Transcripts For FBC After The Bell 20160520 : vimarsana.com

FBC After The Bell May 20, 2016

Checking the identities of everyone on board, including the crew and the pilots. Weve got an allstar lineup for you this hour as well as dana perino, howard kurtz, bret baier and steve forbes. Liz great david great lineup. Marking the fourth straight week in the red, the longest losing streak in almost a year and a half for the dow. Phil flynn of price futures and fox business contributor is watching the action in gold from the cme, and Ashley Webster on the floor of the new york stock exchange. Ashley, first to you, what a wild week for stocks. The earnings, the federal reserve, go ahead. Reporter interesting, because yesterday the thought of a summer rate hike really spooked the market with pretty hawkish comments from fed members. We saw the hit the market took yesterday but its kind of a onetwo punch. The second punch being, wait a minute, that means that the economy they be better than, you know, we think. The fed certainly things so because its looking at raising rates earlier, thats why we saw more money coming in. We saw steam as the afternoon wore on. Still finished up. Didnt quite eclipse where we finished last week. Dropped by about 35 points short. However, Technology Sector today leading the way, which is interesting, the nasdaq has been under a lot of pressure, but today, the nasdaq and the s p actually snapping that losing streak as liz claman just said. Interesting fed psychology, on the one minute bad news, but wait a minute, maybe it means the economy is doing better. Such is the market these days. Melissa ashley, thank you so much. Oil is ending higher for the second straight week. What do you make of that . Right now, im telling you today oil prices did pull down a little bit on the hope that were going to see more supply out of nigeria, melissa. Definitely seeing the momentum change in the market. Weve had a lot of buying because concerns about outages around the globe and u. S. Energy production falling for eight weeks in a row. We did get a report for baker hughes on the oil rig count, it stayed steady week over week but at the lowest level since the 1940s. Traders have been looking at the falling wind count as a projection for future oil production, that continues to stay steady at the low. Maybe were leveling out there. But if you look at the other markets today. You look at gold for example. Gold did close lower on the continuing concerns about a strong dollar. That comes despite the fact that speculators cut their bets on long dollar for the second week in a row. Even though the dollar has had a lot of strength this week, some of the traders are not believing that the fed is going to raise Interest Rates. We may be seeing a pullback on that as well. The other thing is gasoline continues to be strong, record demand for gasoline, expectations were going to see record demand over the holiday and the prices probably continue to head up. So we have a very Strong Demand backdrop for the energy prices, and its going to be an incredible week as we get ready for next week. Melissa phil, you always have your finger on the pulse, appreciate it. Thank you. David inside the beltway, breaking news, the fbi responding to reports of shots fired outside of the white house. Fox business peter barnes standing by with details. I understand theres a man down . Reporter thats right, david, the u. S. Park police are confirming a shooting on the white house area, and were hearing that apparently there was a gunman who attempted to get into the white house compound and was warned by u. S. Secret Service Uniformed police to stop. He did not. And reportedly was shot, and according to washington post, he was critically wounded and has been taken to the hospital. Im just getting handed more information about this, and while im looking at it, want to you know that the president is not at the white house. He left around 1 00 to go play golf at Andrews Air Force base, joint base andrews, and according to our colleagues who are with him in the white house media pool, he is still out there. We do not have any information where the rest of the first family is unfortunately, but were looking into that, and our colleague matt dean from fox news is reporting that Law Enforcement sources are telling fox news that a secret Service Officer shot an individual in the stomach after that person approached the white house complex with a weapon in plain sight. Fox is told that the individual was commanded to drop the weapon, and when the individual did not comply, secret service opened fire. That individual has been transported to a nearby hospital with a critical injury. Sources could not confirm what kind of weapon this person was brandishing. We do also know that police have closed off several streets around the white house as this incident unfolded, 17th street, about four blocks down from pennsylvania avenue, down to constitution avenue. The street along the National Mall and constitution avenue itself along the front south lawn of the white house. David peter, i have a question, west executive drive is where the guy was shot. How close is that to the actual gate in front of the white house . Reporter well, i dont think he was that close. So west executive drive is actually between the white house, where the west wing is and then the Old Executive Office building, but it runs all the way down from the top of Lafayette Park down to constitution avenue. So it could be it sounds as though this was near constitution avenue, the Southwest Gate of the white house, and you have that david thats an ap report that says the shooting happened west executive drive. Thats from the associated press. Yeah, and according to the park police, they are confirming that the shooting was on west executive drive, but im saying that west executive drive is a long street, and he could have been much sounds like he was pretty far away from the white house itself. David peter, thank you very much. Here is chris harmer, senior naval analyst. Its always of concern, even before shots are fired if anybody has a gun drawn anywhere near the white house. Seems as though this guy got close, doesnt it . He got close but, of course, washington, d. C. Is a pretty open city up until you get to the borders of the white house, there is a fence all the way around it. You can walk around most of d. C. Without Law Enforcement in visible sight. So looking at this, sounds like this guy pulled a weapon out as he approached the white house. Secret service responded appropriately and shot him. My instant analysis, subject to review, is this guy is not a professional. Hes not going brandish a weapon in plain sight. David some idea of the president s schedule. As peter mentioned, the president left two hours earlier. Maybe hes a thrillseeker or a terrorist and wanted to cause commotion, if hes a professional, he would have idea where the president was. I think at this point, im saying that the secret service responded appropriately and we should take comfort as citizens that our federal government protected us. David this is the president were talking about, there may be other people involved. Shouldnt thereby a major lockdown of the area to make sure he doesnt have accomplices . Absolutely. The federal government, you go from local Law Enforcement to federal Law Enforcement to the military. All four branches are spring wired to overreact to any incidents that are near the president , the white house, the pentagon, Major Military bases, et cetera. Lets assume for the sake of argument, and i dont believe he was part of organized group. Maybe he was the first guy to come in and do probing and find out what our defenses are. The appropriate response is to overrespond to make a show of force to force anybody else out there to suppress activities. It looks like all indications this guy was a lone actor and not a successful one. David breaking news, the lockdown has been lifted. The white house lockdown has been lifted. One would assume, chris, they wouldnt do that unless they were sure this guy was a lone actor . Almost absolute confirmation that this guy was a lone actor. My assumption is he was mentally disturbed, deranged. Weve seen this where guys get close to the white house. This guy is the idiot who decided to brandish a weapon and got shot by the secret service. Secret service took him down, i dont think there is much more to this than a single guy doing something extraordinarily stupid. David on the other hand, we have the plane going down on the way to egypt, a lot of threats from isis as is usual, i imagine there are going to be reconstructions of plans that exist in order to prevent anything like this from happening again. Absolutely. One of the things we always do in the military, any time there is an actual event, our Immediate Response time and we debrief the event and say okay, our preplanned options, were they correct in the instance . Is there anything we can learn from this . This one played out exactly by the book. A guy approached the white house opublic property or outside of secret service purview, he approaches the white house, brandishes a weapon, he gets taken down. This is a by the book response by armed intruder or armed incursion against the white house. I dont think the military had involvement, i dont think the federal Intelligence Community will have involvement unless the flag come up he was a foreigner or influenced by foreign terrorist organization. Liz great analysis, chris. Have a great weekend. Appreciate you coming in. Melissa dana perino is here, and were hearing that the media has been seque inside the white house, im seeing that may be lifted. Let me ask you about something james rosen said out of the gate. He said the reporters were told to go down to the basement where booths are and they refused. This is a classic reporter instinct, when you are told to go to a certain place and im guilty of it, no, you want to get the story. Whats your reaction to where they were and what you can fill us in on what that sounds like to you . You have it exactly right. Reporters want to be where the action is and dont want to be told they cant do something because they will miss a story. Like if you are on a plane and the seat belt light is on and you insist on getting up. They cant force you back into the seat unless you are going to cause a problem of safety for others. Thats their own personal decision, if you were the secret service, you should go down stairs, reporters instincts is everything is going to be okay for them and they would prefer to get the story. Melissa for whatever reason, your own safety goes out of the window and you say im the only one to see what will happen. That wasnt the case on 9 11 itself, actually. Everybody needed to get going. Melissa everybody knew it was serious. Thats a great point. I also was reading that some of the reporters tried to leave the west wing and go outside and immediately the secret service opened the doors and told them to get the heck back inside, that the area was in lockdown, and that case they did follow instructions. So maybe better instinct set in at that point. What must that scene have been like in your mind . Obviously people in Law Enforcement have that energy about them in terms of authority, and they also need to be respected. The reporters have a job to do but so does the secret service, and the only reason theyre acting is trying to keep people safe. I would imagine the reporters were willing to comply. They werent being prevented from reporting on the story. One thing that is interesting in this case, as i recall when there is an incident such as this, the press secretary defers to the secret Service Communications division. Thats why you havent seen anyone tweeting or commenting out of the white house itself. Theyll let the secret service take the lead and appropriately so. Melissa for people at home who have never been there, what kind of area are we talking about . A lot of us picture its like an office building, is it more like that . More like a house . What would you liken it to . When peter barnes said it was the Southwest Gate, thats the gate i used to go into every day or my husband would drop me off there. You head into the gate, there is about 18 acres total of white house grounds. So this is a small little area, theres a street that comes in. You have to pass through a hut, i call it a hut, its substantial, its not made of sticks. Melissa like the guard house. And you go through security, there if you have a badge like i have, you flash it, they know you, your car gets swept and dogs have a sniffaround to make sure everything is okay, then move onto the next checkpoint. There are two checkpoints to get through the lane that separates the Old Executive Office building from the west wing. So i think the previous guest was right, he was far enough away there wasnt immediate danger to anyone in the white house, but its close enough the secret service by all accounts so far took absolute appropriate action, not just in talking to the reporters and telling them to stay inside but in taking down somebody who was doing something absolutely criminal and inappropriate. Melissa dana perino, unique perspective that the rest of us dont have because we didnt work there. Thank you very much for coming on. Appreciate it. David imagine being dropped off every day at white house for work. Melissa honey, thanks for lunch, dont forget the lunch. David just to wrap up what happened, the white house is okay, the lockdown has been lifted. The man who drew a gun in front of secret service was ordered to put down the gun. Didnt put down a gun, was shot in the stomach, now in critical condition. Apparently he was all there was to it. A lone, crazed gunman has been shot, in the hospital. Danger over. More on the markets coming up. Plus donald trump addressing the National Rifle association, getting the nras big endorsement despite once supporting an assault weapons ban herself. Melissa while Hillary Clinton says she is the democratic nominee, Bernie Sanders begs to differ. What about a clintonsanders ticket . We bring the question to bret baier. David long lines at airports, new report showing where the agencys money is really going . This is going to get you and all flyers in the world furious look at those lines. Take so long they had to cut the line and take half of the line to another entry gate. Really long line, im wondering if im going to make that plane. I think people are missing their flights, not realizing how long the lines are. When a moment turns romantic why pause to take a pill . Or stop to find a bathroom . Cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. 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Secret service saying in a recent tweet, thats how they communicate now, that all of its protectees are safe, though we have received reports that a secret Service Agent was shot in the stomach during the incident. The suspect is now custody and president obama has been briefed on the security situation. Were going to bring you more updates as we receive them. David it was a wild ride for the markets, stocks were whipsawed by earnings and different messages by the feds. Some saying theyre going to tighten, some not. Jack hough, barrons Senior Editor and john petrides. What happened is after the rate hike, as small as it was, i think we have a chart, the dow was up a month later, 9. 7 . The s p was down, the nasdaq was down, thats not correct. The nasdaq was down 11. 7 . So the markets were hammered after that tiny little rate hike. Theyre afraid of that happening again, right . Theres many factors that went into the market selloff. Fed is not helping the market direction here by raising rates in december, stepping to the side in february, and now saying they may raise rates in june, two fed governors speaking next week so well see where they come out on fed policy. David jack, its been my policy, melissa agrees with me on this, the fact is that janet yellen does not want donald trump to win, she recognizes if the rates go up before the election, the same thing that happened in january would happen again. The market would be and i would make trump maybe not guarantee he gets in the white house, make it easier for him. Did she send you an email about that, david . David jack, if you dont think there is politics in the fed, you are living in la la land

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