reagan did something similar. It worked for a time. But then even David Stockman who was his money guy said trickled down was failing at a certain point. But let me throw it back to you, jeff. Hillary clinton says tax corporations or businesses like yours that do make money and make them pay their fair share. Would that cause you to hire more people or fewer people . Well, i you know, i think one of the things about Hillary Clintons economic plan is not so much about tax penalties. Liz uhhuh. But rather trying to incentivize companies to take those moves that will create more wealth for their employees. An example being if a company has a stock option or stock or a profitsharing plan that there would be a tax benefit for that and helping incentivize more proactive ways to work with your employees is, to me, a good thing. Rather than just giving blanket cuts and then hoping that people do something good with that. Shes certainly talking about tax penalties. Shes talking about increasing the Capital Gains tax over 43 , that is enormous. Talking about taxing risk were living in a false narrative right now where somehow Hillary Clinton is demonized success. What made America Great is the fact that not everyone ends up in the same place but everyone has the opportunity to do so so. And i think thats what were talking about here conservative principles versus liberal ones. 43 Capital Gains rate is a astronomical, its ridiculous. Were living in a fantasy world. Liz but, again, jeff is not wrong on this, the states are often labs, sometimes it works, sometimes it doesnt. But in may, just a month or two ago, kansas tax collections, 74 million tax shortfall of expectations . So how do you feel that as a Business Owner . Weve missed the budget expectations 11 of the last 12 months and the state of kansas just took out another 900 milliondollar loan to try to cover the shortfalls that have been created by this haphazard tax policy that theyve created in the hopes that some day a business will be generated by this. And the only challenge that i had this blog post that went nationwide. The only challenge that the administration came back with was, well, we created 17,000 new businesses last year. Well, those new businesses are simply people filing to be llcs so they can avoid the personal income. Liz and theyre losing jeffs business, but i give you the last word quickly. Again, Ronald Reagan 23 million new jobs, 5 unemployment rate, it does work. And i think we have to focus on conservative principles, give the power back to the private sector, thats where wealth will be created, thats where jobs are going to be created. Liz heres what do we do going to do. I think were going to have both of you back because youre both excellent examples of Business Leaders who have opinions that do matter to our viewers. Jeff, chris, wonderful to have you. Well bring you back. About 15 minutes before the closing bell rings. Hillary clinton did get a reprieve. But for the fbi, the drama is just beginning. A Congressional Panel sharpening the knives ahead of tomorrows hearing with fbi director james comey. Charlie gasparino coming down after working the phones like always. Hes got an inside look at some of the countrys top lawyers are saying about comey, clinton, and the latest chapter in the former secretary of states email saga. Charlie breaking it next on coun approaching medicare eligibility . 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He will face the House Oversight committee tomorrow. How do whitecollar Defense Attorneys see his decision . Well, there are a lot of running around manhattan. Charlie gasparino has been speaking to them. We should point out that james comey has been dealing with whitecollar criminal for many years and as u. S. Attorney for the Southern District and fbi chief, one of the interesting things is what theyre telling me now is now its not every one of them. Stanley says, for example, the whitecollar criminal things they did the right thing. But comey would not extend to them and to their clients when he was u. S. Attorney for the southern strict when he cracked down on wall street abuses back in 99, 00, i guess through 2004 and now as fbi chee, he did not extend the same sort of lets say benefits of the doubt that he extend to Hillary Clinton. And, you know, we brought up yesterday the case of frank, and i should tell you i got a lot of calls on that. Frank is a foreclosure banker for deutsche banc who is essentially for obstruction on justice based on his interpretation of a 22word email. And i suggest people go back and look at that email to get the full context of it. And what most people say is this. They say either hes tougher on and this is people except for arkin. Thought he played it right down the middle of the road. But most people think he played it safe with hillary and not the wall street guys to appease political pressure to indict wall street people post the internet bubble back in the 2000s. The second thing is that we heard from a lot of people is that the notion of giving a push to donald trump is something that probably weighed on comeys decision. That the last thing earlier wanted to do was to elect donald trump or help elect donald trump president , given, you know, donalds disposition. Some of the controversial things he says as opposed to Hillary Clinton. So he didnt want to get that so what he did was split the difference; right . He came out. He didnt say indict, he didnt say charge. But he came out a report that was pretty tough. Liz ive been talking to lawyers too. One of them told me any first Year Law School student this guy leans left. Any first Year Law School student weighing the evidence against the statute would recommend to indict. I know. Thats the whole thing. It was remember lonnie davis, the former clinton adviser who i really like, hes a feisty guy, he likes to argue, and i appreciate that about him. He tried to point out what Hillary Clinton did was no different than what connell did back in 2009 where he wasnt charged with anything, but he had a private email account; right . Heres the big difference. Hillary clinton had a private server, email account off the grounds of the state department. This is when people started using email. So emails werent used back in 2000 and 2001 that much; right . Had it in his office where it was monitored by the state department. And it wasnt that much of a you didnt use it that much back then. That was we should point out back in 2000 it was somewhat preemail in terms of what the government did. So since then, there were all of these statutes where the government has to have control of your emails on certain things, particularly top secret stuff. Liz well, we will be carrying the hearing live tomorrow. What time . Liz i dont think theres an exact 10 00 a. M. We will be following it, charlie. Thank you very much. Charlie gasparino. Okay. The dow has regained a little bit of what it lost. Still up 18 points at 17,899 as the bulls match with the bears with less than six and a half minutes to go before the closing bell. Dont think the british exit still cant drop the hammer on the bulls horns. A big money guru who is going to show you how to freeze the lines of your portfolio and ice out the brexit fall out. Liz okay. So all this hour we have weird behavior. We have three minutes to go before the closing bell rings. Why weird . Stocks are up but so are fear trades. Im talking about gold and treasurys. Who do we ask about this . He runs 88 billion at eaton vance. Eddie, what is going on here . Unusual bit of a behavior, isnt it . It is very unusual. Were seeing a contract of crosscurrents across markets. Other markets are telling us something i think. Liz what do we do . Dow at session highs. Tell me right now, what do you do, knowing this weird behavior may have stemmed from the british exit from the European Union . That may have a longer tail . You have to accept the possibility this is going to have an impact certainly on uk economy, european economy and potentially the Global Economy. Were always defensivelyminded at eaton vance. We want to protect the downside. Now is as good time as any stay defensive with good, Quality Companies with strong balance sheets. That is how were positioned but particularly so now. Liz Quality Companies that do not have exposure to European Union or britain . I think less is better. More u. S. Domestic facing companies i think will be the relative winners here. The trick is, defensive stocks like utilities, consumer staples, telecoms performed well. They have been bid up to very expensive valuations. You have to look for inexpensive defensives. Hard to come by, were finding that is in the health care sector. Cyclical exposure, dont take too much risk, quality oriented cyclical companies. Were finding those in the industrial sector. Liz picking eli lilly as health care play. Crowinger is nice if youre looking at Consumer Companies people actually need to reach out for but eddie, as we have a minute left, tell us what you think happens next couple weeks when volume tends to go down, becomes very, very light . Yes it does. We have earnings season coming up. Well hear from companies how secondquarter earnings. Outlook statements for second half of the year. One thing i fear companies will use brexit and volatility in the market excuse to lower guidance. Blame it on macro uncertainty rather than what is happening in their own business. [closing bell rings] we could have a fairly muted earnings season. Liz i think youre right. Nothing muted about today. Were closing at highs of session. Look out for the fear trade. We hand it over to melissa and david for after the bell. David stocks are reversing course ending the day higher. Dow jones industrials up about 77 points. S p is up and nasdaq bigger winner of all percentage wise. Hi, everybody, im david asman. Melissa im melissa francis. This is after the bell. We have you covered on the markets. Here is what else we have coming up this hour. Political contenders going on offense unleashing harsh attacks against the other. Hillary clinton hits donald trump on his Business Record in atlantic city, for his part, donald is taking on crooked hillary and rigged system. The fbi director is preparing to
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