Transcripts For FBC After The Bell 20240713 : vimarsana.com

FBC After The Bell July 13, 2024

This story is developing quickly. Well bring you new headlines from the president when we get them. Plus a Hollywood Star is now officially serving time. New details as Felicity Huffman reports to prison. The delivery wars heating up. Walmart is moving to the next frontier. How you can get your groceries sent straight to your refrigerator. Melissa i like the sound of that. Fox Business Team coverage. Blake burman at the white house. Gerri willis on floor of new york stock exchange. Gerri, first to you. Reporter thats right. What a day in the markets. The dow up 237 full percentage points. The dow back over 27,000, 27,024. Good news for major averages. S p 500 is up and nasdaq too. What is going on here . All about earnings, whether you were looking at jpmorgan chase, johnson johnson, unitedhealthcare, wells fargo, all of these companies doing very well indeed. Johnson johnson in particular having a good day. So, as we look at these companies what were hearing is that maybe this economy is firing on all cylinders, with the good news on the earnings front. Of course well have more later this afternoon. Wework news today was not good. Wework bonds in fact lowered. Were watching that stock as well. Back to you. Melissa thanks, gerri. Connell bring it to todays market panel. Todd horowitz joins us the bubba trading show host, jordan kimmel. Jordan you first. Gerri said obviously china is still there well talk about that in a moment. Maybe there is optimism about brexit in the market. As gerri said, it really was, all about earnings, some strong numbers. What did you take away from today . Here is the interesting part, not only today, people on recession watch, when is the next recession start in when do i need to get out, when is the market going to crash . The Reality Market is broading out. What i mean is, the advancedecline line is basically at a new high. The ratio of new lows to new highs is very encouraging. This is very healthy market. Colin, you know that i never promote the whole stock market. Im very selective. So you have to look at companies with not only good earnings, connell, good revenues, margins, good cash flow. Good management and companies that act with a lot of integrity. Its a great looking market to me. Connell todd, youve been more how do we say, cautious, maybe . You know, i wonder on a day like this, if you say to yourself maybe economy is slowing down. Maybe concerns we talk about all the time are out there with american companies. To jordans point, to some extent. American companies can make money in the environment, what do you say to somebody who has been cautious . Im cautious. Im always invested. I think investors should stay in the market. However when you set the bar low for earnings you step over it. That is easy, brings excitement that. Bringing into consideration. There is nowhere else to go to invest your money. One place to put money is the United States stock market. Stock market will go up until it doesnt. Im still cautious. I think were if very early stage of recession. I think there is a lot of problems out there. However it doesnt stop me from investing. Investors should stay in the market t will always go up as it has for 150 years. 8 1 2 yearoveryear. Melissa direct to your fridge. Walmart is direct to Refrigerator Service in one million customers in three cities. Todd what do you think about this one . They will walk in put your groceries away . I needed it when i was bachelor. Its a great idea. I dont know how many people want people to come into their house. That is potential issue. The concept is great. Two working parents. Dont have time to go to the grocery store. It works well. Obviously a lot of studying on people doing delivery. All other things. Melissa jordan, im worried they dont take their shoes off, but i also think this is an attempt to get attention for this service. Walmart is late to get into the delivery game, amazon, whole foods. You have a food kick, fresh direct. All kinds of people doing this now. Its a tough competitive business but a way to get people more entrenched in walmart. Whether or not it is serious coming into the fridge, im sure you can opt against that. They need a way to stand out. What do you think . That is a good point youre making. Getting a lot of publicity. Talking about walmart delivery. When i heard about it in the morning i was blown away. I thought it was kind of odd. My guy is the vcr is still blinking 12. I say there is no way. I like to go shopping. To be in stores, pick my own stuff. It got a lot of attention. Obviously a small driver for them. I will pick my own fruit and my own vegetables. I like to go shopping. I dont mine that. Melissa interesting. Thanks, guys. Connell the General Motors strike, we have news on that today. Mary barra is sitting down with Union Leaders today, ahead after meeting thursday that will take place in detroit. Sources told our own grady trimble, the uaw has negotiated a pathway to fulltime employment for temporary workers. Two sides are still working out the details from what we understand. This issue has been a key Sticking Point during the talks. Melissa happening right now, President Trump meeting with secretary of defense mark esper at the white house. The president just announcing that Vice President pence along with secretary pompeo will be heading to turkey tomorrow. Blake burman is here with the details. Blake . Reporter fairly sizable delegation, Vice President , secretary of state, his National Security advisor will be leaving for turkey tomorrow. The Vice President s schedule shows that he will be sitting down with the turkish president erdogan the following day on thursday. President trump, who of course pulled out u. S. Troops from Northern Syria and received bipartisan pushback for that decision, continues to threaten further sanctions against turkey and says this is what needs to happen. Be very tough on turkey and a lot of others, they have to maintain their own properties now. They have to maintain peace and safety. And, well see what happens. The delegation were asking for a ceasefire. We put the strongest sanctions as you can imagine. We have a lot in store if they dont have an impact. Reporter the president making those comments in the rose garden a little while ago as he was there to honor the st. Louis blues who won the stanley cup playoff this past season of the president , steering a bit off script, even talking about china at one point. Made a little bit of a joke as well and said he thinks that the stock market today is reacting to the trade deal. Listen. Stock market is way up today because of probably the trade deal that we made with china. We made a fantastic deal. You guys would have been very proud of it. Your agents. [laughter]. Well be selling to china about 50 billion worth of farm, agricultural products. That is amazing. Reporter a spokesperson for Chinas Foreign Ministry today described the trade deal as something of quote, quote, unquote great significance. But as you know, ellis is a and connell, this is just phase one of the deal and most likely three, four, maybe five weeks away from potentially being signed. Back to you. Melissa this story will never be over. Blake, thank you. Connell defending his business dealings, hunter biden fighting back against the critics demanding china never paid him the 1 1 2 billion dollars talked about to cut a deal with his father during the time he was the Vice President. The fallout from this interview colling your way next. Melissa plus 2020 takes the stage. Democratic candidates preparing to duke it out in the fourth debate tonight. This time in the buckeye state. Were on the ground in ohio with what to expect. Former governor Mike Huckabee weighs in this hour. Connell harleys rocky road. The Motorcycle Company facing an uphill climb in the production of its new electric bikes. Critics fear its push for younger customers could lose some of its dedicated base. Thats coming up. 48 bales. All before lunch, which we caught last saturday. We earn our scars. We wear our work ethic. We work until the works done. And when it is, a few hours of shuteye to rest up for tomorrow, the day well finally get something done. the day well finally get something done. Most people think of verizon as a reliable phone company. woman but to businesses, were a reliable partner. Were engineers. Cloud architects. Developers. woman data scientists. We Keep Companies ready for whats next. 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Call, click, or visit a store today. Melissa speaking out for the first time, hunter biden the son of former Vice President joe biden defending his work for a Ukrainian Gas Company while pushing back against accusations he was unqualified for the job. Take a listen. Vicechair of the board of amtrak for five years. I was chairman of the board of the u. N. World food programme. I was a lawyer for boyce, one of the most priest ten us law firms in the world. You didnt have any Extensive Knowledge about natural gas or ukraine itself though . No. But i think that i had as much knowledge as anybody else on the board if not more. Melissa oh, boy. Here to react is James Freeman from the wall street journal he is also a fox news contributor. Hey, melissa. Melissa the claims he was onboard after government company. The other was a nonprofit. He will be paid roughly three times the amount a normal board member would get anywhere else to go to ukraine and do this. I dont know, did his defense make sense to you . I think you saw right there this is indefensible. That is why he quit these boards because, to say that, because i was on the, got this u. N. Gig and amtrak gig, also i assume had something to do with his last name being biden, nobody is looking at amtrak as model of corporate governance. Melissa right. Something that would be sought. The comment how no one else on the board new anything either, the idea this oligarch didnt want a lot heavy board oversight is kind of consistent with everything you would think about this deal looking at it. Melissa yeah. No, absolutely. Take a listen to this one. This is also from the interview he did this morning disputing claim he earned 1. 5 billion from chinese investors. Feels to me like living in some kind of a alice in wonderland where youre up on the real world and then you fall down the rabbit hole, you know the president is the cheshire cat asking you questions about crazy things that dont have any resemblance to the reality of anything that has to do with me. And so, here is the answer. No one ever paid me 1. 5 billion. And if they had, i would not be doing this interview right now. Melissa well he also said that he hasnt made any money off that investment. That was the real point. And, he of course, in private equity you invest and then you dont make any money until they actually exit. So that would be consistent with everything we know about private equity. That was the claim he made, that he hasnt made any money off that. The 1. 5 billion, that goes to larger company. He owns 10 of that. I would like 10 of 1. 5 billion. How about you . I think that is what, that was the amount they originally set out to raise. By some accounts they have invested 2 1 2 billion. Melissa wow. More than that. So a question, some people would want to know were there Management Fees along the way . He is saying no. Melissa right. He is also wrapping this up on october 31st, he says. I get a lot of letters from readers saying, how much is he getting for that 10 stake . Is he just leaving that on the table . Now i think that is a stake in the management company. So it is not necessarily 10 of 1. 5 billion or 2. 5 billion but again, i think youre seeing why this ultimately was not something he could defend in thn sunlight and to date he is not told us the expected payout will be from the chinese fund. Melissa taking a broader look, because i wanted to debunk the actually things he is saying, amy robach is lovely interviewing him, she doesnt know about finance like somebody at wall street journal would follow up with those questions but the larger point, so this is the son of a politician. Nobody gets penalized for what their larger family does or else no one would be ever elected president of the United States because we all have relatives that have done crazy things but he is running as Donald Trumps moral superior. He comes out at beginning of the campaign is, lets return to you know, to a moral world where the president is a decent human being and were going to restore credibility to america. Were it not for his theme would this matter or do you think it does not matter . I think it matters a lot, youre right it may be particularly damaging biden if he is trying to present return to some better mythical past in american governance. But it would be a problem for anyone. It was why it was problem for hillary clinton. At tonights debate democrats have to find a way, im sure they will do it while criticizing donald trump, you have to find a way to say this is not going to be the model of the next democratic administration. People get overseas deals bearing, with no relation to their qualifications based on their parents, their relatives, having a prominent american policy role in that country. It really, it never flies. It is why nobody wanted to buy into the Clinton Foundation model. That had a lot to do why she lost in 2016. Is funny to watch the evolution. It used to be lobbying but everybody figured it out. Clintons did the foundation thing which was not illegal at time. That was genius way to siphon money off. This is the private equity board model. That well see what comes next. James freeman, thank you. Thanks, melissa. Apple set to release a 399 iphone next year. Melissa oh. Connell this from a securities analyst who put that out. Google has the new pixel 4 smartphone that has been announced that undercuts iphone 11 pro on price. This is larger of its models. They priced this one starting at 899. Iphone 11 pro starts at 999. Apples iphone 11 starts at 699. Can you say apples to apples . That would be the right comparison. Melissa you were waiting for that through the whole entire script. You were waiting to say apples to apples. Connell unfortunately i just thought of it at the end. That is even worse. Melissa inserting himself into the debate. Basketball star lebron james breaking silence on situation in hong kong. The controversy that the nba found itself courting in china. Did the big man fall short. You saw the courting there, right . Connell not bad. Melissa new fallout from pg es california blackout but is there someone else to blame . That and more later this hour. Ry drones, or the latest phones. No commission. No matter what you trade, at fidelity youll pay no commission for online u. S. Equity trades. At fidelity youll pay no commission Liberty Mutual customizes your Car Insurance, so you only pay for what you need. I wish i could shake your hand. Granted. Only pay for what you need. Liberty. Liberty. Liberty. Liberty. 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