Transcripts For FBC After The Bell 20170628 : vimarsana.com

FBC After The Bell June 28, 2017

Cracking down on criminal illegal immigrants. The president just meeting with victims and urging congress to pass two new bills, including kates law and one defunding sanctuary cities. Among our guests this hour, Cleveland Clinic, toby cosgrove. Senator pat toomey. Former sec chairman, harvey pitt. Ambassador john bolton and jordan sekulow. Melissa the dow soaring up more than 140 points, almost 143 driven higher by shares of goldman sachs, caterpillar and apple. Lets go to nicole petallides. She is on the floor of the new york stock exchange. What a day. Talk to me about it. It really is. The market bouncing back after yesterday which was the biggest selloff in a month. We really saw financials take off leading the market for a second day. Those areas such as bank of america, jpmorgan, really got a jump. We saw treasury yields moving higher, highest in the month. Idea fed raised rates, yields are higher, profitability to the banks. 10year bond 2. 22s as i look at the board there. Tech stocks, a whole another story. Everybody loves tech for the month. Some of the names did well, facebook, nvidia in positive territory but after the tech wreck some were faltering. The nasdaq holding on to gains whether they have eight months in a row of gains, havent seen that since 1999. Alphabet, facebook, apple, google all across the board. People feeling better. The ipo, blue apron, a prn, word on the street it will happen. There is some talk whether or not they will pull it because they lowered the price range. No, zooms a go. 10 to 11 a share versus 16 or 17. They have competition from amazon and whole foods. How will that factor in. Well watch for that. Well watch for the ringing of the opening bell tomorrow morning on blue apron. That is all about meal kits. Get your gourmet deal delivered to your home. Cook it up with friends and family. Melissa there you go. Too much work for me but a lot of people love it. David i know a lot of people that love it. Tech turn around is the big market story. Let as bring in the market panel. Jonathan hoenig, capitalist Pig Hedge Fund foxx news contributor, and kevin kelly recon capital partners. Kevin, there is something in the area. This morning futures were down on nasdaq, if you can believe it. I felt like they would pop, that some people take advantage, but 1 1 2 . What turned it around . What turned it around, if you look at fundamentals you know lying the tech sector, theyre doing well because half of the earnings come from overseas. Weve seen the hard Economic Data over there get better and as well as their Central Banks indicate that Economic Data is Getting Better and theyre focused on that. I think it is having to do with windowdressing going into the first half of the year being over. Tech has outperformed the overall market, double, so Portfolio Managers are trying to position themselves when their portfolios come out at end of the month, were smart, weve had tech in our portfolio. David jonathan, is it smoke and mirrors to a certain extent or real value in the tech stocks . There is value, david. It has been pointed out. These have been leading this bull market. I believe it is still a bull market. Look today, 151 new 52week highs. Only 52 new 52week lows. So a lot of stocks out there still doing well but the thing that changed no longer it is tech that is leading the charge. Stocks like we heard from lori rothman, American Express, northern trust, the financials, jpmorgan, they are picking up the slack. The question is what will it be as tech will not be the new bull Market Leader moving on. David guys, thank you very much. Melissa. Melissa facing a tight deadline, Senate Majority leader Mitch Mcconnell is aim aing to send a revised proposal of his Health Care Bill to the Congressional Budget Office by friday. Our own blake burman live at the white house with the latest. Blake. Reporter hi, there, melissa. President trump earlier today predicted there would be a quote, great surprise as he put it as it relates to health care. This was a day where the president on couple different occasions acknowledged the tough climate that senate leadership, Senate Republicans are dealing trying to get this plan to go forward from here on out. He talked about the if at several points earlier in the day. Watch. We have a plan that if we get it approved, it is very tough. Every state is different. Every senator is different but i have to tell you the republicans senators had really impressive meeting yesterday at the white house. I have to tell you it will be a tremendous plan. It will really, you will have a lot of very, very happy people in this country if we get it done. Reporter shortly after that i was able to fire off a couple questions to the president , ask him, why he talks about this now as an if, whether or not he was hopeful Going Forward that republicans would be able to get this across the finish line, and the president responded to me saying twice, and i quote, i always say if. Meantime here in washington today on the senate floor the top democrat in the senate, chuck schumer, had this offer for President Trump who was, when asked about it was openly skeptical. I challenge you to invite us, all 100 of us, republican and democrat, to blair house, to discuss a new bipartisan way forward on health care. Going to find out if he is serious. He hasnt been serious. You have to be very, very serious. Reporter at the press briefing today here at the white house, off camera, done with Deputy Press Secretary Sarah Huckabee sanders she was asked if the white house was hopeful what really gives them hope . How do they see a way forward in all of this. Sanders responded by saying, never underestimate the president. Melissa, well see how it all shakes out. Melissa blake, thank you. A last Minute Health care push. Vice president mike pence meeting with Small Business leaders in cleveland where he is expected to make comments this hour on the importance of repealing and replacing obamacare. My next guest says though that the gop plan doesnt fix the root of the problem. Here now is dr. Toby cosgrove, Cleveland Clinic president. Thank you so much for joining us. It is my pleasure. Melissa youre not the only one saying this. The root of the problem, the heart of the problem really doesnt have to do with insurance, it has to do with the cost of health care. How do we battle that. I dont think there is any question about it, the main problem we have is the rising cost of health care, we need help to make health care more efficient and more affordable. Falls into two buckets. One, we need to have more Efficient Health care Delivery System to look after people who are ill, and that is going to have to deal with the tremendous amount of regulation weve had. We have 14,000 pages of regulation in the last two years. It has to do with the ability to come together as a system so we can consolidate hospitals, get efficiency of consolidation. We have to look at drug pricing, our pharmacy costs went up 19 last year and they continue to be rising way faster than inflation. Melissa okay. Yeah. On the other melissa tell me the other part. On the other hand we have to deal with the epidemics sweeting across our country. Opiates, are a major problem. Obesity, a third of the country obese, accounting for 10 of our health care costs. We have 18 percent of people smoking, a problem that can be a major cause of cancer that is preventable. Melissa okay. There is a lot of things we can do. Melissa everything you said makes perfect sense of the lets attack the first part, when you talk about bringing the cost of delivery down, you talk about the burden of regulation which is easy for me to understand. At the same time i feel like so in new york city, for example, there are doctors who dont take insurance. So you treat them like anyone who is offering a service, how much is this going to be, here is what i can pay. You agree on a price. You bring the consumer and provider together. Seems like when you have insurance as the middleman, price is fixed i didnt agree to, im getting a discount on the fake price. It has to do with too many middlemen, the buyer too far from the seller. Where am i going wrong with that . How do we fix that. New york city is anomaly in the health care of United States. Melissa im saying with that example, if youre actual paying, youre a better steward of the money than if the Insurance Company is paying. Thats true but a lot of people dont have the ability to pay. Melissa of course. That is the main thing were talking about, 74 Million People in the United States are dependent upon medicare. And equal number on medicaid. And so, 49 of the people in the United States Health Care Bills are paid by the federal government. So we are dealing with that, and those are the people who are melissa how you do you deal with that . How do you get the waft out of that equation . If somebody using something without paying for it, somebody billing the government, a phantom person million miles away nobody is focused on efficiency and cost. How do you fix that problem . Here is what is happening now. Theyre not being paid anymore for volume. Were increasingly being paid for value. The emphasis on people keeping them well, keeping them out of the emergency room, out of the hospital, driving efficiencies. That is the direction that is going on across health care, whether it is private insurance or government pay, that is the direction were headed, and it is going to require time for us to make that transition. Right now out of two Million People that we have in, that we look after, 800,000 of those are now, we have risks for. We want to keep them healthy and keep them out of the hospital. That will ultimately reduce the cost of health care for our country. From your lips to gods ears. Toby cosgrove, thank you. My pleasure. David i remember, i still remember when the doctor came to our house and my dad walked him to the door, took a bill out of his pocket, paid him, no paper, no insurance, no government, no nothing. I dont know if it is a pipedream if we get back to there. But it would be nice to it. Oil settling up to 44. 74 a bail. Climbing for fifth straight session this is longest winning streak since the 23rd. Oil is down 7 for the month, not bad for when you drive. Melissa you heard from dr. Toby cosgrove, what he wants to put in the health care by, what we should be driving for. How that is getting first of republicans on board, most republicans. The senate hoping for a new version by friday. Can they get enough votes this time . Well ask opinions vain congressman pat toomey. David two media giants in the crosshairs over false reporting. The one facing a major lawsuit. One taking extreme measures to avoid one. Melissa President Trump pushing congress to pass two new bills aimed at saving american lives. Increasing penalties on criminal illegal aliens and one defunding sanctuary cities. American center for law and justice director, jordan sekulow, will weigh in. Introducing new parodontax. The toothpaste that helps prevent bleeding gums. If you spit blood when you brush or floss you may have gum problems and could be on the journey to much worse. Help stop the journey of gum disease. Try new parodontax toothpaste. Art. It can be sculpted, bringing to life beautiful detail. Or painted in luxurious strokes. And in rare cases. Both. Melissa breaking news. Sycamore partners working on deal to buy Office Supplier staples for 6. 5 billion. The gile could be announced later today. David the president pushed for tougher immigration, speaking with families that had People Killed by illegal aliens. To start getting smart. David here to react, jordan sekulow, American Center for law and justice executive director. There are two laws. One is kates law. Kate steinles law, deals with sanctuary cities in particular. The house passed a law during the obama administration, he wasnt going to sign it but this president will. He will sign it. You have to get it through the house and senate. The house is no problem. The senate, the problem it had getting through the 60vote threshold. Will there be eight democrats . Pretty amazing even in the house theyre whipping against both these laws. David is there a political price to pay . Kates law is about punishing criminal illegal aliens he deported come back to our country. David you know what you can do to shame people against this, frankly i dont see any way, just put up pictures of people who have suffered. Beginning with kate steinle. Of course her, the person who killed her is alleged to kill her, lopezsanchez, was in the country illegally, deported five times back to mexico. There were many others. Spencer kovac, killed by illegal immigrant who previously had been he deported four times. Katrina, the names go on and on. Very real problem this would be a deterrent. Means to the individuals once youre out of prison deported back to your country, just coming here illegally you could be in jail minimum 10 up to 25 years in prison. David that is kates law. Then you have sanctuary cities. Right. David with holding federal funds from cities that have sanctuary laws, essentially protect them from federal laws, or they think so. Goes one step past that, what is cool about this law. It allows citizens victims of criminal acts by illegal aliens to sue these cities. Empowers them. David these cities would be hurt two ways. Hurd federal funds and would be sued in ways they cant be sued now. Federal law, we have supremacy clause. That could be litigated. There is already an executive order out there. It is being litigated right now. This would be much stronger with legislation, not just relying on legislation. When it comes to immigration. David bottom line will any democrats vote for this . In the house, yes, that really does remain to be seen. Maybe a couple. Can they get to 8 plus . There will have to be a lot of shaming to get to the 60 vote threshold for cloture. David jay sekulow. Thank you very much. Melissa. Melissa costly retraction for cnn. The giant facing 100 milliondollar lawsuit over a botch the russia story. Is the outlet actively trying to undermine the Trump Administration . Call to arms. Global cyberattack that has World Leaders on edge. Ambassador john bolton is here to respond. When that pain makes simple errands simply unbearable. I hear you. I hear you because my dad struggled with this pain. Make sure your doctor hears you too. So folks, dont wait. Step on up. And talk to your doctor. Because you have places to go. And people who cant wait for you to get there. If you have diabetes and burning, shooting pain in your feet or hands. Step on up and talk to your doctor today. Whoa thats amazing. Hey, im the internet i know a bunch of people who would love that. The internet loves what youre doing. So build a better website in under an hour with. Gocentral from godaddy. Type in your idea. Select from designs tailored just for you and publish your site with just a few clickseven from your. Mobile phone. The internet is waiting start for free today at godaddy. Welcome to holiday inn whether for big meetings or little getaways, there are always smiles ahead at holiday inn. Melissa massive Ransomware Attack striking Companies Across the globe with the hackers behind it demanding payments at affected corporations dont want their Sensitive Information destroyed. Among the companies attacked were merck, mondelez international, Russian Oil Giant Rosneft and cadbury. Nato chief general stoltenberg, that nato could trigger article v mutual defense commitment in response to the attacks. Former ambassador to the u. N. And Fox News Contributor john bolton joins us now. Lets start with the idea that if the russian oil giant was attacked among others, does that tell you anything about who is behind this . Not necessarily. I think in the cyber world as in the room world, the source of an attack is not necessarily obvious. It may be particularly easy to conceal by using methods that are known, for example, to be used by the chinese cyber war departments and pretend that its chinese but i do think the larger issue of hacks in the cyber world amounting potentially to attacks like a conventional military attack is very real and one weve really not done an adequate amount of thinking on to distinguish what is a military attack what is espionage, whats theft, commercial theft, what is just pure vandalism. All of which are important. It depends on what the nature of the attack is how you respond to it. Melissa if they come back and they put forward this article v mutual defense they dont know who they are putting that forward against, right . It would certainly help to know who the attacker was. There are some cases i think are more obvious than others. We know that the baltic republics, estonia, latvia, lithuania, have been subject of cyber intrusions. It is universally believed it comes from russia. Im sure there are others as well. Really by contrast around the world weve seen thousands of attacks on commercial enterprises. I think a lot of them by russia, china, iran, north korea, there are a lot of culprits out there but we need to know more exactly what was intended here and really what the appropriate response ought to be. Melissa what would nato do if they banned together say this is war, well do something about it, what does that mean . I think this goes to an important conceptual point. Take as hypothetical, that is a nato member is the subject of a russian cyberatta

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