Transcripts For FBC Cavuto Coast To Coast 20240714 : vimarsa

Transcripts For FBC Cavuto Coast To Coast 20240714

Now boeing is the most expensive stock in the dow, when it cascades, close to 10 bucks a share, disproportionately has a weight on the dow. Accounting for half the loss were seeing in the dow about 135 points. Roughly half of that is just boeing. Meanwhile the Justice Department is ramping up a probe into big tech. Here is what is amazing, the nasdaq is in record territory, it is doing that without the likes of amazon, apple or google. You dont see that very often. Were awaiting a new statement from the the new Prime Minister of britain, Boris Johnson, indicating he will go full speed ahead with the plans to break away from the European Union by hook or crook within the next 60 days. Well see what happens on that front. Deal or no deal he wants out. First to the bob mueller hearing, how lawmakers are looking at a situation is not living up to how it was billed. Hillary vaughn with the latest. Hey, hillary. Reporter neil, the house Judiciary Committee, lawmakers sitting on the Committee Heard a lot of this today from Robert Mueller. Im not going to speak to that. Im not going to speak to that. Not going to get into that. Im not going to answer that question, sir. Reporter democrats trying to dig up new information but special Counsel Robert Mueller has been sticking to the script, his report as planned. Part of the democrat strategy has been to walk mueller through his report, detail ways they think the president threatened or tried to obstruct justice and obstruct the investigation. Muellers investigations, but miller did not play ball. Congressman ted lieu asked mueller based on evidence they detailed today, if a reasonable person would conclude that the president did indeed obstruct justice. Mueller replied saying he does not want to go through line by line and try to cook up a case that he did not determine in his special counsel report saying he does not subscribe to what the democrats are trying to prove through this hearing, obstruction of justice. Congressman ratcliff said he used burden of proof, claiming the report does not exonerate the president even though they did not have sufficient evidence to prove that the president colluded with the russian government. He says mueller is robbing the president one key right, innocence until proven guilty. Nowhere in here does it say, write a report about decisions that werent reached. You wrote 180 pages, 180 pages about decisions that were not reached, about potential crimes that were not charged or decided donald trump is not above the law. He is not but he damn sure shouldnt be below the law. Mueller was stumped by the Top Republican on house Judiciary Committee, doug collins whether or not collusion and conspiracy are synonymous after mueller opened his remarks today saying the word collusion was not a legal term. In the colloquial public context, collusion and conspiracy are essentially synonymous terms, correct . No. You chose your words carefully. Are you contradicting your report right now . Not when i read it. So you would change your answer to yes, then . Reporter republicans also asked mueller a lot about the steele dossier and fusion gps and continued to question why it was not a larger part of the investigation and included in the report but mueller says that other people are looking into that and he pretty much refused to give no Additional Information on that. Neil. Neil hillary, thank you very much. The action will change in a little more than an hour or so to the House Intelligence Committee asking the questions here. You might have a little more savvy legal questioning. The jury is still out whether it will move the needle. If you dislike the president , you will continue disliking him. If you like him, you will continue liking him. The smoking guns we thought would appear from the hearing not evidenced themselves. He seems to be just sort of one step behind some of the questioners. It is just not a good day for bob mueller. That is just a quick read of things. A lot of people look on the corner of wall and broad, see the selloff going on, attaching significance what is happening at these hearings. I want to add boeing is here accounting for a lot of this. Boeing indicating it might have to halt 737 max production indefinitely, if not permanently. That and we have caterpillar down on trade fears. We have trade worries in general, given more bellicose talk out of china. The doj rounding the wagons on big tech. That is really accounting for selloff what were seeing here. You take boeing out of the picture, we would be nominally impacted. These hearings are not having impact some thought they might. Wall street Journal Editorial Board member james freeman. James, what do you think of that . That has been the story of the trump presidency. A lot of noise in washington. A lot of claims that our democracy is in deep danger, markets providing a bit of reality check this is 100 driven by particular company news and general trade news. This is another market nonevent out of washington. Neil you know what im curious about, you follow the ins and outs from the whole mueller saga from the beginning far better than i, he seems just clueless. I dont mean to disparage him, Great Respect but im beginning to wonder did this guy have as much of a handson role might have been the assumption . Maybe he delegated a lot to his staff a lot that he didnt know. He kept boeing back to the report, read the report. I get that. But in so doing he left me wondering, how much of this do you know . How much did you trust your people to write for you . I think everyone is wondering that. I think theyre also wondering how this happened, this committee hearing. This certainly cannot be what the democrats were hoping for, whether they were hoping he would step beyond what was in the report or whether they were thinking that perhaps dramatic reading of certain passages would underline for americans the points that they thought were important. Theyre not getting it. And i would think there is going to be a lot of discussion among democrats who remember, Judiciary Committee chairman jerry nadler persuaded his colleagues to make him the top democrat on that committee in late 2017. He said im the impeachment expert. I know how to do this. I know the process for how you make the case. This is an enormous setback in that effort. Neil obviously the president is seizing on this to say, this guy is a disaster, democrats are looking desperate. They were hot to trot to make sure mueller would testify. Mueller, you and i recall was not keen on the idea. There is the report, do with it as you will. They are obviously going to regret that. Im wondering what happens to this movement to go beyond this, to set the stage for impeachment hearings . I would imagine that gets stymied now . I dont know how they can go anywhere from here. You already saw pretty clearly, wall street journal, nbc poll, you saw the real erosion over the last month neil amazes you guys still do that with nbc. That is another conversation. Go ahead . The real decline down to 21 of americans who want impeachment hearings to begin. This is the hardcore of, i would say the hard left antitrump segment of society. You saw that with john delaney, the democratic congressman, former democratic congressman, running for president , saying in the last round of debates, no one is asking me about this he talked to me how people in iowa and other places are concerned with Kitchen Table issues. Now that this hearing, i would say worse than a dud because i think, i think the republicans drew some blood showing how mr. Mueller had bias on his team, how some of the decisions made neil he didnt know about the bias or didnt know that was so rampant. That is the question. Neil i think he is answering honestly. Youre wondering which is worse, did you assemble a team of partisan political actors on purpose and why . And if you really had no idea that you were hiring a bunch of obamaclinton donors to do this, is that, again i dont know if that is better or worse is i hear you. This is not just, not just what they had hoped. I think its a setback. Neil thank you my friend, as always. Well talk about doing stuff with nbc at another visit. Im kidding. He is the best. Do more. Neil there you go. One of the things that is interesting, well look at the dow. Well go to this in a second with Deirdre Bolton here. But there is a view here if things are fine for the market, and theyre making money hand over fist which lately they have been, nasdaq is now in record territory, they like that, you dont want to disrupt that. This is not a political statement. It applies to when the republicans were going after bill clinton, trying to impeach him. The markets rebelled at that. Didnt like the prospect of that happening. What was the wind then at president clintons back was the good economy, the strong markets. No one wanted that disrupted. When i talk about wall street not being red or blue, i mean that. These guy are greedy and green. They love making money. With this president they are making a lot of money. They dont want anything to get in the way of that. Nothing to james point in this hearing indicate that will be disruptive. Now they like that. Today it might seem like a quirk here were down to the degree we are. Has nothing again to do with these hearings going on and one soon to come with the House Intelligence Committee. There are other forces at play, factors at play. Deirdre bolton with more on some of them. Hey, deirdre. Reporter im watching three stocks that you mentioned responsible for the dows decline. You called them at the top of your showing. Boeing, caterpillar, unh. Boeing is on the headline as youve been talking about with your guests. The idea boeing may have to suspend the 737 max model, maybe indefinitely is the implication there if the planes cannot return as planned during the fourth quarter. Boeing, said, well, were not really sure that pushed that stock down about another half a percentage point. It was already down. It opened lower after that huge earnings miss, no other way to say it. Both on top line and bottom line. That is the trading pattern with caterpillar as well. Huge miss on earnings. A less huge miss on revenue. But a miss all the same. Those stocks weighing heavily on the composite. Then unh. If you look at entire sector, all insurers are moving lower. We heard from unhs competitor, anthem health, oddly enough anthem talked about exceeding expectations on the top and bottom line, reiterating earnings, essentially a blowout quarter plus good guidance. Normally you would see green on the screens on that. The company is saying rest of the sector should feel pressure. Talking about rising costs, rising costs they saw in the second quarter. I will quote from the press release. Elevated medical costs in medicaid more than a few states this is letting investors know going forward, it will be more difficult in this current environment for these companies to make money. The whole sector is trading lower. I would be remiss if i didnt talk about big tech. Were highlighting nasdaq, very next to near alltime highs. It is funny this is happening one day after the u. S. Doj took a really i wont say unprecedented step but unusual step of bringing an antitrust investigation, the company didnt or the doj didnt names. But said market leaders. We have to assume it is apple, amazon, facebook, its google. All the stocks are moving lower. That is not bucking the overall sentiment. Facebook of course as we know, neil, basically paying 5 billion, a huge slap on the wrist for the Cambridge Analytica scandal and doj says we have the right to monitor business. Neil thank you very much, Deirdre Bolton here. Bob mueller wrapped up his testimony before the house Judiciary Committee. Next he moves to the House Intelligence Committee. It is simply not been a great day up for him. Were also separately learning that democrats on that committee did not have a chance for extended conversations with mr. Mueller. Keep in mind, he was opposed to doing this in the first place. He said he would stick with the script and stick with the report. He is true to that but in so doing he caught a lot of his democratic backers offguard. They simply had no idea he would be this bad. More after this. Carvana is six years old this year and is the Fastest Growing place to buy a car in the nation. Its because we have thousands of people working hard to make our customers experiences the best. Its because we have tens of thousands of cars ready to be delivered to your doorstep. And its why hundreds of thousands of happy customers have ditched the dealership and bought their car online, earning us an average 4. 7 stars in the process. So if you didnt know about us before, you do now. Were carvana, and we want to give you the car buying experience you deserve. At comcast, we didnt build the nations largest gigspeed network just to make businesses run faster. We built it to help them go beyond. Because beyond risk. Welcome to the neighborhood, guys. There is reward. Beyond work and life. Who else could he be . There is the moment. Beyond technology. There is human ingenuity. Every day, comcast business is helping businesses go beyond the expected, to do the extraordinary. Take your business beyond. Has been excellent. They really appreciate the military family and it really shows. With all that usaa offers why go with anybody else . We know their rates are good, we know that theyre always going to take care of us. It was an instant savings and i should have changed a long time ago. It was funny because when we would call another Insurance Company, hey would say oh we cant beat usaa were the webber family. Were the tenneys were the hayles, and were usaa members for life. Get your usaa Auto Insurance quote today. Neil the ftc announcing a five billion Dollar Settlement with facebook over privacy concerns. One of the catalysts they hope to see proven here, the company will prove it, certify on that, prove that they are doing what they have been punished for to correct and fast. Fox businesss Jackie Deangelis with the details. Reporter neil, great to see you. Thats right, five billion dollars, that is the ftc fine, the settlement it has come to with facebook. It is the largest civil penalty paid to the ftc. Related to a 2012 order. Ftt says facebook violated that order, continuing to share user data. What is key here, its a settlement, not an admission of guilt. It will have to set up a independent Privacy Committee to oversee privacy. Mark zuckerberg will have to certify himself that privacy requirements are being met on an orderly and annual basis. If he is not forthright he will be subject to criminal penalties as well. And whatsapp, because they are facebook owned and any new products facebook may offer. Some of the new restrictions include these, the company is banned using phone numbers to enable security. There has to be better oversight over third party apps. It has to be noticed that facial recognition if used, cannot use email passwords for other services it is incorporating into the facebook platform. The chairwoman of the ftc told fox business, the order creates a robust system of checks and balances and spreads accountability and for consumer privacy. Facebook responded saying in part with a statement, the agreement will require a fundamental shift the way we approach our work. It will place additional responsibility on people building our products at every level of the company, end quote. Neil, i think the statement rightly says it there, fundamental shift for facebook. Neil they have to prove it. This is one of those deals where we want to see tangible evidence youre doing what you say you will do. That gets into the legal sticky wicket there. Well watch it closely. Thank you, jackie. Reporter sure. Neil justice is opening up a antitrust probe against big tech. At the same time, big names whether theyre getting too big for their britches. A former quinnepiac law professor where this is going. We mentioned earlier, john, it is interesting, if the markets are shuddering on this, they have a funny way of showing it. Amazon, apple, certainly google. The ones would likely be the target of government wrath, they are down, not a lot, theyre down. But you know nasdaq 100, Technology Index and nasdaq rich the Technology Names that is flirting in and out of record territory. It is not having the effect a lot of people thought, but what do you make of that . Not yet, but i mean, you and i forgot weve been talking about this for a while. Were finally here. I have to believe the folks who cover these companies, whether theyre analysts or investors, we knew this day was coming. I think what was interesting about the announcement from the Justice Department, neil, is that, this investigation is, i mean it is pretty broad. This goes back to bill barrs comments he made during his confirmation hearings where, you know, he said straight out. He thought it was high time that the Justice Department took a look into the entire Tech Industry and, with the lens of, have some of these companies gotten too big . And whether or not theyre engaging in intentional anticompetitive activities which are two different things. They all relate to the same thing. I want to say one thing, neil. This is a major event. I know we had the mueller hearing today but when you took a look at events that happened, that really shaped the course of our economy, of major industries, i believe that this investigation is going to have the same level of importance as when you go back to the Standard Oil Case and standard oil got broken up. It wasnt just about standard oil. It impacted how the whole Petroleum Industry matriculated, grew, who got into refining, who got into retaili

© 2025 Vimarsana