Ceo will join us with a first on cnbc interview. It was really good. Breaking news from the white house. President trump about to discuss the Senate Health care bill. Kayla tausche has a detail and maybe some breaking news as well kayla . Reporter bill, we are expecting the president to make remarks from the blue room here at the white house in just about 15 minutes time but it comes as the white house and its cabinet agencies are trying to coalesce and put together a unified policy and a unified front in exactly what its stance is when it comes to health care. Of course, this as the senate is expected to vote this week on a procedural motion to proceed on the houses Health Care Bill its that sort of slate from which they can build, they can amend, they can potentially edit that as they see fit, but it is that motion to proceed that is going to come up this week im told by senior gop aides theres no date set for that just yet, but in terms of white house policy, a Senior Administration official tells me here at the white house this morning there was a meeting between principals from the office of management and budget, the health and Human Services department, the white house legal team, the National Economic council, treasury and a couple other units of the administration to talk about this issue of costsharing reductions and whether on a goforward basis the administration would be willing to make these payments to insurers Going Forward im told by the Senior Administration official that no decision was reached, that the principals broke after the meeting without a unified agreement on what exactly the white house is going to do Going Forward. When i smoke to people in the press office here, they said they didnt want to get ahead of the president s remarks this afternoon. When i spoke to the hhs, i just got a statement that came into my in box right as i was going to air saying secretary price supports the president s position as part of the deliberative process, secretary price believes the decisionmakers have a full understanding of all potential outcomes thats attributed to a National Spokesperson for hhs, but interestingly we dont know exactly what the president s position is on this matter hes said at various times that hes willing to keep it afloat or that hes willing to let it fail, that he could unilaterally pull the plug on some of the patients that the insurers have cited as one of the reasons that they are going to stay, raise prices or leave these exchanges, so well see if the president makes any comment to this effect but interesting to note, guys, that according to a Senior Administration official the white house has not decided how it will treat these patients Going Forward, despite attempting to do so. And so they have to make this decision every month, right, kayla well, in may or they will right now. In may they made a decision because of a pending court case that they had an option to freeze for 90 days and the strategy at that time was to make the payments for 90 days while that case was on hold. Now, from the date of that decision, is which was may 22nd, that would seemingly cover the payments in june, july and august and the white house went back and said this is a monthtomonth thing we reserve the right to change our mind they are trying to expert leverage over insurance and lawmakers though despite back in may the plan was to make the payments for 90 days we talked about this last time around. They have said their premium increases would next year go from 4 boss to 25 so obviously a lot at stake kayla, for now, thank you. You saw the picture of the blue room at the white house the president right now is meeting with some people involved in obamacare who had unfortunate experiences, we are told, and then hes going to come out and make a statement about health care. Democrats in washington, meantime, have been rolling out their new populist agenda ahead of next years mid terms ylan mui has the details. Reporter this plan is called a better deal and its part of democrats play to win over working class voters this new Campaign Includes an independent agency that would take on the cost of prescription drugs and a trust buster to scrutinize and corporate mergers, the Beer Industry and even Cable Companies and democrats made the announcement this afternoon in berriville, virginia, a rural town in a contested Congressional District and some of the biggest names in the party were there, including senator Elizabeth Warren americans know that this economy is rigged, rigged in favor of billionaires and giant corporations and rigged against everyone else, and its not hard to see how this happened in industry after industry a handful of corporations have seized power in this country reporter democrats say their plan will lower prices, raise wages and put more people back to work. Senator Chuck Schumer has admitted that President Trump crafted a better message back in november but, guys, democrats are realizing that they cant just be against trump if they want to win in 2018 and beyond that well see if this new campaign resonates. Yes, we will. Ylan, thank you very much. Ylan mui in washington lets get to our closing bell exchange, a down day except for the russell which is up, so no records at least right now for the major averages cnbc contributor peter bookmahr. Steve grasso, its not an opec meeting but they had a meeting of the opec ministers and oil has popped and youve got a fed meeting and a lot for the market to try to digest. Theres a lot to digest and oil has definitely bounced and oil is starting to stabilize around those levels we heard from halliburton, they beat the stocks down bad Conference Call and if they are changing their ways on cap x being that oil is having a hard time breaking above 50 and if you believe that the company will have a hard time and oil will have an easy time breaking above 50 so thats the crude angle. The problem is we dont know how to play those companies because they are lag yards riggards rigd if you think you want to hit a home run in the next six months you have to sort of swing for the fences and you might come up empty, but a lot of people would play energy. Halliburton down 5 it did catch my eye that both the dollar and crude were up the dollar weakness pretty indrebl. What do you make of it all i think its a combination of factors. Yellen is certainly tightening and we know how gradual that will be and other Central Banks are trying to take away the punch bowl as well and the dollar is one of the more overcrowded trades we saw in many, many years the u. S. Economy going into this tightening cycle has been pretty fragile and investors are somewhat concerned about that and that helps to explain the weakness in the dollar. Rick, i mean, weve got the fed meeting. Nobody is expected them to do anything policywise, so do they have a barbecue with hot dogs and hamburgers what are you expecting to come out of that meeting there, anything well, just the back that we have 2s, 5s and 7years, no early auctions or postponements of auctions and whenever theres a press conference and it looks like something happen, the auction actiongets tweerked. I think this is pretty accurate. I dont expect anything, and youre on to all the main topic. Peter boockvar has it nailed down with regard to our fed in the ecb. You think our fed will talk up potential Balance Sheet reduction and maybe they will actually get around to doing it, but were probably learn in jackson hole that mario draghi is probably not going to talk about it very much dont think hes anywhere really close to doing anything substantial, so the same dynamic stays in place our central bank steps out and others continue. It kind of gets lost in translation finally and the markets are ongoing with low volatility i think more of the same, and i would even go so far as to say that with regard to our Balance Sheet, i really think what ultimately what it will turn out to be is somewhat smaller obviously than 4. 5 trillion, but everybody including ben bernanke is talking about, they want it to be less than 1 trillion,. 75 trillion before the crisis hit because thats the new kind of bank of liquidation and potential liquidity, so were always going to see something larger than previous to the crisis and most likely rates by the fed, if they can get one or two more, that gives them three or four eases when things get softer, and soft is what everybody is most concerned about these days the glide path has changed ever so subtly, but it doesnt seem to be on the same upward trajectory it was three quarters ago. Steve, how important are earnings from google after the bell to the rest companies this week you already mentioned halliburton and we saw the impact the laggards have had on dow the last couple of session. Its very important and if youre looking for a rotation to take you to the next level in the s p, then youll need to see other companies or other sectors do some of the heavy lifting, and its very difficult to rotate out of tech when you have netflix print up 10 day after earnings, so it leads people to believe that they can still ride the f. A. N. G. Names. Go back to alphabet on the screen it was around 1,000, unless my eyes fail me back below the low. Thats the case how do you tell people to rotate into energy and rotate financials have been up. Financials if you go back to the election really popped pretty aggressively to the upside, but how do you tell people to rotate into energy when tech has performed the way it has. All right gentlemen, love to continue the conversation weve got to get ready for the president and his comments on health care so we move along thank you all, Peter Boockvar and steve grasso and rick santelli, thanks see you later. A little more than 45 minutes ago. The dow down 37 points and the s p lower by a point and a half, the nasdaq up 18 and the russell hanging on to a gain of a point right now. President trump is set to deliver a speech on the plan to replace obamacare anyminute now. Well bring that to you live as soon as it happens and well have instant reaction on what it means for insurance. And the Motion Picture dunkirk helping to fix the slumping box office and when we come back the imax ceo Richard Gelfond is here tell us whether more films like dunkirk can get people off their couches and back to the Movie Theater like me. We want to hear from you. Closingbell nbcuni youre watching cnbc, first in business worldwide [brother] any last words . [boy] karma, danny. Karma [vo] progress is seizing the moment. Your summer moment awaits you, now that the summer of audi sales event is here. Audi will cover your first months lease payment on select models during the summer of audi sales event. Just a reminder, the president is scheduled to go before cameras here at the blue room at the white house to talk about health care. Its his statement well find out whats on his mind after a meeting with citizens who have had trouble with obamacare in the past that will be coming up momentarily. We might have to interrupt our conversation in a moment. See if he alludes to the vote tomorrow that issue that kayla raised at the top of the hour about whether they will continue to continue to pay that amount to the insurers anyhow, thats what were listening for. Christopher nolans war effort dunkirk seeing a strong Opening Weekend at the box office, the evacuation of british solders pulled in more than thats imax ceo mark gelfond. Im sure you were cheering after you saw the box office receipts. I was actually screaming in happiness. So many things to talk about. You were really very closely tied with Christopher Nolan in this because he shot most of the picture in imax cameras, right you have to go back about five years chris wasnt enamored with 3d and always loved imax and we worked with him and some of the dark knight movies and batman, interstellar, and weve become a family he loves imax and developed a tempo this working together. Do you think this makes other Directors Think twice about how much more deeply they can get involved ive thought about that. Other directors have used our cameras for sequences like in the star wars and mission impossible, brad bird did it. Michael baie used it a great deal and theres something about the movie industry its somewhat of a me, too industry when one tornado movie works Everyone Wants to make a tornado movie. I think more and more people will work with us. The fact that this kind of movie is released in the summertime this is the kind of movie that comes out end of year to get ready for the oscar movie. I was a little bit nervous, a war movie, millenials, wouldnt work, but you have to have faith in chris the guy really knows what hes doing. Besides a filmmaking genius hes a marketing genius also and he proved it again. I saw it yesterday, and when i left im looking around at the crowd that was going out mostly male but also older couples as well, and that was sort of the demographic i think that you ended up going after, didnt you its interesting, because when you think of imax, you think of fan boy but a lot of our biggest movies like gravity, like some of the movies that chris has done before interstellar were not phone boy movies it doesnt open in china until september 1. Right. You guys had some roadblock in china or bumps in the road lately imax, i mean, do you think this movie could be an important part of giving a little bit of a business to the business over there as well . In context weve grown to where we now have about 400 theaters in china and were a Central Force in china on positive side. Content has been a little challenged this year im very encouraged because in taiwan this movie did very strong results and typically the China Box Office follows the taiwan box office. I feel good about it. Your stock is doing well today. Letsface it, imax stock has had a tough year so far, and it got me to thinking you had to have received some takeover offers at some time or another, chinese distributors buying up u. S. Distributors. I would think that you would be a prime target for a lot of these companies to want to buy up the imax system as well. Well, im flattered you think that, bill, but i wont comment on it one way or the other. I didnt think you would. Were seeing consolidation in the Distribution Industry anyway for various reasons. I would think at some point you would participate in that, dont you . Well have to wait to see what happens. One sort of related question on that. We had a guest last week tell us that the reason he thought your stock was vulnerable because netflix has been pushing this simultaneous release model where well give a them to and put it into the box office. Will imax remain opposed that you can watch films in your house at the same time they appear on imax that specific model we dont like so were a very Innovative Company so coming out december 1st we did a film with marvel. Marvel did a tv show called inhuman. Released in imax and three weeks later on the Abc Television network. We dont like the netflix day and date model but, on the other hand, its a changing world and you need to be open to new technology. We have to go here in a second i was reading the other day that dunkirk is exhibited in six different formats including something called laser protection and xenon protection. Whats that . Are we slicing and dicing it when xenon is the first generation of Digital Projection which replaced film and laser is another iteration on the cutting edge. Am i going to notice a difference you will. At Lincoln Square at 68th and broadway and check it out and tell me what i though i missed the first 20 minutes. He was watching the golf. British open got in the way dunkirk is much more entertaining. Thank you for calling us today. Richard gelfond, the ceo of imax President Trump said to to issue a statement on the plan to replace bamacare. And alphabet shares that been doring should you buy after the Earnings Reports come out in less than an hour. You wont see the rocks new movie at the local multiplex. When we come back hewhy teamed up with apple to produce a fourminute commercial when this bell rings. It starts a chain reaction. Thats heard throughout the connected business world. At t Network Security helps protect business, from the largest Financial Markets to the smallest transactions, by sensing cyberattacks in near real time and automatically deploying countermeasures. Keeping the world of business connected and protected. Thats the power of and. Welcome back with the dow down 39 points, athletics retailer Hibbett Sports releasing reports that its stock is down 31 and look at footlocker down 4. 5 , dicks down 5. 5 . Hibbett which has a 300 million market cap cites very challenging sales trend and significant gross margin pressure in this warning footlocker as i mentioned, dicks and also under armour are all getting hit on the back of this news and hibbett sport is part of the death by amazon index which turns performances of Companies Due to the rise an amazon heres their Stock Performance and moving on downward slope since last year. Yesterday one of under armours star athletes Jordan Spieth won the british open with an incredible performance there at royal birkdale. I read about the bogey. I w