The air max one sneaker is now selling for on one specific secondary market that if youve got a teen son or daughter, nyo know what this is. Its moving as we speak. Meanwhile, boeing moving as well, still dealing with its own controversies at this hour as delays and backlogs of its 737 max jet could soon be cutting into profits. American air carriers still feeling the effects of the grounding of that plane. In fact, they are making changes right now. Wall street journal aviation reporter has broken multiple stories on this. Hes here in a fox business exclusive to give you boeings latest flight plans. Facebook facing its own challenges, with fake cancer cure ads and the scary situation at its headquarters during this hour yesterday. But its Cryptocurrency Libra is full steam ahead. We have one of the key links in the Facebook Libra blockchain. The cofounder and president of a Company Called anchorage. Who and what are they and why is everybody talking about them as one of the strongest links in this new crypto world . Its a fox business exclusive. On wall street, the s p 500, hey, any gain today would be an alltime second Straight Record high. Weve got a gain now of just under a point. We are watching it right now. The dow trading in a tight narrow range here, just 115 points, but we are down only 11 at the moment. The nasdaq, down eight but oil and energy are crumbling. Whats that about . We will tell you. Less than an hour to the closing bell. Lets start the countdown. Liz breaking news. Did europe just take a big step towards saving the European Union . Leaders and eu member nations have just nominated that woman, International Monetary fund chief christine lagarde, to lead the European Central bank. Shes a highly respected former chairwoman of top American Law Firm baker mckenzie, who later served as french finance minister and she will succeed the current ecb president mario draghi whose term ends this october. Lagarde will take a break from her imf duties during the formal nomination process. The 63yearold lagarde widely credited with using a tough hand but an iron glove to finesse the rescue and recovery of greece during its financial crisis. The belief is she will bring european nations together, even ones that are trying to leave the eu or thinking about it, and save the European Union. Well see if she does it. To the markets. Investors are kind of acting like theyve got one foot out the door and to the beach for the fourth of july. We have the markets moving at the moment. Stocks, though, are stuck in a sort of very tight dare i say jittery range but theres a signal screaming something and you guys get to decide. I personally look at this and think it might not be so positive, but it is the tenyear treasury yield. See that number . Right now it is yielding 1. 97 . Yesterday it was at 2. 01 . That is a more than twoyear low. It means that people are flooding into the safe haven asset. The price of the bond rises, the yields are dropping at the moment. This is a fear trade that is playing out at the moment. Part of this may be crude oil, not sure, but crude oil bears are drawing some big blood in the aftermarket session. Check it right now. Just about 20 minutes ago, we were down three points, 3 , rather. We are now down 4. 5 . Weve got this crude awakening for oil as waning Global Demand fears win over production cuts that the opec plus russia just agreed to. They agreed to extend the supply cuts until march of 2020. Thats done. Opec plus includes of course russia and then reports on weak manufacturing here in the u. S. But also, global activity killed the afterglow, leading to todays declines. We remind you, we are in the aftermarket session right now for crude itself but Energy Stocks are trading and boy, are they trading. They are taking a walk down the plank. We have apache, eog both down 5. 5 plus. We have eog, Pioneer Natural Resources and devin energy along with contraresources. Tough day if you own energy names. If you dont, you were looking to buy them, they are at a discount, right . Theres always another side to this. From barrels to kegs. The biggest ipo of the year is on tap. Thats Anheuser Buschs inbev asian arm. Its going to list on the Hong Kong Stock Exchange this month. Budweiser brew iing is looking raise nearly 10 billion. It could be the biggest ever listing of a food or drink Anheuser Busch is up 2. 5 . We know chinese loive it. They like beer. You just saw for a second a flash of the nike stock. Nike is feeling the First Financial effects of its decision to cancel the sale of its betsy ross flag sneaker. Remember how it begins doesnt necessarily mean how it will end. The wall street journal was the first to report that the American Revolution themed sneaker called the nike air max one usa which has that flag on the back by the heel, it will not be sold as planned ahead of the july 4th holiday. Nfl quarterback Colin Kaepernick best known for his controversial kneeling during the national anthem, reportedly told the company that some people find the early American Flag right there on the back quote, offensive, but nothing like a fresh dose of controversy to juice demand. Check it right now. Weve got this website called stockx. Com. It is on your screen right now. It is basically an online secondary marketplace thats selling the shoe that nike pulled, dont know how they got it but they get it, 13 white stars on it, the highest bid for the sneaker right now is 3,000. The highest bid right now, ive got it on my screen, wait a minute, which is it . The lowest ask is 3,000. Last sale, 2500. This is a size 13. I believe they did sell another pair minutes ago for 3,000. That was in just the last hour. Its unbelievable whats happening here. Nike, if you dont think they knew this was going to happen, trust us, they did. 2 05 p. M. Eastern is when they just sold one pair. Again, more than 2500. They are going like hotcakes. Condition, brand new, as you see. This website, who knows, one day they may very well go public. We have been taking a look at nikes stock since the companys controversial decision way back couple of months ago to feature Colin Kaepernick in one of its just do it ads. That was september 4th of last year. The stock is up 6. 5 . Kristina partsinevelos is live outside our studios in new york city, not far from the nike store. You know controversy is not so bad sometimes. Reporter no, definitely. Bad publicity could be good publicity. I reached out to nike twice to find out specifically who influenced their decision to pull the shoe. They have not responded. You have Colin Kaepernick who finds it offensive. You have a lot of people online that are connecting the shoe to not only slavery but White Nationalism as well. However, you have a local politician who is angry at nike for pulling the shoe. This politician is doug doosy, governor of arizona, who says he will revoke financial incentives for nike to open a plant in phoenix worth about 185 million, bringing 500 jobs to the area. He took to twitter to say, i quote, that instead of celebrating American History the week of our nations independence, nike has apparently decided that betsy ross is unworthy and has bowed to the current onslaught of Political Correctness and historical revisionism. Liz guess what . It may have been that, we dont know, but nike has just come out with a statement. Im going to read it. Stay right there. Reporter look at that. Liz ready . It has decided to halt the betsy ross flag shoe based on concerns that it could unintentionally offend and cause detriment to the patriotic holiday. Sorry. You got to stick with me. Detract from the patriotic holiday. Nike is saying quote, it is proud of its american heritage, it supports u. S. Olympic teams. Nike says it remains committed, here it is, kristina, it remains committed to creating jobs in the u. S. And opening new facilities facility, singular, to create 500 new jobs. That must be it, the arizona facility. Reporter yes, because originally, thats whats going to happen. They were going to open a plant worth 185 million and they were going to get all kinds of financial incentives and reimbursements for their jobs. But to bring it full circle, they didnt address the Colin Kaepernick part which is what i was hoping i would get a response for, because we know Colin Kaepernick played in the nfl in 2016, took the kneel during the anthem to raise awareness for racial injustices. Overall, he hasnt been signed but like you mentioned, nike did feature him in an advertisement, much to a lot of opposition. Sales, though, have been doing quite well. If we are going to go full circle, take a look at the nike stock right now. It is down for the day. That could also have a lot to do with the earnings that came out at the end of june. Did disappoint a little on the earnings side because they have also been investing very heavily in online sales, but look at that shoe. I checked that maybe about an hour ago before i was going to come on set. Its amazing how its just skyrocketed in price and its also amazing how these guys got their hands on the shoe even though nike has called all of them and told all retailers not to sell them. Well see how much it sells for. Liz im watching it right here. You know, i dont know what nike means, they say they pulled it but stockx, this website here, has some. Somebody got a pair or two or three, because they are selling now for 2500 on this website. Reporter the reason is because the stores the shoes actually did hit some of the retailers because they were supposed to go out for this week. So that could be somebody within the stores that got it. Liz look at this. Okay. Stockx shows what it was doing just june 30th here. They were selling for 400, july 1st, 393. It actually went down. Then you go to yesterday, well, yeah, later yesterday, suddenly 514, boom, the controversy starts. It goes from 500 to 1,250. Climbs again. Now its at 2,473 for one of these pairs. Wow. Interesting. These sites are very hot and very hyper at the moment on all of this. Thank you very much. Well, as nike collectors overwhelm the web sites for secondary sneakers, we are looking at what could be an overwhelming situation for netflix, with Stranger Things coming out and debuting its season three, you can only imagine what a big deal that is going to be. Thats july 4th. In Stranger Things theyve got the upside down world. Here is the trailer for that. It is already kind of broken the internet. We have to tell you that netflix stock is up 40 year to date. What about this upside down world . When you talk about what some people are saying out there, youve got mark hulbert of market watch who in a sort of upside down world says we are going to see an earnings recession but thats not a bad thing. He says its not bad because the stock market historically tends to do better when earnings are declining versus advancing, and that means stocks get cheap, people who are bargain hunters swoop in and pick up some bargains. All right. To our Stranger Things on the trading floors around the nation. We love our Stranger Things. To you, phil. Do you expect an earnings recession . I know you are usually very optimistic but you are also very much a realist and technical guy. What do you see and how do you profit from that . In a bizarre world i guess i should be rooting for bad earnings so my stocks will go up, right . Thats what theyre telling us. You know what, listen. What stocks you buy in a recession . You normally buy defensive stocks. If its a real recession you buy walmart, cvs, walgreens, all the defensive stocks. In an earnings recession you buy the best of everything because if you are in an environment with low interest rates, you look at a stock like netflix, right. Netflix is going to perform great because if they get bad earnings, everybodys looking ahead and forgiving them because they have such great shows like, you know, this show Stranger Things. Its going to be huge for the ratings and good for the stock. This is the time. If we do get bad earnings, latch on to the stocks you thought you couldnt afford because every dip will be a good buy. Liz thats right. Every dip, you want to buy low, right, john . Absolutely. Markets are forward looking. I agree with you. What you read is 100 true. Market is always looking at tomorrows earnings, not necessarily todays earnings which might not be up to par. Look at uber. 75 billion company and they certainly didnt get there with earnings. They actually lost 1 billion. Its really about they are doing something better, faster, cheaper which is what america is all about. This is where we reward them on the floor of the new york stock exchange. Liz thats where you get to really see whats going on. Uber is down about half a percent at 44. 55. Very close now to its high since it went public of 47 per share. Chris robinson, do you see an earnings recession and do you agree with mark hulbert that this is not something to fear . At the end of the day, i just watch the markets. The markets are telling you were at record highs. If you are worried about that, there is always a bull and a bear story. There is always somebody with an opinion. If you are worried that we are about to tip over, break 1,000, 2,000 points, nows the time to do something to protect yourself. I really like the tenyear. If the fed continues to cut, you know, the tenyear is probably the place to be. If you want to have safety. Liz yeah. I think so. I want safety in the upside down world. John, phil, chris, thank you so much. Might not be safe. Im not sure. Liz trust me, upside down and that world is not safe. Thats what dustin told me. Well be right back. Dont go away. Dow jones barely down, just six points. Stay with us. We have a record right now for the s p. My insurance rates are probably gonna double. But dad, youve got allstate. With accident forgiveness they guarantee your rates wont go up just because of an accident. Smart kid. Indeed. Are you in good hands . Its something we take personally, and believe in passionately. Its the idea that if our mothers were diagnosed with cancer, how would we want them to be treated . Thats exactly how we care for you. With answers and actions. To hear your concerns, quiet your fears, lift your spirits. With teams of cancer experts and specialists, delivering advanced Treatment Options and compassionate support every step of the way. All here in one place, with one purpose. To fight your cancer, together. Thats the mother standard of care. This is how we inspire hope. This is how we heal. Cancer Treatment Centers of america. Appointments available now. Liz we have this right now. Israel says it is preparing for war, not with it and another country, but between the United States and iran. Foreign minister of israel says its Defense Forces are now on heightened alert as rhetoric between the u. S. And iran ramps up. While speaking at an International Security forum, katz said quote, we must be prepared for this and thus, the state of israel continues to devote itself to building up its military might for the event that it will have to respond to escalation scenarios. But its not actually just rhetoric heating up. American f22 raptors which departed june 27th have now reportedly reached the region and are in place. The jets supposedly about 12 of them, although that hasnt been confirmed, were deployed after an unmanned u. S. Drone was shot down by the iraqi military. That act of aggression occurred as the Trump Administration continues to sanction any country that purchases iranian oil, but the buying and purchasing is still happening. New york times report out today says china has found a workaround. New article with the headline to evade sanctions on iran, ships vanish in plain sight. It goes into detail how empty chineseowned tanker ships sort of conveniently have disappeared off the grid as they approach the persian gulf only to reappear days later heading back to china fully supplied with you can imagine, what. To the white house, where we find edward lawrence. President trump is threatening sanctions against countries that buy iranian oil but the chinese appear to have found this back door. What is the administrations plan here . Reporter yeah, and im sure that the Administration Knows exactly where these tankers are going from space, looking at this. Now, the white house is trying to increase pressure all around and they are going to try and get countries to follow along with the stananctions on this. The chinese are actually coming out todayen ablaming the u. S. For increasing pressure and calling on other nations to use restraint when talking about the nuclear deal. The white house says the sanctions are working and this latest action is out of desperation. An International Nuclear agency says that iran has violated the agreement they had with other countries in that iran deal with the amount of enriched uranium they have. Government officials in iran are saying that yes, they will in fact go after or pass more of the terms and break more of that agreement unless those European Countries can give them financial incentives or help iran do Financial Transactions in order to get money into this country. The latest act of defiance from the white house, according to them, that this means the sanctions are working. Hopefully so. Listen, that deal was a joke. The president knew it was bad. Thats why he got out of it. It was based on a lie. The whole premise was that t