Transcripts For FBC The Claman Countdown 20240712 : vimarsan

FBC The Claman Countdown July 12, 2024

We are monitoring his comments right now for any news that breaks. We are on this event for you. Meanwhile, got to look at the markets. Kicking off the first trading day of september with new records for the s p 500 and the nasdaq, and the dow is back in positive territory for the year. We shall see if these numbers hold through the rest of the hour. You know, septembers traditionally the worst month of the year for the stock market. But we are going to ask our floor show traders if they expect september 2020 to follow the usual pattern, because nothing about 2020 has been usual, to be clear. And we will get a view from the farm as harvest season is fast approaching. We will talk to one soybean and corn farmer about how he sees the phase one trade deal playing out in the middle of the coronavirus pandemic. Plus, the state of spacs. A giant in the Media Industry is turning to the world of 3d printing to tell us why he is now taking desktop metal public. Less than an hour to the closing bell. Lets start the claman countdown. Cheryl lets go back to President Trumps meeting with Law Enforcement officials in kenosha, wisconsin. Lets listen in. We must really be thankful that we have them and we have to help them do their jobs. We cant be threatening them with their pensions are going to be taken away, their jobs are going to be taken away, everything is going to be taken away, theyre going to be living a bad life if they utter an incorrect word. You cant do it. We have to have our Law Enforcement. We cherish our Law Enforcement. We wouldnt be here without our Law Enforcement. Even me, im here today, i feel so safe and you went through hell just a few days ago, but i feel so safe. I better be safe, right . I better be safe. But we are all safe and we are safe because of Law Enforcement. We honor you and i will say this, we have to condemn the dangerous antipolice rhetoric. Its getting more and more, its very unfair. You have some bad apples, we all know that, and those will be taken care of through the system, and nobodys going to be easy on them, either. You have people who joke, theyre under tremendous i said it yesterday, i said it last night, theyre under tremendous pressure and they may be there for 15 years and have a spotless record and all of a sudden, they are faced with a decision. They have a quarter of a second. Quarter of a second to make a decision. If they make the wrong decision, one way or the other, they are either dead or they are in big trouble. And people have to understand that. They choke sometimes. And its a very tough situation, right . Its a very tough people call them bad and horrible and they made a bad decision but if you think of it, when they have and i know you practice this all the time, where you give people literally a quarter of a second to make a decision, and a lot of them cant make that right decision. Its a very tough thing to do. The vast and overwhelming majority of Police Officers are honorable, courageous and devoted public servants. They are incredible. Yet many politicians ignore their sacrifice and ignore the africanamerican, hispanic american victims. We have people, there was love in the streets, i can tell you, of wisconsin when we were coming in. There was love in the streets. And so many africanamericans, hispanic americans, i can see waving, pastor, it was so beautiful to see. They want to have safety. They want to have safety. Im not a huge believer in polls, obviously, but you look at polls where theres 87 want to have great police. They want to have strong police. They want to have safety. Those are the ones that are most affected by tragedies like youll see going around, or these allegations of police wrongdoing and when you see that they have made allegations, they must be fully and fairly investigated and thats what were doing. Bill barr has done a fantastic job in that respect. We fully understand that because you do, you do have problems the other way but there are very few. You know, the sad thing is you can do 10,000 great jobs as a policeman or policewoman. You can do an incredible job for years and then you have one bad apple or something happens thats bad. Thats the nightly news for three weeks. Thats all they talk about. They dont talk about the thousands and thousands of good jobs, the lives that you save, they never talk about. So im committed to helping kenosha rebuild. We all are. We will provide 1 million to the kenosha Law Enforcement so that you have some extra money to go out and do what you have to do. You took a rough it was a rough week, to put it mildly, and youve done it incredibly well. Im also providing nearly 4 million to support the Small Businesses that i talked about today that got burned up, burned down, and were going to be providing over 42 million to support Public Safety statewide including direct support for Law Enforcement and funding for additional prosecutors to punish criminals and resources to provide services to victims of crime. That was bill barr who wanted that money put in. So thats 42 million that will help with prosecutors and all of the other things that are so important to you. You need that. When you grab them and nothing happens and theyre back on the street, that doesnt work out too well. My administration is restoring Public Safety. Were hiring more police, surging tough on crime federal prosecutors, increasing penalties for assaulting Law Enforcement and for dismantling antifa. They dont want to mention the word antifa. Nobody mentions it. Theres a bad group of people, very very bad, very dangerous group of people, and we are doing a big number on antifa. Theyre bad. Earlier this year we announced operation legend to surge federal Law Enforcement to high crime neighborhoods. It is a thing that has really worked out amazingly well, bill, but its really sort of understated in a sense. We have already conducted more than 1,000 arrests in our first month in chicago. We went to chicago very recently. Obviously thats been a disaster, chicago. Total disaster. With again, radical left democrat and we just have its all democrat. Everythings democrat. All of these problems are democrat cities. We dont want to say it but it is. The top ten are democrat. Then you go into the top 25 and take a look at that. Its the same thing. We cut the number of murders in chicago last month in half. Still way too many but operation legend was very very very successful. Now its just really getting going but they cut it in half and at its very early stage. Its in sharp contrast to those who want to slash Police Funding, oppose using the National Guard and want to hire radical judges and prosecutors who will release rioters, looters and criminals. We have that in portland, where the prosecutors dont want to do anything. You can catch somebody doing the worst crime and they dont want to do anything. So were very very upset about that so were not going to be cut Police Funding. If you look at what they want to do, they want to cut Police Funding, we want to increase Police Funding substantially. They want to end cash bail which has been a killer for new york. If you look at whats happening in new york, they allow thousands of people out of jail in new york and they are Walking Around and they are causing nothing but problems. Who would not know that. You dont have to know anything about policing. Im not a policeman but i would know that if you let these people out, many of them are going to cause tremendous problems. So they want to end cash bail. Incentivize prison closures, they want to close the prisons so they cant hold anybody. Reimagine Public Safety, end immigration enforcement, resume catch and release at the border, as chad will tell you, we have had tremendous success on the border. We are up to over 300 miles of border wall. Were having the best year weve ever had in the border. People are coming in but they only come in legally. For the most part they only come in legally. The wall will be finished very shortly. Its had a tremendous impact. And the other thing, we want to appoint Supreme Court justices and judges, we will be up to almost 300 judges by the end of the term and two Supreme Court justices, and so we have a lot of things to do. We have a lot of great things to do. But its an honor to be in your neighborhood, its an honor to be in your great state, wisconsin, and were here for you all the way. Some people thought it would be a good thing for me to come, a bad thing. I just wanted to come. I really came today to thank Law Enforcement and to just really, what youve done has been incredible. Its been really inspiring, because you see it happening all over and it just never seems to end. It never seems to end because its almost as though they dont want it to end. Because you ended it really fast and congressman, i want to thank you for the job you did. You were the first call and i want to thank you very much. Great, really great job. With that, i would like to introduce bill barr, attorney general of the United States. Say a few words. Thank you. Thank you, mr. President. As most of you know, whenever there is an officerinvolved shooting cheryl we have been listening to President Trump. He has been holding this roundtable with Law Enforcement in kenosha, wisconsin. He did make some news in his remarks in the last few moments. They are going to be giving 1 million to the Kenosha Police department to support them. Also, he said they are going to be giving 4 million to Small Business in kenosha to help them with obviously the rebuilding effort as they have struggled to reopen their businesses in the middle of all these protests and rioting. And 42 million he said is going to be given for Public Safety statewide for services, for victims and also to help prosecutors take some of these criminals and bring them to justice. He also mentioned the situation that we have been following on fox business in chicago, in portland. He also made a brief reference to new york and bail reform which is something Governor Andrew Cuomo has pushed through in this state and that of course is where a lot of folks believe that that is closing prisons that led to higher crime rates in particular in the new york city area. I do want to bring in Grady Trimble. He is outside live in kenosha, wisconsin, where youve got folks on both sides, youve got Trump Supporters and youve also got detractors there. Whats the situation like right there right now . Reporter well, right now, what we are seeing is a lot of black lives matter protesters. Earlier in the afternoon, we had a lot of President Trumps supporters here, hoping to get a glimpse of the president as his motorcade went by, but now they know hes doing that press briefing, so they have kind of dispersed here. Whats left is the protesters, and things got heated at times. There was shouting, there was arguing. I would describe it as tense but mostly peaceful, except we did capture one moment where one of the protesters threw water at a supporter of the president. Take a look. [ shouting ] reporter of course, the president was here touring damage. He met with local Business Owners who in some cases lost everything to the fires of the riots of last week. He also, as you can see, is holding that Law Enforcement roundtable right now and cheryl, you mentioned one of the things he talked about which is how some people want to defund the police. He says he wants to increase funding for police. He also thanked all of the Law Enforcement from here in wisconsin and other areas who came in and really, as he said, got the situation under control after the rioting of the past week. In addition to that, hes encouraging cities like portland to take the help from Law Enforcement if they need to get things under control. Meanwhile, as we see the protesters here, the family of jacob blake is not here and they said they are doing that on purpose. They say they dont want to have anything to do with the politics of the president s visit. They had a press conference and they gathered at the shooting site of jacob blake, the start of all of this unrest, and you know, they said they dont want anything to do with whats going on here and they actually encouraged people not to protest but nonetheless, thats what were seeing right here. Cheryl well, Governor Tony Evers had asked the president to reconsider his trip. He did not but hes still going to get 42 million statewide for those who are dealing with this. Thank you for that live report. We appreciate it. We want to get back to the markets because you have the s p 500 and the nasdaq sitting at records. The dow is positive and the dow looks like we may be back in positive territory for the year, for 2020, for the dow. We are going to be talking about all of this with our floor show guys. Well be right back. Stay with us. i need it so bad dont call it a hobby. Its way more than just a job. This is how we live every single day. Can we go and play . roaring of engines i needed to try needed to fall i needed your love im burning away i need never get old im burning away riaccelerate your investments to be is or pull back . Een. Change the plan or stay the course . Thats why Northern Trust is here. With specialized expertise. A history of success through every economic climate. And proven strategies rooted in data and analytics. Giving you more control. Clarity. And confidence. For now and whatevers next Northern Trust wealth management. Im a delivery Operations Manager in san diego, california. We were one of the first stations to pilot a fleet of electric vehicles. Were striving to deliver a package with zero emissions into the air. I feel really proud of the impact that has on the environment. We have two daughters and i want to do everything i can to protect the environment so hopefully they can have a great future. Cheryl the markets kicking off september on a high note. Right now, as you can see, the dow is up 130 points. Right now, if we hold at these levels, the dow will be back in positive territory for 2020. The s p 500 and the nasdaq hitting new alltime highs. You know whats interesting, typically september is the worst month for the major averages every year. This isnt a regular year, though. Usually the dow and s p both drop about 1 during september. The nasdaq on average falls about maybe half a percent. But over the last three years, the dow and s p both gained during the month after seeing the best august for the dow since 1984, what can we expect this september and how is the election going to play into the fall months . I want to bring in our traders. David traynor and phil flynn. Great to see you both. David, first to you. Nothing is normal about 2020. I think we can call it. But what about september . Septembers going to be a very interesting month. I think we will get a lot of data exactly how covid will play out but i also feel like investors, especially fiduciaries, are starting to shave risk out of their portfolios. I think a lot of highflying tech stocks are going to sort of top out and we are going to see a rotation into more fundamentally appropriate risk reward appropriate stocks across the board. Cheryl you know, phil, the other thing the market is waiting on is stimulus. Theres been some negotiations. Steven mnuchin is actually on the hill today talking to the house, testifying to the house, about where they are with negotiations with nancy pelosi. I would think that if we get a fourth round of stimulus the markets would celebrate. Absolutely. You know what, i think the polls are starting to shift. The pressure is really on washington to get something done. And they havent done anything and its kind of hurt the recovery, its hurting people, so i dont know what they are waiting for. I do think they will get something done because no matter c , no party with go into the election if that party held back the stimulus. Having said that, i think we are changing september. September isnt what it used to be. This could be four september updates in a row. Look at the expectations for growth in the fourth quarter. Its going to be the comeback september, right, as we get to the end of the year, we are going to see the u. S. Economic numbers come in very very strong. We saw it today in the manufacturing data that blew away expectations. I think we will see more of that at the end of the year, and that means we will have a real good head wind for the stock market going through september. Cheryl well, i do want to ask you about commodities while youre here, because i was looking at oil today. Its actually up. You have that strong factory data that came out this morning, the ism number, but also, six weeks of drawdowns for oil. I dont know what the gasoline situation is right now in your opinion, but oil i think has been an interesting uptick. It really is. You are seeing the great rebalancing in the Global Market here in the u. S. I think those numbers can be skewed in the coming weeks. We are looking for a drawdown, tonights report, the coming weeks it may get skewed because of hurricane laura but make no mistake about it, the Global Market is tightening, demand is growing. Not here in the u. S. As fast as we want, but if you take a look at china, they imported a record amount of oil last month. That market is tightening quite a bit. I think you will see even more d

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