Stunningly, an american who served in afghanistan. This is what we know right now. Authorities have identified mica johnson as the sniper who pulled off the worst attack on Law Enforcement since the 9 11 terror attacks. Thats him on your screen. At this moment, police are searching the home of the 25yearold. He lived in a dallas suburb, heres an aerial shot. Investigators coming in, going out of the house, he and three accomplices, one a female, coldly picked off Police Officers during a peaceful black lives matter protest last night. Authorities say johnson told them, as they were trying negotiate, he targeted police. Thats him. As you see in the highlighted area. Calmly leaning behind a pillar and taking shots at police out of, quote, revenge for two killings of black men by police this week. You see him in the spotlight as you see firing away, he eventually after negotiations broke down was killed by a policecontrolled robot with an explosive device on it. Police performed heroically under fire. Watch this. [sirens] [ gunshots ] our panel of experts here live to take us through the investigation because it is changing at this very moment. The motive and the unprecedented role of citizen journalists and how modern media is playing out and may be even throwing fuel on what already are very hotburning fires. We have this, on wall street, the british exit is quite a distant memory as the Dow Jones Industrial average zooms past 18,000, standing at 18,149. A gain of 253 points after a huge june jobs report. The Labor Department reporting increase of 287,000 new jobs last may. That is way more than the 175,000 expected. U. S. Labor secretary tom perez is here live. What does he see in that number that should leave you to believe the bad news is in the Rearview Mirror . We will ask him. A very busy hour with lots of breaking news, less than an hour to the closing bell. Back to the markets. On top of the breaking news in dallas, a huge day in the markets after the biggest beat for a jobless number since 2009. That sent markets firing on all cylinders, the s p, see this level . 2129 . The alltime life closing high is 2130. Could hit it in this hour. You have to stay with me, the market is charging ahead. That broader index is up 31 point or more than 1. 5 . Look at dow. If we close at 2016 highs, that is a very bullish where are we trading now . 18,145. A nice move there. The heat map is all green on the screen. The leader, dupont followed by caterpillar, american express, apple is way down there but moving to the upside. And by the way, apple helping the nasdaq, too. Like the other two major averages, nasdaq is regaining losses it suffered after the uk referendum doused cold water on tech, charging up 1. 5 , and the nasdaq leader amazon hitting a lifetime high. Financials are showing strength here. If the blowout june jobs number means the fed has confidence to consider another rate hike this year, that is good news for jpmorgan, citigroup, Morgan Stanley, Goldman Sachs everybody moving higher by more than one, but let us get to the breaking news out of dallas. The faces behind the victims are coming sharply into focus. Take a look at front page. Can we go back to that . The front page of the Dallas Morning News is a photograph that is quite riveting. If you are listening on xm sirius, shows africanamerican officer hugging a white female. This is a town that have worked very, very hard to bring police and citizens together and then this disgusting shooting happened last night, while a third Police Officer has been identified as being among the five gunned down. Dallas Police Officers Michael Kroll with the Department Since 2007 and another victim, 32yearold officer patrick zamaripa, a true hero, served two tours in iraq and leaves a wife and daughter behind. Dallas area Rapid Transit officer brent thompson, a former marine, recently married to a fellow Police Officer two weeks ago and thrilled about it. And there is this, last nights tragic events caused both political candidates to Cancel Campaign events scheduled to be campaigned today. Our team is covering all the latest news in the tragic shooting. Adam shapiro has the latest out of dallas. Blake burman in d. C. How the candidates are doing. Theyre changing their schedules as we speak. But let us first get to adam shapiro and the very latest, you can imagine that every Single Police department and fbi agent is working on this one right now . Reporter they are working on this one but to give you an idea of the ramifications of this liz, here in new york city, Police Officers will patrol in tandem. There will not be single patrols for the next couple of days to weeks because of the shooting in dallas. Right to the man that has been identified as the man whos the suspect killed last night. His name, as you said, Micah Johnson, there are the photographs you see. And we do know, this is confirmed by the department of justice, he is an Army Reservist, he enlisted in 2009, served through april 2015. Achieved the rank of private first class in 2010. He was in the component of the army reserve that essentially builds things, carpentry and masonry specialist. He served in afghanistan november 2013 to 2014. We learn this morning that mr. Johnson, identified as the suspect, the sniper, who was killed, early this morning around 2 30 in the morning, when police sent in a robot with an explosive device after negotiations with mr. Johnson failed. Now the negotiations are somewhat disturbing because its from the negotiations we learned that mr. Johnson allegedly wanted to kill white people, white Police Officers, but thats not all. According to the police chief mr. Brown, in dallas, he was not alone. Listen to what mr. Brown said a few hours ago. Through our investigation of some of the suspects it is revealed to us that this was a wellplanned, wellthoughtout, evil tragedy. Reporter want to show you again some of the photographs of the men and people who lost their lives and were shot by the snipers, and i say that plural as weve heard from chief brown. You see there that officer with the other man, that is patrick zamaripa, a navy veteran, served ten years in iraq. And brent thompson, he was married just two weeks ago and Michael Kroll, he joined the Dallas Police force in 2007. If you go to the Dallas Morning News, you can see some of the pictures of the survivors of the sniper attack. One is a civilian, a mother protect her children. That is a tragedy that continues to unfold. Liz . Liz it is unfolding as we speak, absolutely horrific situation, and police chief david brown has been a real hero in all of this. Three of the five Police Officers have been identified. We are waiting on the ids of the other two. As soon as we get them well get them to you. But the tragic events in dallas found their way to the campaign trail. Donald trump and Hillary Clinton have canceled and are rearranging scheduled appearances for the entire day and maybe part of tomorrow while they have sent their condolences. Donald trump took to twitter first in an unusually humble manner he tweeted took hillary two hours to follow but wrote Hillary Clinton, we are hearing, did not cancel every appearance of hers. Blake, as i understand it, she had been scheduled to speak about black lives matter, in the wake of what was the flint that sparked the fire of all of this. Two officerinvolved shootings earlier in the week where two black males had been killed . Reporter thats right, theres a Convention Going on in philadelphia right now. And Hillary Clinton is still scheduled to speak at that convention, we hear, quite possibly in been about an hour or so. That is on. Her official campaign events. Rallies, those are the once called off including that rally that was supposed to take place with the Vice President joe biden. Donald trump canceled his events scheduled to take place in miami earlier today. All across the board, lawmakers, republicans and democrats, calling for unity in the wake of the dallas shootings. Paul ryan and nancy pelosi took to the house floor early this morning. Watch here. There will be a temptation to let our anger harden our divisions. Lets not let that happen. Theres going to be a temptation to let our anger send further into our corners, lets not let this happen. Episodes like this must not harden our divisions but unify us as a country. We are all horrified by the despicable act of violenceand share in the shock and grief. Reporter liz, while Hillary Clinton will not be campaigning with the Vice President today, you can expect that to be rescheduled at some point down the line. You might remember she was originally supposed to campaign with president obama in wisconsin. That was postponed due to the Orlando Shootings and met up with the president on the campaign trail earlier this week. Liz i see. Thank you very much. And by the way, the tweets, in fact im glad you mentioned orlando. I noticed this mayor buddy dyer dealing in orlando with the horror of what happened at the gay bar with 49 people murdered. He has tweeted, were stronger when we stand together both as a community and country, hashtag we stand with dallas and all cities experiencing such difficult times. Trying to bring these things to you throughout the hour. It is certainly captivating the nation at the moment and affecting many peoples hearts and minds. And oddly we also learned Texas Governor greg abbott and the dallas Police Department not oddly, i was going to mention something else. Theyre going to hold a press conference at 5 00 p. M. Eastern. Fox business will be dipping into that and checking to be sure there is news there. Well let you know as soon as that gets up on the bird, on the satellite. In the meantime, the New York Stock Exchange is marking the tragic day in dallas with a moment of silence. This was the scene this morning. Traders often mark these situations with a moment of silence, but theres a real strength and a connection between traders and police. Traders and Law Enforcement. Theres a huge amount of respect. And many of them come from families that have Police Officers in their background, a lot of long island guys. Lot of new jersey guys is of course, having gone through what happened at 9 11, they are particularly sensitive to that. American flags everywhere. Have you this superimposed that has given a boost to the u. S. Markets but the bond market is telling a totally different story about the future. Somewhat of a harbinger what im going to show you. The 10year yield is at 1. 37 . We hit a record low of 1. 2 but the 30year or long bond we need to look at right now. This yield at 2. 10 is very close to the alltime record low of 2. 09 . Thats whats called as it gets closer to the yield of the 10 year, a flattening of the yield curve which is a sophisticated Way Investors are concerned and dragged down than reassured by the positive data. The stock market loves the data. What are the traders saying . European fears, right to the floor show, anything else . Traders at the New York Stock Exchange, cme group and nymex. Stephen guilfoyle, the yield on the long bond, these are two sentiments, are they not . Which one are you looking at . Basically, i tried everything, basically an equity guy, im watching the s p 500. Were at 2130, the daily high, the alltime closing high. If you look at everything, were pricing the fed out. Gold is not behaving like a fed hike is on the table. The dollar is not behaving like a fed shaikh on the table. Even the treasury curve, yeah, its flattening a little but not moving all that much. I thought we saw a greater move this morning before the actual open in new york than the rest of the day. No, i was going to say which is very interesting. I want to bring in larry shover into the conversation, we have completely vaporized the losses from brexit and more. Why . Is it the jobs number . Absolutely stellar, lets not forget what was in the Rearview Mirror, that was a very ugly jobs report . Yeah, absolutely. A blowout number gives us a blowout stock market today. Unbelievable. You think Monetary Policy around the world veering towards exhaustion. Have you aggressive earnings per share estimates for 2017. A lot of it is financial repression, people need to put their money to work. A lot of the money is in the growth not Growth Stocks but safety stocks. We need to earn yields somewhere. So its not because the stock market is necessarily a great bargain because it clearly is not, but looking for yield and theyll do anything for the yield and taking a lot of risks to do it. Liz guys, let me interrupt. Alan, ill get to you in a second. We now have this. Police are saying right this very second that it was a lone gunman. That that person who was arrested, Micah Johnson, the 25yearold, Army Reservist is believed to have been the lone gunman in last nights ambushing of Police Officers. You remember that police had given chase of three people who had jumped into a mercedes and taken off. Well, now fox is told that three individuals currently in dallas pd question while being questioned for prior knowledge, it is Micah Johnson with one rifle, that is supposedly responsible for the murder of five dallas Police Officers, not to mention the wounding of scores of others. This is very, very interesting and a Major Development here. 12 people shot, two civilians, five killed. All five killed were Police Officers. Thats the video you saw the Micah Johnson. Can we go back to that . In action. Hiding behind a pillar in El Centro College in dallas. Calmly picking off Police Officers. And what are we learning from this . We are learning if this is true, perhaps the sources who are telling fox that johnson used at least one Assault Rifle during the attack certainly have the ability to do major damage. By the way, this is a very large crime scene, and were going to be getting much more information, and as i told you, there was a News Conference that will be held at 5 00 p. M. With greg abbott, the governor, and i have no doubt that david brown, the police chief of dallas will be weighing in as well. Let me quickly get back to you, alan on oil. Were straddling two stories. Oil while slightly higher today. What a move earlier this week. Have you brent significantly dropping for the week, because we still have oil markets fundamentals that are bearish and it doesnt appear that those who operate the rigs have found any religion because weve got the rig count again today. Ten more rigs were started up once again. Five weeks in a row where weve seen rig counts build . I agree with you. Bearish news into the marketplace. Selloff from it. But seeing a disconnect from the stock market for quite a while, we were following the stock market going up when they were going up, going down when they were going down. Disconnect today. We came off. Broke into key resistance levels. Were struggling to make a rally out of here. Im looking for august wti, were going to see a lot lower. If we can keep above the 4470. May be heading up to the 50 range. We break that, we may see the high 30s before year end. I want to say prayers to everyone suffering with their losses. Liz stephen thank you, allen. Stephen, you served in the army. You must be very pained by all this. As a marine and soldier both. Liz what do you think of all this . Its horrifying. Heart breaking that a servicemen would turn on his country this way. I understand the frustration with some of the things that weve seen but you would think that a member of the military would have discipline to try to carry on, to bring it to maybe a dialogue, tell somebody hes having a problem, i wish he would have spoken to somebody. Im sure somebody would have talked him out of this. I think as a community, we need to rebuild the fabric of what made us great. We have issues here. Liz to say the very, very least. Thank you, stephen, larry, alan. We appreciate it. Id like to get to this, with the financials showing real leadership at this hour, one of the top bankers, greg fleming, formerly Morgan Stanley will speak out in an exclusive interview on wall street week here on fox business at 8 00 p. M. And stossel every friday at 9 00 p. M. Eastern. Cannot ignore the fact the jobs report absolutely stellar for the month of june. 287,000 jobs created with lions share from leisure and hospitality. Construction jobs were flat but the Unemployment Rate ticked up to 4. 9 . The dow is charging higher by 253 points. But one report does not a trend make, we know that. Lets bring in u. S. Labor secretary tom perez. Welcome, secretary, before we get to the numbers, id be remiss if we didnt ask but your thoughts on this very tough day in American History . My heart breaks for the families. My heart breaks for the community. My heart breaks for the nation. Weve seen this all too frequently. And we need to come together as a nation. We need to make sure we dont simply talk about this but act to build an america. Were all in this together. But my thoughts right now. Immediate thoughts are with family members and we will continue to pray and really come together as one, as we are as a nation, liz. Liz a very tough segue, ill try and do it, to go from a very tough story. Id like to just remember the may jobs report which was downwardly revised to 11,000 jobs created to june, the bar chart is showing a threemonth average, but for june, people are thrilled but hesitant to celebrate. What drove the june number which is hefty . Broadbased, liz, we had growth in 9 out of 14 sectors, including sectors like business and professional services, education and health. Good middleclass jobs. So we saw broadbased growth. As you said earlier, liz, when we have a month where we exceed expectations, i caution that you dont get too giddy. When we have a month like last month where we didnt meet expectations, you never get too down. You want to look at trend data. What the trends show over the course of a long period of time, weve had 69 months of job growth to the tune of 14. 8 million jobs. Liz why the recent slowdown now, secretary . Now we can show the three month average. If you compare it to what was the three month average during the exact same time period one year ago, we were seeing job gains of more than 200,000, and now seeing 147,000. When you look at trend data for 2016. Halfway through the year and average monthly growth is 172,000 jobs. The closer you get to full employment, you end up with a tradeoff between the pace of job growth and the pace of wage growth. Seen wage growth over the last year of 2. 6 which is tied for the highest weve seen since the recovery, and wage growth this year annualizes about 2. 8 . So what you tend to see when you get closer to the summit of full employment. Were not there yet, we have more work to do. Youll see slowing in the pace of job growth and increase in the pace of wage growth. We are a long way off. I dont have a crystal ball but i think i dont think next month is going to be as high as this month, and i dont think its going to be as low as last month. Liz okay, thats news, all right. Between 150,000 and 200,000 on average, and again, you look at the broad trend data. First time claims for unemployment. 70th week in a row under 300,000. We havent seen that since 1973. And in the depths of the recession over 600,000 a week. Lot of good trend data. More work to do. This is a resilient economy. We weather a lot of headwinds in this country. Thats why were the envy of the world in terms of strong economy. Liz wed just love to see a better gross domestic product, got to leave it there secretary perez. And our thoughts and prayers continue to be with so many people in dallas and elsewhere. I second that emotion. Tom perez, the u. S. Labor secretary. Dow jones industrial average up 150 points. 250, rather. Dont want to lose another hundred there. Were up 249 right now. Well be right back. Stay tuned. Much more ahead. I accept im not 22 i accept i do a shorter set these days. I even accept i have a higher risk of stroke due to afib, a type of irregular heartbeat not caused by a heart valve problem. But i wont play anything less than my best. So if theres Something Better than warfarin, im going for it. Eliquis. Eliquis reduced the risk of stroke better than warfarin, plus it had significantly less major bleeding than warfarin. Eliquis had both. Thats what i wanted to hear. Dont stop taking eliquis unless your doctor tells you to, as stopping increases your risk of having a stroke. Eliquis can cause serious and in rare cases fatal bleeding. Dont take eliquis if you have an artificial heart valve or abnormal bleeding. While taking eliquis, you may bruise more easily. And it may take longer than usual for any bleeding to stop. Seek immediate medical care for sudden signs of bleeding, like unusual bruising. Eliquis may increase your bleeding risk if you take certain medicines. Tell your doctor about all planned medical or dental procedures. I accept i dont play quite like i used to. But im still bringing my best. And going for eliquis. Reduced risk of stroke plus less major bleeding. Ask your doctor if switching to eliquis is right for you. Liz take a look at this. Weve just gotten these pictures in. Youre looking at pictures of president obama with nato members posing for what they call the family photo in warsaw, poland. The president has a very full agenda on his plate for the next 4278 hours, meeting with the European Council commission, nato sessions, including a dinner taking place. It is the president s first meeting with uk prime minier David Cameron since the brexit vote where the European Union opted to eliminate its relationship with the European Union as a trading bloc. But the president had to quickly shift the moment he landed last night to the horrific dallas tragedy. Lets go to chief White House Correspondent kevin corke in warsaw, poland. Kevin, paint the picture how it all came down last night as the shooting began to develop . Yeah, liz, good day to you from warsaw, poland. Very interesting, josh earnet, the White House Press secretary talked about how inflight, the white house Facebook Page was updated with what had transpired unfortunately in texas, and here on the ground in warsaw, i was up well past 3 30 in the morning. The sun sort of peeks behind the clouds that time morning. Really unusual to be here and see that as it all unfolded. We began to follow the tick tock along on twitter. I can also tell you that the president is here not just to talk about the relationships shared by the United States and other nato members, he had to take a break to address the devastating tragedy that did take place in texas. Today, our focus is on the victims and their families. Theyre heart broken. The entire city of dallas is grieving. Police across america, a tightknit family, feels the loss to their core, and were grieving with them. Reporter president , of course, saying now is the time to pray for the families of the fallen. No question about that. But later in his comments he talked about gun violence and gun control and had a lot of people wondering if maybe the timing was off just a bit, liz. Liz thats always a question, certainly. However, the flags are flying at halfstaff. He ordered them to be doing that, we see them at the white house in that case. Here is a live picture, and you can see its just a horrifying situation here, and im sure it casts a pall whats going on there. Kevin corke live in poland. The closing bell is 28 minutes away. We see a strong market right now, up 241 points. The dow stands at 18,137. Keeping an eye on the s p as well. Number to beat is 2130. Were at 2128. Anything at 2130 and above is a record close. A peaceful protest ripped apart. Marchers scattering as shots rang out. Five dallas Police Officers left dying in the streets. Our panel of experts with the latest on the investigation, possible motive. The officers downed and the unbelievable role of social media both before and during tragic events like this. What role is it really playing . The latest from dallas when countdown comes right back. We are heart broken. There are no words to describe the atrocity that occurred to our city. Reporter im lori rothman with the fox business brief. Stocks are surging after a stellar off the best levels if you can believe it. The star of the show is s p 500 which hit an alltime closing high of 2130 but backed off. That level is at 2127 but up 29 points at the moment. Global retailer gap turning a quarter after posting a surprise 2 increase sales in june thanks to old navy brand. Analysts were expect a 3 drop. Thats a relief to the company after posting a year of monthly declines. Gaps stock had fallen 22 the past three months. From gap to shares of nintendo. The new mobile pokemon game. Well get back to countdown to the closing bell. Year, the amoa your enterprise uses goes up. Smart devices are up. Cloud is up. Analytics is up. Seems like everything is up except your budget. Introducing comcast Business Enterprise solutions. With a different kind of network that delivers the bandwidth you need without the high cost. Because you cant build the business of tomorrow on the network of yesterday. Because you cant build the business of tomorrow but we mean so much more. We mean how can we help . We mean what can we do . We mean its our turn. To do our part. To serve you, for all youve done to serve us. Liz the stunning news just came a couple of minutes ago. That is we learned dallas shooter Micah Johnson is now believed to have been the lone gunman in last nights attack against police in dallas that killed five Police Officers. 12 shot, two civilians, johnson, seen there in highlighted, you could call it citizen journalist or user generated, somebodys cell phone, you can see him shooting away at police. He told negotiators he wanted to kill white people, especially white Police Officers in the wake of two shootings of black people earlier this week. Now the scenes of last night were captured of course by news cameras but very much also playing a part here, bystander phone video uploaded to social media pages. What will Police Officers and Law Enforcement learn from last nights attack through all of this, and could it also play a somewhat negative role in ramping up the heat and the fire when it comes to emotions at the large peaceful rallies. Lets bring in our group of guests, captain chuck nash and former nypd Sergeant Manny gomez and john meyer, sells news and video captured by real people to news organizations, fresco has several owned and operated fox news stations and increase in user activity lately. To you first, captain nash, turns out Micah Johnson, the man who died last night after police detonated a bomb to stop him from shooting at Police Officers was former Army Reservist. What must any of us think about that . And could you tell before we knew his identity, this had to be a very hyperexpert marksman . Liz, he was in the reserves for a while. Did a tour in afghanistan, military specialty was he was a carpenter and mason. He got shooting experience at a gun club where he went and practiced shooting and practiced shooting, so thats where he picked up that skill. I think the army will probably come out when his full record is released and may or may not have had any marksman training at all. I think he was selftaught. The enemy is among us, so disturbing. Manny gomez, you are former nypd and fbi. Let me have you put on your nypd hat here. What are local Police Departments in big metropolises saying, the peaceful rally, show the time line, around 7 00, we have the peaceful rally and shortly before 9 00, the shots began to ring out, and how could police have prepared . Some werent even wearing bulletproof vests . Agreed. These cops had no idea what was about to fall on them, and cops in new york and across the country are thinking could they possibly be next . We are hearing it is sociable to gang up on cops and say cops are doing the wrong thing and using too much force, but now we see five cops totally assassinated, butchered by somebody that is obviously believing the wrong thing. And we need to understand, cops are the first line of defense. They were there to protect these demonstrators that were demonstrating against them, and in turn, this butcher gunned them down in cold blood. Liz look, it is so horrifying, john meyer, but you could argue that the protests which brought the situation, certainly if not to a head to a greater groundswell were sparked by citizen journal video from a couple of days earlier. You had two separate incidents, one in baton rouge monday and one in minnesota tuesday involving two black men who had situations with the police. Both of black men ended up being shot and killed. Circumstances are still not figured out just yet but that video, and some seen here, from the minnesota situation, immediately was either streamed live or put out there, and then you have the protests and then you created a very fertile atmosphere. What do you say as a guy who really is an area that culls this video about the situations . First of all, what went down, especially in dallas was incredibly unfortunate. Due to one extremely radical person among a group of thousands of peaceful protesters. But when it comes to citizen journalism and social media, what this has done in the past week is provided an abundance of information, transparency and really its empowered these regular average joes to be National News liz im sorry, i feel compelled to explain, this is the monday situation. Im sorry it doesnt say monday on it. That was the monday situation where alton sterling was shot and killed in baton rouge. There are the events if there wasnt a citizen with a smartphone present, we would not be talking about it. Whether or not these events would make it to mainstream media. Liz but a smartphone was present. Thats why the present of social media is incredibly important. Liz captain nash, what is the next step here . We see these things playing out in cell phone video, look whats on the screen. You have Police Officers who are moving people back, as theyre take fire. Theyre getting people away from the cars and saying get back, get back. Yep, i think one of the things we need to look at and reassess in this country, were all about and told we should be celebrating diversity. Why not start celebrating our common bond as americans . When we celebrate the diversity and find that Community Organizing differences that plays off to the will of politicians who want to capitalize on that for political power. Were not doing ourselves any favor, and you start the false narratives where people who are a little mentally unhinged like this guy probably was, picks up on the false narrative, the anger and acts out on it. Maybe we ought to think about common decency and common good and bonds as americans. Liz we could only wish. Quickly, manny, the discontent seething under many different cities here. What do we do . Well, i think these videos are a tremendous harm. They go out and right away people think the worst of the Police Officers involved. So these videos are acting as judge, jury and executioner for the Police Officers. Liz then why do police want more clippon video cameras . Isnt there a Movement Toward that to make sure people see what happened . The moechl at least in new york city is mandated by federal law, by law. So the Police Actually dont want the video cameras to hamper their job. They already feel scared. They feel intimidated. They feel bullied by the nation as a whole that all of a sudden for the last two years turned against them and the good work were doing. Liz quickly, 10 seconds here . I dont think decreasing the amount cameras will do much. I think increasing the responsibility of the reporting with the video contact is whats important. Liz there you go. Agreed. Plenty of police doing positive things, even the events yesterday. Liz thats why i wanted to make that point. Thank you to all of you, captain chuck nash, manny gomez and john mayer of fresco news. Not quite at alltime high for the s p. 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The market likes the notion that Philippe Dauman will not be ceo of viacom. All sorts of talk about the sale or not sale of paramount and whether hes forced out immediately by Shari Redstone and sumner redstone. From people close to dauman, hes likely to exit the firm even if he gets done what he wants to get done. One of his big corporate legacy items to sell a big chunk of viacoms paramount unit. This is a huge political football going back and forth. One of the reasons the red stones want him out, he wants to sell paramount sumner and shari, the owners of viacom, i guess theyre the owners. Liz they have the largest financial share. Not to do it. Thats the reason they want him out. This is from people close to him. Im going to give you the banners. This is moving the stock right now. He plans to step down what people are saying sometime after he sells it, if he sells it. We should point out this is an if, the deal could materialize in the coming weeks. Its a big if because unless he can win in the court battles. This is wrapped up in court. Hes suing the red stones, theyre suing him in massachusetts and delaware state court. If he cant settle, hell be out. These are people close to viacom. Viacom spokesman had no immediate comment. One thing that was made clear to me from the people chose to dauman. His board supporters look to have him leave on a high note. They would like him to leave by selling this thing and think its a great deal, good for the bottom line of viacom. Liz and high note is a tough one to push because viacom, when you compare it to cvs or twentyfirst century fox or comcast which owns nbc. Those are all the players, we had a chart of that, i cant see it because im looking at the camera. Lot of interest from a lot of places. If he can do it, and remember, its wrapped up in court because his future is wrapped up in this court case with the redstones. Those are some of the players that are thinking of buying it. The potentials, dreamworks, amazon, interesting, apple and 21st century. Apple because they want to get original content. Liz would and make sense, alibaba had a huge cash pile, and boy do they want to get into original content in media. Heres why the market likes this, i dont know why the market likes, this no one has a magic bullet how to fix old media. The market likes dauman leaving. If you like it, buy the stock. Heres what i do know. May not be leaving tomorrow, but what his people are saying, hes leaving soon and one of the pressure points will likely be after the paramount deal, and why would he leave after his success . Hes gotten the you know what kicked out of him royally and the company hasnt done well, but they want him to leave on a high note. Thats what im hearing from people close to him. Liz as viacom jumps so do the markets. Up 244 points and marries perfectly with outsized jobs report. The june jobs report. A build of 2 87,000 jobs. 110,000 better than expected. We have christmas in july right now. The markets have erased all their losses. They incurred after the uk vote to leave the European Union. Remember that 900 point two day drop . Gone whats lurking for investors into earnings season. Joining us along with charlie is mark and john lonski. John, do you believe this number . It is a good one, a great snapback from ugly may. Is it more of the same for the future . We had the labor secretary say july jobs report may not be as good as this one but wont be as bad as may . Hes exactly right. I think the june jobs report overstated fundamentals just as may understated fundamentals. Average the two and were looking at 150,000 new jobs per month indefinitely. Are you okay with that number . It doesnt sustain. Yes, i am, i think the market likes that. That particular number is not Strong Enough to bring a rate hike into play. Fed funds futures doesnt see a rate hike through june of 17. Liz starting next week, mark, we get earnings reports out. People can underpromise and overdeliver or the opposite. What are you expecting here . And do we see a market grind higher or drop . First of all in the earnings front, liz, i expect the usual mo, the fact that companies have sufficiently lowered the bar such that the beat ratio will come out three out of four Companies Performing what the market set to expect for the earnings. Expectations on earnings on a yearoveryear bases to be down, that would be the fifth consecutive quarter of declining earnings which is unusual outside of a recession. So a lot of pressure on the back end of this year, relative to earnings. That said as it relates to stock prices, i think we see more of the same which is the tina principle being invoked. Today is a classic example bond yields lower, treasury drifting lower on a risk on day, and you see utilities and bond circuit sectors performing well along with the cyclical sectors. Liz by the way, we have a very, very low 30year yield at 2. 11 . Were almost at an alltime low. Folks i want to point out. We are at this moment literally just tiny fractions below the alltime record close for the s p. That record close is 2130. 82. Were at 2130. 18, charlie. Amazing, i hate to keep bringing this back to politics. There are is a political element. This is good for Hillary Clinton, and john can talk about this a little more. If the economy is going to grow slowly but plotingly forward, you know, the question is do the American People really roll the dice on donald trump . And, you know, im for his economic policies but im saying as a predictive measure, generally a growing economy, if its crummy growth were getting now, its good for the incumbent party. Liz john lonski, im sure youve ready multiple of history books, when do voters make a change considering we might see a better number here and there . You know, liz, were getting jobs growth but nost the highest quality. Throughout the recovery, jobs growth has been geared towards the lower paying jobs, higher paying jobs have been left behind. We have a low Labor Force Participation rate, charlie is talking about 2 growth. That sounds decent. But if the economy continues to grow at 2 annually. That tells me that jobs growth is going to come in under 150,000 new jobs per month. I think theres a lot of dissatisfaction, and that could influence the election. Liz knowing that, mark, what do you buy here . The financials are looking strong, there is the potential of a tiny rate hike, at least one the rest of the year. Im not betting on that. You see whats working now that is the fact that you have the bond surrogates, sectors like reits, like telecom, like health care, that continue to do well because again, the thirst for yield is unquenched and the companies can offer Capital Growth over and above what youre likely to get in the bond market. Liz great to see all of you, mark, john, charlie. 4, 3, 2 seconds away from the closing bell. We are near alltime highs for the s p. The number to watch, 2130. 82
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