Good job. It then the past hour he has invited him to a Senate Intelligence meeting next week. This is really starting to ramp up. The surprise removal setting up a firestorm of criticism. But what does the former trump supporter say now . He is a man of integrity into here. They demand the special prosecutor. And the republicans saying it was long time coming. Fair and balanced. In the democratic congresswoman Sheila Jackson lee. They will gain what happens. One woman is pressing on. The allergy kit founder. Known as the Aaron Brockovich a food allergy. It still cost too much. Tell us exclusively whether she enter Group Support the house healthcare bill. You see them down 50. Maybe tentative. The nasdaq was on track for its fourth Straight Record close. Lets start the countdown. We have this breaking news. The upheaval in washington is doing nothing to halt the nasdaqs recordbreaking climb. More than any other index and we still are not flowing down. It has been quietly happening but the conductor has been spiking. Its up 60 year over year and then you have the video game makers doing beautifully. Right now with them up eight points. Any gain present at another record. We could point to disney and boeing dragging it down. Specifically disney. A hundred and 9. 43. Its this concern about espn. What was the cash cow is in the middle of management upheaval as it struggles with more viewers cutting the cable while the price of a sports programming keeps spiraling upwards. Its really hurting espn. Its never going to be good for you when you overpay. Next x cant chill. It is up nearly 2 on pacer for pace for a second consecutive record close. With the new season of orange is the new black. And master of none all coming out in the next two months. Pretty good for netflix. The tornado of controversy over the firing of james comey almost seems to be increasing and ramping up in washington. About 40 minutes ago we told you that they defended the president s decision. She is the word atrocities and said these atrocities circumvented the chain of command. Some people are thinking i think its a bit hyperbolic. You also ask whether the uproar could derail the white house entire agenda. Heres what blake got from them. See make an surprised it did create a divide. Since they were calling for director james comey to be gone. And i think dont think it matters what they say. I think that as one of the things that is wrong with washington. And its one of the reasons that we have to get back to focusing on those issues entering into the swamp draining the swamp a little bit further. The chatter about the replacement is always already underway. A nomination could be just days away. We put them up on the screen. The former new York Police Commissioner he is a former prosecutor. We have the new jersey governor been floated. Today, the waters would just got rougher in the last hour when senator mk en said he invited him to a private meeting next week. Welcome senator. Thank you for being here. I do appreciate you coming on because we were hearing earlier today that the reporters were jumping at you and you said i will make a comment later. Youve chosen us to make that comment. More importantly let me get your reaction to the firing back in october you are saying that the director should be removed from office anyway. Let me get your reaction to that firing back in october you are saying that the director should be removed from office anyway. I think he has been controversial over time. Whoever was pointing out just a few months ago on the air this has come from the democrats and republicans. He has sorta been theatrical. I think hes taken positions that were not within the purview of the fbi director. More appropriate for the attorney general. They had been able to take office. There were many reasons why people on both sides of the aisle had doubts about the temperament of jim comay for this position. Here is what is raising more than few eyebrows. They had showered praise a few months back for having the guts to reopen the investigation into Hillary Clintons use of the private email server. The timing is upsetting them. What do you say to that. I think the important thing is for the investigation to go forward i think we need a neil gorsuch type of person for them to bring forward. Impeccable credentials and experience and i think once that person gets in place if it goes forward as it should go i think this hysteria in the tornado as you mentioned will come down and move on to other things. Would you give continued supports. I would hope that the acting director would continue with the investigation i would call for him to appoint someone with the bipartisan support. Someone who is beyond reproach. I do not know him. I cannot comment. I take its important that this persois someone who is determined the republicans and democrats they have confidence in. I think we will be all right. You mentioned that you felt like he didnt have the right temperament he has worked for both democrats and republicans. And up until the situation that he found himself in i think a lot of people would agree he did not handle it properly. But now you have former trump supporter who is a billionaire hedge funds guy. He was a donald trump supporter. He specifically mentioned that he really stuck up for james comey. He supported him and said he was a man of integrity. I have not read the suite. There have been numerous occasions overtime including last july including last october when the director of the fbi should not had called a press conference should not had jumped out in front of the issue as he did. And instead let the attorney general take care of issues within her purview. Liz senator, thank you for coming on with us. We like to invite you again. This is going to take some time. I need you to hear the next interview. The president s sudden dismissal of james comey has deep constitutional concerns. With russias interference. In the 2016 russian election. Before that months ago. While taking republicans to task. To ask the doj to prosecute. Regardless of the facts so they have engaged in a daily ritual of holding hearings. And your recommendation. And we have the congresswoman from congresswoman from texas with us now. Take you for joining us. Is it is a pleasure to be with you. Given the earlier outrage the 1h hour reopening. Which even Hillary Clinton now says under the chance of the presidency explained why youre upset about his firing. I will own up to the fact that the actions and his october surprise totally derailed a forthcoming victory for secrety clinton. Inot going to run away from the truth and then do i think any democrats are running away from the truth. We were appalled and continue to be appalled. The fact that he have knowledge of the fbis investigation into the russian probe not to give any facts but just indicate that it existed and he never did so. Putting that on the table and owning up to it its sad that it said that the republicans cannot own up to that. And frankly on the verge on the constitutional crisis. If you lead the memo. He said the fbi director is an articulate speaker and we thank him for his service. And then he said he was disappointed where he acted inappropriately of course he did by making the announcement in july but what he said is that he did not allow the decision to go forth. So this is a no gift to secretary clinton. Let me jump in here billy quickly Sarah Huckabee who i just would just spoken she is in for sean spicer today at the press briefing she said she was surprised why arent democrats celebrating. That this guy who you say really kind of derailed Hillary Clintons chances is now out . The reason is because democrats know how to govern we dont just act act politically. We made the point that we own up. At the same time we are huge committed. That is an active investigation that is really beside the horrible Health Care Bill is front and center in american peoples mind they know that there is a russian probe going on regarding the collusion or alleged collusion or activities of those and president Trumps Campaign and present trump himself and those who may be in his administration. That should go forth into our concern is that after his testimony last week that may have been offensive to the president where he said he was mildly nauseous when he determined he might have steered the campaign he did make it clear. It was a vigorous activity going on in the fbi. I have to assess question before we go. Will they use this to slow down governing the president s policies. Are you going to turn this into an append event. I know there are senators who are looking to do so. The committee has been completely silent on the house side. I think we should have hearings and call back the citizens. I also believe as democrats have sent a letter to the Deputy Attorney general asking for all files to be preserved. And also all files to be preserved regarding the determination. In terms of the dignity that he deserves. Im very appreciative that we have you on. Thank you so much. We have the dow down 43 points. We are coming back with much more. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. It can provide what we call an unlock a realization that often reveals a better path forward. At wells fargo, its our expertise in finding this kind of insight that has lead us to become one of the largest investment and Wealth Management firms in the country. Discover how we can help find your unlock. Tthats why at comcast,t to be connected 24 7. Were always working to make our services more reliable. With technology that can update itself. And advanced Fiber Network infrastructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. Healthcare is lagging as investors are very concerned that any reform may be delayed following that. A lot of democrats are going to be looking to try to move the focus to a special prosecutor opportunity. It is up right now we had oil up 3 in the aftermarket session. The crude stockpiles is hereby. Higher than expected. As the biggest one week drop in inventory since december. It was a drawdown of 5. 2 million barrels. What you pay at the pump and maybe your investments to the floor show. Stephen short. Stephen first to you this drawdown is quite dramatic. The expectation was to see a drop. Its virtually impossible to be able to gauge this report. Lets take this report as a one off. It would likely get through the next couple of weeks. We cannot get too excited about this report. What we do get excited about is following the trend is to say that 12 straight months now the crude Oil Production has increased. We have not seen that. At this point the demand is already being muted by the rise in output. Getting where that report is. They produce at or near a record high. At the end of the day they are still putting oil on the markets. What is driving the dichotomy between a stronger nasdaq will see may maybe a fourth record in a row. The volume is reeonon the upside. Its an indication of what boeing is doing. Other than that the markets have been kinda flat. If you released earnings today you were rewarded or you are punished. There was no in between. You see the huge moves going on. When we sought 43 in change. We see a pretty good bounce back. It may stall here. Still here. And it may trend lower. Is that a technical term. Good to see you. Thank you so much. A brilliant short report. The closing bell 37 minutes away. You see a split here. Between winners and losers on the dow jones industrial. They were showered with multiple upgrade. It is going to drive sales into 2018. That is a real change the iconic american stores. They are struggling with an epic fall from grace. Jeff block here at the sears headquarters and is the new battling effort. We will have the story in a moment. The bottom line is, for your goals, this is a strategy id recommend. This actually makes sense. Now on the next page youll see a breakdown of costs. What . Its just. We were going to ask about it but we werent sure when. So thanks. Yeah, thats great. Being clear and upfront. Multiplied by 14,000 financial advisors, its a big deal. And its how edward jones makes sense of investing. Think your Large Cap Equity Fund has exposure to Energy Infrastructure mlps . Think again. Its time to shake up your lineup. The alerian mlp etf can diversify your equity portfolio and add potential income. Bring amlp into the game. Before investing, consider the Funds Investment objectives, risks, charges, and expenses. Read the prospectus carefully at alpsfunds. Com amlp liz i get sad talking about sears. My mom when she was a kid used to order shoes from the catalog, one pair a year. It is icon of retails old guard. Holding a annual meeting a the Company Faces dire straits. Some believe this could be last gathering of its type with sears acknowledging substantial doubt that it can continue. Look at stock of sears holding, right now up 7 , but down dramatically. This is fiveyear chart. Steady decline with stark contrast when sears was a retail gem, headquarters in what was the worlds tallest building named after it. Jeff, you to the into the shareholder meeting. What is the move what is the headlines. Reporter they didnt let any cameras in, liz. I tell you, the reason they didnt, Eddie Lampert went on a tear, sounded trumpian in his excoriating of news media just what we have done, which is to say how bad things are at sears. This is just killing us. It is not fair. It is not balanced. Here is one of the quotes. Just the opposite of what you get on fox. Coverage has been completely unbalanced and unfair. As soon as we start making money people will say how did i miss this . Well, soon as they start making money, maybe people will get on board. They havent made money in very long time. He said all of this negative press has contributed to the difficulty of sears doing business with its vendors. Theyre get being squeezed by the vendors. A quote from Eddie Lampert who said as a result of all this bad press coverage, we have been taken advantage of by our vendors. Theyre squeezing us for better terms. As you point out the stock is up 7 today. Maybe this new combative Eddie Lampert will be a boon to the stock but you know, we said another thing, after which he said, i assure you, im not in denial but he said, i quote him again, we dont need more customers. We have all the customers we could possibly want. What he was referring to there, liz, people said what . He was referring to that shop your way program. It got all the people signed up. Its a great program. We just need to get people to buy more stuff. We have plenty of customers. I dont know if everybody would agree with him on that one. Well try to be more positive if we can in looks at sears. Theyre not bankrupt yet. Liz is it media people are not walking into a tired display store . Im sorry, that is, im stunned Eddie Lampert would say that, only because this has been more than 10 years ive been covering sort of the very slow motion accident that has been sears but we used, when i was at the other network at cnbc, people would go on and on what a genius Eddie Lampert was. We gave him great press back then. Reporter maybe he was at one point. Liz okay. Reporter he admitted we gave him plenty of ammunition to shoot back at us. Until we start making money they wont but the thing is theyre not making money. Liz jeff, thank you. We would cheer them on if they did. Go sears. We like to see successes. Closing bell in 29 minutes. With the comey flap, paul ryan is trying to remain on track. Well tell you what he is doing in ohio this very second. The house and president may have taken the victory lap in the rose garden passing revised Health Care Plan. Burning issues remain, like crazy high drug prices. Well take that up exclusively with the woman known as Erin Brockovich of food allergies. She has concerns about the skyhigh costs of the lifesaving epipen. She joins us next on countdown. What if technology gave us the power to turn this enemy into an ally . Microsoft and its partners are using smart traps to capture mosquitoes and sequence their dna to fight disease. There are over 100 million pieces of dna in every sample. With the microsoft cloud, we can analyze the data faster than ever before. If we can detect new viruses before they spread, we may someday prevent outbreaks before they begin. Liz just about everybody in washington, d. C. Is going nuts over former fbi director comeys firing, either for or against. House speaker paul ryan, look on your screen, he is fighting to stay the course, keeping focus or trying to on economic issues. These are live pictures of speaker ryan. What he is going to do meet with local Business Leaders in columbus, ohio, to discuss tax reform. The roundtable discussion is taking place as an effort to shore up public support for one of the republicans key signature issues. Well break in with any developments coming out of the meeting in central ohio. Stay tuned. Another huge issue in america, the rising cost of prescription drugs. Remember mylan, the company that jacked up the price of its lifesaving epipen by nearly 600 . Mylans earnings beat analyst expectations today, despite decline in the epipen sales the outrage over Mylans Epipen price hike started to resurface again it has revealed mylan chairman robert cory, received a golden parachute payout, exit package of 97 million. Robin obrien is known as the erin Erin Brockovich of food allergies. You revealed the skyrocketing price of epipens. I saw this i cover big pharma, its a way bigger exit package than big pharma ever gives its top executives. What do we, what are we to think about this as they jacked up the price of epipen . Not only did they jack up the price of epipen 600 , 17 times over 10year period, liz, the other thing this guy oversaw congressional investigation suddenly went quiet. We have medicaid and Medicare Fraud that occurred. We have lawsuits, class action lawsuits aiming at this company right now. So you know, maybe he earned it, maybe he didnt. There is a lot going on there. I think what we need to do now, take a lesson out of wells fargo book you need to disinfect the board. Three Board Members stepping down amidst. One is being investigated by the sec for real estate deal he did with mylan. The other thing that cory did was he executed the tax inversion relocated mylans headquarters overseas to avoid paying taxes here in the u. S. Meanwhile he executed this Business Model on the backs of American Families and specifically on the backs of american kids. Liz both you and i have, your child, and my nephew have fatal allergies. Throughout my nephews entire life, weve all carried epipens, at every place he could possibly be, because if somebody breathes on him milk, my nephew, he could die, if he doesnt have that epipen. It is stunning to me that this is still going on. I just came from the Berkshire Hathaway shareholder meeting. Berkshire is wells fargos largest shareholder. What Warren Buffett said, he understands the first mistake. It is the second mistake that the second the ceo finds out this is happening, there was no discovery. Heather bresch was one that drove much of this, then you fix it. Especially if you have a pr maelstrom going on here. What do we need in the Health Care Plan that the house just passed, that the senate may change would maybe keep this kind of thing in check . First of all i dont think it was mistake on the part of mylan. This was very intentional to jack up price of these drugs on kids. When it comes to Companies Like this one monopoly in place. Barriers to entry are very high. Companies trying to bring autoinjectors on the market, was restricted mylan filed lawsuits for patent infringement. Everybody day they were able to delay another Company Coming on the market they earned an extra 3 million. They used the legal courts to try to prevent and block competition. So i think, if were going to have a competitive marketplace, keep prices down, there has to be lower barriers to entry. When you buy a shirt or car or Television Set youve got choice. In drugs, for example, we dont have the same choice. We need choice in the marketplace to drive liz fdas feet to the fire . We have a brand new epa chief who is getting really strong marks, certainly from the gang over at the wall street journal i watch ad whole show where paul gigot on the weekend saying this guy is definitely somebody who will fast track there are dangers in that. There were generics that just couldnt get pushed through. Im hoping Scott Gottlieb makes this happen. Interesting, Scott Gottlieb has preexisting condition. He is a cancer survivor. He has been an investor. He has been a consultant. He has been a board member of many pharmaceuticals companies. He is an insider. Knows how this works, just lining hank paulson was insider for banking came on as head of the treasury. Not unfamiliar. Weve seen this pattern before. Again what is absolutely required in line weve experiencing skyrocketing prices for insulin and other drugs, you have to lower barriers to entr to have healthy marketplace and healthy competition. Liz mylan is flat for the stock. Im sorry, i dont mean to throw a wrench into the picture, can we put up that 97 million exit package up one more time . This to me is stunning. This is way bigger for compensation than most fortune 20 Companies Ever pay. Mylans market cap is so much smaller. We put in multiple requests, robyn, to speak to mile lan. They only talk to the other buys because they feel i will be too hard. Really disappointing. What you have to remember, liz, epipen represents 40 of their operating profits. The way they do that jack up the price of this drug. Then their margins are just massive. With the margins theyre able to drive this profitability. Lets have transparency to do that. Do further investigation. Congress got stuff started. There is the legal action, sanofi class actions. There is more to come in that closet. Investors would be smart to do what wells fargo did, clean out the board and start over. Liz robyn, youve done yeomans work for people with allergies. Thank you, liz. Liz tweet to me what you think about the high price lizclaman. About the epipen. Any gain in 17 minutes for nasdaq would be the fourth record in a row. Coming right back we have charlie gasparino. Liz 13 minutes before the closing bell ring. Even some of President Trumps supporters on wall street and connecticut, which by the way is the hedge fund capital of the world are speaking out against his firing of fbi director james comey. Usually very quiet billionaire ray dowdy of bridgewater, supporting President Trump comparing him to Margaret Thatcher and Ronald Reagan is singing a different tune. In a rare tweet, he said of comey is a man of high principles operating in a low principles environment. Heros typically get crucified and martyred in the end. He did. Alio went on to say that comey he deserves thanks instead of scorn. Full disclosure. Comey used to be the general counsel for bridgewater. Liz we knew that. Right. Liz the fact that ray dalioo was sported President Trump would raise the animal spirits. They are friends. I agree to that with certain extent. The tell whether he loses his money backing will be, will be carl icahn. If you see carl in any way distance himself and all sorts of rumors that he is now, he hasnt been much in the policy debate at all, we have asked carl is he distancing himself from trump, he denied it vehemently, any of that ever turns out to be true, carl was the first major one and steadfast one, well that is when you know that people are running for the exits. Liz youve got breaking news . Well, this is what sources are telling the Fox Business Network regarding the controversy that never seems to go away president obamas 400,000dollar speaking engagement with the wall street firm Cantor Fitzgerald. What sources telling fbn, that Cantor Fitzgerald is eyeing bringing in to balance out the ticket, a Trump Administration official. Liz at their big meeting. At their big meeting this is a fall conference that involves health care. President obama obviously, his signature achievement as president was obamacare. The, wasnt quite socialization but it was mandate of insurance that everybody in this country should be insured. It is now a big controversy since the republicans want to do 180 on it, repeal or replace it, at least replace it this conference will be heavy on that. What is going on at this conference, this is where bankers and traders figure out the business of health care will be and how make money from it. Obama will give insight to that and maybe stick up for himself. We understand officials at Cantor Fitzgerald right now are eyeing someone from the Trump Administration to balance out the ticket. We dont know if he speaks the day before obama, or she will speak that day. We dont know who it is. We do know theyre trying to arrange, they are talking to and trying to arrange somebody to balance out the ticket. Someone from the Trump Administration. Liz they cant get paid. Somebody who is in the government, cantor pay them. I dont think so. But you, you know, who knows, maybe they get liz wait, president obama is getting 400 grand. Maybe they get art laffer or some conservative economist to balance it out not getting an official from the administration. That we clearly understand what their intentions are. I called Kantor Fitzgerald on this. They refused to confirm or deny it. They are not denying it. Usually we get a good read from those folks, are you doing this would say no or yes, in the case of what went on with president obamas speech which they have since totally confirmed. Howard lutnick, ceo of Cantor Fitzgerald. Howard is smart enough to know, knowing him, that it is good to have a baland ticket. Liz absolutely. Especially on wall street. Tough deal with the Trump Administration as much as the obama administration. You dont want to be on the wrong side of the Trump Administration. Liz it makes for a better meeting. You can make a decision on investment. Not only that, by the time this Conference Goes in september, obamacare could be replaced with something else. So why not have someone in the white house explain how it will be replaced so your bankers can make some money on it. I will tell you this, liz, you know, i dont follow the story we broke the story. We kind of do what we do around here but this story is neverending. Liz can you imagine september . Big deal. It will be a big deal in september. Liz you broke it here first. I dont think they will he let us reporters in there. Liz can you put on a disguise or something . I will dress up like you. Put high heels and red wig. You think i would look all right . Liz you would look beautiful, darling. Ever see my legs . Liz no. And i dont want to. Look at this. Oh. You can brave that. Liz not taking a shot of this . No, no, dont do it. Talking about showing a little leg. Liz the control room, everybody is grabbing trashcans right now. Closing bell ringing in seven minutes. Liz snap, inc. , first ever earnings results. Th who knows if they earn anything. Snapchat face filter, something that chaie you and i clely worked very hard at. I thinwe look really good there. Will it speaking investors. Ah liz well see. Jeff sica on the floor of the New York Stock Exchange trader coming up. The comfort in knowing where things are headed. Because as we live longer. And markets continue to rise and fall. Predictable is one thing you need in retirement to help protect what youve earned and ensure it lasts. Introducing brighthouse financial. A new company established by metlife to specialize in annuities life insurance. Talk to your advisor about a brighter financial future. So we need tablets installed. With the menu app ready to roll. In 12 weeks. Yeah. The world of fast food is being changed by faster networks. Data, applications, customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Fast connections everywhere. Thats how you outmaneuver. Liz snapchat parent snap, inc. Will release quarterly result. Fox business Parent Company twentyfirst century fox is set to report too. What should you watch for, lori rothman . Both companies are down during the regularrers is regular session. What to watch for with snap, the active daily users. We know back in the fourth quarter, we dont have First Quarter data from snap, 1,158,000,000. Instagram rival of snap has 150 million active daily users. Liz jeff sica has consumer focus companies. First question mention of the markets. Nasdaq may see another record close. I think now were getting another record. We have a lot to digest. There has been a lot of rhetoric. You mentioned animal spirits. Theyre definitely alive and well. Now we have to see some of these expectations come to fruition because the market needs, the market needs some stability and it needs a catalyst to move forward. Liz but jeff, youre right. We need some of these things to actually come to fruition, but now weve got the comey drama. Youve got all kinds of blockades it feels like things that could pass like infrastructure. Right. Liz are we seeing problematic perception here . Consumer confidence poll gallup put out, people losing confidence. Not to say theyre not optimistic, but more time that passes these things dont come to fruition, more likely there will be a loss of confidence. So things need to happen now. Liz what do we buy, knowing there might be a gray cloud over the markets . I especially like two stocks. I like disney. Liz buying it on sale, down 2. 25 . Im buying it now. They just opened the theme park in shanghai. That is an experiment. I think it will do well. I think disney owns content. I think they have enhanced their distribution of content. Think they will do well. They did well with beauty and the beast. They have pirates coming out. I think they will do well. I also like marriott. I like them so much were building a marriott in new jersey, a luxury marriott. I feel good about the company. Liz wow. Marriott after the acquisition of starwood a lot of those acquisitions dont turn out well. They acquired starwood. Revenue up 50 . 6,000 properties in the portfolio right now. Theyre beginning to enhance their ability to book rooms at quicker pace. I think theyre firing on all cylinders. Liz folks, he is pulling a you buffett. He buys when people are selling. Disney is down but i think that will come back to rear its head once again. Jeff sica, circle square. [closing bell rings] the dow was down 91 points. It is closing down 31, but nasdaq, you can call that a record, fourth in a row, up about eight points. David and melissa, you have some big earnings coming up. Melissa dow sinking in the final moments of trading in the red for the second straight day. Not so with other major averages with nasdaq closing for a brand new record high for the fourth day in a row. Im melissa francis. David when we started out thinking the comey business uld send markets tanking. They certainly didnt do that day. Im david asman. Thanks for joining us. This is after the bell. We have a busy hour. Were waiting First Quarterly report from parent of snapchat. President s sudden firing of fbi director james comey sending a lot of shockwaves through d. C. Yes, sir questions remain
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