The two are to talk about business ties and latest threats posed by north korea and, yes, china. You can see hes pulling up right now. The Prime Minister of vietnam about to get out of the car. President trump waiting r that moment. But as we do wait for that Prime Minister to come out, here is the statement the white house is saying it will refer all questions about russias probe to trumps outside attorney. That is the news at the moment. Now, why . Because we have the news too that we do have james comey, the former fbi chief who was fired by President Trump saying he will testify publicly, specifically before the Senate Intelligence committee. He says President Trump asked him to back off of the flynn probe. These will be comeys first comments since the fbi director. On top of it, we do have the Federal Reserve making news too that it sees signs of a tightening job market, even more so in many parts of the country. And the beige book, which leads to more speculation that a june rate like is on the way. And plus financials are on a positive note. The dow is down 33 points. So if youre planning to sell in may, you have less than an hour to do it. Last trading day of the session here. Heres where we stand. The Dow Jones Industrials down 30, the s p and nasdaq, which is all the averages with a more than 2. 5 gain for the entire month is currently trading down 15 points of a quarter of a percent to 6,187. Now, as we mentioned, were looking at the banks at the moment. Theyre dragging these markets down. Goldman sachs once again the biggest lagger on the dow, it is down three and twothirds percent this week. Not only that it faces criticism for the bomb purposes, concerning there are huge rights going on in venezuela. But the jp morgan and bank of america both sigl today th theyre warning this quarters low volatility is hurting trade revenue, and it may affect earnings for q2. As you can see jp morgan down 2. 5 , bank of america down nearly 3 . Can the retail ice age causing michael kors some major frostbite at this hour. Shares are plunging 9 . Michael kors, super hot since its ipo a couple of years ago. Its a Luxury Fashion company. But it issued a gloomy annual forecast and announced plans to shut more than 100 of its Retail Stores. Not the Discount Stores but Retail Stores over the next two years. Let us get to more of that comey news and, again, it is that james comey will publicly, publicly testify in front of the Senate Intelligence committee about what he says to President Trump and that President Trump asked him to back off probing into Michael Flynns relations with the russians. Michael flynn of course was the National Security chief that was first picked by donald trump. But then had to step down because he apparently hadnt revealed a whole bunch of clicks with the russians he had taken money from speeches, he had been a consultant. So let me get to fox business blake burman who is at the white house. A flurry of activity. If i sound a little herky jerky here, i keep checking the wires. Blake. Same here. Theres a briefing going on right now, liz, what the White House PressSecretary Sean Spicer that i just stepped out of. Ill get to a couple of highlights on that in just a second. You led in to me with james comey. Heres the very latest. According to several reports out there, comey, the former fbi director fired by this president is set to testify as early as thursday next week on capitol hill and the headline from those reporting this is that he will say that the president tried to pressure him during parts of during parts of their conversation as you know comey was initially supposed to testify on capitol hill behind closed doors. There were calls for him to testify publicly. Now were learning that this could happen indeed as early as next week. Helen number one. Number two. As i mentioned, the press Secretary Sean Spicer briefing right now off camera but in front of reporters on the record inside the White House Press briefing room. Spicer was asked a russiarelated question and said that the white house will not answering qstions on the russia probe going forward. Instead, bargain that off tos personal attorney. The president as we know hired mark, a long time attorney of his who he has turned to for these questions outside counsel for the president. He will also lean on his long time Attorney Michael Cohen as well. A third headline in which the president is expected to make in the next couple of days. Sean spicer didnt say when that decision will happen. If the president has made a final decision yet, and i personally asked spicer, liz, whether or not the president is considering an allornothing approach. Basically either to stay in the deal and its entirety, to pull from it and its entirety, or maybe take a little bit what he likes. Kind of cut around the edges. Spicer understand touching this at all saying basically youre going to hear from the president on that soon. Comey, russia, paris, you just saw the Prime Minister of vietnam enter who President Trump is set to meet with for the next hour. Liz. Liz we have to remind our viewers that james comey gave testimony earlier weeks ago, may 3rd, actually, and he when asked about it in front of i believe im not exactly sure, Justice Department when he was asked whether he was pressured to perhaps stop an investigation, we had a senator say if the attorney general or senior officials of the department of justice opposes a specific investigation, can they halt the investigation . Comey said in theory yes. And asked has that happened . Have they halted it . And he said not in my experience because it would be a big deal to tell the fbi to stop doing something without appropriate purpose. That was just on may 3rd. But now of course hes saying that the president tried to pressure him by saying you know what . Michael flynns a good guy, why dont you forget about all of this . Thats what comey is prepared apparently to testify about. And now we have the dow down 45 points. Blake burman, thank you very much. And, blake, by the way, judge napolitano is rushing over here to get in front of the cameras for us because he knows all the ins and outs of the legalities of this. But as we said, the president now has an outside counsel and all questions to the white house are being this issue to that counsel. To wall street, it is a race to the close as major averes are rising off session after opening in positive territory earlier. The dow and the s p 500 are on track to end higher for a second straight month while the nasdaq, which hit an intraday high earlier is on track foreseventh consecutive month of wins driven from apple to netflix to google to amazon. But with summer almost upon us, should investors kick back in june or kick their portfolios into high gear . To the floor show, traders at the new york stock exchange, cme group. Let me ask you about this breaking news. Right now on the floor, how closely are traders watching this news about james comey who will publicly testify now . I think theyre watching him pretty closely. Its not the shock and a he had a week ago when he was fired and then you saw the dow down almost 350 points. But i think hes been out of everyones mind because the president was overseas, we havent seen him recently and then now all of a sudden hes testifying . You have to tell the truth. So bottom line, i think traders are paying attention to it and the markets are starting to show some cracks. Were starting to see sectors that are bending like the famines from bent to almost broken. The small cap weak. Oil back to 50. So if we start losing tech, which we havent yet, i think finally we might get a little bit of reat the same time. But i think it could hit july or august versus june. Liz so, folks, what hes saying is watch for tech as that red flag but stay on your toes right, scott . Because headlines such as what we are now reporting continue to keep the market on edge; right . Exactly. Liz okay. Let me get to ira. Ira, do you just kick it into high gear now . Or do you kick back . You kick back. This is where you step back from these markets. Youre going to go play tennis, golf, the kidsre on vacation, everything happens, congre is gog to lead very shortly. Youre not going to get a lot done and those cannot be bullish, the stock market, so i think you take a slight defensive posture. Do you just come in and buy the new highs . I would doubt it for the summer, which you defined well is june and july. Well take a fresh look at things in august. But i dont think we do get a lot of good data over the next three weeks here. Liz luke, what do we do . We do have the jobs number on friday, the expectation is to see a build of about 183,000 jobs for the month of may. But more importantly, i dont see how anybody can just kick back when it comes to investing in oil and oil names, as long as opecs around, its going to be abissue. Yeah. You can kick back on oil. Oil is a global commodity, and you look at how volatile it has been compared to the stock market. Its a whole different animal. But i will say that the stock market signals is President Trump going to be able to put through any of the plans that hes talked about . Infrastructure, et cetera, expansion of business, tax cuts. All that stuff is going to be on hold, and its not giving oil a reason to go up. Plus the fact that opec doesnt seem to be able to control the price of oil anymore, so i would be careful. I would watch oil, and i think the surprise as we said all year is going to be that gasoline prices are going to rise while you see Oil Prices Stay steady. Liz okay. And finally, scott, jobs friday. Were about 48 hours away from that. What are the traders expecting . And could it really move the markets as we head into june . I think the traders would like to see an inline number. They dont want to see a really weak number because if we get another weak number, it back up some of the economic signals and then all of a sudden we go from may one hike or maybe two hikes to none. And we want to see at least one hike, otherwise, you know, youll start seeing some more divergences that have already started to develop iraq and before we go, ira, are you hunkering down . Your budget in illinois is going to be more of a disaster than it already is. Midnight tonight; right . Right. So illinois broke. End of discussion. What can i say . Yeah. And then they want to come to you guys. The traders and tax you more to get them out of the problem; right . Right. Liz unbelievable. Thats what they keep doing. Liz good to see you. Scott, ira, lou. Closing bell. Were 48 minutes away. A massive and deadly explosion in a secure area of cobble and as the death toll rises with 90 people killed, 400 injured, it turns out americans were in the thick of it. We will give you the latest details on their conditions, the afghanistan terror attack details next. And the Prime Minister of vietnam at the white house making comments with President Trump right now. Thats hitting the tape. Theyre talking about trade, security, and the ever increasing threat from north korea. So ill get you this headlines the second we come back. And what does the u. S. Need from this tiny asian nation . Peter brooks standing by live. You have to hear what he has to say because it depends on what you buy a what your company makes. At crowne plaza we know Business Travel isnt just business. Theres this. a bit of this. Why not . Your hotel should make it easy to do all the things you do. Which is what we do. Crowne plaza. Were all business, mostly. Your insurance on time. Tap one little bumper, and up go your rates. What good is having insurance if you get punished for using it . News flash nobodys perfect. For drivers with accident forgiveness, Liberty Mutual wont raise your rates due to your first accident. Switch and you could save 509 on auto insurance. Call for a free quote today. Liberty stands with you™ Liberty Mutual insurance. Liz breaking news, we now have a number on how many u. S. Citizens were in the thick of this blast that killed 90 people. It turns out 11 u. S. Citizens were injured in the blast. It shook the city center of cobble this morning in afghanistan. At least 90, as i mentioned kill, 400 injured and the death toll is expected to rise, following a massive bomb, which apparently had been hidden in a sewage tanker. The explosion ripped through the Diplomatic Center where several embassies, including a Germany Embassy were heavily damaged. The u. S. And nato embassies are not far from the blast site, so it cant be too much of a surprise that 11 americans have been injured. While a target is still not specifically known, the Afghan Taliban have denied any involvement. We will bring you any further updates and names as they come in. So now as we look at the markets, this is where weve been much of the day. Down 35, down 40. But at the moment, we have the president meeting with the Prime Minister of vietnam. His name is nguyen, and theyve apparently just spoke to the press, and were watching this closely as the tape is about to come in. There are many things tore discuss. Trade, the paris climate accord, not to mention the rattling out of north korea and the fact that the chinese have staked their claim, making fake islands in the South China Sea which vietnam, asia, and japan all said we own the islands that are in there. So we right now as were waiting for that tape go ahead, brad. Were waiting to see if President Trump addresses comey. No doubt reporters will absolutely throw a question his way. So how this works is it has been taped. They dont do it live. And we got a tape into the building and the most important thing is that were seeing multiple headlines that james comey, the former fbi director is going to testify before the Senate Intelligence committee. We dont know the exact date, but it could be within a week, and he has prepared apparently to say that President Trump attempted to pressure him to drop the investigation into russia ties with the former nsa director that was trumps first pick, and that would have been michael flynn. So lots of controversy. Lets listen. Trump were going to find out very soon. Thank you, all, very much. Thank you, all, very much. Its an honor to have the Prime Minister of vietnam at the white house and the oval office. Prime minister has done a fantastic job in vietnam, led so many different categories in trade and other things. Were going to be discussing trade. Were going to be discussing north korea. And many things to talk about, and we look forward to being together very much so. [foreign language] thank you, mr. President for inviting me to pay this official visit to the United States. I bring with me the greetings from the vietnamese people and greetings to your dear friends. [foreign language] the relationship between vietnam and the United States have undergone significant in hit of. But today, were able to [foreign language] i have had the great pleasure of having a full conversation with the president last december and also in exchange of letters. I was very impressed by the openness and friendliness of the president , and im confident that our meeting today will be equally candid and open. And set out major directions for our corporation on the basis of Mutual Respect and equality in the interest of peace, stability operation and development in the asianpacific and the world. [foreign language] we look forward to paying a visit to you and paying an official visit to vietnam later this year. Trump thank you very much. Thank you, everybody. Thank you. Liz and President Trump not addressing the latest news that the former fbi director james comey will testify publicly about what he says was pressure to drop the russia investigation. He did at the very top. I dont know if you caught this, so let me bring it back to you. He did talk about the paris climate accord. He said he will make his decision on whether to stay within that climate agreement very soon. Quote very soon. He also did say hes been hearing from a lot of people on both sides of the paris climate deal, so he says hes listening to both sides here. Very important to note, though, that it was back in 19 about 2016, last year, october, that the countries, a group of them set in motion the accord and the president has tweeted hes not sure what hes going to do. So lets look at etfs quickly. Exchangetraded funds that are focused on green and clean energy. Since the election, theyre not hurting. You know, youve got the First Trust Clean edge fund up 19 since the election. Power shares clean energy up 11 . Look at all of these. They dont appear to be hurting at the moment. Either way, were watching this closely because this decision will come out in a few days. Now, President Trump also you saw welcomed the vietnamese Prime Minister to the white house. The two very critical and pressing issues to work through. Most important being china land grabs and trade. The land grab first, it involves china claiming ownership of islands in the South China Sea, natural islands which japan, vietnam, and have claimed. But china constructed man made islands in the region which japan is militarizing. The north vietnamese during the vietnam war had trade deals between 15 and 17 billion. Heres where it gets surprising. President trump pulled out of the 12 nation transpacific deals, one of the first things he did as president. And that deal would have been Pretty Amazing for a economic boost for vietnam. But guess what . Even without the tpp, the markets still saw Foreign Direct Investments hitting a record of 18 billion, so vietnam is doing just fine. Entire plants in vietnam include inl, sherman williams, crown holding. As President Trump extends a hand to vietnam, just as you saw, how important is the nation with china and beyond . North korea, most likely. Peter brooks served as secretary of defense under president george w. Bush. Two issues to tackle. Lets get to diplomacy. Vietnam isnt seen as a diplomatic power like the norwegians were between israel and the palestinians. But could the u. S. , vietnamese relationship benefits when it comes to north korea or china . Yeah. Vietnam doesnt have close ties with north korea. But the issue as you laid out very well is china and the South China Sea. Vietnam and china dont get along. They have a troubled history. They fought a war in 1979. Vietnam is probably playing, you know, hedging its best with china because china isnt going anywhere. That geography isnt going to change in its relationship with the United States, the military relationship is warming. Last year they ended some sanctions on arm sales to vietnam. Just transferred some coast guard ships to vietnam. So its a critically important country with 90 Million People with a powerful growing economy that could be a even more bigger player in that part of the world. And help the United States advance its interest. Liz but President Trump has been very clear. He has done with unfair trade advantages that other countries have. We have a significant trade imbalance with vietnam. 32billiondollar trade deficit. What does that mean . They two or three way more to us than we do to them. Theyre buying all of our stuff. Were talking about 15 billion in trade deals here. Things like aviation, infrastructure, power, High Technology peoples no. Services, so if they actually do sign that large of a deal over the next couple of days, that could help ease that trade deficit. But, yeah, youre right. There is a significant trade deficit, and it has been growing. So its important to get that in line again. Liz i know you say that vietnam cant really help with the north korea situation, or at least some of the sizzling pressure at the moment. But the United States just had a successful test of its icbm, its intercontinental missile. And its in south korea. Its designed to shoot down any missiles that come from north korea. But those could hit vietnam too. Vietnam must be on our side on this. Yeah. They could also lead the southeast nation, which is a grouping of Southeast Asian nation. The president is going to be out there for apeck, it seems hes going to make an official visit in november. Theres also a consideration, liz, that north korea uses Front Companies and embassies to get direct to get access to hashed currency. And some of that comes through Southeast Asian nations. So vietnam can lead countries in soueast asia as part of obviously a large powerful country in that part of the region. That would be helpful to the United States and potentially squeezing north korea and moderating it to a belligerent nuclear and Ballistic Missile behaviors. Liz well, i tell people when it comes to trade, just look at the tags inside your clothes. A lot of stuff is made in vietnam. So hopefully we can get it more balanced when it comes to that and certainly with a diplomatic aspect. Thank you very much. Thank you. Liz peter brooks, National SecurityAffairs Senior fellow. We have breaking news on mylan. The Pharmaceutical Company that makes that lifesaving epipen for people who suffer deadly allergies. Senator charles is just saying in the last couple of minutes that mylan overcharged, knowingly overcharged u. S. Taxpayers as much as 1. 27 billion for that lifesaving epipen drug. Senator saying quote it looks like the drug maker overcharged taxpayers for years with the knowledge epipen was misclassified. Now, while those who suffer from lifethreatening allergies went without receiving their medicine due to mylan jacking up the press of epipen by nearly 600 over just a couple of years. By the way, this is a device that has been around since the 70s, hasnt needed any improvement. Why the hike of 600 . Now you have mylan Board Members, and i think we reported this about a week ago, quietly lining their own pockets, receiving millions and millions in pouts now unhappy investors. Not just the patients, are fighting back. And taking aim specifically at the companys Board Members. Nicole is on the floor of the new york stock exchange. In front of the grassley headlines, you can see the stock is to the downside and moved even lower. Theyre piling on this company mylan. The shares right now 38. 94. Down another percentage point. But take a look back at this chart. When the mylan controversy erupted, liz, the stock was at a peak of nearly 50 bucks, 49. 92. Then it takes a nose dive, plummeting down to 34 bucks in november. Dropping over 30 during that time. So now, the news today that a group of investors are unhappy over the high executive pay at mylan. Theyre now taking aim at six Board Members of this epipen maker. So one of which is this gentleman, you remember him of course mylan former chief executive robert receiving nearly 100 million payout back in 2016. While many went without receiving the epipen, as you said. The lifesaving allergy medicine. So now four major Pension Funds have launched an allout campaign urging mylan shareholders to oppose the reelection of cory as mylan chairman, along with five other directors. And to reject the companys accepted pay compensation for the top officers. You have new york city, new york state Pension Funds, along with california state teachers retirement system sending a letter to mylan saying quote mylan board reached new lows in corporate stewardship in 2013 when it agreed to make extraordinary and egregious payments in 2016. Over the next five years. So mylans annual meeting takes place on june 22nd. So the investors will be watching closely to see what happens and right now, were seeing the stocks to the downside. You have senators making comments and these investors really enraged over the price hike and the pay out to the executives. Liz yes. Excellent report, nicole. And as we have reported, theres a class action, at least one classaction lawsuit by people who feel they overpaid and those who couldnt afford it. And, you know, you die without it all right . If you have that kind of allergy. And i would love to see what happens to the head of the executive compensation committee. 100million. That, i believe, nicole, doesnt even come its so far above bigger Pharmaceutical Company executive comp saying like pfizer and merck. They dont get anywhere near that. Theres no doubt. They were getting huge payouts over this time and now theyre going to have to deal with it. And we know this is front and center, and theyve had to roll this back because there are really no other choices for the most part for this type of medication thats needed. And so the United States thats paying for it for schools, for hospitals and of course liz required. Right. Required. And also for individuals as well. Liz Nicole Petallides from the floor of the new york stock exchange. Were watching mylan stock, and we should also say what are we at now, acia . 25 requests or so into mylan to have the ceo come on. They will not. Well have more on this story tomorrow because new york city controller Scott Stringer has been outraged about all of this. Hes going to explain why the nyc pension fund is going after mylans board and lining their pockets with all of that money. Closing bell ringing in 26 minutes. Theyre buzzing inside the beltway about what will undoubtedly be a bombshell hearing as early as next thursday. Former fbi director james comey will testify publicly about the president and russia. The judge is here. Judge napolitano is going to walk us through what could happen, what will happen, what might be asked next on countdown. Dont go away. The dow is down 26. When this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time a. Thats the power of and. vo when you wake up with miracleear. Your mornings can come to life with sound. Our exclusive Speech Isolation Technology transforms a bustling cafe into a clear connection that helps you hear the laugh that made you fall in love with her in the first place. And, at miracleear, we take the time to get to know you, grandpa so we can ensure you hear what matters most in your world. Call, click or come in today to learn how to start your better days. Miracleear. Hear a better day. Liz President Trumps personal counsel is now on notice to take all questions on this, the news that broke in just the past hour. Former fbi director james comey will publicly testify before the senates early as next thursday about the accusations he made regarding President Trump. He said the president tried pressured him to drop the fbi investigation into russia and its former ties to michael flynn. The white house diverted all questions about the matter to outside counsel representing President Trump but there is a huge entanglement here and legal implications. Fox news senior judicial analyst judge Andrew Napolitano just rushed in. Right away what is your first gut reaction . That jim comey has been debriefed by the independent counsel bob mueller who was his friend and former colleague and bob mueller has authorized him to give testimony and mueller is satisfied that comey is a credible witness who will give credible testimony and the testimony gives to the Senate Intelligence committee next thursday will not impair any testimony that mr. Mueller will need director comey to give before a grand jury. Prosecutors dont like their witnesses going around saying what they know that sometimes prosecutors have locked their witnesses up to prevent that from happening. In this case the prosecutor, mueller is satisfied that the witness, comey is safe to make the statements under oath and to be crossexamined by republicans who are not going to like what they hear. Liz is there possibility that mueller heard what comey had to say and now says go ahead, you can say it let them judge but is there a chance that mueller heard it and said so what, it was just President Trump saying i think we are done with this. Thats okay but. It could very well be. Theres also a chance that bob mueller has read jim comeys memos of his communications with donald trump. Lawyers have a habit. Prosecutors rarely break the habit of making noteafter conversations. Jim comey it is alleged notes after a conversation with the president and probably kept them after conversations with president obama as well another issue for another time. Its going to to bent on the tone of the language the context of the language and the progression of the language because according to reports in the New York Times there were three conversations between the president and jim comey on the subject matter. Liz whats defensive does President Trump have if james comey gets up there and makes it very clear that the president tried to pressure him to drop this investigation . There are two defenses. One is it didnt happen it would he he said, he said and we dont know of the conversations taped. They surely were not taped fight jim comey. It would be issues with that. They may have been taped by some white house taping system but lets assume there is no tape. Its he said, he said jim comey says this and President Trump says that. President trump has a very interesting legal and constitutional defense. The phrases the unitary executive. It basically means everything in the executive branch works for him because he is the person answerable to the voters and we gives an order its their obligation to comply with the order if they think theres something wrong with the order they are dubious to resign not to disobey the order. Liz comey did testify earlier that nobody has pressured him to drop an investigation. Comey is going to split some hairs here. Hes going to recount the question that was put to him by senator hirono who said that the attorney general or the Justice Department asked to stop investigation that would be a problem. Senator hirono did not include if the president in that question. Knowing jim comey that will probably be his response. Liz so we are back to semantics it depends. Not quite that bad but we are back to semantics. Liz thank you judge napolitano. He doesnt even have sweat on his brow as he ran in here. You are not supposed to let them see you sweat. Thanks judge. The closing bell bell 70 minutes away. The dallas continued to climb closer to the flat line. Its now down 25. It has been anything but business as usual. And l. Annoy voters are not taking it anymore. This was the scene during this hour yesterday as protesters flooded the state State Capitolo years without a working budget in the land of lincoln. Coming up, watching the clock tick down to tonights budget deadline. What the heck is going to happen here with this once principled stay . Theres nothing more important than your health. So if youre on medicare or will be soon, you may want more than parts a and b heres why. Medicare only covers about 80 of your part b medical expenses. The rest is up to you. You might want to consider an aarp Medicare Supplement insurance plan, insured by unitedhealthcare insurance company. 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Duck quack call to request your free decision guide now. Because the time to think about tomorrow is today. Liz guess why, the s p looks like its about to turn positive right now. It is down now just one point. We have the markets in the red but really making a go of that flat line. The dow was down 16 at the top of our hour, down 45. So last trading day of me which means fox business is now just five months away from celebrating our 10 year anniversary. Yeah. October 15, 2007. Illinois and its disastrou fiscal problems without we would look into what happenein that state since fbn launched nearly 10 years ago. Fiscal crises have ways to lawmakers and residents alike. The controversy hitting commodities traders, protesters circling the place. Illinoisbased titans like mcdonalds had seen protests over tax loophole issues and minimum wage demands. Meanwhile iconic corporations have been cutting jobs and closing plants across the state over the last decade. Businesses like montu leaves, kraft heinz and Motorola Mobility to name a few and two years after fbn had aired for the first time through the end of 2016 the state of illinois has been slapped with 19 credit downgrades giving it the worst Credit Rating in the entire nation. This all coming as the states deadline for reaching a budget deal arrives today but that deadline didnt stop lawmakers from going home last night even as protesters beg them to stay and fix the situation and hash out a deal. They held a sitin inside the State Capitol chambers but we didnt get to tell you what happened after that. Jeff is standing by in chicago, illinois to tell us what happened. You are right there. Im so glad you were following up on this list though. All those people that you see end use i yesterday live at the sitin they were all arrested last night. They refused to leave and you didnt even say overtime to work on this budget to the deadline is tonight. What are we now, i dont know the deadline is midnight tonight the march 200 miles from chicago to illinois capitol in springfield demanding a budget. We havent had a budget now in 701 days in the state of illinois and after we passed the deadline tonight its going to be even harder to pass a budget because now we just need 50 plus one. Then after the deadline passes we will need twothirds to pass. They are not going to pass a budget. They havent passed one for 700 days. The battle is become the between the governor and the democratic head of the House SpeakerMichael Madigan democrat. The governor says he wants turnaround agenda and then he will agree to a tax increase and madigan says no im not going to agree to a turnaround agenda so we have the stalemate. Look at these numbers. You mentioned the numbers and many numbers in illinois. This is almost crazy. Unpaid bills over the course the past two years, 14. 5 billion. What has that meant . Thats like if he ran up your credit card and interest and fees total almost another billion dollars. In addition to that you would think we dont have a budget so we are not spending money, right . No, the Spending Continues because you have to spend on things that you have to spend on so they have another 6 billion this year alone in deficits. This is a mess. Liz i couldnt agree more and the man at the top really needs to handle that. We have put into requests for Governor Rauner who is a republican and a centrist as well. He is welcome on the show but as people said we are not putting him out there and thats a big mistake. We went to him with a live camera on fox bins a year ago and said can we talk to you . Ignored completely. Hes a republican but he is not a trump fan. He is a former hedge fund manager, a millionaire. Liz he had better be an illinois fan. Get out here and talk to us about what his plan is. Hes says hes trying to do whats best for the people but hes not speaking to the people. Liz thank you very much. When we come back the closing bell 70 minutes away. A black swan event, thats not good by the way could be looming in stocks. Thats the question market goer has been asking. Hes going to answer it in a fox business exclusive. He is live next. Dont go away. I count on my dell Small Business advisor for tech advice. With one phone call, i get products that suit my needs and i get back to business. Welcome to holiday inn thank you wait, i have something for you making every stay a special stay. Holiday inn, smiles ahead. Whether for big meetings or little getaways, member always save more at holidayinn. Com we asked people to write down the things they love to do most on these balloons. Travel with my daughter. Roller derby. Now give up half of em. Do i have to . This is a tough financial choice we could face when we retire. But, if we start saving even just 1 more of our annual income. We could keep doing all the things we love. Prudential. Bring your challenges. Liz the s p almost positive right now, down a fraction of a point as treasury secretary Steven Mnuchin gets ready to huddle with g. O. P. Leaders to discuss tax reform. The french bank says theres a looming black swan on horizon. In a black swan by the way is not a good thing. Team trump, here it is team trump might fail to deliver on promised tax cuts and that will be the biggest black swan for global markets. A fox business exclusive one of the worlds greatest money mind starting is now chief economic adviser mohamad elerian. What do you think right now is the biggest black swan for a market that is brushing up against record highs nearly every day . I do not think its what was said in the sense that failure to pass tax reform and other progrowth policy are priced into this market. You only need look at how the internal markets have change. This is no longer a trump rally based on policy expectations. This is a liquidity rally with a bit of hope globally. I dont see this as the black swan. If you want to look for a black swan its more like a geopolitical shock or something going terribly wrong in europe. Liz we have seen a couple of i guess what i might consider geopolitical shock and thats north korea testing missiles. Some of them failed in and some of them succeeded. What else . We have been watching the battle with isis for quite some time. Can you imagine what might be a geopolitical shock Strong Enough to derail the market . If north korea went from tesy attacking japan, south korea or even trying to get to the u. S. Territories with missiles that would he a black swan. What i see right now in north korea has been quite contained. The black swan would be if they actually attack a neighboring country. Liz the last we have spoken and we have spoken between now and last january but in january you have 30 of the portfolio in cash. What do you have now . So i think there has been a rotation time so we also spoke at that time about less financial industrial and much more tech and much more the lagging sectors in the emerging market. That is works really well because as i said earlier the leadership ofhe stock targets around the world have changed in the u. S. And the rest of the world and within the u. S. Now, my view is fewer dollars but more risk with those dollars so i would continue to look for lagging sectors but put fewer dollars at risk at this stage of the rally. Liz very interesting to take a little bit of what you have and put it in the dash mohammad please come back once again. Mohamad elerian a fox business exclusive saying its not tax reform but whether we have geopolitical drama. Markets down for the day that up for the month of may. Theres the closing bell. Let me handed over to david malless and a lot of breaking news. David stocks ending off their lows but still in the red on this last trading session in may. The dow was lower for the Third Straight day. The s p and nasdaq closing down as well but theres good news. Over three the this is after the bell. We have more in the big Market Movers but heres what else we are covering during this busy hour. Breaking news details of washington former fbi director james comey will testify before the senate where hes expected to answer the question did President Trump ask them to back