Transcripts For FBC After The Bell 20170814 : vimarsana.com

FBC After The Bell August 14, 2017

The kkk, neonazis, White Supremacists other hate groups repugnant to everything we hold dear as americans. Melissa seems pretty definitive but is it enough to silence critics from both sides of the aisle . David no. Melissa who demanded this tough talk, from the president since saturday. We have more on all of that. An update from the congressman representing charlottesville, that is tom garrett. Plus the president also just announcing measures to protect u. S. Innovation and ideas from threatby china. New details coming from the white house. David were awaiting a list press briefing any moment from the Charlottesville Police. New details from saturdays attack. Well bring you that live when it happens. Meantime the dow surging ahead for the second straight day, led higher by shares of visa, apple, microsoft, goldman sachs. Lets go straight to lori rothman on the floor of the new york stock exchange. Lori, with all the troubles in the world, domestically of any concern at all to the traders . Always lurking in the background but i think, david, fair to say that those tensions with north korea that really came to the forefront last week were pushed to the backburner today especially as investors considered future of financials. Financials led this market. Ones leading sectors so far this year. The trump agenda pushing for banking and financial deregulation starts to get traction. Look at performance of some of the nations largest banks. Bank of america up two and 1 3 . Morgan stanley up 1. 8 . Wells fargo and citigroup up better than 1 1 2 each. Look at the vix this is risk on day. The fear is lower in the last two trading sessions. Down nearly 20 . Investors feeling very optimistic, confident, bullish on u. S. Equities. Look at story stocks now. The amazon war, amazon taking over u. S. Retail. Look at this. Target today, target was up 1. 25 as it announces a same day delivery project that theyre experimenting with at stores here in new york city to go headtohead with amazon which shares were up in broadly strong market today, by over 1 1 2 . You know, amazon is kind of cornered the market getting you your stuff pretty quickly. Target is taking a page out of amazons place book. Well see what happens. David thanks, lori. Melissa gold snapping a threeday winning streak as tensions seemed to ease a bit between the u. S. And north korea falling 3 1 2 dollars an ounce to end at 1284. Here is another look at oil ending at threeweek lowdown 2 1 2 . On the heels of a government report showing expectations for shale output to rise this month. Look at that. Good, good. Lets hope it getting a little cheaper at the pump. Great day on wall street, investors fears about north korea starting to fade a little bit. Steve cortes, spokesman for hispanic 100, former advisor to the trump campaign, fox news contributor. Lenore hawkins chief researcher at thematic can research. In Previous Administration market was pumped up by air with the Federal Reserve members blowing hot air. That made investors happen. Seems to be pumped up by real bottom line figures. That is a very different kind of market, no . David, so glad you asked the question because you are so correct. Previously we had central bank, almost a sugar high, right . Central bank easing around the world helping markets. Now we have the opposite. Central banks are normalizing, at least ours is, the fed is, yet we see the market going higher. Why . Because it believes in real growth. Corporate earnings are growing. Personals are growing not as much as they need to but theyre growing. David right. There is real optimism about tangible real growth on the street, not just the sugar high of central banks. David lenore, it is not just wall street. The journal had a piece about supposedly permanently unemployed, people out of work for 10 years. One guy out of work since 2008. He is back at work today. A lot of people who had given up trying to find a job is back. Main street is well, could do a lot better but it is doing better and thats a good thing. Doing better, for example we look at jobs, since the beginning of the year we had fulltime jobs decrease. Job gains have really been in parttime jobs and when we look at the stock market, yes, were seeing move up to higher highs, but really off a handful of stocks and this quarter we saw something very unusual where we saw the majority of Companies Reporting beat, beat well the expectations for earnings. The average stock price actually got hurt as they beat. Now that is something you dont normally see, right, when you do well. Normally the stock price is rewarded. Only two times weve seen this peak in 2000 and peak in 2007. Something to Pay Attention to. David interesting points. Melissa back in washington, President Trump is ramping up pressure on chinas trade practices. Blake burman is live at the white house with more. Blake. Reporter President Trump signed a order to cast a specific eye on trade policies. The specific point of contention here is chinas theft of intellectual property. Ambassador lighthiser, you are empowered to consider all available options at your disposal. We will safeguard the copyrights, patents, trademarks, trade secrets and other intellectual property that is so vital to our security and to our prosperity. Reporter this opens the door here for the Trump Administration at some point down the line to potentially invoke a part of the 1974 trade act that could at some point lead to negotiations or possibly even tariffs. The top democrat here in washington in the Senate Chuck Schumer was wholly unimpressed with this those. He sent out a statement a little while ago reads as following, quote, to make announce mane theyre going to decide whether to have an investigation on chinas welldocumented theft of our intellectual property is another signal to china it is okay to keep stealing, end quote. However the chinese certainly taken notice. A state media outlet said this could quote, poison the relationship between the u. S. And china. Melissa, by the way here at the white house right now the National Economic council is meeting with the president. That includes the trade representative, i am told on top of the agenda there, china, trade and of course tax reform. Melissa, back to you. Melissa please, tax reform, this is what we care about blake, if we havent mentioned to you. Reporter you got it. Melissa steve and lenore are with us. When we talk about china, trade policy or intellectual property i think this is tied to north korea. That is what it was in the beginning. Another way of putting pressure on china where they care about it, so they are more helpful than they have been with the situation in north korea. Am i reading that correctly, or do you think im nuts . I think that is part of it, melissa of course. But it is bigger than that even. We have near term problems with north korea but we have longterm problems with china. Forever, we have treated china, certainly sips the year 2000, by the way as republican i will put as much blame on the Bush Administration as i would on the obama administration. We have treated china as though we are equal trading partners, when it is nothing of the sort. We have given them the benefit of the doubt on every trading aspect while they have willfully, knowingly on wholesale basis utterly stolen our intellectual property. So im so proud of President Trump to say enough. This isnt real trade. It is not free trade. It is a theft of prosperity from main street to china and we had enough of it. Melissa lenore what is your take . Craze ski that we allow any theft intellectual or otherwise. We be careful not to shoot ourself in the foot. We when fit from trade. Importing goods that are less expensive and benefit from their exports of we have a trade surplus when it comes to agricultural products. Interesting. David back to the situation in charlottesville. There is a business hook to this story. A prominent africanamerican business leading is quitting President Trumps Manufacturing Council in wake of the events in charlottesville. Kenneth frazier, ceo of merck, as a matter of personal conscience i feel a responsibility to take a stand against into recognize and extremism. The president , saying at that now that Ken Frazier Merck farm that resigned from president s Manufacturing Council he will have time to lower ripoff drug prices. My goodness. David steve, on one hand you can appreciate personal conscience on this, he is not just doing it himself. He is taking the whole company and all shareholders with him. David, listen, i really believe this is the height of hypocrisy. This is what we see too much in america, whether china, obamacare. There is crony capitalist system that exists for its own selfaggrandizement. Companies like merck, big pharma has done wonderfully under obamacare. You know who hasnt . Patients and doctors. For him to take the moral high ground and say, im going to take a stand against President Trump who is trying his damnest to break up obamacare and reempower the American People is ludicrous. On top of that, president today could to the have been more clear in his denuon syization of racism in every form. David he was, but some people say couple days late. Pharmaceutical companies depend tremendously under government by medicare, medicaid, va, you name it. On the other hand the big question for me, an individual because of his personal conscience should be able to guide thousands if not millions of stockholders who no longer have a seat at table in the white house . Well, and on that if he hadnt resigned, did that mean trump was going to allow unfair pricing practices . Is it just merck ceo is on there . To me i found that a very strange tweet, because he is not backing me up and saying i didnt say the right thing, now i will go after pharma. David you see what im saying . Is it conceivable one person right of personal conscience to take a company, if you feel that way, resign, get rid of your multimilliondollar salary give it to somebody else, but the company deserves a seat at the table. They have one now. Or they used to have one. They dont because of one persons personal conscience. Absolutely but i think it gets really complicated because youre dealing with a president who does have rather high disapproval ratings and rather low approval ratings. It gets very complicated when topics of this come up so polarizing as a ceo. David i dont know. I want to make money period. As a stockholder i want to make money. Steve, lenore, thank you very much. Good stuff. Appreciate it. Melissa. Melissa were still awaiting a Live Press Briefing any moment from the Charlottesville Police with new details from saturday essential horrible attack, well bring you that as soon as it begins. David al qaeda calling on followers to cause great destruction to the western economy in the transportation sector. The terror group is providing instructions. You wont believe what theyre talking about in a disturbing report coming up. Melissa the president condemning hate groups by name in the aftermath after the deadly car attack in charlottesville. Is it too little too late for some conservatives. David as were learning new details on the suspect behind the wheel of that deadly plowing into the group of pedestrians there. Were taking a hard look at possible motives and whether james fields, the man on the left, acted alone. A live update from charlottesville, and the congressman representing that district, tom garrett, will be joining us next. To anyone who acted criminally in this weekends racist violence, you will be held fully accountable. Justice will be delivered. When we breathe in allergens, our bodies react by overproducing 6 key inflammatory substances that cause our symptoms. Flonase helps block 6. Most allergy pills only block one and 6 is greater than 1. With more complete relief you can enjoy every beautiful moment to the fullest. Flonase. 6 is greater than 1 changes everything. Melissa were awaiting a Live Press Briefing any moment from the Charlottesville Police. Well go to fox news ellison basher with more and what we can expect from the charlotte courthouse and what is coming up. Ellison . Reporter the suspect made first appearance before the judge and was denied bond. That could be revisited down the road. The judge recommended he could have a public defender, because the public defender could not represent the suspect, james fields, jr. , he had a relative injured in this incident. Were waiting to hear from the police chief later today. This is the first time he has taken questions. We expect to hear a lot from people asking about the response. We heard a lot of people in community criticize the city and polices response to curtail some of this violence as it started breaking out on saturday but let me tell you a little bit where i am right now. This is Fourth Street where the car crash occurred injured 19 people, left one person dead two days ago, this area was covered and surrounded with police tape. Now there are flowers. There is teddy bears. There are notes, some of them written on pieces of paper. Some of them in chalk on the ground here. Most of them mention Heather Heyer, the 32yearold that was killed after police say that man, the suspect, james fields, jr. , intentionally drove his car into a crowd of people marching against the white supremacist groups that were here in charlottesville. Fields is charged with seconddegree murder. The 20yearold as i said earlier made the first appearance before a judge this morning. Fields actually could face more charges because the department of justice and fbi have opened up an investigation of their own civil rights investigation. After days of criticism for what some viewed as a weak response from President Trump in regards to this attack, he condemned White Supremacy this afternoon. We condemn in the strongest possible terms this egregious display of hatred, bigotry and violence. Friends of the woman killed, Heather Heyer say they were not part of any official group but they live in charlottesville, and they wanted to speak out against these groups that had come to their town, in their words, preach hate. They said they felt like as citizens they needed to do something. They were completely peaceful, when they heard the car the doll challenger come screeching down this way. Melissa ellisons thank you. David joining me now by phone, congressman tom garrett. Republican congressman from virginia. His district represents charlottesville. Our condolences, congressman, it must be an awful day. Im wondering if the situation is still tense. Im happy that it is not. I spent the day in charlottesville. I left a meeting with mayor signer. It is calm. A lot of people are having a difficult time believing this sort of hatred was visited upon this community but, i guess the good news it took recruiting across the entire nation to find enough people who were bigoted hate mongers to descend upon this bucolic community here. They have gone home. The bad news theyre everywhere. What i want to do, we need to focus on commonality. David im wondering if all the protesters were outsiders . I know our own Doug Mckelway who was there at the time, saw people from both sides who had been bused in. Was anybody at either side of this rally local . No, there were unfortunately local elements. It is, i mean unfortunately this is a pox that knows no geographical boundary. What was sort of mindnumbing to me, this number of hatefilled people could get together in concentration as large as it was. Good news there are 323 Million People in america and 322,999,000 would judge people not based on color of their skin but content of their character. That is what i spoke about with the mayor today. Soon to criticize Law Enforcement. They would stick between themselves and all that would destroy america and what it stands for. We wholeheartedly agree on the central premise that is america, that were all created equal. We should judge people on content of their character, not color of their skin. Instead of both sides trying to score political points right now, we need to tone down the rhetoric and focus what brings us together. David couldnt agree with you more. The mother of the victim, exactly to your point, Heather Heyer was the victim, her mother thanked President Trump for denunciations of the attacks, ones he spoke of today. She said, thank you President Trump for words of comfort, for denouncing those who promote violence and hatred. Do you think this will end on President Trumps reaction to what happened . No, it wont. And that is the tragedy. I made the miscalculation of sitting down with one of the fellows who was responsible for organizing thing before i had any idea he was bigoted hate monger. People on internet are calling me and how horrible i am. I know who i am. I know who this nation is. I will lock arms with everyone who is agreement were above judging individuals based on a character trait that they cant control and that we need to aspire to the greatest, best good of this country as outlined by jefferson and dr. King. This need to be opportunity to come together. I want to say this. I pardon me for throwing a partisan barb. David go ahead. When the Vice President of the United States joe biden says and i quote, they want to put yall back in chains, dont be surprised when people take a militant tact. That we need to change the rhetoric on both sides of the aisle. People need to apologize for comments like that and not make them. We need to start taking each other at face value. Sit down with our neighbors of different opinions and understand that theyre human beings. And that there are fringe elements that would seek to d

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