Transcripts For FBC After The Bell 20170606 : vimarsana.com

FBC After The Bell June 6, 2017

Moments ago, calling this is a democratinflicted catastrophe. Overseas there is a terror Investigation Underway right now in paris. Details of an attack outside of famed Notre Dame Cathedral and what we know about the suspect. David go back to markets quickly. The dow closing lower for the second straight day as markets await big events inside and outside of the beltway. Nicole petallides on floor of new york stock exchange. Watching it all for us. It could have been a lot worse, nicole. Absolutely. Lets look at tech titans that hit alltime highs. A sell program went in late in the day on fang stocks, facebook, amazon, netflix and google. They hit alltime highs for you, exactly the fang stocks. Amazon went up to 1016. They are on apple tv, fire tv, offering 5. 95 a month for those with low income to have access to prime service. Retailers came under pressure. Retailers really very empathetic to latest reports from macys. Macys announcing their gross margin Going Forward will be less than expected. Decline more than expected, after nine straight quarters of samestore sales declining. It is bringing down the entire group. In fact kohls is down 6 . Dillards down 4 . Selling across the board. Big picture you saw alltime highs but there is a lot to digest other than the markets to your point. David tough time for macys. Melissa. Melissa gold finishing at highest level in seven months settling up more than a percent to 1297 an ounce driven by conflict between saudi arabia and qatar and a weaker u. S. Dollar. Oil ended higher snapping a twoday losing streak ahead of a government report expecting to show ninth straight weekly decline in u. S. Supplies. David white house pushing forward with a packed agenda. President trump meeting in the white house. He is working hard on his agenda. We working very, very hard on tax cuts and working very, very hard on health care. I think well have pleasant surprises for a lot of people. David lets hope they are pleasant. Adam shapiro outside with details. Reporter anthems decision to leave ohio will leave the obamacare insurance exchanges without any plans in 20 counties. Indianapolisbased anthem setting prices for insurance plans under the Affordable Care act or obamacare as we call it, is increasingly difficult due to the shrinking individual market as well as continued changes in federal operations, rules and guidelines. Health care obviously a big topic among the republicans in the senate who are meeting with Vice President pence. They did that over lunch. Senate Majority Leader Mitch Mcconnell says theyre getting close to presenting legislation but republicans Lindsey Graham doubt they will deliver a plan that will pass. Even minority leader Chuck Schumer says obamacare is not sustainable, but he says going backwards would be worse. I have a message for our republican colleagues. It is very simple. Abandon repeal. Stop sabotaging our health care system, you will find democrats waiting to work with you to improve the health care system. Reporter health care is one of the topics that Republican Leaders in the house and senate are discussing with President Trump. Tax reform, 2018 budget remain Top Priorities for the trump administration. Congress has to pass budget resolution before it tackles tax reform. Theyre saying on the hill, david, tax reform most likely this fall. Treasury secretary Steve Mnuchin and Economic Advisor gary cohn they meet regularly almost weekly with republican congressional leaders to find consensus on tax reform should they be able to drop the bill this fall. President trump met with Republican Leadership as we said and will have dinner with different members of the house and senate from the republican side this evening. David lets hope they make progress. Adam, thank you. Melissa. Melissa here to react republican congressman Louie Gohmert from texas. Thank you for joining us. Where are we in this process . Give us some insight. I tell you, i am so proud of this president. This is fantastic. He called me afternoon and one of the things i mention, mr. President , this is feeling a lot like 2005 and speaker and republican majority leader werent really that thrilled with the big tax reform agenda by president bush, shoring up social security. They werent thrilled about it well get agenda done by may, looking good. Not going to be may looks like, well try to by the end of the summer. Maybe september, october. Well give it one more try in december. Then january hit. When we met in our annual meeting we were told, you cant do those big things in an even numbered year. Melissa youre scaring us. And i said, look we have, you cant let Republican Leaders slowwalk this thing. That is the way it is feeling like. I turn around and i find out today he is meeting wi our Republican Leaders on both sides of t building. I am thrilled. Im so pleased for President Trump. He is not going to let this happen the way some have wanted. Some really thought they could slowwalk it, im telling you within the republican party. Melissa what does he have to do at meeting . Does he have to literally light a fire under them . That could be dangerous. But whatever it takes. Not the literally lighting fire. Melissa whatever it takes. But close. He is just the man to do it. But he is doing exactly what he needed to do. He needs to keep the pressure on. And he needs to keep making clear i guys are interested in staying in majority. Im interested in helping country. I know you want to do that too. Melissa what does that mean, i doesnt want to run out of time without getting specifics. What does he have to force them to get . Melissa, we should have had a vote in the senate four weeks ago, three weeks ago. For heavens sake two weeks ago on health care. They have been sitting on this for all this time. I know theyre working on it. They think they may have an agreement but that didnt come up until the president said this on tax reform, the house, there are a lot of people that made clear the president , i thought had made clear well not do border adjustment. Take that out. Get major tax reform done. Lets have dramatic cuts. Those are things we can do, but only if the president keeps pushing Republican Leaders in the house and senate to get it done. Melissa what is the truth though because we hear, dont get distracted by the fact that the presidt is tweeting. Doing big things internationally along with that . Everyone else is locked in a room somewhere with the rules and abicus and construction paper and theyre really getting things done. Is that not the case . Theyre not locked away doing stuff. Come on, definitely, there has been some work by some small number of people. Melissa youre depressing me. Look, most people have not been working on these two issues and im telling you it feels so much like 2005. But the difference is, now we have seen what happened in 05. Im sure President Trump is not going to let that happen. Melissa okay. And i think this afternoon is good evidence. Donald trump is not going to allow this to be slowwalked until were out of time. Melissa i hope youre right. He will keep pushing. Those are two big things. Get tax reform. Get obamacare repeal. Lets get it done. Melissa amen. Congressman, thank you for joining us. Thank you. David lets get reaction. James freeman wall street journaled he tomorrow page assistant editor, Gary Kaltbaum Capital Management mt. Theyre both fox news contributors. James sure seems what the congressman is saying is true. There is slowwalking by Republican Leadership of both these things, both tax reform and health reform, what do you think . I think they know they have to get this done. The calendar is getting away from them. Im not sure they get urgency on tax issue they have to make cuts now, but do it for their political survival, if you dont want a repeat of 2006 as mr. Gohmert was saying they need the economy start growing at faster rate. I guess i would be a little more optimistic because i think they do realize the urgency of the situation, but it is important, i agree with him, they cant allow, in caucus meetings and members whining about the twt from hell from the white house today, too hard to deal with, forget that you have a job to do. Send it to his desk sign it. David i couldnt agree with james more. Forget it. I know about the tweet stuff. Both melissa and i talked for ages about it. It is not helping, however really not helping are swamp creatures inside the beltway been there for decades. They dont want to change anything. They want to keep their cozy situation inside the beltway, houses chauffeurs, et cetera, they are the ones slow walking all this meaningful change. And here is the shame. You have the white house, you have the congress, you have the senate, you have governorships, you have statehouses, you have everything and youre doing nothing. I just listened to that interview intently. Melissa was asking specific questions and getting nonspecific answers. That worries the living heck out of me. I am in hope something gets done but every day that goes by is a bad day. We were talking about this in february, march, april, may. Were now june and the clock is a ticking my friends. David it is, the clocks ticking and economy is not growing as fast as it should. Meanwhile uber informing the employees it fired more than 20 people after a investigation into sexual harrassment. Gary we certainly found out here, you can not let these things fester. You have to hit it fast, you have to hit it hard, right . Absolutely. There is Something Else going on here. I am pretty sure that uber is going to want to go public in the next year and you just cant have things like this popping out. David no. In the middle of road shows and wanting to go public especially when stilhave big losses. They want to do a good deal, they want to do an expensive deal make as much money as possible, get out of the way. There is a lot of this going on and they better get on top of it in a very big way. Melissa the trump family is harnessing power of Middle America again. The Hotel Company bearing the president s name moving into the modest segment of hotel chains, opening less expensive rooms in mississippi which will also cater to the younger traveling market. James, to me this is genius. He identified a market that was underserved, sort of 3star, affordable value straightforward. He knows how to market to the market he identified. Are the problems down the road for him with this . I think this may be happening out of necessity. Obviously when he was first coming into office a lot of questions would his hotels unduly benefit from the fact he is president. Tough to tell this is not a Public Company but it seems like if anything, it has been challenging because he is a polarizing figure. Melissa right. He is not a unifying figure especially in that highend affluent clientele that he is often catering to in the existing buildings. You see some reluctance at time to put trump name on some newer properties. It may be he is going where the market now is for him. Melissa absolutely. Makes a lot of sense. David. David making amazon even more accessible. The ecommerce giant will offer discount on amazon prime memberships to those folks on food stamps. Melissa what . David gary, this boggles my mind, if youre on food stamps do you think you should spend 6 a month for streaming video . Turn it around, if folks can spend 6 a month on streaming video, should they be on the federal dole . Probably not. This is something were yelling about for a very long time but at least it is not government giving out free stuff like they did with the phones and phone service. At least its a company that is deciding to do what they david private redistribution of wealth, that is going on. Private redistribution, you are correct. David i still dont think it makes sense. Melissa. Melissa President Trump slamming the Mainstream Media, tweeting the fake Mainstream Media is working sew hard trying to get me not to use social media. They hate that i can get honest unfiltered message out. Sorry folks, but if i would have relied on the fake news of cnn, nbc, abc, cbs, wash post, new york times, not that he is naming names or anything, i would have had zero chance of winning white house. James, what do you think . I mean he is, one thing i have to argue with him about is, cnn gave him a lot of airtime and perhaps some other networks, or the News Networks as well. So i think he has to thank some established media if you will for where he is, look, for everyone who grinds their teeth looking at some of these tweets he puts out, you have to have a little you humility. A lot of us were saying he has no chance. David thats right. He figured out really better than anyone how to spend very little money, earn free media and use technology to get his message out. Melissa yeah, i dt know. Gary are the tweets gumming up the works is he, does he have a direct path to the people who support him and they love it . As my nanny used to say, oyvay. There comes a point in time where we know what you think. I agree with him everything that is going on in the media, but there comes a point in time much more important things to get done. As we stated earlier, taxes, health care, immigration. You name it. If you spend half your time dealing, putting down others in the media you will not get the job done. My main message, get specific, away from you will at noise. Melissa my husband said i shouldnt be a allowed to use the phone before breakfast because im irrational and meanspirited, maybe there is something in there. The time of day you can tweet. Twice, thank you. David back in the old days they used to say tear up your first angry note. Tear it up, wait a while and write another one. Melissa save the draft, second ones might be good. David paris is on high alert after a man attacks a Police Officer in front of Notre Dame Cathedral. A terror investigation is underway. The latest what we know now. Melissa new developments in the fight against isis as u. S. Backed forces close in on a key strong hold. What it means for the safety here at home. David the feds making first arrest for antitrump leaks. This is the woman. The latest on a georgia woman accused of leaking classified information from the nsa. As one hollywood heavyweight is trying to encourage more leaks th the launch of a new website. Here is my advice to these leakers. Grow a spine you gutless pence. Leave the government. Stop taking taxpayer money you seized to basically destroy the United States from within. Fees . What did you have in mind . I dont know. 4. 95 per trade . Uhhh. And i was wondering if your brokerage offers some sort of guarantee . Guarantee . Where we can get our fees and commissions back if were not happy. So can you offer me what schwab is offering . Whats with all the questions . Ask your broker if theyre offering 4. 95 online equity trades and a satisfaction guarantee. If you dont like their answer, ask again at schwab. Abreak through your allergies. . Try new Flonase Sensimist allergy relief instead of allergy pills. Its more complete allergy relief in a gentle mist experience youll barely feel. Using unique mistpro technology, new Flonase Sensimist delivers a gentle mist to help block six key inflammatory substances that cause your symptoms. Most allergy pills only block one. And six is greater than one. New Flonase Sensimist changes everything. So new touch screens. And biometrics. In 574 branches. All done by. Yesterday. Banks arent just undergoing a face lift. Theyre undergoing a transformation. A data fueled, security driven shift in applications and customer experience. Which is why comcast business delivers Consistent Network Performance and speed across all your locations. Hello, mr. Deets. Every Branch Running like headquarters. Thats how you outmaneuver. Tthats why at comcast,t to be connected 24 7. Were always working to make our services more reliable. With technology that can update itself. And advanced Fiber Network infrastructure. New, more Reliable Equipment for your home. And a new culture built around customer service. It all adds up to our most Reliable Network ever. One that keeps you connected to what matters most. Melissa not backing down, the white house responding to what could be the first leaker to face prosecution under the trump administration. Blake burman live at the white house with latest. Blake . Reporter melissa as all russia related stories from the white house it is white house saying look, the real focus on the stories is the leaks themselves. Now they have their first potentially official case to comment on as there has been arrest of a 25yearold contractor, a defense contractor from georgia as relates to a story, top secret information, given top secret document from the National Security agency. That was leaked to the website, the intercept. Com. This person has been charged under the espionage act. Press Secretary Sean Spicer was asked about this, wouldnt comment on the specific case, it was an ongoing situation, he couldnt get into the matter. However he talked about the need to keep classified documents out of the public domain. You heard the president very clearly talk about about the concern he has about unauthorized disclosures of classified and sensitive information, and th

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