tv After the Bell FOX Business May 27, 2016 4:00pm-5:01pm EDT
in 5 that the dow will close up, losing streak has been snapped, closing bell comes in right now [closing bell ringing] we want to thank our veterans, anybody who has served, thanks to you, we hand it over to melissa and david for after the bell. david: thank you, stocks clawing higher in final moments of last trading day before long holiday week. this breaks a 4 week losing streak, i am david asman. >> i am melissa francis, this is after the gel, we have you covered in market, but first. donald trump canvassing golden state wrapping up a big rally in fresno, blasting hillary clinton. pushing to debate hillary clinton, he will take stage in station within an hour, where about a thousand union protesters are gathering. on this memorial day, a follow-up to disturbing story
of government at failure at veterans affairs, thousands of living vets, declared dead, losing benefits, which they rely on. a vet said the v.a. has done this to him not once but twice. david: what a lineup, but first back to market dow 30 ending mostly in green lead by verizon, visa and unite unitedhealth. phil flynn is watching from the cme and adam shap peer -- shapiro on the floor of the new york stock exchange. >> at first stocks started to sell-off to negative territory, but, most investors and traders had already prides in a potential increase in june or july, you saw stocks
rebound, then, dow closed up about 43, today, s&p 500 was up 8. and nasdaq up as well almost 29 points, here is the deal, volume has been light, not only today but all week, on the echange, down a bit. this may not be quite as positive you might think looking at some stocks at least where indexes has ended fors week, dow up about 2%, and s&p 500 up 2%, nasdaq up 3%. a stock that did well today, big lots, the discounters are doing great. yesterday it was dollar tree, big lot's earnings respect better than -- was better than expected. >> the flip side luxury retailers not doing so well. >> thank you. melissa: thank you, phil, oil ending week she was $50 a barrel, how high do you think
it will go coming up in. >> good morning, right now oil prices are i think we'll see $60 by july 4, we saw more evidence that this market is in trouble on the production side. not only do we see u.s. rate counts at lowest level since october of 2009, falling by two, we saw a major bankruptcy in the energy space. hercules energy, hercules drilling, hero, offshore drilling they declared bankruptcy. this is not a bankruptcy of restructuring they are selling off their assets that means product distraction that is a thing in marketplace that we've been worried about. other thing is janet yellen, is she raising rates? actually weighed on prices a little bit today. but it also weighed on gold prices, goal prices continue -- gold prices continue with a losing streak, with strong dollar, fear raising interest rates, even concerns that venezuela will ctinue to
sell gold, to meet some of their financial problems it has been an incredible week with energy, momentum is higher, i think we take out 50 next week we could see 6 by 4th of july. melissa: is it morning in chicago or are you just in need of a long weekend. >> i don't know what time zone i am in, i was talking to australia yesterday, it was today, i am so confused. david: we'll let it go. >> i'm not like that. david: janet yellen, saying a rate hike is likely on the way. >> i have said this in the past, i think for the fed to gradually and cautiously increase our overnight interest rate overtime, and probably in the coming months, such a move would be appropriate. david: markets plunging initially on those comments.
then they came on, what is going on? scott, did the market come back because they done believe janet yellen? or because maybe they priced it in already? >> good afternoon to you david, i am in central time zone. but, you know, here is the situation, on this. janet yellen, you know she is very much of a dove, the fed is probably not going to do much here, our bet has been that highest probability, is in december. that is still what our fixed income team thinks. but probability is not zero in june or july. really for me, where the market close today, the market is saying to me, we'll give of fed one here. but when they do that, if they say we'll hike a couple times more, that is a problem. david: all right. >> our call is one hike this year. certainly could happen over
course of jub june meeting. david: we should mention, yellen did not say there was going to be one in summer she said in months, particular be two months or 12 months. >> i don't think that market, cares about one incremental rate hike so long -- 92 the -- >> they did about the last one. >> that got the ball rolling, so long as it is acompanynied by reasonably good news on the economy, i don't think it would do much damage on stocks, baron's cover story this week examines whether a market crash is likely now. david: who? nice plug for baron's. >> i get a nice check from the editor every time i mention them. melissa: robots not taking your order at mcdonald's any time soon, the ceo does not think that robots would put workers out of jobs, we're in a service, we'll always have an important human element. jack do you believe him?
or just saying what he needed to in order to be popular? not upset people? >> i think that is working for mcdonald's right now, going -- not upscale but making it a little bit better, they have a chicken sandwich that is a big hit, it is a little bit of an improvement. i think they are going one by one items to menu, look to upgrade them, i think nuggets are next, you heard it here first. that is my prediction. melissa: how do you upgrade nuggets? >> make them look like chicken. but mcdonald's, the last thing they need to do is a race to the bottom on wages, on workers, they are looking after a long period of focusing too much on dollar menu, to focus now on customer more money in pockets. melissa: you could raise the wage for worker that is standing out front and taking the order event though most of the time they get it wrong,
and you have a robot in the back doing the cooking. >> this is what worries me about this $15 minimum wage, you will not have people in the fronts, you walk in, swipe your card, say i want a number two, super size it, push a button there are three guys in the back not 20, they crank it out on a conveyer belt, you eat it there or walk out with it, that is what worries moo -- me about push on minimum wage. i think that companies will ouwill -- utilize technology it is there right now. >> look at grocery stores, you know, that is why the grocery stores have self-checkout lines, it is expensive to carry people with higher wages than really the margins can really, take. david: let's keep it on food, barbecue stocks getting a boost, barbecue season kicks
off, you may be able to save money this summer, jack, you don't look like a vegetarian. >> what does that mean? melissa: what does that mean. david: i can't imagine a person your frame. >> have you never seen a chubby vegan. david: beef prices are coming down, pork price are coming up but that is great news about beef. >> it is good news, if i were a sort of by to enjoy a hamburger. david: come on, nobody believes you are a vegetarian. >> i had one last night, it ised if news for people like he, but terrible news if you are trying to sell john deere tractors, what is driving the beef prices down, cheap corn, cows in business of turning corn to meat, the corn prices are low, th, low corn prices. david: this is a relationship with the dollar too, commodity prices get hurt is there a relationship there? >> i think this is a relationship their.
you know on agricultural prices, you know a little bit different, you know, as someone who comes from an agricultural family, you are looking at what is the weather been in argentina, and brazil. what is you know how much, you know how much foreign beef are reselling, i think that dollar is related but to me, this is you know i am not a commodity expert, to me it is related to other commodities other than the agricultural commodities. david: steak is cheap, and economy is doing great, i am a very simple guy, have a great holiday weekend. >> thank you. >> hav have a great one. melissa: does using your cell phone cause cancer? the results of a new study. david: a very worrisome study. >> meanwhile, slamming hillary clinton over the use much a personal e-mail server.
is the media now turning against her. huey kurtz with his take. melissa: president obama claims that foreign leaders are rattled by donald trump, it may be all changing. mike huckabee weighs in. >> you rat e rattle someone that is good, many of the world as you know, countris in our world our beautiful world have been abusing us. ♪
but more important are the faces weokawhoa!ady? remember. [ explosion ] nothing should get in the way of the things you love. ♪ get america's fastest internet. only from xfinity. david: donald trump feeling california love, and a little aversion as well. arriving this afternoon, trump wasted no time, going on the attack against hillary clinton. >> really hard for me to watch
her, honestly, it is very boring, she lies so much he said last night, so many things. donald trump wants to see japan get nuclear weapons. i never said that. donald trump wants to see germany get nuclear weapons. he wants to see south korea arm themselves. >> i never said that, i never said close to that. >> about a thousand union protesters making their way to doing convention center where trump is to speak shortly, sarah palin is one of the opening actions for the show, she is as feisty as usual. >> he is now though he is now, we the people's nominee so suck it up cupcake! [cheers and applause] melissa: president obama blasting donald trump on the world's stage, he claims
foreign leaders are quote rattled by the billionaire. >> they are rattled by him, for good reason. a lot of the proposals he made display either ignorance of world affairs or a cavalier attitude. melissa: trump, sees that as a compliment, listen. >> if they are rattled in a friendly way we'll have great relationships, but if they are rattled in a friendly way that is a good thing. melissa: there you go. now that trump is party presumptive nominee the world leaders are shifting to a more peaceful tune. here now former arkansas governor mike huckabee, former presidential candidate, in i have to short en that title, i am tripping on it welcome, sir. let me ask you, folks in world
softening their tone now? they see what could be coming down the pike is that seem like it to you? >> i think so, i think also, president obama certainly had not rattled any of these foreign leaders they own him. they own him. i mean, putin can fly fighter jets 30 feet above an american destroyer, the iranians can take sailors hostage, put them on their knees and hands. behind their back, we can ignore anything that obama says about a red line in syria, no one takes him seriously. ia. agree with donald trump, if they are rattled, good for them, i don't give a rat's rear if it unsettled from foreign leaders that donald trump the be president, i care about they will have a respect for them, they know he is not going to be the push over that they are used to having for 8 years. melissa: is it respect? let me bedevi be def-- be the
devil's advocate. not as easy to manage as president obama has been where he does not stand up to others. is it respect? or would they be worried they would feel he is a loose cannon? >> that is what they said about ron also reagan in 1980, they said ro -- ronald reagan he is an uncontrolled cowboy he will just push buttons, he is dangerous, ronald reagan is one of the best presidents this country had, he brought a new level of respect back to america. i think that donald trump has though same qualities, she not going to be so predictable, i mean, boringly predictable where foreign leader can push him around, they know -- with obama he will not do anything about it. with trump, they are not sure.
and frankly that is what you want in a leader, somebody who is not been figured out, by the other side. melissa: it can be a good them thank you governor appreciate your time, and statements. >> you bet. david: talk about failure of big visit, v.a. failing thousands of veterans and cut off their benefits, congressing up mike riker, a veteran who has been declared deceased twice by the v.a., cutting off his benefits twice. >> and coming up, stov steve forbes.
more debt, he could bankrupt america like he has bankrupted his companies. david: did hillary really try to make the case this week he is better at business than donald trump? steve forbes is joining us. could hillary make that sale, somehow she is in a better position to judge good business sense as he is. >> she has as much cred bill tie there as she does on e-mail and servers, the clinton -- survived by donations, trump with real customer. david: put up numbers job creation, trump versus clinton. 22450 jobs, clinton foundation 486. no comparison. >> no comparison that is what you get with barack obama. who water boarded the economy for last 8 years, she has given no indication she will
change it for next 4 years except make it worse with higher taxes. >> she said a few weeks ago she would have her husband run the economy. i now the that the president is in charge of the economy. i guess bill will be temporary economic czar, that tells you all you need to know compare 90s with 8 years of barack obama. bill clinton said last 8 years have been miser able, he was right. david: and you have gdp numbers. it was .8%, that is how much the economy is. >> like, revising a batting average from .200 to .210 that is not getting you the world series. >> and tax policies with donald trump and hillary clinton, also regulatory policies, heritage foundation came out with a study putting a price tag for business, how
much it costs businesses to adhere to regulations under obama administration, $100 billion a year, that is how much is taken out of private sector to day for obama regulations. >> regulations are a form of taxation, especially when they have nothing to do with business, these regulations are also damaging the whole economy. you think i are a typical citizen, if you go to a federal park and your leash for your dog is longer than 6 feet, you can be sentenced to 6 months in jail, that is a felony federal offense that is the crazy stuff we have in washington. david: 100 billion a year, how soon can they be unwon -- donald trump saying, as soon as i am president i am unwinding these regulations, is it that quick a process. >> yes, two things he can repeal most of the executive orders of barack obama that will lift a huge burden on business but also, sets tone
we're going in opposite direc direction no longer wages war on prosperity we'll encourage it. david: what a nice change. >> we need it. david: steve forbes and me saturday morning, on fox news networks. melissa: here is live look outside of trump rally in san diego. protestors are gathering, police out in full force, we're keeping an eye on it back there, in case things get out of hand. david: it does. liberal media turning on hillary clinton, "new york times," of all people, now calling for more cand or from democratic candidate, howie kurtz sounds up next. >> a drug resistance super bug found for first time in the united states. >> the medicine cabine empty for some patients, the end of the road for
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rules by using her pr private e-mail surf server while secretary of u.s. howie, you know, i read both editorials back-to-back, these papers are not alone, it is just unusual to see home coming outputting out an opinion like this against her on manage she has defended and defended and defended. what do you make of it? >> i would argue this e-mail issue, more liberal researches have -- precincts is never given her an easy time, in resents months it was running out of gas, so people said, press is going easy on her. but now with this state department, report, you have anchors like wolf blitzer on cnn and chuck todd on msnbc pressing her hard on
interviews and not accepts, well other people did it, it was not that big a deal. melissa: how does that change thing if there is no safe place to go on this narrative. >> if shows that hillary clinton for more than a year has not been able to put this story to rest. for months, she would economy not even at mid it was a problem. it has taken a big toll on her, not just way ma media covers her but in ways of we have seen polling numbers honesty and trustworthiness, it is a mayor contributing factor, why she is road to nomination she can't quite seem to shake bernie sanders yeah, looking at this story, e-mail is the what, and question is the why? why is fun dig..
-- foundation, she fact money in form of speeches her husband gave then granted favors through the say the department, there is focus on e-mail but not that much, i don't know what it would take to get people to focus on money they took in exchange for favors. >> i think that clinton foundation finances are continuing and troubling story, but that is also a story with a lot of investigative reporting, two major papers you mentioned kind of ran out of gas, it kind of complicated. but, there is one thing in that state department report that really exposed what was going on with -- private e-mail, hillary clinton said it was for convenience, but there was an e-mail she said, she did not' personal to be accessed that means she did this in first place, was to keep prying reporters and
members of the public from finding out what she was communicating about with her 4 years in president obama's cabinet. melissa: right, howard kurtz thank you for coming on. >> thank you. david: we have some breaking political news, donald trump set to take stage in san diego he just came out with a statement, saying he no longer plans to debate bernie sanders, says, quote, now that i am presumptive republican nominee is seems inarope yeah, the i would de-- inappropriate second place finisher. joining me now -- christie new heating communications president, david is this a smart move in. >> i think politically it is a smart more, there is no reason for him to get into a debate, that generally could be fraught with risk. you never know how hey are
going, he should focus on general election, and hillary clinton. normally i would tell you that backing away from a debate, he in a sense pushed, would be problematic, something that his opponents could come after him for, but it is donald trump that probably won't happen. david: it must be a relief for hillary clinton, you could almost hear that sigh of relief from her quarters. >> donald trump and bernie sanders it mutually agree able goals to embarrass hillary clinton through this debate, i don't believe it would ever really happen, for this to happen, donald trump would have had to get involved in certain issues, he would have had to have a substantive understanding of one or more things, he could not just get up there and talk about his poll numbers. david: you know what he talk -- even if bern denot he would talk about hillary's e-mails, he would use it as a forum to
talk about those things that god love her, bernie sanders will not talk about. he forced the issue to come out of bensche's mouth. >> right, this is something that they would have loved to see happy because, this will give new life to bernie sanders' campaign, which -- is dead in the water. david: to guy, then, if this is something, if christie is right. why done it happen? was it, his new handler's pulling back the reins on donald? >> who knows. i am agreeing initially. david: you are supposed to know, that is why we hired. >> you david, let me answer, i think that when he first agreed to this, i tweeted it was a 70% chance that it would not end up happening because i think he was sandbagged by challenge, he did not want to back down from the challenge, he said, okay. very quickly to -- >> he loves challenges, i don't mean to disagree with
you, but he loves challenges. and he also loves debates. >> i understand that, that is why he accepted it. then i think probably, drift drucker is right issue his campaign said, hang owhat is the upside to this in they figured it was not worth it that is why the statement explaining why, it makes political sense, but none of those thing are new, they were facting on the group when he accepted challenge on kimmel's show this week. but now it is gone. david: thank you very much. melissa: could your phone give you cancer, a new major government study on rats finding a connection between cell phones and the disease, results renewing longstanding argument. about whether mobile phones cause adverse health affects, here now dr. raj. this is one of those thins that people have been talking about, they have been convinced of it, what do you
make of this latest study. >> there is a debate, this is not going to end the debate, this is one more piece of information if is a bit worrisome, this study was done on rats not humans, these are partial results, but it does show increase risk of brain and heartum tumors in rats only mai male rats. >> it you imagine, why just male rats? >> we don't b. there are a lot of unanswered questions. there have been studies with brain cancer since 1990s. they have no seen an increase there. however, this study in particular, have shown that with certain types of exposure, and very high frequencies, and long durations you see sometimes an increase of certain tumors. melissa: that was important point you made at beginning, we have been glued to our cell phones for a while now, and no
up pick in those tumors? >> large studying in australia and u.s., they have not seen an up cress, but there have been smaller studies at heating brain tissue, what does it do it brain cells, there is some damage, we don't know the answer yet we should still be cautious. melissa: sometimes i wonder if the rats just get canner, i'm kidding. now the super bug, a strain of e.coli that made its first appearance but the big difference is seems to resist the last resort antibiotics. this sounds more worrisome? >> this is, reason is that this particular strain of bacteria developed resistance to one of last resort antibiotics, that we suess. people have run all of options this patient in particular, it lucky because here strain of bacteria, while it is
resistance, actually can be treatedded with other antibiotics, she should be okay. however, if this strain you know spreaded to others it may not be the same story, it is really another wake-up call we need to treat this antibiotics resistance issue seriously, white house recognized it as a mayor problem. melissa: deal with it, thank you so much. >> thank you. david: ecoa e-- e.coli, yuck. >> summer travel in the air, tsa struggling to keep up with demand. we're live in the midway airport in chicago. >> also if you are hitting highway this weekend, you could encounter traffic jam like you have never seen before. we'll tell you what is behind monumental jam coming up.
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melissa: bracing for long lines at airport, record travels is expected this memorial day week. jeff flock in chicago with the latest, where the lines are a mile long, right? no? no. reporter: the news business is so great, just when you expect something, other thing happens they even hire a jazz band here in soothe passengers traveling through, because of long tsa lines, look to the left there you see, a set up barricades because they thought the lines will be so long they will stretch all way down, surprise. on the first day of summer travel season, lines are pretty much zero. not just here at midway, but at o'hare as well, and
elsewhere. we are getting reports that hey there, everyone is having fun. that lines one of the reasons here admit way and o'hare. this is a bomb-sniffing dog. if they sniff you down this line here, they can then divert you to priority pre-check line, that speeds things along. you know a lot of people laughed about the k-9 teams they are having impact because we've seen no lines all day today, well, it did back up a little bit, you know why? dog took a break. you know. melissa: to me, they can't predict how much people will show up in air travel not something you decide to do on that day, they should have known how many people are coming, fact they -- thought more people -- i don't know. it does not inspire confidence, jeff. anyway, great job, thank you so --
reporter: let's see how the rest of the summer goes. >> thank you, jeff. >> david. david: as far as road travel, americans are gearing up to hit road in record numbers for memorial day. this is gas prices hit lowest level for a may maze week in over a decade. >> may made weekend i memorial day weekend in over a decade. here looks at prices. patropetroleum analyst greg is joining us, i rented a car last weekend, i was surprised at how high gas prices are. i know they are lower compared with last year, but are they tacticking up in. >> you are right we've seen gas prices pick up about 17 cents a gallon just before the last month. past week national average up 4 cents a gallon, at same time, we have to point out that the average price we see today, is still 42 cents less than a year ago.
david: but we started this hour talking with phil flynn about oil prices, he sees prices up on $60, if that happened gas prices for up? >> right, more often than not when crude prices go up, wholesale resal sale gas -- gas leap follow the same direct. david: gas prices go up faster than they go down. >> you are right, they go up like a rocket and they fall line a feather. david: what do you think is going to happen your overall feeling a year from now? gas prices higher or lower than now? >> i think phil is optimistic. you know whether we see the $60 price on the crude oil, later in this year, it is
possible, but, i'm not convinced that is going to happen. i think that there might be a greater likelihood we see it to second or third quarter of 2017. david: i love phil flynn, he knows commodities better than anyone but it does seem that dollar is getting stronger when that happens i'll prices come down, greg, thank you, have a great may maz memorial day weekend. >> thank you. david: our heroes left behind, the government accidentally cutting off benefits to thousands of veterans, next, the story straight from a navy veteran who the v.a. wrongly declared dead -- twice. >> i'm a veteran, i know a lot of veterans who would not go near a v.a. hospital if they have any other option, the treatment in most of these hospitals is not what it needs to be. poor mouth breather.
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david: looking live inside outside trump rally in san diego where we're hearing donald trump has now arrived on his way to the event in his motorcade. protesters gathering. we'll see what happens there more trouble it was nation's heroes at hands of v.a., wrongly declaring more than 4,000 navy veterans dead in the last years, michael strike-- -- is with me now, how did you find out. >> i did not get a check in
the mail, i called, i asked what was the delay, they told me at that point, i was deceased. david: you told them you were not, you were michael riker how did you get them to believe you. >> it took about 5 minutes of going back and forth, i woke up feeling pretty good that day, they were pretty convinced i was, after a few minutes the person on other end found out that i was confused with a man in arizona. who pass away. david: no relationship to you, i understand he had a different middle initial. but, they were these differences, did not affect the decision they made to declare you dead. >> apparently not, i don't think that there was any serious checking going on when they determined they saw michael riker, and click a mouse, and there i went. david: as extraordinary as
that sounds they did it again? right? >> yeah, in january of my benefits were suspended again. and i still had a phone number from a person in at the v.a., who had told me if you have problems give me a call, i did, he was quite surprised that it happened. but, he also told me that i owed them $20,000 in back pay. david: they did to twice and you owed them? 20,000? >> yeah, was overpaid since june or july. >> how soon did it take to strays than out? >> -- trait en that out. >> the man got right on it this day, he took care of it, by the end of the day it was straightened out, i was back in the roll by within a couple days.
david: what do you make of all this. >> you fought hard for your country, you were getting benefits then you ran into the bureaucracy the sna the -- snaf yous, with is your over rally take. >> throwing out the conspiracy theory, i really don't think that is the issue. i just think it is an over burden, they are so overwhelmed at v.a. with all returning gulf vets for years it of find with just world war ii vets dying off, and vietnam vets and korea. they had a influx of the young vets, that -- i don't think they were ready to handle that. david: you may be right, they may take some people away from the stuff that would affect you, and put it to gulf vets that meeting causing part of the problem, michael we're sorry it happened to you, i hope it does not happy again. >> i am with you on that.
david: we wish you a wonderful memorial day weekend thank you so much for talking about this. david: thank you very much. >> best of luck, coming up a day to celebrate our veterans new graduates from naval act damy -- ac academy, a special tribute to noncommissions officers as well, that is coming up, right here. it's the little things in life that make me smile. spending the day with my niece. i don't use super poligrip for hold, because my dentures fit well.
. >> finally, today was graduation day for the newly commissioned officers at the naval academy. among the more than 1,000 graduates were 200 marine officers, but in addition, let us not forget that all the noncommissioned officers are serving as well. these are the kind of like line managers in the private sector, the folks who actually make the factory work, like for example, a gunnery sergeant, part of the fox family and who makes us all proud.
have a wonderful memorial day holiday and never forget those who risk their lives to keep us safe and free. meanwhile, back to the donald trump rally in san diego both inside and outside. there is a lot of things happening, we're awaiting donald trump. deirdre will take it away on "risk & reward." deirdre: donald trump set to speak at a rally in san diego, california, at any moment. protesters gathering outside the convention center, we will monitor it, bring you any developments. this is "risk & reward," i'm deirdre bolton. this also just in, donald trump releasing a statement saying he will not debate senator sanders. so we're going to bring you more on the details in just a minute. first here's how the markets closed. stocks higher on the day and the week. janet yellen implied rates may go higher in the next few months. >> i think for the fed to gradually and cautiously