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tv   Making Money With Charles Payne  FOX Business  June 1, 2018 6:00pm-7:00pm EDT

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maria bartiromo interview on wall street. charles: investors shared a stronger than expected jobs reported. the economy is on fire and i can't wait to give you the details. the fallout from samantha bee's vile comments about ivanka trump. president trump and kim jong-un's right-hand man met at the white house. trump says the denuclearization summit is back on for june 12. this was going to be the delivery of a letter, and it
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ended up being a two-hour conversation with the second most of powerful man in north korea. we'll start a process. i told him today. take your time. we can go fast, we can go slowly. but i think they would like to see something happen. if we can work that out, that would be good. charles: he didn't read the letter then. but he just just announced he has read the letter. this is just a first step. ultimately denuclearization is the ultimate goal. here to discuss, tyron skinner. and beverly hall berg, a district media group president. it was supposed to be a
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five-hour meeting. it went longer than an hour. what do you make of the whole thing and the fact that the process is going on and june 12 is back in play. >> this is what diplomacy looks like on the global level with the hardest issues facing the world. there will be a lot of back and forth. what happened when the president decided to pull out of the talks sending a letter to the north korean leader. it went to a level of work and responsibility taken and diplomatic activity showing the united states meant business. complete verifiable, irreversible disarmament is what the united states is looking for. once the north koreans realize the united states would not show
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up at the summit, they got back on the train and decided to move. charles: in washington, d.c. this is huge news. it seems to me the folks down there should be accustomed to the way president trump negotiates. >> this meeting in and of itself has been a process. what the president was doing is changing expectations. i don't necessarily thinking inappropriately. we are not going to sit down for a couple hours, work it out, and leferg be fine. changing the conversation about what will come out of the meeting is what we saw the president doing which can signal behind the scenes. but at least to get the meeting
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back on, big start and a big day for the president. charles: i think emily made the right point. i feel like they gave us a set of expectations before, talk of nobel peace prizes. a lot of pressure for them to come out with a eureka moment. and the president saying that's not necessarily going to happen. but it would be a major step towards that. >> i'm glad the president showed caution. when you read the language, it seemed to leave the door. >> . that's the way he negotiates and wants to move forward and make deals. you have the president writing a letter and kim jong-un writing a letter back. rightly so we should be cautious about this. we cannot trust kim jong-un.
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he's one of the worst human rights violators of our time. the other side is to see if we can protect our allies. seeing if we can keep peace on the mainland. this is good negotiation on the part of the administration. charles: no one thought the meeting would lost as long as it did. so, too, the press conference afterwards. beforely brought up human rights. what do you think of that? >> we need to press that wholeheartedly as part of this conversation. the lack of human rights, the amount of free killing is a troubling thing. but i think this it part of an apprentice-like episode where theception was on two weeks ago, it was called off. it's back on today. when you look at the history of
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these summits in the past. these are year-long processes. i am worried we are set to meet the north koreans in seven days in singapore. charles: what's the worry? >> conversation is important. but the fact that this president was talking about a nobel peace prize. charles: he mentioned it after it was mentioned in the media. kevin, if they did give up their nukes, it would be a slam dunk for a nobel peace prize. >> i'm not on the nobel prize committee. but that would be a huge step forward for this country and the global stage. charles: president trump when he spoke to reporters talks about sanctions. he mentioned them as being very powerful. then edpulled back and said he didn't want to apply maximum
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pressure. i think he was also playing that for the folks at home. people like kevin who still doubt his negotiating skills, we are on the press pifs an historic meeting. >> i disagree with the last speaker in this specific way. it's not that we are just now this final stretch trying to prepare a summit. this has been going on since the beginning of the trump presidency. north korea was front and center for him day one once he entered the oval office. we had more than six military activities exercises with asian partners. extreme sanctions in the fall of 2017 against north korea. we blocked their energy exports. we set new terms for the session. we brought disarmament to the center of the conversation.
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we brought asian partners in and other international partners against them, some of which expelled north koreans ambassadors and closed embassies. we have been working for more than a year on what's about to happen. i think the president and his team, they have been doing an enormous lift to jettison 20 years of failed north korea policy. charles: the other side of that, emily, after years of the stick, we have seen the carrot. xi talking about the north koreans being a prosperous country. so it feels like the other part of negotiation process has begun as well. >> that speaks to what you were talking about earlier. it's certainly unorthodoxed. he is given the carrot to the extent a lot of people have been
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uncomfortable with the way he presented the carrot to north korea. but so far it's been a successful negotiating process. there will be different levels of what that finish line is, and getting to the ultimate solution. but so far things are going well for him. charles: folks, we have to leave it there. coming up. president trump cracking down on reciprocal trade. we'll be right back.
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union. president trump: they are our allies, but they stake advantage of us economically. i love canada and mexico and the european union. i believe in the word reciprocal. you are going to charge five times, i am going charge five times. in other president has brought it up, and it's going to happen now. charles: we not was a campaign promise, and since then the economy has been booming on all cylinders. the u.s. has long been taken advantage of according to president trump when it comes to trade. he really is not going to stop the pressure. here to discuss, gillian melchoir along with kevin kelly, benchmark's managing partner. we love mexico, we love the
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e.u., we love canada, but they are simply taking advantage of us. i think the irony of what he spoke about. when they say we use tariffs and being mean, theirs are significantly higher than ours. >> these tariffs are going to hurt americans. this is a 25% increase to benefit a special interest. this will hurt americans more than it helps them. i think ultimately you have to answer to the american worker. >> this is just scratching the surface of what the president is going to accomplish. when he's talking about reciprocity and fair trade. he's hitting home with what happened with the lumber prices. canada is protect their dairy and poultry industry. they have always been
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protectionists. even when they went into the tpp. charles: they caused out some special deals for themselves. >> you saw the market rebound because they are not necessarily worried about it. we saw some industries will benefit and some aren't. everyone will come to the table when it comes down to it. canada will need the u.s. as a trading partner. our two largest trading partners are europe as well as china. >> they could do a better job. in your paper, less than two years ago there is a big headline about a chinese billionaire with $2 billion stockpiled. that was targeted to come into this country. mexico had to know $2 billion in aluminum was there.
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>> i think we are asking for complete concession. i don't think the trump administration has been clear on what it wants. i think it is wrong. tariffs are taxes. this will rise the prices of key i puts. it will be something consumers pay for, workers pay for and the economy pays for. charles: understanding that nafta, they are trying too get this thing done. could this be part of a larger negotiating tactic, respect to move a? do you like it the way it is? >> i do. it's been pretty good deal for us. >> here is the problem with nafta. it's before web commerce started happening. it's before the internet even exited. you have a system set up for a
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previous world that no one is living in today. so that's why we need to update what's happening with nafta, especially in regards to the carve-outs protecting certain industries. charles: if we made more -- the spry chain would go back and forth. if a bigger percentage of that was made in this country, wouldn't that create more american jobs? >> many of the people concerned about this issue are also concerned with immigration. we are not going to help with that issue by devastating portions of mexico's economy. i think at the end of the day you can equitable about whether deals are specifically fair. by the many wrong to tax americans to benefit special interests. charles: coming up, the jobs report. it was so strong even the "new york times" in part of it had to admit. they said it was so remarkable
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charles: the may jobs report came in well below consensus. the biggest highlight without a doubt, black unemployment, or employment. not only did the rate see one of the largest monthly declines. it happened as 79,000 black folks returned back to the labor market it was the only racial group that saw an increase in the labor force. and we saw president trump keeping his promises. the kind of jobs to the heartland that i always call dirty fingernail jobs. from january of last year until may of this year, 87,000 mining
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jobs. 388,000 construction jobs. almost 800,000 goods producing dirty fingernail jobs. i think they will make a difference in mid-terms. here to help me break it all down. john burnett. katie frates. this was a number that blew people's minds. now we are at an unemployment rate that's been matched only once in the last 50 years. wages grew more than inflation. but not so much that the federal reserve needs to get involved. >> even these numbers made up for in some cases some under performing numbers from the past two months. i think we pick up our jobs from
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the ground. everyone seems so shocked about how great this news is. everyone can be happy about this. for black unemployment actually. it's good news for every american no matter where you are. it's a great way to start our weekend. charles: i tweeted out the part with the black unemployment and some folks got upset. it's a continuation of obama. but i think it should be celebrated. i feel like it's lifting all ships. earlier this week the federal reserve gave a report card on the economy. employers are not drug testing anymore and they will be hiring convicted felons. we'll have people who had given up on the job market. they never thought they would get a decan't job again and now
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they have a chance to. >> that's the biggest news to our point respect to helping the individual get back on their feet. once the individual can get back on their feet, then you are reconstructing the family. so president trump, the blue collar billionaire president has a blueprint for america starting with everyone. but this carve-out with respect to the black community is huge. it's taking away the victim mentality and giving it opportunity. charles: how do you see it as a black republican? >> who doesn't like jobs and higher wages. he's take care of all collars. blue collar and white collar. charles: what stood out to you. >> we sometimes lose focus and maybe that's why the market
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wasn't higher. we seem to have no memory from day to day. we started off the week staring into the abyss. and we forget how good things are working out. most of of the data points we have been looking at has been extraordinary. 233,000 this late in the cycle is pretty extraordinary. charles: president trump put out a tweet saying the mainstream media lost their minds and it gave them an excuse not to report the news. they are saying maybe he told some buddies on a golf course. they went crazy on this thing with wild speculation. >> i think president trump was doing what he does best which is is -- is rhod -- is rile everyon twitter.
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he was mission accomplished. when these numbers came out it backed up that tweet and it was all good news. charles: people wonder about the next jobs report if he doesn't tweet it out. we'll talk about the double standard in the mainstream media, and one of the more shock examples of it played out this week. president trump calling for the media to take action on something that was very blatant and ugly and directly against his family members. we'll discuss that next. as a control enthusiast,
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charles: fallout from samantha d posner while comments about ivanka trump escalating as a present steps in to call out the double standard in the present tweeting why are they firing to no talent samantha bee for the horrible language used in our low-rated show the total double standard but that's okay. we are running and will be doing so for a long time to come. here to discuss brit mckinley "fox news" contributor. let me start with you on this. in the same weight obviously with rosanne being fired for our to eat, the next day for this to happen is just remarkable but we see a sort of falling out to separate ways. what do you make of that? >> blatant hypocrisy from
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hollywood and the liberal media could rosanne as inappropriate as our comments were immediately she apologized that she regretted it, told trump supporters to not make excuses for our and our show was immediately canceled. samantha bee, status of affected and now we are seeing with "msnbc" with jury read more things are coming out from anti-semitism and nothing is being done so a lot of questions are being asked about why is it okay for conservatives and women particularly be under attack and have no forgiveness but it's not that way on the other side of the coin. charles: we know that this is a tough business particularly live tv, take it from me. in the case of samantha bee apparently that show was taped so within a cancer the. everyone saw it and they said it's going to be great show. no one stepped in from a journalist point of view so tbs bought those comments were pretty good.
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>> i don't know what happened behind the scenes at tbs but i think it's really important to point out i do believe that when you attack one woman you attack all women and we need to make sure that the outrage we have when different people are attacked is consistent but here's where i have a problem with the thought equivalency. something that is vulgar versus something that is racist, the two are not equal and there has to be the ability for people to say that there is a difference between a racist statement and the vulgar statement. i think what samantha bee said even as the comedian was inappropriate. was vile. no one should use that language. ted nugent shouldn't have used it to describe hillary clinton but to say vulgarity and racism are equivalent leads us down a path that is only going to and
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in serious problems for this country. charles: beverly? >> i know the president is calling for tbs to say that samantha can no longer be in our show and that's something the free market will decide whether sponsors will back out. we have party scene with the samantha bee show an whether people will continue to watch. on the hypocrisy angle samantha bee just received an award from the television academy for our work on the #me too movement yet she called another successful woman one of the worst things you can call another female. we want to talk about hypocrisy i would say from the women's woman who wants to attack sarah sanders for melania trump or nikki haley or other conservative women. because of the stances they take on a policy issue the hypocrisy is the women's movement says not only you can't be recognized for your achievements as a conservative woman that you must be public as well and that's
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where the hypocrisy really is. charles: bread i know you want to get in there. >> i would would disagree a little bit art obviously should not be tolerated but to use the. >> word as a woman in the public eye i'm sure everyone on the panel that word has been thrown at me several times and it's vile and disgusting and it opens the road for misogyny. rosanne show and again i'm not condoning our remarks in any fashion but $45 million in advertising and drops it like that immediately. i take seriously what samantha bee says. the freedom of speech issue and the people don't like it they can turn the channel but i think they deserve the condemnation we are seeing. charles: i was offended when bilmark use the n word because he got a free pass because he's a liberal. obviously he couldn't be racist. i've like to see that toss in the garbage can as well. >> i absolutely agree and i certainly have never given bill
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maher a free pass when it comes to the n word or when it comes to himself having used this word about conservative women. none of it should be acceptable. from a business perspective charles i think you have to look at the two factors involved here abc, disney owned company is a family-oriented network. tbs is now in the late-night comedy business. those are two different format so i understand because of the need for some people on the right to jump to what about-ism trying to. -- compare these things false equivalencies lead us into dangerous territory. i think we should be smart enough to do critical thinking and be divisive to. charles: keith olbermann in your theory there but ladies i love you all. thank you very much and have a great weekend. see you soon. on wall street our markets are
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booming big-time jobs growing. we are going to talk about where the market goes from here because it still hasn't broke and now. we will be right back. handshake, the upper hander with a double palm grab. who has the upper hand now? start winning today. book now at money managers are pretty much the same. all but while some push high commission investment products, fisher investments avoids them. some advisers have hidden and layered fees. fisher investments never does. and while some advisers are happy to earn commissions from you whether you do well or not, fisher investments fees are structured so we do better when you do better.
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charles: facebook announced its shutting down the controversial session putting an end to political bias. facebook says the section will be phased out next week.
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charles: don't look now folks at the current quarter we are in right now the gross domestic product is 4.8% a week ago was 4% so was one month ago the biggest quarter of economic growth this nation is seen in years. i think it's going to happen but what does it mean for the market? we have had an amazing earning season and incredible manufacturing data and yet the major industries are locked in the trading ring.
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melissa you have been warning about this saying you know what contain your excitement because this market just hasn't been able to break out and is that a yellow flag for you? is that some sort of negative like that it hasn't? >> it's a red flag to cousin again not that we are not strong but we could dip down before we get over the area. he said a good word rake out. i will tell you this right now after today's rally after today's positive report what we must do 100% next week we have to do it. we are too close not to do it now. if we don't run up to and from my crazy i don't think how we will do it this summer. charles: i think she is a great point david. we need to break out at some point or you will see the market give up. >> there's a lot of action going
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on and to her point she is right we don't seem to have the memory from day-to-day and we forget everything that happened today and there will be some kind of crisis. charles: forget the consumer confidence numbers, forget facebook. >> europe could announce something because the next election in europe will be a referendum over the-year-old and we will panic over that. charles: how long can we have this dual existence were fundamental exists with wild speculation and anxiety? real-world things are being mitigated by things that may or may not happen. >> to your point the momentum to break out but we see fundamental momentum and that's a very powerful report and very strong and in the end we will see breakouts in materials and other industries that people forget. charles: i like what you're saying because i've had a couple of good weeks. some of my stock has done really
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well and focusing on the big tech names break out like broke out at five bucks a day. i like the consumer. lululemon was on my list of breakouts two weeks ago. these are trends where people are making big-time money. >> they are but here's the thing. tech tech is leading the way once again today. facebook and apple are the highest but i'm telling you it's not 2015. it's not 2017. those stocks lifted and everything went with them. >> other industries are right there with them. >> it's not going to happen. without the banks. we are nowhere near the highs. here are the highest in here is where we are trading today. charles: i don't know that we need the banks. we did well last or without the
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banks. >> they certainly have to do well. charles: let's talk about other catalysts because now we have the most important data of any month of jobs report in every time that happens we going gone back into a low and wait for the next jobs report. >> focusing on earnings in the next month and we will see what analysts are starting to say. every data point is important. charles: i kind of find that sometimes these major bottoms and these breakouts can be very stealthy and not have a catalysts per se and i'm looking at that and the dow gaining 25,000 is a huge signal. >> i want to see the 26,000. i want to see a huge -- . >> you have hit a new high when you break up to 26,000. people need to take your focus off the index and start looking at the individual.
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charles: we should point out the russell 2000 has been a monster. >> the nasdaq two. charles: thank you both very much for new reports as federal investigators are looking into whether andrew mccabe intentionally lied about hillary clinton's e-mail server probe and if he did it could mean prison time for the former fbi deputy. we will discuss it, next. semi-annual sale with savings on the new sleep number 360 smart bed. it senses and automatically adjusts on both sides, for effortless comfort. don't miss the final days of our semi-annual sale! save up to $700 on sleep number 360 smart beds. ends sunday.
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charles: according to the "washington post" former and vi director james comey was recently questioned by federal prosecutors as part of a probe into whether andrew mccabe has for me -- former deputy committed a crime by liked federally just. became was fired after the
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justice department said he wasn't forthcoming to investigators about the program to hillary clinton's e-mail server. if mccabe committed a crime by lying he could be facing years in prison. here to help us break it down david bruno former prosecutor and trial attorney. all right david walk us through this because i know already that action has been taken against mccabe by his own agency denied him his pension at least temporarily and that to me seems add something to the point that perhaps could this be a crime? >> yes, i do believe equals the inspector general issued a report and that was one of the main reasons he was fired. in that report he said mccabe lied four times wants to come me, wants to the fbi in two times in the inspector general's office. three of them were under oath so
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that was thorough to the department of justice and this is the investigation were talking about now. this case is not just about call me. there are many witnesses here. one of the statements where he lied under oath is reported to the inspector general's office. he has some serious problems charles. charles: john. >> look at the person lies one time you can possibly brush it away is a misunderstanding but four times? it's intentional. charles: what was the intent there? it was so overt. what was he trying to achieve? >> he was playing politics instead of upholding the law. >> i can answer that as well. initially there's a "wall street journal report" that came out in a sober 23rd about -- seven days later there was another report coming out saying that mccabe was going to stop the clinton foundation investigation.
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to get out in front of that he had two people reach out to "the wall street journal" to put out his spin which was there was a prior conversation where he said no we are not stopping this investigation. with all the weak talk it was a priority for the attorney general's office so when comey comes to him the next day after "the wall street journal" article it was a priority. charles: she was an extraordinary longshot yet she was able to raise a huge chunk of money. >> lies and conflicts of interest. the fbi justice department did their investigation and the inspector general also believe that he lied and betrayed the trust of the public. the next thing to do is charge him. america is watching. charles: david how long but the process take it for runs in a corset you say you believe it's going.
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>> the attorney general's office would decide the charge. for the under a chair statement circuit the three perjury charges. if he is charged he goes in front of a magistrate and there'll be bail determined that thereafter there will be a process arraignment, grand jury and if he does not accept responsibility, a trial. that's the process. >> how can we charged fled and not charge a mccabe? charles: we know there was so much animosity against our donald trump's a candidate we know that their e-mails and other things. could this blow this open even further? could he become someone who cooperates and maybe helped -- work at this go? he could become a pawn. >> you are right. they always have an incentive to cooperate. let's not forget the lisa page
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text message that talks about a meeting in auntie's office. he has denied that. he is denied the insurance policy but can you imagine if these charge in his value all information in that investigation? charles: as they say the plot thickens. appreciate it. great to have you back. a top pentagon officials issuing a warning as tensions flare in the western pacific. we are talking about man-made chinese islands that are now militarized. we will be right back. today, we're renewing our commitment to you. fixing what went wrong. and ending product sales goals for branch bankers. so we can focus on your satisfaction. it's a new day at wells fargo.
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but it's a lot like our first day. wells fargo. established 1852. re-established 2018. .. they appear out of nowhere.
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my secret visitors. hallucinations and delusions. the unknown parts of living with parkinson's. what plots they unfold, but only in my mind. over 50% of people with parkinson's will experience hallucinations or delusions during the course of their disease. if your loved one is experiencing these symptoms, talk to your parkinson's specialist. there are treatment options that can help. my visitors should be the ones i want to see. charles: marine corps general mckenzie says the u.s. has a lot of experience in the western pacific taking down small islands. this comes after china
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dispatched two warships to confront vessels traveling near the man made islands. joining me, former joint special operations task force. we have been caught up in this whole negotiations with north korea, china on trade. meanwhile we know the belligerence of china that began under the last administration. the neighbors say they have imperialistic ambitions. >> this was a huge issue the previous administration was dealing with. china seems to be taking advantage of the fact that we are looking in other directions. they are trying to step in,
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sneak around, thinking we don't do much about it. charles: when you hear a high-ranking military official talk about our success, we are talk world war ii. but all, those places. this might be different. china now poses a bigger threat every single year, don't they? >> they do. i think for all the left's talk about how the world is becoming more chaotic, this is the only way to speak to powers like china is peace through strength. we are recalibrating that loss. the last administration talked about an i happen pivot that never happened. the man made island don't happen overnight. they are landing nuclear capable
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airplanes that can hit asia. we are trying to rebalance a loss of power america had over the last 8 years before president trump, and now we are recalibrating a presence for taiwan, for vietnam, indonesia, many of the countries we had abandoned, we are trying to push china back. charles: as part of the trade negotiations, china is trying to carve out the dominance zuhdi is talking about. you guys have got to pull back, let us have the south pacific, let us have this region. it's naturally ours, we'll be the dominant force anyway. >> that's the way china would like for it to play out. they had a posture where they
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expected us for the last decade to sit back. now we are at a point where we have a president that doesn't play by the rules they have been used to. they are thinking the north korea situation might be the opportunity for them to have a little leverage. i don't see it quite that way. admiral harris says it will be a challenge coming in. charles: we know president trump was aggravated about the second meeting president xi had with kim jong-un. and they unveiled a aircraft that is consist between the their goals and vision. >> it's not coincidence that our generals and admirals are making comments about our ability to do what we did with the japanese in world war ii. we are make the chinese know
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they may have helped the north koreans come to the table. but we are not going to be bead holding to them and let go of our balance in the region. that's very important as we approach. lou: good evening. our top stories. president trump says the singapore summit is on after hosting north korea's top diplomat at the white house. president trump says parole progress is being made. but the president cautions everyone, that june 12 sing more summit could be only the first of many meetings to be cold between the two leaders. >> they want it. we think it' important. and we would be making a mistake if we didn't have it. we'll have a relationship and it will start on


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