mcconnell died about whether there would be a vote to revive the export import bank. via chrysler slapped with a $105 million fine by federal regulators. the national highway traffic safety administration said automakers had to complete 23 safety recalls covering more than 11 million vehicles. "the wall street journal" said u.s. energy companies are planning more layoffs and asset sales to do with the sudden drop in crude oil prices. write down the price of crude oil under $50 a barrel. the lowest it's been in for months. former boston red sox pedro martinez among four high-profile inductions into the baseball hall of fame over the weekend. joined randy johnson and houston second baseman craig riccio and the class of 2015. breaking news. overnight the massive selloff took the chinese stock market. reporter rachel ruble is in beijing with the latest details on that. >> the shanghai composite today following a .5% for its largest single day drop since 2007 and the second largest single day drop since 2000. heavy losses in every sector with stocks falling for for everyone that rose. the index in a rally for the last three weeks thanks to unprecedented intervention measures by the government. today investors are not confident the measures are working. many looking to cash in on profits while they code. the index had rebounded 16% since the lower july 88 through the past friday. as for the rest of the asian markets, the hong kong hang seng were 3%. the nikkei and the cost be relatively calm by comparison with the japanese market fallen 1% in the south korean market down a third of a percent. we could begin for more volatility in china this week. sandra: to put it lightly, maybe more volatility. thank you. with such volatility in the chinese market, how do investors move forward? more volatility expected. is needed next couple of days after this with major triggers gone off in the chinese market selling 10%. just like we see here. sandra: i'm not sure how many investors in the u.s. are close to china. the market has been rolling over for quite some time after a massive run-up. a lot of speculative local capital in the market and i believe one of the key reason why a plan that's so much of the first place is because it shifted from the property market that has gone up in a stable fashion year after year after year. sandra: the government said we are guaranteeing the stock market and got people in it never should have been for would have been. >> issel page of ben bernanke's playbook to thinking if we get the stock market up that will boost the effect. mr. bernanke also estimates once you do that on the way down there is only a temporary drop, an adrenaline shot. ultimately it doesn't hurt. but the chinese government can do apart from temporary measures, they can do more easing. part of the reason the stock market went up is because they've been cutting rates. sandra: it sounds like a slippery slope. major involvement to send these losses. last week they were touting measures were working because we did see lovely mouth of the selloff. but here we go again. sandra: 21 brokerages trying to support the market, basically told you have to do this by the government. the main issue is legitimacy of the party. even though the stock market isn't necessarily indicative of the broader economy in china, it is very symbolic. when you have fear and concern by retail investors, that breeds a little bit of instability. we need to see what the government will do because there is doubt they will buy blue-chip stocks. that is what we wait for the next couple days is what can they pull off next. >> unbelievable story there at least for now not leading to major weakness. europe this week in the trading day, but right now not looking at a major selloff. we'll see what changes the next few minutes the next couple hours. the dow up 58 points. still some decent salad but not exacerbated selloff as we head into the open trade. hillary clinton's campaign over the weekend fishes except that ashanti testified over her role in connection with the death of four americans in benghazi. blake burman is that the white house with the latest on that. reporter: high, sandra. good morning. a lot of have been questioned. over the weekend hillary did say she would testify in front of the committee and the date that was thrown out as a covert 22nd. the committee spokesperson said essentially hold on for a second. nothing has been officially agreed to. conditions here are still at play. clinton's attorney once a day to stay firm in for this to be about benghazi only. however, the spokesperson said hillary clinton e-mails also remain within the scope. a bit of a disagreement there. hillary clinton did address the growing e-mail controversy as you know last week to inspectors general of such classified information was sent out over her server. clinton addressed the issue by saying i did not send or receive anything that was classified at the time. the key phrase being at the time. speaking of hillary clinton's e-mail, the second batch will be released later this week. 3000 pages of e-mails released on schedule last month as well. hillary clinton will be on the road today. she is in iowa to unveil her climate agenda. as part of the agenda she will call for half a billion solar panels at the end of her first term along with being able to generate enough renewable energy to power every home within the first 10 years or within 10 years of her presidency. sandra: blake, thank you. how will this impact to run for the white house in 2016? she is doubling down saying the facts are pretty clear here. to burn -- he sent to classified information from her personal e-mail. >> she's contending it was not classified at the time and was retroactively classified after she left. i'm a hillary clinton supporter but i said from the beginning this made no sense to me. why you would take e-mail. sandra: she needed to do this because she didn't want to carry two devices. >> all of that up to and including the part where she won't address the press in any meaningful way and every other candidate has. favorability numbers go down because she's not campaigning. for those people who want to see her do well, it is mystifying to all of us. sandra: you can't run for president did not answer questions. >> there is a strong alternative on the democratic side when it comes to bernie sanders or martin o'malley. you haven't been able to lodge a serious challenge yet. >> the bernie sanders numbers going up. behind within the party is saying if you run for president at play in the big leagues and the world series, the general election, show up for spring training. do something to show you're interested in campaigning for yourself. it is incredibly frustrating and i would hope they would change their strategies. they are at the lowest in years because of it. >> missing words here. i am confident that i never sent or received any information that was classified. at the time it was sent and received. she was sending classified information from her personal e-mail account. >> i said are the longest time hillary clinton is a great candidate on paper but when she enters the debates and gets involved actively in the media circus that people will be for one reason or another because of what she says or comes across it makes it more difficult. what i think is interesting is candidate clinton went very far to the left on stock market related issues which is a rest for the 2016 election cycle. she wants to attack the share buyback programs and activities whether that's right or not i don't know. if you look at the landscape come you say we are going into the presidential election and we have a candidate who wants to address one of the single most important factors in the stock market over the last six, seven years which is buybacks. you really have to pay attention. sandra: pearly feer reynaud was on the show last week and says when it comes to the debate, what will hillary say? they're picking on me because i'm a woman. what are they going to pick on her for her because she's a grandmother? i'm a grandmother, too. >> she's clearly trying to makers of legitimate to get into the debate next week. sandra: why should not legitimate? >> she's not in the top 10. sandra: it is early. >> talking about next week. right now they are grandstanding that is why you see ted cruz and mike huckabee saying crazy things about israel. i will go on to say with hillary, you think that she is not too far. people in the party think she hasn't gone far enough. there is an appetite. >> ted cruz is one lucky guy. sandra: u.s. one person is struggling to crack down and would be lone wolf attackers. congress now stepping in and asking companies that google, facebook and twitter to be the internet police. the tech chance of pushing back yet from "the wall street journal," social media firms resist role of policing terror talk. should social media companies be obligated to fight terrorists on the web. i guess that is a big question we're all asking. joe, i should ask you. you are in touch with social media companies all the time we've been discussing this on our new show with various politicians asking the question does there need to be more involvement with public companies or private companies with the government on monetary and terres, monitoring interaction in general that could be influential with what's happened in the united states. >> a very good question senator run the fact it's all about communication. isis another groups are are leveraging evenness to grab another video platforms in youtube to disseminate their message. the bill that is being considered right now is extra step requiring the private company to do so. a lot from these companies like twitter and facebook because if people can't trust information being stored on this size stored on the size, why would they continue to use them? these sites are free so you pay a premium by following data. sandra: the last thing we want is government telling companies what to do. we do need some interaction. >> yeah, but i believe that is taking place on many levels. i am sure the government is already watching what is being posted on twitter or google. >> there's already a thread frameworks in place. the terrorist behavior is already banned on twitter. the question is do they identify the exact source of where it's coming from. sandra: and it's all subjective. that is the part that is frightening. you're asking, silicon valley to see what is good. donald trump at the top of the gop polls. can anything stop him? will discuss the next. next, a good look at the headlines for "the wall street journal," iran's nuclear cloud deal. greece makes faster cover interest on and on shushan cleared of misleading regulators. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? sandra: despite backlash from this comment from senator john mccain. trumpeting a new cnn poll at 18%. jeb bush's second at 15% and scott walker is in third at 10%. the donald is soaking up a ton of media attention. the publicity wave right to the top of the polls. can trump keep this up? let me guess your response. >> jump or keep it up as long as he wants to keep it up. i don't think he wants to keep it up all the way. i don't think donald trump is interested in being president. i think he's interested in building his brand and he's continuing to do that and i'm truly sincerely at the police this is a complete exercising great capitalism. sandra: a lot of people taking his presidential run very seriously. >> some political analysts argue if he doesn't get the republican nomination that he may be interested in running in the general election. do you think that is the case? >> i don't know if he will do that. he would be really killing the republican party. he may be interested in a keynote speech. he ran against senior george bush, did very well in new hampshire in the deal as the deal was he wasn't going to continue running buddy got to the keynote address to republican convention. can you imagine donald trump giving a keynote at the convention? sandra: robber, jump in here. the business community is so happy to hear somebody say the things they've been thinking. there's been an attack on business. >> most of the things they say have been awful. that's the precedent. 2012 man a hapless attempt a man came up with a birth certificate and it just faded. it is very difficult to read what this man really wants. he was about to go by newt gingrich and in the 11th hour turn for romney. president bush number 43 became president and he became a democrat. i don't know where he is. sandra: it is starting to look like i had you guys perfectly positioned. waiting on president obama sat to hold a news conference in ethiopia in just a few minutes. we are keeping it are keeping that live there. we'll bring you a comment five and they have been right here in fox business network. shaping up to be a busy morning. keep it right here. when you're not confident your company's data is secure, 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in town, the kids are feeling safer while they walk to school. and folks are making investments and the community is moving forward. 40% of the lights were out, but they're not out for long.they're coming back. great time for a shiny floor wax, no? not if you just put the finishing touches on your latest masterpiece. timing's important. comcast business knows that. that's why you can schedule an installation at a time that works for you. even late at night, or on the weekend, if that's what you need. because you have enough to worry about. i did not see that coming. don't deal with disruptions. get better internet installed on your schedule. comcast business. built for business. sandra: now the latest on last week's movie theater shooting in the louisiana that left three dead and nine wounded. jo ling kent has the latest. >> we are watching. the service has been a shooting rampage in the louisiana movie theater today. 21-year-old macy brought 33-year-old jillian johnson shot and killed and 59-year-old man at the history of mental illness when you opened fire in a crowded movie theater during a screening of train wreck. back on wall street, new reports on the brink of bankruptcy according to the near post the company short on cash facing a $15.4 million debt payment less than three months not including legal fees related to former ceo over sexual harassment. in case you missed it last night featured the premiere of caitlyn jenners new series i am kate giving the audience is an inside her transformation. the headline t. o'hare, tons of hugs and a glimpse of connie west. look at the upcoming highlights of the season. >> i feel such responsibility. i want to get involved in the community. >> her transformation has helped me to understand my father. sandra: dare we have it. did you see any highlights? >> i can't say i did. i heard it disappointed didn't disappoint for those who are looking to be informed and entertained. >> it is a long time in the making. sandra: it was highly unanticipated. >> especially after that. >> i'm very happy for her, but my bedtime is 8:00 thanks to sandra for getting me up this morning. sandra: robber, dare i ask? e.g. stay up last night? >> absolutely not. sandra: i don't doubt that the ratings will impress. a lot of interested people talking about that. i saw twitter lighting up about it. a lot of people stay enough. one of the must-see moments was kylie jenner, bruce jenner's daughter first met with caitlyn over face time. >> it is so 21st century. i love it. i don't know if you saw the modern family episode that was shot in entirely on apple's products. >> i'm not sure i want to go through a major life event with him on camera. >> the audience is really attract it. they feel this is an inside look at something incredibly challenging and difficult but also really exciting. >> that family not afraid to go through it on television. up next, president obama making history in africa. the first u.s. sitting president to visit ethiopia. take a look at the top training topics on twitter this morning as we go to break. we live in a world of mobile technology, but it is not the device that is mobile, it is you. period. . sandra: welcome back. good morning. i'm sandra smith. i'm in for maria bartiromo. with me for the hour is fox business's jo ling kent. robbert batenburg and fox business contributor julie roginsky. a major selloff overnight. shanghai index off 345 points. a drop of nearly 8 1/2%. this is the sharpest decline since 2007. and prompting concerns over what the government may be doing to stop the selloff. whether or not they have anymore tools left in the tool chest. the shanghai off 2% from the high in june. u.s. stock owners not overly concerned just yet with that selloff in china. the futures this morning are to the downside. not a big selloff. the dow futures off 59. s&p futures off 6.25. a multibillion-dollar deal to talk about this morning in the drug sector. just an hour ago, allergan saying it complete ad deal to sell its global generic drug unit to teva pharmaceuticals. allergan receiving almost 34 billion in cash and 7 billion in teva stock. chrysler slapped with 50,000-dollar fine by highway regulators. the national highway safety transportation agency said they failed to recall 11 recalls covering 23 million vehicles. a sudden drop in crude oil prices. continuing to follow this morning by the way below $50 a barrel. off another 1.3% as we speak. we're starting the week to the downside, robert. what are you watching? this selloff in oil unbelievable. 4and change. you were watching gold in the overnight significance. gold bouncing back a bit. gold a major selloff. >> gold has been going down since the end of 2011. it went into a free fall the last couple months. it lost its stature as a safe haven investment especially gold miners got hit a lot. >> holding on to the $1,000 an ounce level. the selloff seems to struggle to get below the 1000-dollar level. >> it is a strong support, but nevertheless, it has been an asset that investors have -- you know, been out of favor and it is growingly out of favor but the gold miners in particular have become so cheap. trading and valuations are actually below late '90s at which point gold was below 300 per troy ounce. you would say gold miners stocks themselves would be a buy? >> well i think they're attractive, yes, a for value investors. but you also have to take into consideration how low can gold really go? the two have a strong correlation to each other. >> what is the answer to that question. >> the market is in flux. certain assetser is ped to be saved which are no longer safe. why is the euro going up now in the face after crisis europe hasn't dealt with the stock market in china. there is not explainable decorrelations taking place. gold is not the safe haven it used to be. that is the cautionary tale. sandra: robert thank you. for on that in a little bit. president obama is expected to speak at a joint news conference with the prime minister of ethiopia. that could begin any moment now. we have our eye on the lecturn. blake berman is in washington with the very latest and what to expect from the president's words as we listen this morning, blake. >> good morning, sandra. that news conference we're told expect ad few minutes from now. this is first visit by a sitting u.s. president in ethiopia. as part of the agenda, the president got there yesterday. as part of the agenda going forward as well, issues like counterterrorism and regional security. one of the regional security issues, the civil war in sudan and growing threat of al-shabaab and al qaeda affiliate. we say in the neighboring somalia. mogadishu a hotel attack, suicide attack killed 13 people at that hotel that houses diplomats. al-shabaab will certainly be on the agenda for the president during his trip to ethiopia. this comes after he spent the weekend in kenya. al-shabaab and counterterrorism threats were part of his talks over there. the president met with family in kenya and part of talking with world leaders, leaders in kenya he brought up touchy issues such as women's rights, gay rights, traditions that were a part of the past we need to get rid of going forward. as far as the news conference in ethiopia we expect that moments now. sandra: blake, thank you very much. julie, we're awaiting from the president speaking from ethiopia. what are we expecting this morning? why is this news conference important. >> it is isis pairing apparently with al-shabaab pairing this pan african going from the persian gulf down into the continent of africa potential terror network. important for the president to acknowledge that. important for our allies and ethiopia to work with us. i was in kenya last year. goodwill for places like kenya and ethiopia are pretty impressive around the world. they truly subscribe to our way of life and subscribe to our nation's ideology. the fact that they could potentially be allies in the fight against terrorism stretching all the way from basically asia, even places in turkey down into the african continent i think is very important. sandra: president obama will be speaking in a few moments. we'll bring the comments life. he is expected to center comments on human rights and regional security issues. julie points out will be a big one. the civil war in south sudan. we'll watch for that. we'll bring the comments to you live. the apple watch will be available outside of it is own stores in the u.s. starts next month. nicole petallides is owl over this story here at home. >> best buy.com will sell the watch on august 7th. mark it on your calendar. extending to 300 stores over the holiday according to a apple spokesperson. best buy will stock the apple watch, the sport model as well as expensive stainless steel models. not surprisingly the gold case, $1,000 plus edition will not be available on the store. the rose gold model is 12,000. if you think it will be hot, that it will sell well? so far so good. >> first to joe. >> so far, is the feedback from the earnings report. estimated to be, this is not an official number about a million. >> that is the other thing, it said other, put in the other category. >> put in different category and isn't broken out for reasons, apple it is obvious. not quite there in terms of manufacturing, in terms of sales. apple obviously doing very, very well. iphone sales, we potentially get new phones for holiday season which would give apple watch another vote. >> unscientific survey. none of us have apple watch on. >> i purchased one, happy customer. my husband loves it. the question whether or not people believe what tim cook said. he said the watch in early stages of availability is doing better than. iphone and the ipad. >> no, no. certainly what tim cook said. >> it is not doing bad did i, that's for sure. >> but he didn't provide a single number, nothing to quantify his statement and that worries me. >> i saw tim cook in sun valley. i said, hey, how is the apple watch doing. big thumbs up. no number. >> went to apple store, with broken ipad and broken iphone. sometimes i think they have more people working there than actual customers. i looked around at employees which were only people i saw wearing the apple watch, the iwatch and i never saw anyone actually looking at it or using it. so like they went and they got it because it was hot thing to get. newest gadget. i did not see anyone, robert, using it. i'm just saying i'm skeptical about the performance of the watch. >> well, i have been from the beginning. it looks like one of those 1980s watches. >> swatch watch. >> i mean as a auxiliary item, as a one item that apple has in its array of products i think it is great. but i think you know in terms of relevant performance and relevant significance for apple, relative to the iphone or ipad for that matter i think it will continue to be trivial. >> the numbers are true. revenue for all of apple, 53% is made up by iphone sales. no doubt about it. but a lot of apple enthusiasts the first generation of anything, computer or device, mobile device is not always the best investment. maybe wait for the second or third generation. that's what i'm doing. >> i stopped wearing my watch, i think a lot of people stopped wearing at your watch. >> you can look at your iphone. i wonder if people are still used to having something on their wrist and they don't want thing aing a aggravation of totaling something around. sandra: we'll need to see if apple gives numbers on this. i need someone to quantity for it. thank you, nicole. start with nicole, lauren and me on "fbn:am," every day, 5:00 a.m. eastern time. please join us. coming up why "the wall street journal" claims the success of the u.s. stock market hinges on just six stocks. we're waiting on president obama. we'll which those comments to you live. stay right there. ♪ pubut to get from theand yoold way to the new,d. you'll 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superior clean vs. sonicare diamond clean. my mouth feels super clean. oral-b. know you're getting a superior clean. i'm never going back to a manual brush. sandra: welcome back. several major stories making news this hour. jo ling kent is on all of those for us with headlines. hey, jo. >> sandra, bobbi christina brown is dead after being found in a bathtub. only child of the late whitney houston and bobby brown. she was hospitalized at 22 years old started, hospitalized in january. joe namath is offering 100,000-dollar reward for search for two 14-year-old boys lost off the coast of florida. their boat was later found capsized. namath is a neighbor of one of the boys. president obama is in ethiopia for his last stop in africa. he is expected to hold a news conference with the ethiopian president focusing on human rights, corruption and security. fox business will bring you live as soon as that happens, sandra. sandra: thank you, jo. raising eyebrows on wall street, the only six stocks that matter. journal says, amazon, google, apple and just a few other firms account for the majority of the nasdaq gain this year. some are a little worried about that. robert, your so-called take on these six stocks, i should say the so-called six stocks that matter. apple, gilead, netflix does that make for a weak rally would you say? >> yes. when the market is caried by a broad array of stocks in various sectors that is strong so market breadth is key. yes, if the market is only carried by six stocks, i've been thinking about this, the declining number of stocks are powering this market higher or keeping it afloat. the market hasn't moved at all yet the s&p is up 1%. that shrinking amount of stocks. if one only drops out. this actually is what is happened in 1987. that market breadth shrunk to the point only two or three stocks that kept the market higher. then suddenly rolled over. sandra: jo, i know you're watching the technology stocks. guys like robert van brattonburg, who does nothing else but live and breathe the markets, he says he is worried about the fact that these six names are carrying the nasdaq, i'm concerned some what does that mean? >> i think there is a couple of ways to look at it, otherwise broaden out or see a serious correction we've talked about before. if you look at earnings of these companies, remember, amazon, google, apple, they performed very, very well every quarter. not a surprise that more than half of this 664 billion-dollar value add to the nasdaq is created by these companies. also biotechs doing relatively well. facebook just killing it when it comes to social media. so it is actually not terribly surprising but looking at broader market if these stocks are only ones driving, says something about the health of the market. sandra: updating everybody. we're watching for the president to step up to the podium in ethiopia where he is meeting with the prime minister. he is expected to center his comments on human rights, regional security issues will be a big one for the region, trade and civil war in south sudan. hire is the president. >> members of the press, ladies and gentlemen, i would like to once again welcome his excellency, the president of the united states of america to ethiopia. we are honored to receive a sitting u.s. president for the first time in the history of our century-long diplomatic relations but again, we believe it is fitting and appropriate in the life of the -- light of the fact that the for the african independence and struggle for all black people's struggles and political capital of africa, ethiopia is the best place for coffee and we have some -- sandra: so we are waiting on comments from the president there as we do listen to the prime minister of ethiopia. julie, today is important in the comments that we hear right now are going to be important why? >> well, important for the reasons we discussed obviously. national security for our country and for theirs. you talked about the war in south sudan which is waging horribly for years right now including places like darfur, sudan. sandra: notable the president is in this region right now. >> it is. it you saw the introduction, you talk about aspirations for black people it is significant for the african continent to welcome the first african american leader in the free world. what does it say looking to someone that looks like man, being the most powerful man in the world. that is something we overlook here but for them i can't describe the pride. i went to kenya last year. the pride they felt having african-american president especially one that descended from their country. leader of the free world that is very significant. i hope it will help us not with just that relationship with you relationship with our allies. people in africa have people opposed to us an allied with us. places like ethiopia and kenya where the president traveled. there is a lot of good will towards our nation and places we could do national security front and economic front with trade. sandra: jon stewart joked that the president has senioritis, making a push at the end of the second term. fight on isis still a huge fight. the president is obviously trying to strengthen relations in the region, as the fight with isis not only, is he trying to continue that fight but he is being criticized for his handling of these issues. >> he is and don't forget this actually follows on the heel of george bush's legacy in africa, is the best legacy that president bush left behind. he did incredible, incredible work in the african continent for aids and public health. that is something he should being commended for. i hope something that president obama will reinforce when he is in africa. africa doesn't get the attention as everywhere gets. they are not as economically developed. places like europe and asia get our attention. they have both a lot of natural resources in parts of it. on the other hand they have places that we discuss where al-shabaab is flourishing that we need to keep an eye on, knot just for their national security but for ours as well. sandra: i do want to bring up a quick market check, robert. to look at foot turks at 6:51 in the east coast. people are getting ready for their business day. we're waiting for the president to come here in ethiopia. i'm looking at intraday chart we're seeing in the overnight session. this is following more than 8% selloff in china, a huge warning for asian markets. europe seeing weakness as well. now dow futures dipping to the lowest of the overnight session. s&p off seven 1/2. nasdaq futures, the leader to the downside off about 23 points. what's your take this morning as we start our day? >> i mean china is very important for the global market. we keep forgetting that china has been the engine of global growth since 2008. the growth has been slowly but surely sputtering in the last couple years. and, the stock market is key factor in this. as people watch. the straw that could break the example's back. half of global growth last seven years half comes from china. there is additional problem that comes on top of all the other problems we face. keep in mind that china is highly leveraged now. their leverage is upwards something close to 40 trillion. sandra: talking about serious switch for the markets. selloff in crude oil prices. the selloff continues. below $50 a barrel. the selloff does continue rather rapidly to the downside. we're 47 and change now. down more than a full percent in today's session. so far. gold major selloff in the price of gold. it is taking a bit of breather this morning with gold prices bouncing back a bit. president obama, prime minister of ethiopia. president begins speaking we'll bring life. mark serrano. with us from proactive communications. political stratfifth -- strategist. we're watching this press conference out ethiopia. >> what news do you expect the president to make? >> good morning, sandra. agreements on fighting terrorism. perhaps opening up new trade opportunities. sandra: mark, i'm going to have jump in here because the president is speaking now. president obama. speaking. >> good afternoon. prime minister, we appreciate your kind words and for the welcome that you extended to our delegation. we had very productive meetings here today. and after our bilateral i had a chance to see the famous lions that live on the grounds. i'm considering getting some for the white house although, i will have to have to make sure our dogs are safe. to the people of ethiopia, thank you for the warmth and enthusiasm of your welcome and friendship that you have shown me since i've been been in addis. i'm proud to first u.s. president to african union. visit to reflect importance of united states places on relationship with ethiopia and all the nations and peoples of africa. as you noted ethiopia and united states share a long friendship. our people have worked together, traded, with each other and stood alongside one another for 100 years. the united states is strengthened by the contributions of ethiopian americans every day, that is particularly true in our nation's capitol, washington, d.c., which has the largest ethiopian community outside of ethiopia. or at least outside of africa. and we welcome ethiopian students to study in the united states. through our young african leaders initiative. we're helping them power dynamic young ethiopiaiansians with tools to make a difference in their communities. ethiopia hosts one of the largest peace corps programs in the world and has welcomed thousands of young americans over the years. the connection between our peoples are both deep and enduring. today the prime minister and i spoke about how we can strengthen the cooperation between our nations. first we'll continue working together to advance ethiopia's economic progress. ethiopia has one of the fastest growing economies in the world and one of the largest economies in africa. we want to sustain that momentum. growing and inclusive economy in ethiopia means more opportunity for the ethiopian people and more trade and investment between our nations which in turn helps create american jobs but renewal of the african growth and opportunity act will work further to open american markets to ethiopian products and expand private sector investment into ethiopia. we're working to unlock ethiopia's potential for geothermal energy with the nation's first private sector energy agreement. this will help the government meet its ambitious of goal of significantly increases access to electricity across ethiopia and help open the market to developing ethiopia's other vast renewable energy sources. second, we're stepping up cooperation on development where ethiopia has proven it self global leader. to many people around the world their image of ethiopia remains stuck in the past. remembering drought and famine but in the past 15 years, ethiopia lifted millions of people out of poverty. we're working closely together to improve food security, to help farmers drought resistant and higher yield crops. we're building resilience to climate change, fewer people are suffering needlessly from preventable diseases like malaria, more children are getting an education. of course there are still too many people particularly in the rural areas living in deprivation so we have to keep moving on the progress that's been made. prime minister has demonstrated his commitment to eliminated extreme poverty. ethiopia recently hosted the international conference on financing for development which secured a global consensus about how the nation's of the world will deliver on our promises, especially to those most in need. your prime minister played a vital role in forging that consensus and ethiopia is now helping to shape a new set of sustainable development goals for the world. third, our security cooperation is pushing back against violent extremism. ethiopia faces serious threats and its contribution to the african union mission in somalia reduced areas under al-shabaab control but as the prime minister noted yesterday's bombing in mogadishu reminds us that terrorist groups like al-shabaab offer nothing but death and destruction and have to be stopped. we have more work to do. this past week ethiopian troops helped retake two major al that bob strong hold. we have to keep the pressure on. ethiopia is major contributor to the u.n. peace-keeping efforts. it contributes more troops than any other country in africa. we're working to improve the ability of ethiopian peacekeepers to react to more crises before they react into wide crises. later today the prime minister and i will meet with leaders from across the region to discuss ways we can encourage the government and opposition in south sudan to end the violence and move towards a peace agreement. want to thank ethiopia for the sanctuary it provides hundreds of thousands of refugees who fled south sudan and conflicts throughout the region. finally i would note that everything i've mentioned, sustained an inclusive growth, development, security gains, also depends on good governance. we had a frank discussion in global economy that is increasingly driven by technology and the internet, continued growth in ethiopia depends on the free flow of information and open exchanges of ideas. i believe that when all voices are being heard, when people know that they're included in the political process, that makes country stronger and more successful and more innovative. so we discussed steps that ethiopia can take to show progress on promoting good governance, protecting human rights, fundamental freedoms and strengthening democracy. this is an area where we intend to deepen our conversations and consultation because we strongly believe in ethiopia's promise and its people. ethiopia is a strong partner with the united states, the leader on some vital issues in the region and it has the opportunity now to extend its leadership in ways that benefit all of ethiopia's people and the set a positive example for the region. it is hard work but my message today to the people of ethiopia is that as you take steps moving your country forward the united states will be standing by you the entire way. so prime minister, thank you for your hospitality and for the important work that our nations do together. [applause] >> now we have some time for questions. first from ethiopia. >> thank you very much, mr. president. and prime minister. [inaudible] information earlier that combating terrorism is one area where the u.s. is our partner regionally however organizations based in the u.s. and irrid how would you. [inaudible] how committed is the government to transform the the nations to make beneficial changes to the corporation? >> on the first issue, this was art part of our conversation both with respect to security but also with respect to good governance and human rights issues. our policy is that we oppose terrorism, where it may occur. and we are opposed to any group that is promoting the violent overthrow of a government including the government of ethiopia that has been democratically-elected. i also shared with the prime minister our interest in deepening intelligence cooperation and we've had some fruitful discussions about ending the flow of foreign financing for terrorism. our cooperation regionally is excellent. i know that there are certain groups that have been active in ethiopia that from ethiopian government's perspective pose a significant threat. our intelligence indicates that while they may oppose the government they have not tipped into terrorism and we have some very clear standards in terms of how we evaluate that but what i indicated to the prime minister is that in our consultations and deepening intelligence cooperation we will look and see what evidence we have where there are real problems and where we see genuine terrorist activity, that's something that we are going to want to cooperate with and stop. a lot of this has to do with how we define a particular group's activities. if they are just talking about issues and are in opposition and are operating as political organizations we tend to be protective of them even if we don't agree with them. that is true in the united states. that's true everywhere. we think that is part of what is necessary for a democracy. if they tip into activities that are violent and are undermining a properly-constituted government, then we have a concern and so this will be a matter of facts. what are the facts with respect to this issue in determining how we can work together. on shifting development models, part of what i've been preaching ever since i came into office and what we've been putting into practice is i travel across the continent of africa. this is also true in latin america. it is true in asia. in this modern world, it is not enough just to provide aid. sometimes aid is critical. we're very proud of the work that we've done to prohealth aid that has saved millions of lives with respect to hiv/aids. we're very proud of our ability to mobilize humanitarian assistance when there's a drought and potential for starvation. those are still, what we also believe is that we are your best partners and your best friends when we are building capacity. so instead of just giving a fish, we teach you how to first quarter. and whether it's the work we're doing in agriculture or on energy, our goal is not to simply provide something and then we go away and then later on we need to give you something more. our goal is to help you advance your development agenda so that ethiopian businesses and ethiopian technical experts and ethiopian scientists and ethiopian agricultural workers who are continually building capacity and increasing development inside of the country. and on that we can be a very effective partner. that then allows us also to trade and engage the private sector in this process. so on power africa, for example, we are providing billions of dollars from the u.s. government and we're leveraging the swedish government and world bank to create a fund that helps to facilitate transactions but what we're also doing is working with the ethiopian government to leverage that money so that the private sector says we'd like to invest in ethiopia as well. and, helping advise the ethiopian energy ministry and technical experts on what may be the best models for reaching rural areas, for example, which may not always involve big power plants but might involve off-grid smaller models of development that are sustainable and not dependent upon constant financial flows from the west but instead build up local capacity and are best suited for the particular environment where electricity is needed. so with that i think is going to be true in health, energy, agriculture. the more that ethiopians are able to grow rapidly on their own, then our relationship becomes one of mutual interest, mutual respect and ethiopia then become as leader. it can help other countries that are not as advanced on the development scales. then we can partner with you to help somalia rebuilding after decades of failed governance. >> our next question will come from kevin corke with fox news. >> thank you, mr. president. i'd like to ask you about balance and you often speak about the importance of rewarding good governance. so i'm wondering how do you balance your obvious concerns about human rights here in ethiopia with the desire for increased economic partnership and strengthening regional security cooperation? if i could follow up, have you ruled out or would you consider increased military involvement by the united states in east africa to battle al-shabaab? if so, what lessons could be learned against the battle for isis for example, that might be relevant here? mr. prime minister, thank you for your great hospitality in your beautiful country. i'd like to ask you about perception. for all the incredible things that are happening here in ethiopia, strengthening economy, great investment right now in renewable energy infrastructure, there is still perception, sir, that human rights abuses are tolerated here and that could be really affecting international investment in your economy. are you concerned about that? if so, how concerned and what might you be doing to change that perception? thank you. >> well, as i said in my opening remarks, this was significant topic of conversation. we are very mindful of ethiopia's history. the hardships that this country has gone through. it has been relatively recently which the constitution that was formed and elections put forward a democratically elected government and, as i indicated when i was in kenya, there is still more work to do and i think the prime minister is the first to acknowledge there is more work to do. the way we think about these issues, we want to engage with governments on areas of mutual concern and interest the same way, by the way we deal with china and deal with, you know a range of other countries where the democratic practices or issues around freedom of press and assembly are not ones that align with how we are thinking about it but we continually bring it up. and we indicate that this is part of our core interest and concern in our foreign policy. that's true here as well. my observation to the prime minister has been that the governing party has significant breadth and popularity and as a consequence making sure to open additional space for journalists, for media, for opposition voices, will strengthen, rather than inhibit the agenda that the prime minister and the ruling party has put forward. and, you know, i think our goal here is to make sure we're a constructive partner, recognizing that ethiopia has its own culture and will not be identical to what we do but there are certain principles we think have to be upheld. the one thing that i have tried to be consistent on though is to make sure that we don't operate with big countries in one fashion and small countries in another. nobody questions our need to engage with large countries that where we may have differences on these issues. that is true with africa as well. we don't improve cooperation and advance the very interests that you talk about by staying away. so which have to be in a conversation and i think prime minister will indicate that i don't bite my tongue to much when it comes to these issues but i do so with issue of respect and with regard to the ethiopian people and recognizing their history and the challenges that they continue to face. with respect to our military assistance, keep in mind that we have been active in the fight against al-shabaab for a long time now and we've been partnering with ethiopia and kenya and uganda and the african union and, that is something that i think those other countries would agree has been a very effective partnership. part of the reason that we've seen the shrinkage of al-shabaab's activities in east africa is because we have our military teams in consultation with regional forces and local forces and there are certain capacities that we have that some of these militaries may not and i think there has been combly ministry in the work that we've done together. so we don't need to send our own marines, for example, in to do the fighting. the ethiopians are tough fighters. and kenyans and ugandans are have been serious about putting troops on the ground at significant sacrifice because they recognize the importance of stablizing the region. that is why in the past i said for example, that the work we're doing in somalia is a model. some in the press have noted that al-shabaab is still here, well how can that be a model if you still have bombs going off? the point i was making at that time is not that defeating any of these terrorist networks is easy or that the problems in somalia are completely solved. the point i was making was that a model in which we are partnering with other countries and they are providing outstanding troops on the ground, we're working in this case the somali government which is still very much in its infancy to develop its flags security capacity so we're doing things that we can do uniquely but does not require us putting boots on the ground, that is the model that we're talking about and ethiopia is an outstanding partner in that process. they have one of the most effective militaries on the continent. as i noted in my earlier remarks they are also one of the biggest contributors to peacekeeping. so they're averting a lot of bloodshed and conflict because of effectiveness of their military. we want to make sure we're supporting them. >> we fully understand that the perception and the reality that note in many cases are based on your concern and therefore we want to work on this issue. it is our concern. but, something has to be understood that it is a fledgling democracy and we are coming out of, you know, centuries of undemocrattic practices and culture in this country and it is not easy within a few decades, in our case only two decades of democratickization, that we the problems and challenges we face but we feel we're on the right track and there is constitutional democracy which we all are obliged to observe for the sake of our own people and prosperity. so i think this is a way that we have to work with. that's why i say in my speech we have to learn the base practices of the united states and age-old democracies because this is a process of lending and doing and i think we fully understand that. and of course, we also know our limitations and we have to work on our limitations to make adequately to the betterment of our own people. so i think that is a concern that we have to work with. >> next question for ethiopia. >> thank you. i'm from abc media, 104.7. my question for you prime minister, what do you expect the united states and rest of international community in terms of supporting the peace and security efforts in the horn of africa as well as house successful was your bilateral discussion with president obama, specifically in regards to economic issues. president obama, my question for you is, what are your thoughts specifically on the egad plus peace-keeping efforts in south sudan? >> as far as the economic cooperation is concerned, i mentioned that on page one of the vibrant economies which is important and we need, we don't want to put all our eggs in one basket. we need a consensus quality investment from every corner of the globe and especially at this time we're happy that the president's government is going to support us to question quality investment to ethiopia. we have a long-standing relationship with diplomatic relations but the investment flow doesn't match that long history of cooperation between ethiopia and united states. so i think there is room. recently he which have a number of reknown companies from the united states to invest in my country but we understand we have to improve our investment climate and environment where there are stifling issues here and there, and bureaucratic bottlenecks that have to be addressed. we're on top of them and we can address them. by doing so we can attract more foreign investment from the united states. as far as the security cooperation is concerned i think we believe africans should take our own responsibility by our own hand. we need support from the united states but it doesn't mean that the united states is going to replace us in taking our own agenda in african. that's why with a peacekeeping force the number which the president has mentioned and we are also working on, on, you know, increasing the capability much our troops in peacekeeping. but the most important thing is we have to engage the people of average and our respective countries to make peace and the government system that helps the people to engage. so i think we're on the right track and we can make changes in somalia and i hope also in south sudan. in america this shouldn't mar the picture of africa where africa is rising and africa is showing, becoming an economy of -- economic development and cooperation. so i think we're on the right track in this cooperation. >> egad has been a vital partner to the international community in leading discussions between mr. kier, mr. bashar, opposition figures in south sudan. unfortunately the situation continues to deteriorate. that is not because egad has not tried hard enough. i know that between prime minister al-miriam and other partners in e-fad there has been a lot of time and a lot of effort to push the parties together. nevertheless, the situation is deteriorating, the humanitarian situation is worsening. the possibilities of renewed conflict in a region that has been torn by conflict for so long, and has resulted in so many deaths is something that requires urgent attention from all of us, including the international community. that is why after this press conference we'll be consulting with the leaders from the other countries who have been involved in egad how the united states, egad and the international community can work to bring a peace agreement and a structure to fruition. sometime in the next several weeks. we don't have a lot of time to wait. the conditions on the ground are getting much, much worse. part of my interest in calling this meeting was to find out how we can help. up to this point it is very useful to have the african countries take the lead. as the prime minister stated, the more that africans are resolving african problems the better off we're growing to be but we also think that we can be a mechanism for additional leverage on the parties, who up until this point have proven very stubborn and have not yet risen to the point where they are looking out for the interests of their nation as opposed to their particular self-interest and that transition has to take place and it has to take place now. >> final question will come from darlene superville from the associated press. >> thank you, mr. president. i wanted to follow you on the sudan question. as you go into this meeting that you just mentioned, are you expecting any breakthroughs that will get both sides to afree to a peace deal by the august 17th deadline. if there is no agreement what further steps would you be willing to take to bring that about. if i could ask about iran which you -- administration lobbying of congress to get approval for the deal and would you include your reaction to republican presidential candidate mike huckabee that the deal is equivalent of marching the israelis toward the doors of. mr. prime minister, thank you for your hospitality. would you also add your thoughts on the situation in sudan and how to bring peace over there? the second question i have for you is the committee to protect journalists ranks your country as the second worst jailer of journalists in africa. just before president obama arrived here, some journalists were released. many more are still being detained. would you explain what issues or objections you have to a free press? thank you. >> on south sudan, the goal here is to make sure that the nights and egadd are aligned on a strategy going into this endgame on peace talks. so my hope is that as a result of these consultations that we agree on how urgent it is and what each of us have to do to actually bring a deal about. i don't want to prejudge what i'll hear from the president of uganda for example, until i actually hear from him. the good news all of us recognized that something has got to move. because egad has been involved with consultations from these, special envoys been involved in this for years now, have concluded that now is the time for a breakthrough and if we don't see a break-through by august 17th, then we've we'll to to apply greater pressure on the partys and that is something i think the parties will certainly hear from us. our hope is that the message we deliver is similar to the message that they get from the egad countries and others who are interested in the issue. with respect to iran, you know, i won't, i won't give a grade to our lobbying efforts. in fact i'm not even sure i would characterize it as lobbyings. with we're doing is presenting facts about an international agreement that 99% of the world thinks solve as vital problem in a way that will prevent iran from getting a nuclear weapon and does so diplomatically. and, essentially what we've been seeing is secretary of state john kerry, secretary of energy earn any moniz, who is an expert on nuclear issues, just providing the facts, laying out exactly what the deal is, explaining how it cuts off all the pathways for iran to get a nuclear weapon. explaining how it puts in place unprecedented verification and inspection mechanisms. explaining how we have snapback provisions so that if they cheat we immediately rei'm pose -- reimpose sanctions. explaining how we will continue to address other aspects of iranian behavior that are of deep concern to us and our allies like providing arms to terrorist organizations. so, the good news i guess i have not yet heard a factual argument on the other side that holds up to scrutiny. there is a reason why 99% of the world think this is is a good deal. it is because it's a good deal. there is a reason why the overwhelming majority of nuclear scientists and non-proliferation experts think it's a good deal. because it's a good deal. it accomplishes our goal which sick maaing sure iran does not have a nuclear weapon. in fact, it accomplishes that goal better than any alternative that has been suggested. you have heard me, darlene, stand up in front of the press corps and try to get a good argument on the other side, that is based in fact as opposed to rhetoric. and i haven't gotten one yet. so, if you're asking me how do you think our argument is going, it is going great. now if you're asking me about the politics of washington, and the rhetoric that has taken, that takes place there, that doesn't always go great. you know the particular comments of mr. huckabee are, i think part of just a general pattern that we've seen that is, would be considered ridiculous if it weren't so sad. we've had sitting senator call john kerry pontius pilate. we've had a sitting senator who also happens to be running for president suggest that i'm leading state sponsor of terrorism. these are leaders in the republican party. and if part of what historically has made america great is particularly when it comes to foreign policy, there has been a recognition these issues are too serious. that issues of "war and peace" are of such grave concern and consequence we don't play fast and loose that way. we have robust debates. we look at the facts. there will be disagreements but we just don't fling out ad homonym attacks like that because it doesn't help inform the american people. this is a deal that has been endorsed by people like bret scowcroft, and sam nunn, all right? historic and democratic and republican leaders on arms control and on keeping america safe. so when you get rhetoric like this, it may be gets attention and maybe this is just an effort to push mr. trump out of the headlines but it is not the kind of leadership that is needed for america right now. and i don't think that's what anybody, democratic, republican or independent, is looking for out of their political leaders. in fact it has been interesting when you look at what's happened with mr. trump, when he made some. remarks that, for example, challenged the heroism of mr. mccain, somebody who endured torture and conducted himself with exemplary patriot ism, the republican party is shocked and yet, that arises out of a culture where those kinds of outrageous attacks become far too commonplace and get circulated non-stop through the internet and talk radio and news outlets. and i recognize when outrage just statements like that are made about me that a lot of the same people who are outraged when they're made about mr. mccain were pretty quiet. the point is, we're creating a culture that is not conducive to good policy or good politics. the american people deserve better. certainly presidential debates deserve better. in 18 months i'm turning over the keys. i want to make sure i'm turning over the keys to somebody who is serious about serious problems that the country faces and the world faces. and that requires on both sides, democrat and republican, a sense of seriousness around decorum and, and honesty and, i think that is what the voters expect as well. >> in regards to south sudan i can not agree more with the president but we should also recognize that this process has taken a long, long negotiation period. on the other hand people are suffering on the ground and we can't let this go unchecked and i think the meeting which we're i can meeting this afternoon has strong signals and message that has to be passed to the parties in south sudan to see that -- so i think this is very much the situation and i, i fully recognize what the president has said and we'll see how it happens. as far as ethiopia concern we need more of them and quality of them because we have not only many stories to be told but we have many factual stories that has to be told. so we need you. this is very important but we need ethical journalism to function in this country. there is limitation capacity in all aspects of our works, there is capacity and limitations in journalism and in that way, maybe those of you who are developed nations you can help out journalists, domestic journalists to increase their capacity to work on ethical manners but the only thing as leader of this nation we do not want to see is journalism has to be respected. when it doesn't, you know, pass the line that working with violent terrorist groups is not allowed, even in the united states. and we need a civilized journal ism as a country and as a profession. so i think my government is committed to see, to this issue. that we need many young journalists to come up and help this country to understand what's going on and for us it is very important to be criticized because we also get feedback to correct our mistakes and limitations so we need journalists and i think this is our view and the rest assured that we continue to do so because media is one of the issues that has to be newt toured for -- nutured for democratic discourse. we agreed in additional capacity building in all aspects of democracy in this country is essential. >> thank thank you very much. thank you. sandra: there you have it, president obama wrapping up with the prime minister of ethiopia saying that the united states is a strong partner with ethiopia, referencing ethiopia as one of the strongest growing economies in the world. also pressing security issues, human rights issues. the more ethiopia grows the president says the more the u.s.-ethiopia relationship becomes mutual. he was also asked about iran and iran-u.s. nuclear deal saying this is a good deal reiterating, addressing his critics on the deal. i want to bring in anthony on that one you were listening there and said -- >> define factual arguments. i will bring up three quick facts. just back from israel. there is nobody in the israeli security council will say that the 24 days is just too long of a period of time for the inspections. number two, this will proliferate a arms race in the middle east that we do not want to have. and the last big thing, which i'm super concerned about is that the sanctions are actually working. it was crippling their economy and once you unleash all of this oil, there will be hundreds of billions of dollars come into the iranian islamic regime that is sponsoring terrorism all across the world but specifically in iraq which is going to be a major destabilization of the region. he is not addressing any of those things. he has to be held accountable for that. sandra: politically he made a lot of news out of this conference as well. we heard him basically attacking the republican party, referencing the attacks by donald trump on john mccain. he -- >> this arises out of a culture of attacks that have become far too common. if you're going to take my job, if i hand the keys to you in year-and-a-half you need to show some, be serious and show some decorum, i'm paraphrasing. he didn't endorse hillary clinton, did he? sandra: no, he didn't. stop short of that. some will say, michael mukasey, i want to bring you in on this former u.s. attorney general. we were listening here. dagen came the content he stopped short of endorsing hillary clinton but you were referencing, well, joe biden has yet to throw his hat in the ring. some of these comments coming out of ethiopia, the president saying in response to the nuke deal, if you're asking me about the politics of washington and the rhetoric that doesn't always to great. he said comments of mr. huckabee, referencing huckabee's recent comments part after general pattern would be ridiculous if he weren't so sad. maybe this is -- >> talk about rhetoric? sandra: there is a lot of rhetoric coming out of the speech today. what do you make of the president's comments here? >> i think it is easy shot to get up and say you haven't heard any factual arguments when there is nobody sitting on other side of the table to make them as anthony just did and anybody else could. the fact that iran will still have its nuclear equipment. it is still going to have its nuclear program. it is still going to its sight at araq. all of these things are sacred and sacrosanct and protected. we'll not have access to military sites. iran will decide what is reasonable inquiry and not reasonable inquiry and there will be period of back and forth before we inspect. the notion that somehow sanctions will snap back is ridiculous because even among our allies it took months, sometimes years to get sanctions in place in the first place. once they get taken off, there is no way they can, quote, snap back. sandra: okay. lastly a quote from the president coming out of ethiopia, specifically this riff he seemed to go on against republicans when he was referencing governor huckabee's most recent comments criticizing the iran nuclear deal this is part of a general pattern we have seen would be considered ridiculous if it weren't so sad. obviously there will be more. we're watching a lot of other top stories this morning as well. china stocks by the way in major selloff overnight. shanghai composite there, another sharp selloff, more than 8% drop there. we're watching it for you. this is the sharpest daily percentage drop in the markets going back to 2007. the government measures to stem those losses may not be working. the shanghai right now is off 28% from its high in june. u.s. stock owners, not really seeing the significant selling that they saw there but look at that. u.s. stocks futures furthered their losses as the president was speaking. you have the dow futures off one hundred points. s&p futures off 10. selling was exacerbated as the president was talking there. we'll have more on the president's comments in a little bit. stay tuned. so you're a small business expert from at&t? yeah, give me a problem and i've got the solution. well, we have 30 years of customer records. our cloud can keep them safe and accessible anywhere. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberyy apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. republicans, by name was a little a little bit shocking, red light related to iran deal goes off course talking about trump comments about senator mccain, and this is out of a culture of attacks that have become too common certainly not going to sell tehran deal, going after the republican presidential candidates is he? have. >> he is going to sell it any way he can, and it is -- it is easy to get up and characterize opponents any way he likes as i said before there is nobody on the other side of the table calling him on it, the fact is that the -- the rhetoric as he puts it is coming from, everybody, from -- john mccain himself, who opposes the deal lindsey graham o poses the deal to people in his own party who oppose the deal for good reason. those people he doesn't mention. >> governor huckabee's comments over the weekend he directly addressed by the president in the speech moments ago, huckabee over the weekend, made some comments, and he has not backed off them, by the way, president obama has basically marchered ooildz to the door of the oven foreign policy he said most feckless in american history, meanwhile, the president obama spopdz to comments saying if you are asking me how our argument is going, it is going great, the politics of washington and the rhetoric that takes place that doesn't always go great. >> so, just putting in historic context in the last time israel or the -- the state of was threatened what did europe do they held compliance with adolf hitler, when you go to israel, your superworried about the existence of offis wall you get on the ground in israel recognize what extensionshal threats are. >> he said that the comments of mr. huckabee i think are part of the general pattern that we have seen that would be considered ridiculous, if it weren't so bad, more in a minute more weening to next. the promise of the cloud is that every organization has unlimited access to information, no matter where they are. the microsoft cloud gives our team the power to instantly deliver critical information to people, whenever they need it. here at accuweather, we get up to 10 billion data requests every day. the cloud allows us to scale up so we can handle that volume. we can help keep people safe; and to us that feels really good. . . . sandra: we are back with former uas he attorney general michael mukasey talking hillary clinton, following up on president's comments just moments ago, we're looking at hillary clinton and the e-mails, and were they classified or were they not. >> well she said -- she said in a statement that can only be described as clinictonian they weren't classified at the time, obviously, she doesn't have a little classification critter on her shoulder tweeting out whether something is slaved when it comes off finishing tips out out of mouth the information, that goes into the messages, is obviously classified it is coming from highest ranking u.s. foreign relations officer in -- in the country. so it has it is all at least sensitive and probably secret and some is top secret. >> inspector general would comes out he reverses course on friday said the reform of the justice department is not criminal what is it if it has been referred to justice. >> if referred to the justice department, it can be referredet to bring a lawsuit to recover damages is not what is going on or it could be referred for investigation, whether a crime is committed who committed it, it is obviously in the second category, and dancing with words when they say it wasn't a criminal referral that is the only kind it could have been. >> you ran the justice department, if someone tried to coerce you into saying something that wasn't true, how did they getaway with that? >> short answer don't necessarily in the to coerce this justice department. >> i mean, and, by the way, she is saying the facts are pretty clear. compact words in response to all this, and to me that says -- [laughter] defense. >> yes, indeed, facts are pretty clear the fact is she destroyed documents, and evidence that she had need right to believe was going to be subject of a subpoena if it wasn't already that in itself is a crime under a statute passed when she was in congress she voted for. >> thank youening to michael mukasey for joining us early this morning. >> thank you. >> dagen, anthony please stick around next hour -- >> we may need -- we're joined by former irs commissioner and current republican candidate for president, mark ever ston see a market sell-off we're going to have ploer on that in just a minute. when laquinta.com sends craig wilson a ready for you alert the second his room is ready, ya know what he becomes? great proposal! let's talk more over golf. great. how about over tennis? even better. a game changer! the ready for you alert, only at lq.com. . good morning. i'm sandra smith for maria bartiromo, it is monday morning, july 27th with me the hour fox business dagen mcdowell sky bridge capital wall street week host, breaking news this morning, there is a chinese stock market sell-off that continues, the shanghai composite, off 345 points a drop of nearly 8 1/2% in today's trading the sharpest drop since 2007, prompting concerns that the government may pull measures to prop up the market, the shanghai off 28% from the high in june, u.s. stocks mark -- stocks investors showing some signs of concern, now we've got dow futures off 107 points right now, the leader to the downside this moment nasdaq futures, off 31 points, 7/10 of one percent a multibillion-dollar deal in drug sector, to report this morning, allergan saying it completed a deal to sell global generic drug business the total value 40.5 billion dollars, with allergan receiving almost 34 billion in cash nearly 7 billion public stock president obama continuing tour through africa this morning the president left father' homeland kenya sunday challenging that country to tackle corruption sexism, division, moments ago, he spoke in a joint news conference with ethiopia's prime minister taking shots at the republican party in the gop race. >> i am proud to be first u.s. president, to visit ethiopia and tomorrow first u.s. president to decreases at the african union my visit realisti importance united states places on relationship with ethiopia. >> blake berman standing by at white house, blake what are you hearing on the hill in response to the president's comments moments ago? >> well, i will tell you what was so interesting about this, sandra you remember there was a news conference at the white house a couple weeks ago on iran this is where, all of this derived from back then, when donald trump was brought up the president he pivoted away from it day pivotde. toward donald trump a change in direction over the last couple months, as far as -- last couple weeks as far as the way trump is being viewed at least by the president. sandra. sandra: it was -- anthony one point we were sitting here said the conversation or the topic went from ethiopia and the -- the prime minister comments there to all of a sudden this rip on republican party! . >> i think it is irirresistible not to chime if after what he saw with donald trump last three or four weeks probably told hold back a little tired, about they get the press is out there, and i think he went after the guy, and it will make interesting theatre because you will see trump's rebuttal shortly if not out there already. >> i am checking no response from trump on twitter. >> it wasn't just the trump it was candidacy like huckabee suggesting the candidates are using strong rhetoric to try and compete with donald trump's rise in the polls then says the kind of talk arises out of a culture of attacks, that have become far too common i am ready to hand over keys to white house in 18 months, who ever gets them, should be, be should take the job seriously should have decorum, stop lecturing. >> good strategy as for the president this ad hominen approach is a way to deflect criticism from iran deal, basically going to say listen these guys don't like me that is why they don't like iran deal, that is narrative trying to thread with that my thinking. >> increasingly gutsy speaking his mind if talking like this now, what about -- a year from now? it is is he going to weigh in on every candidate like tussle between now and next november. >> you are know it all relative at the dinner table. >> i compare president with my grandmother. >> stand by on the other side of this we have got sound of the president moments ago in ethiopia talking about that iran deal, listen. >> 1 months i am turning over the keys -- 18 months i want to make sure i am turning over keys to somebody who is serious about the serious problems that the country phases faces, comments light with twitter up saying who is he to turn over keys decide who is taking over the white house when gone that is not the role of the president. >> certainly not the role but clearly the way that he advise this as we've seen in the last really month or two this is a president that started to open up, and look toward the finish line a lot of folks saying this is the point at which trying to define this is legacy going forward that sound bite you played was really a direct shot once again, at donald trump. as we've seen trump rise in the polls this is one of the first cases i believe, sandra, keep that in mind this was this the context the question brought up about iran nuke deal mike huckabee's comments went from iran to huckabee to trump it was clearly a permissi interesting the pivot turning over the keys doesn't mention anybody on democratic side makes you think a little bit, that he is though i being a republican president. >> possibly that, or as michael suggested, and many have suggested, he is waiting for joe biden to throw his matt in the ring endorses him. >> supercertain about the race worried donald trump is presidential nominee. >> as president was speaking, on ethiopia and other subjects as going after the republican party and republican candidates the dow continued to sell off we saw markets down ofbt session following weakness in asia, we had at a huge he sell-off in shanghai dropped more than 8%, but now got dow futures off triple digits s&p has further gone down nasdaq futures off 7/10 of a percent the selling seems to continue, there is a lot of concern i'm hearing politically about who takes over hillary clinton seems farther to the left. and the anticipation blake maybe you can couldn't if we saw a hillary clinton presidency you are talking about a lot more rules and regulars, on washington potentially, that is how she has been campaigning and that would scare wall street. >> we saw last week, bank regulations, that she wants to wants to put into place if elected today as well, her climate agenda, is being put out there, in which see that talks about 500 million solar paemz she would like to see first were term of presidency. >> now goes to the heart of wall street investing -- more than that the capital gains tax proposal. >> extraordinarily complicated burdensome, however, i said this on the fox news show over the weekend, it is not going anywhere. that proposal will never go anywhere, as her way of trying to lure people in saver of bernie sanders sounding as left as she possibly can attacking rich not attacking them enough that it would hurt heri heri hering fund raising. >> let me stick my finger in the wind figure out what is staying and then going out there and say it. that is disingenuous never gets people elected don't understand why that strategy. >> trying to lure the make sure that she has at a democratic vote locked she failed to do and president obama came along and got the nomination. >> that is not where markets are markets are off because of the fed because of china, the fed, and energy prices, probably in that order right now. >> good point, all right more in a minute blake berman thank you in washington, by the way, to continue this conversation, and more on president obama comments moments ago, i want to bring in presidential candidate and former irs commissioner mark. >> thank you for joining us. >> good morning. >> first of all, you probably had a chance the president's comments moments ago in ethiopia we certainly have, what did you make of them? >> you know, we have a tradition in this country where we don't creative the president when he is overseas. i would think a two sided coin and that he wouldn't be getting back into the domestic politics i am a little disappointed. >> interesting. yeah certainly going after a couple ef republican candidates, there but yet stopping short of any real endorsement of hillary clinton and such. meanwhile, we wanted to talk to you about irs audits americans are still vulnerable at this moment, in time. for their beliefs and associated when audits in the country as former irs commissioner as you continue to see the theme play out in washington, with the president, and these irs audits, what is your take your latest take on this situation? >> is it i'm disturbed because the president has once again i think very unwisely weighed in on this situation, it is not -- third time when election cycle under way criticizing c4's many believe gave lines to some things that happened his super bowl interview said there was no corruption now once again saying no targeting, well, the inspector general pretty we'll determined there were real problems, here. and there's remains an active department of justice investigation so the president shouldn't get anywhere near this it is totally inappropriate to say what he has been saying. >> he is saying this is all just a mirage. >> right, right. and look. i think that is pretty we'll rebutdz by inspector general's report and irs own admissions that what they did was dead wrong here. >> hillary clinton. making news with their capital gains tax proposal the former irs commissioner, i am sure you've got a response or at least an opinion on that some say accounted for steep losses on wall street when she played the announcement. >> she starts from a premise that the -- industry is taking short term decisions, look i worked in both industry and government, it is the government that takes short term decisions, never look past two years out when next election is there, so i have a tax proposal i favor competitive tax proposal when would a hybrid approach 150 million people off tax rolls income tax rolls catapults in consumption tax lower rates on remaining high income earnings over 1 over 100,000 today income it would get the economy going and get the irs out of the business of -- of 150 million americans that is pretty good approach, i think i don't favor what she is doing i don't think it makes sense. sandra: mark i've been saying the person who should be about possibly i think has best chance of being president this united states is someone who shows they can create a business friendly environment in this country was so many small businesses, and individuals alike feel that business has been attacked in this country quite sometime. >> um-hmm. sandra: is it possible to tirn th turn that ship around. >> i think so if we revise tax job better job on regulator it doesn't work to say you can't have recreations they need to be balanced fair you can't overrealism i am running for president in large part because i think the executive branch is overreached any number of yarz you can't take a law reinterpret it as this president has done to extend its reached that is he doed wrong we need constitutional governance help small and medium-sized business can't be animal for big dies. >> is deep bench of republican candidacy good or bad for the party. >> i think a greatening, because we are having a robust debate about the future he of the country, all she is doing is having a debate with the far left really i think putings hers in positions that she is not going to be able govern if elected. >> i guess -- hillary clinton mark great to have you this morning, and thanks for joining us so bright and early. >> thank you. >> good luck to you president obama, taking shots at the gop meanwhile, claiming he needs to make sure he is handing the keys to the white house, to a capable replacement he said that more on curious comments here next. pushes us to go furt. special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or information to track their personal best. with microsoft cloud, we save millions of man hours, and that's time that we can invest in our athletes and changing the world. wall street journal," this morni morning, raising i brows on wall street only 6 stocks that matter the journal saying amazon google, apple and just a few other firms that count for the majority of the nasdaq record gains this year, leaving some worried, your thoughts, on these six stocks apple and google among them. >> well listen, apple and google i would take to the -- side -- they have got he fundamentals long term value, works for google big upside surprise in earnings, and growing in issue ka, i am more worried about the amazons and netflix don't have underpinnings of the value they have a lot of momentum behind them, and so in a market swoon if something should happen in a breakdown, these stocks could gap down 10, 15, 20%. >> not unlike what you are seeing in china in fact the i couldn't norria, and the kind of intoxication of the retail investor based purely on brand. >> fixed horse mep of the current bull market two of those six are actually very good values, and worth holding at heirlooms. >> biotech this is standing out -- >> no question, we were talking about this in the greenroom about the age of i am munao therapy upon us end of chemical therapy i don't think we had byron wien talking about biotechnology revolution i think there is going to be real drug deliveries drug therapies. >> you are seeing that it is astonishing the way like the treating of -- metastatic melanoma lung cancer changed but as we were talking about here the one thing, that is going to get in the way of these companies, drugs are coming out at exceedingly high prisons hundreds of thousands of dollars per treatment, watch for the government will end up stepping in to do something how drastic would it be in terms of drug pricing. >> that is definitely, uncertainty. >> streamings you look at netflix so many competitors out can netflix remain -- >> i walk out charles payne is going to hit me harder a big fan of netflix he has been right he would say consensus wall street side has been wrong the big message i would like to get retail investor is that you have to be very, very careful with these sorts of stocks, because they go up, until they stop going up, there is no reason other than the momentum here the valuations superworried you mentioned streaming losing half a billion dollars a year spending more next year, on their own production capabilities. than prior years, as relates to the streaming in general because of new internet protocols not superworried about ability to deliver but xbs associat expenses associated. >> the stock market stock market selling off in china leading weakness u.s. markets ahead of the open some chinese u.s. based chinese companies are update from charlie our senior editor here fox business, pointing out alibaba a big loser in premarket session off nearly 3%, that, of course, is big retailing giant out of china listed trades in the united states we are watching all that for you, ahead of the opening bell up next much more on the president's shoktdz press conference comments mr. obama suggesting that he will play a role in deciding who will replace him at 1600 pennsylvania avenue. >> 18 months i am turning over the keys, i want to make sure i am turning over the keys to somebody who is serious about the serious problems that the country faces and the world faces. my drivers don't have time to fill out forms. tablets. keep them all digital. we're looking to double our deliveries. our fleet apps will find the fastest route. oh, and your boysenberyy apple scones smell about done. ahh, you're good. i like to bake. with at&t get up to $400 dollars in total savings on tools to manage your business. tand that's what we're doings to chat xfinity.rself, we are challenging ourselves to improve every aspect of your experience. and this includes our commitment to being on time. every time. that's why if we're ever late for an appointment, we'll credit your account $20. it's our promise to you. we're doing everything we can to give you the best experience possible. because we should fit into your life. not the other way around. sandra: it is a seismic shift in the world of luxury retail neiman-marcus teaming up with the real, real, customers able to resell their used goods, via the real, real, and even get paid in neiman-marcus gift cards joining us with more on this is real, real ceo, good morning, and thanks for being here. >> good morning. sandra: you appointed out that lovely neck class is real, real. >> sold on real, real. sandra: there you go, all right. so is there room for this in the marketplace? >> is there room? we've been doing this now for four years, we're going to be well over 2 hundred million dollars this year, and the reason neiman is excited we are paying out to consigners over 100 million dollars, so it we're -- >> going well -- >> yes going well, and when coming a force in driving people back into the stores. >> so luxury right now is it doing okay? i mean, there is -- we talk about the employment numbers weekly, they recovery has been slow, are people spending? . >> luxury has by if you are kaitsdz, strands in the middle struggleling, so brands are doing well high brands doing well. >> something i noticed about the consignment end the seller gets 60% of the sell a priez of the consigned goods that is a lot higher that had been most consignment shops people know around the country i think used to getting, maybe, 10 cents on the dollar for something they sell. >> certainly for jewelry, most people get 10 cents on the dollar consignments about 40%, you can make up to 70% with us if you have neiman-marcus gift card you get another 10% more, on your consignment. >> 10% discount on neiman merchandise getting the name and gift card. >> really how it works say you get 1,000 dollars consignment in sales you get 1100 dollar gift card to spend at neiman a huge benefit, to drive back into neiman. >> 10% in addition. >> for the amount you sold on real, real. >> what is most popular things you sell on your web site necklaces bracelets. >> fine jewelry watches have really come up we are primarily sitill a tags sight luxury from mhl, louis vuitton. >> how do you find goods to be consigned. >> i know you are struggling with inventory, therefore the deal with -- neiman, vin. >> no, we're not struggling with inventory we go to people's homes across u.s. we process all day long we and an into fine jewelry watches even take some home in art, we have o tens of thousands of consignments in major cities when neiman's did a test with us starting working with us to see if customers want to consign, and it was an overwhelmingly positive for them because they spend a lot of money on goods at the beginning really are sensitive to the resale value if you can get value out of what you bought two years ago, it is great for both parties, for us and for them. >> all right, thank you so much real, real ceo thanks for joining us this morning. >> thank you. >> all right up next president obama singling out mike huckabee for comments critical of the iranian nuclear deal, a direct criticism rarely seen from a sitting president in a political replacement. >> the particular comments that mr. huckabee are -- i think part of just a general pattern that we've seen that is -- uh -- would be -- considered uh -- ridiculous if it weren't so sad. can a business have a mind? a subconscious. a knack for predicting the future. reflexes faster than the speed of thought. can a business have a spirit? can a business have a soul? can a business be...alive? protect and manage your home.o at&t digital life home security and automation. digital life gives you round-the-clock monitored home security for your family's peace of mind. plus you can keep an eye on your home while you're away... ...and open and close your garage remotely. because we all forget sometimes. so call now and for a limited time get at&t digital life home security and automation for a one-time fee of just $99 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overnight. early this morning allergan completed a deal for the global drug business to teva pharmaceuticals. up nearly 10 backs in the trading session. allergan receiving 34 billion in cash and 7 billion in stock. president obama continuing to tour the roster cut this morning. moments ago he spoke at a joint news conference with the prime minister who took shots at the republican party. >> 18 months i am turning over the keys. i want to make sure i turn over the keys to someone curious about the serious problems the country faces in the world faces. sandra: did he say i want to make sure i turn over the keys? is he saying he decides he turns over the keys to. the >> used the pronoun i a lot. he is focused on the republicans. he doesn't bring up the democrat side. >> that requires democrat and a public in a sense of seriousness and cornyn on estate and not is that the voters expect as well. dagen: you had an opportunity to talk about one democrat and you didn't do it. sandra: >> does he endorse joe biden? he tipped him as his number two guy. what about the deal he had with the clintons in the democratic national convention. dagen: the irony is he talking about trump and the trump tax and criticizing the republican party but the irony is he's doing the same thing he's accusing the republican party of doing. he's been critical of them. he stopped short of name calling but nevertheless the criticism trump made our rises out of a culture with outrageous attacks have become far too commonplace and is circulated nonstop. >> there is a defensive posture that then of course fired up when he was questioned on his critics when it comes to the iran deal and then when it came to responding to questions about governor huckabee's comments in response to the deal. typically gridlock in washington has been good for the stock market appeared the back-and-forth is not right now. they sum up worse than as the president is talking. the list of the session ahead of the open on wall street. >> it's less related to the president and more what his coat on in china and also the federal reserve comments from janus yellen. if you look at where the u.s. treasury market is as well, the market setting itself up for high probability of 25% rate increase in september. couple that with the reduction in energy prices. one big problem because we are close to a net exporter is energy prices go into the 50s and it's impossible for show producers to produce oil. dagen: everything in this world has a wide now. why would he make those comments now. is it to sell the iran deal? does he think going after -- let's bring in john hilson wrath. >> that is the ad hominem approach is taken. >> chief correspondent, credit issue in on the conversation here. the comments under president obama from ethiopia is unbelievable. he says i've got a turnover the keys to someone who will take the job seriously. >> more of the same and the president. i don't think this is a discipline moment. the president is speaking from the heart and he doesn't like most of the republican party. that's what is domain. it's personal down here between republicans and president obama. >> he went on to scold certain gop presidential candidates are and every ideal. >> in particular comments of mr. huckabee are part of a general pattern we've seen bad days -- that would be considered ridiculous if it weren't so sad. sandra: john, those comments obviously related to the iran nuclear deal will lead to the dorothy of them. the president directly responded. >> be anything interesting for me is the president talks about a pattern. my sense is when his term is over in 2016, this is not just walk into the sunset with previous presidents have. he will very much be out there. particularly in the political arena and let his people help democrats get real lack it. i don't think he'll be like george bush who just goes off and disappears. dagen: i'm only smiling because anthony and i have that exact conversation about an hour ago about. is it going to be silent and live the country quiet. >> interest rates near zero. we've got some durable goods with the biggest gain since august 2014. these are sort of short-term numbers to still play a part in the decision. where we ask? >> first of all, those are very volatile numbers you have to be careful getting too excited on any big increase. whether is right now as they clearly set the market up for at least one rate increase between september and december. they've got a statement later this week. they will point to an economy that is improving and confirm the sense they will raise rates later this year. the big question is whether they do to and that will depend on the economic data and whether we have two more strong jobs report. i think they go in september and december. >> john is right. i've been wrong on this because i thought they were born to wait until march of 2016. this is very data dependent. if you look at the data, it will rise now. sean and i -- >> the durable goods is three-point r.%. i was thinking in the durable goods numbers. it was due to strong airlines. last word to you as a look at markets down significantly ahead of the opening. everybody wondered when that will calm in the two-day meeting starts tomorrow. >> one of the other wildcards today is commodities in china tied together. i think what is going to drive that is a further deceleration in the chinese economy which pulls back the commodities market. i'll be watching that closely the next month. it will be hard to raise rates if inflation numbers continue to be very soft. a slowing chinese economy put downward pressure and that could be something that forces them to hold off. trained to look in a oil at seven and change. still during the thousand dollars level. thank you. >> okay, thank you good morning president obama shocking comments and looking to follow him into the white house gatekeeper right here on fox business network. we have got more coming out. we live in a world of mobile technology, but it is not the device that is mobile, it is you. sandra: to new york attorney general's office taking a shot at high frequency trading. the latest target credit suisse, our own news correspondent has all the details. nothing makes my blood boil more. >> wishard point out they are wrapping up a case against dark blue abuses. what they are looking at, does it give the high-frequency traders. to does get the high-frequency traders demand for the engage? that's the broad outline. let me just finish these headlines. here's hoping now. they are wrapping up their case. we should point out the ceo is on the board of the 21st century fox. that just shows you we are fair and balanced and go after anybody in the world. the case is being wrapped. coming in a couple weeks and i hear they will mirror the case brought against barclays. other players do not have access to fast information of vast trading. high-frequency traders can program the other trades. a lot of tension has been put on high frequency trading. we should also point out regulators have not filed a single case against a major -- this is whether he deserves a tip of the hat. it is a private exchange. the new york stock exchange has a lot of disclosure. i'll tell you, this is the problems with market structure right now. the exchanges are like though wild west. high-frequency traders -- >> we should point out they refuse to deny this. i spent all day going through the story. we chose not to comment. i told they'll be taken as do not deny. we should point out our clays was brought here ago. he's gone at this pretty methodically. basically one year to the day they are likely to bring another case within the weeks. >> the broad comment is it is not illegal. you have to figure out now. they are saying you are a big bank. based on most measures, the largest art pool, you are one of these banks that operate in art will. you don't disclose everything to your investors and we are going to dq for the the lack of disclosure. >> the bigger issue is whether they will change the policy and if they do they can't make things illegal retroactively. >> they will put so much pressure on the dark pools because if you talk about the marginal abuse it does occur, more pernicious activities. if you look at the activities if you then add the rules and start putting people of muslim must start pools so they can't give the advantage to the high-frequency trading, they will be less start pools and less market fragmentation. fewer markets. maybe not a flash crash in a few years. market fragmentation was the reason behind. >> high frequency trading has improved the overall environment for the retail investors and increases liquidity and market and price discovery. >> i agree with you. sandra: she is such a phony. he would come in and say those guys rip off pension funds and mutual funds. sandra: where does he work and how long did the work there? >> how long did you work on wall street? sandra: many years actually. thank you for reporting on the fox business network. i will take you on that argument any day any time. excuse me, what did he do? what is he accomplished? nobody wanted him. he was a failure. president obama weighed in with direct criticism on some of the top candidates. how does the man known as the great communicator react. set that up, charlie. i'll take it on. sandra: president obama going after the republican party. he hopes to hand over keys to the white house to someone that is serious about the job. could he mean the month similar to president ronald reagan. joining me now is reagan remembered, gilbert robertson. good morning. the president making some comments directed towards gop candidates in this race for the presidency. almost they do not look like he's deciding who he will hand the keys over to. >> that is unusual. you would never have reagan do that. i just finished reagan remembered. we have anecdotes about people very close to them. reagan had an 11th commandment. it was speak no evil of other republican candidates and of course this is being violated left and right in this campaign and it's unfortunate. sandra: how do you compare now to break in time? >> and reagan tied you have to think about to eisenhower was 15% independents, reagan 20, now about 42%. independents are searching around. they don't have a leader like reagan. too many candidates and it's a very different time. reagan lifted everybody out. didn't tear them down. >> it just seems like the contentious times we are seeing, political environment is like no other time wasting in history. what do you think ronald reagan would do or say today to make things better? this! he demonstrated it. he and tip o'neill would fight like cats and dogs and that night they would have a drink together. >> i do think president reagan would feel about the potentiality of a nuclear iran? >> i think you would think what people are talking about now for don't do this we will bomb iran. he would say let's use all the diplomatic means. let's talk to him. he brought one of the greatest things to happen to the world is he got rid of nuclear weapons, the only person to do that. gorbachev ended the cold war. sandra: ronald reagan got things accomplished you could not get done today. this is more of a question dealing with illegal immigrants in this country, just basic things that if the republican candidate talks about some of those. >> remember, when he came into office he had 20% inflation. they brought that down, restart the economy. he gave everybody a good feeling you how to lead in to lead and he also knew how to compromise. in the oil, reagan remembered, he said look, jim, let's get 80%. let's not go over the cliff trying to get everything. sandra: based on everything about ronald reagan, he resonated with the american people at that time. why do you think donald trump is resonating with the american people? >> the independents are strong and they are very upset with the gridlock in congress. he has picked one issue and i think when you were a jhe has pi think when you were a johnny one note, you resonate with a certain amount of people. i don't think it's going to last. you can't audit the parameters of what reagan said. speak no ill of your fellow republicans and he takes on john mccain who is a war hero and says he isn't. take some of the grim has a very good senator and others. he is kind of taken himself off the reservation. sandra: gilbert robertson, thanks for joining us. great to have you. also thank you to dagen mcdowell. it's been a fun couple of hours. stay right here. first a quick look at the features that the markets open just moments from now. you've got the dow futures up 118-point, s&p up 12. that's where at&t can help. at at&t we monitor our network traffic so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most. >> a quick look at u.s. futures. dow futures up 119 points. the shanghai composite within a percent in overnight trading it looks like weakness. "varney & company" starts right now. stuart: sandra, thank you are a match. he declared three weeks ago and dominated ever since. today, donald trump is out front. good morning, everyone. he is surging everywhere, top of the pole in new hampshire. the first debate is just 10 days away. hillary puts out a video and marches further to the left. she wants a new expanded bush for green energy. how about half a billion solar panels installed in her first term. who pays? stocks

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