Quote, unfit to be the president. Blake burman live at the white house on the war of words. And while most House Republicans voted to fast track tpp, Committee Member lee zeldin of new york did not. Why . When his state exports some 25 billion in goods to tpp nations and tariffs against new york goods would be dropped is lee zeldin against it . Well ask him. Ive got him exclusively live. Plus, donald trump declares numbers on november 1st will declare the outcome of the 2016 election. Not the economy. Not whats going on in syria. Mark bertolini is pulling back on his companys commitment to obamacare even as his companys stock has skyrocketed since the exchanges kicked off. Why is he against it . Aetna chairman and ceo Mark Bertolini with me live. And whos winning the oil war, americas frack e, frackers . A fox business exclusive with cme Group Executive chair and president terry duffy. The dow looking at its longest losing streak in more than a year. Whats going on here . Its down 105 points. What dog days of august . Were less than an hour to the closing bell. Were firing on all cylinders, so youre in the right place. Lets start the countdown. Liz bear claws are out in full force at this hour. Both the nasdaq and the s p are on track for their worst day in over a month. That bear looks a little passive. A little nose, a little runny nose there. Well, look, the claws are out either way because youve got auto and tech stocks petering out, and thats weighing on the industries. Do you own shares of general motor ors . How about ford . Toyota, fiat chrysler, all of them moving lower. Everybody else down more than 4. But which cars were not hot, which cars were hot when it comes to sales . Im going to get you that in just a moment. But if autos are a drag, then apples stock is the 100pound weight on both the s p and the nasdaq. Shares are falling about 1. 5 . Analysts downgraded their rating on apple i love this from a buy to an outperform. Or thats like jumping off a pancake, youre not going that far. [laughter] they say this is due to growth concerns specifically when it comes to smartphone sales, bad enough to hurt apple pulling it down to 104. 50. Oil was pushed into the green in Early Morning trade, but you can see it reversed, it is down 1. 25 . Again due to glut. Those of you who watch me, and im so glad you do, or listen on xm113, you hear me say this over and over, nothing has changed when it comes to oversupply. Oil ended up settling at 39. 51, right now 39. 54 in after hours trade. And talk about sparkling returns, sodastream soaring after the Company Reported profits more than doubled in the Second Quarter. This is the Israeli Company look at it up 18 . It credits rebranding itself as a maker of sparkling water instead of sparkling sodas for its success. But this is the little startup that could. It really pushed keurig out of the publiclytraded market. Unbelievable, what sodastream has done, jumping about 18 to 28. 67. President obama and the Prime Minister be of Singapore Holding a joint News Conference today. The president pushing hard for congressional approval be of the tpp or the transpacific be trade partnership. This is a deal he feels is central and a are important ingredient to his economic and Foreign Policy legacy and for the country. The president reaffirmed tpp trade calling it, quote, for the 21st century, saying it will, quote, reduce tariffs on American Goods and make it easier to sell u. S. Goods overseas. The answer cannot be to back away from trade in the global economy. It is here to stay. Its not possible to cut ourselves off given how integrated our economies are. And trying to pull be up a drawbridge on trade would only hurt us and hurt our workers. So the answer is to make sure that globalization and trade is working for us, not against us. Liz okay, exactly. The president on that exact point is facing these two roadblocks on your screen, donald trump and Hillary Clinton. The trade deal is up against heavy opposition on both sides of the aisle. These candidates feel that it will hurt workers. Fox business blake burman live outside the white house where president obama just wrapped up his News Conference a short while ago. And, blake, when asked by a reporter, president obama did have some harsh words, pretty harsh words toward republican nominee donald trump. Everybodys talking about that. Reporter he did, liz. Woefully unprepared. That is how president obama described donald trump earlier today here at the white house as it relates to the possibility in about six months or so that trump could become the next president of the United States. The president was here, youre right, to discuss tpp, the transpacific partnership. He was here alongside the Prime Minister of sing por. But the very first singapore. But the very first question from a reporter was in light of trumps recent comments about russia, in light of his recent comments about gold star parents, the president was asked whether or not he feels, whether or not he questions, rather, trumps fitness to potentially be the next president of the United States. From there, liz, the president launched into a fiveandahalf minute diatribe against trump. That started like this. Listen. Yes, i think the republican nominee is unfit to serve as president. I said so last week, and he keeps on proving it. Hes woefully unprepared to do this job. Reporter now, the president said while he disagreed with john mccain and mitt romney in past elections, he never felt that they were incapable of becoming the next president. He said with trump, quote, thats not the case here. A bit unusual for trump this afternoon, he has not yet taken to twitter to put out a response. Instead, his campaign did so on his behalf, and in that response they tried to link the president with Hillary Clinton writing, and im quoting here, they have betrayed our security and our workers, and Hillary Clinton has proven herself unfit to serve in any government office. So they were trying to flip that word, unfit, back onto Hillary Clinton. Remarkable words from the president here inside of the white house today about the republican nominee for president , liz. Liz and remarkable that donald trump has not swatted back at this point. Well be watching all of that. Blake, thank you. And to the trade issue, because both donald trump and Hillary Clinton are against tpp. Republican speaker of the house paul ryan reportedly got multiple Standing Ovations after voicing his support for the tpp at a retreat hosted by the republicanleaning Koch Brothers over the weekend. Speaker ryan got strong support from gop donors at that event, but a controversial Election Year vote is fraught with peril. Republican congressman from new york, representative lee zeldin, on how president obama thinks he can possibly get tpp papassed as both a passed as both a lame duck president. You initially voted against fast tracking the tpp last year, correct . Why when your state does about 30 billion in exports to tpp nations . Well, the tpp wasnt yet finalized at that point. It was pretty close to being finalized. I do believe that we need to be setting out trade objectives at the beginning of negotiating as opposed to crafting the negotiating objectives at the very end of negotiating a trade deal. So i believe that the whole process that we as a nation follow in negotiating these deals need to be much more effective. And when analyzing these trade deals, we need to be analyzing them in the framework of is this the best possible deal for the american economy, the American Worker . And i believe that we could have negotiated a better trade deal just like at the same exact time we were watching the president negotiate a terribly flawed deal with iran. And there is a connection that were watching the president come up short in his negotiations. So theres not lack of trust as well. Liz well, let me jump in and quickly talk about some of the points of the tpp in case people are not familiar with it. It is with the u. S. And 11 other nations, japan, vietnam, malaysia, we just did what we called the cyber scroll with all of these nations involved. For example, all tariffs on clothing, textiles would eventually be removed. This works both ways, between both of these countries. Maybe we can put some of these up here. Cheaper access to u. S. For foreign car makers, that would certainly help japanese carmakers. Poultry farmers, currently taxed up to 40 when theyre exporting from the u. S. To other nations. That 40 would be dropped. And, again, new york state does about 30 billion in trade with these nations. Now that you know more about tpp, would you vote for it as many of your compatriots on the republican side of the aisle say they will including Speaker Paul Ryan . Well, i dont support tpp in its current form, and you were or getting to the heart of the economics which is really what these trade deals should be about. And tpp has been called nafta on steroids. And after i read it, i see why its called that. It gets into a whole lot of other topics unrelated to economics, and i think wed be better off if these trade deals were just getting to that negotiation on those items that you discussed. And i also think, you know, there are other topics related to economics that we could do better at. Liz paul ryan said over the weekend reportedly that the Republican Party has been taken over by populists who dont understand the benefits of multinational free trade. He did get Standing Ovations on that. What part of the tpp do you like, congressman zeldin . What part, if fixed, would you feel is enough to get you to vote for it . Well, i think that we need to, we need to trim the tpp down to just dealing with the economics. So with those trade barriers, with all of the reasons why were seeing our jobs leaving our country, were seeing so much more being imported in than exported out. And i think whats most important is simplifying this tpp and getting rid of all of the other topics that have absolutely nothing to do with the economics. And thats important for one. I want to see america keep control of our own sovereignty, over our own companies with regards to liabilities. So that aspect is important. As far as the tariff piece, i think that we can actually do better than what we negotiated in bringing down barriers on both sides of these trade deals. Liz listen, its great to see you, thank you. Well be watching. And barriers down, listen, free trade has been a hallmark of republican thought. Appears to be changing, certainly with donald trump. Congressman lee zeldin, thank you so much. Republican from new york. Thank you. Liz closing bell, were 48 minutes away. If you look at whey the dow is really coming down why the dow is really coming down, you could argue its pfizer, the biggest drag on the dow right now. Todays downturn means a summer slowdown for stocks or just pfizer which beat on both the top and bottom line, but its big crime . It maintained its fullyear guidance. Didnt up it. I mean, whats so bad about that . Well, the market doesnt like it. The dow is down 111 points. The floor show is next. And Discovery Communications on a feeding frenzy as shark watching equals blockbuster results. The Parent Company of Discovery Channel as well as Animal Planet and tlc reporting its earnings doubled in the last quarter, although shark week is a perennial hit, International Expansion was also cited for revenues jumping about 3 . Discovery shares down 11 over the past three months, today up 6, nearly 7 right now. So not entirely squelching out the losses over the past couple of months. Discovery stands at 26. 45. And later coming up, one of the nations Biggest Health care insurers may be pulling back on its obamacare not maybe, it is. Aetna chairman and ceo Mark Bertolini on why he says its time to jettison those health care exchanges, what needs to be done to fix the president s struggling health care system. Countdown is coming right back. [hip hop beat] olympics 2016, let me get you on my level. So you never miss a moment, miss a minute, miss a medal. Why settle when you can have it all . Soccer to wrestling. Track and field to basketball. Fencing to cycling. Diving to balance beam. All you have to sa is, show me, and boom its on the screen from the bottom of the mat, to the couch where you at . Show me the latest medal count xfinitys where its at. Welcome to it all. Comcast nbcuniversal is proud to bring you coverage of the rio olympic games. Hey hows it going, hotcakes . Hotcakes. This place has hotcakes. So why arent they sellg li hotcakes . Thomcast Business Internet and wifi pro, they could be. Just add a customized message to your wifi pro splash page and youll reach your customers where their eyes are already on their devices. Order up. Its more than just wifi, it can help grow your business. You dont see that every day. Introducing wifi pro, wifi that helps grow your business. Comcast business. Built for business. Liz i have a question for you. Are all of you who bought cars out there over the past six years done . You tapped out . Auto sales stalled out in july which could mean we are now seeing the end of the sixyear run of pentup demand which started back in 2009. Because most major automakers came in below expectations for july auto sales. Yeah, ford and General Motors both saw declines, gms Chevy Division saw a drop of more than 5 in sales while fords explorer model saw a 32 22 decline in sales. Fiat chrysler managed to post july gains, nissan saw gain, just less than what analysts were p expecting. Toyota and honda beat expectations. Honda surprised analysts by reporting an increase in sales in large part because crv sales rose 13 , and finally, while volkswagen saw a decline in sales, sales of its tiguan model were up more than 40 . A hot car right now. Lets get right to the floor show, traders at the new york stock exchange, cme group and teddy, what do you drive . I have an 11yearold volvo. No way. [laughter] liz what are you, a berkeley professor . Do i look like a berkeley professor . I dont think so. [laughter] liz thats what all the berkeley professors drove, were involve slows. Let me get to the markets here. The dow is down 112 points, we could see a sevensession losing streak here. Do we read much into this, or is this simply pfizer dragging yet another day down here . I think clearly theyve run out of steam, liz. For whatever reasons. You know, weve got the bulk of the earnings behind us. On balance, they havent been that bad. Normally, the markets do quite well during earnings season. You know, were at the alltime highs most of the popular averages. I just think they got tired, and theres not much positive things to look forward to. The economy has flattened out, no real growth, you know . Its sort of blah. Liz well, june Consumer Spending was up again. You got some momentum there, larry. Three months in a row, this is the best quarter that weve seen when you string april to june together since 2009 for Consumer Spending. Did you buy a car . [laughter] well, you know, i just did buy a car because i had the voces wang passat tdi diesel, the one that is being recalled because the of the diesel scandal. Liz ask so what are you trading up to . I got a Jeep Cherokee overland. Very, very happy with it, and so be it. When it comes to consumer, i think the consumer is another fiveyear story. I mean, with petroleum being as cheap as it is, its going to continue to have that lagging effect which we have seen on the consumer, and thats why a few months ago i recommended those two Consumer Discretionary stocks. I really think thats where the money is. The fear i have though is in the product bivity side of our economy productivity side of our economy. Its just not there, its not growing. So at some point, it will run out because people will run out of money to spend, and wages arent going up enough. We cannot continue to spend. But for the short term its sweet, to continue to ride the stock market as it goes. Liz well, yeah. Alan, he just referenced petroleum, fancy word for oil [laughter] and weve got a reversal. We were up, now were down. Im not sure daytoday machinations really, truly matter. But when youre looking at per gallon of gas, one year ago we were markedly higher. I mean, were at, like, 2. 16 now for average gas leap. Were just gasoline. This is just great for the consumer, and yet our economy is kind of sputtering along. I hope it continues. I hope we see even lower prices in gasoline. Id like to see it back down to 1. 30, 1. 40 a gallon. But for right now i think were getting into an oversold market for crude oil, i dont think we have much more downside left here. I think 3840 is the low of the move, but i dont think were going to get a big pop up either. So im looking at 3845 for the end of the year. Liz look at this, arbob gasoline, 1. 31. This is wholesale, but ive got to know, alan, what kind of car to you drive . [laughter] i drive a gmc arcadia. [laughter] liz thats a gas guzzler. Ah, gas guzzler, right. Its actually pretty good. [laughter] liz i will say, larry, my favorite car ever that i had was a gene grand cherokee. Good. Im going to miss the diesel but, yeah, im happy so far. Liz it was a fake diesel anyway. Good to see all of you. Teddy, larry, alan, nice to have you. Later, look, when you talk about oil and you talk about whos benefiting, its got to be the chica