tv Countdown to the Closing Bell With Liz Claman FOX Business July 13, 2018 3:00pm-4:00pm EDT
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jefferson awards foundation lead 360. it is an on-line contest where young people submit their ideas to solve problems, problems that they're really passionate about, and the girls won. and they now have their project activated nationwide. so congratulations to them. liz, over to you. >> great news. the dow is up above 25,000. we also folks have this breaking news, the president is departing the airport moments ago. he's actually a little bit late. he was supposed to leave earlier, but he's now on his way. he's heading to scotland where he will spend the weekend after a momentous four days of meeting with global leaders and english royalty. earlier this afternoon, he and the first lady departed windsor castle after tea and sandwiches with queen elizabeth. we're presuming it was a pretty calm and civilized get to know you afternoon. while that was happening, protesters followed the american president's every move. including the interview he had
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granted last night and then attempted to walk back today in which he had criticized uk prime minister's may's brexit approach. blake will join us live but so will a british parliament member. we will ask her about this brouhaha for the interview he had given the sun newspaper yesterday. president trump's face-to-face with russia's putin just two and a half days away now. and this bombshell coming in the last couple of hours, deputy attorney general rod rose rosenstein reveal iing 12 russi intel officers charged with conspiring. bill browder is here with reaction to that. trust us he won't be surprised but why he says president trump has to tell not ask president
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putin about election meddling. plus, last night charlie gasparino caught up with the at&t chairman and ceo who told charlie he's not that worried that the justice department officially announced as charlie said they would that the doj will continue to fight his merger with time warner. now the ratings agencies are sounding an alarm. charlie just landed. he's back from idaho. as soon as he deplanes, we will get him on the phone as at&t stock is falling. prid the -- friday the 13th not so terribly scary, the markets are mixed but they are headed for weekly wins. put away your 13th whatever they are superstitions. come hang out with us. let's start the countdown to the closing bell. breaking news, crude oil prices have paired the gains
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they were seeing earlier. that's why we've got an intraday chart on your screen. you see the spike just at the close. well, now you can see we've seen a fall. those gains while still to the upside by just 2/3 of a percent have kind of disappeared following a report that the white house is now considering a sale of oil from the strategic petroleum reserve. you know, we call it the spro. it is a huge reserve of oil for emergencies. and presidents tend to sometimes release the oil when prices spike too high or there is a shortage of some sort. crude oil settling about 1% higher just about $71 a barrel. now you can see it is at $70.83. we'll be keeping an eye on that and the stocks involved. on wall street, look at this, the dow has climbed back above 25,000, right now with about 57 minutes left to trade for the week. all three major indices are solidly on track to end in the green, even though the nasdaq is kind of flirting with positive and negative territory. so unless something markedly
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changes in the next near hour, this will be the best week for the dow at least out of the last five sessions -- five weeks as it looks to close above that 25,000 benchmark for the first time since june 15th. right now we're at 25,028 points. investors in part trading off u.s. bank earnings. did you see jp morgan? they came out this morning, had a great earnings report, beat expectations with both revenue and earnings. the stock is down, but they posted a 13% increase in trading revenue. we had mixed results for citigroup. they beat on earnings per share, but they missed on revenue. that i understand more as to why that stock is down nearly 2%. and then wells fargo, down about 1/2%. apparently still dealing with the fallout from the fake account scandal. remember their employees were setting up millions of fake accounts and not telling the account holders. the bank missed on both revenue and earnings per share. they also took a hit from a 481 million dollars tax related charge. these three names, along with the rest of the financial
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sector, mostly lower today ahead of a whole slew of earnings coming up next week. of the 23 financial names in the s&p that will be reporting, you may own some of these, 19 are in negative territory at this hour. so regent, sun trust, bank of america, we showed you m and t bank corporation, bb&t all lower. netflix is one of the worst performers in the s&p 500. you don't often see that. it is selling off for a second straight day. down about 33/4% right now. -- 3 and 3/4 percent right now after analysts warned the company could fall short of its subscriber numbers when it reports second quarter results on monday. this follows ubs's downgrading of the stock yesterday. you have two days of pretty heavy selling. volume is not that heavy during the summer. this could be a nice entry point depending on how you look at things if you have been dying to get into netflix. that's what the analysts are saying. the tight grip on china zte, the
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big technological phone maker is loosening. the commerce department here in the u.s. has lifted that ban on u.s. suppliers. remember they were told they cannot sell their products to the telecom giant which was doing business with iran against the sanction rules. let's check and see what we call the zte ecosystem names are reacting to the news. everybody is kind of down today. we do have holdings up 1 and 1/4%. president trump we mentioned departed the airport moments ago heading to scotland. he will spend a weekend playing golf at his resort. slightly late because he saturday down with an interview with piers morgan. now he's on his way. of course we're looking at what happened with prime minister may in britain. president trump's message to the u.k., quote, and this was a final message because it completely changed. just make sure we can trade together. that's all that matters. we've got a live report from london with fox business's blake burman to start. blake? >> hi, there, liz, you are
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right, it did change. the president as he got here to the u.k. yesterday afternoon gave an interview to the sun newspaper here in which he was very very critical of teresa may and the new softer brexit approach. those two ended up meeting for the first time after those comments got published earlier today at the prime minister's countryside resort, countryside home rather. there was a bilateral meeting between the two sides and the president afterwards in a news conference tried to back off that a little bit saying that he supports the prime minister. listen here to the president from earlier this morning. >> i said very good things about her. i didn't think they put it in. but that's all right. they didn't put it in the headline. i wish they put that in the headline. that's one of those things. she's a total professional. when i saw her this morning i said i want to apologize because i said such good things about you. she said don't worry it is only the press. i thought that was very professional. >> so those two just tried to brush it off, sort of sweep it to the side, down play it a little.
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one of the things that the president also said in that sun interview is that if theresa may keeps on going forward with her plan, then there may not be a bilateral trade deal between the u.s. and the u.k., but the president today pulled a 180 saying that is exactly what the two sides hope to accomplish. >> whatever you do is okay with me. that's your decision. whatever you're going to do is okay with us. just make sure we can trade together. that's all that matters. the united states looks forward to finalizing a great bilateral trade agreement with the united kingdom. >> now, as those two were holding that news conference, protesters took to the streets here in the city center of london. the president actually never made it inside of london here during those protests. the events were on the outskirts out in the countryside. we were in the middle of them liz for a handful of hours, they were non-violent, vocal, thousands of people, all for the most part against the president, but the good news with this as i
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mentioned, non-violent for the many many hours that these protests took place. president trump is aboard air force one right now in the air over to scotland. he will head to his course in turnberry, i'm guessing he will probably bring out the sticks as you know liz that is one of the best courses not just in europe but all over the world. also gives him a chance to prepare a bit for the big summit on monday with vladimir putin. >> scotland, gorgeous territory, blake, thank you very much. i want to show you the front page of the british tabloid the sun that blake was referencing. president trump told the paper last night after his big meetings that he had inserted himself into brexit, saying he told prime minister theresa may how to do brexit but that she quote wrecked it and if her plan to exit the eu kept trade, then that would be a problem. that would, quote, kill a bilateral trade deal with the u.s. today as you saw after much international outrage, the president walked back those comments, calling them first
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fake news, but remember, he gave it to a pretty conservative newspaper that is rupert murdoch owned, rupert murdoch is the head of 21st century fox the parent of this network. and president trump said whatever the prime minister wants to do with brexit is okay with me. let us bring in labour party member who pushed for brexit during the referendum and is a member of the british parliament. welcome, do tell, how are the british absorbing first the president's interview in the sun, by the way a rupert murdoch owned paper and now his reversal during which he lavished pray on prime minister may? -- lavished praise on prime minister may? >> we have this white paper produced by the government going into great detail on how we will continue our negotiations. you know, we voted to leave over two years ago and this has taken all this time to get to this stage where we're now into details -- or will be in detailed negotiations with the
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eu. i think what trump said in the newspaper he probably meant. i think there would be a lot of people who voted to leave would share his concerns that perhaps if we go down in detail the way the white paper implies, it would make it extremely difficult to have independent free trade deals with other countries. if we're going to be too tied in still with the 27 other european union countries, but i think what happened was that after he had had his discussion with the prime minister, she obviously -- because she told parliament yesterday of course that this wouldn't preclude us making independent trade deals, and i think she's obviously persuaded him perhaps that this is still possible. it is hugely important. there's no point in leaving the european union if we don't end up as an independent country able to make those trade deals with the rest of the world, because the eu is so slow and bureaucratic.
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they still haven't got a trade deal within there. they took a very long time to get the trade deal with canada. and that was one of the really important reasons amongst others that the british people voted to leave the european union two years ago. >> we have a lot o companies, ceos watching right now, businesses who like to do trade with both the u.k. and the eu, explain to them why that would somehow preclude if, for example, the soft brexit enabled trade deals with the european union still, with the u.k., that that somehow kills any chance with a bilateral deal with the united states? >> what the eu would be wanting us to do would be to sign up to all their regulations that we already of course are similar at the moment, obviously being a member, but when we leave, we want to be able to have the right to be able change things if we need to, and we're not members of the eu, so we would become a rule taker and still having to comply with everything
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the eu said. the big corporations may want that, the multinationals quite like that, but the small businesses, we have so many thousands and thousands of businesses in the united kingdom that don't do any trade with the european union and yesterday they are tied into all these details of having to do exactly and follow the rules of the european union. so i think what we want to be able to do is like what the rest of the world does, not -- if you are not in the eu, you operate under world trade organization rules. you make your own agreements. you decide the kind of trade deal you want and you agree to regulations. we don't want to still be tied in with the eu. theresa may has said we won't be. we're going to make sure that doesn't happen, because otherwise we won't be able to reach out and have that really good trade deal with the united states. >> madame, before we go, the president will head after this weekend in scotland to meet with russian president vladimir putin
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who there is blatant evidence according to the british that putin was behind the poisoning with a nerve agent of british nationals. he murdered people on british soil. and of course former soviet spy who was living in england, but then just a week or two ago, two more british nationals came into contact with what was left of this nerve agent and died. what tone do you hope the president takes with vladimir putin? >> well, we don't know the details of the very latest incident. there's been some new developments on that today about having found something in the home of the person who unfortunately died, but i think it was very clear that there was unanimity across the world really to ensure that the russian government realized that we weren't prepared to put up with this kind of thing happening not just on british soil but anywhere in the world, and i'm sure -- i hope that president trump will actually make it very clear that we want to get to the bottom of this,
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and i want to make sure that putin who has just had a very successful world cup going on there, realizes that despite that very successful world cup and a lot of our british english supporters were right there and had a wonderful time, that we are still not prepared to go back to totally normal relations with russia until we get to the bottom of what happened. >> well, good luck with that. we hope so too. it's wonderful to have you on the program. >> thank you. >> thank you very much. kate of course a member of parliament. another big meeting for the president closing bell ringing in 45 minutes. what could possibly top meeting with the queen? well, what we just talked about, monday, president trump lands in helsinki, long time putin critic bill browder joins us first on fox business, the hedge fund manager will lay out what he thinks should be at the top of the commander-in-chief's agenda. summer stock volatility driving investors a little bit crazy,
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but goldman sachs has some strategies to avoid the damage of the trump trade battle. our floor show traders are about to tell us whether they are buying it. countdown is coming right back. the dow is up 104. touch shows how we really feel. but does psoriasis ever get in the way? embrace the chance of 100% clear skin with taltz. up to 90% of those with moderate to severe psoriasis had a significant improvement of their psoriasis plaques. most people were still clearer after one year. with taltz, 4 out of 10 even achieved completely clear skin. don't use if you're allergic to taltz. before starting, you should be checked for tuberculosis. taltz may increase risk of infections and lower your ability to fight them. tell your doctor if you have an infection, symptoms, or received a vaccine or plan to. inflammatory bowel disease can happen with taltz, including worsening of symptoms.
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i don't know. i started my 401k early, i diversified... i'm not a big spender. sounds like you're doing a lot. but i still feel like i'm not gonna have enough for retirement. like there's something else i should be doing. with the right conversation, you might find you're doing okay. so, no hot dog suit? not unless you want to. no. schedule a complimentary goal planning session today with td ameritrade®. >> >> >> >> liz: the darkening clouds of
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tariff wars already gathering over americans heads and inside their minds. consumer sentiment data for the month of july came out today, the lowest level in six months, at 97.1, the level was below of economist expectations of 98.2. rising fears regarding president trump's trade battles. well, have no fear, goldman sachs is here. goldman has some advice for all of you who might be worried about the future of your 401(k)'s and your portfolios. the bank came out with a road map of sorts outlining where to put your money as trade tensions heat up. and what they did was they have four categories that they will keep your money on track. first, goldman says go for companies with the fastest revenue growth. this includes the names we put on your screen: netflix, amazon, campbell's soup and sales force. goldman says financials will outperform as interest rates rise because we know we're in a rising rate environment. stocks with strong balance
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sheets should be on your shopping list, the bank says including chipotle, monster beverage, facebook and nvidia. they say buy companies that have low labor costs like underarmour, gap, western union and alphabet the parent of google. i wanted to bring in our floor show traders to ask if you agree with goldman's strategy and b if you see anything missing here. tim, i will start with you. >> i agree with parts of it. i think some of the names on the list like amazon and netflix have had hyperbolic moves already this year. on any sign of weakness in the market, they might get hit because people have very significant profits to take in some of those stocks. i mean, if you really purely want safety, i think the electric utilities are a great sector that are definitely have exposure to very positive growth in the u.s. and also attractive dividend yields. that being said, that sector is up about 18% in the last five
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weeks. so you had a lot of money, maybe some of it defensive, going in there towards the end of the first half. but i do agree that the banks which have been an underperformer can be -- act very well in the second half of the year. liz: okay, all right. phil, what do you think of a goldman theory, and then tell me how you would spin that. >> you know, i like what they are trying to say here and they are saying find good balance sheets. what they are really saying to me is the trade war is not the end of the world. that there's going to be great opportunities for many investors. so don't get scared away at all. i think, you know, instead of trying to pick a stock, i think the best thing to do is get into a broad-based s&p. i think the s&p this year really is underperformed what it should have because of these trade war fears. and i really think that we're going to see a breakout to the upside. we saw that a little bit today. the highest price we've seen in some time.
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so broad based s&p you don't have to be a stock picker right now. i think go back to the straight index, and i think the end of the year it will explode. liz: it is a little sort of broad to say oh make sure you have a good balance sheet. all of these things are common sense, chris. is there anything you would sort of insert or add into this? >> well, i always -- since i have been here out since 1988, i'm aware -- i'd be wary of people bearing gifts. so if they are recommending something, i'm always kind of suspect. i've traded against those guys for a long long time. so there's nothing wrong with being diversified. i think that's a great idea. i think if you really want safety, we're 3% away from a record high right now, as of today. 3% off the highs. so if you've been worried about the down side, build up a six-month supply of cash. also if you really want safety, look at the two-year note. it is at the highest yield it's had in ten years. it's yielding 2.6%. so if you want safety, now's the
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time to protect it. you want to do it when you are at the top, not after a 20% correction. liz: good advice. yeah, people are always talking a little bit; right? tim, phil, chris, have a great weekend. did you know it is national fry day as in french fry? that's not helping with mcdonald's with the closing bell rings 36 minutes from now. mcdonald's is lagging on the dow 30, not because of its french fries which are totally fabulous but because the state health departments of both iowa and illinois said they are investigating infections linked to mcdonald's salads. mcdonald's says it will stop selling salads at about 3,000 of its restaurants. it is a parasite that infects the small intestine. not lovely. mcdonald's is down just fractionally right now. and build a bear dealing with its own pr bear of a nightmare after its pay your age promotion spun wildly out of control.
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look at this aerial shot. the lines and people flipping out. we've got that and much more on today's fox business brief, when count down comes right back. and charlie gasparino just landed. he's getting off the plane. a hotel can make or break a trip. and at expedia, we don't think you should be rushed into booking one. that's why we created expedia's add-on advantage. now after booking your flight, you unlock discounts on select hotels right until the day you leave. ♪ add-on advantage. discounted hotel rates when you add on to your trip. only when you book with expedia.
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liz: breaking news, and listen, this is an interesting double-edged sword here. an apology and another discount coming to some very heartbroken tiny shoppers, caught in the middle of yesterday's build a bear pay your age promotion shutdown. build a bear closing stores across the u.s., canada and the u.k. after an overwhelming response to the sale which allowed parents to pay their child's age for any customizable stuffed animal ranging from a dollar to 29 dollars. the company citing public safety concerns due to extremely long lines for the decision. when local news sends up a chopper, this is serious stuff. okay. to make up for the tears shed, build a bear is distributing
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vouchers and says members of its bonus club can log on to their on-line accounts through midnight july 15th to get a voucher. the ceo has apologized for the store closures and what she called a heart breaking build a bear situation. i will say right now she's not heartbroken. look at the stock. at one point it was up 8% today on the demand. we do have build a bear better by 5 3/4% or $8.25. half full, half empty, half stuffed, half -- let's take a look at stocks right now. dow jones industrials still above 25,000. we have it up about 94 points. the nasdaq is sort of straddling the flat line. russell is down. let's go to susan lee on the floor. >> hey, liz, yes, we have j&j today, after a st. louis jury awarded 4.6 billion dollars to 22 women who sued the pharmaceutical giants claiming its powder caused them to develop ovarian cancer. the verdict is the largest ever
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i guess of personal care product giant, j&j shares are down. apple and its suppliers tackling china's massive pollution problems announcing a new 300 million dollars fund specifically for investing in renewable energy products. a group of suppliers joining apple. twitter's efforts to purge fake users causing some popularity issues for its biggest celebrities. president obama, justin bieber, katy perry, taylor swift, rihanna, lady gaga, all losing followers due to suspicious accounts. twitter shares are down. 12 russian intelligence officers indicted in special counsel's election interference probe. bill browder gives us his take on the startling developments.
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announcer: you don't have to know it all to be a perfect parent. thousands of teens in foster care will love you just the same. liz: we do have this breaking news, president trump and first lady melania trump just arrived at glasgow's airport. you can see air force one there. they will be heading right now for turnberry scotland to spend the weekend at president trump's golf resort. as the president just a few hours ago was meeting with queen elizabeth back in england, the u.s. justice department almost simultaneously announced that 12 russian nationals were indicted with interfering in the 2016 election. the indicted are accused of engaging in, quote, a sustained effort to hack into the computer networks of the democratic national committee and of course the hilary clinton presidential
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campaign. inserting themselves into the election. you can see the president, melania are coming off the plane at the moment, right there in glasgow, scotland, the birthplace of president trump's mother. so with these indictments, which rod rosenstein of the fbi had said the president was notified of before he left for europe, they come just days ahead of president trump's meeting with russian president vladimir putin in helsinki on monday. hermitage capital ceo bill browder is a hedge fund manager and one of the few people in the world to have taken on vladimir putin and his cronies and smacked them down. he is the author of red notice the story of avenging a murder of his russian accountant who had uncovered massive corruption and was killed by russians and then browder worked with congress to get an act passed preventing foreigners who violate human rights from entering the u.s. bill, president trump says he's going to ask vladimir putin
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about interfering in our election. what's your gut reaction to that? >> president trump doesn't need to ask putin anything. vladimir putin is a pipsqueak in this relationship. russia has an economy the size of the state of new york. russia has a defense budget which is 90% less than ours and it is clear that russia has been up to no good. they have been invading foreign countries. they invaded ukraine. they sent people into syria. they have been messing around with our election, with elections all over europe. president trump should go there and be the world leader that he can easily be. he doesn't need to ask putin anything. he needs to tell putin don't mess around anymore because we're the 800 pound gorilla and won't tolerate this type of stuff happening here or elsewhere. >> how does it sit with you
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because some people get enraged but others say well wait a minute maybe the president is handling this properly >> he doesn't need to do this. putin is completely -- he's bluffing. he has a pair of 2s. the united states has a full house. we don't need anything from russia. we don't trade with russia. we don't need anything from russia. to go there and put vladimir putin on an equal stage to the leader of the free world is a gift to putin, no matter what they agree on, it is a gift to putin that he doesn't deserve. vladimir putin deserves to be contained and hopefully one day sent to the international criminal court, but we should not be playing nice with putin in any way shape or form. >> especially considering he snapped off a chunk of ukraine and it still stands today that russia controls crimea, that region. tell us what really needs to happen there. you had also said that it was the obama administration that
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really didn't do anything about that. president trump has said the same thing. which administration is doing more and has the potential to do more? >> well, what i would say is the obama administration basically gave putin the green light to do whatever he wanted to do. and with that green light, he went into ukraine and there was nothing -- we did nothing to stop it w. that green light he went into syria. with that green light, he shot down m 17. his administration is not doing any of the nice stuff. his administration is putting in place very tough sanctions against russia. that should continue. but there shouldn't be the theatrics of monday should not be for donald trump to be praising vladimir putin. to do that is a horrible injustice to all the victims of vladimir putin including myself. liz: let's hope that really doesn't happen. there was quite a scene certainly at nato when the
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president called out germany for buying a lot of its natural gas. germany is the number one purchaser of natural gas produced by russia. this pipeline, where do you stand on that? should they not be buying natural gas from russia right now? >> i think it is ridiculous that germany is basically creating a situation where they are putting themselves under the thumb of vladimir putin, and most other european countries feel the same way, and germany is trying to use its economic power to insist on this pipeline which makes no sense. so germany shouldn't be building this pipeline. nobody should be putting themselves under more economic dependence of russia. everybody should get their gas elsewhere if they can because russia is a malicious player in the world, and they will use all power that they have maliciously. liz: they weaponized it against eastern europe certainly during
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the coldest part of a winter recently. okay, you had a situation, the word red notice which of course is the title of your book means that that interpol puts out a red notice saying if this person travels, arrest them immediately. there was a red notice put out on you years ago by russia, and that of course is the reason you entitled this book because russia wanted you. they probably still do want you. we're thrilled to have you here, alive and kicking, but there was a situation in spain, i just want you to clarify what happened a couple weeks ago. you got arrested? what happened? >> yeah. so russia has used this interpol system or i should say abused the interpol system seven times to try to have me arrested, sent back to russia so they can kill me in one of their prisons. i was in madrid. i was in madrid to meet with the top anti-corruption prosecutor of spain because we found 30 million euros from the crime that my lawyer had discovered and was killed over going to spain. i was supposed to meet him late morning on the 30th of may.
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and at 9:40 a.m., two policemen spanish policemen came with an interpol warrant. they arrested me. they took me to the police station. i was locked up in the police station. and then they got a panic call from interpol realizing the mistake had been made and then thankfully two hours later i was released. this probably wouldn't have happened if i hadn't tweeted it out that i was being arrested because of instead of having one advocate i had 100,000 advocates calling everybody all over the world. thank god i was out. liz: twitter saved the day. it is the international distress signal. i'm glad it worked for you. bill, we'll be watching along with you, i'm sure, on monday as president trump meets with president putin in helsinki. we will have special coverage of that meeting monday, starting at 4:00 a.m. eastern at fbn a.m. we're on it folks. bill browder our thanks to you. i recommend everybody read "red
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notice" it is a fascinating and completely heart-wrenching story, a true one. the closing bell ringing in 17 minutes. the dow up 90 points. charlie told us wednesday, he said, the doj will appeal the at&t time warner merger decision and then of course the news broke last night. officially they would. charlie hit the streets of sun valley right after that, tracked down the at&t chairman and ceo randall stevenson, got him, find out what he told charlie about that, but now what the ratings agencies are warning. jardiance asked- and now you know. jardiance is the only type 2 diabetes pill proven to both reduce the risk of cardiovascular death for adults who have type 2 diabetes and heart disease... ...and lower a1c, with diet and exercise. jardiance can cause serious side effects including dehydration. this may cause you to feel dizzy, faint, or lightheaded, or weak upon standing. ketoacidosis is a serious side effect that may be fatal. symptoms include nausea, vomiting, stomach pain, tiredness, and trouble breathing.
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i want some more what's he doin? please sir. i want some more more? he has asked for... thank you well he did say please yes he did and, thank you (all boys): thank you, thank you, thank you. retail. under pressure like never before. and it's connected technology that's moving companies forward fast. e-commerce. real time inventory. virtual changing rooms. that's why retailers rely on comcast business to deliver consistent network speed
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across multiple locations. every corporate office, warehouse and store near or far covered. leaving every competitor, threat and challenge outmaneuvered. comcast business outmaneuver. if you're approaching 65, now's the time to get your ducks in a row. to learn about medicare, and the options you have. you see, medicare doesn't cover everything - only about 80% of your part b medical expenses. the rest is up to you.
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so if 65 is around the corner, think about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement insurance plans, they help cover some of what medicare doesn't pay. and could save you in out-of-pocket medical costs. so don't wait. call to request your free decision guide. and gather the information now to help you choose a plan later. these types of plans let you pick any doctor or hospital that takes medicare patients. and there's a range of plans to choose from, depending on you needs and your budget. so if you're turning 65 soon, call now and get started. because the time to think about tomorrow...is today. go long. >> here's what we know from our sources inside the doj have told fox business that inside doj's antitrust division they have
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privately decided the to appeal it. liz: bingo, that was charlie gasparino wednesday breaking the news that the justice department would appeal the time warner at&t merger approval. then of course yesterday after the bill, i don't know if you saw this, i'm sitting there in my office oh my gosh, comes out the department of justice officially confirms charlie's report announcing the decision to appeal arguing that the combined company would decrease competition and raise prices for consumers. that hits at&t's stock today which is down nearly 2%. but you can see there on the screen, charlie grabbed his camera and microphone and tracked down at&t's chairman and ceo randall stephenson on the streets of sun valley at the conference. got his reaction to the news first on fox business. listen. >> i don't think many people are surprised that they filed to appeal. loser always has the opportunity or the right to appeal. that's what they have chosen to do. the judge wrote a very
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thoughtful, very reasoned, very thorough order and so we feel really good about where we are on appeal. no surprise. >> if you are a shareholder, how should you feel about this? i mean, it's technically two different companies anyway; right? this won't disturb the merger as it is. >> the merger is closed. we're about executing right now. we are past all of that. this is the in the lawyer's hands until it goes to appeal. >> will you take this to the supreme court if that's where it goes? >> of course, but we don't anticipate that. >> the d.c. circuit court of appeals is more interesting because there are a lot of left-leaning judges. could you have a difficult time there? >> no, we don't think so. it is going to be based on the law. we've been to the court once. and we got an order based on the law. so we'll take to it the circuit court, see how the law evaluates it then. we don't anticipate much problems. liz: you have to love randall stephenson, rock solid, calm as a cucumber always said i'm going
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to fight this till the end. charlie just touched at jfk in new york. joining us now on the phone. no rest for the weary i'm sure charlie. huge story. you have the ratings agencies looking at this closely, fitch is saying they are a little worried, three district court judges there on the circuit and they might have been a little more left-leaning because they were appointed by president obama. and so fitch says we still think that the merger will go through, but it is an overhang because these things take months. >> listen, there is more than a theoretical possibility this is not going through. i think, you know, i like randall a lot. he's a straight shooter. but i think he's overestimating -- or underestimating the political dynamic here. dc circuit court of appeals is where this is going. it's going to be a panel, not to, you know, a district court, federal district court judge.
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that circuit court was packed with liberal more consumerist judges by president obama in his two terms in office. it is very -- it is a good likelihood that you get two judges on a panel, you know, you don't need all three, i think you need two out of three. that could basically agree with the trump administration on this because look at the opposition to this deal. it was mainly from people like elizabeth warren, who ironically agreed with donald trump that this is a bad deal. i mean, digest that for a second. liz: maybe for different reasons. >> yeah, but for different reasons maybe, but using the same argument, though, that this deal creates a monopoly. monopolies are bad. it's too big. it is going to -- liz: what if it goes to the supreme court, are they going to say what is this doing in front of our court? we're not going to listen to this thing? >> that's what i wonder. if they get a bad decision from
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the d.c. circuit court of appeals, if at&t loses there because of the scenario that i just laid out, and the supreme court says i don't want -- why are we -- sometimes they decide not to look at things. you know what i'm saying? it's happened. i mean, i'm not a legal expert. judge napolitano would be the person to ask about, you know, what are the chances they wouldn't -- they would ignore this case or reject hearing this case. you know, but if they decide no, you know, this is a problem for the merger. and i think the other story here is clearly what's going on with comcast in light of this. i mean, if you notice, we reported it first, liz, a week ago, that a lot of people thought that brian roberts was reconsidering his bid for the 21st century fox -- that are going to disney. that he's mainly focusing on a smaller portion of that asset and now it is coming out he's obviously focusing on a smaller
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portion namely sky. why did he back off of the full eneconomy la la -- enchilada? i think it is because of what the justice department is doing with this, and the position they are taking. they don't like vertical mergers that combine distribution, content, makes these liberal media players too powerful. the trump administration wants to stop it. liz: we're glad you are back safely. at least i am. i really -- i can't speak for everybody. >> people -- no one likes me. why is that? liz: oh come on, we do. >> i cry sometimes -- when i look at my twitter page, i cry sometimes. liz: charlie, don't shed tears. >> i feel bad -- people don't like me. liz: we're only 9 points above 25,000, charlie. we have got to go. thank you. glad you are back safely. when we come back, we will see how this one ends on friday the
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♪ liz: it is blood support on friday the 13th everybody tries to avoid bad luck. we are here to help you avoid that to your portfolio. we'll end for all three major indices to the upside for the week. help us do that. forget the day, friday the 13th, let's spread it out the less of the summer. >> right. one of the things we're looking at, we shrugged off a lot of bad news but one of the things we're looking at, i'm talking my book a little bit because i'm a value investor, but we've had the longest run of growth overvalue for 90 years. there are a lot of folks with the stories, netflix, teslas, if the story doesn't play out, investors should ask what kind of downside protection that do i
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have in things don't work out as i expect. liz: give me three things with downside protection? >> sure one in the stock news today, reported earnings, citigroup. trading little above tangible book value, 10 pe, decent dividend. very cheap stock. micron is more controversial name cheap on pe. energy sector, a lot of investors are far too negative one, canadian natural resources. cnq. it will pour out free cash flow. a lot of investors think oil is uninvestable. it really not. three stocks that are not you talk at parters like tesla but -- liz: you could have a whole party among micron. it is up 80%, a brilliant performer. we're about to close above 25,000 first time i say since mid-june, where do you think, yes or no, is this great news?
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[closing bell rings] >> you know, up markets are always good for investors. better to be making money than losing money for sure. that is great thing for all of us. liz: that is nasdaq record close. have a great weekend from the "claman countdown." david: the dow ending up 91 points. it was just 100 a moment ago. it may settle a little higher. these are session highs. green for the s&p 500 and the nasdaq. it looks like it will close at a new record high for the second day in a row. happy friday. i'm david asman. melissa: i'm melissa francis this is "after the bell." we have more on big market movers. here is what else we're covering in this very busy hour. making waves in the uk. president trump just arriving in scotland after a very busy day, meeting the queen and talking tough to the media on trade, and his support for the prime minister theresa may. we're liv
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