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tv   Squawk Alley  CNBC  May 12, 2016 11:00am-12:01pm EDT

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street, and "squawk alley" is live. ♪ i say don't you know ♪ you say you don't know ♪ i say good thursday morning and welcome to squawk alley, jon fortt and kayla tausche along with karen swisher executive director at rico, and it is so nice ois to have you here. and in a few minutes paul ryan is fwgoing to talk about the meeting that he had with donald trump. and our john harwood is outsidef of the rnc headquarters in washington. hey, john. >> hey, carl. mr. trump has left the meeting and his motorcade left, and he smiled as he left, and we have not seen the members of the houseer or the membership walk out of this entrance at least, but paul ryan is going to be
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speaking in a half hourer, and we will see if they made any headway in uniting the party. there is considerable amount of support for donald trump within the house and the senate caucuses, but paul ryan who is an unusually idea-driven and philosophy-driven politician has withheld the support, and he is important, because he the highest ranking republican elected oofficial in the country right now, and we will find out in 30 minutes if he believes it is a step forward as reince priebus, the national republican chairman said it is a good meeting and positive step forward for unity, and we will have yet to hear from others. >> thank you, jop. we will see you in about 30 minutes. thank you, john har woo. >> and looking at tech, while peter teal was said to be on the trump delegate list, and we will turn to karen on that, and also facebook and how they are courting the republicans.
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>> peter teal is not a surprise. she is a libertarian, and counter to most of the silicon valley, and they are all republicans in silicon valley, and marc andreesen is, and he put "i'm with her" after the last primary, and meg whitman, a and so most of the republicans are against trump, but peter teal likes to be counter to whatever. so it is not a surprise. >> are they coming around to tr trump for the most part. >> no. >> republicans -- >> no. not even -- >> not since he was the presumed nominee? >> no, a lot of the republicans don't want to support him, and i don't know what paul ryan is doing it, because the man who says, let's tell it like it is, and he is not telling it like it is, and so he should be able to do that. they will all fall into line behind him, because the politicians would sell their mother to get into office, so presumably they will fall into line, but it is a good thing that they are having a debate internally, but within silicon valley, they are more romney
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republican republicans or mccain republicans, and so you won't see a lot of support. >> the head scratcher for me on a libertarian backing trump is that arguably, he is less of a lib ertarian than hillary clintn talking about manufacturing and the u.s., and what he said about the entitlement spending down the line, and he has taken positions that could drive a libertarians crazy. >> but it is more of a clinton thing than trump thing, and p e peter has a lot of unusual trades as you know personal, and everything, and it is always something counter, and this is what he is doing. >> and on issue, is tech solidifying around trade or visas or what is it? >> well, it is not fully backing hillary clinton yet, and they are going to, and it is the same thing, they were completely enthusiastic about donald trump, excuse me, president obama, and here they are sort of moving in,
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they are going to support her for the most part i think in general, but a lot of the younger tech people supported ben bernanke, and so that is an interesting trend. you know, the millionaire -- supported bernie sanders, and the billionaires for hillary, but it is interesting, because most of them are democrats in some fashion. >> and certainly, the conversation is only goinging to be heating up. >> same thing with facebook and i think it is a kinnard and ridiculous, and obviously cheryl sandburg is a big supporter of hillary clinton, and the way that mark zuckerberg is talking, he is clearly -- well, he has not declared, but if you go on the platform, you can find plenty of both sides, believe me, and it is typical for the po politicians to attack. they have done it before. >> and the point is that gizmodo didn't have the goods. that is what jon has been saying all along. >> it is so typical for the
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politician, and it is so unfair that it is run by -- well. you know. >> and we have not seen the story yet. >> i can't imagine that they would -- they want everybody on the platform, and i think that everybody and again, if you go on there, and there is plenty to be seen from every single side of the universe. >> and plenty of people to unfriend if you don't want it in your feed, too. >> and you can see who you like, and therefore, you can see, and you will get a certain point of view. >> and i have seen it happen on both sides of the spectrum though. >> there is not unfriending as far as i'm concerned. >> and people you may know. >> and the un-following should be a new trend. >> and is there a level of facebook pressure of how it gets to the trending or the algorithm or we are a newsroom? >> well, the platform, that is what they want to call themselv themselves. and the government is in a mood to hassle the tech these days with the facebook and the google, and so in some cases justified around the monopoly, and things like that, but in other cases, why not attack? >> well, tech is kind of the flipside of government right
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now. you have the executives like mark zuckerberg setting up the companies to be less accou accountable, and they can move faster, and congress, and what is the last thing that congress did? most people are thinking that there is gridlock, and they can't get anything done, and too worried about the implications of this network where where as zuckerberg is just insta and thy old men shaking their fists at the internet. >> and sometimes they are angry old men. >> and our first candidate is donald trump who is fantastic at the social media, and he is using it, and social pedia has been good at donald trump, and so to say it is a platform that is anti-anything, i don't know. it seems silly. >> next up, cowen says that it thinks that amazon is going to be displacing macy's as the number one retailer in the u.s., and amazon hitting another new all of h time high. and i made a list of netflix
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versus amazon, and google versus amazon, and walmart versus amaz amazon. and it is like a bruce lee fight. >> they are good at delivering the goods to people. i covered the retail for eight years. they are not good at this. they are not good at digital and not good at delivery, and amazon beats them up on this area, and anybody who uses these services knows it. >> and cowen note says that amazon is going to be the number one u.s. apparel retailer, and we don't think of amazon as a retailer for apparel. >> well, me lineals don't mind to order it and not go to the store to try ut on. people are willing to get stuff in the mail, and a lot of retailers where you buy things, and send it back or get a bunch of them and send it back. >> if it is shoes or something that i know what size i am, i don't mind to buy it on line, and also, zappos and they
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specialize in the clothing, and the physical reterrell of last resort, then buy it with the app on the phone or through the web, then i will get it. >> and ever lane, and glasses with war by parker, and it is fascinating what people are buying online and returning. >> and speaker ryan and donald trump have issued a joint statement, and this is what appears the be the headline. we had a great conversation this morning and while we were honest about the differences, we recognize there are many important areas of common ground and we will have additional discussions, but remain confident that there is an opportunity to unify the party for the fall, and this is the first meeting, but we expect there is going to be unification. >> you know where it is ending up. >> where? >> we hate hillary. >> it is the party's mission. >> it is so kabuki crap.
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i am glad he is saying it, but they will all come around. they will. they have to. >> and how important for paul ryan and his ilk to say, we actually love donald trump though? >> well, they will be with the nose held. you know, they will never really -- >> can they get away with saying, we hate hillary and so does donald trump, so let's go and let's win. >> ta have to distance themselves enough in case it is a disaster. if they embrace him, and do a chris christie which is looking like a swedish prisoner, and stockholm prisoner, and if you do that, you are totally linked to him, and if you are working on the common ground, the common ground is what they will say. >> and a live picture outside of, and in is maybe on capitol hill. >> exciting photography. >> and we we were told at the hill he would not make an appearance as he exited the rnc headquarters, but obviously, peppered with the questions at the lectern if not before that.
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>> and you are already warming up to the politics. >> i love it. are you kidding? >> but after the few weeks ago after aspirations. >> i love politic, and i'm going to be a tell it like it is like donald trump. >> and you believe you can get elected like that? >> well, it is working for someone. and it is working for some person. >> are you kidding? >> why do you think that i'm kidding? >> are you going to be raising money to run for mayor of san francisco. >> i have to. >> and what is the core issue -- housing? >> housing and the income equality going on in san francisco. >> huge local issues for san francisco. >> and bringing together tech, and it is obviously important industry. but it is not for me, and this is just -- >> quickly, what about all of the companies who you hammered? >> i am going to keep hammering them. >> do you expect to get their support? >> i will, i do, and who else? and speaking of the stockholm syndrome which is like mark an
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dree san. >> and you know who sells good at twitter, kara swisher. >> and donald trump said that raising money is not effective, and how do you spend $1 billion if you don't buy the tv ads? >> well, it is not just donald trump, but bernie sanders and people are saying, why do we do it this way? and let h's do it another way like in silicon valley, and whatever side you are on, it is fascinating the things that both candidates are doing, trump and sanders. >> and i want to draw your attention to apple below 90 for the first time in two years and google replaced it in market cap for the number one position this morning, and this is below the flash crash low of last august. >> yeah, yeah. >> and is that fairly punished? >> well, you know, they have to come up with great product, and people expect a lot from apple, and they fool that they have not been deliver iing on a lot of things, so they have to show me the products.
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and that is the product company. that is where are they in the vr and what is going on with the self-driving cars and what is going ob with the watch? is that something that you are going to be sticking with? what can you do after the iphone, and the iphone is the most fantastic product in all of tech. >> and we were talking about apple being the first trillion dollar market cap, but the cap is now below $500 billion, and this is the half of that, and the first time below that, and jon, people are saying, that is the risk of the big numbers, and amazon hitting 1,000 a share, and remember when amazon was to hit $1 billion in cap, and these market numbers have risk associated with it. >> and true, but in february, amazon was below $500 a share, and people said, well, you should not buy it here, because it is going to go lower, and now it is the last near these levels is before the iphone 6 cycle
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which turned out to be a monster cycle for them, and people were saying, oh, the iphone, and what can they do with it, and make it bigger, and they made it even bigger and it is going to be just like samsung. and a tough comp ob that, and so who knows what could happen with the 7.0 cycle, and they can afford the make mistakes, because they have an enormous cash cushion. >> and yes, the ideas, and the next group of ideas are expensive ideas, and cars and vr, and in home stuff. it is not as easy, and that not to say that they are not in the position to do great things, but it is harder. and unfortunately, you can't do a slow clap for all of the fantastic innovation, and they are. believe me, i believe that the iphone is the single most important product to come out of silicon valley. >> one of them? >> well, electricity is very good, but that came out of new
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jersey. >> semiconductor. >> and the product that really changed the game. i think that everything after that now, we are into the cars and home, and into the virtual reality, and it is a really, and especially the virtual reality and augmented reality are interesting. >> are you prepared to say that the next big swing will be cars? >> i don't know. i don't know where they are, and nobody knows. i don't know where they are in vr and they have not made it the way that google and facebook has, and so it is an interesting time. i would say the home probably would be, i guess. but they are not in -- and look at the echo, my beloved device the echo, and they are not in that, and google had a scoop about the chirp from google. apple is not in that business either, not very much. >> and so if apple were in it, it would be held to a entirely different standard than amazon with the echo, unless they are in in-home device talking to was
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doing millions of units in the first couple of quarters people would say, what is the matter with it? >> and the follower. >> they had the home kit, and people were to be building on top of that, but it has not -- >> live picture here of the lectern which is by the way an active atmosphere, i can tell you. we just had congressman mccarthy a moment ago at the microphone in advance of speaker ryan, whom we are expecting in the next 15 minutes on the spectrum of politicians and the time punctuality, speaker ryan is generally right on the money, and so we don't expect him to be la late. >> can we drink every time he says "common ground." >> i have a show to do, but you can. >> we have to be here for the next 45 minutes. >> and we will try to squeeze in a break ahead of ryan. thank you, and you bring the fire, kara swisher. thank you for joining us. as we are watching the apple shares slip, the markets have been deteriorating as well, and
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apple is taking 20 points off of the dow, and now it is 50 points into the retail which is a big drag across the booard for s&p and we saw claims disappointing for another week, and something to watch there, and nasdaq is fearing the worst largely because of apple down close to 1%. there is more trouble of retail with shares of khol's slipping after earnings and revenue missed the estimates. the company called it challenging slowdown, and now, one more look at apple hitting the $90 or below the $90 mark for the first time in little less than two years, and the lowest intraday for apple since the summer of 2014, and google or alphabet's cap becoming the largest company in the world, and carl, again, it happened earlier in the year, but it happened again. >> and so we are waiting for comments from speaker ryan after his meeting with donald trump, and we will take you there live as soon as it begins.
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back in a moment.
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in a few moments house speaker paul ryan is going the speak about his meeting with donald trump, and john harwood is in washington watching this all morning long. and trying to parse the statement, and they say that we were honest about the few differences, and that it is just the first meeting. what do you think? >> i think it is a pretty positive outcome from the republican party point of view. you have a joint statement from donald trump and paul ryan saying that positive step
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forward, honest about the differences, and we will keep talking, and emphasizing the importance of winning the election in the fall, and united against hillary clinton h, and that is what most paul ryan has not gotten all of the way to say that he is going to endorse donald trump, and something that he has found hard to do because of how powerfully he feels about the issues as well as the tone of the campaign, but you can bet that they talked about all of that and keep talking, and we will hear from paul ryan in a few minutes with more, you know, granularity about what the back and forth was, but it is a good outcome for the republicans. >> and quickly, john, how much pressure are the house members to pick a side here, and in turn, how much pressure is ryan under right now the pick a side? >> well, i think that most republican members of congress if they are in vulnerable
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districts, they have an insensitive to distance themselves from donald trump. if they are in strongly red districts, and districts that supported trump, they are already for him. paul ryan has got some pressure from the members to unite the party, and make it easier for them to win the election, but there are some members in those swing districts who have a different set of incentives, and so it is coming from both sides at paul ryan, and when he made that statement last week, he was trying to protect the vulnerable member, and i expect that he is going to continue to troo u to do that. >> we look forward to hearing from him in a few minutes, and a large shot of that room, and john, thanks. >> we will get to the european close. >> yes, the western european markets is really follow-through with the losses fromle wall street down to reflect that, and now they have basically stayed.
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the bang of england governor mr. carney is casting the pigeons at the press conference saying that if britain does vote to leave the european union, it could lead to a recession, and i don't believe anybody was expect iing him to be so blunt. and the sharp fall in the uk pound in the vote goes that way and less investment, and the jobs if voting to leave the european union, and in is going to infuriate the vote out campaign, but it is what has been said at the bank of england and from the helm. and some call the uk pound down 15 or 30% if they vote to leave. it is debatable, but what you need to know in london at the moment is a lack of public research from the banks, because they believe they can be clobbered by the electoral commission, because they are not registered as participants. we know that bank of england has three windows in the run-up to
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the vote on the june 23. so they will have a chance to get the liquidity they need for their positions. the banks so far this year are down 0% in europe, but some of the insurers have bounced today. and in subject to bou-- to the bounce, john kerry is there in london for the anti-corruption summit, and coinciding with reuters reporting that he has met with barclays and others to do business with iran. many of them have suffered billions of dollars of penalties with their activities with the iranians, and alleged acti activities, but they are afraid that state laws conflict with the federal law, and after the election, there is a walk-back on the iranian deal, sond and so if you are a banker, who do you do business with in that environment? back to you. >> and especially the money laundering charges.
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>> yes, and the billions of dollars. >> yes. and thank you, simon. we are waiting for the comments from house speaker paul ryan, and that happens in about 17 minutes, and he will be talk about that meeting with donald trump. we will go with him when he begins to speak. "squawk alley" returns afterf this.
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take a look at the live picture pictures. that is capitol hill where speaker ryan is going to be speaking in a few moments, and his weekly press conference, and this week, it is going to concern that peting with donald trump. as we are waiting for the speaker, join g ing us is long e republican strategist and former mccain adviser ben weber, and syndicated radio host and trump backer vin larson. and vin, i will start with you, he said that he will do anything that the presumptive nominee donald trump asked him, and step down as convention chair, and he has not endorsed him yet, but i
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am wondering if we will get it today. >> not today is my guess. i thought it was a gracious move on his part, and it would not be good for donald trump to ask him to step down as chairman, but it is his call. i think that paul will endorse him, but i doubt it comes today. what they told us today they agree or mon they disagree within -- that they disagree on, and they will come to the few issues they that agree or disagree, and they cannot come together on some things like trade. and that is a path for the republicans to get behind him, i am supporting the nominee of the republican party, and i'm more of a paul ryan republican, and not everybody has to be equally enthusiastic about the nominee. >> and paul ryan has said that there is plenty of room within the party for the policy disputes. and they have of course, sparred on trade, immigration, and whole
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host of issues, and does today's meeting get to the meat of it or what standards will the gop bear going into the election? >> well, i think that the meeting doesn't serve much of a purpose at all except to confirm that the establishment party does not like trump. when the speaker imka out to say that he did not have a endorse amount this time, and what does that serve? and barring the indictment by the justice department, hillary clinton is going to be the nominee this fall, and the clinton machine is not to be underestimated, and so now is time for the republican party to get behind the nominee. and is paul ryan going to say that i will hold off on the endorsement for a couple of weeks to grudgingly come to it, and all that is does is to establish that the republican wing is not listen ing ing to t voters. >> and other factions within the
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p party, and just because paul ryan took a meeting with donald trump doesn't mean that the amends will be made between senator john mccain or lindsey graham who are on this side. >> and they will, and mccain has said that he will get behind trump, and i don't know where lindsey graham is going to go, but the larger point is the wrong way for trump to proceed. everybody who has reservations on trump on principle, and issues should say, i don't care about that, and i am falling in line, and that is not going to happen. >> lars, yes. but to that point, i mean, do they just rewrite the platform to suit trump's liking? >> pardon me? >> if the alternative is hillary clinton, that is a no-go alternative and disaster of four more years of obama's policies and at least three supreme court justices to hillary clinton. that is the initiative to embrace the nominee that the voters and the members of the republican party have e chochos >> that is the beginning of the
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case of why republicans should unite behind him, even though they have opposed him on all sorts of policies. he is going to be the nominee of the republican party, and no question that most of them will back him, but if he is going to get the 90% of those who want to back him, he has to make a case, and broader than the one that you laid out, has to be on the trade, and foreign poll iicy an national security and broad range of issues, and maybe the case is there to be made, but paul ryan is not doing him any harm, but good by the end of it when in the end that paul ryan is comfortable that the case is made that we need to get behind donald trump. it is not because they all fell in line and pretending that there is no disagreements. >> nobody is pretending of disagreements and i held my nose to vote for mccain, but i voted
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for him, because the alternative, and you know the alternative, and that what we got. and it is not acceptable here. so why is this reluctance to get behind the nominee that your process chose do any good? >> well, i want to make a little bit of bringing the conversation back around to todayk because there are a lot of theories, and over to capitol hill, because the speaker is going to be talking. >> more people die from drug overdose than car stents. let me say it again. we have fellow citizens dying of drug overdoses than car accidents. today, the house is going to be continuing to edaddress the hern and opiate epidemic ott the country. for those at the press conference yesterday, you heard susan brooks and bob dole
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authors of two of the initiatives. all told by the end of the week, we are kt aing on 18 bills to deal with this, and i will be actually signing one of them today. it is s-32 the transnational drug trafficking act. this is going to allow the prosecutors go after the drug traffickers in foreign countries if we believe their drugs are will make it to our shores. that is going to the president's desk today, but one reason that we call it an epidemic is because it cuts across all demographic demographics, and affects families everywhere in america. take youth athletes, because they get injure and prescribed medication. before they know it, they are on the path to dependency and addiction, and yesterday we passed a bill introduced by pat meehan of pennsylvania to help students and athletes dealing with the dangers and you can be born with a de pen dpendency wh the saddest of them all which
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happens every 25 minutes in the count country. the babies are struggling to eat or even breathe. and yesterday we passed a bill introduced by evan jenkins of west virginia to help infants to make sure they get a healthy start. and the next step here is that we will take all of the bills that we are passing out of the house, and go to the conference committee with the senate, and then we intend to send the bill to the president's desk. i hope that each and every one of you will be back here when we sign this bill, this opioid epidemic is something that we have to get on top of. i am proud of the republicans and the democrats who have come together to address this issue, because this is really about people's lives. it is about woel communities that are being -- whole commu communities that are being torn apart and i believe that we can win this fight, and we must. questions? chad, thank you. >> and reading the joint statement that you and trump put out and what would you add?
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>> we had a very good meet iing. no secret that donald trump and i have had difference, and we talked about it today. that is common knowledge, but the question is what do we need to do to unify the republican party in all strains of conservative strains of the republican party, and we had a good and encouraging productive conversation of how to do that. it is important the discuss the differences that we have, and it is also important that we discussed the core principles that tie us all together. principles like the constitution, the separation of the powers ash and the fact that we have an executive that is going way beyond the boundaries of the constitution, and how it is important to us to restore artle i of the constitution, and is it the principle of self-government. we talked about life and how strongly we feel about this core principle. and important things like this. i was very encouraged with what i heard from donald trump today. i do believe that we are now planting the seeds to get ourselves unified to bridge the gaps and difference, and so from here, we will go deeper into the
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po policy areas to see where that common ground is and ow we can make sure that we are operating off of the same core principles, and so, yes, this is the first meeting. i was encouraged with this meeting, but it is a process. it takes a little time. you don't put it together in 45 minutes. so that is why we had like i said, a great start to the process in how we unify. >> and you don't think it is an issue of the -- >> excuse me. >> and so, mr. speaker, i read that statement as well. i'm still a little confused. are you endorsing donald trump, and if you are not, what is holding you back, and do you really have a choice? i mean, people are not voting for hillary clinton and endorsing her. >> and you know, the process of unifying the republican party which finished the primary a week ago is perhaps one of the most divisive primaries in memory takes some time. look, there are people who are for donald trump who are for ted cruz, an john kasich, and marco
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rubio and everybody else. and it is very important that we don't fake unifying, and pretend the unification, and that we are truly and actually unify to be a full strength in the fall. i don't want us to have a fake unification process here. i want to make sure that we really truly understand each other, and that we are committed to the conservative principles that make the republican party that built this country, and i again, i am encouraged. i heard a lot of things from the presumptive nominee, and we exchanged differences of opinions on some things that everybody knows that we have, and there are policy disputes we will have and no two ways about it, and so we can dispute on the policy issues, but not core principles, and on that, i am encouraged. back to craig. >> and will you endorse him? >> it is a positive direction and the first very en kourmging meeting, but in, again, 45 minutes, you don't litigate all of the issues and the processes
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and the principles -- i did not catch that? >> can you offer any assurance s that he will moderate the tone of the campaign? it is important that the conversation that we had with no offense, but i don't want to litigate our conversation through the media, because you are beginning to get to know someone, you have a good conversation of trust between each oher, this so i want to keep the things that we discussed between the two of us because they were important and personal in some senses, and that means that we talked about what it takes to unify and where the differences were, and how to bridge the gaps going forward so that we are strong as a party going into the fall. >> mr. speaker, you talked about -- >> mr. speaker, did he reiterate to you the desires to have you a chairman in cleveland and is that the role you want? >> i am the speaker of the house, and i am happy to serve in this xcapacity at the convention if the presumptive
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nominee wants us to, and it is the delegates who make that decision, but i would accept that if so desired from the presumptive nominee, and he did express ta today. >> and what did you think of his personality? >> his personality, i taught that he was very good personality. he is a very warm and genuine person, and like i said, i met him for like 30 seconds in 2012. so we really don't know each-er this, and we have started to get to know each other, and so i actually had a pleasant exchange with him. that is point number one. number two, look, there are thing th things that we just really believe in as conservatives, and united limited government, and the constitution, and we believe in the things like life. i nknow that where not everybod is pro choice in the party and we accept all comers, but we are pro life, and these are important to us.
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and so having a conversation with the senate right now, our leaders met with him and expressed opinions and exchange ideas and a point of this meeting. it is important to get full strength to win in the fall, because the stakes could not be higher, but it is going to take more than 45 minutes, mark. >> and you are someone who is committed to -- >> we discussed those issues at great detail. >> mr. speaker, you have defined modern conservativism among entitlement rerm to, and pro trade and both on the muslim ban and dealing with it comprehensively of who is saying and when you say joint statement, aren't you papering over the broad differences and not only conservativism, and how you do that. >> right. so i represent a wing to the party, and he is bringing a whole new wing to it, and a whole new group of voters that
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we have not had in decades which is a positive thing, but can we unite on the common core policies, and we will have policy differences, and look, "mad money" and mitt romney and i did not agree on everything fully in 2012. so we are on the path forward to unify a republican party, and yes, different reasons who have different views on various policy ideas, but the question is can we unify on common core principles that make our party, and by the way, the principles that built this country. i'm very encouraged that the answer to that question is yes. >> and before the convention -- >> over here. >> speaker ryan. >> sorry, the lady first. >> and at the monitor, and you mentioned the millions of new voters that he is bringing in new people. i was wondering how you actual ly
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interpret his success. is it going to be the fundamental realign omt of the party, and how do you interpret the success? >> well, it is unparalleled, because he has gotten more votes than any republican primary nominee in, mark, right, in the history of the country, and this is not over yet, because he has not gone to california yet. so it is a remarkable achievement, and the question is, and this is what we can be a party to helping how to unify it all so that this is a big and growing movement. how do we keep adding and adding and add iing voters and while n subtracting voters and to me that is a positive vision based on the core principles and take them to apply them to the problems facing the country today and offering people positive solutions, and speaking to people where they are in life, and addressing the anxieties and show that we have a better plan. look,'re is what we agree on, a hillary clinton presidency would be a disaster for the country,
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and it is effectively a third obama term, and the other thing that we all know is that most americans do not like where this country is headed. 7 of 10 americans think that america is on the wrong track. we agree with ta and the question is can we unify around the common principles to offer a country a compelling and clear choice in the agenda going forward so that the men and women of this nation can get a real and honest choice about how to fix this kcountry, and get u on the bester track, and i'm very encouraged that we can put it together. >> mr. speaker. >> one more in the back. >> thank you for calling on us in the cheap seats. >> and usually, you are late. >> and now, donald trump said that he is not ready to support your agenda, and did he change his mind today, and you are talking about the common agenda, and did he say that he is supportive of that?
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>> well, we spoke about the agenda agendas, and the policy teams are walking through the e details, and again, this is a process and begab the process, and i'm encouraged at the first meeting of the policy, and going further, we will go deeper into policy weeds to make sure we have a better understanding of one another. thank you very much. speaker ryan stopping short of the endorsement of donald trump as expected, but saying that the meeting between them is encouraging to i dashgs and extolling his prowess as a kand day saying that he is bringing in a new wing of voters, and calling him warm and genuine and called it a process as he called it, but he did not want to embark on the fake unification of the gop, and john harwood in washington. your thoughts? >> well, look, i think that it went well for the republican party today, both the meeting and that ryan press conference. what he is trying to do is quarantine the differences, and
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say that they agree on more than they disag grree on, and move t the higher level of abstraction, and saying it is about a core principles and the positive tone to the campaign, and this is one of the most difficult things for the party to get over for donald trump given some of the things that donald trump has said, and he has multiple objectives, and he wants to protect the house majority, and he may want to run for president in the future, and the closer he is to trump, the more he is going to become associated with the ideas. but for the short term, and for this campaign, this is the outcome that republican strategists and relekted officials most wanted to see, the beginning of the process that is clearly on the path to endorsement even though it is not happening today, carl. >> thank you, john. vin weber, is that true? being a republican strategist yourself? >> well, i think that paul ryan did far more good for donald trump today by handling it in the way he had or saying, well,
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he is the nominee and i'm e endorsing it him. he is going through the difficult process of people who have reservations about trump and many to come to grip with the candidacy and yunite genuinely behind him. he will eventually endorse him, and it is going to be providing a path for people who have legitimate differences with trump on issues to say, okay, i will follow the ryan example, and lit make sense to me if it makes sense to him. >> lars, the part of speaker ryan's comments that struck me most is when he said, i did not agree with mitt romney on everything, and we remember that mitt romney's speech about donald trump, and how fiery that was and how emphatic it was, and here is the pan who is romney's running mate coming out saying that he did not agree with romney on everything, and things are moving in the positive direction and how important was ta contrast between what we heard from romney and now ryan on donald trump? sh >> i think that is very
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important especially given romney's fiery comments lately. he seems to have the fire today to fight the republican nominee if only he had that fire in the belly a few year ago we would have had a different president now, and that is sad. let me tell you about one delicious irony i saw, and the issue that launched donald trump out of the gate is building a gate on the mexican border, and he started with comments on the heroin epidemic, and it is not prescription drugs, but heroin, and if you ask the dea, most of that heroin is coming from mexico and building a wall there would be a big way to address it much more effective than simply passing another law as the speaker talked about today. when israel built a wall to protect against terrorism, the terrorist incidents went down 95% by measure if we built a wall on the southern border, it would address not only ill are legal aliens, but also the illegal drugs coming into the
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country, and you would think that is one of the points of comparison that paul ryan and donald trump would ever have, but i doubt that paul ryan is ever going to be endorsing his wall. >> and cud low did say that border policies is something they could meld minds on early on. and if you missed it, this is the speaker addressing the media. >> i was very encouraging with what i heard from donald trump today. i do believe that we are now planting the seeds to get ourselves unified to bridge the gaps and differences, and so from here, we will go deeper into the policy areas to see where that common ground is, and how we can make sure that we are operating off of the same core principles. >> vin, to what degree is the speaker simply buying time, and if so, what is he buying time for? >> well, he is trying to bring along a wing of the party that is not comfortable with donald trump. many of whom have said they won't vote for him, and he
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understands that if he had simply endorsed, first of all, you guys wouldtn't have paid any attention to him, and he would try to help people work through the disagreements on a range of issues, and by the i wash, 62% of the people in the country are opposed to the wall, and i hope we don't lead with that in the fall. >> and vin weber republican strategist, and lars, radio host, thank you both. now, bringing in rick santelli of the cme group. we talked about romney made the comments on donald trump, and here we are, paul ryan has made some comments after meeting with trump that are of a very different tone. what is your take on what paul ryan's comments do for the republican party, and where are we headed perhaps policy wise with the economic issues that the country is facing? >> well, i think that paul ryan's a lot sharper in how he is approaching donald trump than mitt romney's whine, and not
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w-i-n-e, but w-h-i-n-e. he didn't win. and mccain didn't win, and he didn't win, and in terms of the republicans in office, are we done with the boredp chapter in the history where everybody has to think the same on every issue, because it is not going to happen. the republicans need trump more than trump needs them. they are co-host salmon, and it is spawning season and they are swimming downstream, and last i looked 120 million people who are going to be voting, and no matter the percentage of the 54 republicans in the senate and the 246 in the house, they get one vote. so if trump is going to win, it ist not going to be because for or against based on the the current republicans in the house and the senate. it is to have the due to tsunami of support out there for trump. ryan is approaching it correctly, and when it comes to the e kconomy, no matter how trump's policies work out, he is
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not going to be the same person currently in the white house when it comes to working with the senate and the house on taxes, on energy, and on business. i guarantee you, he is not going to be waking up everyday and try to bash wall street. in that regard, i can't see how we are going to be any worse off, and i don't know if we are go ing to be getting any solid plans out of donald trump, and i said it last time we talked and i will say it again, we have seen the boatloads of solid plans that were never implemented in this case, they are running for the man and not the way he frames the word or puts the sentences together. but the notion that he's an independent thinker. and for a person who is versus a person who is going to be arm and arm, and saying we won't support you. that is my read. >> and that person is heading for the record primary votes beating george bush's 2000 record of 10.8 million. but even though he has this swell of the momentum, what policy leverage does speaker ryan have, if any, to help
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donald trump shape his policies to those who reflect the broader republican party? >> i don't know. i think that if there is one thing that all of us in the media have learned is that it is very difficult to put donald trump in a category or predict his next move. so how is that going to be working out? i can't tell you, but one thing i can, whether it is the political advisers or mr. ryan, donald trump is going to do what he has done all along, because he is winning, okay. it is the pavlovian effect, and nobody understands that better than donald. whatever he is doing, he wants to do it, and he wants to win, and the rest of it is kabuki dance. >> and rick, speaking of someone who helped to form an element of the party, you say that we don't seem to be any worse off on the tariffs or the long term debt, will we be better off?
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>> well, first of all the tariff notion is a bargaining chip. i can't believe that mr. trump doesn't understand math. okay. you raise the tariffs 45%, the pricef of things goes up, and if you bring all of the jobs back, the price of things go up. there is a middle-class that is barely getting by now at walmart prices, and i think that donald understands why the walmart prices exist, and it is love-hate relationship, because al of the things that the people in the middle-class hate about jobs moving an globalization are not easily figured out, and donald knows that, but he is is trying to put a marker on the bargaining table, and my thought. >> rick, we will come to you for guidance as we work through the next 180 days. thank you, rick santelli. and meanwhile, the dow is in the red, and s&p down to 1096 as well as apple declining. before you invest,
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the markets lost some ground in the middle of the the session as apple fell below 90 and oil lost all of the gains and then some. the usb floor operations director, and talk about day with politics, central banks and retail and commodities and everything. >> yes, it is all coming together. i think that the market, and the traders were surprised, because
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yesterday, it looked like the oil/stock relationship had broken or at least stretched a great deal, and today, it is right back in line, and almost iron-clad relationship. it does not look like much heavy selling, but if it should show up in the afternoon, the viewers want to be careful of any move down the 2040 to 2043 and that area has to hold. if that breaks, it'll redefine where we have been here for a while. so, we will be watching crude. >> i'm seeing a lot of stocks, art, that might be seen as risky doing particularly bad ly, and o trt pro is down 6%, and alto network networks, and apple down, and what is behind that do you think? >> well, you are e be fwining to see a little bit of the rethink about the tech area. people are wondering, and there was an article in one of the
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blogs today about maybe some of the high prices that are still holed up there, and particular ly in the nonpublic companies is kind of stupid money. and money that is not really thoughted out, and you can't get a yield anywhere else, and go to silicon valley, and put the money to work there, and so you are beginning to seeing a generalized rethink of the whole tech proposition which is beginning to work on twitter and others like it. maybe they are not going to be having the bounce that everybody hoped for. >> and then apple which is one of the most wildly held, and if not oversold stock at this point, and living up to curse of the dow. >> yes, and no question about that. as i said a couple of days ago here, part of the problem is that people are beginning to think that apple is one failed product away from the major probl problem. so they are hanging tough, and that is why, you are beginning to see people back out of it. >> and we had david kosman on
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earlier, and he is looking at the dividend growth as the primary focus. layoffs in retail, and the brexit and the fed election, and the liquidity and the salt, and people are worried about that liquidity? >> yes, the initial claims fit in today, and that is going to be fitting in with the overall picture. >> are we done in the 2060 or 2080 channel? >> well, that is why i said, i would watch that 2040 area, and if you breakdown there, you are going to be redefining the whole area. >> thank you, art cashin, and we are not done with the earning season tonight completely, because tonight, we will get jun and shack and some other big names as we get to the specialty retailers next week. >> yes, but the narrative is written, because we have seen amazon, and facebook and two
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growth names that really continue to grow above the expectations. >> all right. we will see what those names post tonight, and of course, next week. in the meantime, the dow is down 71 point, and close to the session lows, and we go over to scott wapner "and the half." all right. guy guys, thank you so much. welcome to the "halftime report." i'm scott wapner, and this hour, apple is freefall, and the tock is breaking $90 a share for the first time in two years, and no longer the most valuable company on the planet, and with us is joe terranova, and stephen weiss and so with us,ha


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