Congressman brad sherman of california on the trumpcomey soap opera. Arrests at the border hitting a 17year low, migrants shaken by the Current Administration sharp line approach as the president meets with Homeland SecurityRepublican Leaders in dc, work on sweeping changes to policy, one man has decided to walk the 2,000mile long border in someone elses shoes, professor mark cai, this taking oeddessy, the man walking the entirety of that border coming up in 15 minutes, what he says hes discovered on both sides of the line. Hes been on ranches. It will stun you. Amazon made the hitting new highs bring brick and mortar are on ice. Why are not one but two money guys saying not all of the sectors should be left, the amazon proof stock you need to look at. Less than an hour to the closing bell. Stay with me. Charlie is with me, lets start the countdown. Liz we have now have 58 minutes before the closing bell rings. Breaking news, dow and s p are trading and poised to end negative for the week. They have snapped a threeweek win streak, this as Voting Member of the Federal Reserve says he supports two more rate hikes this year and wait till you hear theres risk, just hours ago philly president said the labor market is at full health with very little slack, that means basically any wiggle room while inflation is on track to finally hit 2 and maybe even go through it, two more rate hikes are appropriate and there is not Downside Risk but upside risk. The dow was trading below before he began to speak. Slightly off the lows of the session. S p 500 is down 4 points at 23. 90. Ge is a big drag on the dow, in fact, the biggest tat moment down about two and a third percent. Deutsche bank wakes up today and says we are downgrading ge to a rare sell from ahold. They say the stock is now overvalued so its done relatively decently, now too rich, deutsche says, time to get out. The nasdaq is the only index trying this is as flat as a pancake. On track for a fourth straight winning week. It is winning, we are out of winning streak,ossibly, fourth straight in a row, maybe. Its going to be tough to call. You need to stay with me the whole hour. Lets just talk about apple because it is a member of the nasdaq and s p and of course dow jones industrials, it is hitting a new high today, 155 bucks and 99 cents, we will call it 156 maybe. The iphone maker is on track for third record close this week, 19th of the year. To our nations capitol, the white house needs to continue with the aftermath on decision to fire fbi director james comey tuesday night. Not a quiet evening for the president , one of which went as far as to warn comey about possible recordings of their private conversations. This is white house sean spicer wrapped up a fiery press briefing a while ago and he remained at white house. Talk to us. Blake liz, very few people have warned the fbi, a warning to james comey. The context in all of this, this tweet here in which he said, james comey better hope that there are no tapes of our conversations before he start leaking to the press. That was a tweet from the president earlier today. The context of it all the two telephone conversations and dinner at the white house in which comey told the president was not under investigation. Sean spicer had every opportunity to say no, there are no recordings here at the white house, however, he would not go that far instead watch exchange between spicer and jeff mason for reuters. Predent trump rorded conversations between james comey. I talke tohe president , he has nothing further to add on that. Why did he say that, what should we interpret from that . The president has nothing further to add on that. Are there recording devices in the oval office . Theres nothing to add on that. Blake spicer clearly trying to move on from that. As for the january 27th dinner between the two, here at the white house spicer was asked whether there was audio recording from that dinner and spicer said, quote, im not aware of that. Earlier this morning, liz, i briefly spoke with mr. Spicer, asked him if he was just those two in the room, the president , the fbi director at that january 27th dinner and he told me, that that is his assumption. Liz. Liz blake, thank you so much. Perhaps not as busy as treasury steven mnuchin. It maybe past 9 00 p. M. In italy but with a pitch another the g7 finance ministers under which beijing is apparently going to allow finally much more importation of u. S. Beef while america will permit importing a cooked poultry from china. China will also allow foreign Financial Service firms, read u. S. Like master card to prevent to provide Credit Rating services to the billion people in china. Mnuchin noting that the Trump Administration wants to use this trade agreement as an example of how it will rework other packs and promote more and fairer trade and issue the President Trump heavily campaigned on. Let me get to charlie shapiro. Adam one of the things that they like to point out this is about creating jobs in the United States through free and fair trade deals and they intend to use the announced china deal this morning as kind of a litmus test and guide for perhaps negotiating new free and fair trade deals with new partners. Mr. Mnuchin is also selling the United States tax reform plan and ministers from the g7 have been asking him about that tax plan. Here is a little bit about what he said. I think you probably saw last night we made an announcement of 100day economic plan with the chinese so i think we are very happy with that. Adam now, liz, thats not the only person obviously who is speaking here, not just mr. Mnuchin but the ministers themselves who is are taking time to say, well, you know, the United States and new policies, they need to remember that theyre in a Global Economy and that actually comes from the eu commissioner who deals with trade and tax issues, we spoke with him this morning and here is what mr. Makovici had to say. Americans are free to choose their own policy but i hope that this policy will be International Framework which means also militarism and attachment to trade, and we can discuss but different appreciations but we are in the same world, in the same boat, in a global world and today here we are going to tackle very important issues. Adam liz, they will have more sessions tomorrow again cybersecurity is a big issue that theyre talking about here and then we will get the statement after ward, but theyll be a press Conference Tomorrow afternoon. Itll be very interesting to hear secretary mnuchin as well as the italian finance administrator, the italian hosting this event and then talking publicly because although trade is not on the agenda here, trade and the usas regulatory reforms and tax reform, its a big discussion thats taking place p. Liz specially with brexit and the uk dying to maintain trade relationships, its fascinating. Great stuff. Adam shapiro in italy. The s p 500 on track to snap a threeweek winning streak but theres one sector that you either dont own but might want to look at or do own and youre doing pretty well. Utilities playing offense at this hour. Let me go to Ashley Webster where im sure traders are also wondering why the red on the screen for several days in a row. Ashley yeah, we are stuck, liz, utilities somewhat of a safe play, not exactly very sexy, is it . But the Economic Data has been pretty strong, look at this utility names here as you can see across the board, all showing nice albeit modest gains. We have seen decent economic, the Consumer Sentiment numbers were impressive, retail sales showing for a brighter economy, jobless claims hitting a 30year low, all of the numbers very impressive but the traders hearsay, not a whole lot of anything to move the markets, i think what we are seeing is we are just circling the airport waiting for washington to get its act together and get going tax reform and all of the things that will get the economy going and instead we are talking about the russians and mr. Comey. Liz ashley, thank you very much. Speaking of which with the closing bell ringing in 59 minutes, President Trump coming upswinging this morning at former fbi director james comey and the man at the center of it all, russian president Vladimir Putin so far staying quiet as the political powder explodes here leaving tax reform, plus infrastructure, those plans right now are stuck in the dust, can they emerge . What gopers are doing, what theyre really saying behind closed doors about this and where the democrats try to go from here . Republican congressman keith of pennsylvania and democratic congressman bret sherman of california, joining countdown live in Business Network exclusives in a few minutes here and walking the entire 2,000mile length of the u. S. Mexican border, we have the man who is doing just that and making a documentary about it. Hes about half way through. Professor mark joining us next on what hes learning from those living on the front lines at the border wall site, you have got to hear the story. Countdown coming right back. Dow jones down 35 points. Drive threequarters of a car . Now if you had Liberty Mutual new car replacement™, youd get your whole car back. I guess they dont want you driving around on three wheels. Smart. With Liberty Mutual new car replacement™, well replace the full value of your car. Liberty stands with you™. Liberty mutual insurance. Liz we have breaking news right now coming through wells fargo. It is apparent according to la times which broke the original story an fake account scandal that wells fargo may have actually created 1. 4 million more fake accounts than had been originally estimated bringing the total to 3. 5 million unauthorized accounts, they did this by opening checking and savings and credit card accounts without asking their customers because they were incentivized do this. As you kw,he ceo john stumpf had been booted. I just asked warren. Dont you wonder if there are more time bombs that wells fargo is sitting on and he said, no, i dont think there would be. Hes obviously wrong if this comes out to be true, wells fargo may have created another 1. 4 million accounts, stock is moving lower right now. By about one and a third percent. We are going to watch this closely. Wells fargo still in hot water right now. Let us turn to this, 1,010 miles, that is the length of the texmex border and just about half the length of the entire u. S. Mexico border. Its estimated there were 11 million unauthorized immigrants that crossed the border back in 2015, but while the plans of the border wall are still plans and they are cooling jets on the back burner, apprehensions and arrests at the border are down roughly 9 in just april. Whats it like on the borderline, joining me now in fox business exclusive mark ca cain, walk along on the western part of the border and youre documenting this for pbs, correct . Yes, a film came out last year called the documenting my walk along the texasmexican border. I decided i want to get away and do something which was walk the texasmexico border. I thought it wasnt enough. Liz what i found fascinating is that you decided, you began back in 2015 ll before e ild the wall chants and first lets reach to that point, what were ranchers whom you encountered and Border Patrol agents, you even spent the night at a couple of Border Patrol agents houses, what was their emotions about building a wall . I have to say the vast majority of people that ive interacted along the way have been against further construction of the wall, further militarization, if you want to put it that way. If you were going to take one community out that might be a little for the wall probably the ranching community. Liz i would think so because they discover on a pretty much a weekly basis bodies on their property, their equipment has been stolen, their property is ruined in my regards and when it comes to the bodies, 31 you discovered 31 brods found on one ranch, 17 on another, a total of 6,000 people have died trying, so i would imagine as you now have started your arizona walk are they even more in favor of this wall . Again, most of the people that im meeting along the border between checkpoints in u. S. And checkpoints in mexico have been against for the construction of the wall. Liz but why . That surprises me. Well, yeah, the areas im going into are so remote in many cases there arent any Border Patrol agents right there. Theyre further up. They patrol along roads and places they can access they i think they find it much more effect i have to put up listening posts. I walked through a bunch of those and you can its almost no way to get through there without them hearing or seeing you and i think a lot of people consider that to be a more effective method of controlling immigration. Liz what about this mark that the President Trump, the mere threat, they havent put one brick yet or barbed wire and cement and border crossings are down to a 17year low. Hes able to accomplish what hasnt worked for years and that would be the more traditional attempts to keep people out. What are you hearing about that . Well, i dont know that its quite accurate. When i was coming out of el paso in christmas they were constructing additional wall there. That might have been in place before the election, so there is some construction going on. Yeah, it does seem like a lot of the immigrant families view america as kind of a more hostile place and i think thats having an impact on immigration. I think that might could be attributed to donald trump, yes. Liz you had Law Enforcement the first time around helping you, you are now on it alone. We wish you luck. How are you going to ensure your survival . Well, theres been a lot of close calls. I talk about these in my book thats coming out this fall. I check in when i can, i let people know where im going to be and let people where i will be coming out the other end in remote stretches and if something happens, hopefully theyll come and look for me. Liz whats the name of the book . Itll be border walk, the working title for this fall. Liz please do me a favor, come back when it comes out, thank you very much. I would love to, thank you, liz. Liz mark hainds, he is now continuing the ad say along the border, we appreciate you being here. Its 38 minutes before the closing bill, dow is down 29 points, we will be coming right back with much more. Please dont go away. Unload the fox business app now and stay connected with data. 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Liz the retail ice age that Varney Company coins that you have been hearing about, well, consider it in deep freeze mode right now. We have bigname department stores, macys jcpenney, target, nordstrom, all taking pretty significant plunges here. Jcpenney down 14 . Nordstrom down 10 due to couple Different Things but that underlying sort of what you call it, art world when you can still see when is underneath the actual painting, rise of amazon and Online Shopping leaving shopping malls and anchor stores boeing out of a business or with a smatter offing people. These images on the screen earning title ghost malls. Oppenheimer managing director brian nagel what is really at work here. It cant all be just amazon, is it . No. I think amazon is a big piece of it or a piece of it. Other factors at play. In my view, ive been talking about for a while, we have a sluggish consumer environment. The consumer is not performing as well as one would expect in the economic cycle. On top of that recently, weather, we dont like to use weather, it sounds like an excuse, weather has been a challenge for retailers in part of 2017. Liz i want to challenge you a bit on consumers. April retail sales up but it missed by. To in2 of a percent. Yearoveryear up 4. 5 . Feels like spending pace is up a bit. No jobs have been cut but online is jumping more than a percent as you see. April is a good month. Talking about jcpenney in the opening, was on jcpenney call this morning. They said that they talked about their business through fiscal q1. Got significantly better in march and april. Ifook at april, strength in april. Saw retail sales report or elsewhere, that is another indication of weather. A bounceback in sales as we get more normal weather across the country recently. Liz one of our pictures of the parking lot was on a bad weather day. Lots of gray clouds. It appears the ground is wet. I dont know, i put weather as caveat and put it aside. How about sears and Eddie Lampert . We had jeff flock in the annual shareholder meeting. It was pretty stunning, a, blamed the media for searss problems. He also said we dont need more customers. You as the expert here, what did you make of that . Well, i dont follow sears specifically. That to me is an odd comment for a retailer because in my 20 year